Trades face the pool.
Papertrade’s synthetic positions settle against its own liquidity pool. They do not place corresponding perpetual orders on Hyperliquid.
Awaiting verified dataAwaiting verified Papertrade dataView status
A look inside the house.
The liquidity pool, outstanding winnings, and PAPER rewards.
Winnings can wait.
If liquidity is insufficient, profit can become a queued claim. An outstanding claim is not available cash, and its future payment is not guaranteed by an estimated waiting time.
Rewards have their own ledger.
Eligible losses mint PAPER. We show token quantities and USDC staking income separately, without assigning an invented token price.
Numbers need context.
We publish only values whose accounting can be verified. Missing source data stays unavailable, not zero.
Read our methodology