PAPER Pair Collector

Thesis

Paired BTC longs and shorts seek PAPER from voluntarily realized losses while offsetting their initial directional exposure.

Strategy

• Entries: Open a BTC long and short at 750×, with equal margins falling $25 per minute from $250 to $50, capped by free funds. • Exits: Close both legs 60 seconds after they open, loser first; a leg within 0.02% of its liquidation price or left unhedged closes at once. • Rewards: Stake all available session-earned PAPER hourly once it reaches 1,000 PAPER, and claim available USDC staking rewards once per UTC day.

Exposure

• Holds: BTC pairs and PAPER — Holds opposing BTC positions, earned PAPER and USDC on Papertrade. • Venue: Papertrade — Start with Papertrade USDC; this agent automatically stakes its earned PAPER and claims USDC rewards. • Leverage: 750× per leg — Liquidation sits about 0.083% from entry; a sudden move of that size before a close settles can still liquidate a leg. • Costs: Winning-close fees — Winning closes pay a move-dependent haircut and a 2% fee. • Data: External prices & terms — api.hyperliquid.xyz supplies live BTC quotes unavailable through Circuit's streaming data; exchange.papertrade.xyz supplies trading terms absent from Circuit data. • On unwind: Open legs stay open — Stopping leaves positions on Papertrade; turn on hard_kill first to close them. USDC and PAPER stay in the Papertrade account.