What does each platform actually cover?

The two products share the word "whale" and little else. CoinGlass is built around exchange-reported derivatives data. Its API page claims 30+ exchanges, 160+ endpoints and history back to 2019, and lists 30 futures venues, 11 spot venues and 4 options venues. Deep Blue Alpha is built around wallets: it reads Ethereum for its tracked whales, and reads the two perpetual markets whose positions are public by wallet.

"Not found" means we looked in CoinGlass's API docs and public product pages on November 5, 2026 and didn't see it. It may exist somewhere we missed.

How do the two Hyperliquid whale trackers differ?

"Hyperliquid whale tracker" is where the two products actually meet. CoinGlass's tracker and its whale position endpoint start from large positions, while our Hyperliquid board starts from a list of accounts. That design choice explains most of what follows, including where ours falls short.

Accounts we miss. We build our Hyperliquid list from Hyperliquid's public leaderboard, so a large account that isn't on the leaderboard isn't on our list, whatever it holds. Anyone who needs large Hyperliquid positions whichever account holds them should use a list built from positions, such as CoinGlass's.

Markets we don't cover. CoinGlass's venue list includes tradeXYZ, a builder market on Hyperliquid. Our board covers main-market perpetuals only and doesn't show builder markets at all.

Accounts we remove on purpose. We leave out accounts whose monthly volume is over 100 times their balance, because those are usually market makers rather than position takers. CoinGlass's whale API docs state no such test, so the two lists can show different accounts for that reason alone.

How the two lists are built

Two lists built this differently won't add up to the same total, because they answer different questions:

Our board held $6.66B across 3,775 positions when read at 12:33 UTC on November 5: 837 positions of $1M or more worth $6.04B, and 2,938 smaller ones worth $617M. So our list goes further down inside large accounts. 305 of our 729 Hyperliquid whales with open positions had nothing as large as $1M, and would not appear on a $1M list at all, though those smaller positions were only 9.3% of our dollars. If you care about what a big account is doing at modest size, that matters. If you care about where the largest dollars sit, it barely does.

CoinGlass's whale alert endpoint documents two actions, open and close. We also record adds and cuts of $100K or more. From the start of tracking on November 4 at 19:18 UTC to 12:33 UTC on November 5, 1,228 of our 1,415 recorded moves, or 87%, were adds and cuts to positions that stayed open. The catch is timing: we compare 5-minute reads, so a position opened and closed between reads never shows up, and our history is only days old.

Where is CoinGlass the better choice?

• You want the whole market. Large exchanges such as Binance don't publish who holds what, so no wallet tracker can see those positions. CoinGlass works from market data across 30+ exchanges instead.
• You read funding, liquidations or options. Funding by exchange, liquidation heatmaps, options max pain and open interest are CoinGlass's core product. We don't offer them.
• You follow ETF flows. CoinGlass covers BTC, ETH, SOL, XRP and HYPE ETFs. We don't.
• You want the most Hyperliquid data for free. Its Hyperliquid tracker was open without logging in when we viewed it on November 5. Ours shows 10 positions logged out, 25 with a free account.
• You need builder markets, funding paid per position, or faster updates. We don't have them.
• You build on market data. Its API has 160+ endpoints and history back to 2019. Our API covers Ethereum whale data, and its docs don't list derivatives endpoints.

Where is Deep Blue Alpha the better choice?

• You follow what whales do on Ethereum. We label each tracked whale's moves as real swaps or exchange moves. CoinGlass's documented whale transfer feed starts at $10M and gives raw sender and receiver rather than a label for what happened.
• You want to see whales without market makers. Accounts whose monthly volume is over 100 times their balance are out of our totals.
• You want GMX. We show 98 GMX whales with $39.1M in 229 positions, as of 12:37 UTC on November 5. GMX wasn't among the venues CoinGlass lists. It is small: under 1% of the dollars on our Hyperliquid board.
• You want a wallet's Ethereum side too. See the next section.

What does linking Ethereum and Hyperliquid wallets actually show?

Hyperliquid accounts use Ethereum-style addresses, so one address can be a whale in both places. We mark these wallets and link their pages. It is the one view we haven't found on CoinGlass, and it is smaller than the pitch suggests:

• 35 of 1,748 listed Hyperliquid whales, about 2%, were also on our Ethereum whale list. None of our GMX whales were.
• 16 of those 35 held open Hyperliquid positions worth $106.5M at 12:33 UTC.
• Over the prior 30 days, leaving out stablecoins, those 35 wallets made 37 real swaps on Ethereum: 12 buys worth $3.4M by 5 wallets and 25 sells worth $2.8M by 4 wallets. They also made 20 exchange withdrawals worth $10.1M by 8 wallets, and no exchange deposits.

So this is a short list to read wallet by wallet, not a market reading. Its use is context: when one of these wallets holds a large long or short, you can open its Ethereum page and see what it has been doing there.

How much of our Ethereum data is real buying and selling?

Less than people expect, so we say so. In the 7 days to 12:48 UTC on November 5, leaving out stablecoins, our tracked whales made:

Real swaps were 7.9% of the dollars. The rest is coins moving on and off exchanges, which is not the same as a purchase or a sale, and we don't call it one. A withdrawal is usually read as the accumulation side and a deposit as the distribution side, but that is a reading, not an observed trade. For more, see exchange inflows and outflows explained.

What do the two cost?

Prices checked November 5, 2026 on CoinGlass API pricing, CoinGlass Prime and our pricing page. CoinGlass also has a charting product, Legend; we could not confirm its price from its public page. Confirm prices on the source before buying.

For a heatmap user, Prime is the cheap, simple choice and we have nothing like it. For an API user who wants Hyperliquid whales, CoinGlass starts at $79 and our API has no derivatives endpoints. Our paid plans are worth comparing only if the Ethereum wallet data is what you want.

What can't Deep Blue Alpha's derivatives data show?

• Large exchanges. Binance and similar venues don't publish who holds what. We only cover markets that do.
• History. Hyperliquid tracking began November 4, 2026, and GMX November 5. We have snapshots, not trends or win rates built on our own record.
• Everyone on Hyperliquid. Large accounts that aren't on the public leaderboard aren't on our list.
• Why a position exists. A short may be a hedge against coins held elsewhere. Neither site can see that, and a position is not a call on price.
• Exact closing profit. It is the last unrealized figure we read, so we show it as approximate.

Which should you use?

The Bottom Line

CoinGlass is the broader product and, for large Hyperliquid positions, the more direct and faster one. If your question is about the derivatives market, it is the right tool and we won't pretend otherwise.

Deep Blue Alpha answers a narrower question: what specific wallets did. That means Ethereum swaps and exchange moves labeled by what they were, GMX whales, Hyperliquid whales with market makers removed, and a short list of wallets seen on both sides. If that is what you are looking for, it is worth a look next to CoinGlass rather than instead of it.

Related reading

How Whales Use Options and Derivatives

Deribit, GMX, put/call ratios and past liquidation cascades.

Hyperliquid and Ethereum Whale Bridge Flows

How money moves between the two chains.

Deep Blue Alpha vs Glassnode

Wallet tracking compared with market-wide on-chain metrics.

Deep Blue Alpha vs CryptoQuant

Ethereum wallets compared with Bitcoin exchange flow data.

Deep Blue Alpha vs Nansen

Two wallet-level tools at very different prices.

Exchange Inflows and Outflows Explained

What deposits and withdrawals can and can't tell you.

Derivatives board → Hyperliquid whale ranking → Live whale feed → All comparisons →