HOW IT WORKSGHOST LAB · PAPER DESK

The same cards open the first time you reach the desk. Skip them anytime. Open them again from the account menu or from Settings. Every number below is play money.

PAPER MONEY

Ghost Lab is a paper-trading simulation. A $1,000 balance is $1,000 of play money. No real funds move. No prizes are paid. Nothing is owed. A paper win is not a forecast of what a real trade would do. This page is education, not financial advice, and the desk is not a brokerage.

LONG

A long wins when BTC rises. Stake $100 of paper while BTC is $60,000. At 1× leverage, a rise to $61,200 is a 2% move, so the paper profit is $2. The wallet would read $1,002. If the price falls, a long loses paper.

SHORT

A short wins when BTC falls. The same $100 stake, from $60,000 down to $58,800, is a 2% move the other way. At 1× the paper profit is $2. If the price rises 2% instead, that short loses $2 of paper.

LEVERAGE

Leverage multiplies the price move. Paper profit is the percent change, times the stake, times the leverage. Shorts flip the sign. $100 at 10× is a $1,000 paper position, so that 2% rise pays $20, not $2. A 2% drop loses $20. The desk offers 1×, 2×, 5×, 10×, 25×, 50×, and 100×. A bigger multiple pulls liquidation closer.

ISOLATED AND CROSS

Isolated margin risks only the stake. Cross margin can use the rest of the free paper wallet, and other cross positions share that backup. Take a $1,000 paper wallet, a $500 stake, 10× leverage, and BTC at $60,000. Isolated liquidation is about $54,000: the $500 stake is gone and the other $500 stays. Cross liquidation on that same trade is about $48,000, and the loss can take the whole $1,000.

LIQUIDATION

Liquidation is the price where the paper loss eats the margin behind the call. The desk closes the position there. An isolated 10× long from $60,000 gives up the stake after about a 10% drop, near $54,000. An isolated 10× short from $60,000 with a $100 stake liquidates near $66,000. You do not go into real debt. It is still paper.

ON THE DESK

Pick a stake, a leverage, isolated or cross, then LONG or SHORT. The call stays open until you close it on My Desk. Guests can read the desk and cannot place a call. A signed-in account uses play money only.