verifiable track recordpaper + live-testnet

Performance

Cumulative return of Sonar's rebalanced book versus a buy-and-hold baseline of the same index universe, both indexed to 100 at inception. Computed from the dated theses, their target weights, and the on-chain NAV snapshots Sonar persists each cycle. This is paper plus testnet performance during the buildathon, not a live-money track record. The credibility is the verifiability: every number traces to a cited thesis.

Sonar book

-8.79%

Buy and hold

-8.03%

Excess return

-0.76%

Win rate

50%

66 trade / 23 no-trade

Cumulative return vs buy-and-hold

Gold is Sonar's rebalanced book; the dashed line is a static hold of the same indices from inception. Both start at 100.

Per-thesis attribution

Each thesis links to the run that produced it. Cycle return is the book move over the cycle the thesis governed; notional is the USD the cycle executed, summed from one ledger (paper_trades) so a live fill is counted once. It is dominated by the simulated SSI legs, which are sized against the book, not by the venue-capped perp hedges.

Thesis	Mode	Notional	Cycle return	Result
2026-07-18 11:52Z	trade	$35,213	-	-
2026-07-18 04:00Z	trade	$15,053	-0.53%	loss
2026-07-17 19:46Z	trade	$29,960	-0.22%	loss
2026-07-17 19:29Z	trade	$10,974	+0.16%	win
2026-07-17 19:09Z	trade	$37,885	-0.03%	loss
2026-07-17 08:55Z	trade	$55,115	+0.92%	win
2026-07-16 04:00Z	trade	$25,593	-3.47%	loss
2026-07-15 04:00Z	trade	$20,264	+0.03%	win
2026-07-14 04:00Z	trade	$5,107	+3.29%	win
2026-07-12 20:27Z	no-trade	-	-2.31%	-
2026-07-12 20:03Z	no-trade	-	+0.00%	-
2026-07-12 19:58Z	no-trade	-	+0.00%	-
2026-07-12 19:53Z	no-trade	-	+0.00%	-
2026-07-12 19:04Z	no-trade	-	+0.12%	-
2026-07-11 04:00Z	trade	$48,107	+0.24%	win
2026-07-10 04:00Z	trade	$25,259	+0.14%	win
2026-07-09 04:00Z	trade	$56,956	+5.30%	win
2026-07-08 04:00Z	no-trade	-	-5.14%	-
2026-07-07 09:39Z	no-trade	-	+0.00%	-
2026-07-07 04:00Z	no-trade	-	+0.00%	-

Delta-neutral book

rules-based carry

The second strategy's mark-to-market track: long the MAG7 basket, short a BTC perp sized to the basket's BTC weight. The short offsets the dominant BTC beta, so net exposure falls toward the smaller non-BTC residual while the book harvests the index-versus-perp basis.

Long$507.04Short$751.72Net$-244.68Unrealized$-11.18Rebalances14

Net exposure over time (long minus the BTC short, USD)