The Idea Came From a Frustration We Already Had

We build portfolio infrastructure for liquid crypto funds. Our day job is making sure fund managers can track their positions across Hyperliquid, Morpho, Aave, and a dozen CEXes — in real time, with clean attribution, in a format that holds up to LP scrutiny.

So when traders in our network started asking us how to properly analyse Hyperliquid wallets — their own, their competitors', wallets they'd seen shared on CT — the answer was obvious: there was no good tool for it.

DeBank doesn't handle HL perps well. Nansen's HL coverage is thin. The native Hyperliquid interface shows you your current positions but doesn't give you clean historical PnL, cost basis, or performance attribution over time. And analysing someone else's wallet — a public address that someone dropped in a Telegram group — was essentially impossible without raw API calls.

We had the infrastructure already. We decided to build the tool.

What We Actually Built

trckr.xyz is a free Hyperliquid wallet analyser. Paste any wallet address. Get a full breakdown of:

• PnL by asset and position

• Cost basis and entry price reconstruction

• Funding rate income, separated from mark-to-market returns

• Staking and vault rewards

• TWRR performance metrics — the same methodology institutional funds use

• Capital flow history: deposits, withdrawals, net invested

• NAV over time

No API keys. No wallet connection. No sign-up. The data is verified against Hyperliquid's portfolio API to within 1%.

We built the first version in 48 hours. It's been live for less than a week.

Why Most HL Wallet Tools Get the Numbers Wrong

Building a Hyperliquid tracker sounds simple. It isn't, and the reason is instructive about why most attempts at this produce numbers that don't add up.

Funding rates are not trades. Funding rate payments on perpetuals accrue continuously and settle at regular intervals. They're not position entries or exits. They're not reflected in your mark-to-market P&L in a straightforward way. A tool that calculates your perp PnL without properly separating funding income will show you a number that's either inflated (if you're on the receiving side) or understated (if you're paying). Most basic wallet analysers conflate these. Traders end up thinking they're performing better or worse than they actually are.

Cost basis reconstruction requires full transaction history. Your current position value is easy to get from the API. Your cost basis — the actual price you paid, averaged across all entries, adjusted for partial exits — requires replaying every fill in sequence. If a tool is only looking at current state, it can't tell you your actual gain or loss on a position. It can only tell you the current mark.

Vault positions aren't just token balances. If you're in an HLP vault or a Hyperliquid liquidity position, your balance is denominated in vault shares, not in the underlying. Marking this correctly requires knowing the current share price, which changes continuously as the vault accrues trading fees and funding. A tool that reads raw token balances and calls it your vault position will be wrong by a variable and often significant margin.

Performance attribution matters for understanding the strategy. A wallet that's up 40% over three months looks great. But if 35% of that came from funding income on a position that happened to be on the right side of a crowded trade, and the directional bets were mostly flat, that's a very different story than a wallet that generated 40% from skilled position management. Without separating these, you can't evaluate whether the performance is repeatable.

These are not edge cases. They're the standard conditions for any serious Hyperliquid trader. Getting them right is what took us most of the 48 hours.

The Infrastructure Behind It

trckr is built on the same data layer we use for our institutional product at Renesis. The core infrastructure — Hyperliquid API integration, transaction event parsing, PnL calculation engine, TWRR methodology — was already built and battle-tested against real fund portfolios.

The 48 hours was mostly interface design and making the output readable for a consumer rather than an institutional operator. The hard part — making the numbers correct — was done.

This is the part that took longer than expected even with the existing infrastructure: making institutional-grade calculation methodology legible to a trader who just wants to know how their wallet is performing. The gap between "technically correct" and "intuitively understandable" is larger than it looks.

What We're Adding Next

We're expanding to EVM chains over this weekend. Same methodology, applied to DeFi positions on those chains: Morpho, Aave, Uniswap LP positions, Pendle PT/YT splits.

For Hyperliquid specifically, we're adding:

• Multi-wallet comparison: view two wallets side by side

• Historical performance charts with drawdown visualisation

• Strategy classification: the tool will attempt to identify whether a wallet is running a market-making, directional, delta-neutral, or yield strategy based on position history

• Leaderboard: filter public wallets by performance metric, drawdown, or strategy type

If you're a builder in the Hyperliquid ecosystem and want to integrate wallet analytics into your product — the underlying API is the same one powering trckr, and we're open to discussing data access.

Why This Exists as a Free Tool

The honest answer: we built it to learn, and because it's genuinely useful.

Most of the people who will use trckr are traders who will never need an institutional PMS. But some of them manage or will manage meaningful capital. Some of them are at funds that are evaluating their Hyperliquid tooling. And some of them are just the kind of people who care about getting the numbers right — which is exactly the kind of person who eventually ends up needing what Renesis does at scale.

The free tool is also a statement about how we think about data: the right calculation methodology shouldn't require an institutional subscription. Traders should be able to verify their own performance correctly.

*trckr.xyz — free Hyperliquid wallet analyser, no sign-up required. Expanding to EVM chains shortly.*

Renesis builds the institutional version of this infrastructure — real-time NAV, CeFi + DeFi reconciliation, and LP-ready reporting for liquid crypto funds.