Papertrade reports $3B Bitcoin open interest, but its house fund started empty
- —Open interest hit $3B in BTC and $2.66B in ETH within minutes
- —Notional volume topped $14.4B in under ten minutes
- —The project's house liquidity fund started at zero
- —Leverage up to 1000x: $1 of margin controls $1000 of exposure
Why it matters: A zero-balance house fund with 1000x leverage raises the risk that winning positions cannot be paid if trader losses fail to cover them.
Source: DiarioBitcoin