Risk disclosure
What can go wrong
Copy trading leveraged perpetual futures can cost you your entire balance. This page is the honest version, not the reassuring one.
The short version
You can lose everything in your Hyperliquid account. HyperCopy places leveraged perpetual futures orders on your behalf. Leveraged positions can be liquidated, and liquidation can take your entire account balance. Do not copy with money you cannot afford to lose entirely.
Copy trading does not reduce risk. It transfers the decision of what to trade to someone you have not met, whose strategy you cannot see, who owes you nothing, and who can change what they are doing at any moment without telling you.
Leverage and liquidation
Perpetual futures are traded on margin. A position worth several times your balance can be opened with that balance as collateral, which means a small adverse price move can produce a large loss, and a larger one can close your position at a loss you did not choose — a liquidation.
HyperCopy applies a leverage ceiling that you set, and it clamps the copied trader's leverage down to yours. That ceiling limits how much gearing is applied on your behalf. It does not make a position safe, it does not prevent liquidation, and it does not protect you from a market that gaps through your liquidation price.
You always fill after the trader you copy
HyperCopy reacts to a change in the copied trader's position after that change has already happened. Your order is therefore placed later and filled at a different, usually worse, price than theirs. This gap is structural and cannot be engineered away.
Short-horizon traders copy badly. The faster a trader moves in and out, the larger the share of their edge that the delay consumes. A trader with excellent published numbers can still be unprofitable to copy for this reason alone.
Orders are sent as immediate-or-cancel limits priced through the order book within a slippage budget you set. A tight budget means some orders do not fill at all, leaving you less exposed than the trader you copy; a loose one means you fill at worse prices. Neither setting is free.
The trader you copy owes you nothing
Traders on the leaderboard have not agreed to be copied, are not vetted or endorsed by HyperCopy, and have no obligation or duty to you of any kind. They do not know you are copying them.
- They can change strategy, size, or market without warning.
- They can take positions that are rational for their balance and ruinous for yours.
- They can stop trading, withdraw, or blow up their own account.
- They may be running a strategy whose other legs are not on Hyperliquid at all — a hedge you cannot see and will not copy, leaving you with naked exposure they do not have.
Published performance is historical. Past returns, ROI, win rate and drawdown describe what already happened to someone else's account. They do not predict what will happen to yours.
Technical failure
HyperCopy is software that depends on its own availability, on your network, and on Hyperliquid's API and matching engine. Any of these can fail or slow down.
If HyperCopy stops running, your open positions do not close. They stay open, exactly as they were, and stop tracking the trader you copy. You remain exposed to the market and responsible for those positions.
The engine is designed to converge on a target position rather than replay a stream of events, so a dropped message or a restart corrects itself on the next pass. That makes it resilient to interruption; it does not make it immune to it. Orders can be rejected, delayed, partially filled, or filled at prices you did not expect.
A subscription that fails repeatedly pauses itself rather than continuing to send orders that cannot succeed. While paused, it does not follow the trader at all.
What non-custodial does and does not protect
HyperCopy trades through a Hyperliquid API wallet that you approve. That wallet can place and cancel orders and set leverage. It cannot withdraw or transfer your funds anywhere. This limit is enforced by Hyperliquid, not by us.
- Protects you from: HyperCopy taking your money, and from losing access to your funds if HyperCopy disappears.
- Does not protect you from: trading losses, liquidation, or orders placed on your behalf that lose money. An order that empties your account through losses is an order the API wallet is permitted to place.
You can revoke the API wallet on Hyperliquid at any time, without our cooperation. Copying stops immediately. Revoking does not close your open positions — you must close those yourself.
Costs
Every order placed on your behalf pays Hyperliquid's own trading fees and funding. Because copying rebalances your position whenever the trader you follow changes theirs, copying a frequently-trading account generates more fees than holding a position yourself.
HyperCopy may route orders with a builder code that charges a fee on volume. Where this applies, the fee requires your separate explicit approval, is capped by Hyperliquid, and is disclosed before you approve it.
This is not advice
HyperCopy is execution software. Nothing on this site is investment, financial, legal or tax advice, and nothing on it is a recommendation to copy any particular trader or to trade at all. We are not your broker, adviser or fiduciary, and we do not assess whether copy trading is suitable for you.
Leaderboard rankings are derived from public Hyperliquid data and ordered by the metric you choose. Appearing high in a ranking is not an endorsement.
Perpetual futures trading is restricted or prohibited in some jurisdictions. You are responsible for determining whether you may lawfully use this service where you live.