Source coverage and observation time
The public leaderboard and Hyperliquid public APIs are the main sources. A date can be a collection, calculation, or stored-observation time rather than final trade time. Retries and batch intervals can create differences from a live market screen.
Profit and return metrics
- PNL
- Profit or loss supplied by the source or aggregated for an observation window. Realized and unrealized PNL are different scopes.
- ROI
- A source leaderboard return, or post-selection PNL divided by account value at selection. Deposits, withdrawals, and changing capital can affect it.
- ROE
- A return shown against margin or evaluated capital. It is sensitive to leverage and estimated margin and should not be compared blindly across cards.
- Account value / equity
- The account value returned by the API at observation time. It is not the same as withdrawable cash, margin used, or position notional.
Order and win-rate metrics
- Closed order
- Public closing fills or fills with closed PNL grouped by an order identifier. Partial fills can be combined.
- Win / loss / flat
- A grouped closing order is a win above zero PNL, a loss below zero, and flat near zero.
- Win rate
- Wins divided by wins plus losses. Flat results are excluded, so small samples can be misleading.
- Average PNL
- Realized PNL in the observation window divided by the number of closed orders.
Specialist qualification, score, and confidence
A profile must meet all four current minimums: 5 closed orders, 4 decisive orders, 50% win rate, and USD 250 realized PNL. Specialty Score combines the 95% Wilson lower bound (85%) and logarithmic sample strength (15%).
- EMERGING: fewer than 25 decisive orders
- PROVEN: 25 to 49 decisive orders
- ESTABLISHED: 50 or more decisive orders
- Data limited means API fill limits may not cover the full window.
Positions, direction, and leverage
- Position notional
- Dollar value of position size, not invested principal or maximum loss.
- Long / short bias
- Share of observed long and short notional for a wallet or cohort; it is not a forecast.
- Leverage
- Leverage shown on the source position. Effective risk changes with cross or isolated margin and the account state.
- Liquidation price
- The price returned by the public API and subject to immediate change from margin, funding, positions, and price movement.
PNL Cohort bands
The USD 1M account-value and recent-activity gates apply before these bands. Names are observation labels, not quality judgments.
- APEX: all-time PNL at least USD 1M
- IN PROFIT: USD 0 to below USD 1M
- BLEEDING: below USD 0 and above -USD 1M
- RED MILLION CLUB: -USD 1M or lower
Position events and real-time behavior
Events are inferred from differences between snapshots. A public WebSocket trade can trigger a faster state check, but the resulting view still requires wallet-state retrieval and storage and is not a tick-by-tick execution feed.
Safer interpretation
- Check the observation window and calculation time.
- Read sample size, realized PNL, and data-limited status with win rate.
- Do not assume one public address represents one person or strategy.
- Selection removal, rank changes, and performance reversals are normal.