Hyperfolio vs TrendWave (2026): Free Hyperliquid PnL Tracker vs a $12.99/mo Subscription

Quick answer

TrendWave is a paid Hyperliquid analytics platform — from $12.99/month after a 7-day free trial — built around trade journaling: win rate, a color-coded monthly PnL calendar and breakeven targets for reviewing your own performance. Hyperfolio is a free, 100% read-only Hyperliquid tracker that shows real-time equity, realized and unrealized PnL with fees and funding broken down per wallet, plus Smart Money radar and push alerts — and you can look up any public address without registering. If you want to know what you actually keep after fees and funding, Hyperfolio gives you more for $0.

You open the Hyperliquid app, check your positions, and everything looks fine. Then you try to reconcile your real profit — and the number you saw on the exchange is not the number you actually keep. Fees, funding payments, liquidation cascades: the exchange shows you one figure, your wallet shows another. And when you look for a tool to fix it, you find a growing pile of paid trackers that charge a monthly subscription to show you data that is already public on-chain.

TrendWave is one of those paid tools, and it is good at one specific thing: journaling your own trades. But it costs money, it focuses on your own wallet, and it does not tell you what you actually keep after fees and funding in real time. In this comparison we put TrendWave against Hyperfolio, the free tracker that shows your real Hyperliquid PnL, with current pricing and verifiable features — so you can decide where your money is better spent.

What TrendWave is (and what it costs)

TrendWave is a Hyperliquid-native PnL tracker and analytics platform. Its own tagline says it all: "You can't improve what you don't measure." You connect your Hyperliquid wallet and the dashboard shows your PnL, win rate, fees and volume, with live stats synced from your wallet, a monthly PnL calendar with color-coded days, and daily, weekly or all-time views.

The product is genuinely focused on performance review. Its premium features include connecting multiple wallets, saving your entire trade history, unlocking full trading data on the dashboard, advanced analytics, setting a breakeven amount and full access to a trading journal.

Here is the current pricing, taken from TrendWave's own pricing page:

• Free trial: 7 days at $0.00, no credit card required — then $12.99/month.
• Monthly plan: $12.99/month billed monthly (listed at $19.99 with the promo applied).
• Yearly plan: $9.99/month billed $119.88 per year — their "best value" tier.

So a Hyperliquid trader who wants the full journaling experience pays at minimum $119.88 a year. And that is the core question of this comparison: what exactly are you paying for, and what are you still missing?

What Hyperfolio is

Hyperfolio is a free, independent portfolio tracker and wallet tracker built exclusively for Hyperliquid. There is no subscription, no paid tier and no registration: you paste a public wallet address — or use demo mode — and you see the full picture in real time.

What you get at $0:

• Real PnL, not a mirror: equity curve with full history, unrealized and realized PnL, performance stat cards and directional bias, across perps, spot and staking.
• Fees and funding broken down per wallet: the realized PnL figure is net of the trading fees and funding payments you actually paid — per position and per wallet.
• Any address, read-only: follow whales, top traders or your own bots without connecting anything. Public address only; no private keys, no API keys, no signing.
• Smart Money radar: see when top Hyperliquid traders open new positions, filtered by notional size ($10K, $25K, $50K+) and asset type.
• Push and copy-trading alerts: entry and exit alerts for the wallets you follow, with push notifications even when the PWA is closed.
• Multi-venue portfolio: Hyperliquid, AsterDEX, Lighter and Robinhood Chain aggregated in one dashboard.
• Markets, Pulse, Pump.fun, Predictions Hub, Perp Calculator and global ⌘K search — a full ecosystem tool, not just a journal.

No part of this is paywalled. The revenue model is a Hyperliquid trading referral (you get 4% off fees with code HYPERFOLIO), which means the tracker itself stays free forever.

Head-to-head: Hyperfolio vs TrendWave

Here is the quantitative comparison with current data from both products:

Feature	Hyperfolio	TrendWave
Price	Free — no paid tier	$12.99/mo (monthly) or $9.99/mo billed yearly ($119.88/yr)
Registration	None — paste any public address	Wallet connect required
Realized + unrealized PnL in real time	Yes	Yes (synced from your wallet)
Fees & funding breakdown per wallet	Yes	Fee-aware reporting (aggregate, premium)
Look up any address (whales, copy targets)	Yes, read-only	No — only connected wallets
Smart Money radar	Yes	No
Push alerts (fills, entries, exits)	Yes, free	No
Multi-venue (AsterDEX, Lighter, Robinhood Chain)	Yes	No — Hyperliquid only
Win rate & monthly PnL calendar	Basic performance stats	Dedicated calendar + win rate analytics
Trading journal & breakeven target	Not a dedicated journal	Full journal + breakeven amount
Trial	Not needed — free forever	7 days, then subscription

The pattern is clear: TrendWave is a paid journal for your own trades; Hyperfolio is a free intelligence terminal for the whole Hyperliquid ecosystem. If you only want to journal your own performance, TrendWave has value. If you want real PnL, market context and alerts, the $119.88 a year buys you nothing that Hyperfolio does not already give you.

Where TrendWave actually wins

Fairness matters in a comparison, so let's give TrendWave credit where it is due. The journaling experience is genuinely well designed. The color-coded monthly PnL calendar, the win rate tracking and the breakeven amount feature are aimed at a real problem: most traders do not know their edge because they never review their own fills. A tool that forces a weekly review habit can genuinely improve your results, and TrendWave does that better than Hyperfolio, which is not a journaling product.

If you are the kind of trader who journals every trade, writes down your thesis and reviews your monthly calendar — TrendWave is a legitimate tool, and its yearly plan at $9.99/month is a fair price for that workflow.

But notice what that $119.88 per year does not buy you: it does not show you fees and funding per position in real time, it does not let you inspect other wallets, it has no alerts, no Smart Money radar and no multi-venue view. TrendWave is a mirror of your own trading, not a window into the market. For the second use case, you still need a free tool — and that is exactly what Hyperfolio is.

The math of paying for your own data

Hyperliquid's data is public. Every fill, every fee, every funding payment of every wallet is on-chain and free to read. The reason trackers can charge for it is convenience, not data access. So the real question is: how much is that convenience worth to you?

Consider the actual cost structure of perp trading. Hyperliquid charges 0.045% taker and 0.015% maker on perps, and funding is paid every hour. For an active trader doing $100,000 of monthly volume, taker fees alone are around $45 a month — before funding. If your edge is thin, a $12.99/month subscription to a journal is a significant percentage of your net PnL. Spending that on a tracker that shows you your own data, when a free tracker shows the same data plus fees, funding, smart money and alerts, is hard to justify.

The alternative workflow takes ten seconds: open Hyperfolio and look up your wallet address without signing up. You get realized PnL net of fees and funding, your equity curve, your open perps and — if you want — the same view of any other address on Hyperliquid. No subscription, no credit card, no private keys.

How to check any Hyperliquid wallet in 10 seconds

1. Open app.hyperfolio.fun — no registration, no wallet connect needed.
2. Paste your Hyperliquid master account address (or any address you want to inspect).
3. See equity, realized and unrealized PnL, fees and funding, open perps and performance stats instantly.
4. Enable push alerts on the wallets you follow, or open Smart Money to see what top traders are doing right now.

That is the entire setup. There is nothing to install, nothing to pay and nothing to export. Compare that with the TrendWave flow: sign up, connect your wallet, start a 7-day trial, and remember to cancel before the $12.99 charge if you do not want to keep it.

FAQ

Is TrendWave free?

TrendWave offers a 7-day free trial with no credit card required. After that it costs $12.99/month billed monthly, or $9.99/month billed $119.88 per year. There is no permanent free tier with the premium features.

Does TrendWave support Hyperliquid?

Yes, TrendWave is Hyperliquid-native: you connect your Hyperliquid wallet and it tracks your PnL, fees, win rate and volume. It does not aggregate other venues.

Can I track other wallets with TrendWave?

Only wallets you connect yourself. The premium plan allows multiple wallets, but there is no read-only lookup of arbitrary addresses, so you cannot inspect whales or copy-trading targets by address.

What is the best free Hyperliquid PnL tracker?

Hyperfolio is the leading free option: read-only, no registration, real-time realized and unrealized PnL with fees and funding per wallet, Smart Money radar, push alerts and multi-venue aggregation — with no subscription or paid tier.

Does Hyperfolio need API keys or private keys?

No. Hyperfolio only uses your public wallet address in read-only mode. It never asks for private keys, seed phrases, API keys or transaction signing, and it cannot move funds.

Final verdict: pay for the journal, not for the data

TrendWave is a well-built journaling tool for traders who want to review their own performance — and for that specific job, it is worth a look. But as a PnL tracker it costs $119.88 a year to show you your own fills, with no alerts, no smart money and no multi-venue view, while Hyperfolio shows you the same data plus fees, funding, whale activity and push alerts for free.

Try Hyperfolio free right now: connect your wallet or search any Hyperliquid address without registration, and see your PnL broken down by fees and funding in real time. For related reading, see our comparison of free Hyperliquid trackers, Hyperfolio vs HyperTracker, or how to calculate Hyperliquid PnL with fees and funding. And if taxes are your real problem, Hyperfolio vs CoinTracker covers the paid tax-reporting alternative.