Paper
Paper in the 0xArchive Terminal uses the same ticket as live trading and fills against the live Hyperliquid and Lighter order books the chart shows.Market orders
Take each price level in turn, up to 50 levels deep, and fill at the average price paid. They stop at 8% from the mid, or 10% for a triggered stop or take-profit.
Limit orders
Join the back of the queue at their price and fill once trades clear the size ahead, or in full when a trade prints through the price.
Stops and take-profits
Trigger on the mark price, as on Hyperliquid, then fill as a market order or rest as a limit.
Size against depth
The ticket flags any order larger than a quarter of the visible depth on its side of the book.
Close the tab and Paper picks up where it left off. When you come back, within 30 days, resting orders fill from the trades 0xArchive recorded while you were away, stops and take-profits trigger, and funding is charged for each hour.
Strategies you start on Paper from the Strategies panel keep trading with the tab closed. Their entries fill at the best bid or ask, their stops and targets fill when a trade reaches them, and they pay Hyperliquid’s fees.
Backtests
A strategy backtest fills on the chart’s bars and charges what each trade would have cost.- Entries fill at the next bar’s open, so a strategy never trades on a close it hasn’t seen.
fill: 'close'fills on the signal bar instead. - Inside a bar, price runs from the open to the nearer of the high and low, then to the other, then to the close. Stops and limits fill where it first reaches them.
- Market and stop fills pay the taker fee plus slippage, and limit fills pay the maker fee, at the same rates as Paper.
- Slippage is what an order of the trade’s size cost against the recorded order book at the signal bar’s close. 0xArchive records the cost of a $10k, $100k and $1M order on every Hyperliquid and HIP-3 bar from 6 September 2026. Before that, fills pay a flat 2 bps.
- Funding is charged for every hour a position is open, at that hour’s rate, from 1 March 2025.
fees: { takerBps, makerBps } and slippage: { bps }. Portfolio strategies pay the taker fee and 2 bps on every fill, with each day’s average funding rate.
The report’s Assumptions tab lists the rules and data a run used, and the same settings always produce the same trades. Export the trades as CSV or JSON from its Export tab.