Size and money locked

Aster has about $756 million locked in its perpetual exchange, dwarfing Papertrade’s roughly $24 million. This makes Aster one of the larger derivatives platforms in the data set, while Papertrade remains a niche offering with modest capital.

Activity and fees

Aster processes around $11 million of trading volume each day, generating about $227 thousand in fees. Papertrade shows virtually no daily volume but still records roughly $553 thousand in fees, indicating a different fee structure or user behavior.

Networks and reach

Aster supports nine networks, including BSC, Ethereum, Arbitrum, Solana and others, giving users broad access across major chains. Papertrade is confined to a single network, Hyperliquid, focusing its liquidity and users on that platform.

Who each platform suits

Aster’s large TVL, multi‑chain support and active trading volume make it suitable for traders seeking deep liquidity and diverse chain options. Papertrade’s single‑chain focus and higher fee capture may appeal to users who prefer a specialized environment on Hyperliquid’s synthetic perpetuals.