Hyperliquid perps · Feb 1 – Sep 18, 2026

One in four wallets made money

Of 827,801 wallets that traded Hyperliquid perpetuals over seven and a half months, 219,545 finished ahead — after fees, after funding, with open positions marked at the Sep 18 close. That is a strong showing for a market where every trade pays a fee and one side's gain is the other side's loss.

219,545wallets finished profitable (26.5%)
2,608wallets made more than $100K
425wallets made more than $1M
$2.64Bwon by profitable wallets

Where every wallet landed

Most results are small either way: two thirds of wallets lost less than $1,000, and another fifth made less than $1,000. The 2,608 wallets that made more than $100K took $2.28B between them.

A few hundred wallets hold most of the money

Of the $2.64B won, 63% went to the 425 wallets that made more than $1M each. Losses are almost as concentrated: 415 wallets lost 55% of the $2.80B that went the other way.

Bigger traders are profitable more often

The share of profitable wallets climbs from one in four among those that traded under $10K to nearly half among those that traded over $100M. Big traders win bigger, but lose bigger too — the median wallet still finished slightly down in every tier.

Share of wallets profitable50%
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Stock traders have done better than crypto traders

Comparing wallets that put at least 80% of their buying into one kind of market. At every size above $10K, wallets trading stock, commodity and index perps were profitable more often — 57% versus 40% among the largest.

Mostly crypto (≥80%)Mostly stocks & commodities (≥80%)

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AlphaHunter screens millions of on-chain traders by realized PnL, win rate and holding time, so you can study and follow the few who are consistently ahead.

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What's counted. Perpetual futures only: realized profit after fees, plus funding paid or received, plus open positions valued at the last trade on Sep 18, 2026. Spot trading is excluded. Only wallets that traded perps in the window are included.

What isn't. The data starts Feb 1, 2026, so a wallet that was already trading before then is judged only on what happened inside the window. Stock traders' better record covers one stretch of 2026 and may not hold in other markets. Nothing here is financial advice.

Source: Hyperliquid node fill and funding data, analysed by AlphaHunter.