Source: https://watch.fincobra.com/docs/hyperliquid.html


# Hyperliquid Exchange Tracking

Track your Hyperliquid portfolio by providing your wallet address. FinCobra monitors current balances and values.

## How to Connect

Enter your wallet address that's connected to Hyperliquid. Since Hyperliquid is an on-chain exchange, your portfolio is linked to your wallet address — no API keys needed.

The connection is **read-only**.

## PnL Coverage

HYPE PnL uses the USDC cost of spot purchases, including trading fees. It follows the current position from its last zero balance. Spot HYPE, delegated HYPE, undelegated HYPE, and pending staking withdrawals remain one position. Moving HYPE into or out of staking does not reset its cost.

Staking rewards increase the HYPE quantity without adding purchase expenditure. Their current value therefore contributes to the position's investment return. This is an investment-cost calculation, not a tax-basis report.

History sync stores trades and rewards once and requests an overlapping incremental trade window on later syncs. Balance and price refreshes reuse the cached portfolio ledger. External HYPE receipts without a known acquisition cost and incomplete history can limit PnL coverage. Hyperliquid exposes only the most recent 10,000 fills; a history limit is marked as incomplete. Perpetual HYPE trades are separate from spot HYPE.

See [How PnL Works](./how-pnl-works.md) for the coverage rules.