Hyperliquid

An analytics and trade-pod platform built on top of Hyperliquid’s perpetual futures. It continuously indexes Hyperliquid trading activity, computes trader and asset performance metrics, and lets you build filters and pods to automate your workflow.

Unlike prediction markets, perpetual futures have no market resolution: positions are long or short, can use leverage, and are exited by closing them at a price — the trader’s own exits, your stop-loss/take-profit settings, or (in paper copy trading) when the trader you follow closes.

What You Can Do

• Track top traders: browse ranked perpetuals traders with performance metrics like PnL, account value, dollar-weighted win rate, Sharpe ratio, funding alpha (shown as Funding α in the app), and a composite Trader Score
• Analyze assets: explore perp assets with price, 24-hour change, volume, open interest, funding rate, and max leverage
• Explore distributions: use bucketed views within the Traders and Assets tabs to understand how things distribute across metric ranges
• Build filters: combine trader criteria, asset criteria, trade criteria, and whitelists/blacklists into reusable filters
• Set up pods: attach email alerts or paper copy-trade strategies to your filters, or create filter-less paper discretionary pods for manual trading
• Get AI analysis: generate on-demand research and assessments for any trader or asset

Dashboard Tabs

The Hyperliquid dashboard is organized into seven tabs:

New here? Start with the Getting Started walkthrough.

Activity Tab

The Activity tab is the notification center for everything Hyperliquid delivers in-app. It collects trade notifications (matches fired by your filters and pods), alert messages, and system messages in a single real-time feed.

• A badge count on the Activity tab shows how many unread notifications you have; visiting the tab marks them viewed.
• Toggles let you show or hide Trade Notifications and Alerts, and to switch to an Archived Only view.
• Archive All / Unarchive All buttons batch-clear or restore the feed. New updates stream in live over WebSocket while you watch.

Email alerts are delivered separately, to your inbox, in addition to the in-app feed. See Pods for email pods and their throttle limits.

Key Concepts

Perpetual Futures

Perpetual futures let you go long or short an asset (like BTC or ETH) with leverage. Positions have no expiry and no resolution — they stay open until you close them. Because of leverage, both profits and losses are magnified, and returns compound through funding payments.

Funding Rate

Funding is a periodic payment between longs and shorts that keeps the perpetual price anchored to the underlying. Hyperliquid settles funding hourly across perps. The underlying value is an hourly decimal — for example 0.0000125, which is 0.00125% per hour.

How it’s shown depends on the surface:

• The Assets tab and asset detail page display the hourly rate as a percent (the raw hourly decimal × 100 — e.g. 0.0000125 renders as +0.0013%). The column tooltip labels it “current hourly funding rate”.
• The Filter Builder’s funding criterion is entered and displayed as an annualized APR (the UI converts between the two behind the scenes). An hourly rate of 0.0000125 annualizes to roughly 10.95% APR.
• The AI Analysis report for an asset shows Funding APR (annualized).
• The Explore tab’s funding criterion matches the raw hourly decimal directly — an APR figure you type there won’t behave the way you expect, so convert before using it.

A positive funding rate means longs pay shorts; a negative rate means shorts pay longs. Positive funding is a tailwind for short strategies, negative funding for long strategies.

Win Rate

The Win Rate shown everywhere in the app is dollar-weighted (dollarWeightedWinRate): each closed position is weighted by its size, not just counted. A trader who wins big on large positions and loses small on small ones reads higher than a raw win/loss tally would suggest. Trader win rate is always dollar-weighted; pod performance cards use a count-based win rate (wins ÷ closes).

Trader Score

A composite 0 to 100 score that combines percentile ranks across performance, risk management, consistency, edge, and experience. Higher is better. See the Traders page for the full breakdown.

Filters

Multi-dimensional search criteria that define which trades you care about. Filters combine trader metrics, asset attributes, trade size, and manual whitelists/blacklists. See the Filters guide.

Pods

Pods decide what happens when something fires. A filter-based pod acts when a trade matches your filter: pushing an alert to the Activity Tab and/or email, or recording a paper copy trade with simulated capital. Discretionary pods are filter-less — you trade manually from the pod page, picking the coin and placing orders yourself, on simulated capital. See the Pods guide.

Important Notes

• Most trader PnL and performance metrics are net of fees: the per-close PnL that drives win rate, Sharpe, Sortino, Kelly, profit factor, dollar-weighted win rate, and max drawdown is closed PnL − fee. PnL is net of trading fees too, over the trailing 180 days; funding is reported separately as Funding Alpha. See Traders for the precise rule.
• The Win Rate column is always the dollar-weighted win rate, not raw win count.
• The Assets surfaces show funding as the hourly rate (a percent); the Filter Builder’s funding criterion is annualized APR. See Funding Rate above.
• Paper trading is fully simulated. No real capital is involved.