Getting Started

This guide walks you through creating an account, generating API keys, and making your first paper trade on Hyperliquid using real mainnet data.

1. 1. Create your account

   Go to the signup page and create a PaperExchange account. No KYC, crypto-only payments, and a 3-day free trial on all plans.

   Open signup

2. 2. Generate an API key

   After logging in, go to your dashboard and create a new API key for Hyperliquid. Keys are prefixed to indicate the exchange, for example:

   pe_xxxxxxxxxxxxxxxxxxxxxxxx

   Keep this key secret. Never commit it to Git or expose it in client-side code.

3. 3. Configure your client

   Update your existing Hyperliquid integration to point to PaperExchange. Only the base URL and API key need to change:

   # Production
   BASE_URL = "https://api.hyperliquid.xyz"
   
   # PaperExchange
   BASE_URL = "https://api.paperx.co"
   API_KEY = "pe_your_api_key"

4. 4. Make your first request

   Call the /info endpoint to fetch current mid prices. This mirrors Hyperliquid's API:

   import requests
   
   BASE_URL = "https://api.paperx.co"
   API_KEY = "pe_your_api_key"
   
   resp = requests.post(
       f"{BASE_URL}/info",
       headers={"X-API-Key": API_KEY},
       json={"type": "allMids"},
   )
   print(resp.json())

5. 5. Place a paper trade

   Use the /exchange endpoint to place a market order using virtual funds:

   order = {
       "type": "order",
       "coin": "BTC",
       "isBuy": True,
       "sz": 1.0,
       "limitPx": None,
   }
   
   resp = requests.post(
       f"{BASE_URL}/exchange",
       headers={"X-API-Key": API_KEY},
       json=order,
   )
   print(resp.json())