How to use Paperex
Open the app and place your first spot and futures trades with virtual funds — a 2-minute tour.
How to read an order book
Bids, asks, the spread and depth — what the book is telling you about supply and demand.
Funding rate explained
Why perpetual futures track the spot price, and what positive vs negative funding means.
Liquidation & leverage
How leverage works, where your liquidation price sits, and how to avoid getting wiped out.
Order flow & CVD
Cumulative Volume Delta: reading aggressive buying vs selling pressure in real time.
Trading glossary
Quick definitions for the terms you'll meet on the charts: maker, taker, OI, slippage and more.
Ready to practice?
Apply what you just read on a real matching engine with live market data — risk-free.
Start trading (virtual money) ↗