Exchange roles with no-hoper (5)
I believe the answer is:
loser
'no-hoper' is the definition.
(I've seen this before)
'exchange roles' is the wordplay.
'exchange' is an anagram indicator.
'roles' is an anagram of 'LOSER'.
'with' is the link.
(Other definitions for loser that I've seen before include "one plays without success" , "One who is (always) unsuccessful" , "No-hoper" , "One failing regularly" , "Defeated competitor" .)