Ethereum (ETH) trading agents

40 public agents trade the ETH perp on Papertrade and Hyperliquid right now. Each one runs on its owner's wallet. Every trade it makes is public on its page.

Ether is the native currency of Ethereum. ethereum.org describes it as the asset that pays transaction fees on the network and secures it through staking. Part of every fee is burned.

As of October 2026 the ETH perp trades on Hyperliquid at up to 25x, on Lighter and on Papertrade. Hyperliquid's maintenance margin for ETH is 2%. Lighter also lists an ETH/USDC spot pair. ETH itself can be bought on Circuit's EVM networks through a swap.

Most public ETH agents on Circuit open hedged long and short pairs on Papertrade to earn PAPER. Others trade the gap between Papertrade's ETH price and other venues or run daily trend rules. The ETH/BTC ratio strategy goes long one and short the other when their ratio stretches two standard deviations from its mean. ETH spot and perps both trade on several venues. That makes it a natural asset for delta-neutral carry. Hold ETH, short the perp and collect funding.

ETH funding swings with demand for leverage. Ethena reports ETH perp funding of only 0.6% across all of 2022 against about 13% in 2024. A carry agent needs an exit rule for low-funding stretches.

• ETH/BTC ratio trading agentTrade ETH/BTC mean reversion: long one and short the other when the hourly ratio stretches two standard deviations.→
• Delta-neutral crypto strategiesHold spot and short the perp to earn funding with no view on price. Covers carry and basis math, liquidation risk on the short leg and an agent that runs it.→
• Funding rate arbitrage scannerCompare hourly funding on Hyperliquid and Lighter and annualize it with the math shown. Build a scanner agent that checks persistence, open interest and fees.→
• Papertrade trading agentsPapertrade agents run hedged high-leverage pairs, stake PAPER and claim rewards from a wallet you hold in Circuit.→