Papertrade tax records
Papertrade runs on HyperEVM, and your trades settle inside its exchange contract rather than as token transfers to your wallet. That's why general crypto tax tools often show nothing, or only your deposits. PaperTax reads your Papertrade account history directly.
What PaperTax records
- Closed positions: the realised profit or loss of each close, with the fee you paid.
- Liquidations: a realised loss, recorded separately so they're easy to find.
- PAPER minted on a losing trade: recorded as received, at $0, and flagged for review (see below).
- Staking: stakes and unstakes are recorded as movements; claimed rewards are recorded as income for review.
- Queued profits: profits waiting to be paid out are shown so they're not missed or counted twice.
How is PAPER treated?
There's no settled answer. PAPER minted on a losing trade is non-transferable and has no reliable price when it's minted, so PaperTax records it at $0 and flags it. If you later sell or use it, that later event is where value usually shows up. Talk to your tax agent about your position.
Papertrade alongside Hyperliquid
Most Papertrade traders also trade on Hyperliquid. One wallet address covers both: PaperTax shows Hyperliquid perps, each HIP-3 market and Papertrade as separate venues, and you can include or exclude each before exporting.
How to get your numbers
- Paste the wallet you trade Papertrade with at papertax.xyz.
- Pick your country and tax year (Australia, US, UK, Canada or New Zealand).
- Check the Papertrade venue, then export for Koinly, Crypto Tax Calculator or your accountant.
Questions
Why doesn't Koinly show my Papertrade trades?
Papertrade trades settle inside its exchange contract rather than as token transfers to your wallet, so wallet-based tax tools don't see them. PaperTax reads the account history and exports it as a CSV those tools can import.
How is PAPER from Papertrade taxed?
There is no settled treatment. PaperTax records PAPER minted on a losing trade at $0 and flags it for review with your tax agent.
Do I need to connect my wallet?
No. PaperTax only needs your public wallet address and never asks for keys or signatures.