PaperTrade has launched perpetual futures trading on HyperEVM today, October 10, with approximately $85.3 million already deposited according to DefiLlama data. The platform enters the market with significant pre-launch capital despite operating under a unique liquidity model. The venue's house pool begins at zero, meaning winning traders may experience delays in receiving payouts until sufficient losses are generated by other participants to fund distributions. This structure ties payout availability directly to trading activity and counterparty losses within the ecosystem.