Fidelity

Which strategies copy well

A leader's score describes their results. A follower's result depends on whether that strategy survives being reproduced a moment later, at a different size, in a different account. Those are not the same question.

In short

Strategies with holding periods long enough that seconds of delay are immaterial copy well: trend following, funding capture and slower mean reversion. Execution-driven strategies — scalping, liquidity hunting and market making — do not, because replication cost consumes most or all of their per-trade edge.

The fidelity ranking

Ordering archetypes by how much of the leader's edge reaches the follower gives a practical allocation guide that pure scoring does not provide.

Copies well: trend following — multi-day holds, entry timing is not critical.
Copies well: funding capture — income accrues over intervals, not seconds.
Copies acceptably: mean reversion on hourly-to-daily horizons.
Copies poorly: breakout — entry price sensitivity at the thinnest moment of liquidity.
Does not copy: scalping and liquidity hunting — edge is smaller than replication cost.
Does not copy: market making — the income comes from quoting, not from the resulting position.

Why the best trader may not be the best allocation

It is entirely possible for the highest-scoring account on the venue to be a poor copy target. Scoring measures their record honestly; fidelity measures what survives the transfer. Allocation has to respect both.

Saying so plainly is more useful than quietly listing an untradeable leader on a board and letting followers assume their results will match.

What a follower should expect

For high-fidelity archetypes, monthly mirrored results should track the leader closely, with divergence dominated by fees and small fill differences. For lower-fidelity archetypes, expect visible divergence in both directions.

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

Why not just copy the top of the leaderboard?

Because leaderboard rank measures the leader's record, not how much of it a follower can realistically capture.

How large is typical tracking error?

It depends almost entirely on turnover. Slow strategies diverge marginally; high-frequency strategies can diverge substantially.

Is fidelity part of the score?

It informs allocation alongside the score rather than being folded into it, so the score stays a clean description of the leader's record.

Do fees change the ranking?

They reinforce it. Fee drag scales with turnover, so the archetypes that already suffer from delay also pay the most in fees.

Can fidelity improve over time?

Execution improvements narrow the gap, but a follower is downstream of the leader by construction and always will be.

Keep reading

Scalping and liquidity huntingWhy the fastest archetypes do not transfer.Holding period and turnoverThe arithmetic behind the ranking.Reading a leaderboardWhy short-window PnL rankings mislead.Live model performance7D and 30D score-weighted ROI estimates from public trader history.

Start Autopilot View live performance

Diversified copy trading. On autopilot.

Score-weighted allocation across up to 10 elite Hyperliquid traders, each isolated in its own sub-account. Your funds never leave your account.