Guides
Long-form walkthroughs on how DeFi perp venues actually work, where the formulas lie to you, and how to build a review practice around your trades.
Paper PnL vs Real — what TheWhiteWhaleHL actually made on this Hyperliquid ETH long
Line-by-line audit of a public $30M profit claim on Hyperliquid. Only $1.37M of the gap was explicit friction — but the funding alone was 6.3% of his actual exit, a number his peak screenshot never shows.
Open-source trading journal for DeFi perp traders
Why I built a free, self-hostable trading journal designed for GMX, Hyperliquid, and other DeFi perps — and the fields the established SaaS journals never added.
GMX v2 liquidation mechanics — what CEX traders get wrong
A hands-on walk through GMX v2's liquidation model — GM pools, borrow + funding fees, price impact, and the places where the formula lies to you.
How Hyperliquid liquidations actually work (and why they surprise you)
A hands-on explanation of Hyperliquid's liquidation mechanics — maintenance margin tiers, insurance fund, ADL, and the specific ways they differ from centralized exchanges.