How to Use the Hyperliquid Leaderboard for Copy Trading Research
Find top traders, evaluate their strategy, and track wallets you want to follow — free on LabelYX, no sign-up.
What is the Hyperliquid Leaderboard?
The Hyperliquid Leaderboard ranks the top 100 traders on the platform by realized PnL across four time windows: 24h, 7d, 30d and All Time. Because all Hyperliquid trading data is public on-chain, anyone can see the full performance history of every wallet — including trade-level entry and exit prices, position sizing, and how much risk was taken to generate each dollar of profit.
LabelYX builds a complete analytics dashboard on top of this data so you can do proper due diligence before deciding to follow any trader.
Choosing the right time window
The leaderboard's four time windows serve different research purposes:
- 24h / 7d — surfaces traders on a hot streak. Useful for finding who is currently positioned correctly, but short windows can reflect luck as much as skill.
- 30d — balances recency with enough data to identify a real edge. A good first filter for copy trading research.
- All Time — reveals long-term consistent performers. If a wallet appears near the top across multiple time windows, that is a stronger signal than a single lucky week.
Start with All Time and cross-reference with 30d. Wallets in the top 20 on both are the most reliable starting points for deeper analysis.
Opening a trader's analytics dashboard
Click any wallet address in the leaderboard table to open LabelYX's full analytics suite. The dashboard loads instantly — no account, no sign-up, no wallet connection required. You will see:
- Live account value and unrealized PnL on open positions
- Cumulative PnL equity curve over the full trading history
- Overall and per-asset win rate
- All open positions with leverage and current liquidation distance
- Fees paid over time
From here, navigate to the specific pages below for deeper evaluation.
Evaluating win rate and per-asset performance
Open the Performance page (linked in the sidebar under the wallet address). This shows:
- Overall win rate — the percentage of closed trades that ended in profit
- Profit factor — total gross profit divided by total gross loss (above 1.5 is healthy)
- Average win vs. average loss size — a trader with 40% win rate can still be profitable if wins are 3× the size of losses
- Per-asset breakdown — which coins the trader has the highest win rate and PnL on, versus which coins they lose on
- Long vs. short split — some traders only profit going long, which matters in a bear market
A sustainable edge shows up as a positive profit factor across multiple assets and across both long and short sides — not just one lucky trade on one coin.
Assessing drawdown and risk management
High PnL alone does not make a trader worth following. Open the Drawdown page to see the full peak-to-trough history. Key things to check:
- Max drawdown — a wallet with +$500k PnL but a 75% max drawdown hit a point where $750 of every $1,000 in the account was gone. Can you stomach that?
- Recovery time — how long did it take to come back from the worst drawdown? A quick recovery suggests adaptability; a slow one may indicate the strategy was broken and got lucky.
- Current drawdown — if the wallet is already in a deep drawdown when you start following, you may be joining at the worst possible moment.
As a rule of thumb: look for max drawdown below 30% for strategies you plan to size meaningfully.
Checking consistency with the Sessions heatmap
The Sessions page shows a heatmap of PnL by day of week and hour of day, plus a per-session summary. This reveals:
- Whether the trader is consistently profitable across many sessions or all the PnL comes from a handful of outlier trades
- What time zones or market sessions they trade in — useful if you want to manually mirror trades during their active hours
- Whether recent sessions show deteriorating performance compared to older ones
Reviewing trade history for strategy clues
The Trades page shows every closed trade with FIFO-matched entry and exit prices, realized PnL, fees and hold time. Look for:
- Typical hold time — scalpers hold minutes; swing traders hold days. Know what you are copying.
- Position sizing patterns — do they scale in and out, or take fixed sizes?
- How they handle losing trades — do they cut quickly or average down into losses?
The Journal page groups trades by asset and shows entry/exit details side by side, which is particularly useful for understanding a trader's per-market approach.
Monitoring wallets with the Watchlist
Inside any wallet dashboard, use the Watchlist button to save the address. Saved wallets appear in the sidebar for instant one-click access. You can monitor multiple traders simultaneously — checking who has opened new positions, whose equity is moving, and whether their recent performance still matches the historical pattern you evaluated.
Start researching Hyperliquid traders now
No sign-up · Read-only · Free · Not financial advice