Fee models

Copy trading fee models, compared

Fee structure is an incentive statement. It tells you what the operator is optimising for long before their marketing does.

In short

The four common models are volume-based builder fees, profit share, flat subscriptions and spread markups. HyperMirror charges a 0.1% builder fee on mirrored volume only — it earns nothing from deposits, spreads or your losses, but it does earn on turnover, which is the incentive you should watch.

At a glance

Copy-trading fee models compared
Fee model	How it is charged	What it incentivises
Profit share	How it is chargedPercentage of gains, often high-water marked	What it incentivisesVolatility: upside is shared, downside is not
Subscription	How it is chargedFlat monthly cost regardless of results	What it incentivisesRetention over performance
Spread markup	How it is chargedHidden in execution price	What it incentivisesOpacity; hard to audit
Management fee	How it is chargedPercentage of assets over time	What it incentivisesAsset gathering
Builder fee (HyperMirror)	How it is charged0.1% of mirrored notional volume, settled by Hyperliquid	What it incentivisesMirroring only when leaders actually trade; no cut of equity

What each model rewards

No fee model is neutral. Each one pays the operator for a specific behaviour, and that behaviour is what you should expect more of.

Volume fee: rewards mirrored turnover. Transparent and predictable; watch for churn incentives.
Profit share: rewards upside, costs nothing in losing periods; can reward volatility-seeking and often uses high-water marks worth reading closely.
Subscription: predictable and behaviour-neutral, but charged whether or not the system trades or performs.
Spread markup: worst for transparency, since the cost is embedded in your fill price rather than itemised.

The builder fee, stated plainly

The fee is 0.1% of mirrored notional volume, collected through Hyperliquid's native builder mechanism. You approve a maximum rate during onboarding, so the ceiling is enforced by the protocol rather than by policy.

It applies to mirrored volume only. There is no deposit fee, no withdrawal fee, no performance fee and no charge on capital sitting idle in your account. Hyperliquid's own exchange fees are separate and are paid to the venue.

Comparing honestly against your own turnover

A volume fee is cheap for low-turnover mirroring and more expensive for high-frequency leaders. Estimate the mirrored notional you expect per month and compute the cost directly rather than comparing headline percentages across different bases.

Our answer to the churn incentive is that replacement is driven by score thresholds rather than trade counts — but you should verify incentives structurally with any provider, including this one.

Risk statement

Fees are certain; returns are not. A volume fee is charged on mirrored trades regardless of whether those trades are profitable.

Past performance is not indicative of future results. Perpetual futures are leveraged instruments and carry a substantial risk of loss, including the loss of your entire position.

Questions

Frequently asked

Is the builder fee charged on profits?

No. It is charged on mirrored notional volume, whether the trade wins or loses.

Are there deposit or withdrawal fees?

None from HyperMirror. Hyperliquid's own network and exchange fees still apply.

Can the fee rate be raised silently?

No. The approved maximum rate is enforced by the protocol; raising it would require a new approval from your wallet.

Keep reading

The builder fee in detailWhat it touches and what it does not.Starter and Full modeHow the volume gate works.DocumentationScoring, allocation, isolation and replacement mechanics.

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