PAPER Shadow

Thesis

Copies one Hyperliquid swing trader's BTC and ETH entries onto Papertrade with $1,000 at 10x, and leaves when the leader leaves.

Strategy

• Follow: When the leader opens BTC or ETH from flat with $100,000 or more, it opens the same direction with $1,000 at 10x if the mid is within 0.3% of the fill. • Exit: Closes when the leader goes flat, flips with the leader, closes on its own when a trade is 9% against it, and stops for good at a $1,500 net loss. • Retry and check: A refused open is retried each minute for five minutes. While a copy is open, each run re-reads the leader's Hyperliquid positions.

Exposure

• Holds: BTC, ETH and PAPER — Up to one BTC and one ETH position of $1,000 margin each, plus staked PAPER. It also manages any $1,000 10x position already on the wallet. • Venue: Papertrade — Watches the leader on Hyperliquid and trades on the Papertrade account of the wallet you start it on; fund your Papertrade balance first. • Leverage: 10x — Each $1,000 of margin controls $10,000 of BTC or ETH; a position is liquidated about 9.95% against it. • Costs: Haircut and winner fee — Winning closes pay a move-dependent haircut and a 2% fee. • Data: Circuit and Hyperliquid — The leader's changes arrive through Circuit's position trigger; his open positions and the midpoints come from Hyperliquid. • On unwind: USDC and staked PAPER — Closed positions return settled or queued USDC; PAPER minted by losing closes is staked and never withdrawn.