What are Vaults

A vault on Hyperliquid is an onchain pooled account where users can deposit funds and get exposure to a trading or market-making strategy. Vaults are a native feature of Hyperliquid’s HyperCore system, and they can be run by an individual trader or an automated strategy.

When you deposit into a vault

• Your funds are pooled with other depositors

• The vault executes a strategy (for example, trading or market making)

• You share in the vault’s profit and loss (PnL) based on your share of the vault

• You also take on the strategy risk (vaults can lose money)

Vaults are a flexible primitive that can support advanced strategies, including high-throughput market making and liquidation-related strategies — not just simple token rebalancing.

How profit sharing works

For standard (user-run) vaults, depositors receive the vault’s performance pro rata, and the vault leader receives a 10% profit share of gains. This profit share does not apply to protocol vaults (like HLP).

Important risk note

Depositing into a vault is not passive savings. You are exposed to the underlying strategy’s outcomes, and past performance does not guarantee future returns. Hyperliquid explicitly warns that vaults are risky and should be evaluated carefully before depositing.