Risk disclosure
Only trade money you can afford to lose entirely.
Leverage
Leverage multiplies losses. At 1000× a 0.052% move against you liquidates the position and the whole margin is lost. This can happen in seconds.
All or nothing
There is no partial liquidation and no stop loss. Before bust, the loss shown can be about half the margin at 1000×; at bust all of it is lost.
Order queue
Orders go through a relayer queue and can fill late, at a different price, or not at all. A close can also wait, and a position can bust while it waits.
Payouts
Winning trades are paid from Papertrade’s pool. If the pool is empty, profit waits in a queue and can take time to pay.
PAPER
PAPER is minted from losses. It may not be transferable and may have little or no value. Staking rewards are not guaranteed.
Protocol risk
Papertrade’s contracts are upgradeable, and its operators can pause opening, closing or deposits. Smart contracts, bridges and price feeds can fail or be exploited.
Prices
Prices come from Hyperliquid. Feed delays or errors can affect fills and liquidations.