Crypto futures liquidations reach $913 million: shorts account for 60.7% of the reported total

What the $913 million measures

The report puts BTC liquidations at $396 million and ETH liquidations at $236 million. Together that is $632 million, calculated as 396 + 236, or about 69.2% of the reported market total. The remaining $281 million is the difference between the reported total and those two asset totals. It is an arithmetic remainder, without a coin-by-coin breakdown in this article.

Source for the reported amounts: PANews, citing CoinGlass. Percentages and differences are NexuAlpha arithmetic on those amounts.

The direction split and asset split are two views of the same reported activity. Adding BTC and ETH to the long and short figures would overstate the total. Nor does the report say that $913 million of customer deposits disappeared. Its subject is liquidated futures positions; it does not provide an aggregate account-equity loss that could support that description.

Short liquidations exceeded long liquidations by $195 million in the report. That describes which side suffered more forced closures during the observation period. It does not establish what traders will do after the period ends. A trading decision would require information about the current contract and account, beyond this historical total.

A second window from our own board

At the November 5 reading, NexuAlpha's page displayed $178,779,304 of long liquidations and $240,859,507 of short liquidations over 24 hours. Their sum is $419,638,811, which explains the rounded $420 million headline on the page. Shorts account for approximately 57.4% of that observed sum.

The board identifies its coverage as Binance and OKX observed liquidations. PANews describes a market-wide CoinGlass snapshot. These are different populations. Both observations put shorts ahead of longs, but the agreement in direction cannot turn our two-venue total into independent confirmation of the report's exact $913 million.

The page also showed a four-hour total of about $180 million and a one-hour total of about $4.24 million. Those shorter windows sit inside the longer window at that reading. They should not be summed with the 24-hour number. A reader comparing a later screen should save its displayed update time as well as its figures.

Use the liquidation board to choose one window and inspect its long/short split. If you return after the observation updates, compare like with like: the same coverage, the same length of window and the same units. A change in a rolling total alone does not tell you how much occurred between two screenshots because older observations can also leave the window.

The price that matters to an open position

OKX's public liquidation FAQ says its liquidation assessment uses the mark price and maintenance-margin conditions. That means a position review should begin with the mark price shown for the actual contract, alongside its risk measure. Looking only at the last traded price can leave the wrong reference on screen. Source: OKX, “Forced Liquidation FAQ,” updated August 27, 2026, okx.com.

On OKX, open Positions & Assets, select your BTC or ETH contract, and record its mark price, margin mode and maintenance-margin ratio. Write down the contract identifier and whether it is long or short. Then record the mark price, estimated liquidation price if shown, and maintenance-margin ratio. Keep the observation time with those fields. These are suggested recordkeeping steps based on the account information described in the official FAQ, rather than a calculation of any reader's liquidation level.

If an estimated liquidation price is absent, do not replace it with a number copied from another trade. The FAQ describes account configurations where a single estimate is unavailable. In that case, inspect the account's displayed risk measure and the applicable account-mode documentation before treating a chart level as an exit boundary.

A liquidation headline contains none of those account inputs. Even a correct market total cannot reveal how much collateral supports your particular trade. The purpose of this check is to establish which account information you have, and which input still needs to be read from the position screen.

Shared collateral changes the question

OKX's cross and isolated margin guide distinguishes collateral shared across positions under the same margin asset from collateral assigned to an individual isolated position. This is why the margin-mode label belongs beside the position size when reviewing exposure. Source: OKX, “How do I trade using Cross and Isolated Modes?”, updated September 2, 2026, okx.com.

For a cross-margin account, make a list of positions using the same collateral. Review the combined exposure before evaluating a single BTC or ETH row. A position that looks small by itself may share collateral with other positions; the combined account is the relevant subject of the review. Do not assume that opposite directions on different instruments cancel each other's risk.

For an isolated position, inspect the collateral allocated to that position and any settings governing additional margin. Record the actual amount on screen. The liquidation statistics above provide no evidence about those settings, and a published exchange guide cannot establish how an individual reader has configured them.

Review open orders as well. The official FAQ describes order cancellation and position reduction within the liquidation process. A standing order should therefore be checked against the account's current condition instead of being treated as an independent protection that will necessarily remain unchanged through that process.

What an account review can resolve

A useful record after reading this report is a dated position snapshot, rather than a new directional prediction. Save the position's instrument, direction, size, margin mode and current risk fields. Compare any planned reduction or exit order with the quantity that is actually open. If the order covers only part of the position, record the uncovered amount explicitly.

If a position has already been reduced or closed, inspect its execution and account history before assigning a cause. The official FAQ describes both partial reductions and full liquidation. An account record can distinguish those outcomes for your trade; the market-wide report cannot.

Keep the current account review separate from a decision to add collateral. Additional money changes the amount exposed to that account or position. Record the amount currently exposed before considering any change to the collateral allocation.

For the next observation, note whether the liquidation window has advanced and whether your account inputs have changed. A smaller reported market total would still leave an individual position dependent on its own maintenance-margin conditions.

Quick answers

Were most reported liquidations shorts?

Yes. In the PANews snapshot, shorts were $554 million out of $913 million. The calculated share is about 60.7%. Longs were $359 million, about 39.3%.

Do BTC and ETH add another $632 million to that total?

No. Their reported amounts are an asset breakdown of liquidations. Adding them to the long and short totals would count activity again.

Does NexuAlpha's $420 million contradict the report?

The two figures have different coverage and observation times. Our board covers observed Binance and OKX activity; the PANews report describes CoinGlass market-wide data. They cannot be treated as identical datasets.

What should an existing futures holder check first?

Read the contract's mark price and the account's maintenance-margin information, then identify the collateral and margin mode supporting the position. The public OKX guides describe those mechanisms; the reader's own position supplies the account-specific values.