PAPER MILL Review

Thesis

Acquire PAPER through separate BTC long and short positions, aiming to exit before liquidation with a selectable 0.3–1.0% price cut.

Strategy

• Entry: Open a BTC pair only within approved fixed USDC limits; the review defaults place no orders. • Exit: Save the chosen 0.3–1.0% cut for each pair; close on its threshold, liquidation guard, feed loss, exposure limit or operator drain. • Recovery: Reconcile uncertain operations before new orders, and never treat missing positions as proof of liquidation.

Exposure

• Holds: BTC pairs and PAPER — Separate long and short positions can fill at different prices and times. • Venue: Papertrade — Trading uses real USDC; limits require review and authorization before enabling entries. • Leverage: 10–100x per leg — Choose whole multiples; defaults are 50x and a 0.3% cut, subject to fixed spending limits and liquidation room. • Costs: Trading costs and gas — Winning settlements include venue deductions; unpaid winnings and unreported extra costs remain separate. • Data: api.hyperliquid.xyz — Live BTC BBO complements Circuit position and operation records; no other exchange trades are made. • On unwind: USDC and PAPER — USDC winnings may be queued; Stop leaves positions open and performs no liquidation or withdrawal.