ETH PAPER MILL 100x

Thesis

Earn PAPER on Papertrade with hedged 100x ETH long/short pairs, closing small moves so the losing leg mints PAPER.

Strategy

• Pair: Hold one ETH long and short at 100x with the same fixed margin each time, $800 per leg by default. • Exits: Close both at a 0.45% move against either leg; at once on 0.55%, within 0.30% of liquidation, 30 minutes, or a lone leg after 30s or 0.10%. • Budget: No new pairs once net trading losses reach 20% of the starting allocation, frozen in dollars; open legs are still managed.

Exposure

• Holds: ETH pair on Papertrade — Two opposite ETH positions with USDC margin; earned PAPER stays unstaked in the Papertrade account. • Venue: Papertrade — Trades from the wallet you start it on; fund Papertrade USDC first and run no other bot on that wallet. • Leverage: 100x per leg — Liquidation sits about 0.95% from entry; a fast jump before both closes settle can still liquidate a leg. • Costs: Haircut and winner fee — Winning closes pay Papertrade's move-based haircut and 2% fee; that and the losing leg are the cost of each PAPER. • Data: Hyperliquid, Papertrade — api.hyperliquid.xyz streams live ETH prices; exchange.papertrade.xyz gives liquidation buffer and size limits Circuit lacks. • On unwind: USDC on Papertrade — Stopping leaves legs open; turn on hard_kill first to close them, then USDC and PAPER stay in the account.