Hyperliquid PnL Calculator: The Formula, the Tools, and Your Real Number

Your net PnL on Hyperliquid is gross price PnL minus trading fees and hourly funding: Net PnL = (exit − entry) × size − fees − funding paid + funding received. Most PnL calculators on the web ask you to type entry, exit and size by hand — Hyperfolio is the PnL calculator that reads any Hyperliquid wallet and shows the full breakdown automatically, free and without registration. Paste any address at app.hyperfolio.fun and you get realized PnL, fees, funding and net result in seconds.

The Green Position Tab That Lies to You

Every Hyperliquid trader knows the pattern: the position tab says +$2,400, you close the trade, and your account only grew by $1,900. You are not bad at math — you are missing the layer between gross and net. Trading fees (0.035% taker, 0.015% maker at base tier) hit every fill, and funding settles every single hour on every open position. Multiply that across a month of scalping and the difference is routinely 10–30% of your gross PnL.

That gap is exactly why "hyperliquid pnl calculator" is one of the most searched queries in the ecosystem — and why almost every calculator you find answers the wrong question. They tell you what a trade would make if you typed the numbers. None of them can tell you what a wallet actually made. This guide covers both: the exact math behind Hyperliquid PnL, a quantitative review of every calculator worth using in 2026, and the one tool that skips the typing entirely.

The Exact Hyperliquid PnL Formulas

Hyperliquid settles everything in USDC, and the core math is the same as any perpetual exchange. The three formulas you actually need:

• Unrealized PnL (long): (mark price − entry price) × position size
• Unrealized PnL (short): (entry price − mark price) × position size
• Realized PnL: (exit price − entry price) × size for longs, reversed for shorts — before costs

Then come the two layers every generic calculator skips:

• Trading fees: 0.035% taker / 0.015% maker at base tier, charged on open and on close. Higher 30-day volume tiers and HLP stakers pay less, and the top tiers even earn maker rebates.
• Funding: paid or received every hour, peer-to-peer. Cost = position notional × hourly funding rate × hours held. Positive funding means longs pay shorts. Typical rates float between ±0.001% and ±0.05% per hour (annualized roughly ±10% to ±100%+); crowded trades can exceed ±0.1%/h, and Hyperliquid caps funding at 4%/h.

Net PnL = Realized PnL − fees paid − funding paid + funding received. Return on equity (ROE) = Net PnL ÷ margin × 100%, with margin = notional ÷ leverage (up to 50× on Hyperliquid).

The formula is simple. The execution is not: funding accrues hourly, fees hit both sides, and partial fills break naive spreadsheets. That is why the tool matters more than the math.

Step by Step: A Worked PnL Calculation on a Hyperliquid Perp

Let's calculate a realistic ETH trade, as of August 2026 — 10 ETH long at $3,500 with 10× leverage, closed at $3,780 after 24 hours:

Step	Amount	Calculation
Entry: 10 ETH long at $3,500	$35,000 notional	10 × $3,500
Exit: 10 ETH at $3,780	$37,800 notional	10 × $3,780
Gross realized PnL	+$2,800	10 × ($3,780 − $3,500)
Taker fee on open	−$12.25	0.035% × $35,000
Taker fee on close	−$13.23	0.035% × $37,800
Funding paid, 24h at +0.008%/h	−$67.20	0.008% × 24 × $35,000
Net PnL	+$2,707.32	$2,800 − $25.48 − $67.20
ROE at 10× (margin $3,500)	+77.4%	$2,707.32 ÷ $3,500

In that single trade, $92.68 of the $2,800 gross profit disappeared into costs — a 3.3% haircut on a winning trade. On a break-even trade, the same costs turn the result negative. Now imagine 200 trades a month: the manual spreadsheet approach dies somewhere around trade 47, the day you forget one funding row.

Liquidation is the other formula worth knowing. With isolated 10× margin, a long is liquidated when the price falls roughly 10% from entry (entry × (1 − 1/leverage), adjusted for fees and the ~1% liquidation penalty the engine applies when it closes you out). A single liquidation can erase more than a week of careful net-PnL gains.

Every Hyperliquid PnL Calculator Compared (2026)

We tested the calculators that actually rank for "hyperliquid pnl calculator" in 2026. Here is the quantitative breakdown:

Calculator	Price	Fees layer	Funding layer	Reads your wallet	Historical realized PnL	Signup
tradingcalc.io	Free	Yes (taker/maker, adjustable)	No	No	No	No
perp.wiki	Free	Outdated (0.05% / 0.025%)	No	No	No	No
usekeel.io (Keel)	Free calculator, paid platform	No	Yes	No	No	Calculator: no
perpulator.com	Free	Partial (position sizing)	No	No	No	—
Hyperfolio Perp Calculator (in-app)	Free	Yes (live HL mark price)	Yes	No — manual simulation	No	No
Hyperfolio wallet tracker (app.hyperfolio.fun)	Free	Yes — automatic	Yes — automatic	Yes — paste any address	Yes	No

Notes on the data: tradingcalc.io pre-fills live Hyperliquid prices from the exchange API and lets you adjust fees, but models no funding. perp.wiki still quotes 0.05% taker / 0.025% maker — above today's base rates, so its cost estimates skew high. usekeel.io is the most complete pure calculator (gross + funding + net) but omits the fee layer and acts as a lead magnet for Keel's paid strategy platform. perpulator.com focuses on position sizing and live charting rather than historical accuracy. None of them connect to a wallet.

The Blind Spot Every Online Calculator Shares

Type entry. Type exit. Type size. That is the entire workflow of every standalone calculator — which means they answer only one question: what would this trade have made? The question every active trader actually asks is what did my wallet make last month, after fees and funding, across every venue?

Answering that requires reading the exchange state, not typing numbers: every fill, every fee, every hourly funding settlement, every liquidation. It is exactly the gap a native Hyperliquid tracker was built to close, and it is why the most useful "calculator" in 2026 is the one that does the typing for you.

Hyperfolio: The PnL Calculator That Reads the Wallet

Hyperfolio is a free, read-only portfolio tracker that computes real PnL from the actual on-chain state of any Hyperliquid wallet. Open app.hyperfolio.fun and paste any address — no registration, no wallet connection, no CSV imports.

• Realized and unrealized PnL per wallet and per period — not a single-trade guess.
• Fees and funding broken down automatically — the two layers every generic calculator skips.
• Multi-venue aggregation: Hyperliquid, AsterDEX, Lighter and Robinhood Chain in one equity curve.
• Smart Money Radar and Top 100 PnL 30d to see what profitable wallets are doing.
• Push alerts on entries, exits and liquidations of the wallets you follow.

You can even preview a trade before taking it with the built-in Perp Calculator — live mark price from Hyperliquid, fees, funding, cross or isolated margin, and the liquidation price. Simulate first, then check what you actually made. Try the tracker free — paste any wallet and see its real net PnL in seconds.

Where the Standalone Calculators Win

To be fair: the manual calculators are not useless, and we use them ourselves for one specific job — pre-trade planning.

• tradingcalc.io is fast and clean for a quick ROE sanity check before entry.
• usekeel.io is genuinely useful for modeling a multi-hour hold with funding drag before you commit.
• perpulator.com is handy for position sizing and visualizing risk across price levels.

Their weakness is the same as their strength: they are forward-looking simulators. For what actually happened to your account — the number your taxes, your strategy review and your ego depend on — you need backward-looking accuracy straight from the exchange. That is the calculator job Hyperfolio does for free.

Check Any Wallet's Real PnL in 60 Seconds

1. Open app.hyperfolio.fun — no account needed.
2. Paste any Hyperliquid address in the search bar.
3. Read the PnL summary: realized PnL, fees, funding and net result.
4. Connect your own wallet once (read-only) for the full multi-venue equity curve and alerts.

You do not need a subscription to know whether a wallet is actually profitable after costs. Check any Hyperliquid address and compare gross vs net in one screen.

FAQ: Hyperliquid PnL Calculator

How do I calculate my PnL on Hyperliquid?

Net PnL = (exit − entry) × size − trading fees − funding paid + funding received. For longs the price term is positive when you exit above entry; for shorts it is reversed. Hyperfolio computes this automatically per wallet, free and without signup.

What are Hyperliquid's trading fees?

Base fees are 0.035% for takers and 0.015% for makers, with discounts for higher 30-day volume and HLP stakers. A taker round trip on $10,000 notional costs about $7; the same trip as a maker costs about $3.

Does Hyperliquid have a built-in PnL calculator?

The official app shows unrealized PnL per open position and the history of closed fills, but it does not total your net PnL after fees and funding. That aggregate calculation is exactly what a dedicated tracker like Hyperfolio does automatically.

How does funding affect PnL on Hyperliquid?

Funding settles every hour between longs and shorts. Cost = notional × hourly rate × hours held; positive funding means longs pay shorts. On multi-hour or multi-day holds, funding can exceed your entire fee bill.

Is there a free Hyperliquid PnL calculator that reads my wallet?

Yes. Hyperfolio is free, requires no registration, and calculates realized PnL, fees and funding for any Hyperliquid address you paste — no manual entry, no spreadsheets.

Stop Typing, Start Knowing

The calculators on this list will still be useful for planning your next trade. But the number that matters — what you actually kept after fees, funding and every hourly settlement — only comes from the exchange state itself. Open Hyperfolio, paste any Hyperliquid address and see its real net PnL — free, no signup, in under a minute. And when you want to go deeper, the guide to fees, funding and hidden costs explains exactly where the money goes.