Are the Exchanges Healthy Right Now?
Two honest ways to watch exchange health without inside access: the insurance funds venues publish (the capital cushion that absorbs liquidation losses; we record the balances daily because nobody, including the venues, publishes their history) and the behavior of the venues' own data feeds, which our collection network holds open around the clock. This page shows both, with the limits stated plainly.
Our feeds, venue by venue
The age of the newest row in each recorded stream. This is our network's view: a stale row means the venue or our collector had a problem, and we say which honestly rather than dressing it up as an exchange SLA.
| Venue | Feed | Last row (UTC) | Age | Status |
|---|---|---|---|---|
| Binance | liquidations | 08-13 22:03 | 40s ago | live |
| Bybit | liquidations | 08-13 22:01 | 3m ago | live |
| OKX | liquidations | 08-13 22:04 | 6s ago | live |
| Deribit | options tape | 08-13 21:58 | 6m ago | live |
| Binance | open interest 5m | 08-13 21:35 | 29m ago | lagging |
| Coinbase | spot minutes | 08-13 22:02 | 2m ago | live |
| Binance | spot minutes | 08-13 21:51 | 13m ago | live |
| Binance | perp minutes | 08-13 21:34 | 30m ago | live |
Liquidation feeds are naturally sparse in quiet hours; thresholds account for each feed's own cadence.
The insurance fund record
Stable-asset balances of the venues' liquidation insurance funds, recorded once per UTC day. A fund that grinds down during cascades is doing its job; a fund that keeps shrinking without cascades is a question worth asking.
No venue publishes historical balances. This archive exists because we record it forward, which is exactly why it starts recently and cannot be backfilled.
Methodology and honest limits
Insurance balances come from the venues' public endpoints (Binance USDT-M insuranceBalance, Bybit v5 insurance), summing stable-asset balances only, recorded nightly at 00:20 UTC. OKX and others do not expose comparable public balances; we list what can be verified, not what cannot.
Feed status derives from our own recorded tables: real liquidation prints, the Deribit options tape, Binance open-interest snapshots and the spot minute recorders. It measures the venue AND our collector together; that compound honesty is the point, since it is exactly what downstream data quality depends on.
An insurance fund is a cushion, not a solvency proof. Balances can be topped up, split across pools or redefined by the venue. Treat trends and drawdowns as questions to investigate, not verdicts.
FAQ
What is an exchange insurance fund?
The capital pool that absorbs losses when a liquidated position closes worse than its bankruptcy price. When it is too small, exchanges claw back profits or auto-deleverage winners; its size and trend are a real, if partial, health signal.
Why does the history start in 2026?
Because the venues only expose current balances, never history. We record the balance every day going forward; the archive is the product, and it cannot be reconstructed for the past.
Is a shrinking fund a red flag?
Not by itself: paying out during liquidation cascades is what the fund is for. A persistent decline without matching market stress is the pattern worth investigating, which is exactly what a recorded daily series makes visible.
Why do you show your own feed status instead of exchange uptime?
Because we can prove it. We hold sockets to these venues around the clock and archive what arrives; the freshness of those archives is a fact we can publish. Third-party uptime claims without receipts are marketing.