# PaperTrade Uses Hyperliquid Midpoint for Synthetic Pricing

> PaperTrade uses Hyperliquid's midpoint to set synthetic Bitcoin and Ether prices.
- Title: PaperTrade Uses Hyperliquid Midpoint for Synthetic Pricing
- Summary: PaperTrade uses Hyperliquid's midpoint to set synthetic Bitcoin and Ether prices. PaperTrade sets synthetic Bitcoin and Ether reference prices halfway…
- Keywords: papertrade, hyperliquid, synthetic, bitcoin, ether, reference price, crypto, finance, Uses, Midpoint, Pricing, TokenPost
- Source: TokenPost — https://tokenpost.com/news/technology/37326
- Published: 2026-10-22T02:15:49+00:00
- Read time: 1 min
- Topics: papertrade, hyperliquid, synthetic, bitcoin, ether, reference price, crypto, finance
## PaperTrade sets synthetic prices
PaperTrade uses Hyperliquid's top buy and sell quotes to set synthetic Bitcoin and Ether reference prices.
## Changes affect both assets
Changes in Ether quotes can impact reference prices for both Bitcoin and Ether contracts even without matching perpetual positions.
## Protocol-owned pool method
PaperTrade uses a protocol-owned pool to reflect external quote movements without direct trader matching.
## Key takeaway

PaperTrade sets synthetic Bitcoin and Ether reference prices halfway between Hyperliquid's buy and sell quotes.