Hyperliquid Explorer for Order-Driven Trading

Hyperliquid Explorer

A sophisticated Hyperliquid Explorer built for you to see what really happens on a high-speed, order-driven trading system running on HyperEVM.

Order-Level Execution Transparency

Real-Time Matching and Fill Visibility

Clear Fund Flow and Balance Impact per Trade

Example Transactions

0xb962f53bb2d0074c5dd278b3fc4c17b8b92e2157d1b8e6972ea07308c4e3ca13

CrossCurve Incident

~ $2.8 M

0x25c08b3882ade18cbbda81521afff7239c0e91d050f6c178968802cb1b2e2b04

SwapNet Incident

~ $13.4 M

0xa6fabda0bab72c210b176844e42a02c15056bca9422c6ac602e272ce1e00f689

Aperture Finance Incident

~ $3.7 M

0x1fc886dcacbc3e186941236be0e6a1605348d724c0368e21fbf485cb6157ba8f

Saga Incident

~ $7 M

0x569733b8016ef9418f0b6bde8c14224d9e759e79301499908ecbcd956a0651f5

Makina Incident

~ $5 M

0x7ed83315359deef0acd92bd96320b27dc7d36238bde8d904a67623c2eb43c682

Trust Wallet Incident

~ $8.5 M

What Our Hyperliquid Explorer Offers

Our Hyperliquid Explorer is built for native, order-driven trading on HyperEVM, so it can enable you to :

Reveal Order-Book Execution in Real Time

Hyperliquid runs a native on-chain order book, not AMMs. Our Hyperliquid Explorer shows how orders enter the book, get matched, and fill over time. You see partial fills, execution priority, and price impact instead of a single final trade result.

Review Trades with Matching and Margin Context

Track Position, Margin, and PnL Together

Turn High-Speed Trading Data into Decisions

How to Analyze a Complex Hyperliquid Transaction in 3 Steps

Phalcon Explorer empowers you to understand how a real Hyperliquid trading event unfolds.

Trace the Real Trading Execution

Start by tracing how an order enters the on-chain order book, gets matched, and fills over time. Use our Hyperliquid Explorer to follow execution paths and detect abnormal or risky trading behavior early.

Review Trading Behavior and Market Context

Review how leverage, margin, and order parameters interact under live market conditions. Examine execution behavior, matching outcomes, and balance impact on our Hyperliquid Explorer to understand why specific fills or liquidations occurred.

Evaluate the Real Trading Impact

Evaluate how positions, margin, and PnL actually change after execution. Track liquidations, forced position updates, and affected accounts with our Hyperliquid Explorer to judge real risk and capital impact clearly.

Use Cases

Developers

Order-Driven Execution Review

Hyperliquid trading logic is order-driven. Our Hyperliquid Explorer helps you review matching behavior, margin changes, and position updates at execution level, so you can understand how trading logic behaves under real market conditions.

Security Researchers

Liquidation and Manipulation Analysis

Our Hyperliquid Explorer lets you make analysis of attack transactions simpler. You can quickly see where risk was triggered and how impact spread across accounts.

High-Frequency Traders

Fill and PnL Visibility

Hyperliquid moves fast and trades fill quickly. Our Hyperliquid Explorer shows fills, fees, and PnL clearly, helping you adjust strategies with confidence.

Key Features

Trading Execution Flow on Hyperliquid

Our Hyperliquid Explorer shows the full invocation flow of a trade on HyperEVM, from order submission to matching, partial fills, final fills, or liquidation. You can follow how trading actions are invoked, how they progress step by step, and how execution unfolds inside the order-driven system. This helps you understand how a trade actually runs.

Try This Transaction

Fund and Margin Movement

On Hyperliquid, risk moves through margin and collateral, not direct transfers. Our Hyperliquid Explorer shows how funds flow during trading actions. You can track where value comes from, how margin is used or released, and where funds finally go within a single trade. This makes capital movement and risk transfer clear, even in fast and complex trading scenarios.

Balance Changes and Trading Impact

A single Hyperliquid trade can update balances, margin, and PnL at the same time. Our Hyperliquid Explorer shows balance changes for every involved account. You can clearly see who was affected, how much changed, and whether losses, gains, or liquidations occurred. This gives you a clear view of the real financial impact of each trading event.

Community Endorsement

"Anytime a post-mortem needs to be done on an attack, these are the explorers to use. They give fine-grained details on exactly how the hacks go down."

Patrick Collins

@PatrickAlphaC

"The Phalcon tx explorer by @BlockSecTeam is 🔥 One particular useful feature is the Fund Flow, which provides a visual summary of value movement on a single tx 🤯"

gmhacker.eth

@realgmhacker

"beautiful UI, Explorer with actual value and utility.. All my smart contract security people and auditers: give them a follow @Phalcon_xyz not affiliated, just love the product, discovered some weeks ago"

quant

@Quantaraum

"Recently, I've been using the Phalcon Transaction Explorer @Phalcon_xyz and am impressed by its debugging feature. It's been an absolute lifesaver during my recent hack investigations! Any recommendations for other tools that could aid in hack probes?"

izhuer.eth

@i2huer

"– @Phalcon_xyz (built by @BlockSecTeam ), advanced explorer. • Visualized balance changes and funds flow; • Function level analysis with source code view; • Simulation of Ethereum & BSC transactions. Best for: On-chain analysts, devs."

Stacy Muur

@stacy_muur

"a major thank you to the @phalcon_xyz team whose advanced monitoring system caught this and alerted the crew a seemingly innocuous 0 ETH transaction with encrypted call data….that would’ve drained the full 477 WETH treasury"

Timshel

@TimshelXYZ

Why Professionals Choose Phalcon Explorer

Real-Time Trading Safety

Hyperliquid trading moves fast and carries leverage risks. Phalcon Explorer lets you see fills, margin shifts, and liquidation outcomes clearly, helping you judge trading risk before losses skyrocket.

High-Speed Market Performance

Hyperliquid runs at trading speed, not block speed. Phalcon Explorer helps you follow execution, matching, and position-related balance updates quickly, without delay or slow page loading.

Easy-to-Read Trading Views

Trading data can feel overwhelming. Clear order, position, and PnL views on Phalcon Explorer together help you understand what happened without decoding raw transactions.

Cost-Efficient Risk Insight

You can get clear visibility into trading behavior, margin usage, and balance impact on Phalcon Explorer, without expensive tools or complex setup, saving time and effort.