1. Concepts
Copy trading means you watch Hyperliquid wallet addresses. When they open a position, you mirror it through Gunbot on your exchange — Binance, Bybit, and others.
Hyperliquid is a decentralised perps exchange. All wallet trades are public — no special access or API keys are required to read them.
The tool uses WebSocket — a persistent live connection — not polling. Position changes are detected near-instantly rather than on a fixed schedule.
This tool does NOT trade on Hyperliquid. It only reads Hyperliquid to know what wallets are doing, then sends instructions to Gunbot on your exchange.
Start with Paper Mode
Always start with Paper Mode on. Paper Mode logs all signals but sends no orders to Gunbot. Validate your wallet selection and gate rules before risking real money.
2. Dashboard Tab
WebSocket Status
| Status | Colour | Meaning |
|---|
| connected | Green | Live — receiving wallet events in real time |
| connecting | Amber | Establishing connection — wait a moment |
| disconnected | Red | Connection lost — reconnecting automatically |
Stats Panel
| Stat | What it shows |
|---|
| Active Wallets | Number of enabled wallets currently being watched |
| Today's Signals | Signals generated since midnight |
| Executed | Signals successfully sent to Gunbot |
| Gated | Signals blocked by an entry or exit gate |
| Open Positions | Positions currently held |
| Daily Realized P&L | Closed position P&L since midnight |
The main ON/OFF switch enables or disables the copy engine globally. The recent signal feed shows the last 10 signals with status badges.
3. Wallets Tab
To add a wallet, paste a Hyperliquid 0x address and give it an alias. Per-wallet settings are configured individually.
Per-wallet Settings
| Setting | What it does | Default |
|---|
| Alias | Friendly name shown in the log | address |
| Enabled | Whether this wallet is actively watched | On |
| Scaling Mode | How to size your mirrored trades | fixed_usd |
| Scaling Value | The size amount for the chosen mode | 50 |
| Directions | Which trade types to copy | Open Long only |
Scaling Modes
| Mode | Meaning | Example |
|---|
fixed_usd | Always trade exactly $X | 50 = always $50 |
fixed_base | Always trade exactly N coins | 0.001 = always 0.001 BTC |
pct_balance | X% of your available balance | 5 = 5% of balance |
proportional | Match wallet's position size proportionally | 10 = trade 1/10th their size |
Directions
| Direction | What it copies |
|---|
| Open Long | Wallet buys you buy |
| Open Short | Wallet shorts you sell |
| Close Long | Wallet exits a long you sell |
| Close Short | Wallet exits a short you buy |
Short Directions Require Exchange Support
Open Short and Close Short require your exchange and Gunbot to support short selling. If not configured for shorting, leave these directions disabled.
The Score button runs 30-day analytics on the wallet and assigns a 0–100 score. Requires at least 5 closed trades. Shows N/A if insufficient history.
4. Discover Tab
Search the Hyperliquid leaderboard for wallet addresses without leaving the app. The preview panel shows:
| Field | What it shows |
|---|
netPnl | Total profit/loss across all trades |
winRate | Percentage of trades that closed in profit |
totalTrades | Number of closed trades |
avgTradesPerDay | Trading frequency |
coinBreakdown | P&L split by coin |
Use the Add to Wallets button to add a discovered wallet directly from the Discover panel without copying and pasting the address manually.
Leaderboard Caching
Leaderboard data is cached for 5 minutes. It is not a live view — very recent trades may not appear immediately.
5. Analytics Tab
Full Metrics
| Metric | What it means | Good value |
|---|
| Net PnL | Total profit after fees | Positive |
| Win Rate | % of trades profitable | >55% |
| Profit Factor | Gross wins gross losses | >1.5 |
| Expected Value | Average profit per trade | Positive |
| Max Drawdown | Worst peak-to-trough loss | As low as possible |
| Avg Trades/Day | Trading frequency | Depends on strategy |
| Longest Win Streak | Most consecutive wins | Higher = more consistent |
| Longest Loss Streak | Most consecutive losses | Lower = more resilient |
| Long/Short Split | Directional bias breakdown | — |
| Coin Breakdown | P&L by coin | — |
| Best Trade | Most profitable single trade | — |
| Worst Trade | Biggest single loss | — |
Score Grades
| Grade | Score | Recommendation |
|---|
| A+ | 85–100 | Elite — copy live with full sizing |
| A | 70–84 | Strong — copy with position limits |
| B | 55–69 | Decent — paper mode first |
| C | 40–54 | Marginal — research more |
| D | 25–39 | Poor — do not copy |
| F | 0–24 | Loss-making — avoid |
Score formula: weighted mix of win rate (50%), profit factor contribution (capped), and trade frequency contribution (capped). Minimum 5 closed trades required.
Monthly Heatmap
The daily P&L grid shows green for profitable days and red for losing days. Hover any cell for exact values. Patterns like "always loses on Fridays" become visible at a glance.
6. Config — Connection
| Setting | Default | Notes |
|---|
| Gunbot URL | http://localhost:5000 | Note: port 5000, not 3001 |
| Gunbot Token | (empty) | Required for live trading |
| Testnet | Off | Use Hyperliquid testnet for wallet data — safe for testing |
Port 5000 — Not 3001
This server uses Gunbot port 5000 by default, not 3001. If your Gunbot runs on 3001, update this setting to match.
7. Config — Pair Mapping
Pair mapping translates Hyperliquid coin names to Gunbot pair names. When a wallet trades BTC on Hyperliquid, the tool looks up BTC in this map and uses the configured exchange and pair to place the mirrored order.
Default Pairs
| HL Coin | Exchange | Gunbot Pair | Default |
|---|
BTC | binance | USDT-BTC | Enabled |
ETH | binance | USDT-ETH | Enabled |
SOL | binance | USDT-SOL | Enabled |
BNB | binance | USDT-BNB | Disabled |
AVAX | binance | USDT-AVAX | Disabled |
ARB | binance | USDT-ARB | Disabled |
| …and 10 more disabled by default | Disabled |
If a wallet trades a coin that is disabled or not in the map, that signal is logged as skipped.
8. Config — Order & Gates
Order Settings
| Setting | Default | Notes |
|---|
| Order Type | market | Only option currently |
| Cooldown (ms) | 5000 | Minimum ms between orders |
| Max Orders/Min | 10 | Hard rate limit |
| Paper Mode | Off | On = log only, no orders sent |
| Consensus Mode | Off | Requires N wallets to agree before executing |
| Consensus Threshold | 2 | How many wallets must agree |
Entry Gates
| Gate | Default | What it does |
|---|
| Min Wallet Score | 0 (off) | Skip wallets below this score |
| Min Win Rate | 0 (off) | Skip wallets below this win rate % |
| Min Profit Factor | 0 (off) | Skip wallets below this profit factor |
| Max Open Per Coin | 1 | Max concurrent positions per coin |
| Funding Rate Gate | Off | Skip if funding rate is above threshold |
| Funding Rate Threshold | 0.05% | Max acceptable funding rate |
Exit Gates
| Gate | Default | What it does |
|---|
| Take Profit % | 0 (off) | Close position when profit reaches X% |
| Stop Loss % | 0 (off) | Close if loss reaches X% |
| Trailing Stop % | 0 (off) | Trail from peak, close if drops X% |
| Trailing Stop Arm % | 0 (off) | Only arm trailing stop after X% profit |
| Max Hold Hours | 0 (off) | Force close after N hours |
| Min Hold Minutes | 0 (off) | Don't close for at least N minutes |
| Daily Loss Limit | 0 (off) | Halt for the day after losing $X total |
| Max Positions | 0 (off) | Max simultaneous open positions |
9. Log Tab
Every signal event shows: timestamp, wallet alias, coin, direction, price, size, and a status badge.
| Status | Meaning |
|---|
| executed | Order sent to Gunbot successfully |
| paper | Paper mode — logged but not executed |
| pending | Consensus mode — waiting for more wallets to agree |
| gated | Blocked by an entry or exit gate |
| skipped | Coin not in pair map, or direction not enabled |
| error | Gunbot returned an error when the order was submitted |
10. Testing Guide
- Turn Paper Mode ON before doing anything else (Config tab)
- Add one Hyperliquid wallet — use a public active wallet from the leaderboard
- Enable the copy engine (Dashboard main ON switch)
- Watch the WebSocket status dot — should turn green within 10–15 seconds
- Wait for a fill event from the wallet — should appear in Log with status paper
- Check Analytics after 5+ fills — Score button should return a 0–100 number
- Use Discover tab — search the leaderboard, verify stats load for a wallet
- Use the test fill tool (Config Test Fill): enter wallet address, coin "BTC", direction "Open Long", price and size
- Verify the test fill appears in the Log as paper
- Check coin breakdown in Analytics — should show the test coin
- When paper testing looks correct, turn Paper Mode OFF
- Set Scaling Mode to
fixed_usd with Value = 10 (minimum $10) for your first live test
11. Known Limitations
| Limitation | Detail |
|---|
| Internet required | Connects to Hyperliquid public API — needs an active internet connection |
| MARKET orders only | Limit orders not supported in this version |
| Short directions require exchange support | Open Short / Close Short disabled by default; only enable if Gunbot + exchange support shorting |
| Score requires 5+ trades | Wallets with fewer than 5 closed fills show N/A score |
| 1,000 log entries | Older entries drop automatically when the limit is reached |
| Leaderboard is 5-minute cached | Not live — recent trades may not appear immediately |
| Gunbot port is 5000 | Unlike other tools that default to 3001 |
12. Troubleshooting
| Symptom | Cause | Fix |
|---|
| WebSocket stays "connecting" |
No internet / Hyperliquid API down |
Check internet; if testnet mode is on accidentally, turn it off |
| Score button shows N/A |
Fewer than 5 closed trades in the analysis window |
Use a more active wallet, or extend the analysis window |
| Signals logged as "skipped" |
Coin not in pair map or direction disabled |
Enable the coin in pair mapping, or enable the direction |
| Orders not executing |
Paper Mode is on, or Gunbot token is wrong |
Check Paper Mode; re-enter Gunbot token; verify Gunbot is running on port 5000 |
| WebSocket disconnects frequently |
Network instability |
Tool reconnects automatically; check your internet connection |
13. Bug Report
Include all of the following when reporting a bug. The more detail you provide, the faster it can be diagnosed.
- Tool: HL Copy Trading (:8082)
- Step-by-step description of what you did
- Expected vs actual behaviour
- The wallet address you were testing with (Hyperliquid 0x address)
- Paper Mode state at the time (on or off)
- WebSocket status at the time (connected / disconnected)
- Log entry — the full expanded detail for the signal that failed
- Health check JSON from http://localhost:8082/health
- Screenshot of Dashboard and Log tab
- Browser and OS version