Papertrade Outpaces Pump and Hyperliquid Combined in Revenue in Its First Week
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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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.
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 5 days ago | Trader nets $1.28 million on new 1,000x exchange Papertrade by moving Hyperliquid’s ETH prices event | 1 actors in common · 4 news media |
| 5 days ago | Singapore’s MAS puts Hyperliquid on its investor alert list event | 1 actors in common · 2 news media |
| 5 days ago | Bitcoin hedge funds face a liquidation trap when their collateral is split across markets event | 1 actors in common · 2 news media |
| 6 days ago | Hyperliquid ETH trades raise concerns: Was Papertrade exploited? event | 1 actors in common · 2 news media |
| 7 days ago | Crypto ETFs shed $1.29b as Bitcoin and Ether lead exits event | 1 actors in common · 2 news media |