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0x8ce2…fa5d · Hyperliquid address profile

0x8ce248a79ad77b12dcf6eb04d3b6c8aba98bfa5dView on Hyperliquid ↗ ·

⚠️ Understand firstDelta-neutral carry Mark-to-market cumulative profit $23K (perps + spot, since 2025-07-27), ranked #4924 site-wide. All-time P&L on the exchange's own record (incl. spot, vaults, staking): $79K.

Three things to check before following him

This address still holds
$59K
perps + spot + vaults + staking; perps account $357, no open positions
Ever liquidated
Yes
1 times · $900 notional
Time since last trade
Traded today
last fill 2026-11-07

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 $23K 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

compressedour ledger starts here$79K$97K

Three definitions on one axis: green = our mark-to-market ledger (perps + spot) · red = the exchange's public "closed P&L" · grey dashed = exchange all-in (also includes vaults and staking). The shaded gap is what closed-P&L misses ($-18K). The hatched band on the left is before our data starts (20250727); the exchange had him at $56K by then — that is why our number differs from other sites.

His account equity

Equity at start
$65K
2025-07-27
Equity now
$59K
2026-11-07
All-time high
$85K
now 70% of peak
P&L over the same span
$23K
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. Account equity covers perps, spot, vaults and staking.

Cumulative P&L
$23K
Max drawdown
$13K
Profit vs equity
25.4%
vs his peak equity of $92K
Active
469 days

Where the money comes from

98.2%1.8%$23Knet
TST$31KUXPL-$12KHYPE-$3,202XPL$2,091xyz:CXMT$1,502xyz:UNITR$1,433PONS-$1,053YZY$913
minus fees−$1,368 (5.52%)

Funding is 1.8% of gross. Fees are negative, so they are listed under the ring as a deduction rather than forced into the pie.

Within each bar: green = directional, amber = funding. Right of the line is profit, left is loss. Italic names are spot.

What kind of trader

Size34Resilience59Maker69Funding65Consistency53Spread75
$100 – $156: 23$156 – $245: 20$245 – $383: 44$383 – $599: 70$599 – $938: 120$938 – $1,468: 214$1,468 – $2,297: 257$2,297 – $3,594: 322$3,594 – $5,623: 311$5,623 – $8,799: 363$8,799 – $14K: 359$14K – $22K: 352$22K – $34K: 357$34K – $53K: 417$53K – $83K: 709$83K – $129K: 743$129K – $202K: 615$202K – $316K: 528$316K – $495K: 486$495K – $774K: 332$774K – $1.21M: 226$1.21M – $1.90M: 169$1.90M – $2.97M: 112$2.97M – $4.64M: 92$4.64M – $7.26M: 71$7.26M – $11.36M: 55$11.36M – $17.78M: 27$17.78M – $27.83M: 14$27.83M – $43.54M: 10$43.54M – $68.13M: 7$68.13M – $106.61M: 2$106.61M – $166.81M: 3$166.81M – $261.02M: 1$261.02M – $408.42M: 1$100$1K$10K$100K$1M$10M$100M$1B#4,924 of 7,432 · top 66.2%only 4,923 made more · 0.01% of #1

Axes are percentiles among all addresses — further out means more pronounced, not better.

All 6 axes are facts, not a score. The right chart is cumulative profit across all 7,432 profitable addresses (log scale); the line is him — everyone to the right made more.

How he makes it

7.1
Out of every 10 positions, how many ended up green
2.71×
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.

Understand this before following him · Delta-neutral carry
He buys spot and shorts the perp on HYPE at the same time, hedge ratio 1.15 (1.0 = fully hedged). He looks like a short here, but he is not betting on direction — he earns funding. Shorting alongside him copies only one of his two legs.

Every round he traded

A round is one coin, from first entry until fully flat. The curve is that round's P&L in dollars at market prices.
Coins marked ↗ open the chart zoomed to that round. Unfold shows every fill: how he scaled in and how he got out.

3 most profitable rounds

HYPE Short$843
2026-03-24 → 2026-04-02 · 10 days · 28 fills · peak $12K (23% of equity) · —
xyz:SKHX Long$720
2026-07-26 → 2026-07-30 · 5 days · 257 fills · peak $9,484 (13% of equity) · —
xyz:SKHX Long$410
2026-07-16 → 2026-07-21 · 6 days · 26 fills · peak $4,823 (9% of equity) · —

3 worst rounds

HYPE Short$-1,540
2025-07-27 → 2025-10-07 · 73 days · 21 fills · peak $31K (48% of equity) · —
PONS Long$-1,188
2026-09-09 → 2026-10-22 · 44 days · 103 fills · peak $2,475 (4% of equity) · —
xyz:SKHX Long$-960
2026-10-06 → 2026-11-07 · 33 days · 22 fills · peak $7,999 (14% of equity) · —

All rounds (34 rounds in total; the 30 largest by P&L are listed)

CoinSideFrom → toDaysFillsPeak % of equityP&LUnfold
xyz:SKHXLong2026-10-06 → 2026-11-07332214%$-960—
PONSLong2026-11-02 → 2026-11-03251%$-77—
PONSLong2026-09-09 → 2026-10-22441034%$-1,188—
xyz:UNITREELong2026-09-11 → 2026-09-14410225%$47—
HYPEShort2026-08-22 → 2026-09-12224833%$151—
PONSLong2026-09-02 → 2026-09-032341%$167—
xyz:SKHXLong2026-08-06 → 2026-08-10559—$-30—
xyz:SKHXLong2026-08-04 → 2026-08-0525212%$157—
xyz:SKHXShort2026-08-02 → 2026-08-032393%$51—
xyz:SKHXLong2026-07-26 → 2026-07-30525713%$720—
xyz:SKHXLong2026-07-22 → 2026-07-232753%$-89—
xyz:SKHYShort2026-07-22 → 2026-07-232770%$-38—
xyz:SKHXLong2026-07-16 → 2026-07-216269%$410—
xyz:CLLong2026-06-26 → 2026-07-01674%$-51—
xyz:EWY↗Long2026-06-10 → 2026-06-112333%$59—
HYPEShort2026-05-20 → 2026-05-212135%$-88—
xyz:EWY↗Long2026-04-13 → 2026-04-142114%$63—
HYPEShort2026-03-24 → 2026-04-02102823%$843—
xyz:EWY↗Long2026-03-31 → 2026-04-01285%$147—
xyz:EWY↗Long2026-03-27 → 2026-03-293115%$-66—
xyz:EWY↗Long2026-03-24 → 2026-03-25212—$69—
xyz:EWY↗Long2026-03-20 → 2026-03-2341912%$93—
UMALong2025-12-08 → 2025-12-191268%$-290—
MONShort2025-10-29 → 2025-11-047102%$295—
METLong2025-10-20 → 2025-10-22362%$-123—
XPLShort2025-10-10 → 2025-10-112936%$468—
HYPEShort2025-07-27 → 2025-10-07732148%$-1,540—
WLFIShort2025-08-25 → 2025-08-262244%$198—
WLFILong2025-08-24 → 2025-08-2413816%$-1,225—
PUMPShort2025-07-27 → 2025-08-01624%$56—

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.

Every number

Cumulative P&L (mark-to-market)$23K
Max drawdown (mark-to-market)$13K
Return (÷ true intraday peak exposure)55.5%
Profit vs his peak account equity25.4%
His peak account equity$92K
Resilience (P&L ÷ drawdown)1.75
Largest exposure held$42K
Open-to-flat rounds161
Spread across31 coins
Fills inside those rounds5,104
Typical round length3.0 days
Same-day in-and-out share78.9%
Taker share50.1%
Fills per day34.3
Days active469

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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.