vin268/cascade-lab-ledger

Cascade Research Lab ledger

A public, append-only record of a live research project on crypto liquidation cascades. A recorder listens to Binance USD-M futures liquidation orders (all symbols) and polls open interest for BTC, ETH, SOL, DOGE and XRP every minute. Each hour the aggregates below are recomputed and pushed here; every push is a commit, so the history of this dataset is the project's timestamped log.

Path	Content
hourly/YYYY-MM-DD.csv	per UTC hour: liquidations by side (count, USD), the largest one, the top symbol, the share of the hour the stream was connected (coverage), open-interest change of the core symbols
latest.json	the last 24 hours, used by the project's website
journey/lab.json	the studies, their stage, and the dated lab notebook

Read with care:

• SELL liquidations close long positions, BUY liquidations close shorts.
• Binance pushes at most one liquidation order per symbol per second, so counts and USD values are lower bounds when liquidations cluster.
• Hours with coverage below 1 had the stream disconnected for part of the hour.
• Coin-margined (COIN-M) orders that appear on the same stream are excluded. Until 30 Oct 2026 15:50 UTC they were counted with a wrong USD value (contracts multiplied by price); every hour has since been recomputed.
• Only aggregates are published; the raw order stream stays with the recorder.

Research only; nothing here is investment advice.