papertax
Hyperliquid tax reports
Hyperliquid tax report
Paste a wallet and see your year free. Full report for Koinly, CTC, Cryptact or your accountant from $29.
Clients
Accountant plan
| Client | Wallet | Venues | Events | Net result | Status | Added |
|---|
- Read-only, no keys
- Perps, spot, HIP-3, vaults, staking, HyperEVM
- Australia, US, UK, Canada, NZ, Japan, Spain
Trading through a subaccount, a vault or an API wallet? Paste the main account address. Bridged from another chain? Paste the 0x address you use on Hyperliquid, and try the other tax years in the list.
Venues found
| Include | Venue | How it's read | Realised | Losses | Gains | Fees | Funding | Other income | Net |
|---|
Summary
Trading journal
Same data, read as a trader. Free for every wallet.
Where your money went
Fees, funding and liquidations, market by market. Free for every wallet.
| Market | Closes | Win rate | Closed PnL | Funding | Fees | Net | Liquidations |
|---|
Year-end check
| Venue | Open position | Margin | Unrealised PnL | If closed before the tax year ends |
|---|
Ledger
| Time (UTC) | Venue | Event | Market | PnL (USDC) | Fee | Token | Classification | Tx |
|---|
Export
Copy the file and import it into your tax tool. Only included venues are exported.
How it works
- Paste a walletAny public 0x address
- Pick a tax yearSeven countries
- ReviewEvery venue, open questions flagged
- ExportKoinly, CTC, Cryptact or your accountant
Plans
USD. Pay once or subscribe.
Preview
- Summary and trading journal
- First 10 ledger rows
Tax report
- $29 · up to 500 events
- $59 · up to 5,000 events
- $99 · unlimited
- Every export, no account
Trader
- Or $12 a month
- 10 wallets, every year
- API and MCP
Accountant
- $39 from 25 clients
- Client list, bulk export
- API and MCP
How each event is treated
Defaults for an Australian resident individual
Closes at a loss and liquidations
lossRecorded as realised losses. Leveraged perps can be treated as revenue rather than capital, depending on how often and why you trade.
All venuesCloses at a gain
gainRecorded when realised. On synthetic pools the gain is net of the impact haircut; on order books it is before fees, which are listed separately.
All venuesTrading fees
recordListed on each open and close so they can reduce gains or add to losses. Order-book venues charge them; synthetic pools take a haircut instead.
Hyperliquid and HIP-3 marketsFunding payments
needs reviewPaid or received while a position is open. There is no specific ATO guidance; commonly treated as assessable income or a deduction. Flagged for review.
Hyperliquid and HIP-3 marketsStock and commodity perps
income / noteHIP-3 markets such as TSLA or GOLD on trade.xyz are derivatives settled in USDC. You never own the share or the metal, so they are treated like any other perp.
HIP-3 marketsTokens minted on a loss
needs reviewRecorded at $0 while non-transferable and unpriced. May later be argued to be income, or a reduction of the loss.
papertrade, forksProfits waiting in a queue
needs reviewExcluded until paid. When you derive the income may depend on whether you have a right to it before payment.
papertrade, forksStaking payouts
income / noteRecorded as ordinary income at the value on the day received. HYPE rewards are valued at that day's HYPE close.
papertrade, HYPE stakingSpot trades
income / noteBuys set your cost base; each sell is a CGT event. papertax shows Hyperliquid's average-cost result as an estimate and exports the trades themselves, so Koinly or CTC can apply your cost-base method across all your wallets.
Hyperliquid spotVault deposits and withdrawals
needs reviewDepositing into HLP or a vault isn't a sale. Each withdrawal is recorded as a gain or loss against the cost base Hyperliquid reports. Whether that is capital or revenue depends on your circumstances.
Vaults and HLPRewards, commissions and airdrops
needs reviewReferral rewards and vault leader commissions are recorded as ordinary income. Airdropped tokens are generally income at their value when received; papertax lists them for you to value.
Deposits and transfers, vaultsDeposits, withdrawals and transfers
recordMoving funds between your own wallets, HyperCore and HyperEVM is not a sale. Listed for reconciliation; withdrawal and transfer fees are recorded as costs.
Deposits and transfersHyperEVM swaps and DeFi
needs reviewSwaps are CGT events, exported as trades so your tax software applies your cost base. Depositing into Kinetiq, HyperLend or similar for a receipt token may itself be a CGT event; the ATO's view on wrapping and liquid staking is that it can be. Flagged for review. Gas is recorded as a cost.
HyperEVM walletTreasury tokens such as PSTR
income / noteBuying or selling a token such as PSTR is a CGT event, like any swap. papertax records what you actually paid and received, so the token's own 10% fee on each buy and sell is in your cost base or comes off your proceeds. Its treasury's buybacks and burns aren't events for you.
HyperEVM walletHyperliquid tax FAQ
Not tax advice. More in the guides.
How much does a Hyperliquid tax report cost?
The preview is free and needs no account. The full report for one wallet and one tax year is $29 for up to 500 events, $59 for up to 5,000 and $99 above that, paid once by card. The Trader plan is $99 a year (or $12 a month) for up to 10 wallets and every tax year, and the Accountant plan is $59 per client a year ($39 from 25 clients). Prices are in USD, and purchases are final.
What counts as an event?
Each row in your ledger: a position opened or closed, a liquidation, a day of funding on one market, a spot trade, a vault deposit or withdrawal, a staking reward, a transfer or a HyperEVM transaction. The preview shows your count and price before you pay.
What's in the full report?
Every ledger row with its default classification, Koinly, Crypto Tax Calculator and Cryptact CSVs, a plain-text accountant summary, and the audit pack (PDF and JSON) with every figure tied to its transaction hash. The free preview shows the venues, totals, trading journal, analytics and the first 10 ledger rows.
Does papertax cover Hyperliquid spot, HLP vaults and HYPE staking?
Yes. Spot buys and sells, HLP and other vault deposits and withdrawals, HYPE staking rewards (valued at the daily HYPE price), rewards, airdrops, deposits, withdrawals and transfers are all read from your wallet address. Spot trades are exported as trades so Koinly or Crypto Tax Calculator can apply your cost-base method.
Does papertax read HyperEVM, like Kinetiq, HyperLend and swaps?
Yes. papertax reads your HyperEVM wallet: bridges to and from HyperCore, Kinetiq, StakedHYPE, Looped HYPE, HyperLend and Felix deposits and withdrawals, token swaps, tokens received and gas. Swaps and protocol moves are exported as trades for Koinly or Crypto Tax Calculator, and anything unclear is flagged for review. It also spots contracts that copy papertrade.
How are Hyperliquid perpetual futures taxed in Australia?
Realised gains and losses when you close or are liquidated are generally assessable or deductible. Whether they are capital or revenue depends on your circumstances, such as how often and why you trade. Funding payments have no specific ATO guidance. papertax records each item and flags the unsettled ones; it is not tax advice. Australia guide.
How is Hyperliquid taxed in Japan?
Generally as miscellaneous income (雑所得), added to your other income and taxed at progressive rates in the year each position closes; you file a final return (確定申告) between 16 February and 15 March. papertax exports a Cryptact custom file and flags anything unsettled. Japan guide.
How is Hyperliquid taxed in Spain?
Each close is generally a capital gain or loss in the savings base of IRPF (19% to 30%), and staking rewards are savings income. You declare them in the Renta return, filed from April to June. papertax flags anything unsettled for your adviser. Spain guide.
Does papertax support HIP-3 markets like trade.xyz and Paragon?
Yes. papertax reads every HIP-3 builder market through Hyperliquid's public API, including trade.xyz, Paragon, Felix, Ventuals and Kinetiq. Stock and commodity perps such as TSLA or GOLD are USDC-settled derivatives and are recorded like any other perp.
How do I import Hyperliquid trades into Koinly, Crypto Tax Calculator or Cryptact?
Enter your wallet address, choose your tax year, then copy or download the Koinly universal CSV, the Crypto Tax Calculator advanced manual CSV or the Cryptact custom file. Each row links to its on-chain transaction, and opening fees, funding and liquidations are included. Import steps.
How is the PAPER token from papertrade treated for tax?
There is no settled treatment. PAPER minted on a losing trade is non-transferable and unpriced, so papertax records it at $0 and flags it for review with your tax agent. papertrade closes, liquidations, PAPER mints and staking are all read from your wallet automatically.
Are Hyperliquid funding payments taxable?
Probably, but how is unsettled. They are commonly treated as income or an expense, or as part of a position's gain or loss. papertax sums funding per market per day and flags it for review.
Do I need to connect my wallet or share my keys?
No. papertax only needs a public wallet address and reads public Hyperliquid data. It never asks for keys, signatures or exchange logins.
Which tax years does papertax cover?
Australia FY 2025–26 and 2026–27 (1 July–30 June), the United States 2025 and 2026, the United Kingdom 2025–26 and 2026–27 (6 April–5 April), Canada 2025 and 2026, New Zealand 2025–26 and 2026–27 (1 April–31 March), Japan 2025 and 2026, and Spain 2025 and 2026 (calendar years).
Can AI agents use papertax?
Yes. Agents can connect to the MCP server at papertax.xyz/mcp, call the documented API (openapi.json), or read llms.txt for a plain-text guide. Agents can also buy a report themselves with a saved card or in USDC, or open papertax.xyz/tax#address=…&year=…&go=buy to go straight to checkout.
For AI agents and developers
MCP server
Connect any MCP client to papertax.xyz/mcp for summaries, ledgers and exports.
HTTP API
/api/ledger and /api/export. See openapi.json.
llms.txt
A plain-text guide at /llms.txt.