See where leverage is breaking, while it breaks

The tape

Every forced close across connected venues, rendered with size as the primary visual weight. The purpose is a single judgement call: is this the market breathing, or is this a level clearing out? A stream of uniform dots cannot answer that. A tape where a $4m close is unmistakably larger than a $4k one can.

The leverage map

Beyond the tape, the map estimates where positions are clustered by sampling account states across the leaderboard, so you can see the price levels that would trigger the next wave rather than only the one that already fired.

How traders actually use it

• Finding the level that just cleared. A cascade marks a price where forced supply was exhausted — often the cleanest reference for a reversal entry.
• Sizing the next one. If the map shows a dense cluster just below, a break of it is not a slow grind.
• Confirming a narrative. A headline plus a cascade is a different trade from a headline alone. Both are on the same screen here.

Not in isolation

The liquidation panel sits beside the funding and open-interest columns, the heatmap and the live wire. That matters: liquidations tell you leverage broke, funding tells you which side was crowded, and the feed tells you why. One of those alone is a guess.