Select a Hyperliquid main perpetual or HIP-3 market to rank open positions by absolute dollar notional within a rolling pool of up to 5,000 monitored public addresses. The 500 oldest observations refresh each hour, so a full pool rotation is about 10 hours. Each row retains the public address, direction, size, entry price, unrealized PnL, reported leverage, and liquidation price when available. “Top” means top in this monitored pool—not every protocol account.
What “top holder” means here
The ranking sorts current positions by absolute positionValue after a trading pair is selected. It is a position leaderboard, not a token ownership table: perpetual positions are contracts, and a short position is as important to the ranking as a long position of the same notional size.
Main perpetuals and HIP-3 use the same rolling monitored-address pool. The tool repeats that denominator and the oldest-to-newest data window beside the table so a screenshot or quotation is less likely to be mistaken for a protocol-wide, simultaneous result.
How to inspect one market
Choose a pair, then separate long and short holders or set a minimum notional. Each result keeps fields that answer different questions:
- Position notional measures current dollar exposure and defines rank.
- Size and entry price describe the contract position, not cash invested.
- Unrealized PnL is current and can reverse with the mark price.
- Leverage is the position’s reported leverage setting when present.
- Liquidation price is the API-reported value when available; a missing value is shown as missing rather than estimated.
The address link opens the base wallet analyzer. HIP-3 exposure can live in a separate DEX namespace, so the linked base-account page should not be read as a complete cross-DEX net-worth view.
Why a complete pair leaderboard is not a single API call
The official clearinghouseState request takes a user address and an optional DEX name. To discover holders for one pair, an indexer must first define an address universe, query each address across relevant namespaces, distinguish zero positions from failed requests, deduplicate results, and store timestamped current positions. New addresses outside that universe remain invisible.
This page uses a persistent leaderboard-derived pool and health-checked scheduled scans. Five hundred oldest observations are selected each hour; failed addresses keep their last good values and are retried before fresher accounts. That improves coverage without pretending the rows were all observed at exactly the same second.
Interpretation limits
A large position can be directional, hedged, market-making inventory, or one leg of a cross-venue strategy. One address can be controlled by multiple people, and one person can control multiple addresses. Historical profitability used to construct a cohort also creates survivorship bias. The table is useful for transparent exposure research, not identity attribution, copy trading, or evidence that a position will be profitable.