MERL Liquidation Heatmap & Analytics

As of 2026-10-17 16:00 UTC, MERL carries $27K of long-liquidation exposure on Hyperliquid, the 120th-largest of 160 tracked markets, with $322.69 of long liquidations sitting within 2% of spot. Over the last 4 hours, long exposure fell $409.52 (-1.50%) and short exposure rose $246.70 (+14.24%).

Merlin Chain (MERL) is trading at $0.0261, down -2.73% over the past 24 hours (24h range $0.0259–$0.0275). Across HyperLiquid, MERL shows $26K in long-liquidation exposure (21 positions) versus $2K short (8 positions), on $28K of open interest — a strongly bearish liquidation skew. The cross-exchange 8-hour funding rate is +0.0100% (10.95% annualized, moderately positive) across 6 venues.

This MERL liquidation heatmap is sourced directly from a HyperLiquid node, so every wallet is included. It maps cumulative long and short liquidation pressure across price levels, highlights the stop-order clusters protecting longs and shorts, and shows where forced exits are most likely to cascade — alongside aggregated orderbook depth, the cross-exchange funding rate, and a trader-cohort profitability breakdown over 24-hour, 7-day, and 30-day windows.