0x4e23…20c3 · Hyperliquid address profile

0x4e23288cee4960f9f962195c22948e4bc7ae20c3View on Hyperliquid ↗

Not offered yetMarket maker Mark-to-market cumulative profit $17.13M, ranked #42 site-wide.

Three things to check before following him

This address still holds
$32.84M
perps + spot + vaults + staking; perps account $9.10M, 5 open positions
Ever liquidated
Yes
875 times · $19.03M 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 $17.13M 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

$17.13M$23.52M

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 ($-6.39M). The hatched band on the left is before our data starts (20260403); the exchange had him at $0 by then — that is why our number differs from other sites.

His account equity

Equity at start
$514K
2026-04-08
Equity now
$32.80M
2026-09-22
All-time high
$32.80M
now 100% of peak
P&L over the same span
$17.13M
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
$17.13M
Max drawdown
$7.51M
Profit vs equity
52.2%
vs his peak equity of $32.84M
Active
171 days

Where the money comes from

$17.13Mnetminus fees−$344K (1.42%)
xyz:SNDK$5.98METH-$5.89Mxyz:DRAM$5.74MZEC$4.17Mxyz:MU$3.71MBTC$2.53Mxyz:INTC$2.50MHYPE-$2.44M

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

Funding is -38.5% 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

Size99Resilience64Maker91Funding5Consistency17Spread84axes = percentile among all (further out = more pronounced, not better)
#42top 0.5%9.92% 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

5.8
Out of every 10 positions, how many ended up green
1.15×
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 14.9% 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

ZEC Long$3.31M
2026-08-26 → 2026-09-16 · 22 days · 9,796 fills · peak $10.82M (39% of equity) ·
xyz:DRAM Short$2.48M
2026-06-02 → 2026-06-30 · 9 days · 22,341 fills · peak $23.33M (147% of equity) ·
BTC Short$2.43M
2026-05-15 → 2026-06-03 · 19 days · 11,097 fills · peak $21.67M (119% of equity) ·

3 worst rounds

ETH Short$-5.58M
2026-08-19 → 2026-08-26 · 8 days · 18,154 fills · peak $25.72M (105% of equity) ·
ETH Long$-1.63M
2026-09-18 → 2026-09-22 · 5 days · 9,001 fills · peak $19.56M (61% of equity) ·
xyz:SPCX Short$-1.04M
2026-06-12 → 2026-06-17 · 6 days · 19,981 fills · peak $22.29M (125% of equity) ·

All rounds (179 rounds in total; the 30 largest by P&L are listed)

CoinSideFrom → toDaysFillsPeak % of equityP&LUnfold
xyz:AMDLong2026-09-21 → 2026-09-2228,4120%$-876K
ETHLong2026-09-18 → 2026-09-2259,00161%$-1.63M
ETHShort2026-09-15 → 2026-09-17321,1201018%$2.00M
xyz:SNDKLong2026-09-14 → 2026-09-17413,66094%$967K
ZECLong2026-08-26 → 2026-09-16229,79639%$3.31M
ETHLong2026-09-14 → 2026-09-14113,06459%$-1.79M
ETHShort2026-09-08 → 2026-09-1362,27636%$866K
ETHShort2026-08-19 → 2026-08-26818,154105%$-5.58M
HYPEShort2026-08-19 → 2026-08-20216,64227%$-1.07M
xyz:SNDKLong2026-08-18 → 2026-08-20321,17541%$1.17M
xyz:MUShort2026-07-31 → 2026-08-181918,50229%$1.61M
xyz:SNDKLong2026-07-28 → 2026-08-076~59,26871%$1.29M
xyz:MUShort2026-07-29 → 2026-07-29111,1147%$-904K
xyz:DRAMShort2026-07-03 → 2026-07-169~22,52760%$1.92M
HYPEShort2026-07-13 → 2026-07-1429,7060%$-1.20M
xyz:SNDKShort2026-07-03 → 2026-07-0648,46815%$930K
xyz:SNDKLong2026-07-02 → 2026-07-0213,77240%$-1.03M
xyz:DRAMLong2026-07-01 → 2026-07-0226,27226%$1.35M
xyz:WDCShort2026-06-17 → 2026-07-021616,96040%$809K
xyz:SNDKShort2026-06-15 → 2026-07-011722,766135%$1.38M
xyz:MUShort2026-06-17 → 2026-07-011514,95872%$1.60M
xyz:DRAMShort2026-06-02 → 2026-06-309~22,341147%$2.48M
xyz:SPCXShort2026-06-12 → 2026-06-17619,981125%$-1.04M
HYPEShort2026-06-12 → 2026-06-1765,38052%$-943K
xyz:MUShort2026-06-09 → 2026-06-155~8,48060%$775K
xyz:SNDKShort2026-06-09 → 2026-06-10212,87038%$917K
xyz:INTCShort2026-05-20 → 2026-06-0918~21,174116%$1.01M
BTCShort2026-05-15 → 2026-06-0319~11,097119%$2.43M
xyz:ARMLong2026-06-01 → 2026-06-0115,7321%$-782K
HYPELong2026-05-03 → 2026-05-2315~19,60177%$1.81M

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)$17.13M
Max drawdown (mark-to-market)$7.51M
Return (÷ true intraday peak exposure)20.8%
Profit vs his peak account equity52.2%
His peak account equity$32.84M
Resilience (P&L ÷ drawdown)2.28
Largest exposure held$82.55M
Open-to-flat rounds193
Spread across40 coins
Fills inside those rounds1,443,473
Typical round length4.0 days
Same-day in-and-out share7.3%
Taker share14.9%
Fills per day9,955.0
Days active171

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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.