Paper Hedge Farm
Papertrade's issuance mechanism is about to change
Announced on Oct 19: after the upgrade, each $1 lost mints PAPER as a fixed share of total supply, with no supply cap, so the dividend share of PAPER already held will keep being diluted. The upgrade date and final parameters are yet to be announced. On upgrade day the cost per PAPER rises, then falls as supply grows. Payback periods will change accordingly, so payback and APR estimates are paused on this page. Participate only within your own risk tolerance. Read the mechanism breakdown →
What is PAPER worth
Last 24h dividends · —
What this tool gives you
- More PAPER for the same money: plain loss / liquidation mining costs ≈ — U per PAPER; this strategy with the current parameters ≈ — U (incl. 0% service fee), saving —% per PAPER — for the same 1,000 U lost, plain mining yields — PAPER and this strategy — PAPER, —× as much.
- Works without the hedge — hosted stop/take: for any position you already opened on the Paper site, enter stop / take prices in the Positions table below and the server watches around the clock and closes it when the price arrives; or tick it into the strategy. Hosted stop/take is free of service fee.
- Automated, but check on it: the server keeps one long and one short in your account under your parameters, closes a leg when it hits its stop or take and reopens it at the current price, even with your browser closed. Paper orders go through a relayer queue, so the two legs often drift out of balance or one leg is left over — look at your positions and the run log a few times a day and fix imbalances promptly.
- Open/close permission only: you authorize a session key that can only open and close positions inside your Paper account; it cannot withdraw, transfer or touch any other asset in your wallet, and you can revoke it any time.
Positions the strategy opens count as its legs automatically; positions opened on the Paper website or manually must be selected and adopted. After the strategy is turned off, its legs are still remembered — you can remove them from the strategy or set manual stop loss / take profit.
Account positions Hosted stop / take
| #ID | Side | Margin × Leverage | Entry | Change | Stop price | Take price | Managed by | ||
|---|---|---|---|---|---|---|---|---|---|
| Shown once you connect your Paper wallet | |||||||||
Manual stop loss / take profit has three states: not set / edited, not saved (amber tag — press "Save & apply") / active (green tag — the server is watching and will close the position for you when the price is hit). Auto strategy legs' stop loss / take profit aren't edited here; change the parameters in the right column.
Triggers use the Hyperliquid public order-book mid price, the same source Paper settles against. A Close has to be batched on-chain by Paper, and the fill price is the mid price at the execution block, a few seconds later.
Activity log
Shown after authorization
Start hedged farming
Not for beginners. This deliberately loses money to earn PAPER: the margin you put in is lost stop by stop, and all you get back is non-transferable PAPER and its dividends. Only use money you are willing to lose entirely.
You can tune parameters and see estimates without logging in; log in and connect your wallet when you press "Start in one click" below.
Presets
At least 30 USDC (Paper minimum 10 per leg, plus one share of reserve)
Reserve 0 does not cover one stop (30); lower the per-leg margin.
- Margin per leg
- Notional per leg
- 10,000
- of which reserve (funds re-opens after a stop and covers queued take-profit payouts)
- 0
- Cost budget (USDC)
- 0 · auto = total deposit, stops when spent (change in “Custom”)
- stop loss
- 0.3%
- take profit
- 0.6%
Reserve 0 does not cover one stop (30); lower the per-leg margin.
Risk notice: Barker provides yield information and campaign distribution only and does not constitute investment advice; it has no recommendation, endorsement, guarantee, or agency relationship with the protocols or projects shown here. Deposits enter third-party on-chain protocols, and both principal and yield carry risk. Do your own research and decide independently — you bear all risk.
Main risks of hosted execution: Paper's rules and interfaces change often, the strategy can end up one-sided, relayer queuing can move fills away from the trigger price, and every figure is an estimate. Full list:
Limits
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