Lighter Robinhood is a different exchange, not a mirror of Hyperliquid. It has its own liquidity, its own market list, which includes equity style markets alongside crypto, and its own idea of what an account is. Traders there are discovered, measured and ranked on that venue, using that venue's own record of what was traded.
The first thing that differs is identity. On Hyperliquid a trader is a wallet address. On Lighter Robinhood a trader is an account number, and one wallet can hold several accounts, each trading independently. We score each account on its own, because that is the thing whose behaviour you would be copying. The wallet checker shows you every account behind an address so you can tell them apart.
The second thing that differs is leverage. Lighter Robinhood caps leverage per market, and the cap varies a great deal from one market to the next. That matters for anything expressed as a return, because the same result looks very different depending on which market produced it. We measure returns against the size of the position rather than the margin behind it, so a trader is not flattered by a market that happened to allow more leverage.
- Two rankings, not two views
- The proportional tab and the fixed dollar tab are separate orderings. A trader can sit near the top of one and nowhere on the other.
- The fixed dollar ranking is a replay
- We take the trader's real fill history and run it back through fixed dollar sizing, order by order, including the partial fills and the slippage a follower would have met. It is a reconstruction of what copying would have done, not a rescaling of what the trader did.
- Short holds are penalised
- A trader who is in and out within a minute is difficult to copy well, because a follower arrives seconds later. That gap is treated as a cost rather than ignored.
- Losing wallets are not listed
- A trader who lost money over the window does not appear in either ranking, whatever else the numbers say about them.
We track more accounts than we rank. An account can be measured and still be left out of the rankings, because ranking is a stronger claim than tracking: it says this one is worth your attention. When you look up an account we track but have not ranked, it is marked as such rather than given a score it has not earned.
The trader page works the same way it does on Hyperliquid, with the additions that this venue makes possible. Because the exchange records the leverage actually used on every fill, the page can show what a trader really used rather than an estimate of it, and the round trip table can show how many separate orders went into each position.
Rankings on the two venues answer the same question but not on the same terms. A market that exists on one and not the other, or a leverage cap that differs between them, is enough to make a row for row comparison misleading. Read each ranking within its own venue.
The current rankings are on the Lighter Robinhood leaderboard at /lighter-leaderboard, and the Hyperliquid rankings are at /leaderboard.