HLP, Hyperliquidity Provider
Hyperliquid
APR, as Hyperliquid reports it
+3.33%
- TVL
- $180.3M
- Last 30 days
- +0.31%
- 30-day PnL
- +$586K
- Deposit lock
- 4 days
HLP profit and loss over the last 30 days
HLP and LLP yields
HLP and LLP yields, side by side
Hyperliquid’s HLP and Lighter’s LLP are the two exchanges’ own liquidity vaults: depositors fund their market making and liquidations and share the result. This page reads both from the exchanges every hour: the yield each one reports, the money in it and what the last 30 days returned.
LLP, Lighter Liquidity Provider
Lighter
APY, as Lighter reports it
+14.88%
- TVL
- $87.4M
- Last 30 days
- +1.56%
- Sharpe ratio
- 3.83
- Role
- Insurance fund
LLP cumulative return over the last 30 days
Read from Hyperliquid and Lighter on October 13 at 14:29 UTC.
What the two vaults do
HLP provides liquidity to Hyperliquid through several market making strategies, performs liquidations, supplies USDC in Earn and receives a portion of trading fees. It is owned by its depositors, and a deposit can be withdrawn four days after the most recent one.
The LLP does the same job on Lighter: it provides liquidity, runs market making strategies and takes over positions when an account falls below its close-out margin, which is why Lighter calls it its insurance fund. Lighter states that auto-deleveraging events are backstopped by the LLP, so that risk sits with its depositors; how its liquidations work is on the Lighter liquidation calculator page.
The headline figures are each exchange’s own, computed its own way. The 30-day return is ours, from the same data for both: profit over the last 30 days against the vault’s value at their start for HLP, Lighter’s daily returns compounded for the LLP. A vault that returned well last month can lose this month.
Not financial advice and not a recommendation to deposit; see the disclaimer.
Questions people ask
Hyperliquidity Provider, a protocol vault owned by its depositors. It provides liquidity to Hyperliquid through market making strategies, performs liquidations, supplies USDC in Earn and receives a portion of trading fees, and depositors share its profit and loss.
Lighter Liquidity Provider, a community-owned and protocol-run pool. It provides liquidity to Lighter, runs market making strategies and takes over the positions of accounts that fall below their close-out margin, which also makes it the exchange’s insurance fund.
Four days: Hyperliquid lets you withdraw four days after your most recent deposit. Vaults run by individual traders lock deposits for one day.
Yes. Both trade, and both earn by taking the other side of the market and of liquidations, which loses in some periods. Lighter states that auto-deleveraging events are backstopped by the LLP, so its depositors carry that risk. Past returns are no promise of future ones.
Each exchange computes its headline figure its own way and over its own window. The 30-day return on this page is worked out from the exchanges’ own data the same way for both: profit over the last 30 days against the value at their start for HLP, daily returns compounded for LLP.
Yes. TrueHold reads Hyperliquid by address, deposits into vaults like HLP included, and shows them next to the rest of your portfolio. The Hyperliquid portfolio tracker page explains what it reads.
Vault deposits in the same view as everything else
TrueHold reads Hyperliquid by address, vault deposits like HLP included, and Lighter through a read-only token, next to your exchanges, wallets and DeFi.
TrueHold is an independent tool and is not affiliated with, sponsored or endorsed by Hyperliquid or Lighter. Names and logos belong to their owners.