For Asset Owners

Manage Hyperliquid Sub Accounts and delegate to fund managers for Copy Trading

This guide walks you through managing Hyperliquid Sub Accounts on Owly and delegating them to fund managers for Copy Trading.

Workflow Overview

1. Preparation
2. Create Sub Account
3. Import to Owly
4. Assign Manager
5. Daily Management
6. Permissions & Security

Step 1: Preparation

1.1 Register Owly Account

1. Visit Owly

   Go to app.owly.fi

2. Connect Wallet

   Click “Connect Wallet” to connect your main wallet

3. Sign Verification

   Sign the verification message to confirm wallet ownership

4. Registration Complete

   Complete registration and enter the Owly platform

1.2 Confirm Fund Manager Registration

Fund manager must be a registered Owly user

Obtain the fund manager’s wallet address

If the fund manager is not registered, the assignment will fail.

Step 2: Create Sub Account and API on Hyperliquid

2.1 Prerequisites

Creating a Sub Account requires your main account to have reached 100,000 USDC trading volume.

2.2 Create Sub Account

1. Visit Hyperliquid

   Go to app.hyperliquid.xyz

2. Connect Wallet

   Connect your main wallet

3. Navigate to Sub Accounts

   Find Sub Accounts in the menu

4. Create Sub Account

   Click Create Sub Account, enter a name and confirm creation

2.3 Create API Key for Sub Account

1. Enter Sub Account

   Select the Sub Account you just created

2. Create API Key

   Click API, create a new API Key

3. Save Private Key

   Important: Securely save the private key - it’s only shown once

Each Sub Account must have its own API Key!

While one API Key can technically operate all Sub Accounts, due to Nonce mechanism limitations, one API Key cannot operate multiple Sub Accounts simultaneously, otherwise trading conflicts will occur.

Owly requires: One Sub Account = One dedicated API Key.

2.4 Set Up Builder Fee

1. Visit Settings Page

   Go to Owly Builder Fee Settings

2. Connect Wallet

   Connect your main wallet

3. Complete Authorization

   Follow the on-page instructions to complete Builder Fee authorization

If Builder Fee is not set, import validation will fail.

Step 3: Import Sub Account to Owly

3.1 Access Add Page

1. Login to Owly

   Login to Owly with your main wallet

2. Go to Sub Account Management

   Navigate to Sub Account Management

3. Add Sub Account

   Click Add Sub Account

3.2 Select Sub Account

Owly will automatically fetch your Sub Account list. Select the Sub Account you want to import.

3.3 Enter API Key

1. Enter Private Key

   Enter the API private key you created on Hyperliquid

2. Set Display Name

   Set a display name for this account

3.4 Confirm Import

Owly will verify:

• API Key validity
• Builder Fee setup status

Once verified, import is complete.

Step 4: Assign to Fund Manager

1. Go to Sub Account Management

   Navigate to Sub Account Management in Owly

2. Select Sub Account

   Choose the Sub Account to assign

3. Assign Fund Manager

   Click Assign Fund Manager

4. Enter Address

   Enter the fund manager’s wallet address

5. Confirm Assignment

   Confirm the assignment

If the fund manager hasn’t registered on Owly, assignment will fail with “Address not registered” message.

Step 5: Daily Management

View Account Status

Go to Sub Account Management to view all accounts, including positions, P&L, and Bot running status.

Stop Bot

1. Select Account

   Select the Sub Account

2. Stop Bot

   Click Stop Bot

3. Complete

   Bot will stop executing new trades

Remove Fund Manager Assignment

1. Select Account

   Select the Sub Account

2. Remove Assignment

   Click Remove Assignment

3. Confirm

   After confirmation, fund manager loses management permissions and associated Bots will automatically stop

Emergency Revocation (On-chain)

To completely revoke an API Key:

1. Visit Hyperliquid

   Go to Hyperliquid

2. Enter Sub Account

   Navigate to the corresponding Sub Account

3. Revoke API

   Delete/revoke the API Key

Permissions & Security

API Key Technical Limitations

Limitation	Description
Scope	API Key can sign operations for main account and all Sub Accounts
Nonce Mechanism	Each API Key uses an independent Nonce sequence
Concurrency Limit	One API Key cannot operate multiple Sub Accounts simultaneously (Nonce conflict)
Owly Requirement	Each Sub Account must use a dedicated API Key

API Key Permissions

Permission	Description
✅ Trading	Open, close, place, cancel orders
✅ Leverage Adjustment	Modify leverage multiplier
❌ Internal Transfer	Requires asset owner’s private key signature
❌ Withdrawal	Requires asset owner’s private key signature

API Key can only perform trading operations, cannot transfer or withdraw funds. All operations involving fund movements require the asset owner’s private key signature. API Key leakage will not result in funds being transferred away.

Fund Manager Permissions

After assignment, fund managers can:

Operation	Permission
Configure and start/stop Copy Trade Bot	✅ Allowed
View positions and P&L	✅ Allowed
Withdraw or transfer funds	❌ Not Allowed
Modify account settings	❌ Not Allowed
Assign to others	❌ Not Allowed

Security Recommendations

1. Safely store API private key - never share with anyone
2. Use dedicated API Key for each Sub Account
3. Only assign to trusted fund managers
4. Regularly check trading records - stop Bot immediately if anomalies detected
5. If API leak suspected - immediately revoke on Hyperliquid

Risk Disclosure

Scenario	Risk	Your Control
Fund manager strategy loss	Capital reduction	Stop Bot, remove assignment
High leverage operation	Liquidation risk	Monitor positions, intervene promptly
API Key leak	Malicious trading	Revoke API on Hyperliquid
Extreme market conditions	Significant losses	Set stop-loss in advance

FAQ

Cannot create Sub Account

Main account must reach 100,000 USDC trading volume

Import fails with 'Builder Fee not set'

Please set Builder Fee on Owly first

Cannot find my Sub Account

Confirm you’re using the main wallet that created the Sub Account

Assignment fails with 'Address not registered'

Fund manager needs to register an Owly account first

Can fund manager withdraw my funds?

No, API Key has no withdrawal permissions

Why does each Sub Account need a separate API?

Nonce mechanism limitation - sharing causes trading conflicts

Next Steps

Asset Management

Learn how to manage deposits and withdrawals

Dashboard

Understand your portfolio and performance metrics