Frequently asked questions

1000xTrade is an independent web interface for the Papertrade protocol, an on-chain perpetuals exchange on Hyperliquid. It lets you trade BTC and ETH perps with up to 1000x leverage from your own wallet. We are not affiliated with Papertrade or Hyperliquid and never hold your funds.

No. You connect an EVM wallet such as MetaMask, Rabby or OKX Wallet and sign messages. There is no account registration and no identity check. You are still responsible for following the laws where you live.

BTC-PERP and ETH-PERP, both with up to 1000x leverage and up to $10M position size per position. New markets can be added by the protocol.

At least 10 USDC must arrive per deposit, and the first deposit pays a one-time 1 USDC activation fee. Each position needs at least $10 of margin and a $500 position size (margin × leverage).

There is no fee on position size, no spread and no funding. Losing closes pay only the loss. Winning closes pay protocol charges on the gain: an impact haircut that is larger on small moves and a 2% win fee. The full schedule is in the Papertrade documentation.

At 1000x about 0.052%, at 500x about 0.15%, at 100x about 0.95% and at 10x about 9.96%. Liquidation forfeits the full margin of that position. Use the liquidation price calculator to check any position.

No. Each position is fixed once opened. To change it, close it and open a new one. Your leverage choice is what determines how much room the price has.

Copy your personal deposit address in the terminal and send spot USDC to it from Hyperliquid, or deposit USDC from HyperEVM with the Deposit button (needs a little HYPE for gas). Hyperliquid deposits are credited within seconds.

Enter an amount of at least 10 USDC in the Withdraw panel and sign with your wallet. The USDC goes to your Hyperliquid spot balance. Only the available balance can be withdrawn, not margin in open positions.

When you enable trading you sign once to create a 30-day session key in your browser. It signs opens and closes for you, but it cannot withdraw, stake or claim. Those always need your wallet.

The pool that pays winners is funded only by traders' losses. If it is short when you close a win, the unpaid profit waits in a first-in, first-out queue and is paid as new losses arrive. Your margin is never queued.

PAPER is the protocol's fee-claim token, minted to traders on losing closes and liquidations. It cannot be transferred at launch. Staked PAPER earns USDC from trading fees and pool surplus, with no lockup.

Yes. Open 1000xtrade.xyz/trade.html inside your wallet app's built-in browser, for example MetaMask or OKX Wallet. Ordinary mobile browsers cannot reach a wallet extension.

Papertrade is new, experimental software. Risks include smart-contract bugs, manipulation of the Hyperliquid mid price, delayed payouts through the queue and the very high chance of liquidation at extreme leverage. Only trade money you can afford to lose.