BTC ETH PAPER Farmer

Thesis

Tests whether closing a matched BTC pair before liquidation earns PAPER at a lower net USDC cost.

Strategy

• One pair: Opens one BTC long and one BTC short with $40 margin each at 250×, then never replaces them. • Early exit: Checks each second: a pair exits on a 0.20% adverse move or partner closure; an unhedged leg exits at $12 gross profit or loss. • Measure cost: After both closes settle, reports net USDC cost, PAPER earned and cost per PAPER.

Exposure

• Holds: BTC pair and USDC — Holds one $40 long and one $40 short during the single test. • Venue: Papertrade — Uses an $80 allocation of Papertrade USDC. • Leverage: 250× per leg — Each $40 margin opens $10,000 of BTC exposure. • Costs: Winning-close charges — Winning closes pay a move-based haircut and a 2% fee. • Data: Circuit — Uses BTC prices, owned positions and settled closing results. • On unwind: USDC and PAPER — Closes leave available or queued USDC and any PAPER earned.