Hyperfolio vs Velo Data (2026): Personal PnL Tracker vs Market Analytics Terminal

Quick answer: Velo Data (velo.xyz) is a market-wide derivatives analytics terminal that aggregates funding rates, open interest, liquidations, options flow and news across dozens of venues. Hyperfolio is the opposite kind of tool: a free, read-only personal tracker that answers the question Velo never does — how much did I actually make on Hyperliquid — with real PnL net of fees and funding, a smart money wallet radar, push alerts and multi-venue portfolios. Use Velo to understand the market; use Hyperfolio to understand your wallet. You can check any Hyperliquid address on Hyperfolio without connecting anything or signing up.

If you trade perps on Hyperliquid, you probably already know the feeling. You open your analytics dashboard, watch funding rates flip, check open interest spikes, and feel on top of the market. Then review day comes — or tax season, or a brutal drawdown — and you realize you don't actually know your real numbers. The exchange shows you a PnL figure. But that figure ignores the fees you paid on every entry and exit, and the funding you bled while holding overnight. Your real PnL is lower. Sometimes much lower.

That gap between gross PnL and real PnL is exactly where Velo Data and Hyperfolio split. Velo tells you what the market is doing. Hyperfolio tells you what your wallet is doing — down to the dollar, net of every cost. Both are useful. They just answer different questions, and this comparison shows you which one you actually need depending on the job.

What Is Velo Data?

Velo started as Velo Data, a crypto market intelligence platform, and has since rebranded to velo.xyz with the tagline "Data, News & Trading in One Interface." It aggregates real-time derivatives data — funding rates, open interest, volume, liquidations and options metrics — from major exchanges into a single dashboard built on TradingView's charting library. In 2025–2026 it expanded beyond analytics: you can now trade directly through the app, with Hyperliquid as a core venue, going from data to execution without leaving the platform.

Key facts verified from Velo's own site and ecosystem listings (August 2026):

• Market-wide focus: funding, OI, liquidations and options data aggregated across many venues, with institutional-grade positioning for traders, quants and analysts.
• Scale: velo.xyz displays 3,465 unique products and 1,931 tradeable markets, with billions of minutes of historical data indexed.
• Charting and news: TradingView-powered charts for fast coin/timeframe switching plus a news feed.
• Freemium model: core data is accessible without an account, with premium subscription tiers for advanced features (pricing is shown in-app).
• Derivatives depth: options flow, volatility surfaces and term structure analysis are a core differentiator — it's built with options traders and institutional desks in mind.

Velo is genuinely excellent at what it does: macro market structure. But notice what's missing from that list — anything about your PnL, your wallet, or your performance net of costs.

What Is Hyperfolio?

Hyperfolio is a free, independent portfolio tracker and wallet tracker built specifically for Hyperliquid. It is 100% read-only: you connect a public master wallet address (no private keys, ever) or simply search any address without registering. In seconds you get a full picture of that wallet's trading life:

• Equity curve and PnL history: realized and unrealized PnL with your complete historical equity curve.
• Real PnL, net of fees and funding: the number that actually matters, broken down by wallet and venue.
• Smart Money radar: track wallets with $10K, $25K or $50K+ PnL, plus a Top 100 by 30-day PnL.
• Markets with technical signals and a built-in perp PnL calculator.
• Push alerts that fire even with the app closed.
• Multi-venue tracking: Hyperliquid + AsterDEX + Lighter + Robinhood Chain in one portfolio.
• Mobile-first PWA with optional AES-256-GCM encrypted email notifications.

No account. No paid tiers. No keys. Just data about the wallets you care about.

Hyperfolio vs Velo Data: Head-to-Head

Capability	Velo Data (velo.xyz)	Hyperfolio
Primary job	Market-wide derivatives analytics	Personal Hyperliquid PnL & wallet tracking
Personal PnL per wallet (realized/unrealized)	No	Yes, full history
Real PnL net of fees & funding	No	Yes, by wallet and venue
Search any wallet by address, no signup	No (terminal data, not per-wallet PnL)	Yes, free
Funding rates, OI, liquidations (market-wide)	Yes, deep multi-venue	Limited (Markets section)
Options flow & volatility surfaces	Yes	No
TradingView charts & news feed	Yes	No
Live trading execution	Yes (Hyperliquid venue)	No (read-only by design)
Smart money wallet radar	No	Yes ($10K/$25K/$50K+)
Push alerts with app closed	No	Yes
Multi-venue portfolio (AsterDEX, Lighter, Robinhood Chain)	No	Yes
Perp PnL calculator	No	Yes
Pricing	Freemium + premium subscription	Free, no account
Mobile experience	Web app	PWA, mobile-first

Where Hyperfolio Wins: The Real PnL Problem

The single biggest reason perp traders switch from analytics terminals to a tracker like Hyperfolio is the real PnL problem. Here is a concrete example with Hyperliquid's base fee schedule (0.015% maker / 0.045% taker):

• Position: $50,000 BTC-PERP, opened and closed as taker.
• Fees: 0.045% on entry + 0.045% on exit = $45.
• Funding: held 24 hours at an average 0.01% per hour = 0.24% = $120.
• Total hidden costs: $165 ≈ 0.33% of notional — before you've made a single dollar of profit.

Your exchange UI shows gross PnL. Velo shows you the funding rate of the whole market. Only a personal tracker shows you the net number — what actually landed in your account. That's the number that decides whether you're profitable, whether you pay taxes on gains, and whether your strategy is worth repeating.

Takeaway: market analytics tell you where the opportunity is; a PnL tracker tells you whether you captured it. For most Hyperliquid traders, the second question is the one that hurts.

Hyperfolio also wins on the wallet side. Want to check what a top trader's real PnL looks like after fees, or review your own sub-accounts? Paste any address and the full breakdown appears — see your real PnL free right now, without connecting a wallet or creating an account.

Where Velo Data Still Shines

Fairness matters, so let's be clear about what Velo does better. If your edge depends on market structure — funding rate divergences across venues, open interest build-ups, liquidation cascades, options skew, volatility surfaces — Velo is a genuinely strong tool, and it keeps getting better now that it includes execution. Its charting, news feed and multi-venue data depth go far beyond what Hyperfolio offers, because Hyperfolio deliberately focuses on one chain and one question: your PnL.

So the honest framing is: Velo Data is a market terminal. Hyperfolio is a personal tracker. If you trade options or run an institutional desk, Velo is the right purchase. If you trade perps on Hyperliquid and want to know your real results — and copy what smart wallets actually do — Hyperfolio is the tool you'll open every day.

Which One Should You Use?

The short answer: both, for different jobs — and if you only pick one, pick based on your actual bottleneck.

• You're losing money and don't know why → you need real PnL data first, not more market data. Start with Hyperfolio.
• You're profitable but want to find the next setup → market analytics adds signal. Keep Velo.
• You follow whales and smart money → Hyperfolio's Smart Money radar and Top 100 by 30-day PnL show you wallets with proven results, not just big balances — learn how to use it in our whale tracking guide.
• You trade across AsterDEX, Lighter or Robinhood Chain too → Hyperfolio is one of the few trackers that aggregates venues into a single portfolio, as explained in our multi-venue portfolio guide.

Takeaway: stop guessing your results. Ten minutes with a real PnL breakdown will change how you size your next trade.

Frequently Asked Questions

Is Velo Data a Hyperliquid PnL tracker?

No. Velo Data is a market analytics terminal: funding rates, open interest, liquidations, options and news across many venues. It does not track your personal PnL or break down fees and funding per wallet. That's exactly what Hyperfolio does, free, for any Hyperliquid address.

Does Hyperfolio track wallets without connecting mine?

Yes. Hyperfolio is read-only: search any public Hyperliquid address and see its equity curve, realized and unrealized PnL, and real PnL net of fees and funding — no wallet connection and no registration required.

Does Velo Data have a free plan?

Yes, core market data is accessible without an account, with premium subscription tiers for advanced features. Hyperfolio is free in full: no paid tiers, no account, no keys.

Can I use Hyperfolio and Velo Data together?

Absolutely, and many traders do. Velo for market structure and funding divergence; Hyperfolio for personal accountability, smart money wallets and alerts. They solve different problems and complement each other well.

How does Hyperfolio calculate real PnL?

Hyperfolio starts from Hyperliquid's on-chain trade history and subtracts the fees and funding each position actually paid, so the number you see reflects your true net result. You can see the same breakdown applied to any wallet, including whales, in our guide on real PnL after fees and funding.

Final Word

Velo Data and Hyperfolio are not rivals — they're complements that serve different questions. If you want to read the market, Velo is excellent. If you want to know the truth about your own trading, nothing beats a real, net-of-cost PnL breakdown, and Hyperfolio gives you that for free, for any wallet, in seconds.

Try it now: go to app.hyperfolio.fun, paste any Hyperliquid address — yours, a whale's, or a trader you're considering copying — and see the real numbers in seconds. Connect your wallet if you want the full picture, or don't: searching any address is free and requires no registration. Your PnL is waiting. Find out what it actually is.