Paper mode is the middle gate of the recommended path: configure → backtest → paper-trade 1–2 weeks → review with the AI → go live. Your agent will guide you through it — ask it “how’s my paper trading going?” or “ready to go live?” for an honest read.
How it works
- Your agent runs on exactly the same schedule, data sources, strategy, and risk limits as live mode.
- Trades execute against a simulated $10,000 USDC portfolio at real mark prices.
- Positions, P&L, fees, and funding rates are all tracked and shown on your dashboard, just like live.
- The AI chat assistant sees your paper portfolio and can discuss performance, suggest adjustments, or tell you when results look live-ready.
What’s fully simulated
| Behaves like live | Detail |
|---|---|
| Risk caps | Max drawdown, daily loss, and max open positions are enforced identically. |
| Stop-loss & take-profit | Including multi-rung TP ladders (each rung fills as a partial close). A backend poller checks mark prices every ~2 minutes and fills them when triggered — mirroring live execution. |
| Limit orders | Simulated against real mark prices. |
| Funding | Accrued every 8 hours at real Hyperliquid rates. |
| Credits | Standard credit cost still applies — the agent reads data and calls the model the same way. |
What’s different from live
- No real capital is ever at risk. The $10,000 is virtual.
- No slippage simulation (v1). Fills are at the current mark price, so paper P&L may slightly outperform live — treat it as optimistic.
[PAPER]badges appear throughout the dashboard and chat so you always know which mode you’re in.
Switching modes
Open Modify Agent → Trading Mode card → tap Go Paper or Go Live.- Going Paper is instant — no Hyperliquid account needed.
- Going Live requires a connected Hyperliquid API key and a confirmed USDC deposit.