Glossary
Terms are organized alphabetically for quick reference.
APR (Annual Percentage Rate)
Section titled “APR (Annual Percentage Rate)”The annualized return rate for a vault, calculated from its recent performance. APR is forward-looking and based on a rolling window of historical data. See Performance Metrics for the calculation.
A vault’s directional trading preference. A vault may be long-biased (profits more in uptrends), short-biased (profits more in downtrends), neutral (performs in any market), or volatility-biased (profits from price swings regardless of direction). See Bias Meter.
Commission
Section titled “Commission”The fee charged by the vault leader, typically a percentage of profits. Commission structures vary by vault. See Fees & Commissions.
Depositor
Section titled “Depositor”A user who deposits capital into a vault. Depositors share in the vault’s returns proportionally to their deposit size.
DP (Depositor Performance)
Section titled “DP (Depositor Performance)”A composite grade measuring how well depositors are performing in a vault. DP accounts for deposit timing, withdrawal patterns, and fee impact. See Performance Metrics.
Drawdown
Section titled “Drawdown”The peak-to-trough decline in a vault’s value, expressed as a percentage. Drawdown measures downside risk.
Equity
Section titled “Equity”A depositor’s current capital in a vault, including original deposits plus accrued returns minus any fees.
A letter grade (A through F) that provides a quick assessment of vault performance. Grades are threshold-based and configurable in Settings. See Performance Metrics.
Lockup Period
Section titled “Lockup Period”A period during which deposited capital cannot be withdrawn. Lockup periods vary by vault and are set by the vault leader.
LP (Leader Performance)
Section titled “LP (Leader Performance)”A composite grade measuring the vault leader’s trading performance. LP focuses exclusively on the leader’s execution and results. See Performance Metrics.
PnL (Profit and Loss)
Section titled “PnL (Profit and Loss)”The net profit or loss from vault activity, expressed in USD or as a percentage. PnL can be calculated for individual deposits, a vault, or your full portfolio.
Screen
Section titled “Screen”A saved configuration of columns, filters, and sorting applied to the vault grid. Screens allow you to quickly switch between different views. See Screens & Filters.
An automatic label applied to vaults based on performance, age, or other criteria. Tags like “Top Leader” or “Rising Star” help identify vaults of interest. See Tags Reference.
TVL (Total Value Locked)
Section titled “TVL (Total Value Locked)”The total value of all capital deposited in a vault. TVL indicates a vault’s size and liquidity.
An on-chain investment pool on Hyperliquid where a leader trades on behalf of depositors. Vaults vary in strategy, risk profile, and fee structure.
Vault Leader
Section titled “Vault Leader”The trader or team managing a vault’s strategy. Leaders set the commission structure and determine the vault’s trading approach.
Volatility
Section titled “Volatility”A statistical measure of price variation in a vault’s returns. Higher volatility means greater risk and potentially greater returns.
Wallet
Section titled “Wallet”A cryptocurrency wallet (like MetaMask or Rabby) used to connect to Hyperliquid and deposit into vaults. Wallet connection enables portfolio tracking and identity across the app.