PAPER live: funding rate, open interest & volume spikes
PAPER is a HIP-3 market: see PAPER perp on Hyperliquid for oracle basis, OI cap and market hours.
Live market summary
PAPER trades on 1 exchange tracked by Swolecharts (Hyperliquid) across 1 perpetual futures market (no spot market). The last price is 0.02773 USD on Hyperliquid (+3.47% in the last hour), and 24h volume is $8.14M. Perpetual open interest totals $2.19M. The funding rate is -0.0279% per 8h (≈-31% APR), so shorts pay longs. PAPER is a HIP-3 market (builder-deployed, such as a stock or commodity perp). No exchange tracked by Swolecharts with a liquidation feed lists PAPER perpetuals: Hyperliquid does not publish liquidations, so none are shown. The scanner flagged 9 volume spikes on PAPER in the last 24 hours.
PAPER open interest and funding history
· From recorded history, hourly
PAPER open interest is $2.19M, up 3716.4% since 12:00 UTC on 18 Oct. PAPER funding has averaged 0.1028% per 8 hours since 12:00 UTC on 18 Oct (≈113% APR), positive in 67% of hourly readings, so longs mostly paid shorts.
PAPER price
Loading chart…
Not recorded Chart: TradingView Lightweight Charts™
PAPER open interest
All perps, USDLoading chart…
Not recorded Chart: TradingView Lightweight Charts™
PAPER funding rate
OI-weighted, 8hLoading chart…
Not recorded Chart: TradingView Lightweight Charts™
PAPER CVD and taker flow
Spot vs perp, from range start · bars: net taker buysLoading chart…
Not recorded Chart: TradingView Lightweight Charts™
PAPER markets: funding rate & open interest by exchange
Funding as 8h equivalent (hover for APR) · OI changes need history| Market | Price | Price 1h | Price 24h | 24h volume | Funding 8h | Open interest, USD | OI 1h | OI 4h | OI 24h | Trade |
|---|---|---|---|---|---|---|---|---|---|---|
| Hyperliquidperppara:PAPER | 0.02773 | +3.47% | — | $8.14M | -0.0279% | $2.19M | +53.32% | — | — | Trade |
Trade links go to the exchange and may be referral links.
HL New to Hyperliquid?
Code VOLUMEMONITOR saves 4% on fees for your first $25M of volume. New wallets only: use it before your first trade.
Referral link · availability depends on your country
PAPER long/short ratio
All coins' long/short ratios →No current long/short ratio observations are available for PAPER. Feed coverage may be absent or observations may be delayed or expired. See the coins that are tracked →
PAPER volume spikes
See live spikes for all coins →| Time | Venue | Type | Side | $ in 1m | × normal | Buy % | +5m | +15m | +1h |
|---|---|---|---|---|---|---|---|---|---|
| 19m ago | HL perp | VOL | BUY | $201K | 15.5× | 81% | +3.35% | -5.11% | — |
| 21m ago | HL perp | VOL | BUY | $76K | 6.7× | 62% | +3.45% | -1.93% | — |
| 28m ago | HL perp | VOL | MIXED | $99K | 8.8× | 54% | -5.31% | -2.02% | — |
| 2h ago | HL perp | VOL | SELL | $244K | 4.1× | 19% | +9.73% | +16.93% | +6.47% |
| 2h ago | HL perp | VOL | BUY | $218K | 12.6× | 63% | -8.69% | -1.77% | -7.04% |
| 2h ago | HL perp | VOL | BUY | $324K | 661.2× | 89% | -5.35% | -14.33% | -11.02% |
| 2h ago | HL perp | VOL | BUY | $79K | 176.3× | 66% | +1.37% | -10.14% | -6.30% |
| 2h ago | HL perp | VOL | SELL | $520K | 1774.6× | 33% | -7.74% | -7.76% | -12.52% |
| 2h ago | HL perp | VOL | BUY | $150K | 785.9× | 71% | +18.27% | -0.66% | -6.62% |
Newest first, up to 100. +5m / +15m / +1h show the price change after each spike and fill in as time passes. They describe the past, not a prediction.
PAPER liquidations: long vs short
All liquidations →PAPER perps trade only on Hyperliquid (a HIP-3 builder-deployed market), which does not publish a liquidation feed.
About the PAPER numbers
PAPER funding rate
Perpetual futures have no expiry, so exchanges keep their price close to spot with periodic funding payments between longs and shorts. A positive PAPER funding rate means longs pay shorts (more demand for leveraged longs); negative means shorts pay longs. Rates here are converted to an 8-hour equivalent so exchanges with 1h, 4h and 8h intervals compare directly.
PAPER open interest
Open interest is the USD value of all open PAPER perpetual positions. Rising OI alongside a price move means new positions are opening; falling OI means positions are closing (including liquidations). OI changes are measured from 5-minute snapshots.
PAPER liquidations
A liquidation is a leveraged position the exchange closed by force. Long liquidations are forced sells that hit when price drops; short liquidations are forced buys when price rises. The long/short split shows which side was caught.
PAPER volume spikes
A spike is a minute where one PAPER market traded at least 4× its normal minute volume, with a size floor. Buy % is the share of taker buys. The +5m / +15m / +1h columns show what price did afterwards. They are history, not a signal. Not financial advice.