// CONFIDENTIAL · TEAR SHEET
Quantitative Digital Asset Alpha.
High-Precision Liquid Strategy
· CUMULATIVE NET
+158.14%
net of all fees
· ANNUALIZED
+71.92%
net return
· SHARPE RATIO
>3.0
annualized
· WORST MONTH
−9.96%
July 2026 · 20 of 21 positive
· DAILY HIT RATE
95.1%
543 of 571 days
· TRACK RECORD
19 mo
Jan 2025 – September 2026
Highstake operates a fully systematic counter-trend strategy on liquid perpetual futures, capturing short-term price dislocations driven by forced flows and leveraged position unwinds. Trading is fully automated across Binance, Bybit, and Hyperliquid, with adaptive risk gating and layered DCA entries acting as a tail-risk control. Strategy design prioritizes capital preservation and a high-frequency, small-per-trade return profile over directional conviction.
// 01 /→ MONTHLY NET RETURNS
// 02 /→ CUMULATIVE PERFORMANCE
vs BTC & S&P 500 · same period
// 03 /→ SUMMARY STATISTICS
| Months observed | 19 |
| Positive / Negative | 18 / 1 |
| Average monthly (geo) | +4.62% |
| Best month | +9.97% |
| Worst month | -9.96% |
| Cumulative net | +158.14% |
| Annualized return | +71.92% |
| HS | BTC | S&P |
| Cumulative | +158.14% | -10.7% | +30.1% |
| Alpha vs HS | — | +171.2pp | +112.1pp |
| Correlation | — | -0.13 | 0.16 |
// S&P 500 and BTC shown for directional context only; strategy is non-correlated to equity beta.
HIGHstake
TEAR SHEET
RISK · TERMS
// 04 /→ RISK-ADJUSTED METRICS
| Sharpe ratio (ann.) | >3.0 |
| Calmar | 5.80 |
| Ann. volatility | +13.45% |
| Max drawdown (realized) | −12.4% |
| Daily hit rate | 95.1% |
| Avg holding period | 62.8 min |
| BTC correlation | −0.13 |
| Strategy type | Systematic counter-trend |
| Execution | Fully automated · zero discretion |
| Margin cap | 3x per position |
| Realised gross exposure | ~0.2x avg · 1.3x peak |
| Venues | Binance · Bybit · Hyperliquid |
| Denomination | USDT · BTC · ETH |
| Capacity | ~$5M per SMA at current liquidity |
// 05 /→ QUARTERLY SNAPSHOT
recent regime performance
Recovery on an unchanged process, on a universe cleaned of low-cap innovation-zone tokens after July. Every closed trade exited above its entry price; the two net-negative outcomes were funding drag on carried positions, not adverse price movement.
trades
201
across 45 symbols
win rate
99.0%
199 of 201 net · 100% gross
positive days
97%
28 of 29
September 2026
single month
+4.48%
No day closed negative and all 290 closed trades were gross-profitable; one finished net-negative after funding. The account ended the month 2.93% below its June 30 peak.
trades
290
across 57 symbols
win rate
99.7%
289 of 290 net · 100% gross
positive days
100%
29 of 29
// 06 /→ SMA TERMS
// On realized net profit only. No fee on AUM or unrealized marks.
IMPORTANT DISCLOSURES
Past performance is not indicative of future results. Digital asset trading involves substantial risk, including the potential loss of the entire invested capital. Highstake LLC is not registered as an investment adviser in any jurisdiction; the fund operates on a private placement basis, available only to qualified allocators meeting the minimum allocation threshold. Returns shown are net strategy returns after trading, funding, and commission costs; before performance fee. S&P 500 and BTC comparisons shown for directional context only; the strategy is non-correlated to equity beta or BTC spot. Headline max drawdown of −12.4% reflects realized losses since inception, set on 2 July 2026 when a single position repriced −55.7% while held; intraday and notional-equity excursions may exceed this figure. Final terms confirmed in the SMA agreement. This document is confidential and intended solely for the recipient.