- BitMEX launched Hyperliquid Copy Trading, letting users mirror top traders.
- Users can copy up to five top traders simultaneously with the new feature.
- 100,000 USDT prize pool will be provided for early participants.
BitMEX, a prominent crypto exchange, has taken another major step to make digital asset trading easier and more accessible for users. In the latest development, the exchange launched the Hyperliquid Copy Trading, partnering with Hyperliquid.
This new feature allows users to automatically follow and replicate the strategies of the top traders on Hyperliquid, one of the leading decentralized perpetual exchanges. By combining the expertise of elite traders with the safety and user-friendly interface of BitMEX, even less experienced traders can participate confidently in the market.
Unveiling BitMEX’s New Feature
BitMEX has reportedly announced the launch of Hyperliquid Copy Trading. This launch comes in collaboration with Hyperliquid, a leading decentralized perpetual exchange.
With this strategic collaboration, users will be allowed to automatically copy the trading strategies of the top traders of Hyperliquid. It gives traders the best of both platforms. Combining the expertise of Hyperliquid’s top performers with the ease of use and security on BitMEX, users are open to new opportunities.
This update is a major step forward for BitMEX’s Copy Trading feature. It already allows users to mirror the trades of elite traders. Now, anyone can access these smart trading strategies without worrying about the risks of DeFi. The new feature intends to make trading easier for all, regardless of their experience in the space. BitMEX CEO Stephan Lutz stated,
“BitMEX pioneered the perpetual swap, which has since become the industry standard for futures trading. The launch of Hyperliquid Copy Trading completes the circle, bringing the alpha available on the world’s leading PerpDEX to BitMEX users and incorporating it into their existing workflow.”
How Hyperliquid Copy Trading Works
Notably, Hyperliquid is a major player in the decentralized perpetual exchange (PerpDEX) market. It holds over 60% of all open positions. It mixes features of futures contracts with the flexibility of spot trading. Thus, the platform allows traders to speculate on asset prices without worrying about contract expiration dates.
Via this collaboration with BitMEX, Hyperliquid offers the Hyperliquid tab in the Copy Trading Marketplace. Users can find the list of top Hyperliquid traders that you can copy- or even reverse copy. Trades are automatically executed on BitMEX, following the strategy of the chosen trader. Each trader will be ranked based on key metrics like profit and loss (PnL), drawdown, win rate, and assets under management. This makes it easier for users to choose the most successful trader to follow.
It is worth noting that this development comes hot on the heels of Hyperliquid’s integration with Ripple. As Times of Blockchain reported yesterday, Ripple joined hands with Ripple to expand DeFi access for users
How Users Earn Rewards
With BitMEX’s Copy Trading, users can copy up to five Hyperliquid traders at a single time. They can also set their own risk preferences for each trader, like Take Profit and Stop Loss levels. By picking the right Copy Leader, users can automate their crypto derivatives trading and make smarter trading decisions.
To mark the launch, BitMEX is offering a 100,000 USDT prize pool for eligible users who use Copy Trading on the platform. In addition, extra guides and educational resources will also be provided on the platform website.
