Use the links to jump to a section. Perps words (long, short, leverage, liquidation, funding, margin) live in the perps glossary. Guides for each topic: copy trading, Telegram trading bots, prediction markets.
What do the copy trading words mean?
These are the terms you meet when choosing and following a trader. Each one is explained in one or two sentences, with an example where it helps.
Copy trading
Your account automatically repeats the trades of a trader you choose, at an amount you set. Also written copytrading or copy trade. Guide: what is copy trading?.
Copy trader
Either the person who copies (the follower) or, on some platforms, the person being copied. On CopyHype, you are the copier and the trader you follow is a whale.
Lead trader
On exchange copy trading platforms, a trader who signs up to be copied, usually in exchange for a share of followers' profits.
Mirror trading
Originally, copying an automated strategy rather than a person. Today many apps use it as another word for copy trading. See copy vs mirror vs social trading.
Social trading
Seeing, discussing and following other traders in a feed or community, with or without automatic copying.
Whale
A trader with a very large account. On CopyHype, the ⚡ Perps whale lists show the top 8 traders by profit over 24 hours, 7 days and 30 days on Hyperliquid's leaderboard, among those who traded in the last 24 hours. The 🔮 Predictions lists rank traders by the profit of their public bets, after fees.
Smart money
Wallets with a strong, repeated record, as opposed to wallets that are merely big. See smart money copy trading.
Whale tracker
A tool or bot that watches large wallets and shows or alerts their trades. It informs; it does not trade for you. See Hyperliquid whale tracker.
Leaderboard
A ranking of traders by profit, ROI or volume over a period. Hyperliquid publishes one for a day, a week, a month and all time. See the Hyperliquid leaderboard, explained.
ROI
Return on investment: profit divided by the money behind it. Making $5,000 on a $50,000 account is a 10% ROI. ROI compares traders of different sizes fairly; raw profit does not.
Win rate
The share of trades that closed in profit. 6 winners out of 10 is 60%. A high win rate with small wins and big losses can still lose money.
Drawdown
How far an account fell from its peak before recovering. An account that went from $100,000 to $70,000 had a 30% drawdown.
Scalper
A trader who opens and closes in seconds or minutes. Copies of scalpers usually arrive after the move, so they rarely copy well.
Market maker
A trader who posts buy and sell orders all day to earn the gap between them and exchange rebates. Their profit comes from order flow a copy cannot reproduce.
Copy delay
The time between the trader's trade and your copy, usually seconds. Also called latency. The longer the trader holds, the less the delay matters.
Slippage
The difference between the price you expected and the price you got. A copy that fills at $100,040 when the trader got $100,000 has 0.04% slippage.
Chasing
Entering after the price already moved a lot in the trader's direction, which makes your trade worse than theirs. Good copy tools skip trades that would chase.
Fixed amount
A sizing method where every copy uses the same amount, for example $10, whatever size the trader uses. CopyHype works this way, from $5 a trade. See position sizing.
Proportional sizing
A sizing method where your copy takes the same share of your account as the trader's trade takes of theirs.
Copy ratio
A sizing method where your copy is a fixed fraction of the trader's size, for example 1/10,000.
Profit share
A fee taken as a percentage of your net profit, often paid to the lead trader. For example, BitMEX's Hyperliquid leaders charge 15%. See copy trading fees.
High-water mark
A rule that charges profit share only on new highs, so you do not pay twice for winning back a loss.
Per-trade fee
A fee charged on each trade, win or lose. CopyHype charges 0.1% of the position when a trade opens and 0.1% when it closes, plus Hyperliquid's fee.
Vault
A pool of money that one leader trades for all depositors. On Hyperliquid's original vaults, the leader takes 10% of profits. See copy trading vs vaults.
Signal group
A channel where someone posts trade ideas for members to place by hand. See copy trading vs signal groups.
Paper trading
Trading with practice money on real prices to learn without risk. Also called a demo account or practice. CopyHype gives $1,000 of practice money as a free 24-hour trial, plus 24 hours for each invited friend whose first trade opens.
Copy simulation
Replaying a trader's past trades the way a copier would have received them, with delay and fees, to see whether copies would have made money. CopyHype shows real copies instead: the Copiers line on each whale's page says how many copies closed, how many won and the average result.
What do the wallet and bot words mean?
These are the terms behind Telegram trading bots and who controls your money.
Telegram bot
A program you talk to in a Telegram chat. A trading bot places orders on an exchange for you. TG bot is the short form.
Telegram Mini App
A full app screen that opens inside Telegram, with nothing to install. CopyHype is a Mini App opened from @copyhypefamilybot.
Custodial
A setup where a company holds your money. If it is hacked, frozen or dishonest, your funds are at risk.
Non-custodial
A setup where you hold your own wallet and only you can withdraw. CopyHype's real money wallet is non-custodial.
Private key
The secret that controls a wallet. Whoever has it can move the money. Never share it.
Seed phrase
A list of words that can rebuild a wallet's private key. No real bot or support agent will ever ask for it.
API wallet
On Hyperliquid, a separate key your wallet authorizes to sign trades for your account. It cannot withdraw or transfer funds. Also called an agent wallet. See Hyperliquid API wallets explained.
Builder fee
A fee an app adds to the Hyperliquid orders it sends for you, approved by your wallet in advance. Capped at 0.1% on perps.
Revoke
To cancel a permission you gave, such as an app's trading key. After revoking, the app can no longer trade for you.
Drainer
A scam link that asks you to sign a message which gives the scammer permission to move your funds. See Telegram trading bot scams.
USDC on Arbitrum One
The coin and network used to fund Hyperliquid. Sending another coin or network to a Hyperliquid deposit address can lose the money.
What do the prediction market words mean?
These are the terms you meet on Polymarket, Kalshi and Hyperliquid's outcome markets. Predictions are live in CopyHype.
Prediction market
A market of Yes and No shares on real questions that pay $1 if right and $0 if wrong. See what are prediction markets?.
Event contract
The formal name, common in the United States, for a share that pays a fixed amount if an event happens. Kalshi lists event contracts.
Binary option
A contract that pays a fixed amount if a price ends above or below a level. Retail versions were often sold by brokers who took the other side. See event contracts vs binary options.
Outcome
Hyperliquid's name for a prediction market contract, created by HIP-4. It settles to 0 or 1 in USDC.
Implied probability
The chance a price implies. A Yes share at $0.40 implies 40%.
Payout multiplier
What a winning share returns per dollar: 1 divided by the price. Yes at $0.40 pays x2.5.
Resolution
The moment a market's result is decided and shares become worth $1 or $0. Also called settlement.
Oracle
The source or system that posts a market's result. Polymarket uses the UMA Optimistic Oracle; Hyperliquid uses an authorized oracle and, for price markets, its own mark price.
Order book depth
How much can be bought or sold near the current price. On a thin book, your own order moves the price.
Parlay
Several picks combined into one bet that wins only if all win. Hyperliquid's outcome markets do not offer parlays. See can you parlay on Hyperliquid?.
Frequently asked questions
What is the most important copy trading word to understand?
ROI, together with drawdown. ROI tells you how well a trader uses their money; drawdown tells you how bad the bad weeks get.
Where are leverage and liquidation explained?
In the perps glossary, along with margin, funding and the other perps words.
What is the difference between custodial and non-custodial?
Custodial means a company holds your money. Non-custodial means you hold your own wallet and only you can withdraw.
More in the docs
- CopyHype docsHow CopyHype copies the best Hyperliquid traders in Telegram: start in 3 taps, how copies open and close, Let it ride, max loss, wallets and fees.
- Perps for beginnersLearn perps from zero: perpetual futures, leverage, liquidation, margin, funding and fees, then trade or copy the best Hyperliquid traders.
- How whales are pickedHow CopyHype picks Hyperliquid whales: Hyperliquid's leaderboard, top 8 by profit or ROI over 24h, 7 and 30 days, among traders active in the last 24h.
- Wallets, deposits and withdrawalsYour CopyHype wallet is yours: set it up in Telegram, add money by card, USDT or USDC, move it into Hyperliquid, withdraw, export your key.
- Perps glossaryEvery perps and Hyperliquid term in one or two plain sentences: leverage, margin, liquidation, funding, mark price, HIP-3, HIP-4 outcomes and more.
- CopyHype feesEvery CopyHype fee with worked examples: 0.1% of the position each way, plus Hyperliquid's 0.045% or 0.09% on stocks, gold and indices.
- Predictions in CopyHypeBet Yes or No on sports, crypto prices, rates and news in CopyHype, on Hyperliquid's outcome markets. From $10 a bet, sell any time before the result.
- Predictions 101: prediction markets for beginnersPrediction markets from zero: Yes and No prices as chances, Hyperliquid HIP-4, a $10 example, selling early, fees, and copying the best prediction traders.
- Copy trading: the complete guideCopy trading from zero: how it works, who to copy, how much to start with, fees, risks and honest comparisons. Every guide in one place, in order.
- Hyperliquid: the complete guideHyperliquid from zero: deposits, fees, leverage, whales, meme coin perps, HIP-3 stocks and gold, HIP-4 outcomes, and trading it from Telegram.
- Prediction markets: the complete guidePrediction markets from zero: Yes and No shares, odds as chances, payouts, fees, Hyperliquid outcomes (HIP-4), Polymarket and Kalshi, and the risks.
- Telegram trading bots: the complete guideTelegram trading bots and Mini Apps explained: how they work, who holds the keys, copy trading bots, Hyperliquid bots, fees, scams and safety checks.