Copy trading on Hyperliquid: vaults, following whales and why blind copying fails
Everything on Hyperliquid is on-chain: every position, entry price, liquidation price and trade of every address is public. That makes it the best place to learn from large traders — and a tempting place to copy them. There are two ways to do it, and one trap that costs most copy traders their money.
Way 1: vaults
A vault is a pool where a trader (the leader) trades with depositors’ money. You deposit USDC, the leader’s positions are yours in proportion to your share, and the leader takes 10% of the profit.
- The leader must keep at least 5% of the vault, so their own money is at risk too.
- Deposits are locked for 1 day; after that you can withdraw at any time at the current value.
- Vaults trade regular Hyperliquid perps only — no spot and no HIP-3 markets such as stocks.
- HLP, the community vault of the exchange, has no profit share and a 4-day lock-up. Its numbers are on the HLP page.
Judge a vault by its history, not by the last month: how deep its drawdowns were, how long it has existed and how much of the vault the leader holds.
Way 2: follow whale wallets
Instead of handing over money you can watch large traders and make your own decisions. HyperScan tracks every address with $10M+ in positions: the whales list shows what they hold, each wallet page shows positions, history and closed-trade results, and you can add any address to your watchlist to get its opens, closes and liquidations on the site and in Telegram — free.
Whales that are in profit both this month and over all time right now, with at least 10 closed trades:
| Whale | Balance | PnL 30 days | PnL all time | Win rate |
|---|---|---|---|---|
| 0x7737…bf66 | $3.04M | +$8.07M | +$56.88M | 27% |
| x.com/SilkBtc | $1.46M | +$7.07M | +$121.65M | 80% |
| 0x7a6d…f79c | $2.55M | +$2.49M | +$15.75M | 62% |
| 0x13da…08be | $623.1K | +$2.28M | +$1.25M | 63% |
| 0x58b2…11f3 | $1.17M | +$2.25M | +$1.43M | 64% |
| 0x77ee…a018 | $2.39M | +$2.22M | +$343.5K | 76% |
| 0xaeaa…2416 | $1.83M | +$1.74M | +$7.59M | 30% |
| 0x541e…071d | $1.79M | +$1.41M | +$1.93M | 53% |
Live data from Hyperliquid, updated every few minutes.
How to pick a trader worth following
- Directional, not a market maker. Market makers and hedgers hold large positions that say nothing about where the price is going. HyperScan labels each wallet’s type.
- A long record. Profit over months and many closed trades, not one lucky bet. A high win rate with tiny wins and rare huge losses is a warning sign.
- Leverage you can live with. A trader at 40x can survive a drawdown that liquidates a copier who enters later at a worse price.
- Size relative to the market. A whale’s buy can move a thin market; copying it after the move means buying the top.
Why blind copying fails
- You are always late. By the time you see a trade, the price has already moved — especially after large market orders.
- You see a position, not the strategy. A short may be a hedge against spot holdings elsewhere; copying it alone is a naked bet.
- Exits matter more than entries. Traders scale out, add and flip. Copying only the opening misses most of the result.
- Different risk. The whale’s position may be 2% of their account and 50% of yours.
That is why aggregated signals are often more useful than one wallet: when most directional whales agree on a coin, HyperScan shows it as whale consensus; when they rush in with market orders, it shows up among large orders. None of this is investment advice — it is information to trade with your own judgement.