Hyperliquid’s Top Traders Favor High-Turnover, Two-Sided Strategies

Hyperliquid, a decentralized platform centered on perpetual-futures trading, offers public transaction data that can be used to study the behavior of sophisticated market participants. Minara AI’s analysis is significant because it shifts attention away from early bets on individual tokens or one-way exposure to market trends. Instead, it suggests that execution quality, disciplined risk management and repeated turnover can underpin durable trading profits.

Minara AI analyzed more than 43,000 Hyperliquid accounts and identified 12 traders with sustained, consistent profitability. Eight of the 12 primarily used high-turnover, two-sided execution strategies, according to the study. Rather than accumulating tokens ahead of rallies or maintaining directional positions, the leading accounts repeatedly traded both sides of the market, capturing small price spreads across thousands of transactions and allowing modest gains to compound over time.