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Copy-tradingKilled
Mirror the single best-performing Hyperliquid wallet
92%
of live net P/L came from a single trade out of 44, strip it and the edge is gone
In plain English
Copying the single best-performing trader made money on paper, but 92% of it came from one trade; over three months he’d have lost to just holding.
What it needed
beat simply holding, with no single trade carrying it
→
What it got
92% of profit from one trade; lost to holding over 92 days
Why it's dead
The live net looks positive, until you realise one trade drove almost the entire result. The 92-day backtest on the same wallet reveals it's a buy-and-hold underperformer.
The detail
n=44 live trades. A single trade (#1) accounted for 92.3% of all net P/L; the other 43 combined for the rest. 92-day backtest on the same wallet: it finished net-negative while simply holding finished net-positive, and lost to unlevered HODL across all five BTC pullbacks in the window.
- Kill date
- 2026-05-09
- Sample
- n=44 live + 92d backtest
- Method
- Pre-registered
- Verdict
- single-trade concentration
Pre-registered before the data. Judged on a criterion locked in advance. Published whatever the result.
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