Finding · 29 Oct 2026 · data as of 29 Oct 2026
The largest vault on Hyperliquid, part by part.
Hyperliquidity Provider (HLP) is Hyperliquid’s own vault: it makes markets and handles liquidations for the exchange. With $172.5M in deposits it holds 66% of the $263.3M in the vaults we check. We rate it, but we don’t rank it against managers.
The seven sub-vaults of Hyperliquidity Provider (HLP)
Each sub-vault is assessed on its own record; none is ranked.
| Sub-vault | Tier or reason | Score | 90% range | Deposits |
|---|---|---|---|---|
| HLP Liquidator | HighHigh | 73.6 | 50.0–76.2 | $1.0M |
| HLP Strategy A | AverageAverage | 49.4 | 42.9–59.6 | $3.1M |
| HLP Strategy B | Below averageBelow | 40.3 | 36.8–44.5 | $3.1M |
| HLP Strategy X | Insufficient independent decisions | — | — | $100.6M |
| HLP Liquidator 2 | Insufficient independent decisions | — | — | $30.0M |
| HLP Liquidator 3 | Capital data incomplete | — | — | $1.0M |
| HLP Liquidator 4 | Insufficient independent decisions | — | — | $1.0M |
The combined record
The combined record scores 73.5, with a 90% range of 50.6–77.1, tier High. The whole range sits above 50. Over 521 days (26 May 2025 – 28 Oct 2026), $1 became $1.17, and the deepest fall from a peak was 1.1%.
Part by part
Hyperliquidity Provider (HLP) itself makes no trades. Its record is the combined book of seven sub-vaults, and we assess each on its own:
HLP Liquidator: High, 73.6, range 50.0–76.2. The range reaches down to 50, so luck can’t be ruled out. Marked: provisional range.
HLP Strategy A: Average, 49.4, range 42.9–59.6. The range crosses 50, so luck can’t be ruled out.
HLP Strategy B: Below average, 40.3, range 36.8–44.5. The whole range sits below 50.
HLP Strategy X ($100.6M): not rated — insufficient independent decisions. It made 6 trades: one independent decision.
HLP Liquidator 2 ($30.0M): not rated — insufficient independent decisions. It made 111,808 trades: three independent decisions.
HLP Liquidator 3 ($1.0M): not rated — capital data incomplete.
HLP Liquidator 4 ($1.0M): not rated — insufficient independent decisions. It made 8,754 trades: six independent decisions.
What it means
A depositor buys the combined book, so the combined rating is the one that applies to their money. The parts show that the evidence appears only at the level of the whole: on their own records, none of the parts shows it. The largest single part, HLP Strategy X, holds $100.6M.
How we counted
HLP’s money is counted once, at the parent; its sub-vaults are not counted as vaults of their own. The parent’s record is the combined book of its sub-vaults, and each sub-vault is assessed on its own record. A part “shows evidence of skill” when its whole 90% range sits above 50. The claim is recomputed with every refresh: if a part’s range moves wholly above 50, the finding says so.
Data as of 29 Oct 2026, method 0.9. Public data only: the Hyperliquid API and its trade archive. Live numbers for every vault are on the ratings list; how a rating is built is on the method page. Not investment advice.