Bybit has one of the largest copy-trading programmes among centralised exchanges. Hypercopy copies traders on hyperliquid, a decentralised perps exchange. The difference is not a detail: it changes who holds your money, who can be a leader, what the leader is paid, and what you can verify. Numbers below are from bybit's help centre at the time of writing; check bybit's pages for current terms.
side by side
| bybit copy trading | hypercopy | |
|---|---|---|
| venue | bybit, centralised | hyperliquid, on-chain order book |
| custody | bybit holds your funds | your own hyperliquid account |
| identity | kyc level 1 required | none: a wallet |
| leaders | master traders bybit approved | any hyperliquid trader passing hypercopy's copyability filters |
| leader's record | bybit's own figures | public on-chain, verifiable by anyone |
| leader compensation | profit share, 10 to 15% on classic tiers, up to 30% on pro, per bybit's help centre | none |
| your cost | profit share + bybit trading fees | 0.05% builder fee per order + hyperliquid fees (0.045% taker base) |
| sizing | fixed amount or ratio per master | pro rata of your capital (default), fixed $ or % per trade |
| stop-loss | per copy | per copy |
| interface | bybit app and web | telegram bot |
| markets | bybit perps (and spot, tradfi products) | hyperliquid core perps and spot |
custody and identity
On bybit, your USDT sits in bybit's wallets and you trade an IOU. Copy trading there requires identity verification. Withdrawal limits, regional restrictions and account freezes are bybit's decisions.
On hyperliquid, your USDC sits in an account controlled by your wallet. Hypercopy trades it through an agent key that cannot withdraw; you can revoke it on hyperliquid at any time. There is no sign-up and no kyc, on hyperliquid or on hypercopy. See is copy trading on hyperliquid safe.
who you can copy, and what they earn
Bybit's masters apply and are approved. Their compensation is a share of your profits: 10% to 15% on the classic programme depending on tier, and on copy trading pro the master sets a rate up to 30%. That aligns incentives on good months and costs you nothing on bad ones, but it also means a master's income depends on the number of followers, which rewards marketing as much as trading.
On hypercopy, leaders do not know they are being copied. They are hyperliquid traders whose fills are public; hypercopy filters them for size, human trading patterns and copyability, and you pick. Nobody is paid a profit share. Hypercopy charges a flat 0.05% builder fee per order instead. See fees and pricing.
verifying the record
Bybit shows you a master's ROI, win rate and drawdown computed by bybit. On hyperliquid, every fill of every account is public. Hypercopy's profile numbers (30d PnL and ROI, median hold, trades per day, max drawdown) are computed from that public data and you can check any of them on a block explorer.
execution
Both mirror the leader's orders into your account. Bybit's execution is inside its own matching engine. Hypercopy reads hyperliquid's public trade feed, sends an immediate-or-cancel order at mid ±1%, and uses reduce-only for exits. On a fast market a hypercopy order can miss; on bybit a copy can be delayed too, but you will not see how.
where bybit still wins
Fiat on-ramps, a mobile app with a polished copy-trading tab, spot and tradfi copy products, customer support with a ticket system, and a much larger pool of approved masters with long tracked histories. If you already keep funds on bybit and want the simplest possible experience, it is a reasonable choice.
where hypercopy wins
Custody, no kyc, verifiable records, no profit share, and a leader pool that is every serious hyperliquid trader rather than those who applied. And it lives in telegram, so the copied fills reach you where you already are.
faq
is copy trading on a dex riskier than on bybit?
Different risks. A dex removes exchange custody and account-freeze risk and adds smart-contract and execution risk. Both have leverage risk, which is the one that actually loses money.
can i copy the same trader on both?
Only if they trade on both venues, and their records will differ. Hyperliquid's leaderboard is a different population from bybit's masters.
does hypercopy have a profit share option?
No. The only fee is the builder fee per order.
copy hyperliquid's best, from telegram.
pick a trader, set your size. hypercopy trades with a key that can never withdraw, and you can stop at any time.
start copying