How to use Paperex

A 2-minute guide to Paperex — the free crypto trading simulator. Place spot and leverage-futures trades with virtual money on a real matching engine, no login required.

How to read a crypto order book

A clear guide to reading a crypto order book: bids and asks, the bid-ask spread, market depth, and what walls and thin books tell you about supply and demand.

Funding rate explained

What the funding rate is, why perpetual futures use it to track the spot price, and what positive vs negative funding tells you about market positioning.

Liquidation & leverage

How leverage and margin work, what a liquidation price is, why positions get force-closed, and practical ways to avoid liquidation in crypto futures trading.

Order flow & CVD

What order flow and Cumulative Volume Delta (CVD) mean, how to read aggressive buying vs selling pressure, and how CVD divergence with price hints at reversals.

Crypto trading glossary

A concise crypto trading glossary: spot, futures, leverage, margin, liquidation, maker/taker, bid/ask, spread, slippage, open interest, funding rate, CVD and more.