Live investigation · Hyperliquid perps

Twelve accounts, one tide.

The largest traders on Hyperliquid trade in public. Every position, every fill and every dollar of profit sits on an open ledger. Whaleline reads that ledger as it moves and turns it into charts you can question.

Data: Hyperliquid public info API Reading positions… Sample: 12 public leaderboard accounts

one account, 30-day trading indexwhale indexReading account histories…

Equity across the sample

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Open positions, gross

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Net direction

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Chapter one

Reading the tide

Where the money leans

Net notional by coin across the sample, live

Reading twelve accounts from Hyperliquid…

Where the money leans

Add up every open perp position across the twelve accounts and net longs against shorts, coin by coin. Bars to the right are net long, bars to the left net short, in dollars of notional.

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Size is not the same as risk

Each dot is one account: how much equity it holds against how much it has open. The further a dot sits above the diagonal guide, the more leverage it is carrying right now.

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Thirty days of trading, without the deposits

Account value moves when money comes in or out. We strip that away and chain only trading profit and loss, so each line starts at 100 and moves with skill, luck and leverage alone.

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One line for all of them

Average those trading returns, period by period, and you get a single whale index. It is a model, not a fund: nobody can hold it, but it shows whether the biggest accounts, together, are winning.

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Chapter two

Open any account

Paste any Hyperliquid address or pick one from the sample. Everything below is read live from the public info API in your browser.

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— Explorer

Account value: —
Open notional: —
Leverage: —
Unrealised PnL: —
Withdrawable: —

Equity curve

Open positions

	Side		Entry	Mark			Liq. price		Lev.	Funding since open
Pick an account to see its positions.

Latest fills

Fills appear here once an account is loaded.

Chapter three

Build your own whale index

Choose the accounts, the weighting and the window. The index chains each account’s trading return per period, so deposits and withdrawals never move it. It is a model of what the group did, not something you can buy.

Members

Loading the sample…

Weighting

Window

Index return: —
Max drawdown: —
Volatility per step: —
Members up: —

Member	Weight	Return	Max DD	Contribution

Chapter four

The crowd at the top

Every coin the sample holds, with how many accounts lean each way, the dollars behind them and the market’s own funding and open interest beside it. Funding is shown annualised from the current hourly rate.

Coin	Long vs short accounts	Net notional	Gross	Mark	24h	Funding, APR	Open interest	Sample share of OI

Chapter five

How far could the market push them?

Move every coin by the same percentage and recompute the account you are viewing: new equity, the margin it must keep, and which positions cross their liquidation price. A uniform shock is a simplification; real markets do not move in lockstep.

Market move −10%

Viewing: —

Equity now: —
Equity after the move: —
Maintenance margin after: —
Survives a uniform move of: —

Chapter six

If you had followed

A simulation, not a promise. Scale the viewed account’s trading index to your own capital, cap the leverage you would accept, and subtract a cost per trade for lagging behind the whale.

Load an account to run the simulation.

Methodology

How we read the ledger

Sources. Positions, margin and account value come from Hyperliquid’s clearinghouseState; equity and profit history from portfolio; fills from userFills; prices, funding and open interest from allMids and metaAndAssetCtxs. All calls go straight from your browser to Hyperliquid’s public API. No key, no account, no server of ours in the middle.

The sample. Twelve addresses picked on 2 November 2026 from Hyperliquid’s public leaderboard: large account value, active trading volume in the last month, and open perp positions. Names shown are the display names those accounts set themselves on the leaderboard. We do not know who is behind any address.

The trading index. For each history point we take the change in cumulative PnL and divide it by the account value at the previous point. Chaining those returns from 100 gives an index that ignores deposits and withdrawals. Steps where the account held less than 2% of its peak value in the window are skipped, so a tiny opening balance cannot dominate the result. The group index averages the members’ step returns with the weights you choose.

The stress test. Every position is revalued at mark × (1 + move). Maintenance margin is scaled with the change in notional. An account “survives” a move while its equity stays above that margin. It ignores funding, fees, isolated-margin detail and the liquidation engine’s own behaviour.

Questions

Before you read too much into it

Can I trade the whales here?

No. Whaleline reads public data and draws it. It has no trading, no deposits and no wallet connection. Nothing here moves money.

Is the data real?

Yes. Every number in the viewer, the crowd table and the cover is read live from Hyperliquid’s public API. The whale index, stress test and follow simulation are models built on that real data, and they are labelled as such.

Who are these accounts?

Addresses from the public leaderboard. Some have chosen display names; most have not. We make no claim about who controls them, and an address can change hands or behaviour at any time.

Why does the index differ from account value?

Account value jumps when money is deposited or withdrawn. The index only follows trading profit and loss, so a whale that withdraws half its balance does not look like it lost half.

Would copying them have worked?

The simulation shows a rough answer under strong assumptions: you see the same returns, scaled by your leverage cap, minus a lag cost. Real copying is later, smaller and pays different fees. Past returns say little about the next month.

How fresh is it?

Prices refresh every 20 seconds, positions every minute while the page is open, histories every few minutes. The time in the top bar shows the last successful read.

Can I look up my own account?

Paste any address. Nothing you type is stored or sent anywhere except to Hyperliquid’s public API, which is where the data lives anyway.

Is this advice?

No. Large accounts lose money too, sometimes all of it. Treat this as journalism about public data, not a signal.