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Join us on DiscordPrice is 24.1% below the level where forced dealer unwinds switch sides. The biggest cluster of liquidations sits at $67,998 — the level price tends to gravitate to, then accelerate through.
Price is 21.9% above the level where forced dealer unwinds switch sides. The biggest cluster of liquidations sits at $1,811 — the level price tends to gravitate to, then accelerate through.
The biggest cluster of liquidations sits at $70.89 — the level price tends to gravitate to, then accelerate through.
Net inventory, gamma flip and the full liquidation-density ladder for every perp listed on Hyperliquid, refreshed every few minutes. BTC, ETH, SOL are free below; Pro unlocks the rest.
Hyperliquid GEX is the perpetuals dealer analog of options Gamma Exposure — not equity/options GEX itself, but the same idea rebuilt for Hyperliquid's perp market makers. We classify the entire Hyperliquid account universe, isolate the market makers — the perp "dealers" — and map where their inventory sits, where forced unwinds cluster (the gamma profile), and the gamma flip level where dealer liquidation pressure crosses. When the regime flag reads amplify — dealer gamma amplifying moves instead of damping them — agents use it as a gex_veto: stand down fresh longs until the flag clears. Built from exact on-chain liquidation prices, refreshed every few minutes.
GEX (gamma exposure) tells you how market makers will be forced to trade as price moves. In options it comes from greeks; on Hyperliquid perps we rebuild it from something more concrete — the exact liquidation prices of every market-maker account.
When price reaches a level where dealers are liquidated, their positions get closed into the market. Those forced trades either damp the move (absorb it) or amplify it (pour fuel on it). GEX maps where that happens and which way it pushes.
Use it to: spot the levels price is drawn to, know when a breakout is likely to run, and stand down when dealer flow is working against you.
amplify, dealer gamma accelerates moves instead of damping them. Agents stand down fresh longs until it clears.Perps have no literal options gamma. This is a behavioral analog built from the exact on-chain liquidation price of every classified dealer account ≥$100k: per coin, the gamma_profile (liquidation-density histogram, 0.5%-of-mark bins, ±50%), the gamma_flip (cumulative long-liq/short-liq crossover), dealer net inventory and the amplify / dampen / transitional regime flag.
The gamma profile is already a distribution — over price levels of forced flow. It answers "if price reaches level L, how much notional is force-unwound there?" — not "what's the probability price reaches L?". Options markets extract the second directly from strike prices (Breeden–Litzenberger); perps have no strikes, so there is no implied-distribution shortcut. Connecting the two is a model — and the exact-liq-price fuel map to build it from is data nobody else has.
The full-universe liquidation map (every account ≥$100k, not just dealers) is archived every 5 minutes; gamma_exposure snapshots since 2026-07-06 and the regime layer since 2026-06-26. None of it is backfillable — positioning is point-in-time — so the dataset is forward-only and grows every week. We say so rather than hide it.
Every /quant/gex coin carries a distribution_context block — and it's archived, point-in-time, in the gamma_exposure snapshots.
A raw density number means little on its own; "the 92nd percentile of the last 30 days" is actionable. Each coin's near-mark fuel density, distance-to-flip, normalized dealer skew, regime score and funding rate are ranked against their own trailing 30-day history. Percentiles stay null while a coin's history is warming (<2 days) — the history_days field tells you exactly how much exists.
Does amplify actually precede fatter-tailed moves? We measure forward return, realized-vol and tail distributions conditioned on the regime flag, pooled across the full perp universe, against a volatility-matched null — so the flag can't take credit for "high vol → big moves".
STUDY IN PROGRESS
The assessment publishes with measured lifts, confidence intervals and sample sizes — the same public-scorecard bar as the regime engine. Findings land here when the forward-only archive is deep enough to say something honest.
Net inventory, flip level, dealer split, regime flag and percentile context — per coin, plus the full gamma_profile ladder.
{
"scope": "gamma_exposure",
"coins": {
"BTC": {
"mark": 73710.5,
"mm_net_delta": -153951073.29,
"mm_long_usd": 50198025.78,
"mm_short_usd": 204149099.07,
"mm_n_accounts": 109,
"gamma_flip": 91494.571339,
"gamma_profile": [ { "price_lo": …, "price_hi": …, "long_usd": …, "short_usd": …, "total_usd": … }, … ],
"regime": { "state": "dampen", … },
"distribution_context": {
"abs_dist_to_flip_pctile": 85.1,
"funding_pinned": false,
"funding_rate_pctile": 10.1,
"history_days": 30.0,
"mm_skew": -0.6053,
"mm_skew_pctile": 67.3,
"mm_skew_z": 0.135,
"near_density_pctile": 32.5,
"regime_score_pctile": 17.1,
"sample_count": 720,
"sample_ts": 1794451433484,
"status": "ok",
"window_days": 30
},
…
}
}
}
This page is a 3-coin teaser. Pro unlocks /quant/gex and /quant/positioning for the entire Hyperliquid universe — per-account trader tags (market_maker / whale / smart_money), net delta by type, and the full gamma profile + flip per coin. The tagged liquidation-map archive for backtesting is on Pro Plus.
curl "https://cryptodataapi.com/api/v1/quant/gex?symbol=BTC" \ -H "X-API-Key: cdk_live_your_key"
curl -H "X-API-Key: cdk_live_yourkey" \ "https://cryptodataapi.com/api/v1/quant/gex?symbol=BTC"
Per-coin dealer positioning with gamma_flip and the amplify/dampen regime flag; archived per snapshot as gamma_exposure since 6 Jul 2026.
Above the gamma flip, dealer hedging fades moves; below it, the same hedging chases them. One level splits the market into a mean-reversion regime and a momentum regime — which means the strategy on each side should be opposite, and the flip itself is the risk line.
Build me a gamma-regime strategy on CryptoDataAPI GEX data. Read live dealer positioning from /api/v1/quant/gex?symbol=BTC — the gamma_flip level and the amplify/dampen state. Trade the two states OPPOSITELY: fade extremes while price is above the flip (dealers dampen), follow momentum below it (dealers amplify). Define entries, exits, and stops for each state, and what you do when price crosses the flip mid-position. Then backtest on the archived snapshots at /api/v1/backtesting/snapshots?data_type=gamma_exposure (since 6 Jul 2026) joined to /api/v1/backtesting/klines. Report per-state profit factor with taker fees. The honest control: run each sub-strategy on BOTH sides of the flip — if fading works everywhere, the flip level added nothing.
Perp GEX has no options-market equivalent to check against, so the only way to know whether the amplify / dampen flag means anything is to test it. The archive keeps the full gamma profile at 5-minute resolution alongside the liquidation map it interacts with, from the day the engine shipped.
curl -H "X-API-Key: cdk_live_yourkey" \ "https://cryptodataapi.com/api/v1/backtesting/snapshots?data_type=gamma_exposure&start=2026-07-06&limit=1000"