Key facts
- Papertrade has no native limit, take profit or stop loss orders: every open and close is a market order at the Hyperliquid mid price.
- 1000xTrade adds them: you set a trigger price, and a pre-signed market order is sent when the mid price reaches it.
- Orders trigger with the page closed or your phone locked, for up to 30 days.
- A triggered order fills at the mid price when it executes, not always exactly at your trigger price.
Why Papertrade has no limit orders
Papertrade is not an order book. Every trade is a synthetic swap against the protocol's pool at the Hyperliquid best bid/offer mid price, which is why there is no slippage and no funding. The flip side is that there is nowhere to rest an order at a price: the protocol only accepts "open now" and "close now".
So a limit order on Papertrade has to be a trigger: something has to watch the price and send the market order at the right moment. That is what the 1000xTrade terminal does.
How to place a limit order
- Open the terminal, connect your wallet and enable one-click trading if you have not already.
- Pick BTC or ETH, choose Long or Short, then switch from Market to Limit.
- Enter the trigger price, your margin and leverage. The panel shows when it fires, for example "price ≤ 2,300.00", and the liquidation price estimated from your trigger price.
- Click Place Limit Order. The order appears in the Orders tab and as a LIMIT line on the chart.
A trigger below the current mid fires when the price falls to it; a trigger above fires when the price rises to it. That means the same tool works as a buy-the-dip limit order and as a breakout entry.
How to set take profit and stop loss
- Open a position, then click TP/SL next to it in the Positions tab.
- Enter a take profit price, a stop loss price, or both. The dialog shows the estimated PnL at each level.
- Click Save. TP and SL lines appear on the chart.
When the mid price reaches either level, the whole position is closed at the mid price and the other level is cancelled. The stop loss has to sit between the current price and your liquidation price; at 1000x the liquidation price is only about 0.05% from entry, so the liquidation calculator is worth a look before you choose a level.
Does it work with the page closed?
Yes. When you place an order, your trading key signs the exact open or close once. That signed order, and nothing else, is stored by the 1000xTrade background service, which watches the Hyperliquid price around the clock and submits it when your level is reached. You can close the tab, switch apps or lock your phone.
- The service never gets your trading key. Each signed order can only do the one trade you set up, and it can never withdraw funds.
- If the page is open too, it watches the same price. Both submit the same signed order, and the protocol executes it only once.
- Orders last until your 30-day trading key expires. Re-enabling trading gives you a new key; place the orders again after that.
Cancelling
Before it triggers, cancel an order from the Orders tab, or clear TP and SL from the position's TP/SL dialog. Once triggered, the trade can wait in Papertrade's queue for a moment; while it shows as Queued in the Positions tab, a Cancel button next to it withdraws it.
What to watch out for
- Fill price. A triggered order executes at the mid price when the protocol processes it. In a fast market, or when the protocol queue is busy, that can differ from your trigger price. At high leverage a small difference matters, so check the queue position and cancel if it waits too long.
- Best effort. Triggering depends on the price feed and the background service being up. A stop loss is a convenience, not a guarantee; liquidation still happens on-chain at the liquidation price.
- Balance. A limit order does not reserve margin. If your available balance is too low when it triggers, the open is rejected.
Limit, take profit and stop loss orders on 1000xTrade are price triggers built on top of Papertrade market orders. They can fill away from your price, trigger late or not trigger at all. Use small sizes, keep leverage low and never rely on a stop loss alone.
FAQ
Does Papertrade support limit orders?
Not natively. The Papertrade protocol only executes market opens and closes at the Hyperliquid mid price. 1000xTrade adds price-triggered limit orders on top: you set a trigger price, and when the mid price reaches it, a pre-signed market open is submitted for you.
Can I set a stop loss or take profit on Papertrade?
Yes, through 1000xTrade. Click TP/SL on an open position and enter a take profit price, a stop loss price or both. When the mid price reaches one of them, the whole position is closed at the mid price and the other level is cancelled.
Do I need to keep the page open for my orders to trigger?
No. Each order is signed once by your trading key and stored by the 1000xTrade background service, which watches the price around the clock. You can close the tab or lock your phone. The open page also watches prices, so whichever sees the level first submits the same signed order, and it can only execute once.
Will my limit order fill exactly at my price?
No. Papertrade has no order book, so a triggered order executes at the mid price when the protocol processes it. In a fast market, or when the protocol queue is busy, that can be different from your trigger price. A trade that is still waiting in the queue can be cancelled from the Positions tab.
Try a limit order with a small size
Connect a wallet, deposit at least 10 USDC and place your first limit order or stop loss.