Hyperfolio vs Dexly: PnL Tracker vs Terminal

The short answer

Dexly is a non-custodial trading terminal for Hyperliquid — you connect your wallet and execute perps, spot, tokenized stocks and prediction markets, with a free explorer and whale leaderboard bolted on. Hyperfolio is a pure, read-only portfolio tracker that shows what your wallet is actually earning: realized and unrealized PnL net of fees and funding, across Hyperliquid and AsterDEX, with a Smart Money radar and push alerts — free and with no sign-up. If you want to trade, Dexly is excellent. If you want to know whether you're profitable, Hyperfolio answers it directly.

Two different jobs: trading terminal vs PnL tracker

Hyperliquid is a fully public blockchain. Every fill, funding payment, deposit and liquidation is on-chain, which is why an entire ecosystem of third-party tools has grown around reading that data. But those tools split into two camps that solve very different problems.

Dexly sits in the first camp: execution. It is a wallet-first trading interface, available on web, iOS and Android, that lets you trade perpetual futures, spot, tokenized stocks and prediction markets straight from your own wallet — no deposits, no new account, powered by Hyperliquid L1. Around that core it adds a free wallet explorer, a whale leaderboard, price alerts, portfolio tracking and copy trading. The second camp is PnL and portfolio tracking: reconstructing a wallet's realized and unrealized profit after fees and funding, across every venue you trade. That is Hyperfolio's job.

The distinction matters because the two don't fully overlap. Dexly tells you where and how to trade. Hyperfolio tells you whether your trading is actually making money. Traders who treat a trading terminal's tracking panel as their real PnL often end up with a clean interface and no idea of their true bottom line after fees and funding.

What Dexly does well

Let's be fair: as a Hyperliquid trading interface, Dexly is genuinely strong. It's non-custodial — your keys and funds stay in your own wallet — and it compresses the full asset surface (perps, spot, tokenized US stocks, gold, indices and prediction markets) into one terminal that's open 24/7. The wallet-first flow is clean: connect the wallet you already use, choose a market and set size and leverage, review, then send.

Its explorer is also a capable free tool. Paste any Hyperliquid address and you get real-time perpetual positions, portfolio equity, unrealized PnL and equity curves pulled directly from the Hyperliquid L1, plus full trade history, funding payments, deposits, withdrawals, win rates and total fees paid. There's a whale leaderboard to discover and follow top traders, and copy trading that lets you mirror verified on-chain track records with your own risk limits. Bots are on the roadmap.

Takeaway: if your workflow is "trade Hyperliquid from my wallet, and peek at the leaderboard," Dexly is one of the better Hyperliquid-native interfaces — and its explorer is a genuinely useful free starting point.

Where Dexly falls short for PnL tracking

The gap appears the moment you stop asking "where do I trade?" and start asking "what am I earning across everything I trade?". Dexly's tracking is a side feature of a trading terminal, not a purpose-built PnL ledger. It covers Hyperliquid only, so the moment you trade on a second venue — AsterDEX, Lighter, or Robinhood Chain — your real net PnL is fragmented and you're back to adding numbers across tabs.

Second, its PnL depth is thinner where it counts. Dexly surfaces funding payments and fees paid as history rows, but it does not reconstruct a clean, per-wallet ledger of realized and unrealized PnL net of Hyperliquid's 0.045% taker / 0.015% maker fees and the hourly funding rate in the way a dedicated tracker does, and it has no multi-venue equity aggregation. For a trader whose question is "am I actually profitable after fees and funding?", that's the exact number that matters.

Third, its alerts and copy trading are built around execution: price alerts and mirroring trades. It does not offer the read-only push copy-trading alerts that fire the moment a followed wallet opens or closes a position, even when the app is closed.

What Hyperfolio does

Hyperfolio is a free, read-only portfolio and wallet tracker built natively for Hyperliquid. Paste any public wallet address — or open demo mode — and you get live equity, realized and unrealized PnL per position, open perps with leverage and side, and a clean breakdown of fees and funding per wallet. No sign-up, no API keys, no private keys, no paid tier.

Its edge is operational depth. It covers the full asset surface — perps, spot, staked HYPE and vaults — not just perpetuals. It aggregates Hyperliquid and AsterDEX (plus Lighter and Robinhood Chain) into one equity view, so your real net PnL is never fragmented across venues. It ships a Smart Money radar that detects live openings from top traders with size filters ($10K, $25K, $50K+ and RWAs), a Top 100 leaderboard by 30-day PnL, and push copy-trading alerts that fire the moment a wallet you follow opens or closes a position — even with the PWA closed. A Perp Calculator, ⌘K global search and one-tap share cards on X round it out.

Takeaway: Dexly helps you trade; Hyperfolio helps you know if you're winning. The number that decides your profitability — net PnL after fees and funding — is Hyperfolio's core product, and it's free.

Head-to-head: Hyperfolio vs Dexly

Here is the quantitative comparison, with features verified from each tool's own site as of September 2026.

Feature	Hyperfolio	Dexly
Core job	Read-only PnL & portfolio tracker	Trading terminal + explorer
Price	Free — no paid tier	Free explorer/tracker; standard Hyperliquid trading fees
Realized + unrealized PnL per position	Yes, net of fees & funding	Yes (positions, equity, PnL)
Fees & funding breakdown per wallet	Yes, dedicated ledger	Partial — funding & fees as history rows
Multi-venue portfolio	HL + AsterDEX + Lighter + Robinhood Chain	Hyperliquid only
Smart Money / whale tracking	Smart Money radar + size filters	Whale leaderboard
Alerts	Push, free (even with PWA closed)	Price alerts (in-app/mobile)
Trade execution	No (read-only)	Yes — perps, spot, stocks, prediction markets
Copy trading	Follow + alerts only (no auto-execute)	Yes — mirror traders with risk limits
Mobile app	PWA	Native iOS + Android
Sign-up	None (paste any wallet / demo)	None for explorer; connect wallet to trade

Takeaway: Dexly wins on execution — it's a real trading terminal with a native mobile app and copy trading. Hyperfolio wins on the number that matters to your account: your real PnL after fees and funding, across venues, free.

How to choose (by trader profile)

• Active Hyperliquid trader who wants one clean terminal — you want to trade perps, spot and stocks from your wallet on web and mobile. Dexly is a strong fit; it's non-custodial and wallet-first.
• PnL-focused perp trader — you trade Hyperliquid (and AsterDEX) and want to see your real net PnL after fees and funding, per wallet and per venue. Use Hyperfolio — free, read-only, no sign-up.
• Discretionary copy-trader — you follow top wallets and want entry/exit alerts the second they move. Hyperfolio's Smart Money radar and push alerts are built for exactly this.
• Multi-venue trader — positions across Hyperliquid and AsterDEX. Hyperfolio folds them into one equity view; Dexly doesn't.

There's no rule against running both. The realistic setup for a serious trader is Dexly for execution and Hyperfolio for PnL — but if you only want one, and your goal is knowing whether you're profitable, Hyperfolio is the one that's free and answers the question directly. For the exact math behind net PnL, see our guide to real PnL after fees and funding.

FAQ

Is Dexly a PnL tracker?

Partially. Dexly is first a non-custodial trading terminal; its free explorer shows positions, equity, PnL, funding payments and fees paid, but only for Hyperliquid and without multi-venue aggregation.

Is Dexly free?

The explorer, whale leaderboard and portfolio tracking are free with no sign-up. Trading from your wallet uses Hyperliquid's standard fees — there's no extra Dexly subscription for the tools.

Which tool shows my real Hyperliquid PnL after fees and funding?

Hyperfolio. Paste any wallet (or use demo mode) and it shows realized and unrealized PnL per position with a per-wallet breakdown of fees and funding — free, no sign-up, no private keys.

Can I track multiple venues in one place?

On Hyperfolio, yes — it aggregates Hyperliquid, AsterDEX, Lighter and Robinhood Chain into a single equity view. Dexly's tracking is Hyperliquid-only.

Does Hyperfolio let me execute trades?

No — Hyperfolio is read-only by design, which is why it needs no wallet connection or API keys. For execution, Dexly or the official Hyperliquid app handle that side.

Track your real PnL for free today

Stop guessing whether your trades are profitable. Open Hyperfolio, paste any wallet address, and get your net PnL — fees and funding included — across venues, plus a Smart Money radar and copy-trading alerts, in seconds. Free, read-only, no registration. Want to see how the top wallets are actually performing first? Start with our ranking of the best Hyperliquid tracker in 2026.