Four things worth knowing about how it behaves. If you are a maximalist, three of them will matter to you.
In a downtrend this strategy moves to cash and buys back lower. That is the whole mechanism. If you will never sell a single sat under any circumstance, this is not the strategy for you, and no backtest should change your mind.
Judge it the way you judge everything: did the round trip end with more ethereum than simply holding? That is the only comparison that matters, and it is the one printed on the card below.
When ETH only goes up, holding wins — you cannot beat a rocket by stepping off it. The edge shows up across a full cycle, and above all in the drawdown you never had to sit through. Use the range buttons on each chart and check the bad years yourself.
You get the signal. Your coins stay where you keep them, on your exchange or in your own hands. We never touch them and never ask for a withdrawal key.
The card tells you what the strategy holds right now. “100% on ETH” means fully in ethereum today; “100% in CASH” means fully out. Click the card to open its full record.
One decision a day. It reads the market at the daily close and either stays put or switches side. That is the whole cadence: no intraday moves, nothing to watch in between.
Blue means you are in ethereum, green means you are in cash. The position history inside the card paints one band per holding period, so a whole year of decisions reads at a glance — and you can see exactly which crashes it sat out.
The short side needs a perpetual futures account, and we measured what that costs. Holding a perpetual short means paying or receiving a funding rate every eight hours. We applied Binance's own published history for ETHUSDT to every short this strategy took: the effect is +0.45% on the since-2023 result. It is income, not a cost — ETH funding has been positive 86.0% of the time since 2023, and a short collects it. The figures above leave it out, so they are slightly conservative, not optimistic.
There was a gap, and no trade falls inside it. ETH traded on the spot market long before Binance opened its ETHUSDT perpetual in November 2019 — but this product's window starts well after that date, so not one of its 7 shorts lands in a stretch where the trade would have been impossible to place. That is worth stating rather than assuming: on bitcoin the same gap was two years wide, and cutting the unplaceable trades out of another product in this catalogue cost more than half of its headline figure.
History is a simulated backtest, not money that was made. It shows how the rules would have behaved on past prices, which is useful and is not a promise. Only the part after the go-live date is a live, forward record. None of this is investment advice.