PAPER MILL

Thesis

Farm PAPER from losing BTC and ETH legs while an opposing position offsets price exposure, then stake earned tokens for USDC income.

Strategy

• Entries: On BTC and ETH, open a long and short together at 50× whenever that coin has no pair, capped by free funds and the smaller side's room. • Exits: Close a pair at a 0.3% move in its coin, close unmatched legs and legs near liquidation; separate orders allow brief one-sided exposure. • Sizing and rewards: Split all free session USDC across the coins that need a pair; stake earned PAPER and claim USDC rewards every 30 minutes.

Exposure

• Holds: USDC, BTC, ETH, PAPER — Opposing BTC and ETH positions plus accumulated PAPER staked for USDC income. • Venue: Papertrade — Uses Papertrade USDC on the session wallet for separate long and short orders. • Leverage: 50× per leg — Each position has exposure equal to fifty times its margin. • Costs: Winning-close deductions — Winning closes pay Papertrade's haircut and winning-profit fee, higher on ETH. • Data: External feeds — Uses api.hyperliquid.xyz for live BTC and ETH quotes and exchange.papertrade.xyz for terms absent from Circuit. • On unwind: USDC and staked PAPER — Closed positions settle in USDC; stopping alone leaves remaining positions open.