The monitor aggregates open positions from a rolling pool of up to 5,000 public addresses. Every hour, the scanner selects the 500 addresses with the oldest successful observation and checks main perpetuals plus configured HIP-3 namespaces, giving an estimated full rotation of about 10 hours. It reports long notional, short notional, address counts, net direction, and cohort unrealized PnL by market. The ranking is not protocol-wide open interest or a complete whale list, and its rows are not one simultaneous market snapshot.
What this tool answers
The page answers a narrow question: among the addresses we actually monitor, which main perpetual and HIP-3 markets carry the largest current long and short exposure? It preserves four different measurements instead of collapsing them into one score:
- Gross notional is long notional plus short notional.
- Net notional is long notional minus short notional.
- Address count shows how many monitored wallets hold each direction.
- Cohort unrealized PnL sums the current position-level values returned in the snapshot.
The separation matters. Ten small short addresses should not automatically outweigh one materially larger long position. In the reference research, money-weighted and address-count signals often pointed in different directions, so the table shows both rather than hiding the disagreement.
How the monitored address pool is selected
The pool combines public leaderboard addresses with the previously tagged smart-equity and lower-turnover swing cohorts. Those tags remain visible for research context, but main perpetuals and HIP-3 now use the same broader address denominator. Public leaderboard account value determines which additional addresses fill the pool.
The scheduled scanner selects the 500 least recently refreshed addresses each hour. One successful address refresh checks main perpetuals and the configured HIP-3 DEX namespaces. A successful empty response clears an address’s old positions; a failed request preserves its last good result and leaves the address near the front of the next refresh queue.
These are research rules, not neutral sampling. They overrepresent historically successful and active accounts and can miss a new, private, low-history, or recently funded large trader.
How net direction is classified
The tool computes imbalance = (long notional − short notional) ÷ gross notional. A market is net long above +15%, net short below −15%, and mixed inside that band. The threshold prevents a small dollar difference from being shown as a decisive directional signal.
This classification describes exposure at each address’s displayed observation time. It does not reveal whether positions hedge spot inventory, options, another venue, or another address. It also does not prove that a wallet is informed.
Coverage boundary
Hyperliquid’s public account query begins with a user address. It does not return one complete endpoint containing every holder for a market. This tool therefore publishes the monitored pool size, latest scan health, and oldest-to-newest observation window instead of relabeling the result as “all whales.”
Use the market links to inspect the ranked addresses behind any row. Use the CSV export for independent calculations, and keep the data window with any quotation so the number does not lose its rolling time boundary.