PAPER MILL

Thesis

Earn PAPER from paired BTC long and short positions on Papertrade, then stake the earned tokens.

Strategy

• Pair: Repeat BTC long and short pairs at 50x using all available USDC split 50/50; $450 starts $225 per side and pairs need $400. • Exit: Close both legs on Hyperliquid's live price at a 1% move, loser first; close a lone leg at a 0.3% move, and any leg near liquidation. • Repeat and stake: Keep cycling while funds meet the pair minimum, without loss stops; stake earned PAPER at 1,000 or more and claim rewards every 30 minutes.

Exposure

• Holds: BTC pair and PAPER — Uses the allocation equally for opposite BTC positions and stakes earned PAPER. • Venue: Papertrade — Fund Papertrade USDC; $450 starts the pair and later pairs require at least $400 at 50x. • Leverage: 50x per leg — $225 margin opens $11,250 of BTC exposure per side; liquidation sits 1.95% from entry, and a leg within 0.3% of it closes at once. • Costs: Haircut and winner fee — Winning closes pay a move-dependent haircut and a 2% fee. • Data: Hyperliquid, Papertrade — Streams Hyperliquid's BTC best bid and ask, the price Papertrade settles at, and reads Papertrade's trading terms before each pair. • On unwind: Open legs stay open — Stopping leaves positions on Papertrade; turn on hard_kill first to close them. USDC and staked PAPER stay in the Papertrade account.