How JoinEm ranks Hyperliquid traders

Data

Everything comes from Hyperliquid's public API: the leaderboard, each wallet's fills, funding payments and positions. We find wallets on the leaderboard and in the public trade stream, download up to a year of fills, and rebuild closed trades from them. Each day we also read every listed account's value and perp profit history and its open positions, so losses a trader hasn't taken yet are counted. A trader is listed only if they pass the copyable rules and their perp trading is up over 90 days. Rankings refresh hourly from the latest daily recalculation. Free pages show positions from the daily snapshot; Pro shows them live.

Who is left out

Market makers and high-frequency bots (hundreds of fills a day or mostly maker orders) can't be copied and never appear. Wallets with too few trades to judge, or whose profit came mostly from one or two trades, are typed Lucky and kept off the rankings.

Metrics

Metric	What it means
Closed trade	A round trip rebuilt from public fills: from flat, into a position, back to flat, per market.
Open position	A position the trader still holds. Every figure except average hold counts it at today's price, so losses a trader hasn't taken yet still show.
Trading P&L (perps)	What the trader made trading perps over the window, open positions included, after fees and funding, from Hyperliquid's own perp history (the same figure its leaderboard counts). Spot holdings, staking and vaults don't count: copiers copy perps. Only when that history is missing do we show closed-trade profit instead, and say so.
Return	Perp trading P&L as a share of the whole account's value, time-weighted over the window from Hyperliquid's own history. We divide by the whole account because many accounts keep their collateral in spot, so the perp balance alone can be near zero. Deposits and withdrawals are neither gains nor losses, and open positions count. An account younger than the window shows its return since it opened.
Win rate	Share of trades that made money, counting each open position as a trade at today's price: a losing position the trader hasn't closed counts as a loss. On its own it says little; read it with profit factor.
Profit factor	Everything won divided by everything lost, open positions included at today's price. Above 2 is strong, below 1.2 is weak.
Max drawdown	The deepest fall of that same time-weighted perp trading return from a high, open positions included.
Profit per trade	Average net profit per trade as a share of the position size, open positions included at today's price.
Average hold	How long closed trades were held. Open positions aren't finished, so they don't count here.
Score	0–100, describing the 90-day record against other copyable traders: profit per trade (40%) and win rate (20%), with records under about 20 trades pulled toward the middle, and perp trading profit against its worst dollar fall, open positions included (40%). It describes a record; it is not a forecast (see below).
Few trades	Under 30 closed trades in 90 days. Shown as a tag; the numbers can be luck as much as skill.

Does the ranking predict anything?

We check every ranking a month later: was the top half up on perp trading more often than the bottom half? The first live result appears here once a ranking is a month old. On past data (eight dates, two groups of traders) the top half was up about as often as the rest, so read the score as a description of a record, not a forecast.

Trader types

Type	Rule (last 90 days)
Consistent	Wins 55%+ of trades, profit factor 1.5+, perp trading never fell more than 20%, 20+ trades.
Grower	Perp trading returned 100%+ in 90 days, or 200%+ all-time. Deposits don't count.
Sniper	Two trades a week or fewer, averaging 3%+ profit each.
Rising	Perp trading returned 50%+ in the last 30, 14 or 7 days. Early signal, higher risk.
Whale	Account of $500k or more.
Active	Copyable, but none of the types above.
Lucky	Most of the profit came from one or two trades, or too few trades to judge yet. Not ranked.

Each trader also gets a holding horizon, a market focus and a size class:

Tag	Values
Horizon	Scalper (under 1 hour) · Day (1–24 hours) · Swing (1–7 days) · Position (over a week)
Market	Majors (BTC, ETH, SOL) · Alts · Stocks & commodities · Mixed
Size	Small (under $50k) · Mid ($50k–$500k) · Whale ($500k and up)

Names

Wallets are shown by address. A few well-known wallets carry a name that the trader uses publicly or that is widely attributed to them; we don't guess identities, and anyone can ask for a name to be removed.