Hyperfolio vs Zerion (2026): The Real PnL Tracker for Hyperliquid Perps Traders

The short answer: Zerion is a great multichain EVM wallet, but it is not a Hyperliquid PnL tracker. It does not break down your perps PnL by fees and funding, its "P&L for any wallet" feature requires a paid Premium plan, and perps traded through its app add a Zerion fee on top of Hyperliquid's. Hyperfolio shows the real net PnL of any Hyperliquid wallet — per position, with fees and funding — free, read-only and without registration.

You open your wallet app and the portfolio looks great. Green numbers, a nice curve, everything in order. Then you dig one level deeper: what did you actually earn after fees, funding payments and a few liquidation scares? That question is where most wallets and portfolio apps — including Zerion — go quiet.

This comparison is for you if you trade perps on Hyperliquid, follow other traders' wallets, or are preparing for tax season and need realized PnL you can actually defend. It is not a general review of Zerion as a wallet — it is a head-to-head on the one job that matters for perp traders: turning raw trades into an honest PnL number.

Zerion is one of the most polished crypto wallets on the market and a legitimate tool for multichain portfolios. But if you trade perpetuals on Hyperliquid, comparing it with a native tracker like Hyperfolio changes the picture completely. This comparison uses real, current data: pricing, limits, perps coverage, fees and the metric that actually matters — real net PnL.

What Zerion is genuinely good at

Before the criticism, credit where it's due. Zerion is a serious product for the EVM ecosystem:

• Multichain portfolio tracking: Ethereum, L2s, Base and more, with DeFi positions across 8,000+ protocols, NFTs and token balances in one interface.
• Built-in trading: swaps and bridges inside the wallet, with gasless trading on supported chains.
• Perps execution: Zerion added perpetuals trading with up to 40x leverage, plus take-profit and stop-loss by price or PnL percentage.
• Solana coverage: recent PnL analytics for Solana traders and token-level "PnL Stats" for top traders on Base.

If your question is "how much am I worth across chains?", Zerion answers it well. But if your question is "what is my real PnL on Hyperliquid perps?", the answer is different — and that is exactly where this comparison gets interesting.

The gap: Zerion is not a Hyperliquid PnL tracker

Hyperliquid is a perp DEX, and perps have a cost structure that token portfolios don't: trading fees on every entry and exit, funding payments every 8 hours, and liquidation risk that depends on leverage. A tracker that ignores these three shows you a distorted number.

Zerion's Hyperliquid coverage has three concrete limitations for perp traders:

• Perps are execution, not analytics. Zerion lets you trade perps through its own wallet, and its help center confirms the fee stack: Hyperliquid's fee (a 0.0432% base per its docs) plus Zerion's own fee on each position, plus Hyperliquid's $1 withdrawal fee. It is a broker-style flow, not an independent tracking layer.
• P&L for third-party wallets is behind Premium. "Track P&L for any wallet" and CSV export are Premium features at roughly $99/year — and that P&L is token-centric, not a perps breakdown with fees and funding.
• No native perps analytics. No Smart Money radar over Hyperliquid, no per-position realized PnL net of funding, no liquidation-aware view of other traders' wallets.

In short: Zerion shows you the surface of your portfolio. Hyperfolio shows you the engine room.

Hyperfolio vs Zerion: side by side (August 2026)

Feature	Hyperfolio	Zerion
Price	Free, no paywall	Free tier; Premium ≈$99/year
Signup to inspect a wallet	None — paste any address	Wallet app; third-party P&L needs Premium
Hyperliquid perps PnL	Per position, realized + unrealized	Own perps account; token-level P&L
Fees & funding breakdown	Explicit, per position	Funding listed; extra Zerion fee on perps
Smart Money radar	Yes ($10K / $25K / $50K+ filters)	No native Hyperliquid radar
Push alerts	Entry/exit + wallet alerts, installable PWA	Wallet activity notifications
Any-wallet lookup	Unlimited and free	Limited; P&L behind Premium
Multi-venue	Hyperliquid + AsterDEX in one panel	EVM chains + Solana, no AsterDEX
Export	Trade history export	CSV export behind Premium

What the table does not show is the most important thing: the direction of product design. Zerion is a wallet that added perps. Hyperfolio is a perps tracker, period. That difference decides what each tool optimizes for — Zerion optimizes for keeping you inside its app to trade and pay fees; Hyperfolio optimizes for showing you the truth about any wallet, whether it is yours or a trader you follow.

Real PnL is net of fees and funding

Here is a concrete example of why the breakdown matters. Suppose you trade a $50,000 notional round trip on Hyperliquid as a taker. At the standard 0.045% taker fee, that is $22.50 per side, $45 total. Now add funding: holding a position through a week of 0.01% funding every 8 hours means 21 funding payments, or roughly $105 on $50,000. Total drag: about $150 — before any price move. Add a couple of entries and exits per week and that drag compounds into hundreds of dollars a month that no token-balance view will ever show you.

A wallet that only shows token balances will never surface that $150. Hyperfolio does, per position: realized and unrealized PnL net of fees and funding, so the number you see is the number you keep. That is the difference between a pretty dashboard and an honest one. Paste any Hyperliquid address into Hyperfolio and see the net PnL breakdown — no account, no keys.

Smart Money and alerts: the tracking layer

Once you track your own PnL correctly, the next step is tracking the traders who print money. Hyperfolio's Smart Money radar follows top Hyperliquid traders with position-size filters ($10K, $25K, $50K+), and push alerts notify you of entries and exits even when the app is closed, thanks to the installable PWA.

Zerion has wallet notifications and transaction subscriptions — its API even sells real-time webhooks to builders — but it does not offer a Hyperliquid-native smart money radar with perps context: leverage, liquidation distance, funding impact. Imagine watching a $50K+ wallet open a fresh BTC-PERP long at 10x: on Hyperfolio you see the entry, the leverage and the liquidation distance in the same alert. For following profitable perp wallets, Hyperfolio is a different category of tool. Try the Smart Money radar free and see what top wallets are opening right now.

Multi-venue: Hyperliquid and AsterDEX in one panel

Power users do not trade on a single venue anymore. Hyperfolio aggregates Hyperliquid and AsterDEX into one portfolio view, so your equity, positions and PnL are consolidated instead of scattered. Zerion does not cover AsterDEX: its multi-chain story is EVM-focused, and its Hyperliquid integration is centered on its own wallet and API product rather than on independent tracking.

Takeaway: if you trade perps on Hyperliquid or AsterDEX, you need a tracker built for perps — not a wallet that happens to list perps as a feature.

Where Zerion still wins

Honesty keeps this comparison credible, and Zerion genuinely wins in several scenarios:

• Global net worth across EVM chains: for a multichain token portfolio, Zerion's coverage of 8,000+ protocols is hard to beat.
• All-in-one wallet: it is a functional wallet with swaps, bridges and perps execution in a polished mobile app.
• API for builders: its Hyperliquid API product is real — developers can query portfolios, positions, transactions and PnL, with a free Developer tier (2K requests/day) and paid tiers from $149/month.

So the honest workflow for many traders is: Zerion for the multichain wallet and net worth, Hyperfolio for the perps PnL truth. The mistake is using one for the other's job — especially at tax time, when a green dashboard does not equal realized PnL net of fees. If you want the full landscape, our best Hyperliquid tracker ranking and our Hyperfolio vs DeBank comparison cover the rest of the field.

Frequently asked questions

Does Zerion support Hyperliquid?

Partially. Zerion added perps trading (up to 40x) inside its wallet and offers a Hyperliquid data API for builders, but its consumer app is built around EVM token portfolios. It does not provide per-position perps PnL net of fees and funding for arbitrary wallets the way a native tracker does.

Is Zerion free?

The wallet and multichain portfolio tracking are free; Zerion monetizes through fees on in-app swaps and bridges. Premium (≈$99/year) adds "P&L for any wallet", CSV export, priority support and fee discounts.

Can I see any Hyperliquid wallet's real PnL with fees and funding in Zerion?

Not natively. Zerion's P&L features are token-centric, and third-party wallet P&L requires Premium. Hyperfolio shows any Hyperliquid wallet's perps PnL net of fees and funding for free, read-only and without registration.

What is the best free Zerion alternative for Hyperliquid perps?

Hyperfolio: free, no signup, read-only. Per-position realized and unrealized PnL, fees and funding breakdown, Smart Money radar, push alerts and Hyperliquid + AsterDEX aggregation in one panel.

Is Hyperfolio safe to use?

Yes. It is read-only: you connect with a wallet signature or simply paste any address to inspect it. No private keys, no API secrets, no transaction signing — nothing leaves your control.

Bottom line: track the number that matters

Zerion is a good wallet. Hyperfolio is the answer to the question your wallet app cannot answer: what did I really make on Hyperliquid, after fees and funding, per position and per wallet? Whether you are reviewing your own quarter or deciding whether a copy-trading candidate is worth following, the number that matters is the net one — and that is the only number Hyperfolio is built around.

Open Hyperfolio and check any wallet for free — connect your wallet or just search any address. No registration, no keys, no paywall. The real PnL has been there all along; now it is visible.