Hyperliquid has two connected execution environments secured by the same HyperBFT consensus. HyperCore contains the native spot and perpetual order books, margin state and trading actions. HyperEVM runs general-purpose EVM smart contracts. A tool can support one environment without presenting the complete state of the other.
Match the data source to the question
- Trading tools may focus on HyperCore markets, order entry and account activity.
- Portfolio trackers and tax tools vary in how they combine Core trades, deposits and HyperEVM transactions.
- Onchain analytics can cover HyperEVM contracts, HyperCore activity or both; check the stated index.
Avoid mixing Core and EVM assumptions
HyperEVM uses HYPE as its native gas token and accepts standard EVM-style addresses and tooling. HyperCore actions use its native account and order-book systems. Transfers between the two environments follow dedicated mechanisms, so a balance shown in one context may not appear in the other immediately or in the same format.
Before signing or placing an order, confirm whether the interface is acting on HyperCore or HyperEVM, which account is active and which permissions or trading parameters are being submitted.