hyperliquid.assets.perpetual_pnl_by_user view contains one row per user, coin, and collateral token. It sums hyperliquid.assets.perpetual_pnl_daily from coverage_start onward. This is not lifetime PnL: funding before coverage start is not stored.
Collateral amounts always sum. USD columns are null when any contributing day had an unpriced fill or funding event, so gross minus fees plus funding always equals net. net_usd_is_complete is false in that case.
Always filter with
WHERE user = .... User-scoped queries are the supported access pattern.