Seismograph by Cryptograph Club

Liquidation wave · Closed

$12.9M on-chain liquidation wave, 3 Nov 2025

Magnitude M 4.1 on-chain, scale v1
Liquidated $12.9M USD at the block
Busiest hour $5.9M to 3 Nov 2025, 04:10 UTC

Liquidations on GMX v2, Aave v3, Morpho Blue, Compound v3 and Spark (Arbitrum, Ethereum and Base) totalled $12.9M between 03:10 and 07:25 UTC on 3 Nov 2025. The busiest hour saw $5.9M. 265 positions were liquidated.

Timeline

$0$1.0M$2.0M$3.0M$4.0M3 Nov 02:10–02:15 UTC: $002:103 Nov 02:15–02:20 UTC: $50K3 Nov 02:20–02:25 UTC: $3K3 Nov 02:25–02:30 UTC: $100K3 Nov 02:30–02:35 UTC: $361K3 Nov 02:35–02:40 UTC: $180K3 Nov 02:40–02:45 UTC: $2633 Nov 02:45–02:50 UTC: $26K3 Nov 02:50–02:55 UTC: $03 Nov 02:55–03:00 UTC: $4K02:553 Nov 03:00–03:05 UTC: $03 Nov 03:05–03:10 UTC: $37K3 Nov 03:10–03:15 UTC: $1.9M3 Nov 03:15–03:20 UTC: $03 Nov 03:20–03:25 UTC: $179K3 Nov 03:25–03:30 UTC: $16K3 Nov 03:30–03:35 UTC: $105K3 Nov 03:35–03:40 UTC: $115K3 Nov 03:40–03:45 UTC: $003:403 Nov 03:45–03:50 UTC: $7K3 Nov 03:50–03:55 UTC: $231K3 Nov 03:55–04:00 UTC: $10K3 Nov 04:00–04:05 UTC: $802K3 Nov 04:05–04:10 UTC: $2.6M3 Nov 04:10–04:15 UTC: $03 Nov 04:15–04:20 UTC: $6523 Nov 04:20–04:25 UTC: $1.9M3 Nov 04:25–04:30 UTC: $504:253 Nov 04:30–04:35 UTC: $5K3 Nov 04:35–04:40 UTC: $13 Nov 04:40–04:45 UTC: $20K3 Nov 04:45–04:50 UTC: $1K3 Nov 04:50–04:55 UTC: $5K3 Nov 04:55–05:00 UTC: $26K3 Nov 05:00–05:05 UTC: $7K3 Nov 05:05–05:10 UTC: $7K3 Nov 05:10–05:15 UTC: $005:103 Nov 05:15–05:20 UTC: $2K3 Nov 05:20–05:25 UTC: $03 Nov 05:25–05:30 UTC: $9K3 Nov 05:30–05:35 UTC: $03 Nov 05:35–05:40 UTC: $342K3 Nov 05:40–05:45 UTC: $2253 Nov 05:45–05:50 UTC: $2K3 Nov 05:50–05:55 UTC: $5583 Nov 05:55–06:00 UTC: $005:553 Nov 06:00–06:05 UTC: $16K3 Nov 06:05–06:10 UTC: $03 Nov 06:10–06:15 UTC: $945K3 Nov 06:15–06:20 UTC: $833 Nov 06:20–06:25 UTC: $23 Nov 06:25–06:30 UTC: $7K3 Nov 06:30–06:35 UTC: $9083 Nov 06:35–06:40 UTC: $1943 Nov 06:40–06:45 UTC: $270K06:403 Nov 06:45–06:50 UTC: $3.3M3 Nov 06:50–06:55 UTC: $16K3 Nov 06:55–07:00 UTC: $03 Nov 07:00–07:05 UTC: $03 Nov 07:05–07:10 UTC: $03 Nov 07:10–07:15 UTC: $03 Nov 07:15–07:20 UTC: $03 Nov 07:20–07:25 UTC: $81K3 Nov 07:25–07:30 UTC: $007:253 Nov 07:30–07:35 UTC: $03 Nov 07:35–07:40 UTC: $9K3 Nov 07:40–07:45 UTC: $03 Nov 07:45–07:50 UTC: $03 Nov 07:50–07:55 UTC: $03 Nov 07:55–08:00 UTC: $03 Nov 08:00–08:05 UTC: $03 Nov 08:05–08:10 UTC: $03 Nov 08:10–08:15 UTC: $008:103 Nov 08:15–08:20 UTC: $9K3 Nov 08:20–08:25 UTC: $5K

All covered venues, with an hour before and after the wave for comparison.

Facts

Started
3 Nov 2025, 03:10 UTC
Peak
5 minutes from 3 Nov 2025, 06:45 UTC
Ended
3 Nov 2025, 07:25 UTC
Duration
4 h 15 min
Positions liquidated
265 (266 liquidation events)
Normal level
Median hourly total $35K, 95th percentile $1.2M, over the 30 days before the day it started
Coverage
On-chain DeFi venues only; verified automatically from the blockchain
By venue
ValuedShare
GMX v2$12.6M98%
Aave v3$234K2%
Morpho Blue$3K<1%
Compound v3$2K<1%
Spark$14<1%
By chain
ValuedShare
Arbitrum$12.6M98%
Ethereum$225K2%
Base$9K<1%
By asset
ValuedShare
Other$7.1M56%
Ethereum$4.7M36%
Bitcoin$1.0M8%
Stablecoins$2K<1%

Sources

The largest transactions in the wave, on the chain's block explorer
TransactionVenueValue
0xb6a655f9…2b8ff7 GMX v2 (Arbitrum) $2.7M
0x93f30ba1…e1cf08 GMX v2 (Arbitrum) $2.6M
0xd6722132…661050 GMX v2 (Arbitrum) $1.7M
0xa63caa3e…217dc0 GMX v2 (Arbitrum) $1.4M
0xcae509e0…6a8abf GMX v2 (Arbitrum) $647K
0x874fa688…58f6af GMX v2 (Arbitrum) $493K
0xf4a9af6c…6d7b72 GMX v2 (Arbitrum) $391K
0x6b2fd54f…8d3ef0 GMX v2 (Arbitrum) $336K
0x597548e4…fe0437 GMX v2 (Arbitrum) $195K
0xb6e7a7c7…bb7a84 GMX v2 (Arbitrum) $178K

Values are in USD at the block of each liquidation, from on-chain prices. On-chain liquidation magnitudes measure DeFi venues only and are not yet comparable with hack or depeg magnitudes. Methodology · The magnitude scale