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Passivbot Canon
BlikelyThe advertised rate has been moving
Over 21 daily readings it has ranged from 28.51% to 42.60%, averaging 36.18%. 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
$18.3k
Return
40.0%
over its watched history, read on 115 of 401 days, thin enough that the figure is an estimate between readings
The venue advertises
40.9%
the share price implies 69.5% over 29 days, from 33 readings
Recent
Value and drawdown
This chart shows the last 30 days of a 401 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
- 40.9%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
- 69.5%over 29 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?MeasuredPassivbot CanonA named operator with a record across every vault they run, including the ones that closed.
- What does it depend on?Declared
Passport
Identity
Vault contract
0x490af7d4…2349
NetworkHyperliquid
Platform
Hyperliquid
OperatorPassivbot Canon0x5e62da77…b7af
Deposit assetUSDC
Where the return came from
Costs consumed 11% of gross profitGross realised$1.4k
Trading fees−$134.69
Funding paid−$15.73
Net realised$1.3k
Unrealised−$1.62
Total$1.3k
That is 6.94% 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.
Paid to trade. Earned by trading, after paying $16 of funding to hold the position.
Computed from 3,474 fills over the 34d 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 2132 snapshot intervals over 34 days. 178 of 2310 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 6,794 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 30.07 daysTiming indicates autonomous management, confidence 100%.
- · Trades continuously through every 6-hour window, including overnight.
- · Activity spread evenly across all 24 hours (evenness 0.987).
- · 99.8 fills per day, beyond sustained manual trading.
- · 37 instruments traded concurrently.
Overnight activity 80%
Hour-of-day evenness 99%
Cadence regularity 36%
Clock alignment 33%
Fills per day 99.8
Instruments 37
Timing only. This says nothing about whether the strategy is any good, a losing bot is still a bot.
Current exposure
3 positions · $242.63 gross · 0.0x the vault's capitalHow the capacity estimate was reached
- 3 of 32 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.
- 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 |
|---|---|---|---|---|
| ALGO | 45.4bps | 16% | $61.00 | Edge 45.4bps against 2.7bps of realised cost. |
| ASTER | 42.1bps | 13% | $50.00 | Edge 42.1bps against 2.5bps of realised cost. |
| ENA | 59.9bps | 28% | $55.00 | Edge 59.9bps against 4.0bps of realised cost. |
| APT | 45.2bps | 29% | $61.00 | Edge 45.2bps against 3.5bps of realised cost. |
| ARB | 49.8bps | 33% | $62.00 |
Who is in it
Money in and out
Ledger read 10 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
25 days decomposedThe 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.
| Money in and outdeposits less withdrawals, and arriving is not earning | −$3,989 |
| Closed tradesrealised on the fills the venue reports | $833 |
| Feespaid to the venue on those fills | −$98 |
| Fundingpaid or received for holding the positions, from the venue's own ledger | −$21 |
| Open positions movedchange in unrealised profit on what was still open | $272 |
| Not explainedwhat the terms above do not account for, 41.3% of the $4,925 that moved | −$2,036 |
| Change in value$25,425 to $20,540, 2026-09-09 to 2026-10-08 | −$4,885 |
Performance, which is the change less what arrived and left, is −$896 over days and fills.
The shape of the record
1,727 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
93%
Payoff
0.24
Profit factor
3.07
Median hold
1.5h
1,727 round trips, 93% of them profitable, holding a median 1.5 hours. The average win is $2 and the average loss $7, it wins far more often than it loses and loses more when it does. That is the signature of selling optionality, and it produces a clean equity curve until the day it does not.
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.