Went through all vaults in Hyperlid, looking for alpha … The average crypto participant couldn’t care less about it but if all I want is beta I’d rather just buy BTC. In traditional finance markets, it’s very hard to do this kind of analysis but , in crypto, vaults provide a very interesting opportunity. Obviously alpha is scarce but the data is out there for us to look at in a way that doesn’t exist in tradfi.

Methodology

• Retrieved data for all vaults and compute capital adjusted percentage returns. The goal was to adjust for capital changes which are frequent in vaults
• Compute alpha vs both SOL & Beta
• Compute sharpe
• Look for high sharpe traders that have ~ statistically significant across SOL & BTC
• Filter for traders with > 10k usd. Realistically I won’t be comfortable to hand over my money to someone trading a very small amount of money
• Filter for >120 days of trading

Key stats for the top performers :

Name	TVL (kUSDT)	Sharpe Ratio	Gain %	SOL Alpha - tstat
Growi HF	3053	2.3	77	3
Delta_01	812	1.9	1273	2.3
pmalt	119	2.5	484	2.2
HLP Liquidator	599	2.6	146493	2
Tedy57123	22	1.7	173	2
Sentiment Edge	60	2.2	91	1.9
Spitfire	1074	1.8	246	1.9
Martyrbit	972	1.9	27	1.8
-VectorZero-	17	1.8	79	1.8
Cryptoaddcited	140	1.8	48	1.7
Quebi - Apex One	12	2	8	1.7
Road to 10 Million	180	1.5	123	1.6
Octavious Maximus	12	2.1	345	1.5
Gucky_2coin_1dot75x	14	1.8	41	1.5
Crypto Trading Channel	71	1.3	16	1.4
JizzJazz	54	1.2	177	1.3
Zhelvis	13	1.5	134	1.3
yubo degen fund	125	1.6	77	1.2
DailyTradeAI Low risk	428	1.1	87	1.2
BTC / SOL / HYPE Trend + L/S Overlay	50	1.4	29	1.1

Some vaults like Growi 01, Delta_01, pmalt, Sentiment Edge & Spitfire look very interesting - high sharpe with statically significant alpha.