Question 1

Is FKA - FK Capital Alpha Fund a good Hyperliquid vault to copy?

Accepted Answer

Blacklight's verdict is 'Avoid'. Risk score 74/100, max drawdown 61%, Sharpe -0.7. It does NOT clear our bar for being worth copying — see the risk and operator figures before depositing.

Question 2

What is FKA - FK Capital Alpha Fund's return and TVL?

Accepted Answer

As of 2026-10-04: 65% 30-day APR, $310k total value locked.

Question 3

How risky is FKA - FK Capital Alpha Fund?

Accepted Answer

Risk score 74/100. Worst historical drawdown 61%. Sharpe (return per unit of swing) -0.7.

Question 4

Who runs FKA - FK Capital Alpha Fund?

Accepted Answer

Operator 0xfd13e2cb66d9e06a645f371a8931a62877ef4831, keeping 6.3% of the vault in their own money and taking 10% commission on profits.

Vault address	0x4a01f1097a03495ac0054a845c991d9749f81a00
Operator	0xfd13e2cb66d9e06a645f371a8931a62877ef4831

Verdict	Avoid
30-day APR	65%
TVL	$310k
Risk score	74/100
Max drawdown	61%
Sharpe	-0.7
Operator own money	6.3%
Commission	10%
Depositors	24