derivatives

Papertrade Outpaces Pump and Hyperliquid Combined in Revenue in Its First Week

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A Hyperliquid wallet closed a CBRS long, taking a loss of about $6.95 million on a position that had been worth about $36.51 million. In a separate development, Papertrade went live on HyperEVM on October 10 and reached $37.03 million in revenue four days later, above Pump.fun’s $16.06 million seven-day revenue and Hyperliquid’s $14.56 million.

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Key claims & sources

✓
A Hyperliquid wallet exited a CBRS long that had been worth about $36.51 million and left about $6.95 million on the table when it closed.
Hyperliquid Wallet Exits About $36.51M CBRS Long at About $6.95M Loss
✓
The same wallet also held GOOGL and GME long positions with a combined value of about $57.42 million, using 20x and 10x isolated leverage.
Hyperliquid Wallet Exits About $36.51M CBRS Long at About $6.95M Loss
✓
Papertrade went live on HyperEVM, Hyperliquid’s smart contract layer, on October 10.
Papertrade Outpaces Pump and Hyperliquid Combined in Revenue in Its First Week
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Four days after launch, Papertrade’s revenue reached $37.03 million, while Pump.fun recorded $16.06 million in seven-day revenue and Hyperliquid recorded $14.56 million.
Papertrade Outpaces Pump and Hyperliquid Combined in Revenue in Its First Week

What it means

Users and traders on HyperEVM and Hyperliquid notice that a new derivatives venue reached revenue figures quickly after launch, while an active Hyperliquid wallet also closed a large leveraged position. That puts attention on the activity visible on these venues today, including the scale of positions and the pace of usage on the new platform.

Before this, Papertrade had just gone live on October 10; now it is listed with revenue figures that can be compared against Pump.fun and Hyperliquid, while the wallet’s CBRS long is no longer open. What changed in practice is that the position was exited and the new platform started posting revenue numbers, while the reported leverage terms on the GOOGL and GME longs remain the same description of the wallet’s trading setup.

Market reaction i

HyperliquidHYPE the event is about this asset
first headline
+0.4% 2 h before
-2.3% 4 h after
$83.11price at publication
12data points

Coverage timeline

Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.

first
Oct 14 06:22

Has this happened before?

WhenWhat happenedFigure
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