How Hyperliquid’s Portfolio Page Calculates Maximum Drawdown
Summary
The document explains the maximum drawdown figure shown on Hyperliquid’s portfolio page and clarifies that it is a convenience metric displayed by the frontend. It does not affect margin requirements or other platform calculations. To reproduce the displayed measure, compare PnL at each later end time with PnL at an earlier start time, then divide that change by account value at the start. The reported drawdown is the most negative result across the possible time ranges.
A key detail is that each candidate interval uses its own starting account value as the denominator. This means the formula is not equivalent to taking an absolute loss and dividing it by one fixed account value. The document provides the formula but no worked example or discussion of alternative conventions. Users seeking a different or more precise measure are directed to obtain their account value and PnL history and calculate it according to their chosen definition.
Key ideas
- The portfolio page’s maximum drawdown is a frontend display and does not affect margining.
- The calculation compares PnL at a later time with PnL at an earlier time.
- Each candidate interval is normalized by account value at its own start time.
- Users can calculate a different drawdown measure from their account value and PnL history.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.