BTC Hedged PAPER Miner

Thesis

Opposing 200x BTC positions pursue PAPER from trading losses while recycling cleared USDC and staking rewards.

Strategy

• Paired entries: Split all spendable USDC equally into concurrent BTC long and short positions at 200x when at least $100 is available and payouts have cleared. • Linked exits: Check each second and close the pair at +50% raw ROI on either leg, or close the surviving leg when its partner disappears. • Reinvest: Claim rewards at $2 and stake receipt-confirmed PAPER at 1,000; below $100, harvest until paired entries can resume.

Exposure

• Holds: BTC pairs and PAPER — Holds opposing BTC positions, USDC collateral and staked PAPER. • Venue: Papertrade — Starts with $200 Papertrade USDC and requires trading authorization. • Leverage: 200x per leg — Each BTC leg has exposure equal to 200 times its margin. • Costs: Haircut and win fees — Papertrade applies its winning-close haircut and fee. • Data: Circuit — Uses Papertrade account state and Hyperliquid BTC prices supplied by Circuit. • On unwind: USDC and PAPER — Closing BTC returns settled USDC; staked PAPER stays staked until separately unstaked.