ETH Split Pair

Thesis

Opens an ETH long and short together, cuts the losing side early and lets the winning side run to a bigger gain.

Strategy

• Entry: Opens an ETH long and an ETH short at the same time, each with 25 USDC margin at 200x. • Exits: Closes the first leg to lose 20% of its margin, then holds the other until it gains 30% or more. • Repeat: Opens a fresh pair as soon as both legs are closed.

Exposure

• Holds: ETH long and short — While both legs are open the bets offset; after the first close, one ETH bet stays open. • Venue: Papertrade — Start with USDC on Papertrade; your funds and positions stay in your Papertrade account. • Leverage: 200x per leg — A move of about 0.5% against the remaining leg can wipe out its margin. • Costs: Winning-close fees — Winning closes lose a small move-based cut and a 2% fee; losing closes pay nothing extra. • Data: Circuit — Uses Circuit's ETH prices and your Papertrade account. • On unwind: Open legs stay — Stopping leaves any open leg on Papertrade to close yourself; USDC and PAPER stay there.