Vault transparency

Hyperliquid Vaults

Inspect public vault details before following a strategy. HypeBasis shows read-only data and risk context, not recommendations.

Last updated: 2026-05-05Last reviewed: 2026-05-05

Look up before you follow

Use this page to look up vault context before you follow, not as a vault leaderboard. Public API fields are useful context, but they do not make a vault suitable or safe.

  • Look up one public vault address at a time.
  • Review AUM, PnL windows, drawdown, followers, and exposed manager-fee fields.
  • Compare performance with liquidity, withdrawals, and manager incentives.
  • No global leaderboard, no copy-trading recommendation, no wallet connection.

Try the public HLP vault if you want a known example:

After a lookup

Read the vault detail page as a full risk picture: performance, risk, and incentives belong together.

Portfolio reader

Compare vault-style risk with a public perp account risk read.

Market risk

Check liquidity, funding, and OI for markets a strategy may depend on.

Copy-trading risk

Review liquidation, manager incentive, and protocol risk language.

HLP risk checks

See how vault and HLP fields are interpreted without rankings.

HLP and vault risk guide

What depositors take on: shared PnL, drawdowns, lockups, and leader economics.

Performance windows

Review day, week, month, and all-time account value, PnL, volume, and drawdown where the API exposes history.

Manager incentives

Vault manager economics can include fields such as leader commission or leader fraction where the API exposes them. Treat these as incentive context, not a complete fee schedule.

Public data only

No wallet connection or signature is needed. You can inspect a vault address without approving anything.

How to read APR and fees

Vault detail pages show APR, leader fraction, and leader commission when those fields are returned by Hyperliquid. These values are public data points for understanding historical performance and manager incentives. They are not guarantees, suitability labels, or recommendations to follow a vault.

What to check before copying a vault

Vault pages can make performance easy to compare, but the useful question is risk-adjusted behavior: how much drawdown happened, whether PnL came from concentrated exposure, how current withdrawals look, and whether the strategy can survive a changed market regime.

Is the PnL realized or mark-to-market?

Vault snapshots can mix realized and unrealized context depending on the portfolio window. Treat the number as a prompt for deeper review.

How bad was the drawdown?

Maximum drawdown compares the largest peak-to-trough move in the available account-value history. A high-return vault can still have painful drawdowns.

Can deposits exit quickly?

Vault mechanics, available liquidity, position risk, and current max withdrawable values may outweigh headline performance.

Who controls the strategy?

A vault depositor is exposed to manager decisions. Historical PnL does not prove future execution quality or risk control.

Known example

The public HLP vault can be opened directly for a sanity check.

Open HLP vault

Portfolio reader

Inspect public perp account exposure and liquidation context for an address.

Market data

Compare funding, volume, open interest, and liquidity before interpreting vault risk.

Risk disclaimer

Review leverage, protocol, oracle, liquidation, and copy-trading risk notes.

Vault risk checks

Review how HLP and vault-risk fields are handled.

Risk notice
Vaults and copy-trading are high risk. Public performance can include drawdowns, manager decisions, leverage, liquidity constraints, and unrealized PnL; historical returns do not prove future results.

Sources