Papertrade Perpetuals Trade on Hyperliquid With Three Times Leverage

Papertrade (PAPER) perpetuals trade in Hyperliquid’s HIP-3 market, with leverage of up to three times. A live snapshot at 7:25 a.m. ET (11:25 UTC) Sunday showed PAPER at $0.012 and the contract with about $30,000 in open interest. Paragon had previously paid about $45,000 to win the PAPER ticker auction. Papertrade also operates a HyperEVM-based synthetic perpetuals platform , which launched after 11,465 addresses deposited $138 million during its predeposit phase. That platform uses the midpoint between Hyperliquid’s best bid and offer for pricing, with traders taking positions against the protocol’s liquidity providers. Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

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