Hyperfolio vs PhantomLiquid (2026): Best Hyperliquid PnL Dashboard

Choosing between PhantomLiquid and Hyperfolio in 2026? The short answer is that both give you accurate Hyperliquid PnL from on-chain fills, but they serve different workflows. PhantomLiquid is a free, terminal-native analytics tool for perps-only traders who live in the command line and want Sharpe ratios and CSV exports. Hyperfolio is a free web app and installable PWA that shows you the real net PnL of any Hyperliquid wallet — realized and unrealized, after fees and funding, across perps, spot and staking — with push alerts, smart money radar and multi-venue support, and zero setup. Paste any Hyperliquid address into app.hyperfolio.fun and you will see your true numbers in seconds, without installing anything.

Why compare a CLI analytics tool with a web tracker?

The Hyperliquid analytics space grew fast in 2026. After years of explorers that showed raw balances and terminals that showed orders, a new generation of tools promised what traders actually asked for on forums and Reddit: the real number. Not the PnL the position tab shows before fees, not the equity delta polluted by deposits and withdrawals — but an accounting-grade reconstruction of what your trading actually earned, net of trading fees, funding payments and liquidations.

Two tools that answer that question are PhantomLiquid and Hyperfolio. They share the same raw material — Hyperliquid's public on-chain data — but they made opposite bets on how you should consume it. PhantomLiquid bet on the terminal: a local command-line tool with shareable dashboards. Hyperfolio bet on the browser: a free, installable app that works on any device and never asks for a key or a sign-up. If you are evaluating either one, this comparison shows you exactly what each delivers, where each wins, and which one fits the way you actually trade.

What is PhantomLiquid?

PhantomLiquid (phantomliquid.sh) describes itself as a Hyperliquid perpetual futures PnL dashboard launched in 2026 and built on fill and funding data. Its product page, checked in September 2026, is built around a local CLI: commands such as phantomliquid lookup <wallet>, phantomliquid trades --closed, phantomliquid equity --chart and phantomliquid stats --full give the impression of a developer-grade tool with a strong opinion on accuracy.

Its headline features, as published:

• Wallet lookup for any Hyperliquid address, with indexed closed positions, open positions and full trade history.
• Closed PnL table reconstructed from fills, using average entry price, trading fees and funding payments to compute realized PnL.
• Equity curve where every data point derives from realized PnL, funding and fees — no estimates.
• Performance metrics: win rate, profit factor, average win/loss, max drawdown, Sharpe ratio, total volume and fees paid.
• Public dashboards: every wallet dashboard is shareable by link with no login required.
• CSV export of the full closed-trade history: asset, side, entry, exit, PnL, ROI, duration.

No pricing page is published, so as of September 2026 PhantomLiquid reads as a free tool. It is perps-focused by design: the homepage targets "Hyperliquid perpetual futures traders", and there is no mention of spot, staking, alerts or other venues in its published scope.

What is Hyperfolio?

Hyperfolio is a free, read-only portfolio and PnL tracker built for Hyperliquid that you use entirely in the browser or as an installable PWA. You never create an account, never connect exchange APIs and never sign a transaction: you paste any Hyperliquid master address and the app reconstructs its trading life from public data.

What Hyperfolio shows for any wallet, in real time:

• Real net PnL: realized and unrealized PnL after fees and funding, with a full-range equity curve, performance stat cards, directional bias and a per-market breakdown.
• Everything you hold: perps, spot positions and HYPE staking in one portfolio, with a privacy mode that hides USD values if you want it.
• Multi-venue aggregation: Hyperliquid, AsterDEX, Lighter and Robinhood Chain balances and perps unified in a single equity view.
• Smart Money Radar: see when top Hyperliquid traders open positions, filtered by size ($10K/$25K/$50K+), asset type and RWAs.
• Push and copy-trading alerts: entry and exit alerts for wallets you follow, with push notifications that work even when the app is closed.
• Wallet tracking: follow unlimited wallets, compare performance and browse the Top 100 traders by 30-day PnL.
• Markets, Pulse and a Perp Calculator: live movers, WebSocket candles, HIP-4 prediction markets and a leverage simulator, all inside the same app.

Hyperfolio is free with no paid tier, available in English, Spanish and Chinese, and independent from Hyperliquid (it funds itself through an optional 4% fee-discount referral). A demo mode lets you explore everything before entering an address.

Hyperfolio vs PhantomLiquid: the comparison table

Data checked on September 9, 2026, from the public product pages of both tools.

Feature	PhantomLiquid	Hyperfolio
Primary focus	Perps PnL analytics for Hyperliquid	PnL and portfolio tracker for Hyperliquid and its ecosystem
How you use it	Local CLI tool (terminal commands)	Web app and installable PWA
Price	Free (no pricing published)	Free, no paid tier
Registration and keys	None; public dashboards, no login	None; paste any address, demo mode available
Setup required	Yes — local installation	No — works in any browser
Realized PnL net of fees and funding	Yes — closed trades rebuilt from fills	Yes — realized and unrealized, full history
Live open positions	Yes	Yes, with real-time updates
Equity curve	Yes — cumulative, from fills	Yes — full range, all history
Markets covered	Perps only	Perps, spot, HYPE staking, HIP-4 predictions
Multi-venue aggregation	No	Yes — AsterDEX, Lighter, Robinhood Chain
Push and copy-trading alerts	Not offered	Yes — works with the app closed
Smart money and whale tracking	Per-wallet lookup	Radar, Top 100 by 30-day PnL, unlimited watchlist
Advanced risk metrics	Sharpe, max drawdown, profit factor	Stat cards, directional bias, per-market PnL
CSV export of closed trades	Yes	Not a focus — shareable cards instead
Languages	English	English, Spanish, Chinese

Takeaway: the two tools agree on the hard part — realized PnL must be reconstructed from fills with fees and funding, not read from a balance sheet. They disagree on everything else: terminal vs browser, perps-only vs full portfolio, static report vs live alerts.

PnL accuracy: two serious engines

Accuracy is where this category is won or lost, and neither tool cuts corners. PhantomLiquid reconstructs closed trades from fills using average entry price, fees and funding, and its equity curve is explicitly derived from those components. Hyperfolio does the same reconstruction for the full history of any wallet and then splits the result the way traders need it: realized vs unrealized, per market, per venue, with fees and funding itemized.

The practical difference is in time horizon and visibility. PhantomLiquid gives you a precise picture of what is already closed. Hyperfolio gives you that plus what is still open right now, updated in real time, so the dashboard you check at 9am is not the dashboard you close at midnight. If your PnL question is "what did last month's closed trades earn me?", both answer correctly. If it is "what is my net position doing this minute, and what would happen to my equity if this funding rate stays negative?", Hyperfolio is the one designed for that.

For tax season, both philosophies work: a clean CSV of closed trades (PhantomLiquid) feeds a spreadsheet or tax tool directly, and a full realized-PnL history per wallet (Hyperfolio) gives you the same raw numbers on screen for any address you are reporting on — including wallets that are not yours, which matters if you manage several.

Where PhantomLiquid wins

Being fair matters in a comparison like this, and PhantomLiquid genuinely wins in four places:

• Deeper risk statistics. Sharpe ratio, profit factor and max drawdown are not cosmetic extras — they are the vocabulary of serious perps traders, and Hyperfolio does not publish equivalents with the same depth.
• Scriptable by design. A local CLI can be piped into your own analysis, scheduled in cron jobs and combined with other data sources. If you treat your trading like an engineering problem, that is a real advantage.
• Clean CSV exports. The closed-trade export (asset, side, entry, exit, PnL, ROI, duration) is exactly the format tax software and spreadsheets want.
• Privacy of a local tool. Everything runs from your machine; no account, no cloud state to trust.

If you are a terminal-literate, perps-only trader who wants Sharpe ratios and CSV pipelines and does not need alerts or a mobile view, PhantomLiquid is a legitimate choice — and free.

Where Hyperfolio wins for most traders

For the other 95% of Hyperliquid users, the browser bet pays off in ways that matter daily:

• Zero setup. Open the app, paste an address, see full-history PnL. No installation, no commands, no learning curve. The demo mode shows everything before you even add a wallet.
• Real-time by default. Equity, open positions and PnL update live; you are not running a command and waiting for a local index.
• Alerts that find you. Push notifications for wallets you follow — entries, exits, leverage changes — even when the PWA is closed. PhantomLiquid does not publish any alerting capability.
• Full portfolio, not just perps. Spot positions, HYPE staking rewards and HIP-4 prediction markets live next to your perps. With PhantomLiquid, everything outside perps is invisible.
• Multi-venue reality. If you also trade on AsterDEX, Lighter or Robinhood Chain, Hyperfolio aggregates them into one equity view; PhantomLiquid is Hyperliquid-only by design.
• Smart money workflows. Top 100 by 30-day PnL, radar filters and unlimited watchlists turn "check a wallet" into "follow the market's best wallets".
• On your phone. The PWA installs on a home screen with native-style push; PhantomLiquid lives on the machine where you installed it.

Try both in under a minute

Because both tools are free, the fastest way to decide is to run the same wallet through each. With PhantomLiquid, install the CLI and run phantomliquid lookup 0x... (or trades --closed for the realized table). With Hyperfolio, open app.hyperfolio.fun and paste the same address — you will get the equity curve, realized and unrealized PnL, fees, funding and the per-market breakdown instantly, no install and no sign-up. Try it with a top trader's address if you want to see what the smart-money view looks like before using your own wallet.

FAQ

Is PhantomLiquid free?

Yes — as of September 2026 its product page publishes no pricing, and the listed features (wallet lookup, dashboards, CSV export) appear to be free. Hyperfolio is also free with no paid tier.

Does PhantomLiquid track spot, staking or other venues?

No. It is positioned as a Hyperliquid perpetual futures analytics tool. Hyperfolio covers perps plus spot, HYPE staking, HIP-4 prediction markets and additional venues (AsterDEX, Lighter, Robinhood Chain) in one dashboard.

Which tool gives the more accurate Hyperliquid PnL?

Both reconstruct PnL from on-chain fills including fees and funding, so realized-PnL accuracy is comparable. Hyperfolio adds unrealized PnL on live positions, full-history equity and per-wallet/per-market breakdowns, updated in real time.

Can I follow other wallets or whales with PhantomLiquid?

You can look up any wallet and share its dashboard, but there is no radar, ranking or alerting for following traders. Hyperfolio offers a Smart Money Radar, a Top 100 by 30-day PnL and push alerts on wallets you follow.

Do I need to connect a wallet or share keys with Hyperfolio?

Never. Hyperfolio is read-only: it uses public Hyperliquid data, requires no private keys, no API keys and no registration. PhantomLiquid is equally keyless.

The bottom line

PhantomLiquid is a serious, honest PnL engine for perps traders who want terminal-grade stats and CSV exports. Hyperfolio is the same rigor applied to your entire Hyperliquid life — perps, spot, staking and multiple venues — delivered as a free real-time app with alerts, smart money tools and no setup at all. If you only trade perps from a terminal and live in spreadsheets, PhantomLiquid deserves a look. If you want to actually know your numbers — and keep knowing them in real time, from any device — start with your own wallet on Hyperfolio: paste any address into app.hyperfolio.fun, free, no registration, and see your real PnL in seconds.

Related reading: understand exactly how fees and funding change your result in our guide to real Hyperliquid PnL after fees and funding, or see how Hyperfolio compares with another Hyperliquid tracker in Hyperfolio vs HyperTracker.