BTC PAPER Farmer

Thesis

Matched BTC long and short positions farm PAPER from realised losses while the winning leg offsets part of the USDC cost.

Strategy

• BTC pairs: Opens one matched BTC pair at a time, with 50,000 USDC per leg and 50x leverage by default, shrinking margins to fit available funds. • Close and pause: Watches Hyperliquid's live price and closes at a 0.30% move or half the liquidation distance; payout, minting and cost breakers pause entries. • Farm and compound: Opens at most 30 pairs per hour, stakes balances from 1,000 PAPER and claims rewards from 5 USDC back into the farming budget.

Exposure

• Holds: BTC pairs and PAPER — Equal-margin BTC long and short positions use USDC collateral; earned PAPER is staked. • Venue: Papertrade — Uses Papertrade USDC and waits while Papertrade's intake is paused, rechecking each minute until trading opens. • Leverage: 50x default — Both BTC legs share leverage, raised as needed to meet 10,000 USDC minimum notional; a leg 85% of the way to liquidation closes. • Costs: Haircuts and win fees — Winning closes pay a move-based haircut and 2% fee; the agent tracks USDC cost per PAPER. • Data: Hyperliquid, Papertrade — Streams Hyperliquid's BTC best bid and ask, the price Papertrade settles at, and reads Papertrade's terms and balances. • On unwind: Open legs stay open — Stopping leaves positions on Papertrade; turn on hard_kill first to close them. PAPER stays staked and queued winnings await payout.