Hyperliquid vaults: about 1 in 4 is in profit
Anyone can open a vault on Hyperliquid and let others copy it, and every vault's result is public. We pulled the full list (data as of 2026-11-03). Of 7,802 user vaults that have traded, 26.1% are in profit. 2,374 have lost more than $1,000; 702 have made more than $1,000.
The numbers
| Group | Vaults | In profit | Median P&L | Total P&L |
|---|---|---|---|---|
| All user vaults with trading history | 7,802 | 26.1% | −$167 | −$75.0M |
| Closed | 5,031 | 29.0% | −$114 | −$24.4M |
| Still open | 2,771 | 20.7% | −$320 | −$50.6M |
| Still open, TVL ≥ $100K | 68 | 67.6% | +$20.5K | +$21.8M |
Data as of 2026-11-03. Hyperliquid's own HLP vaults (8 in total) are not included; see below.
How to read them
- A vault's P&L belongs to everyone in it, depositors included. It is not the manager's personal profit.
- Losses are concentrated. The 10 biggest losing vaults account for 37% of all losses, so the total says more about a few large vaults than about a typical one. Counting vaults is steadier: 2,374 lost more than $1,000, 702 made more than $1,000.
- Large open vaults look better partly because of survivorship. 67.6% of open vaults with at least $100K are in profit, but vaults that lose money tend to be withdrawn from and closed, so they drop out of this group.
- Hyperliquid's own HLP is a market-making vault run by the protocol, not a copy-trading strategy: TVL $150.3M, total P&L +$138.6M.
Before you trust a profit screenshot
A Hyperliquid portfolio page is public for every address, so a screenshot shows what some account did, not that it belongs to the person posting it. Ask for the address. Then paste it into the replayer to see every trade on the chart: where it entered, how it added, how long it sat through a loss.
- Open the replayer and click ＋Wallet in the left sidebar.
- Paste the vault or wallet address (starts with 0x). Reading the fills can take about half a minute.
- Click any trade in the list to see it on the chart.
Free shows the last 30 days; Pro reads all the history the API provides. More on wallet replay
Source and method
Data: Hyperliquid's public vault list (https://stats-data.hyperliquid.xyz/Mainnet/vaults), the same list the Hyperliquid site uses. P&L is each vault's all-time result. "With trading history" means an all-time P&L of more than $1 either way, which leaves out vaults that were created but never used. The 8 HLP vaults are excluded. No vault or person is singled out on this page.
Questions
Do copy-trading vaults on Hyperliquid make money?
Some do. As of 2026-11-03, 26.1% of 7,802 user vaults with trading history were in profit, and together they were down $75.0M.
Is a vault's P&L the manager's own profit?
No. It is the vault's total result, including every depositor's money.
How can I check a vault's trades?
Paste the vault address into Trade Replayer with ＋Wallet. Every fill is read from Hyperliquid's public API and drawn on the chart, with no wallet connection or private key.