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DATA · LIQUIDATION EVENTS

Crypto Liquidation Events: Null vs Zero - Handle Missing Fields Correctly

Liquidation feeds look like complete lists of forced orders. Binance's public stream is a sampled snapshot, so silence and absence need careful reading.

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

Short answer

Binance's liquidation order stream pushes at most the latest liquidation per symbol within each 1000 ms window; if none happened, nothing is pushed. That means a quiet stream is consistent with no liquidations, but a busy second can contain more liquidations than were sent. Totals built from this stream are lower bounds, not complete counts. Treat 'no message' as zero only for windows where you were connected, and label aggregated liquidation figures as sampled.

Fields and what missing values mean

FieldNull / absent meansZero / empty means
No message in a second—No liquidation pushed (if connected)
Disconnected periodUnknown—
Multiple in one secondOnly latest pushed—
Side / price / qtyIn each event—
Daily totalLower bound—
Liquidation Events: how to read each fieldLiquidation Events: how to read each field: No message in a second — No liquidation pushed (if connected); Disconnected period — Unknown; Multiple in one second — Only latest pushed; Side / price / qty — In each event; Daily total — Lower bound.No message in a secondNo liquidation pushed (if connected)Disconnected periodUnknownMultiple in one secondOnly latest pushedSide / price / qtyIn each eventDaily totalLower bound
Liquidation Events: missing vs zero, field by field. Original ChartsPod editorial graphic.

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Handling policy

Policy for this sourcePolicy for this source: Track connection uptime; Label totals as sampled; Don't zero-fill disconnected periods; Compare with OI drops; Keep raw events.POLICY FOR THIS SOURCETrack connection uptimeLabel totals as sampledDon't zero-fill disconnected periodsCompare with OI dropsKeep raw events
Apply this policy to every liquidation events request. Original ChartsPod editorial graphic.

Illustrative: a cascade produces dozens of forced orders in one second; the stream delivers one. A dashboard summing the stream shows a small number and calls it 'total liquidations'.

Conclusion

Related: Aggregated vs Single-Exchange Open Interest in Crypto: How to Read the Data With Price Context, Binance Open-Interest Data: Null vs Zero - Handle Missing Fields Correctly.

Treat 'no message' as zero only for windows where you were connected, and label aggregated liquidation figures as sampled.

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Questions readers ask

Is Binance's liquidation stream complete?

No; it's a snapshot of at most the latest event per 1000 ms.

Does no message mean no liquidations?

Only while connected and for that window.

How should totals be labelled?

As sampled lower bounds.

Sources and methodology

Field definitions come from DEX Screener's API reference, CoinGecko's onchain API documentation and Binance's Spot API documentation, read 17 October 2026. Where a schema was not visible in the documentation, this guide says so and describes defensive handling rather than asserting field behaviour.

  1. Binance USD-M: Liquidation order streams — snapshot of at most the latest liquidation per 1000 ms.
  2. Binance: USD-M Futures market data API — trades, depth, funding and open interest.

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.