Liquidation wave · Closed
$9.5M on-chain liquidation wave, 4 Dec 2025
Magnitude
M 4.0
on-chain, scale v1
Liquidated
$9.5M
USD at the block
Liquidations on GMX v2 and Aave v3 (Arbitrum and Base) totalled $9.5M between 13:00 and 13:30 UTC on 4 Dec 2025. 10 positions were liquidated.
Timeline
All covered venues, with an hour before and after the wave for comparison.
Facts
- Started
- 4 Dec 2025, 13:00 UTC
- Peak
- 5 minutes from 4 Dec 2025, 13:25 UTC
- Ended
- 4 Dec 2025, 13:30 UTC
- Duration
- 30 min
- Positions liquidated
- 10 (10 liquidation events)
- Normal level
- Median hourly total $35K, 95th percentile $2.9M, over the 30 days before the day it started
- Coverage
- On-chain DeFi venues only; verified automatically from the blockchain
| Valued | Share | |
|---|---|---|
| GMX v2 | $9.5M | 100% |
| Aave v3 | $1 | <1% |
| Valued | Share | |
|---|---|---|
| Arbitrum | $9.5M | 100% |
| Base | $1 | <1% |
| Valued | Share | |
|---|---|---|
| Ethereum | $9.4M | 99% |
| Other | $63K | <1% |
| Bitcoin | $2K | <1% |
| Stablecoins | $1 | <1% |
Sources
| Transaction | Venue | Value |
|---|---|---|
| 0x7bd1cd51…e11d0e | GMX v2 (Arbitrum) | $9.4M |
| 0x97146f01…ee9f08 | GMX v2 (Arbitrum) | $62K |
| 0xd14dff28…bafc1e | GMX v2 (Arbitrum) | $3K |
| 0xc8d3c4df…054ade | GMX v2 (Arbitrum) | $2K |
| 0x690be7a5…07f791 | GMX v2 (Arbitrum) | $1K |
| 0x8e26913b…25942b | GMX v2 (Arbitrum) | $1K |
| 0xb4a7479c…cdcc85 | GMX v2 (Arbitrum) | $686 |
| 0x25a70947…bbdd1c | GMX v2 (Arbitrum) | $314 |
| 0xc8f7041e…fd0d85 | GMX v2 (Arbitrum) | $123 |
| 0x664b401a…ccc0ba | Aave v3 (Base) | $1 |
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