The Dead Edges Ledger
In November 2026 we tested 101 trading rules across 40 ideas that traders are told work: whale alerts, ETF flows, funding arbitrage, Telegram calls, on-chain indicators and more. 91 failed. Every one is listed here, including the ones that hurt.
Each rule was written into a lock file before any result existed, and the first 16 characters of that file's sha256 fingerprint are shown beside it. The score is the t-statistic on data the rule had never seen, after exchange fees and funding. A rule needed 3.0 or more to pass, plus a set of checks: still positive with higher costs, still positive without its five best weeks, and better than random entries at the same moments.
The two rules marked passed are the same trade measured two ways. We then tested that trade again on other exchanges, and it failed there. Read what happened. So of 101 rules, none is a proven edge today.
| Idea | Rule tested | t | Verdict | Locked |
|---|---|---|---|---|
| Academic trend factor | H1 CTREND-style trend factor (JFQA 2025): weekly long top/short bottom quintile of forecast from 7 price-MA + 6 volume-MA rank signals, trailing-52wk CS-regression weights, hold 7d, week-clustered | -0.04 | failed | 2026-11-11 f9482729d1b2fca4 |
| Binance monitoring tag | H1 short Binance Monitoring-Tag additions vs top-50 alt basket, 7d, entry 1-5h after announcement (12 TEST week-clusters) | -1.20 | failed | 2026-11-11 47808e93de5c0fad |
| Binance monitoring tag | H2 short Binance Monitoring-Tag additions vs top-50 alt basket, 30d (11 TEST week-clusters) | -1.06 | failed | 2026-11-11 98623debcec34ce8 |
| Binance monitoring tag | H3 long Monitoring/Seed tag removals vs top-50 alt basket, 7d (4 TEST week-clusters) | -0.14 | failed | 2026-11-11 3ee0a9aa72dd5e01 |
| Bitcoin ETF flows | H1 follow US BTC ETF net-flow surprise |z20|>=1, BTCUSDT 24h from 12:00 UTC next day | -0.26 | failed | 2026-11-11 6925b2ecb9e91754 |
| Bitcoin ETF flows | H2 same signal, BTCUSDT 72h, week-clustered | +0.16 | failed | 2026-11-11 7fafc53893b11a04 |
| Bitcoin ETF flows | H3 same signal, top-20 turnover alts 72h equal-weight, week-clustered | +1.26 | failed | 2026-11-11 33d98b9e29287cc7 |
| Bitcoin on-chain indicators | H1 hash ribbon weekly BTC timing: long if SMA30>=SMA60 hash rate else short, 7d, Monday entry, 2d pub lag | +0.97 | failed | 2026-11-11 bee2cd01f9d4c53b |
| Bitcoin on-chain indicators | H2 Puell (7d/365d miner rev USD) weekly BTC timing: long if <1 else short, 7d | -1.14 | failed | 2026-11-11 0db943f30ad14364 |
| Bitcoin on-chain indicators | H3 difficulty-adjustment sign: long BTC after negative adj, short after positive, hold to next adj (<=14d); TRAIN t+0.85 opposite sign | -2.23 | failed | 2026-11-11 f512c092e4df3a13 |
| CME gaps and options expiry | CME gap fade: |gap|>=1% at Sun reopen, TP at Fri CME close, time exit next Fri close (BTCUSDT 1h) | +0.18 | failed | 2026-11-10 03ee8f4339dbfff2 |
| CME gaps and options expiry | Deribit monthly expiry: fade 7d pre-expiry BTC move, Fri 08:00 -> Mon 08:00 UTC | -0.10 | failed | 2026-11-10 9ef8e03d2827a59d |
| CME gaps and options expiry | Weekend long BTC Sat 00:00 -> Mon 00:00 UTC | +0.17 | failed | 2026-11-10 3b90bed77aa88b5a |
| Coinbase premium | H1 Coinbase BTC/ETH 24h premium z(30d) >=+1.5 long / <=-1.5 short perp, hold 24h, week-clustered | +0.24 | failed | 2026-11-11 5190a887a3050f18 |
| Coinbase premium | H2 daily XS: long 5 highest / short 5 lowest 3d Coinbase-vs-Binance spot premium alts, hold 24h, day-clustered | +0.44 | failed | 2026-11-11 b35e7444529f6f49 |
| Copy-trading leaderboards | CEX leaderboards: only OKX has an official public API, giving current leaders only (survivor-biased) with 12w weekly PnL / 3m positions, so <30 clean clusters; no prereg | — | not testable | 2026-11-11 none |
| Corporate token treasuries | H1 short token perp/long BTC 14d from 00:00 UTC after first SEC 8-K announcing a <token> treasury (DAT), week-clustered (21 TEST clusters; TRAIN t-1.87 opposite) | -0.31 | failed | 2026-11-11 fa8714579a1a3a36 |
| Developer activity | H1 GitHub main-repo commit growth (91d vs prior 91d) top-vs-bottom tercile, monthly market-neutral, ~61 coins | +0.16 | failed | 2026-11-11 ea7e3095cfa81eda |
| Developer activity | H2 GitHub main-repo distinct-author growth (91d vs prior 91d) top-vs-bottom tercile, monthly market-neutral | +0.50 | failed | 2026-11-11 1fe357b1ea058631 |
| Do good Telegram channels stay good | H1 follow top-3 TG providers by trailing-30d basket-hedged mean, next week, 24h hold (11 TEST weeks; fails drop-best-5 and 1-bar-late) | +1.41 | inconclusive | 2026-11-11 9e3629db654f631a |
| Do good Telegram channels stay good | H3 weekly Spearman IC trailing-30d provider score vs next-week adj return (mean IC +0.11 TEST, +0.03 all 24 wks; inside null band) | +1.26 | inconclusive | 2026-11-11 a0e0fd49cde4e656 |
| Do good Telegram channels stay good | H2 fade bottom-3 TG providers by trailing-30d basket-hedged mean, next week, 24h hold | -0.04 | failed | 2026-11-11 748d4aaa7e471c50 |
| Fear and Greed Index | H1 FNG<=25 -> long BTCUSDT 14d, entry D 04:00Z, week-clustered | -0.16 | failed | 2026-11-11 84030a7564ee5328 |
| Fear and Greed Index | H2 FNG>=75 -> short BTCUSDT 14d, entry D 04:00Z, week-clustered | -0.90 | failed | 2026-11-11 f48d0a048457fdb0 |
| Fear and Greed Index | H3 FNG(D)-FNG(D-7)<=-15 -> long top-20 liquid alts 7d, week-clustered | +0.88 | failed | 2026-11-11 55c3398b27e94dcf |
| Fed, CPI and jobs days | H3 pre-FOMC drift: long BTC+ETH T-24h -> T, FOMC only; 25 TEST clusters <30 (point estimate zero) | -0.04 | inconclusive | 2026-11-11 becbc3360d3fd9b3 |
| Fed, CPI and jobs days | H1 long BTC+ETH perps T-24h -> T before every FOMC/CPI/NFP release (30m bars, event-clustered) | -0.14 | failed | 2026-11-11 50354896b33d3cef |
| Fed, CPI and jobs days | H2 trade sign of BTC first-1h move after FOMC/CPI/NFP, BTC+ETH T+1h -> T+24h | +1.43 | failed | 2026-11-11 dcdea55ab879f79a |
| Free-token listings, other exchanges | X1 replication on Bybit Launchpool/OKX Jumpstart: short farmed token vs BTC 14d, n23 G20 mean +8.97% median +31.3%; pre-2025 t-0.03, 2025+ t+5.77 (n8); null 95th +2.31 -> 2025 regime effect | +0.62 | failed | 2026-11-12 7846a144dedd1eaa |
| Free-token program listings | H1 short Binance Launchpool/HODLer/Megadrop token perp vs long BTC equal notional at listing-bar close, hold 14d, 0.214% RT + funding, week-clustered | +4.15 | passed | 2026-11-11 6243901b1b367573 |
| Free-token program listings | H2 naked short farmed-token perp at listing-bar close, hold 30d, 0.107% RT + funding (same 59 TEST events as H1) | +5.04 | passed | 2026-11-11 b1ca98ce3087e804 |
| Free-token program listings | H3 pre-market perp (>=24h before spot) short vs BTC from spot-listing bar, hold 7d | +0.24 | failed | 2026-11-11 8aebad71e051f252 |
| Funding rate arbitrage | H1 Binance-Bybit funding arb: |72h funding diff|>=0.30% -> short high venue/long low, 7d, 4x0.055% (no TRAIN: Bybit daily klines only from 2024-02-10) | +0.73 | failed | 2026-11-11 5733ef70625b1a3d |
| Funding rate arbitrage | H2 Binance-Hyperliquid funding arb, same rule (TRAIN t+11.59 2023-24, decayed to ~0 in 2025-26) | +0.92 | failed | 2026-11-11 435e20c10e09a4de |
| Funding rate arbitrage | H3 long top-3/short bottom-3 by HL-minus-Binance 24h funding, Binance perps 24h hold | +0.34 | failed | 2026-11-11 57822c851ca5d85b |
| Futures basis | H1 BTC/ETH perp contrarian on COIN-M quarterly ann. basis vs trailing-365d p10/p90, hold 7d | -1.57 | failed | 2026-11-11 03dcc219c90ccce5 |
| Futures basis | H2 BTC/ETH perp on (quarterly ann. basis - 7d perp funding) p10 short / p90 long, hold 7d | +0.22 | failed | 2026-11-11 deefd2780f5bf1f9 |
| Futures basis | H3 short BTC/ETH perp after 7d basis change < trailing p10 and <0, hold 7d | -0.03 | failed | 2026-11-11 c4f4adf85aeadd76 |
| Hyperliquid vaults | H1 HL vault persistence: every 14d deposit top-5 vaults by trailing 30d return (AV>=$50k), hold 14d, net of leader commission | -2.74 | failed | 2026-11-11 caee3edc16a21763 |
| Ideas from forums | H1 long Binance perp 72h after funding interval shortened on negative cap (prev rate<=-0.25%), naked (median -4.3%, drop-best5 t-1.53; lottery tail) | +1.33 | failed | 2026-11-11 2d6a9bca8d398690 |
| Ideas from forums | H2 same events, long coin/short BTC 72h (TRAIN t+2.19; drop-best5 t-1.32; median -4.1%) | +1.46 | failed | 2026-11-11 235ff056f3412df2 |
| Ideas from X | H1 long Binance perp at first hourly-funding switch w/ negative funding (floor hit), hold 72h, week-clustered (median -4.4%, drop-best5 t-1.59) | +1.14 | failed | 2026-11-11 a8f7296243491bd6 |
| Ideas from X | H2 same events, long perp 24h, day-clustered | +0.37 | failed | 2026-11-11 fb5e0995c3d89f6e |
| Ideas from X | H3 same events, long perp / short BTC 72h, week-clustered (inside null 5-95 band -0.45..2.06) | +1.27 | failed | 2026-11-11 fdb9bf17861b2cc9 |
| Kimchi premium | H1 SHORT coin when Upbit rel premium (vs BTC premium) >= 30d median +5pp, hold 72h | +0.00 | failed | 2026-11-11 3653c9df120f24bd |
| Kimchi premium | H2 BTC kimchi premium dev vs 30d median >=+2pp SHORT / <=-2pp LONG BTCUSDT 72h | -0.54 | failed | 2026-11-11 f386a955cf8e0f63 |
| Kimchi premium | H3 SHORT coin when Upbit/Binance volume share >= 5x 30d median, hold 72h | -0.38 | failed | 2026-11-11 9eab713a64faf737 |
| Korean exchange listings | H1 long Binance perp ~1-2min after Upbit KRW listing notice (close bar 1), exit +60min | -0.06 | failed | 2026-11-11 c29950780ee19f06 |
| Korean exchange listings | H2 long Binance perp ~5min after Upbit KRW listing notice (close bar 4), exit +4h | +0.01 | failed | 2026-11-11 3e226cf24e00d108 |
| Korean exchange listings | H3 short Binance perp 1h after Upbit KRW listing notice, exit +24h (median +5.7% but left tail to -147%) | +0.03 | failed | 2026-11-11 6343631bd3bc2617 |
| Nasdaq, VIX and bond yields | H1 Nasdaq-100 vs BTC same-window beta-gap |z|>1 -> trade BTC toward catch-up, enter 00:00 UTC, hold 24h | -0.58 | failed | 2026-11-11 77057e66f9a4772c |
| Nasdaq, VIX and bond yields | H2 VIX close +10% d/d -> long BTC 00:00 UTC, hold 72h | -0.11 | failed | 2026-11-11 ab225dfea717fff6 |
| Nasdaq, VIX and bond yields | H3 US10y |dy|>=7bp -> BTC opposite to yields, enter 00:00 UTC, hold 24h | -0.20 | failed | 2026-11-11 b3d6bea710f5560c |
| New spot listings | H2 same events, short perp hold 7d (TRAIN mean -1.55% opposite sign -> not CONFIRMED; +0.2% cost t+2.94; drop-best5 t+1.85) | +3.02 | candidate | 2026-11-11 1ea4853568c9ca1e |
| New spot listings | H1 short Binance perp 1-5h after Binance/Coinbase spot listing start of an existing perp, hold 24h | +0.52 | failed | 2026-11-11 6f83b63f1ad998b2 |
| News tone and volume | H1 GDELT bitcoin tone z<=-1.5 & volume-share z>=+0.5 (60d) -> long BTC 04:00 UTC next day, hold 72h | -0.44 | failed | 2026-11-11 1fc7035dee5d8513 |
| News tone and volume | H3 GDELT bitcoin tone 7d mean vs prior 28d: above -> long BTC 7d, below -> short, weekly Monday 04:00 UTC | +0.91 | failed | 2026-11-11 6bcaa9dee818774d |
| News tone and volume | H2 GDELT per-coin news-volume-share spike (z>=3 vs 30d, count>=20) -> short coin / long BTC 04:00 UTC next day, hold 72h, 47 alts | -0.50 | failed | 2026-11-11 cb339b023cd218cb |
| Options volatility | H1 VRP pct>=0.8 long / <=0.2 short BTC,ETH perps 7d weekly | +1.08 | failed | 2026-11-10 d9c599bf6a22108d |
| Options volatility | H2 DVOL 1d jump >=p95 -> long same perp 72h | +0.92 | failed | 2026-11-10 ee95d794048a3286 |
| Options volatility | H3 BTC VRP regime -> top20 alt basket long/short 7d | -0.39 | failed | 2026-11-10 6cf04ce316596ecc |
| Pairs trading | H1 Engle-Granger pairs (GitHub stat-arb repos): top-30 liquid perps, 90d formation, 5 most-cointegrated pairs, trade |z|>=2 -> 0 (stop 4) over next 30d, daily closes, week-clustered | -0.12 | failed | 2026-11-11 98b1359780f31d01 |
| Pairs trading | H2 distance-method pairs (Gatev): 5 min-SSD pairs of top-30 perps, 90d formation, |z|>=2 -> 0 over next 30d (TRAIN t+1.61 decayed) | -0.81 | failed | 2026-11-11 a9c94812beb6bb80 |
| Prediction markets | H1 Kalshi daily BTC ladder longshot: 6h pre-settle take the expensive side of strikes priced 0.02-0.15, taker fee, week-clustered (TRAIN t-0.48 opposite; +$0.01/contract stress t+0.46; not tradable from AU) | +3.33 | failed | 2026-11-12 faa0925b9d322123 |
| Prediction markets | H2 Kalshi vs DVOL-lognormal: 6h pre-settle take model side when |P-mid|>0.10, taker fee, week-clustered (TRAIN t-3.00; model loses to Kalshi) | -1.93 | failed | 2026-11-12 0b2642bfadc5158c |
| Prediction markets | H3 Kalshi-implied median vs Binance BTC perp: z>TRAIN p90 long / z<p10 short, 4h hold, 0.107% RT + funding, day-clustered (TRAIN t-1.42) | -1.80 | failed | 2026-11-12 af1d6cf03f215a5d |
| Pump groups | H2 short low-turnover perp up >=15%/24h at TG LONG call, hold 72h (only 5 events in 7 months; no testable sample) | — | inconclusive | 2026-11-11 b8c8e8089e8385da |
| Pump groups | H1 short low-turnover perp after 4h bar >=+20% on >=10x avg turnover, hold 72h (median +9.7% but left tail to -178%; drop-best-5 t=0.25) | +1.37 | failed | 2026-11-11 6484fdacfee49020 |
| Sector rotation | H1 sector-neutral reversal: long bottom/short top 20% of 3d return minus leave-one-out sector mean, hold 3d, 8 hand-made sectors | -0.81 | failed | 2026-11-11 1acd08f75fdfbf87 |
| Sector rotation | H2 sector momentum: long top-2/short bottom-2 sector EW baskets by 14d return, hold 7d weekly | +0.28 | failed | 2026-11-11 306e647711521601 |
| Sector rotation | H3 sector-neutral reversal 7d residual, hold 7d weekly | -0.38 | failed | 2026-11-11 442efa94bd0106ea |
| Speed-following Telegram calls | H1 follow TG call: enter call direction at first 1m open >= capture+60s, exit +15m, 0.157% RT (Binance UM 1m) | -7.74 | failed | 2026-11-11 2514746669a94b2d |
| Speed-following Telegram calls | H2 fade TG call: enter opposite at message minute +30m, exit +240m, 0.157% RT + funding | -5.27 | failed | 2026-11-11 8ed487f679c93bf4 |
| Spot versus futures volume | H1 within top-third 3d rallies, long top / short bottom quintile of 3d-vs-30d spot-share change, hold 3d, every 3rd day | -1.64 | failed | 2026-11-11 ee9ec0dad74086e9 |
| Spot versus futures volume | H2 long top / short bottom decile of spot taker-buy share 7d minus 60d, hold 7d, weekly | +0.92 | failed | 2026-11-11 510b08b4bec7d9eb |
| Spot versus futures volume | H3 within rallies, long spot-led (dS>0, Bybit dOI<=median) / short leverage-led (dS<0, dOI>median), hold 3d | -1.86 | failed | 2026-11-11 6f6fa4c6bde31ca2 |
| Telegram calls after a run-up | H1 fade TG LONG calls w/ excess pre72 >= TRAIN P80: short coin/long BTC 72h | +0.55 | failed | 2026-11-10 df9cde882a37a52b |
| Telegram calls after a run-up | H2 fade TG SHORT calls w/ excess pre72 <= TRAIN P20: long coin/short BTC 72h | -0.69 | failed | 2026-11-10 80a7c61d3203cfb7 |
| Telegram calls after a run-up | H3 fade TG LONG calls w/ excess pre24 >= TRAIN P80: short coin/long BTC 72h | +0.30 | failed | 2026-11-10 85b813bb6f23467c |
| Telegram copy networks | H1 ride TG network leader call (+60s) until first linked-follower re-post +30m (else 6h), Binance 1m, 0.107% RT + funding, day-clustered | +0.27 | failed | 2026-11-11 ae76cfb590077cca |
| Telegram copy networks | H2 fade first linked-follower re-post (+60s) for 4h, Binance 1m, 0.107% RT + funding, day-clustered | -1.50 | failed | 2026-11-11 d31c77a6bbcb179a |
| Telegram mention counts | Daily at F: SHORT A_72h>=2, LONG A_72h==0, hold 72h. Cluster by WEEK (holds overlap). Stated upfront: ~11 TEST | +1.23 | inconclusive | 2026-11-10 e97fb1f606fe1145 |
| Telegram mention counts | Daily at F: SHORT equal-weight all universe coins with A_72h>=2; LONG equal-weight all universe coins with A_7 | +1.29 | failed | 2026-11-10 eba2b2d3d9447d41 |
| Telegram mention counts | Daily at F: LONG equal-weight universe coins with A_24h>=1 and zero mentions by fixed-set channels in [F-8d, F | -2.18 | failed | 2026-11-10 e2fadb6002348ebf |
| Tether mints | H1 long BTC perp 72h after USDT Issue (ETH+Tron) >=$1B in trailing 24h, non-overlapping, week-clustered (TRAIN t-1.04 opposite; +0.2% cost t1.73; drop-5 t1.11; null 95th 1.69) | +2.27 | failed | 2026-11-11 e9aa93cf008ebd27 |
| Tether mints | H2 weekly USDT net issuance vs trailing 52w median -> long/short BTC 7d from Mon 04:00 UTC (TRAIN t-0.85 opposite) | +1.37 | failed | 2026-11-11 ff9d675e8170440e |
| Tether mints | H3 long top-20 turnover alt basket 72h after USDT Issue >=$1B/24h (TRAIN t-0.29 opposite; drop-5 t0.16) | +1.32 | failed | 2026-11-11 1e292fb47b0da538 |
| Time of day and month | H1 long BTCUSDT perp 21:00->23:00 UTC daily (Quantpedia hours), day-clustered | -1.79 | failed | 2026-11-11 d797c9cdd2f0cfbf |
| Time of day and month | H2 short top-30 alts in the 1h before funding settlement when prior rate >= 0.03% (gross t +1.23, fees kill it) | -1.18 | failed | 2026-11-11 550d4d8664c3d529 |
| Time of day and month | H3 turn-of-month: long BTC+ETH last day 00:00 -> day 4 00:00 UTC, 37 TEST months | -1.08 | failed | 2026-11-11 c17ec05d5761be22 |
| Token unlocks | H1 short token/long alt basket from TGE(first-kline)+365d -7d to +7d (anniversary proxy for 12m cliff) | +1.44 | failed | 2026-11-11 39551d4cef008153 |
| Token unlocks | H2 short token/long alt basket from TGE(first-kline)+365d -30d to +7d | -0.25 | failed | 2026-11-11 143624e2cc561833 |
| Token unlocks | H3 short token/long alt basket from TGE(first-kline)+182d -7d to +7d | -0.50 | failed | 2026-11-11 424f0132b0cec093 |
| Top-trader positioning | H1 L/S 10/10 by day-mean ln(top-trader position LSR / all-account LSR), hold 72h, 3-day rebal, top-100 Binance perps, split 2024-03-01 | +1.44 | failed | 2026-11-11 4f17eea1b026c92c |
| Top-trader positioning | H2 L/S 10/10 by day-mean ln(taker buy/sell vol ratio) continuation, hold 72h (TRAIN t+3.39 did not hold) | -0.01 | failed | 2026-11-11 5a9954d2ad4c8b4d |
| Top-trader positioning | H3 long coins with top-trader LSR>1 and all-account LSR<1, minus EW universe, hold 72h | +1.02 | failed | 2026-11-11 abe709f94e9017d4 |
| Whale trades | H3 whale_hunter feed alerts follow, coin minus BTC 24h (8 day clusters <30) | -2.65 | inconclusive | 2026-11-11 38669c0b1a9707db |
| Whale trades | H1 follow net whale taker flow (aggTrade>=$250k, |NET|>=$1M & >=3% of hour vol) 4h outright, 6 alts | -2.67 | failed | 2026-11-11 d89990f5b99a5717 |
| Whale trades | H2 same events, coin minus BTC 24h pair, week-clustered | -0.28 | failed | 2026-11-11 ca79a23ed39d357d |
| Wikipedia page views | H1 weekly XSEC: short top-quintile Wikipedia attention shock (7d vs prior 30d median), long bottom, 7d hold, 61 mapped coins | -1.17 | failed | 2026-11-11 414b2e456f2ea515 |
| Wikipedia page views | H2 short coin/long BTC 7d after 1-day Wikipedia pageview spike >=5x 30d median (33 TEST week-clusters) | -0.17 | failed | 2026-11-11 390916830852eed5 |
Generated 2026-11-12. Rules are shown as written in the lock files, in research shorthand: “perp” is a perpetual future, “RT” a round trip, “TRAIN” and “TEST” the seen and unseen halves of the data. Research on past data, not financial advice.
The full report
The whole ledger written up as one document, about 8,000 words: for each of the 40 topics, why the idea should work, where the data came from, the exact rules, the result and what killed it. Launch price US$3. You get the report on the next page straight after paying; it reads on a phone and prints to PDF.
A description of how rules behaved on past data. General information, not financial advice.
Have a rule of your own?
We will test it the same way: locked first, fees charged, compared against random entries, and reported whichever way it comes out.