Hyperliquid Whale Tracker

What this page actually shows

Every number above is derived from the public Hyperliquid API. Hyperliquid settles perpetual futures on-chain, which means position sizes, entries, realised profit and account values are visible to anyone who queries for them. There is no insider feed here and no special access: LabelYX reads the same public data you could read yourself, and reshapes it into something you can act on in a few seconds instead of a few hours.

The tracked set covers 47,049 wallets that appear on Hyperliquid's leaderboard. Vault addresses are filtered out at the source, so what remains is wallets trading their own perp positions rather than pooled depositor capital. The four time windows (24 hours, 7 days, 30 days and all time) are recomputed independently, so a wallet can top the daily table on one lucky trade while sitting nowhere near the all-time list.

How to read the PnL distribution

The histogram groups every tracked wallet into a profit bucket. The shape of that distribution is usually more informative than any individual name in the table below it. Two things are worth looking at specifically.

First, the ratio between the losing side and the winning side. Perpetual futures are close to a zero-sum instrument before fees and strictly negative-sum after them, so a healthy-looking market still produces far more losing wallets than winning ones. Seeing that laid out as a distribution rather than as a headline number is a useful corrective to leaderboard survivorship, where the only wallets anyone talks about are the ones that worked.

Second, the fatness of the right tail. A distribution where profit is concentrated in a handful of enormous wallets tells you something different from one where thousands of mid-sized accounts are modestly green. Click any bar to open the wallets inside that bucket, which is the fastest way to find accounts that are quietly profitable without being large enough to appear in a top 50.

Account value, PnL and ROI answer three different questions

The table sorts on all three, and confusing them is the most common mistake people make when reading a leaderboard.

Reading two of these together is far more useful than sorting on any one. A wallet with a very high ROI and a small account value is often someone who got a single leveraged bet right, and their next trade has no particular reason to work. A wallet with a large account value, a steady positive PnL and unremarkable ROI is much more likely to be running something repeatable.

What a whale's position does not tell you

This is the part most whale-watching tools skip, and it is the part that costs people money. A visible position is a snapshot with several important things cropped out of it.

• Entry timing. You are seeing the position now, not the reasoning that opened it. By the time a large position is visible and being discussed, the move it was positioned for may already be most of the way done.
• Hedges you cannot see. A trader may be long here and short the same exposure on a centralised exchange, or holding offsetting spot. What reads as an aggressive directional bet can be one leg of a market-neutral trade.
• Other addresses. Nothing stops a trader from splitting activity across multiple wallets and sub-accounts. One address is one view of a book that may be much larger.
• Position size relative to their net worth. A $2m position is a different decision for someone with $50m than for someone with $2.1m. Copying the trade without copying the balance sheet copies the exposure but not the risk tolerance.
• Time horizon. A wallet that can sit through a 40% drawdown for six months is running a strategy you may not be able to run, regardless of whether they are eventually right.

A practical workflow for researching a wallet

The table is a starting point, not a conclusion. When a name looks interesting, this is a reasonable order to check things in:

• Open the dashboard. Click the address to load its full LabelYX view: realised PnL, win rate, fees paid and current positions computed across its entire history.
• Check drawdown before profit. The drawdown view shows the worst peak-to-trough decline the account has survived. That number tells you whether the returns came from a strategy you could actually sit through.
• Look for consistency in trade history. Many trades of similar size with a stable win rate reads very differently from one enormous winner surrounded by noise. The second pattern is far more common near the top of any leaderboard.
• Check the fee and funding drag. A wallet that trades constantly can pay more in fees and funding than it earns in edge. Both are broken out per wallet.
• Watch before you follow. Add the address to your watchlist and observe it through a losing stretch before you consider mirroring anything. Watchlists are stored in your own browser and need no account.

Where this data stops

Three honest limits. The tracked set only includes wallets that have traded enough to appear on Hyperliquid's leaderboard, so it is not a census of every account. Vault performance is excluded here by design and lives on the vaults page instead. And spot holdings, positions on other venues and off-exchange balances are all outside what the Hyperliquid API can report, so a wallet's perp activity is never the whole picture of what that trader is doing.

If you want the mechanics rather than the live data, the whale tracking guide walks through the process step by step, and on-chain analysis 101 covers the broader discipline of reading public blockchain data.