Papertrade Stats: Live TVL, Volume & PAPER Supply
Live Papertrade (papertrade.xyz) stats from its public API: TVL, liquidity pool, payout queue, open positions, 24h volume, PAPER supply and mint rate.
Key facts
- This page shows live Papertrade protocol statistics — TVL, trader margin, liquidity pool, payout queue, open positions, 24-hour and lifetime volume, PAPER supply and the current PAPER mint rate — read from Papertrade's public API and refreshed every few minutes.
- Papertrade's PAPER mint rate is 100 PAPER per $1 of loss basis while the tracked pool is under $2 million, then decays as 100 × (120M ÷ (120M + cumulative loss basis))². Signalview checked this formula against live mint events on October 16, 2026, and it matched to three decimal places.
- Papertrade's loss basis for PAPER minting is a losing trade's realized loss minus the 2% fee, so every PAPER in circulation corresponds to a realized trading loss.
- Papertrade's payout queue holds winning profits the liquidity pool cannot pay immediately; a queue of zero means every winning close is currently being paid in full and on time.
Papertrade publishes its protocol state through a public API, but not in one readable place. This page pulls the numbers that matter — how much money is in the venue, how big the pool that pays winners is, whether any profits are waiting in the payout queue, how much is being traded, and how fast PAPER is being minted — and shows them live, with a plain-English note on what each one means. For how the venue works, read What Is Papertrade? first.
Published October 16, 2026.
Live Papertrade protocol stats
The figures below are read on our server from Papertrade's public endpoints and refreshed every few minutes; the timestamp and HyperEVM block under the table show exactly when. They are reported values, not audited ones.
How to read these numbers
Total value locked is every dollar the protocol holds. Trader margin is the slice currently backing open positions, and the liquidity pool is the slice that pays winning trades. The pool is funded by trader losses, so it grows when traders lose and shrinks when they win.
The payout queue is the number to watch for solvency. When a winning trade's profit is larger than the pool can pay, the unpaid amount waits in a first-in, first-out queue that is paid down from future losses. Zero means the pool is covering every winner right now; a growing queue means winners are being paid late.
Volume on Papertrade runs far larger than its deposits because positions can use up to 1000x leverage: a $10 margin position at 1000x counts as $10,000 of volume when it opens and again when it closes. High volume against a small margin base is a measure of leverage, not of depth.
How the PAPER mint rate works
PAPER is minted only on losing trades, against a loss basis equal to the realized loss minus the 2% fee. While the protocol's tracked liquidity pool is under its $2 million cliff, the rate is a flat 100 PAPER per $1 of basis. Above it, the rate decays with cumulative loss basis, so early losers received far more PAPER per dollar than later ones. The table shows what the published formula gives at different cumulative loss levels.
| Cumulative loss basis | PAPER per $1 lost | Share of the base rate |
|---|---|---|
| $0 | 100.0 | 100% |
| $50 million | 49.8 | 50% |
| $120 million | 25.0 | 25% |
| $200 million | 14.1 | 14% |
| $300 million | 8.2 | 8% |
| $500 million | 3.7 | 4% |
Papertrade liquidation distance and win haircut
Two fixed facts sit behind every Papertrade trade, whatever the live numbers say. Positions are liquidated about 4.75 basis points of price before their equity reaches zero, which is negligible at low leverage and decisive at high leverage.
| Leverage | Adverse move to liquidation | Effective leverage |
|---|---|---|
| 10x | 9.95% | ≈10x |
| 50x | 1.95% | ≈51x |
| 100x | 0.95% | ≈105x |
| 500x | 0.15% | ≈656x |
| 1000x | 0.05% | ≈1,905x |
And winning trades pay all of the venue's costs — a small deadband, an impact haircut and a 2% fee on profit — while losing trades pay nothing extra. The haircut is steepest on small moves. These figures come from reproducing Papertrade's settlement against 1,236 real closed trades.
| Price move in your favour | Profit kept | Profit lost to costs |
|---|---|---|
| 0.01% (1 bp) | ≈21% | ≈79% |
| 0.05% (5 bps) | ≈61% | ≈39% |
| 0.10% (10 bps) | ≈72% | ≈28% |
| 1.00% | ≈86% | ≈14% |
| Any size (maximum) | ≈88% | ≈12% |
About this data
Signalview builds non-custodial AI trading agents and runs agents on Papertrade, which is why we read its API closely. We have no commercial relationship with Papertrade and earn nothing from it. Numbers on this page come straight from Papertrade's endpoints; if they look wrong, the venue's own interface is the authority.
Risk note: Papertrade is a real-money venue with leverage up to 1000x. Positions can be fully liquidated by very small moves, winning trades pay a haircut and fee, and profits can be queued. Nothing here is investment advice.
Frequently asked questions
- What is Papertrade's TVL?
- Papertrade's live total value locked is shown in the table on this page, read from the protocol's public API and refreshed every few minutes. It includes trader margin, the liquidity pool and any other USDC the protocol holds.
- How much PAPER do you get per dollar lost on Papertrade?
- 100 PAPER per $1 of loss basis while the tracked pool is under $2 million; above that, 100 × (120M ÷ (120M + cumulative loss basis))². The current rate is shown live on this page, and the loss basis is the realized loss minus the 2% fee.
- Is Papertrade's payout queue empty?
- The live payout queue balance is shown in the table above. Zero means the liquidity pool is paying every winning trade in full immediately; a positive balance means some profits are waiting to be paid from future trader losses.
- Why is Papertrade's volume so much larger than its deposits?
- Because positions can use up to 1000x leverage. A $10 margin position at 1000x adds $10,000 of volume when it opens and again when it closes, so volume measures leverage and turnover rather than the money in the venue.