Polywatcher glossary

These are the terms you will meet on Polywatcher, defined the way the site uses them. For how to read each page, see the guide.

Orders

Perps: Polymarket Perps is Polymarket's perpetual futures market, and every page on Polywatcher covers it.
Hyperliquid: A decentralized perpetual futures exchange. Live and the whale tracker also list its orders of $50K or more on the markets Polymarket Perps lists.
Platform: The exchange an order traded on: Polymarket Perps or Hyperliquid. Plus and Pro name it on each row.
Order: Live lists each order of $1K or more that we record.
Fill: One part of an order. An order often fills in several parts, and Free lists each fill as its own row.
Whale order: An order of $50K or more, listed on the whale tracker.
Open: An order that opens a position. It can open a new position, add to an open position, or open a position on the other side as the order closes the old position.
Close: An order that closes part or all of a position.
Long: A position that gains when the price rises.
Short: A position that gains when the price falls.
Buy and sell: The side of an order. A Hyperliquid order shows Buy or Sell until the position it opened or closed is known, then Open or Close.
Leverage: On Pro, shown next to an order's label, as in Open long 5x: the leverage of the position the order opened or closed.

Liquidation: When a position's losses use up its margin, the platform closes it by force. The liquidations page lists each one of $1K or more that we record.
Realized P&L: Profit and loss counted on closed trades, not open positions.
Leaderboard: The top 25 Polymarket Perps wallets by P&L, volume and account value. See the leaderboard.
Account value: One of the three rankings on the leaderboard, next to P&L and volume.

Order type: On Plus and Pro, how an order was placed. Market filled at once against the order book. Limit waited in the book for its price.
Wallet type: On Plus and Pro, how a wallet enters its trades: market maker, patient directional, aggressive directional or hybrid.