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Papertrade launches PAPER perpetuals on Hyperliquid with up to 3x leverage and $138M predeposit on synthetic platform.

Market News
18 Oct 2026
Tokenpost
View Source
Neutral
Papertrade launches PAPER perpetuals on Hyperliquid with up to 3x leverage and $138M predeposit on synthetic platform.

Papertrade's PAPER perpetual contracts are now trading on Hyperliquid's HIP-3 market with up to three times leverage, currently priced at $0.012 with $30,000 open interest. The PAPER ticker was acquired by Paragon for about $45,000. Additionally, Papertrade operates a synthetic perpetuals platform based on HyperEVM, which successfully raised $138 million from 11,465 addresses during its predeposit phase. This platform prices contracts using the midpoint of Hyperliquid's best bid and offer, allowing traders to take positions against liquidity providers, signaling growing innovation in decentralized trading.

Papertrade perpetual contracts are the topic, with Pluang market data provided as context. For readers following major cryptocurrencies on Pluang, as of Oct 18, 2026 18:01 WIB, 8 out of 50 major cryptocurrencies rose while 41 fell. Notable movers include KSM at Rp75.624 with a 1-day change of -4.53% and Pluang order activity showing 57% Sell / 43% Buy, NEO at Rp39.661 down 4.42% with 63% Sell / 37% Buy, and YFI at Rp39.328.137 down 4.38% with 0% Sell / 100% Buy. The most notable figure is YFI's 100% Buy order activity on Pluang.

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