PAPER MILL

Thesis

Earn PAPER on Papertrade with hedged 20x BTC long/short pairs that close at 1-2% moves, then stake the PAPER minted.

Strategy

• Pair: Hold an equal BTC long and short at 20x, each with up to half of session capital, and reopen as soon as a pair closes. • Exit: Close both legs, loser first, once BTC moves 1.5% (adjustable 1-2%); a leg near liquidation or unhedged closes at once. • Budget and stake: Stop opening pairs once net losses reach 20% of capital by default; stake minted PAPER and claim rewards every 30 minutes.

Exposure

• Holds: BTC pair and PAPER — Two opposite BTC 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: 20x per leg — Liquidation sits about 5% from entry, beyond the 1-2% exit, so only a sudden jump could 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 supplies streaming BTC bid/ask prices; exchange.papertrade.xyz supplies haircut terms and side caps absent from 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 in the Papertrade account.