PAPER Farm

Thesis

Earns PAPER rewards on Papertrade by holding equal 50x BTC long and short bets, so price moves mostly cancel out while trading volume mints PAPER.

Strategy

• Hedged pair: Opens a BTC long and short at 50x, each using 45% of the trading balance, capped so one liquidated leg fits the remaining loss budget. • Exit and reopen: Closes both legs together when BTC moves 1% from their average entry or nears a liquidation price, then opens a new pair. • Stake and claim: Stakes earned PAPER after each close, claims USDC rewards every 30 minutes and stops opening once losses hit 72% of starting capital.

Exposure

• Holds: BTC long and short — Two equal opposite BTC bets on Papertrade, plus staked PAPER. • Venue: Papertrade — Your USDC sits in your Papertrade account; fund it with at least 1,000 USDC. • Leverage: 50x per side — Each side controls 50 times its margin; a liquidated side loses its whole margin. • Costs: Win fees, price impact — Papertrade takes a fee on winning closes and prices in impact on each open and close. • Data: Circuit — Hyperliquid BTC prices come from Circuit. • On unwind: USDC on Papertrade — Closing both sides returns USDC; staked PAPER stays staked until you unstake it.