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Altcopy

Independent guide to Hyperliquid vaults. We rank the native vaults on an open leaderboard and run our own — Flagship and Index — on HyperEVM. Honest analysis, no hype, no paid placement.

📍 Dubai / London

You enter the trades, or you inherit the portfolio — why a vault isn't a quick flip

Copy trading lets you enter trades near the leader's entry points. A vault drops you into a portfolio already in motion — positions mid-flight, maybe past their best. That's why you shouldn't flip a vault: hold long enough to capture a representative slice of the strategy, not a random snapshot.

DEX by DEX, part 6 — Aster and the copy-trading frontier

Every venue so far offered vaults — pooled money. But copy trading proper, where your own account mirrors a trader's moves, has been a CEX feature. Aster is bringing it on-chain. The finale of the series, and the full map.

DEX by DEX, part 5 — Aevo: the options vault, a different animal

Aevo's vaults aren't about following a trader or being the perp house — they sell options to earn premium. That's a third category, and it comes with a hidden shape: short convexity. Smooth income, until it isn't.

DEX by DEX, part 4 — Jupiter's JLP: the biggest house pool of all

Jupiter is Solana's giant, and its JLP pool is the largest 'be the house' vault in DeFi — ~$1.3B earning 75% of trading fees. Big, battle-tested, and still the opposite of following a trader. With the delta-neutral wrinkle explained.

DEX by DEX, part 3 — dYdX MegaVault: the former leader's answer

dYdX once led decentralized perps. Its vault product, MegaVault, is a pooled, market-maker-driven yield engine — closer to Hyperliquid's HLP than to a follow-a-trader vault. Here's how it stacks up.

DEX by DEX, part 2 — GMX & Gains: when a vault means becoming the house

On GMX and Gains Network, putting money in a vault doesn't mean following a trader — it means becoming the casino. Here's how the house model works, the risk inversion nobody warns you about, and how it compares to Hyperliquid's HLP.

DEX by DEX, part 1 — Drift: Hyperliquid's closest rival, and a $285M lesson

A venue-by-venue tour of how each DEX handles vaults and copy trading. We start with Drift — the only place besides Hyperliquid where you can truly follow a trader on-chain — and the $285M hack that taught the whole space a lesson.

The S&P 500 of Hyperliquid vaults? What our Index borrows — and what it doesn't

Call the Altcopy Index “the S&P 500 of vaults” and you'd be half right — the index idea carries over, the safety doesn't. Measured against the S&P, the Nasdaq-100, and a hedge fund-of-funds, here's what our Index really is — and the two things it does better than any of them.

New, but evolving at light speed: Hyperliquid's milestones — and the piece we're adding

Hyperliquid is barely two years old but has sprinted through mainnet, the HYPE airdrop, dominance, and now programmable HyperEVM vaults. Every maturing market eventually grows an index layer — and that's the missing piece we're building: the Altcopy Index.

Taxes on a DEX: no KYC, no forms — and still 100% your job

On a CEX, the exchange tracks and reports your gains. On Hyperliquid and other DEXs, nobody does — which doesn't mean tax-free. It means the whole responsibility is yours. How wallet-only identity really works, and how to stay compliant.