The trader's three short positions held on Papertrade have unrealized profits of approximately $1.34 million.

A trader on the synthetic perpetual futures platform Papertrade is sitting on roughly $1.34 million in unrealized gains from three leveraged short positions on BTC and ETH, according to OnchainLens data dated November 10. The largest contributor is a 250x leveraged ETH short with about $1.07 million in unrealized profit, followed by a 145x BTC short at roughly $145,200 and a 40x ETH short at about $133,000. The account's 24-hour trading P&L stands at approximately $851,850. The outsized returns highlight how high-leverage synthetic perp venues can amplify directional bets during a downturn, though the same leverage cuts both ways. Watch whether the trader closes the positions to lock in gains or holds through further volatility, and whether other high-leverage accounts on Papertrade face liquidation pressure.