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0x939f…04d2 · Hyperliquid address profile

0x939f95036d2e7b6d7419ec072bf9d967352204d2View on Hyperliquid ↗ ·

Not offered yetDelta-neutral carry Mark-to-market cumulative profit $46.16M (perps + spot, since 2025-07-27), ranked #12 site-wide. All-time P&L on the exchange's own record (incl. spot, vaults, staking): $47.90M.

Three things to check before following him

This address still holds
$8.23M
perps + spot + vaults + staking; perps account $8.14M, 3 open positions
Ever liquidated
Yes
31 times · $97K 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 $46.16M 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$44.78M$24.99M

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 ($19.78M). The hatched band on the left is before our data starts (20250727); the exchange had him at $1.41M by then — that is why our number differs from other sites.

His account equity

Equity at start
$6.04M
2025-07-27
Equity now
$8.33M
2026-11-07
All-time high
$45.40M
now 18% of peak
P&L over the same span
$46.16M
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
$46.16M
Max drawdown
$11.79M
Profit vs equity
101.7%
vs his peak equity of $45.40M
Active
469 days

Where the money comes from

93.1%6.9%$46.16Mnet
HYPE$16.80MBTC$11.11METH$6.62MSOL$5.57MHYPE-$5.15MXRP$4.55MDOGE$3.59MASTER-$2.07M
minus fees−$500K (1.07%)

Funding is 6.9% 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

Size100Resilience86Maker27Funding80Consistency26Spread61
$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#12 of 7,432 · top 0.1%only 11 made more · 14.89% 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

8.0
Out of every 10 positions, how many ended up green
0.53×
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 · High frequency
3,249 fills per day. Mirroring this account needs order placement at his speed and fees low enough not to eat the thin per-trade margin. That is an execution-layer problem, and we have not wired it into copy trading yet.

Also · Delta-neutral carry
He buys spot and shorts the perp on HYPE at the same time, hedge ratio 0.90 (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

BTC Short$12.18M
2025-10-14 → 2025-12-02 · 50 days · 14,390 fills · peak $45.18M (280% of equity) · —
HYPE↗ Long$4.16M
2025-11-19 → 2026-01-31 · 74 days · 64,619 fills · peak $14.86M (56% of equity) · —
BTC Short$2.98M
2025-07-27 → 2025-09-25 · 61 days · 9,890 fills · peak $30.91M (335% of equity) · —

3 worst rounds

HYPE↗ Short$-10.91M
2026-03-09 → 2026-11-07 · 244 days · 156,514 fills · peak $30.79M (79% of equity) · —
BTC Long$-7.36M
2026-01-08 → 2026-09-15 · 251 days · 77,864 fills · peak $36.13M (80% of equity) · —
ASTER Short$-2.81M
2025-09-19 → 2025-10-09 · 21 days · 6,589 fills · peak $8.03M (123% of equity) · —

All rounds (74 rounds in total; the 30 largest by P&L are listed)

CoinSideFrom → toDaysFillsPeak % of equityP&LUnfold
ETH↗Long2026-10-07 → 2026-11-07325,863255%$-1.64M—
BTCShort2026-09-25 → 2026-11-07444,323292%$2.55M—
HYPE↗Short2026-03-09 → 2026-11-07244156,51479%$-10.91M—
BTCLong2026-01-08 → 2026-09-1525177,86480%$-7.36M—
ZECShort2026-05-20 → 2026-05-27811,34642%$1.24M—
ETH↗Short2026-02-06 → 2026-03-143718,95927%$-845K—
UNIShort2026-01-15 → 2026-03-125736,8617%$542K—
HYPE↗Short2026-02-01 → 2026-02-232332,47334%$1.19M—
ADAShort2025-11-22 → 2026-02-057631,46821%$1.53M—
DOGEShort2025-11-22 → 2026-02-057624,23011%$1.05M—
XRPShort2025-11-22 → 2026-02-057614,24813%$1.38M—
HYPE↗Long2025-11-19 → 2026-01-317464,61956%$4.16M—
BTCShort2025-10-14 → 2025-12-025014,390280%$12.18M—
HYPE↗Short2025-10-23 → 2025-11-18276,88730%$692K—
SOLShort2025-10-13 → 2025-11-04235,847119%$1.93M—
ETH↗Short2025-10-12 → 2025-11-04249,58370%$2.60M—
ASTERLong2025-10-10 → 2025-10-1454,24342%$713K—
SOLLong2025-10-10 → 2025-10-1235,90369%$2.08M—
ETH↗Long2025-10-10 → 2025-10-1122,486429%$4.30M—
DOGELong2025-10-10 → 2025-10-1123,46332%$742K—
XRPShort2025-10-05 → 2025-10-1062,77099%$2.89M—
ASTERShort2025-09-19 → 2025-10-09216,589123%$-2.81M—
ETH↗Short2025-07-27 → 2025-10-097522,450628%$1.99M—
BTCShort2025-10-05 → 2025-10-0953,351327%$838K—
BTCShort2025-07-27 → 2025-09-25619,890335%$2.98M—
SOLShort2025-09-09 → 2025-09-25173,35071%$496K—
HYPE↗Long2025-09-09 → 2025-09-221422,68179%$-589K—
SOLShort2025-07-27 → 2025-08-19243,17893%$584K—
DOGEShort2025-07-27 → 2025-08-12172,809115%$882K—
SUIShort2025-07-27 → 2025-08-0162,333113%$966K—

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)$46.16M
Max drawdown (mark-to-market)$11.79M
Return (÷ true intraday peak exposure)45.2%
Profit vs his peak account equity101.7%
His peak account equity$45.40M
Resilience (P&L ÷ drawdown)3.92
Largest exposure held$102.22M
Open-to-flat rounds87
Spread across20 coins
Fills inside those rounds870,807
Typical round length13.5 days
Same-day in-and-out share14.9%
Taker share95.6%
Fills per day3,249.3
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.