Trade BTC & ETH perps with up to 1000x leverage

1000xTrade is an independent interface to the Papertrade protocol, a fully on-chain perpetuals exchange on Hyperliquid's HyperEVM. Every trade is a synthetic swap against the protocol's liquidity pool at Hyperliquid's mid price, so there is no order book, no spread, no slippage and no funding payment. Your funds sit in the Papertrade exchange contract and Hyperliquid, never with 1000xTrade. 中文用户请看 入金教程。

How this terminal works

• Connect a wallet such as MetaMask, Rabby or OKX Wallet. The page adds the HyperEVM network if needed. On a phone, open this page inside your wallet app's browser.
• Deposit USDC to your personal deposit address, from Hyperliquid spot or from HyperEVM. See the deposit guide.
• Enable trading once by signing a message. It creates a session key in this browser that can open and close positions but cannot withdraw.
• Place Trade on BTC or ETH, long or short. Positions close at the live mid price.

Costs and liquidation

There is no fee on position size and no funding. Losing closes pay only the loss; winning closes pay charges on the gain set by the protocol — see the Papertrade documentation for the full schedule. If price crosses your bust price the full margin is lost. At 1000x that is a move of only about 0.05%, so check it with the liquidation price calculator and read the risk management guide first.

Is it safe?

Papertrade is young, experimental software. When the pool cannot cover a winning close, the profit joins a payout queue and is paid from later losses, so profits can be delayed. Smart-contract and price-manipulation risks apply. Only trade money you can afford to lose, and check that derivatives trading is legal where you live. Read the full risk disclosure.