Farming cost scenarios

Compare scenarios, not a backtest or a trading recommendation.

Compare positions

Compare long, short and 50:50 paired positions at your chosen leverage levels. Repeated cycles use the same assumptions. PAPER has no assigned dollar value.

Capital and price path

Market parameters

Documented impact curve and 2% fee on adjusted wins.

Starting cash (USDC)

Same starting cash for every row. No borrowing or top-ups.

Margin budget per cycle (USDC)

A pair divides this budget equally; each standalone leg uses the full budget.

Leverage values

Up to four values, separated by commas. Results stay in your entered order.

First price move (%)

From entry; the path reaches this point before the final move.

Final price move (%)

Also from entry, not from the first move. A reversal can liquidate both paired legs.

Both paired legs fill

If unchecked, the short leg never opens. Its half of the budget stays free; no cost is charged for that leg.

Cycles, cash and queued profit

Scheduled cycles

1–60 cycles, or up to 24 with staking. Entries stop at the first funding shortfall.

Minutes per cycle

1–1,440. All surviving legs close at the interval end.

Profit paid at close (%)

The rest becomes a queued claim, never spendable cash.

Queue payment delay (minutes)

Measured from each close. Cash becomes usable at the next cycle boundary after this delay.

Queue recovery at payment (%)

The recovered share becomes cash; the remainder is written off in this scenario.

External cost per opened leg (USDC)

Your combined cost assumption, charged once each cycle in addition to margin.

Assume the LP carve on voluntary losses is waived

Otherwise the documented 2% carve reduces voluntary-loss mint basis. Hard liquidations use the full lost margin. This and payout share are independent sensitivities, not a solvency simulation.

PAPER sensitivity

Starting PAPER per eligible USDC

Optional. Leave blank to keep PAPER and cost-per-PAPER unavailable.

Mint-rate decline per cycle (%)

Up to four decimal places; 0 means constant. This is not the protocol’s stateful mint curve.

Optional staking cash sensitivityModel hypothetical staking distributions

Calculation boundaries and sources

Each cycle repeats entry → first move → final move, with straight segments and percentages relative to that cycle’s entry. A leg crossing the approximate bust threshold loses its full isolated margin and stays closed until the next funded cycle. Survivors close fully at the interval end. Cash returns and mint quantities are posted at that interval end; an earlier liquidation does not create intracycle recycling. Paired legs do not share collateral.

BTC and ETH use the existing documented deadband, move-dependent impact curve and 2% fee on adjusted winning profit. A voluntary losing close uses the loss less the documented 2% LP carve as mint basis unless you waive it; a liquidation uses the full margin. External costs are additional assumptions.

Only paid cash funds entries. Scheduled claim payments are processed at cycle boundaries; unrecovered amounts are written off when due, while claims beyond the horizon stay queued at face value. All existing claims and optional staking distributions continue through the horizon after new entries stop.

Minting uses your explicit PAPER-per-eligible-USDC rate and assumed decline per cycle. It does not reproduce the protocol’s tracked-LP threshold, high-water marks, batch allocation, stateful decay or exact contract rounding. No token price, yield guarantee, live mint entitlement or debt-funded margin is modeled.

Optional staking allocates your entered USDC amount in proportion to stake held at each interval’s start. Your new stake begins earning in the next interval; other stake grows at your assumed rate. Distribution and claiming are separate protocol steps. This model assumes your full allocation is claimed and available as cash at each cycle’s end, with claim delays and claim fees omitted. All claimed income is hypothetical, separate from trading PnL and never reinvested.

Arithmetic uses exact bigint ratios; only display values are rounded. Comparisons allow 60 trading cycles or 24 with staking, and four decimal places for compounding percentages, to keep browser calculations bounded. The model has no fill latency, slippage path, keeper ordering, market retirement, open-interest limits or execution integration. Calculations stay in your browser and are not saved or sent to analytics.

Documentation parameters checked 2026-10-07; not verified live deployment parameters. Impact curve · Mint curve · Queue accounting