Papertrade fees
No fee on position size, no spread, no funding and no gas. Winning closes pay a haircut on the gain plus a 2% win fee: on BTC a 1% move keeps about 86% of the raw gain and a 0.1% move about 72%. Losing closes pay nothing beyond the loss. Deposits carry a one-time 1 USDC activation fee. Network (gas/priority) fees and pool fees are charged on top.
Checked 2026-10-17 · fee sourceThe fee schedule
| Fee | Type | Rate | Applies to | Note |
|---|---|---|---|---|
| Win haircut (asymmetric impact) | protocol | — | close | Applies only to winning closes. It scales the gain by the size of the price move, not the size of the position: a winning close never keeps more than 90% of its raw gain, a 1% BTC move keeps about 88% and a 0.1% move about 74%. Gains under 0.2 bps of price are zeroed. |
| Win fee | protocol | — | close | 2% of the gain left after the haircut. Losing closes and liquidations carry a 2% fee too, but it is taken from the pool's gain, not added to your loss. |
| Account activation | other | $1.00 | Buy and sell | One-time 1 USDC on the first deposit. Deposits from chains other than Hyperliquid also pay the bridge fee. |
Platform fees only. On-chain network/priority fees, pool (LP) fees and price impact are extra and vary by trade.
Fees DexSheet doesn't count
- Network fees: Solana base + priority fees, or gas on EVM chains. Usually cents on Solana, but priority tips during busy launches can be more.
- Pool (LP) fees: the DEX pool the trade routes through takes its own cut (for example Pump.fun's bonding curve charges 1.25%).
- Price impact and slippage: on thin memecoin pools this is often bigger than every fee combined.
FAQ
How much does Papertrade charge per trade?
No fee on position size, no spread, no funding and no gas. Winning closes pay a haircut on the gain plus a 2% win fee: on BTC a 1% move keeps about 86% of the raw gain and a 0.1% move about 72%. Losing closes pay nothing beyond the loss. Deposits carry a one-time 1 USDC activation fee.
Does Papertrade charge on both buy and sell?
Yes. The platform fee applies to buys and to sells, so a round trip costs about twice the per-trade rate.
How do I pay lower fees on Papertrade?
There is no documented discount.
What does Papertrade charge?
There is no fee on position size, no spread and no funding. Winning closes pay a haircut on the gain plus a 2% win fee. On BTC a 1% move keeps about 86% of the raw gain and a 0.1% move about 72%. Losing closes pay nothing beyond the loss.
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- Papertrade Docs: What is Papertrade? — checked 2026-10-17
- Papertrade Docs: FAQ — checked 2026-10-17
- Papertrade Docs: Asymmetric impact PnL — checked 2026-10-17
- Papertrade Docs: Liquidations — checked 2026-10-17
- Papertrade Docs: Deposits and withdrawals — checked 2026-10-17
- Papertrade Docs: The LP and the payout queue — checked 2026-10-17
- Papertrade Docs: Risk — checked 2026-10-17
- Papertrade Docs: Builder codes — checked 2026-10-17
- Bankless: What to know about Papertrade's launch — checked 2026-10-17
- KuCoin: Papertrade tightens limits after price manipulation — checked 2026-10-17