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DERIVATIVES · PARTIAL LIQUIDATIONS

Partial Liquidations in Crypto: How to Read the Data With Price Context

Some venues reduce a position step by step instead of closing it all at once. In liquidation data, that shows up as repeated smaller forced orders.

By ChartsPod Editorial Team · Reviewed by ChartsPod Research
Published · Updated · 5 min read

Short answer

A partial liquidation reduces part of a position to bring margin back above the requirement, rather than closing everything. Whether and how a venue does this depends on its rules, margin mode and risk tier, so check your venue's liquidation documentation. In data, partial liquidations appear as a series of smaller forced orders at nearby prices. Read them with price: if forced selling repeats while price keeps falling, positions are being unwound in steps; if it stops and price stabilises, the unwind may be done.

What it looks like

Stepwise unwind (illustrative)Stepwise unwind (illustrative): T: Forced sell 12 BTC; T+40s: Forced sell 9 BTC; T+90s: Forced sell 7 BTC; T+3m: Price stabilises.TForced sell 12 BTCT+40sForced sell 9 BTCT+90sForced sell 7 BTCT+3mPrice stabilises
Smaller orders at nearby prices. Original ChartsPod editorial graphic.
SignalReading
Repeated forced orders, same sideStepwise unwind
OI falling with themPositions closing
Price keeps fallingUnwind ongoing
Orders stop, price holdsUnwind may be done

Data caveats

Public liquidation feeds can be sampled: Binance's stream sends at most the latest liquidation per 1000 ms. A series of partial liquidations may be undercounted. Combine with OI change.

Reading forced ordersReading forced orders: Feed sampling known; Same side and nearby prices; OI change alongside; Venue's liquidation rules read; Price response measured.READING FORCED ORDERSFeed sampling knownSame side and nearby pricesOI change alongsideVenue's liquidation rules readPrice response measured
Treat feeds as lower bounds. Original ChartsPod editorial graphic.

Using it

Related: Liquidation Cascades in Crypto: How to Read the Data With Price Context, Crypto Liquidation Events: Null vs Zero - Handle Missing Fields Correctly.

Check partial liquidations beside price in ChartsPod.

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Read them with price: if forced selling repeats while price keeps falling, positions are being unwound in steps; if it stops and price stabilises, the unwind may be done.

Test Partial Liquidations in Crypto on a perpetual chart; no account is needed to chart.

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Questions readers ask

What is a partial liquidation?

Reducing part of a position to restore margin.

Do all venues do it?

Rules differ; check your venue.

How does it show in data?

Repeated smaller forced orders.

Sources and methodology

Definitions follow Binance's USD-M market data documentation, Hyperliquid's funding documentation, TradingView's open-interest guide and Bybit's liquidation rules, read 17 October 2026. Examples are illustrative, not recorded market data.

  1. Binance USD-M: Liquidation order streams — snapshot of at most the latest liquidation per 1000 ms.
  2. Bybit: Liquidation process — mark price and margin modes.
  3. ChartsPod: product overview, pricing and FAQ — free terminal, venues, modules, no order placement; checked 17 Oct 2026.

This article explains research tools and workflows. It is not financial advice, does not recommend buying or selling any asset and does not predict prices. Crypto derivatives carry a risk of rapid and total loss of margin.

CHARTSPOD EDITORIAL EDITION · RESEARCH AND EDUCATION ONLY · NOT FINANCIAL ADVICE.