Docs & FAQ

papertrade.xyz offers synthetic perpetuals on Hyperliquid with leverage up to 1000x. Today it lists BTC and ETH.

papertrade has no public API; trades only go through its own relayer. So the operator trades manually and then funds the reward pool on-chain, where every deposit is visible.

$PAGENT trades on pump.fun and the creator fee arrives in the operator wallet. The operator moves it to papertrade as USDC and trades. Part of the profit is swapped to SOL and sent to the staking program with fund_rewards, which streams it to stakers. Stakers claim whenever they like.

A stake is a position: an amount of $PAGENT and a lock. A wallet can hold as many positions as it likes, each with its own lock.

1 day ×1.00, 3 days ×1.15, 7 days ×1.30, 30 days ×1.75, 90 days ×2.50. These are the launch terms; the admin can change them for new positions only.

No. A position stays locked until its lock ends. After that you can withdraw it in full at any time.

Its lock multiplier drops to ×1.00 (an early bonus stays). Anyone can trigger that with expire_position, and the backend's keeper does it automatically. Otherwise a finished 90-day lock would keep its multiplier forever while being free to withdraw.

Positions opened before papertrade opens get an extra ×1.50, kept until the position is withdrawn. The admin sets that moment and can only move it earlier, never later.

It only blocks new stakes. Unstaking, claiming and expiring locks always keep working.

Your wallet's weight is √(total you have staked) × the average multiplier of your positions. Every second, your share of the distribution is your weight divided by everyone's weight. Example: 100,000 tokens vs 10,000,000 tokens gives weights of 316 vs 3,162, so 100× the tokens earns 10× the rewards.

No. The square root is taken of your wallet's total, so splitting inside one wallet changes nothing.

In SOL. Each funding is spread evenly over a set period. If a previous distribution is still running, its remainder is added to the new one and the period starts again. Your share accrues every second; claim it whenever you want.

Those seconds aren't lost: their share goes back into the next distribution.

No. Trading at up to 1000x is high risk: positions can be liquidated and some periods may pay nothing. Rewards exist only when trading is profitable and the operator funds the reward pool.

Yes, and we'd rather say it than hide it: 100 wallets give a whale 10× the weight of one. The √ curve stops whales who keep everything in one wallet, not determined ones.

Change lock tiers and the bonus for new positions, pause new stakes, rotate keys (admin changes take two steps) and withdraw SOL nobody has earned yet. The admin can't take staked tokens or SOL already earned by stakers.

There is one path: unlock_all makes every lock count as finished, stakers withdraw their tokens and SOL, then only unallocated SOL can be withdrawn and the program closed.

For the trading part, yes: trades happen by hand on papertrade, outside the program. What the program guarantees is that SOL in the reward pool goes to stakers and that nobody can take your stake.