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The advertised rate has been moving
Over 14 daily readings it has ranged from 298.31% to 1,698.31%, averaging 558.52%. The tile below shows today’s quote alone.
14 readings is 14 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.
PEPE RETEST
B#29 of 249Taking money
—
TVL
$3.8k
Return
118.3%
over its watched history, read on 90 of 437 days, thin enough that the figure is an estimate between readings
The venue advertises
353.2%
a year, on their own figures
Recent
34.7% · 152.9%
30d · 90d · 126.5% over a year
Market move behind it
2.0%
78.5% fall at 40.0×
Return per book-turn
0.149%
turns 1.2× a day
Max drawdown
78.5%
a floor, read on 90 of 437 days
Sortino
2.55
return per unit of downside risk
Volatility
302%
138% of it downside
History
1.2y
222 readings, all taken at the time
Record begins
2026-09-21
began 2025-07-17, so 431 days of it are before anything here
Record rests on
Grade B
The whole record is grade B.
Confidence
100%
in these metrics
Value and drawdown
This chart shows the last 30 days of a 438 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
- 353%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
0x524e171d…38cf
NetworkHyperliquid
Platform
Hyperliquid
Operator0xf441…80d50xf441be90…80d5
Deposit assetUSDC
Created on-chain
Analyst tier
Detail is hidden, not absentHow well it executes
Built from 41 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 41 fills over 32 daysTiming indicates discretionary management, confidence 45%.
- · No strong automation signature in the timing.
Overnight activity 10%
Hour-of-day evenness 43%
Cadence regularity 1%
Clock alignment 0%
Fills per day 1.3
Instruments 1
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
BTC falls 8.2% to 78,515.93, from 85,520.6 now.
Leverage 40.0× weighted by size, a liquidation starts at the second number, not the first.
The closest liquidation is 8.2% away at the venue's own reported price. Weighted leverage is 40.0×.
Nearest liquidation
BTC falls 8.2% to 78,515.93, from 85,520.6 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 2026-09-23 11:37 UTC.
Current exposure
1 positions · $104.9k gross · 27.3x the vault's capital| Instrument | Side | Notional | Share | Entry | Unrealised |
|---|
Who is in it
Money in and out
Ledger read 12 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: 2 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 never been walked for this vault
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.
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.