PAPER MILL ETH 50x

Thesis

Earn PAPER on Papertrade with hedged 50x ETH long/short pairs that close at 1.5% moves, before liquidation, then stake it.

Strategy

• Pair: Hold an equal ETH long and short at 50x, each with up to 45% of session capital, and reopen as soon as a pair closes. • Exit: Close both legs on Hyperliquid's live ETH price once it moves 1.5% against either, loser first; a leg near liquidation or unhedged closes at once. • Budget and stake: Stop opening pairs once net losses reach 45% of capital or the balance drops under 100 USDC; stake PAPER every 30 minutes.

Exposure

• Holds: ETH pair and PAPER — Two opposite ETH positions on Papertrade with USDC margin, plus staked PAPER in the Papertrade account. • Venue: Papertrade — Trades on Papertrade from the wallet you start it on; fund your Papertrade balance before you start. • Leverage: 50x per leg — Liquidation sits a little under 2% from entry, beyond the 1.5% exit; a fast jump can liquidate a leg. • Costs: Haircut and winner fee — Winning closes pay Papertrade's move-dependent haircut and a 2% fee; pairs are sized so even a liquidated leg fits the budget. • Data: External venue feeds — api.hyperliquid.xyz streams live ETH bid/ask prices; exchange.papertrade.xyz supplies haircut terms not in Circuit data. • On unwind: Open legs stay open — Stopping leaves positions on Papertrade; turn on hard_kill first to close them. USDC and staked PAPER stay there.