Q1 2026 was Vela's first live quarter: 17 days of real trades across four assets, starting March 15. We returned −9.9%. Bitcoin fell −7.9% over the same period. We underperformed the benchmark by 2 percentage points.
I'm not going to frame that differently than it is. A negative launch quarter against a falling benchmark is not where we wanted to start. This report exists to show you everything — the wins, the losses, every trade, and what drove each outcome.
Two dynamics defined the quarter. First, the final week of March brought a sharp, correlated selloff across all four assets simultaneously. Seven stop-losses triggered in three days — the kind of compressed drawdown that tests any systematic strategy. Second, our signal engine was still calibrating on live data. Some entries were timed too early into developing moves, and a handful of positions held through adverse price action longer than our target parameters.
What held up: our trailing stop mechanism captured the three largest winning trades of the quarter, including a +2.9% trade on HYPE and a +2.6% ETH position in the final hours of March 31. HYPE was the only asset with a positive win rate (50%) and came closest to flat on the quarter.
What Q2 looks like. We've already adjusted position sizing and entry timing based on what Q1 taught us. Q2 also brings meaningful product expansion: card and bank funding, yield on idle balances, and continued improvements to signal quality. Every quarter we publish a report like this one — wins and losses, unedited.
Thank you for being here in the launch quarter.
| # | Date | Asset | Direction | Duration | Exit | P&L |
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| # | Date | Asset | Direction | Duration | Exit | P&L |
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Win rate shows the proportion of trades that closed positive. Avg P&L is the equal-weighted average return per trade for each asset. Best and worst show the single-trade extremes. Net return is computed as an equal-weighted average across all four assets for the period.
Q2 performance report publishes July 1, 2026. Reports cover every trade, every asset, no omissions. To follow Vela's progress: getvela.xyz · X: @vela_HQ
Vela watches price action, volume, and momentum around the clock. When the evidence lines up — trend, momentum, and market conditions all pointing the same direction — a signal fires. Green means the engine sees a long opportunity. Red means short. Gray means no clear edge, so no trade.
Signals are generated across multiple timeframes, with a 4-hour primary signal and a shorter intraday scan. A market regime filter suppresses entries when broader conditions are unfavorable — this helps avoid trading into strong counter-trend moves.
When a signal fires, Vela opens a position automatically (on Premium) or sends you an alert to approve first (on Standard). Position size is based on a percentage of your account balance. All trades run on Hyperliquid — your funds stay in your own wallet at all times, not held by Vela. Leverage is 1x by default and can be adjusted in your account settings.
Every position has a pre-defined exit. Four things can close a trade:
Net return for the period is an equal-weighted average across all tracked assets. Win rate counts trades that closed with a positive return. The BTC benchmark reflects Bitcoin's spot price change over the same calendar dates.
In Q1 2026, Vela tracked BTC, ETH, SOL, and HYPE. Coverage has since expanded to a broader range of assets across crypto, equities, commodities, and more.
Not Financial Advice. This report is published for informational and transparency purposes only. Nothing in this report constitutes financial advice, investment advice, trading advice, or any other advice. Vela and VelaFi Inc. are not registered investment advisers, brokers, or financial planners. You should consult a qualified financial adviser before making any investment decisions.
Past Performance. Past performance does not guarantee future results. The trading results described in this report reflect actual live trades executed on the Hyperliquid decentralized exchange during the period March 15 – March 31, 2026. These results represent a short, 17-day window and are not indicative of long-term performance. All figures are accurate as of the date of publication.
Risk of Loss. Trading perpetual futures involves substantial risk of loss, including the possible loss of all invested capital. Cryptocurrency markets are highly volatile. Prices can move rapidly against open positions. You should only trade with funds you can afford to lose entirely.
No Guarantee. Vela's signal engine uses algorithmic analysis of price, volume, and momentum indicators. Signals may be wrong. No algorithm eliminates the possibility of loss. Market conditions can change in ways that cause even high-probability setups to fail.
Custody. Vela does not hold user funds. All capital remains in user-controlled wallets on the Hyperliquid protocol. Vela has no ability to withdraw, transfer, or access user funds.
Regulatory Notice. Vela's services may not be available in all jurisdictions. Users are responsible for ensuring compliance with the laws of their local jurisdiction before using Vela's platform.