PAPER MILL v2

Thesis

Earn PAPER on Papertrade with hedged 50x BTC or ETH long/short pairs that close at 0.3% moves, then stake it.

Strategy

• Pair: Send a 50x long and short together, crowded side first, sized to half of Papertrade's room on the tighter side, BTC first and ETH when BTC is full. • Exit: Close both legs once the coin moves 0.3% against either, loser first; a leg near liquidation or left without its partner closes at once. • Budget and stake: Stop opening once net losses reach the budget, 20% by default; a refused coin is skipped 15 minutes; PAPER is staked every 30 minutes.

Exposure

• Holds: BTC or ETH pair, PAPER — Two opposite positions on one coin on Papertrade with USDC margin, plus staked PAPER. • Venue: Papertrade — Trades on Papertrade from the wallet you start it on; fund your Papertrade balance first. • Leverage: 50x per leg — Liquidation sits 1.95% from entry, 1.65% beyond the 0.3% exit. • Costs: Haircut and winner fee — Winning closes pay Papertrade's haircut and a 2% fee; the log shows cost per PAPER. • Data: External venue feeds — api.hyperliquid.xyz streams BTC and ETH prices; exchange.papertrade.xyz gives haircut terms. • On unwind: Open legs stay open — Turn on hard_kill before stopping to close legs; USDC and PAPER stay on Papertrade.