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Coinversa indexes every active Hyperliquid wallet and classifies it into two orthogonal tier systems:
  • PnL tier — by all-time realized (closed) PnL from indexed fills
  • Size tier — by lifetime traded notional (USD)
A classified wallet has exactly one PnL tier and one size tier. Wallets not yet in the traders rollup have no tier: cohort aggregates leave them out and say how many (e.g. coverage.withoutTier; untracked on builder cohorts). Together the two tiers form a 2D map of trader behavior — e.g. “Sharps + Middleweights” is a different cohort from “Sharps + Featherweights”, even though both are profitable. Each tier has a canonical slug and a legacy slug. Requests accept either one on path parameters, query parameters and MCP tool arguments. Responses return the legacy slug (e.g. pnlTier: "money_printer"), so match on the legacy slug, or on either, when you read responses.

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PnL tiers

Ordered from best to worst. Thresholds are fixed dollar buckets on realized PnL; lower bounds are inclusive.

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Size tiers

Ordered from largest to smallest. Thresholds are fixed dollar buckets on traded notional; lower bounds are inclusive.

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All-time vs 30-day tiers

All-time tiers classify a wallet on its lifetime realized PnL and traded volume. 30-day tiers use the same slugs and the same dollar thresholds on the wallet’s last 30 days (pnl_tier_recent / size_tier_recent), refreshed hourly. They are used by the pulse_cohort_recent_* tools / /pulse/cohorts-recent/* routes, and by tierType=pnl_recent on live_positioning_by_entry and live_cohort_bias_history (hourly pnl_recent snapshots from 2026-05-14). Layer responses echo the axis as cohortBasis (all_time_pnl, recent_30d_pnl or lifetime_volume) and tierWindowDays (30, or null for all-time axes). Labels are always the wallet’s current tier, so one wallet can sit in different cohorts on the two axes.

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How to query cohorts

Use the cohort tools when you want behavior at the group level rather than per wallet: Whale trades rank fills by size; they are unrelated to the Middleweights (legacy whale) size tier. Cohorts are addressed by tierType (pnl or size) and tier (a slug from the tables above — either the new or the legacy slug works):

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When to use cohorts vs individual wallets

  • Cohorts when you want a signal — “are the Middleweights loading up on BTC?” / “are the Sharps bearish on ETH?”.
  • Builder cohorts when you want the user mix of a builder code — the builder endpoints label wallets with their lifetime tiers (pnlTier / sizeTier, legacy slugs), which can differ from the 30d-rolling tiers the cohorts-recent endpoints classify by. See Builder codes & attribution.
  • Individual wallets when you want a specific story — “what is 0xabc... doing?” / “how is this trader I follow performing?”.
Most agent workflows benefit from cohort-first analysis: it’s signal-rich, and you can drill into specific wallets with pulse_token_leaderboard (top traders for a coin) when you want names.