PAPER AGGRO

Thesis

Farm PAPER with larger hedged 150x ETH pairs and faster 0.15% exits, then stake the PAPER to earn USDC rewards.

Strategy

• Pair: Open equal 150x ETH long and short legs using up to half the available USDC each, capped by venue limits and remaining loss budget. • Exit and repeat: Check every five seconds, close both legs on a 0.15% adverse move or near liquidation, and reopen immediately; hard-kill closes without reopening. • Budget and rewards: Stop new pairs at the loss budget, 30% by default; every 30 minutes stake earned PAPER and claim USDC rewards, reusing queued USDC when needed.

Exposure

• Holds: ETH pair and PAPER — Opposite ETH positions backed by USDC, plus earned PAPER staked for rewards. • Venue: Papertrade — Positions and collateral sit on Papertrade; fund the session with Papertrade USDC. • Leverage: 150x per leg — Each ETH leg has exposure equal to 150 times its margin. • Costs: Haircut and winner fee — Winning closes pay a move-dependent haircut and a 2% fee. • Data: Circuit and Papertrade — Circuit supplies ETH prices and positions; exchange.papertrade.xyz supplies venue minimums and haircut terms absent from Circuit. • On unwind: USDC and staked PAPER — Closing returns USDC; earned PAPER stays staked. Hard-kill closes the legs before stopping.