What is paper mode?
Paper mode means the trade is modeled. No token moves. No cash moves. The model uses live chain prices. It uses live pool depth. It charges the pool fee. It charges price impact.
Every paper number is labeled. Look for PAPER MODE in the app. The API field is mode: "paper".
Live mode is the other mode. It signs real swaps through the vault. It turns on only when every check passes. See Arm live mode.
| Mode | Fills | Money |
|---|---|---|
paper | In the model | None |
live | On chain, through the vault | Vault funds |
Sample
Section titled “Sample”A paper buy of $1,000 at $96 records a fee and impact. The cash line drops by the net cost. No wallet changed.