Hyperliquid top traders this week: cashed-out profit vs paper profit

Search "Hyperliquid top traders this week" and you get leaderboard screenshots, whale alert threads and dashboards sorted by 7-day PnL. The names change every week. What rarely changes is the method behind those lists: they sort on a number that includes open positions.

That number is real, but it is not money anyone has taken. This guide explains the two kinds of profit, how to tell them apart on any trader, and how CopyHype shows both.

What is the difference between cashed-out and paper profit?

Cashed-out profit comes from trades that were closed. Paper profit, or unrealized PnL, is the gain on positions that are still open, at today's price. The first is locked in. The second can grow, shrink or flip before the trader exits.

Most leaderboards and trackers add both together. That is fine for measuring an account. It is misleading for picking someone to copy.

Why do weekly lists favor paper profit?

Because the fastest way to top a 7-day list is one large open position that moved your way. A trader who opened $40 million of BTC at x5 and caught a 6% rise shows a huge week. They may not have closed anything.

Three things happen next, and only one is good for a copier:

• They close near the top. The paper profit becomes cashed-out profit. Good, but your copy, if it started this week, came in late.
• They hold, and the price gives it back. The week's star becomes an average account by Friday.
• They hold, and the position turns into a loss. The list still showed them as a winner the day you looked.

A weekly list built on paper profit is mostly a list of open positions that worked so far. It tells you who is right about the market right now, not who is good at taking money out of it.

Why does cashed-out profit matter more for copying?

Because a copier only ever earns on exits. When you copy a whale, your trade opens after theirs and closes when theirs closes. Their paper profit from before you started is not yours. Their open gains are only yours if they exit before the gains fade.

What a cashed-out record shows that paper profit does not:

• They can exit. Closing winners at good prices is a skill. Plenty of traders are great at entries and bad at exits.
• The profit survived. Every closed winner is a gain that did not evaporate.
• There is a sample. Closed trades can be counted. "62% winning exits over 40 closed trades" means something. "Up $2 million, open" is one data point.

Can cashed-out profit mislead too?

Yes, in one specific way: a trader can close winners and keep losers open. Their realized profit looks great while a large paper loss sits in the account. Traders do this all the time, because cutting a loser hurts.

That is why you read both:

• Cashed out over 7 and 30 days for what they took.
• Open positions for what they still carry, with the current result.
• Winning exits with the count for how often their closes are green.
• The biggest exit for whether one trade made the month.

On CopyHype, the whale's page lists every open trade under "Trades open now", with its size and its result now, and their closed trades under "Last results". A whale with a strong cash-out record and a giant open loser is one to watch, not to copy yet.

How do I check a Hyperliquid trader's cashed-out profit myself?

Read their fills, not the leaderboard. Every fill on Hyperliquid carries the profit it closed and the fee it paid, so you can add them up.

1. Get the address. From the leaderboard, a whale alert or a tracker.
2. Open its fills. An explorer such as Hypurrscan lists every buy and sell. Hyperliquid's public API returns them too, with a closed PnL and a fee on each fill.
3. Add closed PnL minus fees over the last 7 days, then over 30 days.
4. Find the biggest single exit. Subtract it. Is the trader still well up?
5. Count the closed trades and how many were green.
6. Look at what is still open, and how it is doing.

It takes 20 minutes per trader, and the numbers are stale by next week. CopyHype does part of it for you: each whale's page lists their closed trades of the last 30 days, with how many won and lost.

How does CopyHype rank the top traders each week?

Not once a week: CopyHype reads Hyperliquid's leaderboard about every 10 minutes and keeps three top 8 lists, by profit or ROI over 24 hours, 7 days and 30 days. The numbers are Hyperliquid's own, open trades included. What helps a copier is what sits next to each name.

• The lists: 24h, 7 days and 30 days side by side on each whale's page, so a one-day spike stands out from a steady month.
• Closed trades: each whale's page lists their closed trades of the last 30 days, so you can see how much of the profit was taken.
• Copyable: only traders who traded in the last 24 hours, without those who open and close too fast to copy or whose copies lose on average.
• Open trades: you see what the whale holds right now before you copy.

The method is in how whales are picked.

Here is why both numbers matter, with two invented traders:

A wins the weekly screenshot. B cashed out more, across many exits, and B is the trader a copier would rather follow. A's huge open long would also make its copies swing on one position.

What does the CopyHype board show for each whale?

Hyperliquid's profit and ROI over three windows, then the trades behind them. A Perps whale page reads like this, with example numbers:

• 24h +$8.2K · 7 days +$41K · 30 days +$152K, each with its ROI, open trades included
• 👥 Copiers, 14 days: 12 copies · 8 won · +3.1% avg each
• Trades open now: BTC ▲ Long x5, with what it is up now and what was closed so far
• Last results, 30 days: 🐋 Their closed trades: 40 · 25 won · 15 lost, then each closed trade with how long it was held

Read the profit with the two lists under it: a big profit with few closed trades behind it is mostly paper profit. When a whale has closed nothing, the page says "No trade fully closed in the last 30 days. They are still holding the trades above." The docs list every line.

On Home, a line like 🐳 BigWhale just cashed out $12.4K shows a top whale's latest profitable exit, and the web app on a computer has a 💰 Just cashed out panel. It is the closest thing to "top traders this week" that only counts money actually taken.

How should I use a weekly top list, then?

As a list of names to check, never as a list of names to copy. Take the weekly leaders and run them through the cash-out questions:

1. How much of this week's profit is closed?
2. Is the 30-day cashed-out profit positive too?
3. Without the biggest exit, are they still up?
4. Do they hold long enough for a copy to keep up?
5. What are they carrying right now?

If you would rather skip the homework, open >@copyhypefamilybot, tap Open the app and go to Whales, on ⚡ Perps. Copy one in Practice and watch their exits for a few days before any real money.

For the full method, see how whales are picked. For the other checks, see how to find the best Hyperliquid traders to copy.

Frequently asked questions

Does the Hyperliquid leaderboard show realized or unrealized PnL?

Its PnL and account value move with open positions at the current price, so they include unrealized gains and losses. To see what a trader actually closed, read their fills, or use a tool that adds up closed profit for you.

Who are the top Hyperliquid traders this week?

It changes all the time, which is why we do not list names here. CopyHype reads the leaderboard again about every 10 minutes. Open the app to see the current lists.

Is realized profit always better than unrealized profit?

For judging a trader to copy, it is the safer signal, because it cannot vanish. But a trader can flatter realized profit by closing winners and holding losers, so always check their open positions too.

Does CopyHype rank by profit or by ROI?

Both: pick Profit $ or ROI % under Rank by. Profit is Hyperliquid's leaderboard profit for that window, and ROI is Hyperliquid's ROI for that window, so anyone can check them. Profit rewards size, so check the ROI and the closed trades before you copy: making $5,000 on a $50,000 account is better trading than making $50,000 on $5 million.

Does cashed-out profit include fees?

It should. When you add up a trader's closed trades from their fills, subtract the trading fees on each one.