Ghost Mode

Ghost Mode leverages Hyperliquid’s onchain and transparent nature to let you observe real trading activity from other wallets onchain in near real-time.

Overview

Ghost Mode allows you to spectate a public address’s trading activity. When you enter an address (or select one from a leaderboard or example list), you can see that trader’s orders and fills stream in as they happen on the blockchain. You can also build a Watchlist of addresses to follow multiple traders. Ghost Mode does not let you interact with the trader and you are limited to observing their onchain activity.

How to Use Ghost Mode:

• Entering Ghost Mode: Find the Ghost Mode icon in the upper right corner or select Ghost Mode from the Connect Wallet menu options.

• Following a Wallet: Enter any public Hyperliquid wallet address (0x1234... style for Hyperliquid addresses) that you know is active, or choose from the leaderboard options in the selection menu. You can also use the Watchlist feature to save addresses you’re interested in (e.g. known market maker or whales).

• Ghost Mode Interface: Once active, the interface will update, and a banner indicating you are spectating a wallet will appear. The interface will display the Positions panel and various other interactions of the wallet you are watching.

• Exit Ghost Mode: When you’re done, you can exit spectating to return to your own account’s view by clicking Exit Ghost Mode in the order ticket window, or by clicking the Ghost Mode icon or Connect Wallet drop down.

Good Practices and Warnings:

• Learning not Signal: Ghost Mode can be great for getting insight into how other traders operate. You might observe things like how they scale into positions or set stops. However, be cautious about copying trades blindly. Their risk tolerance and strategy might not suit you, and what you see may also be slightly delayed.

• Respect: Remember that these traders are not asking to be “followed” and this is public data. Understand that they do not owe you any explanation or guidance. Don’t harass or spam them on social platforms.

• Privacy and Ethics: All information shown is already public onchain. We do not reveal any personal identities, just the blockchain addresses. We also do not show the trader actively moving their cursor or inputting keystrokes and only displays onchain information. In no event should you try to dox or otherwise uncover a trader you are following on Ghost Mode (or in any other context).

• Technical limitations: There may be a slight delay (a few seconds) between a trade occurring onchain and it showing in Ghost Mode, due to block times and processing. Also, if an address has a huge amount of activity, you might not see absolutely everything in real time. Leaderboards, if present, may be updated on a schedule or imported from third party services outside of our control. They are meant for general insight, not real-time ranking.

• Caution after Exiting Ghost Mode: Be careful not to inadvertently misclick after exiting Ghost Mode when you are back in your account!