Hyperliquid
Spot, perpetual and staked balances on Hyperliquid
A Hyperliquid wallet’s total value can include several balance types, depending on account mode and valuation rules. Perpetual equity, spot holdings, staked assets and withdrawable funds answer different questions. Do not assume the largest balance shown is immediately available to support every trade.
Is a crypto portfolio tracker the same as a copy portfolio?
A crypto portfolio tracker describes holdings and their value within the networks and accounts it supports. A copy portfolio defines leader wallets, weights and follower controls. WalletFollow’s research focuses on Hyperliquid account data; a displayed total is not automatically a combined valuation of assets on other chains or exchanges.
Researching an existing wallet’s balance composition does not subscribe your own account to its trades. Keep the observed account, the proposed portfolio allocation and your actual follower account separate when comparing capital or results.
Identify the balance category
Spot holdings represent asset balances, while perpetual positions create market exposure backed by margin. Perpetual account equity can change as open positions gain or lose value. Staked assets have a separate role and availability conditions. A tracker’s total-value summary must state which categories it includes so readers do not accidentally add a component twice.
Account abstraction modes can affect how balances and collateral interact. Read the account mode where it is available, then use the corresponding venue information. If the mode is unknown, keep that uncertainty in any margin or capital analysis.
Asset quantity is different from a dollar valuation
A spot balance needs a price before it becomes a dollar value. Thinly traded or unsupported assets may not have a reliable valuation. A large token quantity can produce an unrealistic headline wealth figure if it is multiplied by a price at which the whole holding could never be sold.
WalletFollow can exclude holdings from a total under its valuation rules or leave their value unavailable. An excluded dollar value is not the same as a missing token balance. Review the reason rather than assuming the asset disappeared from the account.
Does total wallet value equal the available trading balance?
No. A profitable account may still have capital committed as margin, open orders or holdings with restricted availability. Unrealised profit is not a separate cash deposit. Likewise, a spot holding’s estimated market value does not prove the same amount is available as settlement currency for a perpetual order.
Hypothetical example: a wallet has $8,000 of account value while an open position uses much of its margin capacity. Quoting $8,000 as cash ready for a new copy allocation would ignore the existing obligations. Inspect free or withdrawable balances on their stated account basis.
Compare wallets with the same accounting scope
When ranking account size, decide whether you are comparing perp equity or a broader valuation. Keep that choice consistent across wallets. A portfolio with spot assets and a perp hedge can look directionally different from its perp book alone. Public tracking remains incomplete if additional hedges sit elsewhere.
- Read category and account mode.
- Check valuation and exclusion rules.
- Avoid double-counting included components.
- Separate estimated value from funds available for new risk.