Papertrade Farm

Thesis

Holds a matched long and short on Papertrade BTC so price moves cancel out, while farming PAPER rewards and compounding them through staking.

Strategy

• Hedged pair: Opens a BTC long and a BTC short of equal size, each half the Papertrade balance at 100x by default. • Rotate and repair: Every 15 minutes it reopens a broken hedge, and closes and reopens the pair after 4 hours to keep farming. • Stake and claim: Stakes earned PAPER once it reaches Papertrade's staking minimum and claims USDC staking rewards into margin.

Exposure

• Holds: BTC long and short — Two equal opposite BTC positions on Papertrade, so gains on one side offset losses on the other. • Venue: Papertrade — Starts from USDC on Hyperliquid, which it moves into Papertrade; the first deposit pays a one-time 1 USDC activation fee. • Leverage: 100x per side — Each side needs at least 10 USDC margin and 1,000 USDC size; a roughly 1% move can liquidate one side, which is then reopened. • Costs: Impact and win fee — Price impact on every open, and Papertrade keeps 2% of winning trades. • Data: Circuit — Papertrade market rules and BTC prices. • On unwind: USDC on Papertrade — Close the positions and withdraw USDC back to Hyperliquid; staked PAPER stays staked until you unstake it.