#Papertrade Liquidations
Papertrade is a fully on-chain synthetic perpetuals exchange on Hyperliquid's HyperEVM with leverage up to 1000x. At 1000x a 0.05% move wipes out a position, so the most useful signal on the exchange is where positions would bust.
Papertrade Liquidations follows the largest open positions, recomputes every bust price with the verified papertrade-sdk formula, and answers four questions:
- Where do liquidations cluster for BTC and ETH, and how much notional sits in each cluster?
- Which open positions are closest to their bust price right now?
- How much notional busts if price moves 0.1%, 0.5%, 1% or 5%?
- How close to bust is a specific wallet?
Unofficial, not affiliated with Papertrade. High leverage can lose your whole margin. Everything here is read-only: no tool, page or endpoint signs, sends, trades or asks for a key.
#Three ways to use it
| Surface | For | Where |
|---|---|---|
| Web app | People watching the market | / |
| HTTP API | Scripts and dashboards | GET /api/heatmap and openapi.json |
| MCP server | AI agents and assistants | POST /mcp, see MCP and Connect your AI |
#What is inside
The app is a Cloudflare Pages site. Pure TypeScript in src/ computes bust prices, buckets, cascades and clusters and is shared by the browser, the /api/heatmap function and the MCP tools, so all three always agree. The app is site/, the MCP server is site/functions/mcp.ts, and this documentation is built from docs/*.md by scripts/build-docs.mjs.
#Where to go next
- New here: Quickstart.
- Want to understand the numbers: Concepts.
- Building an agent: MCP, then Connect your AI.
- Running your own copy: Self-hosting.