Loading
This vault advertised a rate and no longer does
It quoted 49.97% at its highest and was still quoting on 2026-09-20. It quotes nothing now. A vault that has never paid and a vault that has stopped paying both read as nothing on the tiles below, and they are not the same proposition.
From 16 daily readings of the venue’s own advertised rate, which we began taking on 2026-09-19. It says the rate moved, not why.
Anti Martigaler
BMomentum Compounding Degen
One thing worth a look
Patterns in this vault’s record that have more than one explanation. None of them lowers its grade and none of them is a finding of wrongdoing, a ledger cannot separate the readings below, and neither can we.
- The address that runs this vault holds 100% of it.
- Equally consistent with: A manager with their own money at risk, which is usually a good sign, and then the return is a personal account’s rather than a record of managing anyone else’s. It can also be a treasury or a custodian: the chain shows who holds the shares, not whose money they are.
Measured over the last 30 days, as of 2026-10-03 23:37 UTC. A pattern that stops is cleared rather than left standing.
Taking money
Open
TVL
$587.94
Return
—
over its watched history
The venue advertises
-95.4%
a year, on their own figures
Recent
Value and drawdown
Range
Hover for values. Upper: vault value, with BTC indexed to the same starting capital. Lower: how far below its own peak it was.
The rate, and the seven things that qualify it
A quoted rate is one input, not a verdict. These are the same seven fields in the same order for every vault, so a high rate and a high rate nobody can withdraw from do not look alike.
- Current quoted rate
- -95.4%As the venue states it, from Hyperliquid. Passed on rather than adopted, and whether rewards are inside it is the next row.
- Rewards inside that rate
- No reward rate is published, so we cannot say whether the quote includes one.A published rate, not a verified payment. Promotional projections and amounts actually accrued are different things and this is the first.
- Realised return
- Too little share-price history to derive one. The quote stands alone until there is.Derived from the share price we read, over the window stated. Annualisation is secondary: the window is the measurement.
- Fee basis
- We do not read this vault’s share price, so we cannot say which fees the figure is net of.A return derived from the share price is net of whatever the venue already deducted. Fees charged outside it are not in either number.
- Withdrawable now
- The venue publishes no withdrawable figure, so no amount is claimed either way.A reading of now, not a promise about the day somebody tries. An accruing rate with nothing withdrawable is the case this section exists for.
- History quality
Profit, and what the value is made of
Value held less cumulative profit is the money people put in. The venue draws the two apart; the gap is the point.Range
Profit and loss since the vault opened, as the venue reports it. It ignores deposits and withdrawals: only trading moves this line.
Value heldNet money put in
Range
Solid: what the vault holds. Dashed: what depositors put in, net of withdrawals. Where the two rise together the growth was deposits, not performance.
No strategy has been declared for this vault
Everything above is reconstructed from public data. A declaration is free, signed from this vault’s own key, and cannot be edited afterwards.Note 28
Passport
Identity
Vault contract
0xa93aaeeb…9059
NetworkHyperliquid
Platform
Hyperliquid
OperatorAnti Martigaler0x44a40187…65d7
Deposit assetUSDC
Created on-chain2026-05-08
Where the return came from
Gross realised−$5.5k
Trading fees−$369.80
Funding received$5.58
Net realised−$5.9k
Unrealised$3.5k
Total−$2.3k
That is -394.36% on the capital the strategy currently runs.
- Slippage is not separated: without a book snapshot at fill time it cannot be measured, so it remains inside gross rather than being estimated.
- Funding is differenced across position snapshots, so it is a flow over the window rather than a level: it counts what changed hands while we were watching and nothing before that. Intervals where a position closed and reopened are refused rather than guessed, which makes the figure a floor.
- Gross realised PnL is not positive, so the cost ratio is not meaningful.
Underwater over this window. Collected $6 of funding and lost more than that trading.
Computed from 261 fills over the 5d in which funding could also be measured, so every part is taken from the same days. That window opens when we started watching, not when the vault started trading. Measured by differencing 36 snapshot intervals over 5.5 days. 1 of 37 intervals were not attributable, a position closed and reopened, or a snapshot was missed, so this is a floor.
Analyst tier
Detail is hidden, not absentHow well it executes
Built from 604 individual fills. Two strategies with identical signals can differ by hundreds of basis points purely in how they get filled, taker share, fee rate, slippage. This is the part of a result that is operational competence rather than market view, and it is what tells you whether a good year was skill or a good venue.
See what unlocksAlready a customer? Sign inHow this vault behaves
from 604 fills over 49.59 daysTiming indicates discretionary management, confidence 100%.
- · No strong automation signature in the timing.
Overnight activity 2%
Hour-of-day evenness 74%
Cadence regularity 0%
Clock alignment 13%
Fills per day 12.2
Instruments 5
Timing only. This says nothing about whether the strategy is any good, a losing bot is still a bot.
Nearest liquidation, as the venue reports it
ZEC rises 11.7% to 1,686.51, from 1,510.5 now.
Leverage 10.0× weighted by size, a liquidation starts at the second number, not the first.
The closest liquidation is 12% away at the venue's own reported price. Weighted leverage is 10.0×.
Nearest liquidation
ZEC rises 11.7% to 1,686.51, from 1,510.5 now.
That is the nearest single instrument breaching this account’s maintenance requirement, so it is a ceiling on safety: a market-wide move hits every leg at once and arrives sooner. Computed from the venue’s own margin state at 2026-09-24 04:42 UTC.
Current exposure
1 positions · $57.5k gross · 97.8x the vault's capital| Instrument | Side | Notional | Share | Entry | Unrealised |
|---|
How the capacity estimate was reached
- No instrument showed a positive edge against its realised cost.
| Instrument | Edge | Taker | Median trade | Limit |
|---|---|---|---|---|
| ZEC | -61.4bps | 100% | $1.7k | No positive edge observed, capacity is not the binding constraint here. |
| NEAR | -118bps | 100% | $417.00 | No positive edge observed, capacity is not the binding constraint here. |
| BTC | -15.5bps | 100% | $906.00 | No positive edge observed, capacity is not the binding constraint here. |
| HYPE | -38.5bps | 100% | $792.00 | No positive edge observed, capacity is not the binding constraint here. |
Who is in it
Money in and out
Ledger read 14 days agoAnalyst tier
Detail is hidden, not absentWho is in this vault, and how much of it is one wallet
A vault that is eighty per cent one depositor is a vault whose price can be reset by a single withdrawal, and whose headline TVL says almost nothing about whether anyone else believes in it. Concentration is the risk a return figure never shows, and it moves before the return line does.
See what unlocksAlready a customer? Sign inWhat changed the value
nothing decomposed yetThe section above says money moved. This says what the movement WAS. A vault grows because deposits arrived, or because the trading worked, or because it was paid to hold a position, and a size figure renders all three identically.
Nothing can be decomposed for this vault yet: 3 days are held back because a reader has not covered them.
- 1 day: fills have been walked, but not over these days
- 1 day: the funding ledger has been walked, but not over these days
Funding, summed forward
Range
What the vault was paid to hold its positions, less what it paid, a day at a time. A line that falls is a book that pays to stay where it is.
The shape of the record
29 completed round tripsRebuilt from the venue’s own open and close labels on every fill. A return figure cannot say whether it came from being right often and small or rarely and large, and those are opposite businesses.
Win rate
24%
Payoff
1.03
Profit factor
0.33
Median hold
5.6h
29 round trips, 24% of them profitable, holding a median 5.6 hours. Average win $642, average loss $626.
What is still missing
- Operator cohort. We show what the venue still exposes; strategies deleted before we began observing are invisible, and only pre-registration can make a cohort provably complete.
- Gross-to-net waterfall. Returns are venue-reported and not yet decomposed into fees, funding and slippage.
- Off-chain exposure. Anything held on a centralised exchange is invisible to us, so the risk shown is a floor.