Select a Hyperliquid main perpetual or HIP-3 market to rank current open positions by absolute dollar notional within the monitored research cohort. Each row retains the public address, long or short direction, size, entry price, unrealized PnL, reported leverage, and liquidation price when available. “Top” means top among the visible sampled addresses—not every protocol account—because the official clearinghouse query requires a user address and does not provide a complete holder leaderboard for a selected pair.
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.
The denominator changes with the market set. Main perpetuals use the 55-address swing screen. HIP-3 uses the deduplicated union of the swing cohort and the S/A research pool. The tool repeats that denominator beside the table so a screenshot or quotation is less likely to be mistaken for a protocol-wide 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 a timestamped snapshot. New addresses outside that universe remain invisible.
This page is therefore explicit about what was scanned. Expanding toward broader market coverage requires a persistent leaderboard-derived universe and health-checked scheduled scans; changing the label would not solve that data problem.
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.