0x1856…08ae · Hyperliquid address profile

0x185611e0343c14f53a4406891cb0fdc9e81808aeView on Hyperliquid ↗

Not offered yetMarket maker Mark-to-market cumulative profit $1.52M, ranked #446 site-wide.

Three things to check before following him

This address still holds
$1.21M
perps + spot + vaults + staking; perps account $662K, 38 open positions
Ever liquidated
Yes
3 times · $979 notional
Time since last trade
Traded today
last fill 2026-09-22

Those three numbers describe where he stands now. The curve below is a different thing — how much he made in the past. An address showing $1.52M of profit can be sitting on an empty account, and the P&L figure alone will never tell you.

Mark-to-market cumulative P&L

our ledger starts here$2.55M$2.14M

Three definitions on one axis: green = our mark-to-market ledger · red = the exchange's public "closed P&L" · grey dashed = exchange all-in. The shaded gap is what closed-P&L misses ($407K). The hatched band on the left is before our data starts (20250727); the exchange had him at $1.04M by then — that is why our number differs from other sites.

His account equity

Equity at start
$2.36M
2025-07-27
Equity now
$1.27M
2026-09-22
All-time high
$2.36M
now 54% of peak
P&L over the same span
$1.52M
from trading, deposits excluded

The green line above is how much he made trading (rebuilt from on-chain fills; deposits and withdrawals are invisible there). This amber line is how much money is in his account (from the exchange API, deposits included). Wherever the two diverge, he put money in or took money out. So "made a lot but little left" and "made little but holds a lot" are both possible and neither is strange.
⚠️ Equity is sampled weekly for anything older than a month (near-daily only recently); this line connects those points rather than measuring every day. ⚠️ It covers perps + spot + vaults + staking, not just the perps account.

Cumulative P&L
$1.52M
Max drawdown
$2.26M
Profit vs equity
57.1%
vs his peak equity of $2.66M
Active
423 days

Where the money comes from

75.8%24.2%$1.52Mnetminus fees−$41K (2.62%)
ZEC-$428Kxyz:SKHY$353KASTER-$338K0G$245KZEREBRO-$215KFARTCOIN$214KAXS-$211KSKR$209K

Within each bar: green = directional, amber = funding.

Funding is 24.2% of gross. Fees are negative, so they are listed under the ring as a deduction rather than forced into the pie.

What kind of trader

Size94Resilience20Maker99Funding91Consistency3Spread99axes = percentile among all (further out = more pronounced, not better)
#446top 5.6%0.88% of #1

All 6 axes are facts, not a score: percentiles among all addresses. Further out means more pronounced, not better.

How he makes it

5.5
Out of every 10 positions, how many ended up green
1.01×
Average win vs average loss

One high and one low is the norm — either number alone misleads, so they are always shown as a pair.

Why copy trading is not open yet · Market maker
Only 0.1% of his volume takes liquidity; the rest is quoting both sides. He earns the market-making spread, not direction — copying his fills copies the outcome, not the strategy. Following him means quoting both sides too, which is a different system.

Every round he traded

A round is one stretch of exposure in a single coin, from first entry until fully flat. Adding to or trimming a position does not start a new round; flipping long to short counts as two. So a single round can contain thousands of fills — both numbers are shown side by side so the pair reads consistently.
⚠️ "Days" counts days actually holding a position, which can be shorter than the span between the two dates. If he goes flat and later re-enters the same side, day-level segmentation cannot see the gap and treats it as one round (about 32% of rounds are like this). Rows where the span and the held days disagree carry a ~ after the day count; hover it for the exact gap. The curve is cumulative P&L in dollars at market prices for that round, not equity and not a percentage return: deposits and withdrawals are invisible on-chain, so no percentage can be computed. Same-day round trips are excluded here. Coin names carrying ↗ are clickable — they open that coin's candlestick chart with this wallet selected and the view zoomed to that exact round, so you can see where each add and trim landed. (Only for coins that have a chart page, and only when this wallet is on that page.)
The last column Unfold 🔒 is subscriber content: it lays out every single fill of that round in order, so you can see whether he sized in at once or scaled in, and whether he exited decisively or dragged it out. Available only for rounds that pass the filter (held 1–30 days, large enough P&L, flat at both ends). Free for 7 days when you connect a wallet — no payment needed.

3 most profitable rounds

xyz:SKHY Long$358K
2026-07-13 → 2026-08-29 · 48 days · 2,454 fills · peak $1.21M (125% of equity) ·
SKR Long$247K
2026-02-26 → 2026-09-15 · 24 days · 4,302 fills · peak $789K (85% of equity) ·
MET Short$177K
2025-11-06 → 2025-12-13 · 32 days · 3,366 fills · peak $488K (49% of equity) ·

3 worst rounds

ZEC Short$-331K
2025-10-03 → 2026-01-07 · 72 days · 14,573 fills · peak $609K (39% of equity) ·
ETH Short$-245K
2026-06-06 → 2026-08-20 · 76 days · 390 fills · peak $929K (102% of equity) ·
ZEREBRO Short$-240K
2026-04-17 → 2026-09-22 · 159 days · 2,472 fills · peak $531K (88% of equity) ·

All rounds (1,072 rounds in total; the 30 largest by P&L are listed)

CoinSideFrom → toDaysFillsPeak % of equityP&LUnfold
UNIShort2025-07-27 → 2026-09-2275~2,96453%$118K
ZECShort2026-06-07 → 2026-09-2211~1,24059%$-146K
ZEREBROShort2026-04-17 → 2026-09-221592,47288%$-240K
SKRLong2026-02-26 → 2026-09-1524~4,30285%$247K
ETHLong2026-08-21 → 2026-08-30101,266149%$-122K
xyz:SKHYLong2026-07-13 → 2026-08-29482,454125%$358K
KAITOShort2026-08-12 → 2026-08-24133,37319%$163K
ETHShort2026-06-06 → 2026-08-2076390102%$-245K
xyz:SKHXShort2026-07-30 → 2026-08-0461,811115%$-100K
kLUNCLong2025-10-11 → 2026-05-2135~3,91175%$-112K
ETHShort2026-01-14 → 2026-02-28469964%$106K
AXSLong2026-01-22 → 2026-02-10201,96437%$-119K
DASHLong2026-01-18 → 2026-02-04181,27437%$-105K
AXSShort2026-01-18 → 2026-01-21484168%$-103K
ZECShort2025-10-03 → 2026-01-0772~14,57339%$-331K
RESOLVLong2025-12-20 → 2025-12-2673,190157%$-120K
METShort2025-11-06 → 2025-12-1332~3,36649%$177K
MERLShort2025-12-01 → 2025-12-0334,07525%$109K
MERLShort2025-11-25 → 2025-11-2843,12625%$-160K
0GLong2025-11-07 → 2025-11-0821,13427%$105K
0GShort2025-11-03 → 2025-11-0642,65622%$128K
SNXShort2025-10-12 → 2025-10-21101,18734%$-148K
LAUNCHCOINLong2025-10-10 → 2025-10-112411%$169K
LAUNCHCOINShort2025-08-31 → 2025-10-09403,74229%$-128K
MNTShort2025-09-08 → 2025-10-0717~1,76746%$-122K
KAITOShort2025-09-20 → 2025-10-0511~2,19834%$-109K
ASTERShort2025-09-20 → 2025-09-23470431%$-184K
SUIShort2025-07-27 → 2025-09-1730~1,15541%$111K
PENGUShort2025-08-08 → 2025-09-1435~1,75936%$105K
FARTCOINShort2025-07-27 → 2025-07-30435429%$124K

Two rounds can both say "made $1M" and be nothing alike: one held steady the whole way, another sat 50% underwater before recovering, a third earned everything on the final day. The number hides that; the curve shows it. Curves are drawn only for rounds held 5 days or longer — shorter ones have too few points to be honest. This is what already happened, not a forecast.

Every number

Cumulative P&L (mark-to-market)$1.52M
Max drawdown (mark-to-market)$2.26M
Return (÷ true intraday peak exposure)13.8%
Profit vs his peak account equity57.1%
His peak account equity$2.66M
Resilience (P&L ÷ drawdown)0.67
Largest exposure held$10.96M
Open-to-flat rounds1475
Spread across206 coins
Fills inside those rounds658,969
Typical round length4.0 days
Same-day in-and-out share27.3%
Taker share0.1%
Fills per day1,561.5
Days active423

Similar addresses

0x082e843a431aef031264dc232693dd710aedca88 · 0x5d2f4460ac3514ada79f5d9838916e508ab39bb7 · 0x7717a7a245d9f950e586822b8c9b46863ed7bd7e · 0xe86b057f5eb764c9738d6b0d38170befd0723664 · 0x123dbca6a27005a3c4ce10cb66ee8ece8fc13bff · 0x4e23288cee4960f9f962195c22948e4bc7ae20c3

Where these numbers come from. Rebuilt from Hyperliquid's raw fill stream: each coin's position is cut into rounds from first entry to fully flat, then marked to the market price of every single day, plus funding, minus fees. Summing all 1.24M rounds reconciles to the daily mark-to-market P&L to 2.2e-16.

What this page is not. It describes how he made money in the past. It is not a claim that following him will make you money. We have never tested whether addresses near the top of this board do better next month — no evidence, no claim.