Paper trading
Polymarket Paper Trading
There is no official "paper mode" gate on Polymarket, so real practice happens in replay: run the decisions you would make against recorded 250ms books and score them on resolved outcomes. This page is the paper-trading recipe that uses history as the simulator.
Figures measured as of 2026-09-24 on the published PolyOrderbooks archive.
The short answer
Replay is the paper desk
A paper desk needs realistic fills, realistic labels, and zero risk. The recorded archive supplies all three: fills priced at the executable side, outcomes as ground truth, and nothing at stake beyond curiosity. The ticket your paper strategy would have taken is a replay query.
The honest framing: paper trading on the venue means paper-trading the record — the venue itself has no sandbox for outsiders, so the archive is the simulator. (sandbox and demo data pages cover the API side.)
Method
The paper-trading loop
Honest
The honest gap
Paper trading removes capital risk, not judgment: your paper desk printed decisions you could take for real, and the honest difference at real size is slippage against the bound's ~42,254-share median rest plus the times you cannot get filled (16.9% one-sided frames).
The gap is the product of the slippage and capacity pages — paper first, cost-then, capital last.
Worked
A paper week
Paper-trade one week of 5-minute BTC windows using an anchor-join rule, executable-side fills, and the outcome column. The runbook produces decisions, fills, and settlement — a practice audit trail with no funds exposed.
If the paper system cannot survive its own recorded re-run, the real one is not ready — order of operations that never risks USDC.
FAQ
Does Polymarket have paper trading?
No official paper account; practice happens by replaying recorded 250ms books and settling on outcomes.
How is fills priced in paper mode?
At the executable side of the recorded ladder, with the archive's fill model; never at an assumed mid.
What does paper practice prove?
Decisions and fill costs — then real capital only after the re-run survives the slippage and one-sided reality.