Everything you need to trade BTC and ETH perpetuals on Papertrade safely: how leverage and liquidation work, how money moves in and out, and how the protocol pays winners.
How $10 becomes a $10,000 position and what liquidates it.
Read →Fund your balance from Hyperliquid or HyperEVM.
Read →What the session key can and cannot do.
Read →Move USDC back to your Hyperliquid account.
Read →Specs, sizing examples and liquidation distances for BTC-PERP.
Read →Specs, sizing examples and liquidation distances for ETH-PERP.
Read →Liquidation price, distance and PnL for any margin and leverage.
Read →How trading against the pool at mid price works.
Read →Why a winning close can be paid later.
Read →How losses mint PAPER and staking pays USDC.
Read →