papertrade.xyz is a fair-launched, fully onchain synthetic perpetual exchange built on Hyperliquid, co-founded by Jez and Blurr. papertrade.xyz's Twitter Score is 148 out of 1000 (an Excellent rating) as of October 2026, ranking #3,863 (top 1%) among 493,668 tracked accounts.
papertrade.xyz operates through smart contracts on HyperEVM, drawing on Hyperliquid market data for pricing. The protocol advertises leverage of up to 1000x alongside zero slippage, zero trading fees, and zero funding costs. As of May 2026, an external review noted that papertrade.xyz had announced a limited beta but had not yet fully launched on mainnet.
papertrade.xyz uses a self-bootstrapping liquidity mechanism called the Martingaler pool, which begins without initial liquidity and grows from trader losses, liquidations, and impact applied to profitable closes. The protocol's fee-claim token, PAPER, is minted when trader losses or liquidations add to the pool and can be staked to receive USDC. The token design carries no pre-mint, no team or VC allocation, no airdrop, and no vesting schedule, starting from zero supply. papertrade.xyz has published 21 posts and has been mentioned by 186 accounts across 248 mentions.
Who follows papertrade.xyz on X?
papertrade.xyz draws a focused audience from across the crypto space. The accounts that follow papertrade.xyz include 495 founders, 143 angel investors, 479 influencers and 6 VCs. Among them are Ansem, ZachXBT, Hsaka, Frank, Farokh and Foobar.