BitMEX has launched a copy-trading feature for Hyperliquid, allowing even novice users to copy the trades of top traders on the platform. This means all users will have access to clear and accurate information about the actions of expert traders.
BitMEX’s new feature allows users to copy up to five Hyperliquid traders simultaneously. Followers can choose to exactly replicate the trades of their chosen trader or invert them, introducing an additional degree of strategic flexibility based on each user’s market analysis.
To facilitate the evaluation of leading traders, BitMEX displays detailed performance metrics in a dedicated Copy Trading Details view. Available indicators include P&L, drawdown, win rate, and assets under management, aiming to provide greater transparency before capital allocation.
A distinctive design element is the incorporation of individual risk controls for each copied trader. Instead of passively accepting the leader’s settings, followers can define their own stop-loss and take-profit levels for each copy relationship, thus maintaining greater control over their exposure.
With this feature, BitMEX aims to capture the activity generated on Hyperliquid, combining on-chain execution with risk management and analytics tools typical of a centralized exchange.
BitMEX’s incentive strategy for its users
BitMEX presented the launch as a strategic step to integrate “decentralized alpha” into its ecosystem. “It completes the circle by bringing the alpha of the world’s leading Perp DEX to BitMEX users,” stated Stephan Lutz, CEO of the company.
To accelerate adoption, the platform introduced promotional incentives tied to the launch. These include a 100,000 USDT prize pool, up to $100 in loss coverage for the first copied trade, 10% cashback on initial deposits from DEX wallets, and welcome offers that can total up to $5,050. The goal is to reduce initial friction and attract native DeFi liquidity.
However, BitMEX and market analysts highlighted several structural risks. These include the potential for strategic drift or underperformance of copied traders, “black box” exposure for passive followers who don’t fully understand the leader’s decisions, and the risk of rapid liquidations associated with Hyperliquid’s high leverage.
From a broader perspective, the feature is designed to redirect a significant portion of Hyperliquid’s activity to the BitMEX interface, combining on-chain order books with centralized controls.
