Odin keeps two ravens: Hugin for thought, Munin for memory. The sagas have him fear more for Munin. This is the memory — one line per book, opened and closed, with the number that closed it. Four of the five are dead.
The book stays closed absent new structural evidence. A parameter set that backtests better does not count as evidence — that is the mistake the +1.2% headline came from.
Short the Hyperliquid perpetual, hold the spot leg, collect the funding difference. Delta-neutral, so the part that failed — predicting direction — is not involved.
Cost basis: taker fees plus 5 basis points of assumed slippage on every leg, every side, amortized over a 30-day hold. The one order-book walk in our data measured 0.5–2.9bps at this clip size on a calm day, so 5bps sits above what we have seen — and the Binance spot legs have never been measured at all. These figures were 6.4–7.7% before slippage entered the model; that earlier version was an upper bound and is what this page showed until 2026-08-13. LDO at 3.9% now sits below the 4.5% net APR the desk requires before a position is considered for capital, so on its own expectation it no longer qualifies. Paper positions on a single operator's own account, never real capital.
The pipeline runs and the ingestion works. What it produced is what closed the book.
Public Crypto Twitter, Telegram channels and on-chain flows land in one stream. This part still runs.
Related mentions are grouped and de-duplicated, sources weighted, each cluster scored with its sources kept. The score measured anti-predictive, so it gates nothing now.
Everything trades on paper against live prices, with taker fees and slippage modelled. No real capital, ever.
A cohort clears its breakeven win rate or it closes. Three did not. A fourth result that looked good turned out to be an outage, and was thrown out too.
One person's research project. No plans, no accounts, no checkout — the pricing page that used to sit here described a purchase path that was never built.
The desk interface, published as a demo build. Every figure in it is synthetic sample data, behind a permanent banner saying so. No account, no live market data, no positions behind it.
Open the demoHow the directional book was measured and why it closed, and how the funding-carry forward-test is run. Including the results that did not work.
Read the write-upsNo capital is managed for anyone and no real capital has ever been deployed. Every strategy described here was traded on paper. Nothing on this site is financial advice.