Xeer(@Xeer):okay not trying to fud but… @papertrade_xyz doesn’t actually execute trades on hyperliquid. it just uses hyperliquid prices to settle synthetic positions against its own LPs, with 1000x leverage and some questionable payout asymmetry when prices gap. my concern is what happens when enough people figure this out. or someone big decides to trigger a volatility event that could drain the LP, and leave everyone queuing for withdrawals. using hyperliquid prices and trading on hyperliquid are two very different things. not sure if most trading on paper actually understand the difference.

2026.10.10 19:31

okay not trying to fud but… @papertrade_xyz doesn’t actually execute trades on hyperliquid. it just uses hyperliquid prices to settle synthetic positions against its own LPs, with 1000x leverage and some questionable payout asymmetry when prices gap. my concern is what happens when enough people figure this out. or someone big decides to trigger a volatility event that could drain the LP, and leave everyone queuing for withdrawals. using hyperliquid prices and trading on hyperliquid are two very different things. not sure if most trading on paper actually understand the difference.

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