Hyperliquid vaults explained
A vault is a shared trading account. One leader trades it; depositors share the profit or loss and pay the leader 10% of their profits. Of 9,477 vaults on Hyperliquid, 3,085 were open to deposits and only 74 held at least $100,000 (snapshot Oct 15, 2026).
How a vault works
- Leader: anyone can create a vault with a name, description and at least 100 USDC; the docs list a 10,000 USDC gas fee to create one. The leader must keep at least 5% of the vault at all times (Hyperliquid docs: vault leaders ↗).
- Depositors: you deposit USDC and own a share of the vault. Hyperliquid’s own example: deposit 100 USDC into a 900 USDC vault and you own 10%. If the vault doubles to 2,000 USDC, you can withdraw 200 USDC minus 10 USDC (10% of your profit) for the leader = 190 USDC (Hyperliquid docs: depositors ↗).
- Lock-up: 1 day for user vaults, 4 days for HLP.
- What vaults can trade: legacy vaults trade Hyperliquid perpetuals only, not spot. Newer HyperEVM vaults can be built with their own rules.
- Withdrawals can force the vault to trade: if there isn’t spare margin, open orders are cancelled and positions are closed in 20% steps until your withdrawal can be paid.
What the biggest vaults actually returned
From our snapshot of Hyperliquid’s public vault data on Oct 15, 2026, covering the 74 open vaults with at least $100,000 deposited:
- 42 of 74 were up over the previous 30 days; 32 were flat or down.
- 22 of 74 were down since they started.
- The median vault held $363,493 and showed a Hyperliquid-reported annualised return of 9.5%. Annualised figures swing a lot; one good month can make a vault look spectacular.
See every vault, updated daily: Hyperliquid vault leaderboard. For vaults that describe themselves as bots or algorithms (60 tracked), see proven returns.
Checklist before you deposit
- How long has it run, and through how many bad weeks? A vault created last month has no track record.
- How big is its worst drawdown? Hyperliquid shows max drawdown on each vault page.
- How much of the vault is the leader’s own money? More than the 5% minimum is a better sign.
- Who is the leader? Telegram links in descriptions are common; a stranger DMing you a vault link is a red flag (7 red flags).
- Check any linked website or Telegram handle: website checker · Telegram checker.
Frequently asked questions
What is a Hyperliquid vault?
A pool of USDC that one trader (the vault leader) trades on Hyperliquid on behalf of everyone who deposits. Depositors share the profits and losses in proportion to their share of the vault.
What fees do Hyperliquid vaults charge?
For user-created vaults, Hyperliquid’s docs say the leader takes a 10% share of depositors’ profits. Creating a vault requires the leader to deposit at least 100 USDC, and the docs list a 10,000 USDC gas fee to create one. Hyperliquid’s docs mention no separate fee for depositing, but trading costs and slippage on withdrawal still apply.
Can I withdraw from a Hyperliquid vault at any time?
After a lock-up: 1 day for user vaults and 4 days for HLP, according to Hyperliquid’s docs. When you withdraw, the vault may cancel orders or close part of its positions to free up margin.
Do vault leaders have to invest their own money?
Yes. Hyperliquid requires leaders to keep at least 5% of their vault and blocks withdrawals that would take them below that.
Are Hyperliquid vaults safe?
They are trading accounts, so you can lose money. In our Oct 15, 2026 snapshot, 22 of the 74 largest open vaults were down since inception. Check a vault’s history, drawdown and how long it has run before depositing. Not investment advice.
What is HLP?
Hyperliquidity Provider, the protocol’s own community vault. It does market making and liquidations, and has a 4-day lock-up.
Sources: Hyperliquid docs (depositors) ↗, Hyperliquid docs (leaders) ↗, Hyperliquid vault data ↗. Snapshot Oct 15, 2026. Not investment advice; BotOrNot has no affiliation with Hyperliquid or any vault.