PAPER MILL

Thesis

One 10 USDC BTC position at 1000x on Papertrade that takes profit on a tiny move, earning PAPER on every close.

Strategy

• Entry: Opens one BTC long (or short, by setting) with 10 USDC at 1000x whenever no position is open and 10 USDC is free. • Exit: Closes once BTC moves 0.05% in its favour; a move of about 0.1% against it liquidates the position instead. • Repeat: Reopens right after each close while at least 10 USDC remains.

Exposure

• Holds: One BTC position — A single 10 USDC BTC position on Papertrade; unused USDC and earned PAPER stay in your Papertrade account. • Venue: Papertrade, prefunded — Trades from the wallet you start it on; fund your Papertrade balance with at least 10 USDC first. • Leverage: 1000x — 10 USDC controls 10,000 USDC of BTC, so a move of about 0.1% against it wipes out the 10 USDC. • Costs: Win haircut, 2% fee — Winning closes pay Papertrade's move-dependent haircut and a 2% fee; losing closes pay nothing extra. • Data: Circuit — BTC price from Circuit's Hyperliquid prices; no outside services. • On unwind: USDC on Papertrade — An open position stays open after stopping until you close it; you get USDC back in Papertrade.