# Papertrade Perpetuals Trade on Hyperliquid With Three Times Leverage By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/34342 Published: 2026-10-18T11:31:47.000Z Updated: 2026-10-18T11:31:47.000Z Section: Investing > A Sunday snapshot showed PAPER at $0.012 and about $30,000 in open interest. 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. ## Links in this article - [HyperEVM-based synthetic perpetuals platform](https://www.tokenpost.com/news/technology/29555)