Dead bait?? That's how I would set it up if I was using dead bait..
Live bait is different I would get some 50 to 80 pound mono tyeable steel would be better.. tie a hook on one end and run the leader threw the eye of the other.. so the other hook is sliding on the leader.. so you can hook the sucker or other in the nose one trebel hook and the other treble hook in the back of the bait in other words size it to the bait with the sliding hook .. cause you don't know if that is a 3 inch sucker or 8 inch sucker or 5 inch perch or 3 inch perch and so on your using etc etc ..
From that point I run the leader to the tip up via barrel swivel .. above barrel swivel is a bead and a weight and a bead in that order... the beads have the main line ran threw them twice... To use as stops one for the weight the other for the rubber band trick.. with the rubber band trick I use it to stop the bait running and I use it to set hook a tad .. this pic is to show how to hang rubber band of tip up.. I did not run the rest of the main line threw eye of tip up in this photo so just the rubber band is in eye of tip up so make sure to do that..
