The ratio of total futures liquidations to market capitalization. This metric normalizes liquidation activity by the asset's size, allowing for comparison across different assets.

Higher values indicate more significant liquidation events relative to the asset's market cap. This metric can be viewed per exchange or aggregated across all exchanges (default).

This is the Point-in-Time (PiT) variant of Liquidations / Market Cap. PiT metrics are strictly append-only and their history is immutable. The historic data does not necessarily reflect the best current knowledge, but the information at the time when a data point was first computed. PiT metrics are ideal candidates for applications in model backtesting and related quantitative purposes. Read our article on PiT metrics for more information.