Estimated liquidation clusters across price and time, rebuilt from Binance USDT-M open-interest flows. Bright horizontal bands mark price zones dense with leveraged positions; when price sweeps through a band, those positions are forced to close and the band disappears.
Levels are model-based estimates built from Binance USDT-M perpetual open-interest changes distributed across assumed leverage brackets (10x / 25x / 50x / 100x), not actual liquidation orders. Brighter cells mark price zones where more leveraged positions would be forced to close.
Every leveraged perpetual position carries a liquidation price: the level where the exchange force-closes it because margin has run out. Individually those levels are private, but in aggregate they cluster at predictable distances from where positions were opened. A liquidation heatmap paints those clusters over time: the horizontal axis is time, the vertical axis is price, and the color intensity of each cell estimates how much position notional would be liquidated if price reached that level.
Clusters act like magnets and fuel. Market makers and momentum traders know that pushing price into a dense band triggers a cascade of forced orders, which is why price often accelerates into bright zones and stalls after consuming them. Bands above the current price are short liquidations (forced buying when hit); bands below are long liquidations (forced selling).
Exchanges do not publish other traders' liquidation prices, so the map is a model, the same approach popularized by CoinGlass. Kodexius records Binance USDT-M open interest in 5-minute buckets. When open interest rises during a candle, that increase is treated as fresh longs and shorts opened near the closing price, distributed across assumed leverage brackets (10x, 25x, 50x, 100x). Each bracket implies a liquidation price above and below the entry, and the notional is added to those price bins. When price later trades through a bin, its accumulated liquidity is cleared, mirroring the liquidations that would have fired there.
Because raw estimates are dominated by a few giant clusters, the color scale is clipped at a fraction of the window's maximum value, the liquidity threshold(0.85 by default, adjustable above the chart). Lowering it makes smaller clusters brighter; raising it reserves the hottest colors for the very largest ones. The slider only rescales the coloring, exactly like the CoinGlass control it mirrors: the underlying data never changes, and the brightest color means "at or above the clip value", not a precise dollar amount. Treat the map as a relative density gauge, not an order book.
Source data is public Binance USDT-M perpetual market data: klines for price and volume, and open-interest history collected every 5 minutes (Binance exposes at most the latest 30 days, which bounds the longest window). The heatmap recomputes on demand and is cached for about a minute. Nothing on this page is investment advice.