Hyperliquid leaderboard explained: how to read the top traders

The Hyperliquid leaderboard is a public ranking of trading accounts on Hyperliquid, sorted by how much they made over a period such as a week, a month or all time. Because every trade on Hyperliquid settles on its own chain, anyone can see each account's profit, return, trading volume and size. The list is a good place to find skilled traders, but only if you know which numbers to trust and which ones flatter.

What the leaderboard columns mean

• Profit (PnL): the dollar amount the account made or lost over the period, including closed trades and the change in open positions. This is the column that is hardest to fake.
• Return (ROI): profit divided by the money the account had to work with. It tells you how efficiently the account made money, not how much.
• Volume: the total dollar value of everything the account traded. High volume can mean an active trader, a market maker or a bot. It says nothing about skill on its own.
• Account size: what the account is worth right now, open positions included. It tells you how much weight the trader can move and how seriously to take the profit number.

The period matters as much as the column. A 7-day view rewards whoever caught the last big move. A 30-day view is a better test of a trader who can repeat it. All time shows who has survived several market phases, though it also includes accounts that made their money long ago and have done little since.

Why a huge return can be misleading

Return % is the number people screenshot, and it is the one most likely to mislead you. Two common reasons:

• A small starting balance. An account that begins the month with $2,000 and makes $40,000 shows a 2,000% return. An account that starts with $5,000,000 and makes $400,000 shows 8%. The second trader made ten times more money and probably takes far less risk per trade.
• Deposits and withdrawals. If an account starts small, then receives a large deposit and makes money on it, the return can be calculated against a base that was much smaller than the money actually at risk. The reverse also happens: big withdrawals can make a good month look ordinary.

A very high return over a short period usually means very high leverage on a small balance. That can be luck as easily as skill, and the same approach that made 2,000% can wipe the account out next week. This is why sasa shows any return above 1000% as '1000%+' instead of an exact figure: past that point the precise number tells you more about the starting balance than about the trader.

How to find traders worth watching

The goal is a short list of maybe five to ten accounts whose moves are worth noticing, not a ranking to follow blindly. A simple process:

1. Start with the 30-day sort. It filters out most one-trade wonders while still being recent.
2. Check the same account on 7 days and all time. Someone who appears near the top in all three periods has been profitable in more than one kind of market.
3. Look at account size. Accounts in the millions are more likely to be professional traders or funds, and their positions are big enough to matter.
4. Open the trader's page and look at their positions. Are they long and short across many markets, or one huge bet? Hedged, diversified books behave very differently from a single all-in position.
5. Watch for a while before drawing conclusions. A week of seeing how a trader opens, adds and cuts tells you more than any number on the list.

Be careful with accounts that trade enormous volume for small profit. Many of them are market makers, who earn by quoting both sides of the book. Their individual trades are not directional bets, so copying them makes no sense.

How sasa shows the top 100

On sasa's Data page (Market, then Data), the Top traders section takes Hyperliquid's public leaderboard and filters it to accounts worth $100K or more that are in profit over 30 days, then shows the top 100. You can sort by 7 days, 30 days or all time, and each row shows the return and account size next to the profit.

Each trader is listed under their own Hyperliquid display name if they have set one. If not, sasa names them by rank, for example 'Whale #4'. Tap a trader to open their page, which shows:

• Their live open positions, with size, entry and leverage.
• A long vs short bar showing how their book leans right now.
• Their moves this week: positions opened, added to, cut, flipped or closed.
• Their latest trades.

A bell on the trader's page turns on phone alerts, so you hear about it when that trader moves without keeping the page open. The same traders also feed the Whale moves section, which shows what the 30 biggest 30-day winners just did, and they are named in the Whale trades feed when they are one side of a large trade. For the wider picture of following these accounts, see how to track crypto whales and the Hyperliquid whale tracker guide.

What the leaderboard can't tell you

The leaderboard shows results, not reasons. You can't see whether a short was a bet or a hedge against spot holdings elsewhere, whether a trader is running several accounts, or whether they have already decided to close. A top trader can be wrong for a month. Treat their moves as information, one input next to funding, open interest and price, not as signals to copy. If you want to think through the risks of mirroring someone, read copy trading whales first.

If you decide to trade, sasa's Futures page gives access to Hyperliquid's markets with up to 20x leverage where it is available. Leverage can lose your whole position quickly, and nothing in this guide is financial advice.