--- title: "Hyperliquid (HyperCore)" description: "Add your HyperCore account by address and Recap turns your spot trades, perpetuals, funding, staking and vault activity into one filing-ready tax report." --- # Automated Hyperliquid (HyperCore) Crypto Tax Calculator Add your HyperCore account by address and Recap turns your spot trades, perpetuals, funding, staking and vault activity into one filing-ready tax report. A Hyperliquid account rarely stays simple for long. Perpetual fills settle at order-book granularity, often dozens per order, and funding payments post every hour. HYPE staking rewards compound straight into your delegated balance, with no ledger entry marking the day they landed. Vault deposits, sub-account transfers and gas paid in HYPE add more on top. Recap reads your HyperCore fills, ledger entries, funding payments and staking rewards. Each one is classified by default, giving you a figure ready to file or hand to your accountant. This page covers how Recap classifies Hyperliquid activity and how to get your history in. > **Disclaimer** > > The information provided in this content does not endorse Hyperliquid. Furthermore, it does not constitute tax advice. If anything financial or tax-related is unclear, speak to a qualified tax professional. You can also share your Recap account with your accountant or tax adviser directly. ## Why Hyperliquid tax is difficult to work out by hand HyperCore combines spot trading, perpetual futures, staking and vaults in one account, and Recap reads all of it from a single public address. That breadth is what makes the tax side hard to reconstruct by hand. Order fills add up fast. Hyperliquid reports perpetual trades at the order-book level, and a single order can generate around 25 fills. Left unaggregated, an active account could produce tens of thousands of rows for one year of trading. Staking income is easy to miss entirely. HYPE staking rewards auto-compound into your delegated balance and never appear as a normal ledger row. A raw export can look like nothing happened when income was actually accruing. Sub-accounts and vaults add more accounts to track. Hyperliquid only shows a master account's own activity, so any sub-account needs adding separately. Vault deposits, withdrawals, profit distributions and leader commission all need their own tax treatment too. ## How to get your Hyperliquid history into Recap Hyperliquid does not use API keys. Recap reads your history from your public HyperCore address instead. ### Add your Hyperliquid account address Enter your master account's public address, not an API agent wallet, and Recap validates it against Hyperliquid before importing. We never receive a private key or an API agent credential, only the address itself, and your history stays current as you keep trading. The Hyperliquid (HyperCore) connection is a newer integration, so Recap shows a Beta badge when you add it. If anything looks wrong, let us know through Support. ### Sub-accounts and multiple accounts If your master account has sub-accounts, Recap detects them when you connect. You are then prompted to add each one separately, since Hyperliquid does not expose a sub-account's activity through the master address. Each one then imports independently into your overall position. [Connect Hyperliquid (HyperCore)](https://recap.io/integrations/[object%20Object]) ## How are Hyperliquid transactions taxed? Recap classifies each Hyperliquid fill and ledger entry by default and applies the rules for your jurisdiction in your report. Where your circumstances differ, you can recategorise any transaction. ### Spot trades and dust conversions Recap treats a spot fill as disposing of what you sell and acquiring what you buy, the same as any crypto-to-crypto trade. Spot dust conversions, which sell small leftover balances into USDC, are treated the same way: a small disposal by default. ### Perpetuals, funding and liquidations Recap treats each closed perpetual position as realising a gain or loss, aggregating the fills that make it up into a single trade. Funding payments are not treated as income. Recap folds them into a separate net margin gains and losses figure, alongside realised profits, losses and fees, and a liquidation is treated the same as any other closed position. The UK has no dedicated guidance for crypto derivatives and points to its general rules instead. The US usually treats an individual trader's futures gains as capital gains. Its 60/40 rule for regulated futures does not apply to Hyperliquid's unregulated contracts. It is worth an adviser's view if perpetuals make up a meaningful part of your trading. ### Staking rewards and validator commission Recap treats HYPE staking rewards as income by default, valued at the point they are credited. That same value becomes their cost basis. These rewards compound automatically rather than posting as a normal ledger entry. Recap builds the income events from your delegation history instead of missing them. Commission earned by running a validator is treated the same way. ### Vaults and borrow/lend pools Depositing into or withdrawing from a Hyperliquid vault moves your USDC balance rather than creating a disposal. Profit distributions a vault pays out are treated as income by default, as is any commission a vault leader earns. Supplying to Hyperliquid's borrow/lend pool is not a disposal either. Recap splits a withdrawal into your principal plus a separate income event for the interest earned. ### Gas paid in HYPE Account activation, deploy-gas-auction bids and the network fee on a transfer are all paid in HYPE. Recap treats each as a disposal of the HYPE spent, and also adds it to the cost basis of the transaction it relates to. This table shows Recap's default classification for common Hyperliquid transactions. It is not an exhaustive schedule or a ruling. Treatment depends on your circumstances and jurisdiction, and you can recategorise any transaction where yours differ. Confirm your position with a qualified tax adviser. Refer to our [tax guides](https://recap.io/guides/crypto-tax-uk-a-comprehensive-guide) for a more detailed look at crypto tax rules. ## What we handle that the raw Hyperliquid export does not Recap decodes more than 20 distinct Hyperliquid ledger entry types, from deposits and sub-account transfers to vault activity and borrow/lend interest. It also reads your spot and perpetual fills, funding payments and staking rewards. A raw export leaves several of these needing extra work, which Recap does automatically. Order-book fills sharing the same order are aggregated into one trade using a volume-weighted price. That replaces what could otherwise be dozens of separate rows. Virtual moves between your own sub-balances are recognised too, such as shifting margin between spot and perpetuals or into HYPE staking. These are dropped rather than counted as a transfer. A transfer to a HyperCore system or asset-bridge address is flagged as a bridge leg. That lets it be matched against the corresponding activity on Hyperliquid's EVM chain, HyperEVM, rather than showing up as an unexplained withdrawal. Borrow/lend withdrawals are split into principal and interest, so the interest is recorded as income rather than folded into a plain deposit. ## What's in your Hyperliquid tax report Recap turns your full Hyperliquid history into a single tax report. Capital gains, losses and income are worked out under the rules for your jurisdiction. Closed perpetual positions and funding are aggregated into a separate net margin gains and losses figure, and everything is ready to review before you file. Your report includes capital gains and losses on every spot and perpetual disposal, using the cost basis rules for your jurisdiction. It also includes income from staking rewards, validator commission, vault distributions and borrow/lend interest, each valued at the time of receipt. ### Sub-accounts and HyperEVM You can add your master account and each sub-account under the same Recap login, and every one imports independently into your overall position. HyperEVM, Hyperliquid's EVM-compatible chain, is a separate integration from HyperCore, so activity there is added as its own account. Connect your Hyperliquid account and Recap calculates your spot, perpetual, staking and vault activity in one filing-ready report. [Connect Hyperliquid (HyperCore)](https://recap.io/integrations/[object%20Object]) ## FAQs ### Is Hyperliquid taxable? Yes. Recap treats spot trades and closed perpetual positions as capital gains disposals by default. Staking rewards, validator commission and vault distributions are treated as income at the value you receive them. Your exact tax position depends on where you are resident. ### How do I import my Hyperliquid account into Recap? You add your master account's public HyperCore address, not an API agent wallet. Hyperliquid uses that address as its only credential. Recap reads your activity without ever holding an API key or private key, and keeps your history current as you trade. The connection carries a Beta badge in Recap while it is new. ### How are Hyperliquid perpetuals and funding payments taxed? Recap treats each closed perpetual position as realising a gain or loss. Funding payments are not income: Recap aggregates them, with your realised profits, losses and fees, into a separate net margin gains and losses figure. The UK has no dedicated derivatives guidance and points to its general rules. The US usually taxes an individual trader's futures gains as capital gains. It is worth an adviser's view if perpetuals make up a meaningful part of your trading. ### Does Recap handle Hyperliquid sub-accounts and vaults? Hyperliquid only exposes a master account's own activity, so you add each sub-account separately and Recap combines them into your overall position. Vault deposits, withdrawals, profit distributions and leader commission are all recognised and classified automatically. ### Are HYPE staking rewards taxable? Yes, Recap treats them as income by default, valued when you receive them, and that same value becomes their cost basis. HYPE staking rewards auto-compound into your delegated balance without generating a normal ledger entry. Recap adds them from your delegation history instead of missing them entirely. --- Canonical HTML: https://recap.io/integrations/hyperliquid Site map: https://recap.io/sitemap.xml ยท AI manifest: https://recap.io/llms.txt Any page listed above is available as Markdown by appending `.md`, or by sending `Accept: text/markdown`.