Liquidity Cluster Radar: Systemic Signals From Open Order Snapshots

Track where stops, take profits, and limits concentrate across Hyperliquid, then combine it with liquidation risk to flag the most fragile levels.

The Liquidity Cluster Radar shows how to turn HyperTracker’s exchange-wide open order snapshots into a practical “liquidity radar” that updates every five minutes. HyperTracker continuously listens to the live order stream across all markets, records every open order, and finalizes the data into rolling 5 minute snapshots so you can analyze the current liquidity landscape and how clusters evolve over time.

Each snapshot explicitly separates four order types:

• stop orders,

• take profit orders,

• limit increase orders (adds to an existing position), and

• limit reduction orders (reduces an existing position).

In this workflow, you poll for the newest finalized snapshot, fetch the latest open orders (globally or per coin), and aggregate them into price bands around the current market price to see where liquidity is stacking up. Then you enrich the view with liquidation risk by asset to surface the levels and markets where dense clusters overlap with fragile positioning, making it easier to spot price-sensitive zones, hidden liquidity, and areas of elevated liquidation risk without rebuilding the order book yourself.

Necessary Rest API:

• Get Latest Order snapshot (get the most recent snapshot's open orders)

• Get Liquidation Risk by Asset (Returns each asset’s percent of open interest at high liquidation risk within a cohort.)

Necessary HL Info Endpoints

• meta (get the entire list of tradeable perp assets)

• activeAssetData (get real time wallet data for a specfiic asset)

• openOrders (show the current open orders for an account)

Optional Rest API:

• Get 5min order snapshot from a specific timestamp (Returns a specific historical snapshot's orders)

• Get 5min snapshot download (Returns a downloadURL for the snapshot file at a given timestamp)

• Get 5min snapshot by coin (Returns the latest snapshot file for a specific coin)

• Get Liquidation heatmap (download file) (Returns a download file for the Liquidation heatmap)

Optional Hyperliquid Info Endpoints

• frontendOpenOrders (show the current open orders with frontend views)

• clearinghouseState (get an overview of the user's perp trading stats)

An example of how a self-made tool using the Liquidity Cluster Radar would look like: