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Martyrbit
BThe advertised rate has been moving
Over 21 daily readings it has ranged from -4.71% to -0.73%, averaging -3.37%. The tile below shows today’s quote alone.
21 readings is 21 days, not a year. We began taking them on 2026-09-19 and this window grows with the record rather than standing in for a longer one.
Taking money
—
TVL
$400.0k
Return
5.8%
31.6% of it earned above $1M, over 573 days
The venue advertises
-0.7%
the share price implies -0.1% over 24 days, from 46 readings
Recent
Value and drawdown
This chart shows the last 30 days of a 632 day record; the whole-record figures on this page are measured over all of it, and the 30, 90 and 365-day figures over their own windows, dated below. The rest is the Analyst tierRange
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
- -0.7%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
- -0.1%over 24 daysDerived from the share price we read, over the window stated. Annualisation is secondary: the window is the measurement.
- Fee basis
- Inside the share priceA 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.
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
Evidence
What a risk decision about this vault can rest on
Six questions, and what we hold for each. This is not a score and there is no letter at the end of it: the answers are different kinds of thing and compressing them into one number would hide exactly the part a reader needs. Where we have nothing, the row says so. 2 of 6 are not measured for this vault.
- What does it hold or lend into?DeclaredUSDCThe venue names a deposit asset. What the vault actually holds behind it has not been read.
- How much could leave now?Not measured—No exit reading. This is the figure that decides whether a position can be left, and we do not have it.
- Who runs it, and what else have they run?MeasuredMartyrbitA named operator with a record across every vault they run, including the ones that closed.
- What does it depend on?DeclaredHyperliquid on Hyperliquid
Passport
Identity
Vault contract
0x27d33e77…02b9
NetworkHyperliquid
Platform
Hyperliquid
OperatorMartyrbit0x97ee7d16…3b2e
Deposit assetUSDC
Where the return came from
Gross realised−$41.3k
Trading fees−$731.17
Funding paid−$132.63
Net realised−$42.2k
Unrealised−$27.1k
Total−$69.3k
That is -17.33% 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. Costs exceeded everything earned.
Computed from 397 fills over the 3d 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 63 snapshot intervals over 2.6 days. 1 of 64 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 3,614 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 3,000 fills over 51.8 daysTiming indicates model assisted management, confidence 100%.
- · 57.9 fills per day, beyond sustained manual trading.
Overnight activity 2%
Hour-of-day evenness 82%
Cadence regularity 0%
Clock alignment 11%
Fills per day 57.9
Instruments 6
Timing only. This says nothing about whether the strategy is any good, a losing bot is still a bot.
Nearest liquidation
SOL falls 74.8% to 25.4165, from 101.01 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 2026-10-10 09:43 UTC.
Current exposure
3 positions · $872.9k gross · 2.2x the vault's capital| Instrument | Side | Notional | Share | Entry | Unrealised | Leverage |
|---|---|---|---|---|---|---|
| SOL | long | $481.9k | 55% | 104.8 | -$18.1k | 2x |
How the capacity estimate was reached
- 4 of 6 instruments showed no positive edge.
- Impact is inferred from this strategy’s own realised cost, not measured against a book.
- A 10% participation ceiling is applied where venue volume is known.
- Trade size is converted to capital using the strategy’s own capital-to-trade-size ratio.
- Capacity is capped at 50× the largest trade actually observed, beyond that we are extrapolating.
- Measured edge exceeded 100bps per trade and was clipped, above that it is directional luck, not repeatable alpha.
- Capped at 50x current capital; beyond that the estimate is unfalsifiable.
- At least one instrument hit the observed-size cap, so the total is a floor rather than an estimate.
| Instrument | Edge | Taker | Median trade | Limit |
|---|---|---|---|---|
| HYPE | 215bps | 70% | $1.2k | Edge 215.0bps against 6.0bps of realised cost. |
| BTC | 4bps | 65% | $1.2k | Edge 4.0bps against 5.8bps of realised cost. |
| PONS | -190.3bps | 41% | $113.00 | No positive edge observed, capacity is not the binding constraint here. |
| ETH | -39.6bps | 42% | $3.9k | No positive edge observed, capacity is not the binding constraint here. |
Who is in it
Money in and out
Ledger read 4 hours 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: 61 days are held back because a reader has not covered them.
- 1 day: fills have been walked, but not over these days
- 1 day: one end of the day has no position snapshot
- 1 day: the funding ledger has been walked, but not over these days
The shape of the record
33 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
21%
Payoff
2.33
Profit factor
0.63
Median hold
5.6h
33 round trips, 21% of them profitable, holding a median 5.6 hours. The average win is $14.7k against an average loss of $6.3k. Most trades lose a little and a few pay for all of them, which reads badly on a hit rate and is the more durable shape.
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.