Hyperliquid vaults compared by track record

The short answer

A Hyperliquid vault is a shared trading account: you deposit USDC and a trader, the leader, trades the pool on Hyperliquid’s perps. You share the gains and losses in proportion to your deposit. User-vault leaders keep 10% of profits and must keep at least 5% of the vault in their own money. See how Hyperliquid vaults work.

These are Hyperliquid’s original HyperCore vaults, the ones in the app’s Vaults tab. Hyperliquid’s docs now call them “legacy”: they can trade validator-operated perps only, not spot or HIP-3 markets, and the docs point builders to tokenized vaults on HyperEVM instead. Those newer vaults are not in this comparison.

On November 4, 2026, Hyperliquid’s vault list showed 3,063 open vaults, but only 18 held $1M or more. The table below compares all 18 on their record. We don’t rank by returns: a high recent APR usually reflects a short lucky stretch, and the vaults with the best 30 days are often the ones that fall hardest next.

Every vault holding $1M or more

Sorted by TVL (total value locked, the USDC in the vault). TVL, age and PnL from Hyperliquid’s vault list at 08:09 UTC on November 4, 2026; drawdown, leader share and deposit status from Hyperliquid’s API at 21:00 UTC the same day. HLP’s sub-strategy vaults are left out to avoid counting HLP twice.

Vault	TVL	Age (days)	All-time PnL	Est. max drawdown	Leader’s share
HLP (Hyperliquidity Provider)	$151.59M	1279	$138.59M	6%	0.2%
Growi HF	$12.59M	848	$2.88M	12%	5.5%
Systemic Strategies L/S Grids	$11.37M	650	$2.43M	26%	7.9%
drkmttr	$8.88M	329	$5.35M	53%	36.7%
DOUBLETOP Vault	$6.87M	139	$227k	13%	6.1%
Systemic Strategies HyperGrowth	$6.37M	431	$6.81M	41%	12.3%
BredoStrategy	$5.60M	259	$2.22M	48%	10.2%
Long HYPE & BTC / Short Garbage (closed)	$2.93M	573	$2.73M	52%	52.3%
Hyperrr	$2.12M	681	$824k	70%	25.6%
FC Genesis - Quantum	$2.04M	417	−$501k	19%	43.5%
Bitcoin Moving Average Long/Short	$2.02M	398	−$670k	39%	8.8%
Long LINK Short XRP	$1.49M	468	−$301k	96%	97.8%
Orbit Value Strategies	$1.41M	324	$10k	20%	5.3%
Enjoyooor V3 (closed)	$1.39M	200	$314k	56%	20.0%
Black Ops	$1.34M	300	$73k	26%	18.6%
Quantitative Market Neutral Strategy	$1.14M	209	$21k	3%	8.4%
Ultron	$1.13M	335	−$624k	26%	22.4%
AIQuantPulse	$1.09M	275	−$131k	11%	14.4%

How to read it. All-time PnL is the vault’s cumulative profit or loss in dollars since launch, for all depositors together. Estimated max drawdown is the deepest fall from a previous high in a time-weighted index we build from the vault’s PnL history, so deposits and withdrawals don’t count as gains or losses; the history has roughly weekly points, so sharp dips inside a week are missed and the true figure may be worse. Leader’s share is how much of the vault the leader owns. “(closed)” marks a vault not accepting new deposits. Click a name to open the vault in the Hyperliquid app.

Vaults that pass our screens

We apply four plain screens. None measures skill, and passing is not a recommendation:

1. At least 365 days old, so the record covers more than one market regime.
2. Positive all-time PnL for depositors as a whole.
3. Estimated max drawdown under 30%.
4. Open to new deposits.

Vault	Passes	What stands out
HLP	All four	The protocol vault: market making and liquidations for Hyperliquid itself; no profit share; 4-day lockup
Growi HF	All four	Oldest large user vault after HLP (848 days); about 12% estimated worst drawdown; leader holds 5.5%, near the minimum
Systemic Strategies L/S Grids	All four	650 days; about 26% estimated worst drawdown; leader holds 7.9%
Systemic Strategies HyperGrowth	Fails drawdown (41%)	Largest all-time PnL among user vaults ($6.81M)
Long HYPE & BTC / Short Garbage	Fails drawdown (52%), closed to deposits	Leader owns 52%
FC Genesis - Quantum, Bitcoin Moving Average Long/Short, Ultron	Fail all-time PnL	Each down $0.5M or more for depositors since launch

Four of the 18 are under a year old. Two (Long HYPE & BTC / Short Garbage and Enjoyooor V3) were not accepting deposits.

What to check before you deposit

• The leader’s stake. A leader who owns 30% or more of the vault loses alongside you. One at the 5% minimum has less of their own money at risk.
• The strategy description. Each vault page has one. Directional bets (long one coin, short another) can swing far more than a market-neutral or grid strategy.
• Drawdown, not APR. The APR the app shows is backward-looking and can flip sign in a week. Ask how much you could stomach losing, then look at the worst fall.
• Liquidity on exit. After the lockup you can withdraw at any time, but the leader may have to close positions to pay you, at whatever price the market offers.
• What can go wrong. Vaults trade leveraged perps with no insurance. One $1M-plus vault in our snapshot had an estimated worst drawdown of 96%. Read liquidation explained.

HLP is a different kind of vault: it is Hyperliquid’s own market maker and takes over liquidations, so its returns depend on trader flow rather than one person’s calls. It has had sharp losing days too. See HLP explained and the HLP vault guide.

Where the data comes from

The vault list is Hyperliquid’s own (stats-data.hyperliquid.xyz, the file the app reads), and per-vault details come from Hyperliquid’s info API (vaultDetails). The full list of open vaults over $100k, updated with every site build, is on our vaults dataset page. To look inside a vault’s positions, use an explorer such as HypurrScan; see Hyperliquid explorers compared. Vault names are chosen by their leaders; we list them as published, minus decorative brackets and symbols. We have no arrangement with any vault leader.