circuit run --paper, which simulates funds). It settles synthetic BTC and ETH perpetuals on HyperEVM against its own liquidity pool at Hyperliquid’s order-book mid: no order book, spread, slippage or funding. Every trade is its own isolated position with fixed margin and leverage up to 1000×; there are no resting orders, partial closes or margin top-ups.
agent.papertrade.positions.open({ asset, side, margin, leverage }) opens a position: asset is "BTC" or "ETH", side is "long" or "short", margin is the USDC committed to this position, and notional is margin × leverage. Papertrade’s keeper sets the minimums, currently 10 USDC of margin and 10,000 USDC of notional, so the smallest position is 10 USDC at 1000×. The result carries the venue’s positionId, entryPrice, liquidationPrice, margin, leverage and openedAt. agent.papertrade.positions.close({ positionIds }) closes one to twelve positions at the current mid; each result names its exitPrice, pnl in USDC after Papertrade’s win haircut and fee, and whether a liquidation closed it first. agent.papertrade.account.retrieve() returns the session wallet’s live balance, queued winnings and open positions.
Papertrade USDC is asset 0 on network papertrade, with 18 decimals. A swap from HyperCore USDC (hypercore, asset 0) deposits into the wallet’s Papertrade deposit address, and a swap back withdraws to HyperCore; each moves at least 10 USDC. Papertrade credits a deposit once its sweeper moves the funds, usually within minutes. Before the first trade, Circuit registers a 30-day session key derived from the wallet’s signature and renews it before it expires: automatically for wallets it created, and through a reviewed accountSetup with venue: "papertrade" for imported wallets, whose agents receive ACCOUNT_SETUP_REQUIRED until then.
Holdings report Papertrade positions per asset as kind: "perp" with the net size across the session’s positions, valued at Hyperliquid’s mid; use account.retrieve() for each position’s id, margin and liquidation price.