Hyperliquid taxes

Hyperliquid taxes without the spreadsheet

One Hyperliquid margin account can hold perps, spot and outcome markets, plus hourly funding. Paste your address and we import every fill, funding payment and transfer from the public API, then split them into the right instruments.

The 0x address you trade from. Read-only, no signup, nothing stored.

What makes Hyperliquid different

Funding is tracked separately

Hourly funding is income, not a disposal. We keep it apart so it can be treated on its own.

Shorts and flips

A fill that closes a short and opens a long is split correctly, with the fee prorated across both legs.

Fees in the base token

Spot fees charged in the base token are valued at the fill price, so basis stays exact.

Treatments

How Hyperliquid activity could be taxed

There is no IRS ruling for event contracts. We compute each option on your trades.

Capital asset

Form 8949 + Schedule D

Gains: Short-term at ordinary rates if held one year or less; long-term rates if held longer.
Losses: Offset capital gains, then up to $3,000 a year of ordinary income; the rest carries forward.
When it comes up: The common default for crypto-settled positions, including Polymarket outcome tokens held in your own wallet.

Section 1256 (60/40)

Form 6781

Gains: 60% long-term and 40% short-term, whatever the holding period. Open positions are marked to market on Dec 31.
Losses: Capped like capital losses, with an optional 3-year carryback against prior Section 1256 gains.
When it comes up: Only for contracts that qualify as regulated futures on a qualified exchange. Whether event contracts qualify is unsettled.

Other income

Schedule 1, line 8z

Gains: Net profit is ordinary income at your marginal rate.
Losses: A net loss generally cannot offset other income.
When it comes up: A conservative reading some preparers use for exchange-traded event contracts while guidance is missing.

Gambling

Schedule 1 + Schedule A

Gains: Every winning session is income, even if you lost overall.
Losses: Deductible only if you itemize, and from 2026 only 90% of losses, never more than winnings.
When it comes up: The least favorable outcome for most active traders, and the one to understand before you file.

Hyperliquid tax guides

All guides

Hyperliquid Funding Payments and Taxes: Income or Part of Your Trade?

Hyperliquid pays funding hourly. Is it ordinary income or part of your perp P&L? Two approaches, a worked example, and the records to keep.

Hyperliquid Taxes: Perps, Spot, Funding and HYPE (2026 Guide)

Hyperliquid taxes for US traders: how perps, spot trades, funding, fees and HYPE rewards are reported, why there's no 1099, and a worked example.

See your real P&L in 30 seconds

Paste a wallet. No signup, no keys, nothing stored.

Check my wallet See pricing