Messages

{
  "data": {
    "state": "liquidation_started",
    "user_id": 220042,
    "isolated": true,
    "currency": "USDC",
    "margin_balance": 110,
    "maintenance_margin": 120,
    "initial_margin": 150,
    "close_out_margin": 130,
    "equity": 110,
    "timestamp": 1750000400000
  }
}

User

user.isolated.liquidation

Lets a main account observe the liquidation, ADL, and LSP activity of all of its isolated-margin subaccounts, without subscribing to each subaccount’s own user.liquidation channel individually.

Every event on this channel is a fan-out copy of an event also delivered on the affected subaccount’s own user.liquidation channel — the payload is identical, including isolated: true and the subaccount’s user_id. The main account’s own liquidation activity is never delivered here; it stays on the main account’s regular user.liquidation channel.

Requires the account:read scope on an API key belonging to the main account, and is only available while isolated margin is enabled on the platform.

Messages

{
  "data": {
    "state": "liquidation_started",
    "user_id": 220042,
    "isolated": true,
    "currency": "USDC",
    "margin_balance": 110,
    "maintenance_margin": 120,
    "initial_margin": 150,
    "close_out_margin": 130,
    "equity": 110,
    "timestamp": 1750000400000
  }
}

Subscription Request

type:object

Client sends subscription request to subscribe to notification channel. Please refer to Notification page for more information.

Subscription Notification Data

type:object

Server sends subscription notification data

data

type:object

required

state

type:enum

required

The stage of the liquidation/ADL/LSP process this notification represents:

liquidation_started / liquidation_completed: The standard (order-book) liquidation process has started or completed for this account.
close_out_liquidation_started / close_out_liquidation_completed: The LSP/ADL close-out process has started or completed for this account. An account can go through this pair, the liquidation_started/liquidation_completed pair, or both in sequence (e.g. LSP/ADL close-out first, handed off to standard liquidation if it can't fully resolve the breach).
lsp_transfer: A position was transferred off this account to an LSP participant. Sent to the liquidated (source) account — see the user.lsp channel for the notification sent to the receiving participant.
adl_transfer: A position was auto-deleveraged off this account. Sent to the account being deleveraged (source).
adl_transfer_received: A position was auto-deleveraged onto this account from a counterparty. Sent to the receiving (counterparty) account.

Available options: liquidation_started, liquidation_completed, close_out_liquidation_started, close_out_liquidation_completed, lsp_transfer, adl_transfer, adl_transfer_received

user_id

type:integer

required

Unique user identifier

isolated

type:boolean

Present and true only when this event applies to an isolated-margin subaccount.

currency

type:enum

Currency, i.e "BTC", "ETH", "USDC"

Available options: BTC, ETH, USDC, USDT, EURR

margin_balance

type:number