{
  "study": "volatility_second_price_source",
  "report_sha256": "33eaa57b1e9d5cc0d5404b55def69df9da9127c8ce09fd2e95dd3c80771b2c02",
  "protocol_sha256": "97a59ebd0094dd57528eb0c52eb1793bc1a88a03694d30e30c8790f890ebdb23",
  "evidence_generated_utc": "2026-09-08T17:23:38.427528+00:00",
  "status": "explored_historical_source_check",
  "promotion": false,
  "quote_units": "USD reference / USDT Binance. No FX conversion; changes venue and quote instrument together.",
  "windows": [
    {
      "source": "reference",
      "name": "2018_frozen_end",
      "requested_first_open": 1514764800,
      "requested_last_open": 1777320000,
      "actual_first_open": 1514764800,
      "actual_last_open": 1777320000,
      "rows": 18230,
      "missing_slots": 4,
      "internal_missing_slots": 4,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2018_frozen_end",
      "requested_first_open": 1514764800,
      "requested_last_open": 1777320000,
      "actual_first_open": 1514764800,
      "actual_last_open": 1777320000,
      "rows": 18200,
      "missing_slots": 34,
      "internal_missing_slots": 34,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "2019_2022",
      "requested_first_open": 1546300800,
      "requested_last_open": 1672516800,
      "actual_first_open": 1546300800,
      "actual_last_open": 1672516800,
      "rows": 8766,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2019_2022",
      "requested_first_open": 1546300800,
      "requested_last_open": 1672516800,
      "actual_first_open": 1546300800,
      "actual_last_open": 1672516800,
      "rows": 8748,
      "missing_slots": 18,
      "internal_missing_slots": 18,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "2023_frozen_end",
      "requested_first_open": 1672531200,
      "requested_last_open": 1777320000,
      "actual_first_open": 1672531200,
      "actual_last_open": 1777320000,
      "rows": 7277,
      "missing_slots": 1,
      "internal_missing_slots": 1,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2023_frozen_end",
      "requested_first_open": 1672531200,
      "requested_last_open": 1777320000,
      "actual_first_open": 1672531200,
      "actual_last_open": 1777320000,
      "rows": 7278,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "2018",
      "requested_first_open": 1514764800,
      "requested_last_open": 1546286400,
      "actual_first_open": 1514764800,
      "actual_last_open": 1546286400,
      "rows": 2187,
      "missing_slots": 3,
      "internal_missing_slots": 3,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2018",
      "requested_first_open": 1514764800,
      "requested_last_open": 1546286400,
      "actual_first_open": 1514764800,
      "actual_last_open": 1546286400,
      "rows": 2174,
      "missing_slots": 16,
      "internal_missing_slots": 16,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "2019",
      "requested_first_open": 1546300800,
      "requested_last_open": 1577822400,
      "actual_first_open": 1546300800,
      "actual_last_open": 1577822400,
      "rows": 2190,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2019",
      "requested_first_open": 1546300800,
      "requested_last_open": 1577822400,
      "actual_first_open": 1546300800,
      "actual_last_open": 1577822400,
      "rows": 2182,
      "missing_slots": 8,
      "internal_missing_slots": 8,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "2020",
      "requested_first_open": 1577836800,
      "requested_last_open": 1609444800,
      "actual_first_open": 1577836800,
      "actual_last_open": 1609444800,
      "rows": 2196,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2020",
      "requested_first_open": 1577836800,
      "requested_last_open": 1609444800,
      "actual_first_open": 1577836800,
      "actual_last_open": 1609444800,
      "rows": 2191,
      "missing_slots": 5,
      "internal_missing_slots": 5,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "2021",
      "requested_first_open": 1609459200,
      "requested_last_open": 1640980800,
      "actual_first_open": 1609459200,
      "actual_last_open": 1640980800,
      "rows": 2190,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2021",
      "requested_first_open": 1609459200,
      "requested_last_open": 1640980800,
      "actual_first_open": 1609459200,
      "actual_last_open": 1640980800,
      "rows": 2185,
      "missing_slots": 5,
      "internal_missing_slots": 5,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "2022",
      "requested_first_open": 1640995200,
      "requested_last_open": 1672516800,
      "actual_first_open": 1640995200,
      "actual_last_open": 1672516800,
      "rows": 2190,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2022",
      "requested_first_open": 1640995200,
      "requested_last_open": 1672516800,
      "actual_first_open": 1640995200,
      "actual_last_open": 1672516800,
      "rows": 2190,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "2023",
      "requested_first_open": 1672531200,
      "requested_last_open": 1704052800,
      "actual_first_open": 1672531200,
      "actual_last_open": 1704052800,
      "rows": 2190,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2023",
      "requested_first_open": 1672531200,
      "requested_last_open": 1704052800,
      "actual_first_open": 1672531200,
      "actual_last_open": 1704052800,
      "rows": 2190,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "2024",
      "requested_first_open": 1704067200,
      "requested_last_open": 1735675200,
      "actual_first_open": 1704067200,
      "actual_last_open": 1735675200,
      "rows": 2196,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2024",
      "requested_first_open": 1704067200,
      "requested_last_open": 1735675200,
      "actual_first_open": 1704067200,
      "actual_last_open": 1735675200,
      "rows": 2196,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "2025",
      "requested_first_open": 1735689600,
      "requested_last_open": 1767211200,
      "actual_first_open": 1735689600,
      "actual_last_open": 1767211200,
      "rows": 2189,
      "missing_slots": 1,
      "internal_missing_slots": 1,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2025",
      "requested_first_open": 1735689600,
      "requested_last_open": 1767211200,
      "actual_first_open": 1735689600,
      "actual_last_open": 1767211200,
      "rows": 2190,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "2026_partial",
      "requested_first_open": 1767225600,
      "requested_last_open": 1777320000,
      "actual_first_open": 1767225600,
      "actual_last_open": 1777320000,
      "rows": 702,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2026_partial",
      "requested_first_open": 1767225600,
      "requested_last_open": 1777320000,
      "actual_first_open": 1767225600,
      "actual_last_open": 1777320000,
      "rows": 702,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "recent_June_September",
      "requested_first_open": 1781136000,
      "requested_last_open": 1788811200,
      "actual_first_open": 1781136000,
      "actual_last_open": 1788811200,
      "rows": 534,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "recent_June_September",
      "requested_first_open": 1781136000,
      "requested_last_open": 1788811200,
      "actual_first_open": 1781136000,
      "actual_last_open": 1788811200,
      "rows": 534,
      "missing_slots": 0,
      "internal_missing_slots": 0,
      "covers_both_endpoints": true
    },
    {
      "source": "reference",
      "name": "2019_frozen_end",
      "requested_first_open": 1546300800,
      "requested_last_open": 1777320000,
      "actual_first_open": 1546300800,
      "actual_last_open": 1777320000,
      "rows": 16043,
      "missing_slots": 1,
      "internal_missing_slots": 1,
      "covers_both_endpoints": true
    },
    {
      "source": "binance",
      "name": "2019_frozen_end",
      "requested_first_open": 1546300800,
      "requested_last_open": 1777320000,
      "actual_first_open": 1546300800,
      "actual_last_open": 1777320000,
      "rows": 16026,
      "missing_slots": 18,
      "internal_missing_slots": 18,
      "covers_both_endpoints": true
    }
  ],
  "comparisons": [
    {
      "source": "reference",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "wins_btc": 11,
      "wins_all_three": 11,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "wins_btc": 10,
      "wins_all_three": 10,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "wins_btc": 12,
      "wins_all_three": 12,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "wins_btc": 10,
      "wins_all_three": 8,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "wins_btc": 6,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "wins_btc": 12,
      "wins_all_three": 12,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "wins_btc": 12,
      "wins_all_three": 11,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "wins_btc": 12,
      "wins_all_three": 12,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "wins_btc": 10,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "wins_btc": 12,
      "wins_all_three": 10,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "wins_btc": 12,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "wins_btc": 12,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "wins_btc": 12,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "wins_btc": 12,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "wins_btc": 12,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "reference",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "wins_btc": 5,
      "wins_all_three": 5,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "wins_btc": 4,
      "wins_all_three": 4,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "wins_btc": 10,
      "wins_all_three": 10,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "wins_btc": 10,
      "wins_all_three": 5,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "wins_btc": 6,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "wins_btc": 2,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "wins_btc": 12,
      "wins_all_three": 12,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "wins_btc": 2,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "wins_btc": 12,
      "wins_all_three": 3,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "wins_btc": 12,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "wins_btc": 10,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "wins_btc": 12,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "wins_btc": 12,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "wins_btc": 12,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "wins_btc": 12,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "wins_btc": 12,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "wins_btc": 12,
      "wins_all_three": 0,
      "cases": 12
    },
    {
      "source": "binance",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "wins_btc": 0,
      "wins_all_three": 0,
      "cases": 12
    }
  ],
  "availability_diagnostic": {
    "status": "post_run_descriptive_availability_check",
    "description": "Counts missing realized-volatility inputs on observed midnight decisions; excludes the extra initial allocation when not at midnight. No model or outcome changes.",
    "windows": [
      {
        "source": "reference",
        "window": "2018_frozen_end",
        "daily_decisions": 3039,
        "missing_feature_daily_decisions": {
          "14": 28,
          "30": 60,
          "60": 120
        }
      },
      {
        "source": "binance",
        "window": "2018_frozen_end",
        "daily_decisions": 3038,
        "missing_feature_daily_decisions": {
          "14": 251,
          "30": 519,
          "60": 953
        }
      },
      {
        "source": "reference",
        "window": "2019_2022",
        "daily_decisions": 1461,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "binance",
        "window": "2019_2022",
        "daily_decisions": 1461,
        "missing_feature_daily_decisions": {
          "14": 173,
          "30": 365,
          "60": 716
        }
      },
      {
        "source": "reference",
        "window": "2023_frozen_end",
        "daily_decisions": 1213,
        "missing_feature_daily_decisions": {
          "14": 14,
          "30": 30,
          "60": 60
        }
      },
      {
        "source": "binance",
        "window": "2023_frozen_end",
        "daily_decisions": 1213,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "reference",
        "window": "2018",
        "daily_decisions": 365,
        "missing_feature_daily_decisions": {
          "14": 14,
          "30": 30,
          "60": 60
        }
      },
      {
        "source": "binance",
        "window": "2018",
        "daily_decisions": 364,
        "missing_feature_daily_decisions": {
          "14": 78,
          "30": 154,
          "60": 237
        }
      },
      {
        "source": "reference",
        "window": "2019",
        "daily_decisions": 365,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "binance",
        "window": "2019",
        "daily_decisions": 365,
        "missing_feature_daily_decisions": {
          "14": 56,
          "30": 120,
          "60": 241
        }
      },
      {
        "source": "reference",
        "window": "2020",
        "daily_decisions": 366,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "binance",
        "window": "2020",
        "daily_decisions": 366,
        "missing_feature_daily_decisions": {
          "14": 53,
          "30": 101,
          "60": 202
        }
      },
      {
        "source": "reference",
        "window": "2021",
        "daily_decisions": 365,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "binance",
        "window": "2021",
        "daily_decisions": 365,
        "missing_feature_daily_decisions": {
          "14": 64,
          "30": 144,
          "60": 273
        }
      },
      {
        "source": "reference",
        "window": "2022",
        "daily_decisions": 365,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "binance",
        "window": "2022",
        "daily_decisions": 365,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "reference",
        "window": "2023",
        "daily_decisions": 365,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "binance",
        "window": "2023",
        "daily_decisions": 365,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "reference",
        "window": "2024",
        "daily_decisions": 366,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "binance",
        "window": "2024",
        "daily_decisions": 366,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "reference",
        "window": "2025",
        "daily_decisions": 365,
        "missing_feature_daily_decisions": {
          "14": 14,
          "30": 30,
          "60": 60
        }
      },
      {
        "source": "binance",
        "window": "2025",
        "daily_decisions": 365,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "reference",
        "window": "2026_partial",
        "daily_decisions": 117,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "binance",
        "window": "2026_partial",
        "daily_decisions": 117,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "reference",
        "window": "recent_June_September",
        "daily_decisions": 89,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "binance",
        "window": "recent_June_September",
        "daily_decisions": 89,
        "missing_feature_daily_decisions": {
          "14": 0,
          "30": 0,
          "60": 0
        }
      },
      {
        "source": "reference",
        "window": "2019_frozen_end",
        "daily_decisions": 2674,
        "missing_feature_daily_decisions": {
          "14": 14,
          "30": 30,
          "60": 60
        }
      },
      {
        "source": "binance",
        "window": "2019_frozen_end",
        "daily_decisions": 2674,
        "missing_feature_daily_decisions": {
          "14": 173,
          "30": 365,
          "60": 716
        }
      }
    ]
  },
  "results": [
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 69557.72695464175,
      "return_pct": 595.5772695464175,
      "cagr_pct": 26.25395454590208,
      "max_drawdown_pct": 66.74064762109253,
      "mean_exposure_while_solvent": 0.7731621343430062,
      "realized_annual_volatility_pct": 43.344284594857825,
      "trading_costs_quote_units": 1209.61481283572,
      "borrowing_costs_quote_units": 920.563094948795,
      "price_pnl_quote_units": 61687.904862426585,
      "turnover_quote_units": 2016024.688059534,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 76009.66774965757,
      "return_pct": 660.0966774965757,
      "cagr_pct": 27.60723070240943,
      "max_drawdown_pct": 81.52124381467671,
      "mean_exposure_while_solvent": 1.0831321690939433,
      "realized_annual_volatility_pct": 61.68734225645879,
      "trading_costs_quote_units": 1253.8976112291168,
      "borrowing_costs_quote_units": 3490.725483300555,
      "price_pnl_quote_units": 70754.29084418726,
      "turnover_quote_units": 2089829.3520485326,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 50327.55406706129,
      "return_pct": 403.2755406706129,
      "cagr_pct": 21.437538859724093,
      "max_drawdown_pct": 89.1736526331106,
      "mean_exposure_while_solvent": 1.2835371777396243,
      "realized_annual_volatility_pct": 76.09448728058692,
      "trading_costs_quote_units": 860.1597823548507,
      "borrowing_costs_quote_units": 3915.885507977028,
      "price_pnl_quote_units": 45103.599357393025,
      "turnover_quote_units": 1433599.6372580805,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 52158.77672916686,
      "return_pct": 421.58776729166857,
      "cagr_pct": 21.96032114726166,
      "max_drawdown_pct": 81.63111961724603,
      "mean_exposure_while_solvent": 1.1109734978851584,
      "realized_annual_volatility_pct": 62.28491354725081,
      "trading_costs_quote_units": 1607.4139090507751,
      "borrowing_costs_quote_units": 2933.3629304244746,
      "price_pnl_quote_units": 46699.55356864241,
      "turnover_quote_units": 2679023.1817512913,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3013,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 91981.15252333008,
      "return_pct": 819.8115252333007,
      "cagr_pct": 30.566260884201803,
      "max_drawdown_pct": 78.10924023781516,
      "mean_exposure_while_solvent": 1.0573736986676632,
      "realized_annual_volatility_pct": 61.46145577332284,
      "trading_costs_quote_units": 972.471298831736,
      "borrowing_costs_quote_units": 3886.9708598852517,
      "price_pnl_quote_units": 86840.59468204583,
      "turnover_quote_units": 1620785.4980528934,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2921,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 54836.92234678091,
      "return_pct": 448.36922346780915,
      "cagr_pct": 22.696524844470368,
      "max_drawdown_pct": 77.23462005993007,
      "mean_exposure_while_solvent": 0.904523666013071,
      "realized_annual_volatility_pct": 53.81451349757672,
      "trading_costs_quote_units": 251.39584818301748,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 45088.31819496389,
      "turnover_quote_units": 418993.08030502935,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1261,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 51458.78172600418,
      "return_pct": 414.5878172600418,
      "cagr_pct": 21.762420372620113,
      "max_drawdown_pct": 69.8887657745692,
      "mean_exposure_while_solvent": 0.7500069274772029,
      "realized_annual_volatility_pct": 48.8927018347182,
      "trading_costs_quote_units": 194.36823729854157,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41653.14996330291,
      "turnover_quote_units": 323947.06216423656,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 56487.72630127437,
      "return_pct": 464.87726301274375,
      "cagr_pct": 23.134708269540575,
      "max_drawdown_pct": 81.6373364742596,
      "mean_exposure_while_solvent": 0.9999451453647833,
      "realized_annual_volatility_pct": 65.38621440451088,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 46493.72270343314,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 43171.80883975598,
      "return_pct": 331.7180883975598,
      "cagr_pct": 19.21951638290116,
      "max_drawdown_pct": 89.51719576390053,
      "mean_exposure_while_solvent": 1.2499449690285087,
      "realized_annual_volatility_pct": 82.06623548629844,
      "trading_costs_quote_units": 277.32889076579266,
      "borrowing_costs_quote_units": 2398.0529373396857,
      "price_pnl_quote_units": 35847.19066786149,
      "turnover_quote_units": 462214.8179429869,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3039,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25761.705352552934,
      "return_pct": 157.61705352552931,
      "cagr_pct": 12.046100150988085,
      "max_drawdown_pct": 94.32929124664147,
      "mean_exposure_while_solvent": 1.5000444928219363,
      "realized_annual_volatility_pct": 99.02206853215209,
      "trading_costs_quote_units": 449.9594796258348,
      "borrowing_costs_quote_units": 3205.406798488378,
      "price_pnl_quote_units": 19417.071630667087,
      "turnover_quote_units": 749932.4660430582,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3039,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 68287.4373009831,
      "return_pct": 582.8743730098311,
      "cagr_pct": 25.974570960598736,
      "max_drawdown_pct": 66.75542076800838,
      "mean_exposure_while_solvent": 0.7731654993365393,
      "realized_annual_volatility_pct": 43.344357198558264,
      "trading_costs_quote_units": 1196.598886600733,
      "borrowing_costs_quote_units": 1816.945205706132,
      "price_pnl_quote_units": 61300.98139328966,
      "turnover_quote_units": 1994331.477667886,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 70572.1998065043,
      "return_pct": 605.721998065043,
      "cagr_pct": 26.473868816418044,
      "max_drawdown_pct": 81.58572462814419,
      "mean_exposure_while_solvent": 1.0831465680104477,
      "realized_annual_volatility_pct": 61.688130409722866,
      "trading_costs_quote_units": 1199.1573621820255,
      "borrowing_costs_quote_units": 6613.867872080443,
      "price_pnl_quote_units": 68385.22504076715,
      "turnover_quote_units": 1998595.6036367079,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 44028.9437626951,
      "return_pct": 340.289437626951,
      "cagr_pct": 19.50156037307778,
      "max_drawdown_pct": 89.3227607421785,
      "mean_exposure_while_solvent": 1.2835637006863443,
      "realized_annual_volatility_pct": 76.09674184042626,
      "trading_costs_quote_units": 795.6587462574693,
      "borrowing_costs_quote_units": 7123.641938059299,
      "price_pnl_quote_units": 41948.24444701225,
      "turnover_quote_units": 1326097.9104291126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 47875.07070527862,
      "return_pct": 378.75070705278614,
      "cagr_pct": 20.710535623386683,
      "max_drawdown_pct": 81.72701565399245,
      "mean_exposure_while_solvent": 1.110990301173847,
      "realized_annual_volatility_pct": 62.28602614644011,
      "trading_costs_quote_units": 1530.8909955344448,
      "borrowing_costs_quote_units": 5519.301385152371,
      "price_pnl_quote_units": 44925.26308596532,
      "turnover_quote_units": 2551484.992557405,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3013,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 86209.90113856652,
      "return_pct": 762.0990113856653,
      "cagr_pct": 29.55330579605475,
      "max_drawdown_pct": 78.13989897168476,
      "mean_exposure_while_solvent": 1.057386136850555,
      "realized_annual_volatility_pct": 61.462164477219126,
      "trading_costs_quote_units": 933.4133031628845,
      "borrowing_costs_quote_units": 7414.545921982052,
      "price_pnl_quote_units": 84557.86036371106,
      "turnover_quote_units": 1555688.8386048086,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2921,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 54836.92234678091,
      "return_pct": 448.36922346780915,
      "cagr_pct": 22.696524844470368,
      "max_drawdown_pct": 77.23462005993007,
      "mean_exposure_while_solvent": 0.904523666013071,
      "realized_annual_volatility_pct": 53.81451349757672,
      "trading_costs_quote_units": 251.39584818301748,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 45088.31819496389,
      "turnover_quote_units": 418993.08030502935,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1261,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 51458.78172600418,
      "return_pct": 414.5878172600418,
      "cagr_pct": 21.762420372620113,
      "max_drawdown_pct": 69.8887657745692,
      "mean_exposure_while_solvent": 0.7500069274772029,
      "realized_annual_volatility_pct": 48.8927018347182,
      "trading_costs_quote_units": 194.36823729854157,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41653.14996330291,
      "turnover_quote_units": 323947.06216423656,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 56487.72630127437,
      "return_pct": 464.87726301274375,
      "cagr_pct": 23.134708269540575,
      "max_drawdown_pct": 81.6373364742596,
      "mean_exposure_while_solvent": 0.9999451453647833,
      "realized_annual_volatility_pct": 65.38621440451088,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 46493.72270343314,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 38905.108685785235,
      "return_pct": 289.0510868578524,
      "cagr_pct": 17.73764581723814,
      "max_drawdown_pct": 89.64044983807263,
      "mean_exposure_while_solvent": 1.2499627971670815,
      "realized_annual_volatility_pct": 82.06799310776955,
      "trading_costs_quote_units": 259.9715102273822,
      "borrowing_costs_quote_units": 4458.142993047513,
      "price_pnl_quote_units": 33623.22318906027,
      "turnover_quote_units": 433285.8503789709,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3039,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20918.471432450377,
      "return_pct": 109.18471432450376,
      "cagr_pct": 9.276260697483119,
      "max_drawdown_pct": 94.46220503959763,
      "mean_exposure_while_solvent": 1.5000873135817285,
      "realized_annual_volatility_pct": 99.02639884972969,
      "trading_costs_quote_units": 396.6757635463221,
      "borrowing_costs_quote_units": 5554.750517859901,
      "price_pnl_quote_units": 16869.897713856764,
      "turnover_quote_units": 661126.2725772054,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3039,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 65815.42764176172,
      "return_pct": 558.1542764176172,
      "cagr_pct": 25.417519205641398,
      "max_drawdown_pct": 66.78495399663764,
      "mean_exposure_while_solvent": 0.7731722305205646,
      "realized_annual_volatility_pct": 43.34451239202041,
      "trading_costs_quote_units": 1171.0710329495314,
      "borrowing_costs_quote_units": 3539.2046757445764,
      "price_pnl_quote_units": 60525.70335045563,
      "turnover_quote_units": 1951785.0549158903,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 60833.967659423266,
      "return_pct": 508.3396765942327,
      "cagr_pct": 24.23666416603679,
      "max_drawdown_pct": 81.7140419753949,
      "mean_exposure_while_solvent": 1.083175371543314,
      "realized_annual_volatility_pct": 61.6897302959419,
      "trading_costs_quote_units": 1098.1482979445602,
      "borrowing_costs_quote_units": 11879.855791973503,
      "price_pnl_quote_units": 63811.97174934137,
      "turnover_quote_units": 1830247.1632409296,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 33695.46969891482,
      "return_pct": 236.9546969891482,
      "cagr_pct": 15.720689217899464,
      "max_drawdown_pct": 89.61491629188332,
      "mean_exposure_while_solvent": 1.2836167574753445,
      "realized_annual_volatility_pct": 76.10127040470053,
      "trading_costs_quote_units": 683.7146250897388,
      "borrowing_costs_quote_units": 11822.311820488945,
      "price_pnl_quote_units": 36201.49614449355,
      "turnover_quote_units": 1139524.375149566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 40332.32363686493,
      "return_pct": 303.3232363686493,
      "cagr_pct": 18.248592173525726,
      "max_drawdown_pct": 81.91735332374088,
      "mean_exposure_while_solvent": 1.1110239145266794,
      "realized_annual_volatility_pct": 62.28827711120146,
      "trading_costs_quote_units": 1390.9763291206668,
      "borrowing_costs_quote_units": 9780.228587184663,
      "price_pnl_quote_units": 41503.52855317031,
      "turnover_quote_units": 2318293.8818677766,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3013,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 75728.42594165723,
      "return_pct": 657.2842594165724,
      "cagr_pct": 27.550387618665884,
      "max_drawdown_pct": 78.20110014162202,
      "mean_exposure_while_solvent": 1.0574110180525709,
      "realized_annual_volatility_pct": 61.463603342922745,
      "trading_costs_quote_units": 860.8039127999167,
      "borrowing_costs_quote_units": 13496.49570115698,
      "price_pnl_quote_units": 80085.7255556143,
      "turnover_quote_units": 1434673.1879998622,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2921,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 54836.92234678091,
      "return_pct": 448.36922346780915,
      "cagr_pct": 22.696524844470368,
      "max_drawdown_pct": 77.23462005993007,
      "mean_exposure_while_solvent": 0.904523666013071,
      "realized_annual_volatility_pct": 53.81451349757672,
      "trading_costs_quote_units": 251.39584818301748,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 45088.31819496389,
      "turnover_quote_units": 418993.08030502935,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1261,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 51458.78172600418,
      "return_pct": 414.5878172600418,
      "cagr_pct": 21.762420372620113,
      "max_drawdown_pct": 69.8887657745692,
      "mean_exposure_while_solvent": 0.7500069274772029,
      "realized_annual_volatility_pct": 48.8927018347182,
      "trading_costs_quote_units": 194.36823729854157,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41653.14996330291,
      "turnover_quote_units": 323947.06216423656,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 56487.72630127437,
      "return_pct": 464.87726301274375,
      "cagr_pct": 23.134708269540575,
      "max_drawdown_pct": 81.6373364742596,
      "mean_exposure_while_solvent": 0.9999451453647833,
      "realized_annual_volatility_pct": 65.38621440451088,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 46493.72270343314,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 31593.55769788117,
      "return_pct": 215.9355769788117,
      "cagr_pct": 14.828270274881671,
      "max_drawdown_pct": 89.88268188259606,
      "mean_exposure_while_solvent": 1.2499984589390531,
      "realized_annual_volatility_pct": 82.07150913093022,
      "trading_costs_quote_units": 229.03970531643253,
      "borrowing_costs_quote_units": 7718.29085884611,
      "price_pnl_quote_units": 29540.888262043765,
      "turnover_quote_units": 381732.8421940549,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3039,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13790.791750490129,
      "return_pct": 37.90791750490128,
      "cagr_pct": 3.9388256797301855,
      "max_drawdown_pct": 94.7188300164184,
      "mean_exposure_while_solvent": 1.5001729737019303,
      "realized_annual_volatility_pct": 99.03506226607234,
      "trading_costs_quote_units": 311.4606357835257,
      "borrowing_costs_quote_units": 8408.66580991464,
      "price_pnl_quote_units": 12510.918196188315,
      "turnover_quote_units": 519101.0596392095,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3039,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 69577.86994884795,
      "return_pct": 595.7786994884794,
      "cagr_pct": 26.25834846100203,
      "max_drawdown_pct": 66.7176107574629,
      "mean_exposure_while_solvent": 0.7730087511702469,
      "realized_annual_volatility_pct": 43.5163354161553,
      "trading_costs_quote_units": 1197.2167665775894,
      "borrowing_costs_quote_units": 915.7551897970937,
      "price_pnl_quote_units": 61690.84190522243,
      "turnover_quote_units": 1995361.2776293135,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 80470.4753421861,
      "return_pct": 704.704753421861,
      "cagr_pct": 28.48493835255981,
      "max_drawdown_pct": 81.40734506194914,
      "mean_exposure_while_solvent": 1.0828369726043088,
      "realized_annual_volatility_pct": 61.79953133754085,
      "trading_costs_quote_units": 1293.3176919842936,
      "borrowing_costs_quote_units": 3630.3279285431227,
      "price_pnl_quote_units": 75394.12096271302,
      "turnover_quote_units": 2155529.486640491,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 55702.22032212325,
      "return_pct": 457.0222032212325,
      "cagr_pct": 22.927631662374125,
      "max_drawdown_pct": 89.21001624995579,
      "mean_exposure_while_solvent": 1.2832497413030848,
      "realized_annual_volatility_pct": 75.84144827829992,
      "trading_costs_quote_units": 917.1213170469642,
      "borrowing_costs_quote_units": 4251.7224735889795,
      "price_pnl_quote_units": 50871.06411275872,
      "turnover_quote_units": 1528535.5284116038,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 55004.26978621023,
      "return_pct": 450.0426978621023,
      "cagr_pct": 22.741469628888954,
      "max_drawdown_pct": 82.03472179538632,
      "mean_exposure_while_solvent": 1.1106755426289172,
      "realized_annual_volatility_pct": 62.48221258024653,
      "trading_costs_quote_units": 1662.5775911178255,
      "borrowing_costs_quote_units": 3061.7367329178005,
      "price_pnl_quote_units": 49728.58411024568,
      "turnover_quote_units": 2770962.6518630483,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3012,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 99858.58994836101,
      "return_pct": 898.5858994836102,
      "cagr_pct": 31.862190399714812,
      "max_drawdown_pct": 77.96388300449169,
      "mean_exposure_while_solvent": 1.0571162591110423,
      "realized_annual_volatility_pct": 61.43160303716566,
      "trading_costs_quote_units": 1014.4050994967598,
      "borrowing_costs_quote_units": 4126.96399916857,
      "price_pnl_quote_units": 94999.95904702568,
      "turnover_quote_units": 1690675.165827933,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2920,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 56746.12481392025,
      "return_pct": 467.46124813920244,
      "cagr_pct": 23.202274149077176,
      "max_drawdown_pct": 77.15760716028328,
      "mean_exposure_while_solvent": 0.9043786950181217,
      "realized_annual_volatility_pct": 53.87307185566191,
      "trading_costs_quote_units": 260.37394474253665,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 47006.498758662776,
      "turnover_quote_units": 433956.5745708945,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1260,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 51959.40834925463,
      "return_pct": 419.59408349254625,
      "cagr_pct": 21.904195395677316,
      "max_drawdown_pct": 70.01783714728853,
      "mean_exposure_while_solvent": 0.7499201773877829,
      "realized_annual_volatility_pct": 48.94699102898192,
      "trading_costs_quote_units": 193.68188838396162,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 42153.09023763851,
      "turnover_quote_units": 322803.14730660233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 57962.128109587495,
      "return_pct": 479.62128109587496,
      "cagr_pct": 23.516644744163496,
      "max_drawdown_pct": 81.63733647425958,
      "mean_exposure_while_solvent": 0.9998354360943499,
      "realized_annual_volatility_pct": 65.38088224334234,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 47968.12451174634,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 45421.1797993165,
      "return_pct": 354.21179799316496,
      "cagr_pct": 19.94954869000897,
      "max_drawdown_pct": 89.425441351889,
      "mean_exposure_while_solvent": 1.249824452854843,
      "realized_annual_volatility_pct": 81.921882324859,
      "trading_costs_quote_units": 290.32533504255554,
      "borrowing_costs_quote_units": 2525.5938263857306,
      "price_pnl_quote_units": 38237.0989607447,
      "turnover_quote_units": 483875.55840425944,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 28071.99937138555,
      "return_pct": 180.7199937138555,
      "cagr_pct": 13.208708329070049,
      "max_drawdown_pct": 94.20004875573156,
      "mean_exposure_while_solvent": 1.499928731967777,
      "realized_annual_volatility_pct": 98.60070028586762,
      "trading_costs_quote_units": 491.05168358271237,
      "borrowing_costs_quote_units": 3502.4328106954304,
      "price_pnl_quote_units": 22065.48386566389,
      "turnover_quote_units": 818419.4726378535,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 68307.18675168439,
      "return_pct": 583.0718675168439,
      "cagr_pct": 25.97894945895167,
      "max_drawdown_pct": 66.73244057089236,
      "mean_exposure_while_solvent": 0.773012115224555,
      "realized_annual_volatility_pct": 43.51639051403479,
      "trading_costs_quote_units": 1184.3293024527036,
      "borrowing_costs_quote_units": 1807.40337774107,
      "price_pnl_quote_units": 61298.9194318782,
      "turnover_quote_units": 1973882.1707545044,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 74715.80422888267,
      "return_pct": 647.1580422888267,
      "cagr_pct": 27.344171754890333,
      "max_drawdown_pct": 81.47179469716187,
      "mean_exposure_while_solvent": 1.0828513534271473,
      "realized_annual_volatility_pct": 61.80013634768837,
      "trading_costs_quote_units": 1236.598540247708,
      "borrowing_costs_quote_units": 6877.365264605342,
      "price_pnl_quote_units": 72829.76803373564,
      "turnover_quote_units": 2060997.567079513,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 48732.72271448419,
      "return_pct": 387.3272271448419,
      "cagr_pct": 20.968424362025427,
      "max_drawdown_pct": 89.3586939637238,
      "mean_exposure_while_solvent": 1.283276257300179,
      "realized_annual_volatility_pct": 75.8432503453126,
      "trading_costs_quote_units": 847.9002901620598,
      "borrowing_costs_quote_units": 7731.651416758429,
      "price_pnl_quote_units": 47312.274421404785,
      "turnover_quote_units": 1413167.1502700993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 50487.96028411848,
      "return_pct": 404.8796028411848,
      "cagr_pct": 21.48399504504893,
      "max_drawdown_pct": 82.1284313778874,
      "mean_exposure_while_solvent": 1.1106923284665273,
      "realized_annual_volatility_pct": 62.48314042934043,
      "trading_costs_quote_units": 1583.0526296788805,
      "borrowing_costs_quote_units": 5759.108309139026,
      "price_pnl_quote_units": 47830.12122293694,
      "turnover_quote_units": 2638421.049464802,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3012,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 93595.64358071084,
      "return_pct": 835.9564358071083,
      "cagr_pct": 30.839612379729193,
      "max_drawdown_pct": 77.99461074922948,
      "mean_exposure_while_solvent": 1.057128684325471,
      "realized_annual_volatility_pct": 61.43212383904421,
      "trading_costs_quote_units": 973.5765736965305,
      "borrowing_costs_quote_units": 7871.405661168908,
      "price_pnl_quote_units": 92440.62581557638,
      "turnover_quote_units": 1622627.6228275492,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2920,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 56746.12481392025,
      "return_pct": 467.46124813920244,
      "cagr_pct": 23.202274149077176,
      "max_drawdown_pct": 77.15760716028328,
      "mean_exposure_while_solvent": 0.9043786950181217,
      "realized_annual_volatility_pct": 53.87307185566191,
      "trading_costs_quote_units": 260.37394474253665,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 47006.498758662776,
      "turnover_quote_units": 433956.5745708945,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1260,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 51959.40834925463,
      "return_pct": 419.59408349254625,
      "cagr_pct": 21.904195395677316,
      "max_drawdown_pct": 70.01783714728853,
      "mean_exposure_while_solvent": 0.7499201773877829,
      "realized_annual_volatility_pct": 48.94699102898192,
      "trading_costs_quote_units": 193.68188838396162,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 42153.09023763851,
      "turnover_quote_units": 322803.14730660233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 57962.128109587495,
      "return_pct": 479.62128109587496,
      "cagr_pct": 23.516644744163496,
      "max_drawdown_pct": 81.63733647425958,
      "mean_exposure_while_solvent": 0.9998354360943499,
      "realized_annual_volatility_pct": 65.38088224334234,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 47968.12451174634,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 40932.73661129443,
      "return_pct": 309.3273661129443,
      "cagr_pct": 18.45880013430816,
      "max_drawdown_pct": 89.54977536768607,
      "mean_exposure_while_solvent": 1.2498422925416104,
      "realized_annual_volatility_pct": 81.92342470946905,
      "trading_costs_quote_units": 272.148491521525,
      "borrowing_costs_quote_units": 4695.481169066622,
      "price_pnl_quote_units": 35900.3662718829,
      "turnover_quote_units": 453580.8192025401,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 22795.180878563373,
      "return_pct": 127.95180878563373,
      "cagr_pct": 10.410567363753728,
      "max_drawdown_pct": 94.33598063017182,
      "mean_exposure_while_solvent": 1.4999715844000359,
      "realized_annual_volatility_pct": 98.6044532352771,
      "trading_costs_quote_units": 433.00967660346976,
      "borrowing_costs_quote_units": 6070.709704183605,
      "price_pnl_quote_units": 19298.90025935046,
      "turnover_quote_units": 721682.7943391157,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 65834.41849020484,
      "return_pct": 558.3441849020485,
      "cagr_pct": 25.421868342655213,
      "max_drawdown_pct": 66.76208702858698,
      "mean_exposure_while_solvent": 0.7730188445300668,
      "realized_annual_volatility_pct": 43.51651060839262,
      "trading_costs_quote_units": 1159.0626915976015,
      "borrowing_costs_quote_units": 3520.4137834846483,
      "price_pnl_quote_units": 60513.894965287545,
      "turnover_quote_units": 1931771.1526626702,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 64409.08543192519,
      "return_pct": 544.0908543192519,
      "cagr_pct": 25.092339768183976,
      "max_drawdown_pct": 81.60005560670025,
      "mean_exposure_while_solvent": 1.0828801207632686,
      "realized_annual_volatility_pct": 61.80136991681287,
      "trading_costs_quote_units": 1131.9831793206972,
      "borrowing_costs_quote_units": 12349.38683079234,
      "price_pnl_quote_units": 67890.4554420383,
      "turnover_quote_units": 1886638.6322011647,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 37297.96605419782,
      "return_pct": 272.9796605419782,
      "cagr_pct": 17.142155897751863,
      "max_drawdown_pct": 89.65000353564407,
      "mean_exposure_while_solvent": 1.2833293001927608,
      "realized_annual_volatility_pct": 75.84687382150088,
      "trading_costs_quote_units": 727.8501773697204,
      "borrowing_costs_quote_units": 12820.93364004141,
      "price_pnl_quote_units": 40846.749871609165,
      "turnover_quote_units": 1213083.6289495337,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 42535.406886532786,
      "return_pct": 325.35406886532786,
      "cagr_pct": 19.00690072452599,
      "max_drawdown_pct": 82.31443074780236,
      "mean_exposure_while_solvent": 1.1107259069076014,
      "realized_annual_volatility_pct": 62.48502173614082,
      "trading_costs_quote_units": 1437.706689169816,
      "borrowing_costs_quote_units": 10198.814312909848,
      "price_pnl_quote_units": 44171.9278886125,
      "turnover_quote_units": 2396177.815283029,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3012,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 82220.70888924586,
      "return_pct": 722.2070888924586,
      "cagr_pct": 28.817656128951896,
      "max_drawdown_pct": 78.05595024482479,
      "mean_exposure_while_solvent": 1.0571535395842389,
      "realized_annual_volatility_pct": 61.43318683942566,
      "trading_costs_quote_units": 897.7539305871668,
      "borrowing_costs_quote_units": 14324.586673242773,
      "price_pnl_quote_units": 87443.04949307592,
      "turnover_quote_units": 1496256.5509786103,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2920,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 56746.12481392025,
      "return_pct": 467.46124813920244,
      "cagr_pct": 23.202274149077176,
      "max_drawdown_pct": 77.15760716028328,
      "mean_exposure_while_solvent": 0.9043786950181217,
      "realized_annual_volatility_pct": 53.87307185566191,
      "trading_costs_quote_units": 260.37394474253665,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 47006.498758662776,
      "turnover_quote_units": 433956.5745708945,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1260,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 51959.40834925463,
      "return_pct": 419.59408349254625,
      "cagr_pct": 21.904195395677316,
      "max_drawdown_pct": 70.01783714728853,
      "mean_exposure_while_solvent": 0.7499201773877829,
      "realized_annual_volatility_pct": 48.94699102898192,
      "trading_costs_quote_units": 193.68188838396162,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 42153.09023763851,
      "turnover_quote_units": 322803.14730660233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 57962.128109587495,
      "return_pct": 479.62128109587496,
      "cagr_pct": 23.516644744163496,
      "max_drawdown_pct": 81.63733647425958,
      "mean_exposure_while_solvent": 0.9998354360943499,
      "realized_annual_volatility_pct": 65.38088224334234,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 47968.12451174634,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33241.040672087416,
      "return_pct": 232.41040672087414,
      "cagr_pct": 15.53198583705596,
      "max_drawdown_pct": 89.79412961646625,
      "mean_exposure_while_solvent": 1.2498779774231947,
      "realized_annual_volatility_pct": 81.92651020114158,
      "trading_costs_quote_units": 239.76142305971595,
      "borrowing_costs_quote_units": 8129.9673265265255,
      "price_pnl_quote_units": 31610.7694216735,
      "turnover_quote_units": 399602.3717661931,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 15029.029384195044,
      "return_pct": 50.29029384195045,
      "cagr_pct": 5.018561154620939,
      "max_drawdown_pct": 94.59843335696227,
      "mean_exposure_while_solvent": 1.5000573079114834,
      "realized_annual_volatility_pct": 98.61196159282044,
      "trading_costs_quote_units": 340.079170285593,
      "borrowing_costs_quote_units": 9193.043238820117,
      "price_pnl_quote_units": 14562.151793300707,
      "turnover_quote_units": 566798.6171426544,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 60898.7424024176,
      "return_pct": 508.987424024176,
      "cagr_pct": 24.252556560843928,
      "max_drawdown_pct": 67.18142604094976,
      "mean_exposure_while_solvent": 0.7731621343430062,
      "realized_annual_volatility_pct": 43.34226193912114,
      "trading_costs_quote_units": 5498.839494539604,
      "borrowing_costs_quote_units": 824.4181388787399,
      "price_pnl_quote_units": 57222.000035836274,
      "turnover_quote_units": 1832946.4981798688,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 65843.78360745942,
      "return_pct": 558.4378360745942,
      "cagr_pct": 25.42401266291551,
      "max_drawdown_pct": 81.82221332199103,
      "mean_exposure_while_solvent": 1.0831321690939433,
      "realized_annual_volatility_pct": 61.68283493506323,
      "trading_costs_quote_units": 5648.226373654627,
      "borrowing_costs_quote_units": 3096.928738282951,
      "price_pnl_quote_units": 64588.938719397076,
      "turnover_quote_units": 1882742.1245515423,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 43666.62325510326,
      "return_pct": 336.66623255103264,
      "cagr_pct": 19.382931880587698,
      "max_drawdown_pct": 89.39693064771961,
      "mean_exposure_while_solvent": 1.2835371777396243,
      "realized_annual_volatility_pct": 76.0899399774549,
      "trading_costs_quote_units": 3895.7304736375904,
      "borrowing_costs_quote_units": 3492.9125841067957,
      "price_pnl_quote_units": 41055.26631284754,
      "turnover_quote_units": 1298576.824545864,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 40837.12276145859,
      "return_pct": 308.37122761458585,
      "cagr_pct": 18.42550755948984,
      "max_drawdown_pct": 82.20524463104407,
      "mean_exposure_while_solvent": 1.1109734978851584,
      "realized_annual_volatility_pct": 62.281831382684935,
      "trading_costs_quote_units": 6779.648851873158,
      "borrowing_costs_quote_units": 2400.2947722699364,
      "price_pnl_quote_units": 40017.06638560197,
      "turnover_quote_units": 2259882.9506243826,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3013,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 83866.28956667575,
      "return_pct": 738.6628956667575,
      "cagr_pct": 29.12484381091408,
      "max_drawdown_pct": 78.31191966034076,
      "mean_exposure_while_solvent": 1.0573736986676632,
      "realized_annual_volatility_pct": 61.45752038479825,
      "trading_costs_quote_units": 4536.448280733919,
      "borrowing_costs_quote_units": 3598.904370122449,
      "price_pnl_quote_units": 82001.64221753179,
      "turnover_quote_units": 1512149.426911303,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2921,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 52165.41662581284,
      "return_pct": 421.6541662581283,
      "cagr_pct": 21.962187146683593,
      "max_drawdown_pct": 77.42092712344044,
      "mean_exposure_while_solvent": 0.904523666013071,
      "realized_annual_volatility_pct": 53.81349270538873,
      "trading_costs_quote_units": 1216.370566069636,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 43381.78719188272,
      "turnover_quote_units": 405456.85535654565,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1261,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 49749.4536940986,
      "return_pct": 397.494536940986,
      "cagr_pct": 21.269023861007977,
      "max_drawdown_pct": 70.0411825079089,
      "mean_exposure_while_solvent": 0.7500069274772029,
      "realized_annual_volatility_pct": 48.89357956687257,
      "trading_costs_quote_units": 949.6633030134585,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 40699.116997111996,
      "turnover_quote_units": 316554.4343378188,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 56352.56125329525,
      "return_pct": 463.52561253295255,
      "cagr_pct": 23.099257005464654,
      "max_drawdown_pct": 81.63733647425958,
      "mean_exposure_while_solvent": 0.9999451453647833,
      "realized_annual_volatility_pct": 65.38629783545213,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 46382.47152248738,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 40800.57630743942,
      "return_pct": 308.00576307439417,
      "cagr_pct": 18.412764029538,
      "max_drawdown_pct": 89.60697977488223,
      "mean_exposure_while_solvent": 1.2499449690285087,
      "realized_annual_volatility_pct": 82.06809259700287,
      "trading_costs_quote_units": 1332.8429232591498,
      "borrowing_costs_quote_units": 2295.4882073428194,
      "price_pnl_quote_units": 34428.90743804105,
      "turnover_quote_units": 444280.9744197158,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3039,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 22567.52433801994,
      "return_pct": 125.67524338019939,
      "cagr_pct": 10.277446272740159,
      "max_drawdown_pct": 94.4462701836604,
      "mean_exposure_while_solvent": 1.5000444928219363,
      "realized_annual_volatility_pct": 99.02665227896644,
      "trading_costs_quote_units": 2056.393579182562,
      "borrowing_costs_quote_units": 2900.249061045011,
      "price_pnl_quote_units": 17524.166978247536,
      "turnover_quote_units": 685464.526394189,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3039,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 59786.73706105572,
      "return_pct": 497.8673706105572,
      "cagr_pct": 23.97763935607964,
      "max_drawdown_pct": 67.19599325749977,
      "mean_exposure_while_solvent": 0.7731654993365393,
      "realized_annual_volatility_pct": 43.342339507448926,
      "trading_costs_quote_units": 5440.511701007176,
      "borrowing_costs_quote_units": 1627.3226666481246,
      "price_pnl_quote_units": 56854.571428710726,
      "turnover_quote_units": 1813503.900335726,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 61133.73495795859,
      "return_pct": 511.337349579586,
      "cagr_pct": 24.310087095183334,
      "max_drawdown_pct": 81.88563982801035,
      "mean_exposure_while_solvent": 1.0831465680104477,
      "realized_annual_volatility_pct": 61.68363445481177,
      "trading_costs_quote_units": 5405.319634325573,
      "borrowing_costs_quote_units": 5869.803762309865,
      "price_pnl_quote_units": 62408.85835459458,
      "turnover_quote_units": 1801773.2114418612,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 38201.79011001144,
      "return_pct": 282.0179011001144,
      "cagr_pct": 17.479762335221118,
      "max_drawdown_pct": 89.54299108330126,
      "mean_exposure_while_solvent": 1.2835637006863443,
      "realized_annual_volatility_pct": 76.09221667154459,
      "trading_costs_quote_units": 3608.333272728658,
      "borrowing_costs_quote_units": 6359.589506987935,
      "price_pnl_quote_units": 38169.71288972823,
      "turnover_quote_units": 1202777.757576216,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 37482.88438086251,
      "return_pct": 274.8288438086251,
      "cagr_pct": 17.21180990032548,
      "max_drawdown_pct": 82.29815728551594,
      "mean_exposure_while_solvent": 1.110990301173847,
      "realized_annual_volatility_pct": 62.28295452028292,
      "trading_costs_quote_units": 6465.989144482259,
      "borrowing_costs_quote_units": 4519.956584365412,
      "price_pnl_quote_units": 38468.83010971017,
      "turnover_quote_units": 2155329.714827423,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3013,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 78605.21786477164,
      "return_pct": 686.0521786477163,
      "cagr_pct": 28.123271694773244,
      "max_drawdown_pct": 78.3422743797711,
      "mean_exposure_while_solvent": 1.057386136850555,
      "realized_annual_volatility_pct": 61.45824046933627,
      "trading_costs_quote_units": 4355.889960037472,
      "borrowing_costs_quote_units": 6866.312150862617,
      "price_pnl_quote_units": 79827.41997567168,
      "turnover_quote_units": 1451963.3200124875,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2921,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 52165.41662581284,
      "return_pct": 421.6541662581283,
      "cagr_pct": 21.962187146683593,
      "max_drawdown_pct": 77.42092712344044,
      "mean_exposure_while_solvent": 0.904523666013071,
      "realized_annual_volatility_pct": 53.81349270538873,
      "trading_costs_quote_units": 1216.370566069636,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 43381.78719188272,
      "turnover_quote_units": 405456.85535654565,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1261,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 49749.4536940986,
      "return_pct": 397.494536940986,
      "cagr_pct": 21.269023861007977,
      "max_drawdown_pct": 70.0411825079089,
      "mean_exposure_while_solvent": 0.7500069274772029,
      "realized_annual_volatility_pct": 48.89357956687257,
      "trading_costs_quote_units": 949.6633030134585,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 40699.116997111996,
      "turnover_quote_units": 316554.4343378188,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 56352.56125329525,
      "return_pct": 463.52561253295255,
      "cagr_pct": 23.099257005464654,
      "max_drawdown_pct": 81.63733647425958,
      "mean_exposure_while_solvent": 0.9999451453647833,
      "realized_annual_volatility_pct": 65.38629783545213,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 46382.47152248738,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36768.15228068869,
      "return_pct": 267.68152280688696,
      "cagr_pct": 16.940892746493194,
      "max_drawdown_pct": 89.72919657417337,
      "mean_exposure_while_solvent": 1.2499627971670815,
      "realized_annual_volatility_pct": 82.06987078620237,
      "trading_costs_quote_units": 1249.9551051206552,
      "borrowing_costs_quote_units": 4268.712114095581,
      "price_pnl_quote_units": 32286.819499905178,
      "turnover_quote_units": 416651.7017068852,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3039,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 18324.53385921206,
      "return_pct": 83.2453385921206,
      "cagr_pct": 7.551140731893952,
      "max_drawdown_pct": 94.57647412151611,
      "mean_exposure_while_solvent": 1.5000873135817285,
      "realized_annual_volatility_pct": 99.03103251772505,
      "trading_costs_quote_units": 1816.5253328908077,
      "borrowing_costs_quote_units": 5033.547124955576,
      "price_pnl_quote_units": 15174.60631705855,
      "turnover_quote_units": 605508.4442969372,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3039,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 57622.663162633864,
      "return_pct": 476.22663162633864,
      "cagr_pct": 23.429471939802042,
      "max_drawdown_pct": 67.22721743230112,
      "mean_exposure_while_solvent": 0.7731722305205646,
      "realized_annual_volatility_pct": 43.342504625877275,
      "trading_costs_quote_units": 5326.095262137722,
      "borrowing_costs_quote_units": 3170.394844262741,
      "price_pnl_quote_units": 56119.1532690342,
      "turnover_quote_units": 1775365.0873792402,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 52697.92046502348,
      "return_pct": 426.97920465023486,
      "cagr_pct": 22.111159763904944,
      "max_drawdown_pct": 82.01185913880552,
      "mean_exposure_while_solvent": 1.083175371543314,
      "realized_annual_volatility_pct": 61.68525712447466,
      "trading_costs_quote_units": 4956.847553270937,
      "borrowing_costs_quote_units": 10550.984617156579,
      "price_pnl_quote_units": 58205.75263545071,
      "turnover_quote_units": 1652282.517756979,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29235.861025805047,
      "return_pct": 192.35861025805048,
      "cagr_pct": 13.762824411997274,
      "max_drawdown_pct": 89.82917404941654,
      "mean_exposure_while_solvent": 1.2836167574753445,
      "realized_annual_volatility_pct": 76.09678974120388,
      "trading_costs_quote_units": 3108.9516372485045,
      "borrowing_costs_quote_units": 10573.206611858976,
      "price_pnl_quote_units": 32918.01927491229,
      "turnover_quote_units": 1036317.2124161664,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2981,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 31576.550888636197,
      "return_pct": 215.76550888636197,
      "cagr_pct": 14.820839068276845,
      "max_drawdown_pct": 82.48257322519873,
      "mean_exposure_while_solvent": 1.1110239145266794,
      "realized_annual_volatility_pct": 62.28522673591681,
      "trading_costs_quote_units": 5891.790264631885,
      "borrowing_costs_quote_units": 8022.834707896038,
      "price_pnl_quote_units": 35491.175861164054,
      "turnover_quote_units": 1963930.088210632,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3013,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 69049.75418066361,
      "return_pct": 590.4975418066361,
      "cagr_pct": 26.14277554987105,
      "max_drawdown_pct": 78.40286875795874,
      "mean_exposure_while_solvent": 1.0574110180525709,
      "realized_annual_volatility_pct": 61.459702504145454,
      "trading_costs_quote_units": 4020.1254594019574,
      "borrowing_costs_quote_units": 12503.23372329328,
      "price_pnl_quote_units": 75573.11336335952,
      "turnover_quote_units": 1340041.819800653,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2921,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 52165.41662581284,
      "return_pct": 421.6541662581283,
      "cagr_pct": 21.962187146683593,
      "max_drawdown_pct": 77.42092712344044,
      "mean_exposure_while_solvent": 0.904523666013071,
      "realized_annual_volatility_pct": 53.81349270538873,
      "trading_costs_quote_units": 1216.370566069636,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 43381.78719188272,
      "turnover_quote_units": 405456.85535654565,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1261,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 49749.4536940986,
      "return_pct": 397.494536940986,
      "cagr_pct": 21.269023861007977,
      "max_drawdown_pct": 70.0411825079089,
      "mean_exposure_while_solvent": 0.7500069274772029,
      "realized_annual_volatility_pct": 48.89357956687257,
      "trading_costs_quote_units": 949.6633030134585,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 40699.116997111996,
      "turnover_quote_units": 316554.4343378188,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 56352.56125329525,
      "return_pct": 463.52561253295255,
      "cagr_pct": 23.099257005464654,
      "max_drawdown_pct": 81.63733647425958,
      "mean_exposure_while_solvent": 0.9999451453647833,
      "realized_annual_volatility_pct": 65.38629783545213,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 46382.47152248738,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29857.876465026297,
      "return_pct": 198.578764650263,
      "cagr_pct": 14.051054314995554,
      "max_drawdown_pct": 89.96939379236773,
      "mean_exposure_while_solvent": 1.2499984589390531,
      "realized_annual_volatility_pct": 82.07342800762298,
      "trading_costs_quote_units": 1102.1903462992202,
      "borrowing_costs_quote_units": 7394.759716421152,
      "price_pnl_quote_units": 28354.826527746653,
      "turnover_quote_units": 367396.78209974227,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3039,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12080.14829180707,
      "return_pct": 20.80148291807071,
      "cagr_pct": 2.2974025199121306,
      "max_drawdown_pct": 94.82787022811682,
      "mean_exposure_while_solvent": 1.5001729737019303,
      "realized_annual_volatility_pct": 99.03979595115237,
      "trading_costs_quote_units": 1432.277387881278,
      "borrowing_costs_quote_units": 7644.217154863984,
      "price_pnl_quote_units": 11156.64283455234,
      "turnover_quote_units": 477425.7959604259,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3039,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 60824.18167902388,
      "return_pct": 508.2418167902388,
      "cagr_pct": 24.234261894705597,
      "max_drawdown_pct": 67.17083032910729,
      "mean_exposure_while_solvent": 0.7730087511702469,
      "realized_annual_volatility_pct": 43.51833919683596,
      "trading_costs_quote_units": 5435.014642933294,
      "borrowing_costs_quote_units": 818.6775776825397,
      "price_pnl_quote_units": 57077.87389963974,
      "turnover_quote_units": 1811671.547644432,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 69724.15825933093,
      "return_pct": 597.2415825933093,
      "cagr_pct": 26.290225693187207,
      "max_drawdown_pct": 81.71323681890938,
      "mean_exposure_while_solvent": 1.0828369726043088,
      "realized_annual_volatility_pct": 61.80033330994949,
      "trading_costs_quote_units": 5823.864762141847,
      "borrowing_costs_quote_units": 3219.9829719775257,
      "price_pnl_quote_units": 68768.00599344989,
      "turnover_quote_units": 1941288.2540472832,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 48458.46742127193,
      "return_pct": 384.58467421271934,
      "cagr_pct": 20.886395375899326,
      "max_drawdown_pct": 89.43258267551444,
      "mean_exposure_while_solvent": 1.2832497413030848,
      "realized_annual_volatility_pct": 75.84334461944924,
      "trading_costs_quote_units": 4160.064790976871,
      "borrowing_costs_quote_units": 3799.5644541053107,
      "price_pnl_quote_units": 46418.09666635405,
      "turnover_quote_units": 1386688.2636589578,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 43045.97433128435,
      "return_pct": 330.45974331284344,
      "cagr_pct": 19.17769602697129,
      "max_drawdown_pct": 82.59663119419635,
      "mean_exposure_while_solvent": 1.1106755426289172,
      "realized_annual_volatility_pct": 62.48396049593396,
      "trading_costs_quote_units": 7003.502058990991,
      "borrowing_costs_quote_units": 2501.899483312926,
      "price_pnl_quote_units": 42551.375873588186,
      "turnover_quote_units": 2334500.686330328,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3012,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 91082.0330330428,
      "return_pct": 810.8203303304279,
      "cagr_pct": 30.412194518588226,
      "max_drawdown_pct": 78.17315835790822,
      "mean_exposure_while_solvent": 1.0571162591110423,
      "realized_annual_volatility_pct": 61.43226475631385,
      "trading_costs_quote_units": 4731.960204290192,
      "borrowing_costs_quote_units": 3820.5812545579925,
      "price_pnl_quote_units": 89634.57449189042,
      "turnover_quote_units": 1577320.0680967264,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2920,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 53958.63136528339,
      "return_pct": 439.5863136528339,
      "cagr_pct": 22.458643178798024,
      "max_drawdown_pct": 77.34572994732754,
      "mean_exposure_while_solvent": 0.9043786950181217,
      "realized_annual_volatility_pct": 53.87197550484266,
      "trading_costs_quote_units": 1259.4041550272927,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 45218.03552031091,
      "turnover_quote_units": 419801.38500909694,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1260,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 50288.64003557628,
      "return_pct": 402.8864003557628,
      "cagr_pct": 21.426249105980247,
      "max_drawdown_pct": 70.16030629909197,
      "mean_exposure_while_solvent": 0.7499201773877829,
      "realized_annual_volatility_pct": 48.94770774682638,
      "trading_costs_quote_units": 947.1412738922141,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41235.781309468584,
      "turnover_quote_units": 315713.75796407205,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 57823.43508120962,
      "return_pct": 478.23435081209624,
      "cagr_pct": 23.4810835181523,
      "max_drawdown_pct": 81.6373364742596,
      "mean_exposure_while_solvent": 0.9998354360943499,
      "realized_annual_volatility_pct": 65.3809657433707,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 47853.34535040205,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 43006.077279764875,
      "return_pct": 330.0607727976487,
      "cagr_pct": 19.16441401932095,
      "max_drawdown_pct": 89.51018022401956,
      "mean_exposure_while_solvent": 1.249824452854843,
      "realized_annual_volatility_pct": 81.9238338951249,
      "trading_costs_quote_units": 1397.5384313593133,
      "borrowing_costs_quote_units": 2421.606999740865,
      "price_pnl_quote_units": 36825.22271086457,
      "turnover_quote_units": 465846.1437864368,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 24702.387679585718,
      "return_pct": 147.02387679585715,
      "cagr_pct": 11.482044205358493,
      "max_drawdown_pct": 94.31181090649515,
      "mean_exposure_while_solvent": 1.499928731967777,
      "realized_annual_volatility_pct": 98.60625389881777,
      "trading_costs_quote_units": 2253.0072190517067,
      "borrowing_costs_quote_units": 3181.960123078472,
      "price_pnl_quote_units": 20137.35502171589,
      "turnover_quote_units": 751002.4063505671,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 59713.489936835154,
      "return_pct": 497.13489936835157,
      "cagr_pct": 23.95937322336293,
      "max_drawdown_pct": 67.1854558330236,
      "mean_exposure_while_solvent": 0.773012115224555,
      "realized_annual_volatility_pct": 43.518398071319616,
      "trading_costs_quote_units": 5377.348350153923,
      "borrowing_costs_quote_units": 1615.941757247337,
      "price_pnl_quote_units": 56706.78004423627,
      "turnover_quote_units": 1792449.4500513126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 64737.98722715531,
      "return_pct": 547.3798722715532,
      "cagr_pct": 25.168945208981135,
      "max_drawdown_pct": 81.77664795141044,
      "mean_exposure_while_solvent": 1.0828513534271473,
      "realized_annual_volatility_pct": 61.80094914169314,
      "trading_costs_quote_units": 5572.170545592298,
      "borrowing_costs_quote_units": 6102.073397996359,
      "price_pnl_quote_units": 66412.23117074335,
      "turnover_quote_units": 1857390.1818640966,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 42395.276636247334,
      "return_pct": 323.95276636247337,
      "cagr_pct": 18.959708871250534,
      "max_drawdown_pct": 89.57822763909236,
      "mean_exposure_while_solvent": 1.283276257300179,
      "realized_annual_volatility_pct": 75.8451682746868,
      "trading_costs_quote_units": 3850.9568941224734,
      "borrowing_costs_quote_units": 6915.012953831804,
      "price_pnl_quote_units": 43161.24648420194,
      "turnover_quote_units": 1283652.298040828,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 39511.1286376392,
      "return_pct": 295.111286376392,
      "cagr_pct": 17.956584115525708,
      "max_drawdown_pct": 82.68744893248056,
      "mean_exposure_while_solvent": 1.1106923284665273,
      "realized_annual_volatility_pct": 62.48490002377359,
      "trading_costs_quote_units": 6677.852497738364,
      "borrowing_costs_quote_units": 4709.768382994736,
      "price_pnl_quote_units": 40898.74951837216,
      "turnover_quote_units": 2225950.832579457,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3012,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 85370.57655374226,
      "return_pct": 753.7057655374225,
      "cagr_pct": 29.401050625398728,
      "max_drawdown_pct": 78.20358389677928,
      "mean_exposure_while_solvent": 1.057128684325471,
      "realized_annual_volatility_pct": 61.43279708069122,
      "trading_costs_quote_units": 4543.194986469482,
      "borrowing_costs_quote_units": 7288.317375408094,
      "price_pnl_quote_units": 87202.0889156199,
      "turnover_quote_units": 1514398.3288231643,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2920,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 53958.63136528339,
      "return_pct": 439.5863136528339,
      "cagr_pct": 22.458643178798024,
      "max_drawdown_pct": 77.34572994732754,
      "mean_exposure_while_solvent": 0.9043786950181217,
      "realized_annual_volatility_pct": 53.87197550484266,
      "trading_costs_quote_units": 1259.4041550272927,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 45218.03552031091,
      "turnover_quote_units": 419801.38500909694,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1260,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 50288.64003557628,
      "return_pct": 402.8864003557628,
      "cagr_pct": 21.426249105980247,
      "max_drawdown_pct": 70.16030629909197,
      "mean_exposure_while_solvent": 0.7499201773877829,
      "realized_annual_volatility_pct": 48.94770774682638,
      "trading_costs_quote_units": 947.1412738922141,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41235.781309468584,
      "turnover_quote_units": 315713.75796407205,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 57823.43508120962,
      "return_pct": 478.23435081209624,
      "cagr_pct": 23.4810835181523,
      "max_drawdown_pct": 81.6373364742596,
      "mean_exposure_while_solvent": 0.9998354360943499,
      "realized_annual_volatility_pct": 65.3809657433707,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 47853.34535040205,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 38756.0772694193,
      "return_pct": 287.560772694193,
      "cagr_pct": 17.683345437966207,
      "max_drawdown_pct": 89.63356768969271,
      "mean_exposure_while_solvent": 1.2498422925416104,
      "realized_annual_volatility_pct": 81.92539568756234,
      "trading_costs_quote_units": 1310.5700438878396,
      "borrowing_costs_quote_units": 4503.411433924809,
      "price_pnl_quote_units": 34570.058747231946,
      "turnover_quote_units": 436856.681295946,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20058.51754888698,
      "return_pct": 100.58517548886981,
      "cagr_pct": 8.72628578737633,
      "max_drawdown_pct": 94.4451957335661,
      "mean_exposure_while_solvent": 1.4999715844000359,
      "realized_annual_volatility_pct": 98.61005456156477,
      "trading_costs_quote_units": 1990.45237384786,
      "borrowing_costs_quote_units": 5523.292382652991,
      "price_pnl_quote_units": 17572.262305387947,
      "turnover_quote_units": 663484.1246159533,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 57552.0006969215,
      "return_pct": 475.520006969215,
      "cagr_pct": 23.411269396490635,
      "max_drawdown_pct": 67.21469385684048,
      "mean_exposure_while_solvent": 0.7730188445300668,
      "realized_annual_volatility_pct": 43.51852555571372,
      "trading_costs_quote_units": 5264.273231449169,
      "borrowing_costs_quote_units": 3148.030414963586,
      "price_pnl_quote_units": 55964.30434333431,
      "turnover_quote_units": 1754757.7438163913,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 55807.32438698774,
      "return_pct": 458.07324386987744,
      "cagr_pct": 22.955487720105857,
      "max_drawdown_pct": 81.90284700895846,
      "mean_exposure_while_solvent": 1.0828801207632686,
      "realized_annual_volatility_pct": 61.802204298327624,
      "trading_costs_quote_units": 5107.68214746159,
      "borrowing_costs_quote_units": 10964.89617441487,
      "price_pnl_quote_units": 61879.90270886437,
      "turnover_quote_units": 1702560.7158205272,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 32447.102929205277,
      "return_pct": 224.47102929205278,
      "cagr_pct": 15.19678476554594,
      "max_drawdown_pct": 89.86359411982842,
      "mean_exposure_while_solvent": 1.2833293001927608,
      "realized_annual_volatility_pct": 75.84883527813085,
      "trading_costs_quote_units": 3314.2457912421914,
      "borrowing_costs_quote_units": 11486.320981846093,
      "price_pnl_quote_units": 37247.66970229332,
      "turnover_quote_units": 1104748.5970807285,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2980,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33286.64275145781,
      "return_pct": 232.8664275145781,
      "cagr_pct": 15.55102437839944,
      "max_drawdown_pct": 82.86770861729681,
      "mean_exposure_while_solvent": 1.1107259069076014,
      "realized_annual_volatility_pct": 62.48680452929184,
      "trading_costs_quote_units": 6081.957113979065,
      "borrowing_costs_quote_units": 8354.206218898787,
      "price_pnl_quote_units": 37722.80608433592,
      "turnover_quote_units": 2027319.0379930246,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3012,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 74996.67120776893,
      "return_pct": 649.9667120776893,
      "cagr_pct": 27.401614282996434,
      "max_drawdown_pct": 78.26432016547567,
      "mean_exposure_while_solvent": 1.0571535395842389,
      "realized_annual_volatility_pct": 61.43388329150824,
      "trading_costs_quote_units": 4192.53315644123,
      "borrowing_costs_quote_units": 13268.201193505252,
      "price_pnl_quote_units": 82457.40555771544,
      "turnover_quote_units": 1397511.0521470772,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2920,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 53958.63136528339,
      "return_pct": 439.5863136528339,
      "cagr_pct": 22.458643178798024,
      "max_drawdown_pct": 77.34572994732754,
      "mean_exposure_while_solvent": 0.9043786950181217,
      "realized_annual_volatility_pct": 53.87197550484266,
      "trading_costs_quote_units": 1259.4041550272927,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 45218.03552031091,
      "turnover_quote_units": 419801.38500909694,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1260,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 50288.64003557628,
      "return_pct": 402.8864003557628,
      "cagr_pct": 21.426249105980247,
      "max_drawdown_pct": 70.16030629909197,
      "mean_exposure_while_solvent": 0.7499201773877829,
      "realized_annual_volatility_pct": 48.94770774682638,
      "trading_costs_quote_units": 947.1412738922141,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41235.781309468584,
      "turnover_quote_units": 315713.75796407205,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 57823.43508120962,
      "return_pct": 478.23435081209624,
      "cagr_pct": 23.4810835181523,
      "max_drawdown_pct": 81.6373364742596,
      "mean_exposure_while_solvent": 0.9998354360943499,
      "realized_annual_volatility_pct": 65.3809657433707,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 47853.34535040205,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 31472.82610716066,
      "return_pct": 214.72826107160662,
      "cagr_pct": 14.77543964845189,
      "max_drawdown_pct": 89.8760620229338,
      "mean_exposure_while_solvent": 1.2498779774231947,
      "realized_annual_volatility_pct": 81.9285202405725,
      "trading_costs_quote_units": 1155.5554170518292,
      "borrowing_costs_quote_units": 7801.886536859494,
      "price_pnl_quote_units": 30430.268061072,
      "turnover_quote_units": 385185.13901727594,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13223.901925568607,
      "return_pct": 32.23901925568606,
      "cagr_pct": 3.415757339402059,
      "max_drawdown_pct": 94.70272833432392,
      "mean_exposure_while_solvent": 1.5000573079114834,
      "realized_annual_volatility_pct": 98.6176589585536,
      "trading_costs_quote_units": 1569.3835902411959,
      "borrowing_costs_quote_units": 8389.987230975425,
      "price_pnl_quote_units": 13183.272746785213,
      "turnover_quote_units": 523127.8634137322,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3038,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 2
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 52150.00404242411,
      "return_pct": 421.5000404242411,
      "cagr_pct": 21.95785545278979,
      "max_drawdown_pct": 75.80991348886128,
      "mean_exposure_while_solvent": 0.8353928015892098,
      "realized_annual_volatility_pct": 53.24440686083628,
      "trading_costs_quote_units": 929.0855048007153,
      "borrowing_costs_quote_units": 671.154972100976,
      "price_pnl_quote_units": 43750.24451932587,
      "turnover_quote_units": 1548475.8413345297,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 67333.03742353388,
      "return_pct": 573.3303742353388,
      "cagr_pct": 25.761638823690514,
      "max_drawdown_pct": 81.45800113270651,
      "mean_exposure_while_solvent": 1.1108076295887825,
      "realized_annual_volatility_pct": 66.08646504049155,
      "trading_costs_quote_units": 1175.447461088804,
      "borrowing_costs_quote_units": 3445.813771043241,
      "price_pnl_quote_units": 61954.29865566559,
      "turnover_quote_units": 1959079.1018146726,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 53682.17255638137,
      "return_pct": 436.8217255638137,
      "cagr_pct": 22.383060343981988,
      "max_drawdown_pct": 89.19350276749906,
      "mean_exposure_while_solvent": 1.2775984094565391,
      "realized_annual_volatility_pct": 75.71671613135653,
      "trading_costs_quote_units": 926.5995471103255,
      "borrowing_costs_quote_units": 4650.631740167913,
      "price_pnl_quote_units": 49259.4038436595,
      "turnover_quote_units": 1544332.5785172125,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 62300.56827765235,
      "return_pct": 523.0056827765235,
      "cagr_pct": 24.592899955213436,
      "max_drawdown_pct": 81.55635351573903,
      "mean_exposure_while_solvent": 1.1239651259656884,
      "realized_annual_volatility_pct": 64.43188221295007,
      "trading_costs_quote_units": 1904.02003055041,
      "borrowing_costs_quote_units": 3638.7285960298555,
      "price_pnl_quote_units": 57843.316904232415,
      "turnover_quote_units": 3173366.717584015,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2792,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 72280.3136985587,
      "return_pct": 622.803136985587,
      "cagr_pct": 26.837941521098568,
      "max_drawdown_pct": 82.46997928781103,
      "mean_exposure_while_solvent": 1.1159523765185655,
      "realized_annual_volatility_pct": 68.32837385481729,
      "trading_costs_quote_units": 790.6022228410668,
      "borrowing_costs_quote_units": 3713.055191297928,
      "price_pnl_quote_units": 66783.97111269807,
      "turnover_quote_units": 1317670.3714017738,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2088,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 47386.12393673474,
      "return_pct": 373.8612393673474,
      "cagr_pct": 20.56168865750245,
      "max_drawdown_pct": 79.73790555985265,
      "mean_exposure_while_solvent": 0.9408863001244111,
      "realized_annual_volatility_pct": 59.4724653921333,
      "trading_costs_quote_units": 208.68128130527126,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 37594.805218040085,
      "turnover_quote_units": 347802.135508786,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 904,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 51774.829506406306,
      "return_pct": 417.7482950640631,
      "cagr_pct": 21.85206399786115,
      "max_drawdown_pct": 69.54769342619214,
      "mean_exposure_while_solvent": 0.7500031169154988,
      "realized_annual_volatility_pct": 48.610929425459645,
      "trading_costs_quote_units": 193.5813374076569,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41968.4108438142,
      "turnover_quote_units": 322635.5623460936,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 56980.789032687455,
      "return_pct": 469.8078903268746,
      "cagr_pct": 23.26339987262201,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9999450549450549,
      "realized_annual_volatility_pct": 65.0117809682482,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 46986.78543484617,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 43613.549022425126,
      "return_pct": 336.1354902242512,
      "cagr_pct": 19.36548201764941,
      "max_drawdown_pct": 89.40363417410484,
      "mean_exposure_while_solvent": 1.2499505527366588,
      "realized_annual_volatility_pct": 81.60044129460272,
      "trading_costs_quote_units": 276.30276866567425,
      "borrowing_costs_quote_units": 2401.6931584023537,
      "price_pnl_quote_units": 36291.54494949326,
      "turnover_quote_units": 460504.6144427906,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25987.984136890962,
      "return_pct": 159.87984136890964,
      "cagr_pct": 12.163935938347752,
      "max_drawdown_pct": 94.28556929402454,
      "mean_exposure_while_solvent": 1.500057435215913,
      "realized_annual_volatility_pct": 98.46901512789354,
      "trading_costs_quote_units": 446.70533843974675,
      "borrowing_costs_quote_units": 3197.887180007518,
      "price_pnl_quote_units": 19632.576655338224,
      "turnover_quote_units": 744508.8973995772,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 51338.17883315626,
      "return_pct": 413.3817883315626,
      "cagr_pct": 21.7280849006455,
      "max_drawdown_pct": 75.8142950694999,
      "mean_exposure_while_solvent": 0.8353956327937785,
      "realized_annual_volatility_pct": 53.24448694893531,
      "trading_costs_quote_units": 921.8879223937599,
      "borrowing_costs_quote_units": 1328.0426468365044,
      "price_pnl_quote_units": 43588.109402386464,
      "turnover_quote_units": 1536479.870656266,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 62747.37952804279,
      "return_pct": 527.4737952804279,
      "cagr_pct": 24.6999637276919,
      "max_drawdown_pct": 81.5233899033787,
      "mean_exposure_while_solvent": 1.1108213381402285,
      "realized_annual_volatility_pct": 66.08711713237986,
      "trading_costs_quote_units": 1129.4622358699078,
      "borrowing_costs_quote_units": 6555.56007831023,
      "price_pnl_quote_units": 60432.401842223,
      "turnover_quote_units": 1882437.0597831788,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 47422.90973283011,
      "return_pct": 374.229097328301,
      "cagr_pct": 20.57293401782178,
      "max_drawdown_pct": 89.34476982698388,
      "mean_exposure_while_solvent": 1.2776232353839931,
      "realized_annual_volatility_pct": 75.71842998983908,
      "trading_costs_quote_units": 866.4753333343081,
      "borrowing_costs_quote_units": 8532.118473633003,
      "price_pnl_quote_units": 46821.503539798054,
      "turnover_quote_units": 1444125.555557181,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 57290.23916605199,
      "return_pct": 472.9023916605199,
      "cagr_pct": 23.34366824343937,
      "max_drawdown_pct": 81.65361620948612,
      "mean_exposure_while_solvent": 1.1239816950556478,
      "realized_annual_volatility_pct": 64.43294532696183,
      "trading_costs_quote_units": 1817.1025688956609,
      "borrowing_costs_quote_units": 6858.0609466635005,
      "price_pnl_quote_units": 55965.4026816117,
      "turnover_quote_units": 3028504.281492766,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2792,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 68007.02516756827,
      "return_pct": 580.0702516756827,
      "cagr_pct": 25.912282436789276,
      "max_drawdown_pct": 82.4844561151636,
      "mean_exposure_while_solvent": 1.1159640883219029,
      "realized_annual_volatility_pct": 68.32888022168073,
      "trading_costs_quote_units": 762.7251119030376,
      "borrowing_costs_quote_units": 7119.112686930634,
      "price_pnl_quote_units": 65888.8629664016,
      "turnover_quote_units": 1271208.5198383986,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2088,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 47386.12393673474,
      "return_pct": 373.8612393673474,
      "cagr_pct": 20.56168865750245,
      "max_drawdown_pct": 79.73790555985265,
      "mean_exposure_while_solvent": 0.9408863001244111,
      "realized_annual_volatility_pct": 59.4724653921333,
      "trading_costs_quote_units": 208.68128130527126,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 37594.805218040085,
      "turnover_quote_units": 347802.135508786,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 904,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 51774.829506406306,
      "return_pct": 417.7482950640631,
      "cagr_pct": 21.85206399786115,
      "max_drawdown_pct": 69.54769342619214,
      "mean_exposure_while_solvent": 0.7500031169154988,
      "realized_annual_volatility_pct": 48.610929425459645,
      "trading_costs_quote_units": 193.5813374076569,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41968.4108438142,
      "turnover_quote_units": 322635.5623460936,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 56980.789032687455,
      "return_pct": 469.8078903268746,
      "cagr_pct": 23.26339987262201,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9999450549450549,
      "realized_annual_volatility_pct": 65.0117809682482,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 46986.78543484617,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 39303.21684516049,
      "return_pct": 293.0321684516049,
      "cagr_pct": 17.881806314911977,
      "max_drawdown_pct": 89.52823674060855,
      "mean_exposure_while_solvent": 1.2499685445491615,
      "realized_annual_volatility_pct": 81.60220823785171,
      "trading_costs_quote_units": 259.0016147719201,
      "borrowing_costs_quote_units": 4464.860225641644,
      "price_pnl_quote_units": 34027.07868557406,
      "turnover_quote_units": 431669.3579532011,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 21102.186679565428,
      "return_pct": 111.02186679565426,
      "cagr_pct": 9.391169294538985,
      "max_drawdown_pct": 94.41953404589,
      "mean_exposure_while_solvent": 1.5001006502345406,
      "realized_annual_volatility_pct": 98.47337218141611,
      "trading_costs_quote_units": 393.8048494510206,
      "borrowing_costs_quote_units": 5541.438018084319,
      "price_pnl_quote_units": 17037.429547100826,
      "turnover_quote_units": 656341.4157516991,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 49751.86524438975,
      "return_pct": 397.5186524438975,
      "cagr_pct": 21.269730393227317,
      "max_drawdown_pct": 75.82305766577562,
      "mean_exposure_while_solvent": 0.8354012961844487,
      "realized_annual_volatility_pct": 53.24465380357215,
      "trading_costs_quote_units": 907.7301051721653,
      "borrowing_costs_quote_units": 2600.007361460048,
      "price_pnl_quote_units": 43259.60271102182,
      "turnover_quote_units": 1512883.5086202766,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 54489.639599829585,
      "return_pct": 444.8963959982959,
      "cagr_pct": 22.602868161263483,
      "max_drawdown_pct": 81.65350681103878,
      "mean_exposure_while_solvent": 1.1108487606741373,
      "realized_annual_volatility_pct": 66.08844280125054,
      "trading_costs_quote_units": 1044.1460701725064,
      "borrowing_costs_quote_units": 11871.217956633653,
      "price_pnl_quote_units": 57405.0036266357,
      "turnover_quote_units": 1740243.4502875071,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 37006.22218888502,
      "return_pct": 270.06222188885016,
      "cagr_pct": 17.031643174007222,
      "max_drawdown_pct": 89.64105469526672,
      "mean_exposure_while_solvent": 1.277672897587317,
      "realized_annual_volatility_pct": 75.72187942844911,
      "trading_costs_quote_units": 760.5692602905833,
      "borrowing_costs_quote_units": 14394.033062851493,
      "price_pnl_quote_units": 42160.824512027524,
      "turnover_quote_units": 1267615.4338176348,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 48443.76257163858,
      "return_pct": 384.43762571638575,
      "cagr_pct": 20.881985669599587,
      "max_drawdown_pct": 81.84665171827102,
      "mean_exposure_while_solvent": 1.1240148400452825,
      "realized_annual_volatility_pct": 64.43509649131127,
      "trading_costs_quote_units": 1657.7823120132193,
      "borrowing_costs_quote_units": 12192.545136564957,
      "price_pnl_quote_units": 52294.09002021638,
      "turnover_quote_units": 2762970.5200220332,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2792,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 60201.555118243195,
      "return_pct": 502.015551182432,
      "cagr_pct": 24.080715387284958,
      "max_drawdown_pct": 82.51338013151285,
      "mean_exposure_while_solvent": 1.1159875164824604,
      "realized_annual_volatility_pct": 68.32991151913673,
      "trading_costs_quote_units": 710.486662836395,
      "borrowing_costs_quote_units": 13091.453001399204,
      "price_pnl_quote_units": 64003.4947824788,
      "turnover_quote_units": 1184144.4380606574,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2088,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 47386.12393673474,
      "return_pct": 373.8612393673474,
      "cagr_pct": 20.56168865750245,
      "max_drawdown_pct": 79.73790555985265,
      "mean_exposure_while_solvent": 0.9408863001244111,
      "realized_annual_volatility_pct": 59.4724653921333,
      "trading_costs_quote_units": 208.68128130527126,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 37594.805218040085,
      "turnover_quote_units": 347802.135508786,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 904,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 51774.829506406306,
      "return_pct": 417.7482950640631,
      "cagr_pct": 21.85206399786115,
      "max_drawdown_pct": 69.54769342619214,
      "mean_exposure_while_solvent": 0.7500031169154988,
      "realized_annual_volatility_pct": 48.610929425459645,
      "trading_costs_quote_units": 193.5813374076569,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41968.4108438142,
      "turnover_quote_units": 322635.5623460936,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 56980.789032687455,
      "return_pct": 469.8078903268746,
      "cagr_pct": 23.26339987262201,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9999450549450549,
      "realized_annual_volatility_pct": 65.0117809682482,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 46986.78543484617,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 31916.880754421203,
      "return_pct": 219.16880754421203,
      "cagr_pct": 14.9688825544695,
      "max_drawdown_pct": 89.77312041397909,
      "mean_exposure_while_solvent": 1.2500045338397154,
      "realized_annual_volatility_pct": 81.60574291510149,
      "trading_costs_quote_units": 228.1740854220607,
      "borrowing_costs_quote_units": 7729.7426151608815,
      "price_pnl_quote_units": 29874.797455004344,
      "turnover_quote_units": 380290.1423701014,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13911.868863893746,
      "return_pct": 39.118688638937456,
      "cagr_pct": 4.048086045908155,
      "max_drawdown_pct": 94.6781888109846,
      "mean_exposure_while_solvent": 1.5001870994408018,
      "realized_annual_volatility_pct": 98.48208913149105,
      "trading_costs_quote_units": 309.2200785609905,
      "borrowing_costs_quote_units": 8387.639766951375,
      "price_pnl_quote_units": 12608.72870940618,
      "turnover_quote_units": 515366.7976016523,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 48940.12337465449,
      "return_pct": 389.40123374654485,
      "cagr_pct": 21.030188040536878,
      "max_drawdown_pct": 76.18076062054497,
      "mean_exposure_while_solvent": 0.83525154864531,
      "realized_annual_volatility_pct": 53.284662842289855,
      "trading_costs_quote_units": 860.6791278774227,
      "borrowing_costs_quote_units": 625.1420351392401,
      "price_pnl_quote_units": 40425.94453767123,
      "turnover_quote_units": 1434465.2131290375,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 64010.31649811943,
      "return_pct": 540.1031649811943,
      "cagr_pct": 24.998998425613657,
      "max_drawdown_pct": 81.35132738000654,
      "mean_exposure_while_solvent": 1.1105573381746339,
      "realized_annual_volatility_pct": 66.15287041565509,
      "trading_costs_quote_units": 1098.335095806009,
      "borrowing_costs_quote_units": 3247.596505417667,
      "price_pnl_quote_units": 58356.2480993427,
      "turnover_quote_units": 1830558.493010012,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 49575.14828645658,
      "return_pct": 395.7514828645658,
      "cagr_pct": 21.21787616311206,
      "max_drawdown_pct": 89.22527971401692,
      "mean_exposure_while_solvent": 1.2773974293841839,
      "realized_annual_volatility_pct": 75.79329120415647,
      "trading_costs_quote_units": 847.2974042127923,
      "borrowing_costs_quote_units": 4287.460614846058,
      "price_pnl_quote_units": 44709.90630551556,
      "turnover_quote_units": 1412162.3403546556,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 65954.2258786234,
      "return_pct": 559.542258786234,
      "cagr_pct": 25.449280283753716,
      "max_drawdown_pct": 81.96231796997208,
      "mean_exposure_while_solvent": 1.1237153658745977,
      "realized_annual_volatility_pct": 64.58869964766399,
      "trading_costs_quote_units": 1990.482649644324,
      "borrowing_costs_quote_units": 3832.1078995116623,
      "price_pnl_quote_units": 61776.81642777975,
      "turnover_quote_units": 3317471.082740549,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2800,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 71265.84377206268,
      "return_pct": 612.6584377206268,
      "cagr_pct": 26.622639304829637,
      "max_drawdown_pct": 82.42643361210102,
      "mean_exposure_while_solvent": 1.115820474188337,
      "realized_annual_volatility_pct": 68.3162560985151,
      "trading_costs_quote_units": 759.1667664703615,
      "borrowing_costs_quote_units": 3629.4567464216148,
      "price_pnl_quote_units": 65654.46728495385,
      "turnover_quote_units": 1265277.9441172674,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2095,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 43320.173230727465,
      "return_pct": 333.20173230727465,
      "cagr_pct": 19.268686868014225,
      "max_drawdown_pct": 79.94949500692576,
      "mean_exposure_while_solvent": 0.9407902616249043,
      "realized_annual_volatility_pct": 59.495076582772185,
      "trading_costs_quote_units": 192.45105198269502,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 33512.6242827105,
      "turnover_quote_units": 320751.75330449245,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 910,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 51970.303474855544,
      "return_pct": 419.70303474855547,
      "cagr_pct": 21.90726745772425,
      "max_drawdown_pct": 69.76564738078011,
      "mean_exposure_while_solvent": 0.749919930201618,
      "realized_annual_volatility_pct": 48.6636511417856,
      "trading_costs_quote_units": 192.03266940614546,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 42162.33614426179,
      "turnover_quote_units": 320054.4490102416,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 58371.65021889712,
      "return_pct": 483.7165021889712,
      "cagr_pct": 23.62121204722902,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9998351648351648,
      "realized_annual_volatility_pct": 65.0053798509171,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 48377.64662105604,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 46223.15520211018,
      "return_pct": 362.2315520211018,
      "cagr_pct": 20.202149858975144,
      "max_drawdown_pct": 89.2558002903449,
      "mean_exposure_while_solvent": 1.249822631899243,
      "realized_annual_volatility_pct": 81.4536731472599,
      "trading_costs_quote_units": 291.2675694880915,
      "borrowing_costs_quote_units": 2546.7945203288023,
      "price_pnl_quote_units": 39061.2172919271,
      "turnover_quote_units": 485445.94914682,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 28973.093041616194,
      "return_pct": 189.73093041616193,
      "cagr_pct": 13.639439036445475,
      "max_drawdown_pct": 94.07976814340824,
      "mean_exposure_while_solvent": 1.4999228613727513,
      "realized_annual_volatility_pct": 98.03812006525374,
      "trading_costs_quote_units": 497.69406469846643,
      "borrowing_costs_quote_units": 3569.9258379113357,
      "price_pnl_quote_units": 23040.71294422595,
      "turnover_quote_units": 829490.1078307765,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 48178.46291373708,
      "return_pct": 381.78462913737076,
      "cagr_pct": 20.802224346446387,
      "max_drawdown_pct": 76.1850728715678,
      "mean_exposure_while_solvent": 0.8352543777938257,
      "realized_annual_volatility_pct": 53.28469659834163,
      "trading_costs_quote_units": 854.0097972760328,
      "borrowing_costs_quote_units": 1236.9721765413738,
      "price_pnl_quote_units": 40269.444887554404,
      "turnover_quote_units": 1423349.6621267225,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 59653.59607027163,
      "return_pct": 496.5359607027163,
      "cagr_pct": 23.9444224274226,
      "max_drawdown_pct": 81.4166760080061,
      "mean_exposure_while_solvent": 1.1105710093218029,
      "realized_annual_volatility_pct": 66.15331322156747,
      "trading_costs_quote_units": 1055.3066698944954,
      "borrowing_costs_quote_units": 6178.260389229548,
      "price_pnl_quote_units": 56887.16312939575,
      "turnover_quote_units": 1758844.4498241663,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 43795.499573557405,
      "return_pct": 337.954995735574,
      "cagr_pct": 19.42522657774701,
      "max_drawdown_pct": 89.376151505895,
      "mean_exposure_while_solvent": 1.277422176249827,
      "realized_annual_volatility_pct": 75.79467749089581,
      "trading_costs_quote_units": 792.2662129401295,
      "borrowing_costs_quote_units": 7865.698338350642,
      "price_pnl_quote_units": 42453.46412484837,
      "turnover_quote_units": 1320443.6882335495,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 60651.34993148588,
      "return_pct": 506.5134993148588,
      "cagr_pct": 24.19177886681275,
      "max_drawdown_pct": 82.05737474065712,
      "mean_exposure_while_solvent": 1.123731815987395,
      "realized_annual_volatility_pct": 64.589561710008,
      "trading_costs_quote_units": 1899.2536840906973,
      "borrowing_costs_quote_units": 7220.687051045581,
      "price_pnl_quote_units": 59771.29066662227,
      "turnover_quote_units": 3165422.8068178245,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2800,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 67053.15502192639,
      "return_pct": 570.5315502192639,
      "cagr_pct": 25.698691917897023,
      "max_drawdown_pct": 82.44094382420715,
      "mean_exposure_while_solvent": 1.1158321721102775,
      "realized_annual_volatility_pct": 68.31660051143648,
      "trading_costs_quote_units": 732.3172096048853,
      "borrowing_costs_quote_units": 6958.376200483649,
      "price_pnl_quote_units": 64743.8484320152,
      "turnover_quote_units": 1220528.6826748105,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2095,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 43320.173230727465,
      "return_pct": 333.20173230727465,
      "cagr_pct": 19.268686868014225,
      "max_drawdown_pct": 79.94949500692576,
      "mean_exposure_while_solvent": 0.9407902616249043,
      "realized_annual_volatility_pct": 59.495076582772185,
      "trading_costs_quote_units": 192.45105198269502,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 33512.6242827105,
      "turnover_quote_units": 320751.75330449245,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 910,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 51970.303474855544,
      "return_pct": 419.70303474855547,
      "cagr_pct": 21.90726745772425,
      "max_drawdown_pct": 69.76564738078011,
      "mean_exposure_while_solvent": 0.749919930201618,
      "realized_annual_volatility_pct": 48.6636511417856,
      "trading_costs_quote_units": 192.03266940614546,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 42162.33614426179,
      "turnover_quote_units": 320054.4490102416,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 58371.65021889712,
      "return_pct": 483.7165021889712,
      "cagr_pct": 23.62121204722902,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9998351648351648,
      "realized_annual_volatility_pct": 65.0053798509171,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 48377.64662105604,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 41655.709184201405,
      "return_pct": 316.5570918420141,
      "cagr_pct": 18.708346548604784,
      "max_drawdown_pct": 89.382065967593,
      "mean_exposure_while_solvent": 1.249840506061647,
      "realized_annual_volatility_pct": 81.45521718919001,
      "trading_costs_quote_units": 273.02139318704616,
      "borrowing_costs_quote_units": 4734.7438353647585,
      "price_pnl_quote_units": 36663.474412753145,
      "turnover_quote_units": 455035.6553117426,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 23527.258520569216,
      "return_pct": 135.27258520569214,
      "cagr_pct": 10.830859393080175,
      "max_drawdown_pct": 94.21843588417279,
      "mean_exposure_while_solvent": 1.499965793741659,
      "realized_annual_volatility_pct": 98.04187487121852,
      "trading_costs_quote_units": 438.782023605011,
      "borrowing_costs_quote_units": 6186.554109503235,
      "price_pnl_quote_units": 20152.594653677676,
      "turnover_quote_units": 731303.372675019,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 46690.17365831057,
      "return_pct": 366.9017365831056,
      "cagr_pct": 20.34747731109375,
      "max_drawdown_pct": 76.19369681908297,
      "mean_exposure_while_solvent": 0.8352600370719214,
      "realized_annual_volatility_pct": 53.284770771630804,
      "trading_costs_quote_units": 840.8877065021424,
      "borrowing_costs_quote_units": 2421.622899396603,
      "price_pnl_quote_units": 39952.68426420935,
      "turnover_quote_units": 1401479.5108369042,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 51807.64043958139,
      "return_pct": 418.0764043958138,
      "cagr_pct": 21.861342868022923,
      "max_drawdown_pct": 81.54671996109558,
      "mean_exposure_while_solvent": 1.110598357022003,
      "realized_annual_volatility_pct": 66.15422027253304,
      "trading_costs_quote_units": 975.471648966309,
      "borrowing_costs_quote_units": 11187.227358291295,
      "price_pnl_quote_units": 53970.33944683929,
      "turnover_quote_units": 1625786.0816105166,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 34176.7768419733,
      "return_pct": 241.767768419733,
      "cagr_pct": 15.918127761499932,
      "max_drawdown_pct": 89.67166176054923,
      "mean_exposure_while_solvent": 1.2774716802479966,
      "realized_annual_volatility_pct": 75.79747171247654,
      "trading_costs_quote_units": 695.3737362604044,
      "borrowing_costs_quote_units": 13269.337607517351,
      "price_pnl_quote_units": 38141.48818575118,
      "turnover_quote_units": 1158956.2271006736,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 51288.10861126403,
      "return_pct": 412.88108611264033,
      "cagr_pct": 21.713809128983065,
      "max_drawdown_pct": 82.24603531688534,
      "mean_exposure_while_solvent": 1.1237647228646948,
      "realized_annual_volatility_pct": 64.59131057939933,
      "trading_costs_quote_units": 1732.0476975538197,
      "borrowing_costs_quote_units": 12830.46418981338,
      "price_pnl_quote_units": 55850.62049863167,
      "turnover_quote_units": 2886746.1625897116,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2800,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 59358.23919748182,
      "return_pct": 493.58239197481817,
      "cagr_pct": 23.87050129574517,
      "max_drawdown_pct": 82.46993455017221,
      "mean_exposure_while_solvent": 1.1158555724970405,
      "realized_annual_volatility_pct": 68.31730783246465,
      "trading_costs_quote_units": 682.0592644887575,
      "borrowing_costs_quote_units": 12794.160811983988,
      "price_pnl_quote_units": 62834.45927395511,
      "turnover_quote_units": 1136765.440814595,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2095,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 43320.173230727465,
      "return_pct": 333.20173230727465,
      "cagr_pct": 19.268686868014225,
      "max_drawdown_pct": 79.94949500692576,
      "mean_exposure_while_solvent": 0.9407902616249043,
      "realized_annual_volatility_pct": 59.495076582772185,
      "trading_costs_quote_units": 192.45105198269502,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 33512.6242827105,
      "turnover_quote_units": 320751.75330449245,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 910,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 51970.303474855544,
      "return_pct": 419.70303474855547,
      "cagr_pct": 21.90726745772425,
      "max_drawdown_pct": 69.76564738078011,
      "mean_exposure_while_solvent": 0.749919930201618,
      "realized_annual_volatility_pct": 48.6636511417856,
      "trading_costs_quote_units": 192.03266940614546,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 42162.33614426179,
      "turnover_quote_units": 320054.4490102416,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 58371.65021889712,
      "return_pct": 483.7165021889712,
      "cagr_pct": 23.62121204722902,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9998351648351648,
      "realized_annual_volatility_pct": 65.0053798509171,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 48377.64662105604,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33828.57879413896,
      "return_pct": 238.2857879413896,
      "cagr_pct": 15.775539273951928,
      "max_drawdown_pct": 89.63021891434792,
      "mean_exposure_while_solvent": 1.2498762599444988,
      "realized_annual_volatility_pct": 81.45830594773672,
      "trading_costs_quote_units": 240.49819916233446,
      "borrowing_costs_quote_units": 8197.394662060071,
      "price_pnl_quote_units": 32266.47165536122,
      "turnover_quote_units": 400830.33193722554,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 15512.197208175163,
      "return_pct": 55.12197208175162,
      "cagr_pct": 5.418739244385773,
      "max_drawdown_pct": 94.48617694033248,
      "mean_exposure_while_solvent": 1.5000516772899832,
      "realized_annual_volatility_pct": 98.04938683355616,
      "trading_costs_quote_units": 344.4575988715552,
      "borrowing_costs_quote_units": 9364.672970409167,
      "price_pnl_quote_units": 15221.327777455801,
      "turnover_quote_units": 574095.9981192569,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 45217.99524766956,
      "return_pct": 352.1799524766956,
      "cagr_pct": 19.884928174975585,
      "max_drawdown_pct": 76.21560303687691,
      "mean_exposure_while_solvent": 0.8353928015892098,
      "realized_annual_volatility_pct": 53.24516958879681,
      "trading_costs_quote_units": 4195.846830966986,
      "borrowing_costs_quote_units": 594.0409708064711,
      "price_pnl_quote_units": 40007.88304944268,
      "turnover_quote_units": 1398615.6103223278,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 58430.45957091094,
      "return_pct": 484.30459570910944,
      "cagr_pct": 23.63617538095168,
      "max_drawdown_pct": 81.76068087351258,
      "mean_exposure_while_solvent": 1.1108076295887825,
      "realized_annual_volatility_pct": 66.0846051066929,
      "trading_costs_quote_units": 5301.003685536966,
      "borrowing_costs_quote_units": 3058.3754296995953,
      "price_pnl_quote_units": 56789.83868614685,
      "turnover_quote_units": 1767001.228512324,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 46949.52317783925,
      "return_pct": 369.4952317783925,
      "cagr_pct": 20.42763062309465,
      "max_drawdown_pct": 89.41606489329891,
      "mean_exposure_while_solvent": 1.2775984094565391,
      "realized_annual_volatility_pct": 75.7189311819375,
      "trading_costs_quote_units": 4216.741954113593,
      "borrowing_costs_quote_units": 4162.4391370944295,
      "price_pnl_quote_units": 45328.70426904671,
      "turnover_quote_units": 1405580.6513711985,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 48496.92022302472,
      "return_pct": 384.9692022302472,
      "cagr_pct": 20.89792108180728,
      "max_drawdown_pct": 82.13534364670664,
      "mean_exposure_while_solvent": 1.1239651259656884,
      "realized_annual_volatility_pct": 64.43179528481315,
      "trading_costs_quote_units": 7965.640069747514,
      "borrowing_costs_quote_units": 2951.7119103841183,
      "price_pnl_quote_units": 49414.27220315576,
      "turnover_quote_units": 2655213.356582509,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2792,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 66824.17244198697,
      "return_pct": 568.2417244198697,
      "cagr_pct": 25.64702046756234,
      "max_drawdown_pct": 82.56853351077042,
      "mean_exposure_while_solvent": 1.1159523765185655,
      "realized_annual_volatility_pct": 68.32807621035681,
      "trading_costs_quote_units": 3729.817645197424,
      "borrowing_costs_quote_units": 3480.679591345593,
      "price_pnl_quote_units": 64034.66967852987,
      "turnover_quote_units": 1243272.5483991415,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2088,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 45088.29673503034,
      "return_pct": 350.8829673503033,
      "cagr_pct": 19.843545339663525,
      "max_drawdown_pct": 79.9578728748491,
      "mean_exposure_while_solvent": 0.9408863001244111,
      "realized_annual_volatility_pct": 59.473309013575026,
      "trading_costs_quote_units": 1009.8144179713598,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36098.11115300193,
      "turnover_quote_units": 336604.80599045294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 904,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 50070.166628890154,
      "return_pct": 400.7016662889016,
      "cagr_pct": 21.36272243948397,
      "max_drawdown_pct": 69.70341899260823,
      "mean_exposure_while_solvent": 0.7500031169154988,
      "realized_annual_volatility_pct": 48.61195323343561,
      "trading_costs_quote_units": 946.0383900778738,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41016.2050189679,
      "turnover_quote_units": 315346.1300259576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 56844.44417358631,
      "return_pct": 468.44444173586305,
      "cagr_pct": 23.22791155741672,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9999450549450549,
      "realized_annual_volatility_pct": 65.01186488173273,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 46874.354442779106,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 41237.87173298017,
      "return_pct": 312.3787173298017,
      "cagr_pct": 18.564591985351893,
      "max_drawdown_pct": 89.49534851993113,
      "mean_exposure_while_solvent": 1.2499505527366588,
      "realized_annual_volatility_pct": 81.60260764334937,
      "trading_costs_quote_units": 1328.4163339030065,
      "borrowing_costs_quote_units": 2299.9153209401757,
      "price_pnl_quote_units": 34866.203387823334,
      "turnover_quote_units": 442805.444634335,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 22790.921800587133,
      "return_pct": 127.90921800587131,
      "cagr_pct": 10.408087646113662,
      "max_drawdown_pct": 94.404715622324,
      "mean_exposure_while_solvent": 1.500057435215913,
      "realized_annual_volatility_pct": 98.4744094924916,
      "trading_costs_quote_units": 2043.3312982390687,
      "borrowing_costs_quote_units": 2896.0844838554594,
      "price_pnl_quote_units": 17730.33758268187,
      "turnover_quote_units": 681110.4327463554,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 44514.03506355835,
      "return_pct": 345.14035063558356,
      "cagr_pct": 19.65904807030145,
      "max_drawdown_pct": 76.21991370968267,
      "mean_exposure_while_solvent": 0.8353956327937785,
      "realized_annual_volatility_pct": 53.24525265845549,
      "trading_costs_quote_units": 4164.0162313711535,
      "borrowing_costs_quote_units": 1175.5224462067008,
      "price_pnl_quote_units": 39853.57374113638,
      "turnover_quote_units": 1388005.4104570514,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 54451.09289539321,
      "return_pct": 444.5109289539321,
      "cagr_pct": 22.592440366379613,
      "max_drawdown_pct": 81.82499816215834,
      "mean_exposure_while_solvent": 1.1108213381402285,
      "realized_annual_volatility_pct": 66.0852682610644,
      "trading_costs_quote_units": 5096.913494937456,
      "borrowing_costs_quote_units": 5820.1675043631585,
      "price_pnl_quote_units": 55368.173894693544,
      "turnover_quote_units": 1698971.1649791475,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 41475.417216016875,
      "return_pct": 314.7541721601687,
      "cagr_pct": 18.64647445866118,
      "max_drawdown_pct": 89.56424776294536,
      "mean_exposure_while_solvent": 1.2776232353839931,
      "realized_annual_volatility_pct": 75.72066857683298,
      "trading_costs_quote_units": 3947.5472197874096,
      "borrowing_costs_quote_units": 7641.397550592989,
      "price_pnl_quote_units": 43064.361986397096,
      "turnover_quote_units": 1315849.0732624694,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 44596.25761440184,
      "return_pct": 345.9625761440184,
      "cagr_pct": 19.685592307360917,
      "max_drawdown_pct": 82.22956725101432,
      "mean_exposure_while_solvent": 1.1239816950556478,
      "realized_annual_volatility_pct": 64.43287068726904,
      "trading_costs_quote_units": 7612.3056372561905,
      "borrowing_costs_quote_units": 5567.085164501409,
      "price_pnl_quote_units": 47775.64841615885,
      "turnover_quote_units": 2537435.21241873,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2792,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 62873.71763183639,
      "return_pct": 528.7371763183639,
      "cagr_pct": 24.73011489169975,
      "max_drawdown_pct": 82.58291516977224,
      "mean_exposure_while_solvent": 1.1159640883219029,
      "realized_annual_volatility_pct": 68.32859348204813,
      "trading_costs_quote_units": 3599.346144857608,
      "borrowing_costs_quote_units": 6674.514167246332,
      "price_pnl_quote_units": 63147.577943940334,
      "turnover_quote_units": 1199782.048285871,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2088,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 45088.29673503034,
      "return_pct": 350.8829673503033,
      "cagr_pct": 19.843545339663525,
      "max_drawdown_pct": 79.9578728748491,
      "mean_exposure_while_solvent": 0.9408863001244111,
      "realized_annual_volatility_pct": 59.473309013575026,
      "trading_costs_quote_units": 1009.8144179713598,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36098.11115300193,
      "turnover_quote_units": 336604.80599045294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 904,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 50070.166628890154,
      "return_pct": 400.7016662889016,
      "cagr_pct": 21.36272243948397,
      "max_drawdown_pct": 69.70341899260823,
      "mean_exposure_while_solvent": 0.7500031169154988,
      "realized_annual_volatility_pct": 48.61195323343561,
      "trading_costs_quote_units": 946.0383900778738,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41016.2050189679,
      "turnover_quote_units": 315346.1300259576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 56844.44417358631,
      "return_pct": 468.44444173586305,
      "cagr_pct": 23.22791155741672,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9999450549450549,
      "realized_annual_volatility_pct": 65.01186488173273,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 46874.354442779106,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 37162.309176444134,
      "return_pct": 271.6230917644413,
      "cagr_pct": 17.090863959092356,
      "max_drawdown_pct": 89.6188923781211,
      "mean_exposure_while_solvent": 1.2499685445491615,
      "realized_annual_volatility_pct": 81.60439595981701,
      "trading_costs_quote_units": 1245.7643556115868,
      "borrowing_costs_quote_units": 4276.893410648987,
      "price_pnl_quote_units": 32684.96694270459,
      "turnover_quote_units": 415254.78520386206,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 18505.976878262554,
      "return_pct": 85.05976878262554,
      "cagr_pct": 7.678585373667868,
      "max_drawdown_pct": 94.53592119177952,
      "mean_exposure_while_solvent": 1.5001006502345406,
      "realized_annual_volatility_pct": 98.47881854914287,
      "trading_costs_quote_units": 1804.972604558659,
      "borrowing_costs_quote_units": 5026.021552896743,
      "price_pnl_quote_units": 15336.971035718057,
      "turnover_quote_units": 601657.5348528852,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 43138.44927470801,
      "return_pct": 331.3844927470801,
      "cagr_pct": 19.20843998611797,
      "max_drawdown_pct": 76.22853449867509,
      "mean_exposure_while_solvent": 0.8354012961844487,
      "realized_annual_volatility_pct": 53.245425460424165,
      "trading_costs_quote_units": 4101.396978260356,
      "borrowing_costs_quote_units": 2301.675516089662,
      "price_pnl_quote_units": 39541.521769058156,
      "turnover_quote_units": 1367132.3260867847,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 47284.82586560611,
      "return_pct": 372.84825865606103,
      "cagr_pct": 20.53068225247858,
      "max_drawdown_pct": 81.95298297549213,
      "mean_exposure_while_solvent": 1.1108487606741373,
      "realized_annual_volatility_pct": 66.08661602263632,
      "trading_costs_quote_units": 4718.0805529250265,
      "borrowing_costs_quote_units": 10545.81399648485,
      "price_pnl_quote_units": 52548.72041501623,
      "turnover_quote_units": 1572693.517641678,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 32365.017748780858,
      "return_pct": 223.65017748780858,
      "cagr_pct": 15.161717948779865,
      "max_drawdown_pct": 89.85449181867268,
      "mean_exposure_while_solvent": 1.277672897587317,
      "realized_annual_volatility_pct": 75.72416514819336,
      "trading_costs_quote_units": 3472.8914278371158,
      "borrowing_costs_quote_units": 12908.756710073509,
      "price_pnl_quote_units": 38746.66588669127,
      "turnover_quote_units": 1157630.475945704,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2524,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 37708.82025146614,
      "return_pct": 277.0882025146614,
      "cagr_pct": 17.29650497075203,
      "max_drawdown_pct": 82.41657340320188,
      "mean_exposure_while_solvent": 1.1240148400452825,
      "realized_annual_volatility_pct": 64.43504645386301,
      "trading_costs_quote_units": 6963.911105884645,
      "borrowing_costs_quote_units": 9911.649780915703,
      "price_pnl_quote_units": 44584.38113826672,
      "turnover_quote_units": 2321303.7019615476,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2792,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 55657.79054443572,
      "return_pct": 456.57790544435716,
      "cagr_pct": 22.915842392061034,
      "max_drawdown_pct": 82.61164907745233,
      "mean_exposure_while_solvent": 1.1159875164824604,
      "realized_annual_volatility_pct": 68.32964657964423,
      "trading_costs_quote_units": 3354.807677902364,
      "borrowing_costs_quote_units": 12277.384570620292,
      "price_pnl_quote_units": 61289.982792958835,
      "turnover_quote_units": 1118269.2259674557,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2088,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 45088.29673503034,
      "return_pct": 350.8829673503033,
      "cagr_pct": 19.843545339663525,
      "max_drawdown_pct": 79.9578728748491,
      "mean_exposure_while_solvent": 0.9408863001244111,
      "realized_annual_volatility_pct": 59.473309013575026,
      "trading_costs_quote_units": 1009.8144179713598,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36098.11115300193,
      "turnover_quote_units": 336604.80599045294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 904,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 50070.166628890154,
      "return_pct": 400.7016662889016,
      "cagr_pct": 21.36272243948397,
      "max_drawdown_pct": 69.70341899260823,
      "mean_exposure_while_solvent": 0.7500031169154988,
      "realized_annual_volatility_pct": 48.61195323343561,
      "trading_costs_quote_units": 946.0383900778738,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41016.2050189679,
      "turnover_quote_units": 315346.1300259576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 56844.44417358631,
      "return_pct": 468.44444173586305,
      "cagr_pct": 23.22791155741672,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9999450549450549,
      "realized_annual_volatility_pct": 65.01186488173273,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 46874.354442779106,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 30178.097992084095,
      "return_pct": 201.78097992084093,
      "cagr_pct": 14.197384586379364,
      "max_drawdown_pct": 89.86170178801109,
      "mean_exposure_while_solvent": 1.2500045338397154,
      "realized_annual_volatility_pct": 81.6079734339615,
      "trading_costs_quote_units": 1098.4400952492738,
      "borrowing_costs_quote_units": 7408.754438385092,
      "price_pnl_quote_units": 28685.292525718385,
      "turnover_quote_units": 366146.69841642433,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12199.835700340169,
      "return_pct": 21.998357003401694,
      "cagr_pct": 2.4186963960006516,
      "max_drawdown_pct": 94.78925506659587,
      "mean_exposure_while_solvent": 1.5001870994408018,
      "realized_annual_volatility_pct": 98.48763965265015,
      "trading_costs_quote_units": 1423.225934295634,
      "borrowing_costs_quote_units": 7631.860210512017,
      "price_pnl_quote_units": 11254.921845147825,
      "turnover_quote_units": 474408.6447652126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3025,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 42399.69241065471,
      "return_pct": 323.9969241065471,
      "cagr_pct": 18.961198070272097,
      "max_drawdown_pct": 76.58477258693628,
      "mean_exposure_while_solvent": 0.83525154864531,
      "realized_annual_volatility_pct": 53.2907530108554,
      "trading_costs_quote_units": 3884.368859738367,
      "borrowing_costs_quote_units": 552.7523701471096,
      "price_pnl_quote_units": 36836.813640540044,
      "turnover_quote_units": 1294789.6199127901,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 55629.78718352142,
      "return_pct": 456.29787183521415,
      "cagr_pct": 22.908407553499295,
      "max_drawdown_pct": 81.65865484407433,
      "mean_exposure_while_solvent": 1.1105573381746336,
      "realized_annual_volatility_pct": 66.1559615287846,
      "trading_costs_quote_units": 4958.727084991851,
      "borrowing_costs_quote_units": 2885.706485452112,
      "price_pnl_quote_units": 53474.220753965375,
      "turnover_quote_units": 1652909.0283306176,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 43444.67808482398,
      "return_pct": 334.4467808482398,
      "cagr_pct": 19.309835693006537,
      "max_drawdown_pct": 89.44724082675333,
      "mean_exposure_while_solvent": 1.2773974293841839,
      "realized_annual_volatility_pct": 75.79629218089417,
      "trading_costs_quote_units": 3862.635157112089,
      "borrowing_costs_quote_units": 3844.4837987031738,
      "price_pnl_quote_units": 41151.79704063906,
      "turnover_quote_units": 1287545.0523707,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 51273.74804951086,
      "return_pct": 412.73748049510857,
      "cagr_pct": 21.709712454644226,
      "max_drawdown_pct": 82.52884923776058,
      "mean_exposure_while_solvent": 1.1237153658745977,
      "realized_annual_volatility_pct": 64.58803844001689,
      "trading_costs_quote_units": 8311.763684080182,
      "borrowing_costs_quote_units": 3102.265568243287,
      "price_pnl_quote_units": 52687.777301834656,
      "turnover_quote_units": 2770587.8946933905,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2800,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 65905.95344832026,
      "return_pct": 559.0595344832026,
      "cagr_pct": 25.438240821350494,
      "max_drawdown_pct": 82.52710142961044,
      "mean_exposure_while_solvent": 1.115820474188337,
      "realized_annual_volatility_pct": 68.31706436024973,
      "trading_costs_quote_units": 3581.667480001075,
      "borrowing_costs_quote_units": 3402.1417274425216,
      "price_pnl_quote_units": 62889.762655763574,
      "turnover_quote_units": 1193889.1600003606,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2095,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 41210.61050304898,
      "return_pct": 312.1061050304898,
      "cagr_pct": 18.55516844951144,
      "max_drawdown_pct": 80.16483358999702,
      "mean_exposure_while_solvent": 0.9407902616249043,
      "realized_annual_volatility_pct": 59.49830105555836,
      "trading_costs_quote_units": 931.3788418180045,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 32141.989344866724,
      "turnover_quote_units": 310459.61393933505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 910,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 50310.269211095205,
      "return_pct": 403.1026921109521,
      "cagr_pct": 21.43252511907908,
      "max_drawdown_pct": 69.91098866648396,
      "mean_exposure_while_solvent": 0.749919930201618,
      "realized_annual_volatility_pct": 48.664423044022534,
      "trading_costs_quote_units": 939.2399785089025,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41249.50918960402,
      "turnover_quote_units": 313079.99283630116,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 58231.97727719687,
      "return_pct": 482.31977277196864,
      "cagr_pct": 23.58562071562755,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9998351648351648,
      "realized_annual_volatility_pct": 65.00546383159865,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 48261.88754638938,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 43781.74602180428,
      "return_pct": 337.81746021804287,
      "cagr_pct": 19.420718153233555,
      "max_drawdown_pct": 89.34282074781817,
      "mean_exposure_while_solvent": 1.249822631899243,
      "realized_annual_volatility_pct": 81.45570847768144,
      "trading_costs_quote_units": 1402.4470195742924,
      "borrowing_costs_quote_units": 2442.645601079371,
      "price_pnl_quote_units": 37626.83864245831,
      "turnover_quote_units": 467482.33985809836,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25518.40116882047,
      "return_pct": 155.1840116882047,
      "cagr_pct": 11.918377961286302,
      "max_drawdown_pct": 94.19499615179836,
      "mean_exposure_while_solvent": 1.4999228613727513,
      "realized_annual_volatility_pct": 98.04386770076945,
      "trading_costs_quote_units": 2284.7638441366635,
      "borrowing_costs_quote_units": 3245.3108718801177,
      "price_pnl_quote_units": 21048.47588483749,
      "turnover_quote_units": 761587.9480455534,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 41739.78359807868,
      "return_pct": 317.3978359807868,
      "cagr_pct": 18.737118454849117,
      "max_drawdown_pct": 76.58901446729574,
      "mean_exposure_while_solvent": 0.8352543777938257,
      "realized_annual_volatility_pct": 53.29078809413023,
      "trading_costs_quote_units": 3854.901330490302,
      "borrowing_costs_quote_units": 1093.7967634746697,
      "price_pnl_quote_units": 36688.48169204364,
      "turnover_quote_units": 1284967.1101634323,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 51843.428107805616,
      "return_pct": 418.4342810780562,
      "cagr_pct": 21.871457660049064,
      "max_drawdown_pct": 81.72294586961864,
      "mean_exposure_while_solvent": 1.1105710093218029,
      "realized_annual_volatility_pct": 66.1564126899959,
      "trading_costs_quote_units": 4767.511452790341,
      "borrowing_costs_quote_units": 5491.371265692531,
      "price_pnl_quote_units": 52102.310826288725,
      "turnover_quote_units": 1589170.4842634501,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 38379.705828650665,
      "return_pct": 283.7970582865066,
      "cagr_pct": 17.545390299052617,
      "max_drawdown_pct": 89.59503936213262,
      "mean_exposure_while_solvent": 1.277422176249827,
      "realized_annual_volatility_pct": 75.79769731123716,
      "trading_costs_quote_units": 3615.778799295918,
      "borrowing_costs_quote_units": 7057.468629289242,
      "price_pnl_quote_units": 39052.95325723556,
      "turnover_quote_units": 1205259.5997653063,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 47150.77890268677,
      "return_pct": 371.50778902686767,
      "cagr_pct": 20.489561754533746,
      "max_drawdown_pct": 82.62096152114792,
      "mean_exposure_while_solvent": 1.123731815987395,
      "realized_annual_volatility_pct": 64.58891267467504,
      "trading_costs_quote_units": 7941.514867475088,
      "borrowing_costs_quote_units": 5849.4501609815825,
      "price_pnl_quote_units": 50941.743931143625,
      "turnover_quote_units": 2647171.6224916996,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2800,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 62010.66097775962,
      "return_pct": 520.1066097775962,
      "cagr_pct": 24.52307117100091,
      "max_drawdown_pct": 82.54151355930736,
      "mean_exposure_while_solvent": 1.1158321721102775,
      "realized_annual_volatility_pct": 68.31741744834837,
      "trading_costs_quote_units": 3456.006941186046,
      "borrowing_costs_quote_units": 6523.478290836211,
      "price_pnl_quote_units": 61990.14620978206,
      "turnover_quote_units": 1152002.313728681,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2095,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 41210.61050304898,
      "return_pct": 312.1061050304898,
      "cagr_pct": 18.55516844951144,
      "max_drawdown_pct": 80.16483358999702,
      "mean_exposure_while_solvent": 0.9407902616249043,
      "realized_annual_volatility_pct": 59.49830105555836,
      "trading_costs_quote_units": 931.3788418180045,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 32141.989344866724,
      "turnover_quote_units": 310459.61393933505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 910,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 50310.269211095205,
      "return_pct": 403.1026921109521,
      "cagr_pct": 21.43252511907908,
      "max_drawdown_pct": 69.91098866648396,
      "mean_exposure_while_solvent": 0.749919930201618,
      "realized_annual_volatility_pct": 48.664423044022534,
      "trading_costs_quote_units": 939.2399785089025,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41249.50918960402,
      "turnover_quote_units": 313079.99283630116,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 58231.97727719687,
      "return_pct": 482.31977277196864,
      "cagr_pct": 23.58562071562755,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9998351648351648,
      "realized_annual_volatility_pct": 65.00546383159865,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 48261.88754638938,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 39455.392757947964,
      "return_pct": 294.55392757947965,
      "cagr_pct": 17.936572110265654,
      "max_drawdown_pct": 89.4681125271575,
      "mean_exposure_while_solvent": 1.249840506061647,
      "realized_annual_volatility_pct": 81.45727208260134,
      "trading_costs_quote_units": 1315.122360440119,
      "borrowing_costs_quote_units": 4542.385312260781,
      "price_pnl_quote_units": 35312.900430648595,
      "turnover_quote_units": 438374.120146707,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20721.534617614074,
      "return_pct": 107.21534617614074,
      "cagr_pct": 9.152092129987496,
      "max_drawdown_pct": 94.33103646971955,
      "mean_exposure_while_solvent": 1.499965793741659,
      "realized_annual_volatility_pct": 98.04767062960569,
      "trading_costs_quote_units": 2018.0963645904487,
      "borrowing_costs_quote_units": 5632.139767819163,
      "price_pnl_quote_units": 18371.770750023465,
      "turnover_quote_units": 672698.788196815,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 40450.31676030461,
      "return_pct": 304.50316760304605,
      "cagr_pct": 18.29011859680241,
      "max_drawdown_pct": 76.59749768168828,
      "mean_exposure_while_solvent": 0.8352600370719214,
      "realized_annual_volatility_pct": 53.290864929176784,
      "trading_costs_quote_units": 3796.918083469031,
      "borrowing_costs_quote_units": 2141.574234411476,
      "price_pnl_quote_units": 36388.80907818541,
      "turnover_quote_units": 1265639.3611563442,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 45024.444269148,
      "return_pct": 350.24444269148,
      "cagr_pct": 19.823133481306357,
      "max_drawdown_pct": 81.85089555576899,
      "mean_exposure_while_solvent": 1.110598357022003,
      "realized_annual_volatility_pct": 66.1573365011653,
      "trading_costs_quote_units": 4412.566486524825,
      "borrowing_costs_quote_units": 9949.30163397493,
      "price_pnl_quote_units": 49386.31238964765,
      "turnover_quote_units": 1470855.495508278,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29950.165302363326,
      "return_pct": 199.50165302363328,
      "cagr_pct": 14.093368222316787,
      "max_drawdown_pct": 89.88453623127704,
      "mean_exposure_while_solvent": 1.2774716802479966,
      "realized_annual_volatility_pct": 75.80052949530652,
      "trading_costs_quote_units": 3180.7147982121933,
      "borrowing_costs_quote_units": 11921.621619220366,
      "price_pnl_quote_units": 35052.501719795946,
      "turnover_quote_units": 1060238.266070731,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2531,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 39870.77839668075,
      "return_pct": 298.7077839668075,
      "cagr_pct": 18.085122626183164,
      "max_drawdown_pct": 82.80378802025689,
      "mean_exposure_while_solvent": 1.1237647228646948,
      "realized_annual_volatility_pct": 64.59068589315581,
      "trading_costs_quote_units": 7262.1744143035285,
      "borrowing_costs_quote_units": 10408.57583180205,
      "price_pnl_quote_units": 47541.52864278631,
      "turnover_quote_units": 2420724.8047678424,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2800,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 54895.20455873557,
      "return_pct": 448.95204558735566,
      "cagr_pct": 22.712191474799127,
      "max_drawdown_pct": 82.57030835743443,
      "mean_exposure_while_solvent": 1.1158555724970405,
      "realized_annual_volatility_pct": 68.31814211356246,
      "trading_costs_quote_units": 3220.7385530263336,
      "borrowing_costs_quote_units": 11997.905640573275,
      "price_pnl_quote_units": 60113.84875233506,
      "turnover_quote_units": 1073579.5176754447,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2095,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 41210.61050304898,
      "return_pct": 312.1061050304898,
      "cagr_pct": 18.55516844951144,
      "max_drawdown_pct": 80.16483358999702,
      "mean_exposure_while_solvent": 0.9407902616249043,
      "realized_annual_volatility_pct": 59.49830105555836,
      "trading_costs_quote_units": 931.3788418180045,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 32141.989344866724,
      "turnover_quote_units": 310459.61393933505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 910,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 50310.269211095205,
      "return_pct": 403.1026921109521,
      "cagr_pct": 21.43252511907908,
      "max_drawdown_pct": 69.91098866648396,
      "mean_exposure_while_solvent": 0.749919930201618,
      "realized_annual_volatility_pct": 48.664423044022534,
      "trading_costs_quote_units": 939.2399785089025,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 41249.50918960402,
      "turnover_quote_units": 313079.99283630116,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 58231.97727719687,
      "return_pct": 482.31977277196864,
      "cagr_pct": 23.58562071562755,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9998351648351648,
      "realized_annual_volatility_pct": 65.00546383159865,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 48261.88754638938,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 32041.314561122723,
      "return_pct": 220.41314561122724,
      "cagr_pct": 15.02266467781335,
      "max_drawdown_pct": 89.71434974788542,
      "mean_exposure_while_solvent": 1.2498762599444988,
      "realized_annual_volatility_pct": 81.46040002268134,
      "trading_costs_quote_units": 1159.4142951608264,
      "borrowing_costs_quote_units": 7868.873638395674,
      "price_pnl_quote_units": 31069.602494679166,
      "turnover_quote_units": 386471.43172027566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13661.65069641969,
      "return_pct": 36.616506964196915,
      "cagr_pct": 3.8213542782096197,
      "max_drawdown_pct": 94.59369953956958,
      "mean_exposure_while_solvent": 1.5000516772899832,
      "realized_annual_volatility_pct": 98.05527899970242,
      "trading_costs_quote_units": 1590.4374255134428,
      "borrowing_costs_quote_units": 8551.637092023833,
      "price_pnl_quote_units": 13803.725213956697,
      "turnover_quote_units": 530145.80850448,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 3034,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 19
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 36434.65794466087,
      "return_pct": 264.34657944660864,
      "cagr_pct": 38.16393380800595,
      "max_drawdown_pct": 66.74064762109248,
      "mean_exposure_while_solvent": 0.6600571891135173,
      "realized_annual_volatility_pct": 43.745345675205705,
      "trading_costs_quote_units": 643.4604070416609,
      "borrowing_costs_quote_units": 108.48059278427048,
      "price_pnl_quote_units": 27186.598944486745,
      "turnover_quote_units": 1072434.0117360991,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 37531.13991150161,
      "return_pct": 275.3113991150161,
      "cagr_pct": 39.19201499953125,
      "max_drawdown_pct": 81.52124381467671,
      "mean_exposure_while_solvent": 0.9613950787443934,
      "realized_annual_volatility_pct": 64.18737854074128,
      "trading_costs_quote_units": 1094.5194142534958,
      "borrowing_costs_quote_units": 713.4100561334243,
      "price_pnl_quote_units": 29339.069381888767,
      "turnover_quote_units": 1824199.0237558258,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 31470.55969665218,
      "return_pct": 214.70559696652182,
      "cagr_pct": 33.195734842903754,
      "max_drawdown_pct": 89.1736526331106,
      "mean_exposure_while_solvent": 1.2071355978696479,
      "realized_annual_volatility_pct": 82.74718360626926,
      "trading_costs_quote_units": 1514.7127968143072,
      "borrowing_costs_quote_units": 3048.021971622801,
      "price_pnl_quote_units": 26033.294465090235,
      "turnover_quote_units": 2524521.3280238393,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 29182.162446089802,
      "return_pct": 191.82162446089802,
      "cagr_pct": 30.70513018406303,
      "max_drawdown_pct": 81.631119617246,
      "mean_exposure_while_solvent": 1.0023422116952077,
      "realized_annual_volatility_pct": 65.35774065708371,
      "trading_costs_quote_units": 1648.3860426616532,
      "borrowing_costs_quote_units": 895.2532016911213,
      "price_pnl_quote_units": 21725.801690442928,
      "turnover_quote_units": 2747310.071102752,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 40890.211974450576,
      "return_pct": 308.90211974450574,
      "cagr_pct": 42.20742920679804,
      "max_drawdown_pct": 78.10924023781513,
      "mean_exposure_while_solvent": 0.9298013864259772,
      "realized_annual_volatility_pct": 63.6707380951958,
      "trading_costs_quote_units": 581.4672544882058,
      "borrowing_costs_quote_units": 471.86065165378454,
      "price_pnl_quote_units": 31943.539880592016,
      "turnover_quote_units": 969112.0908136739,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 32892.654794277165,
      "return_pct": 228.92654794277166,
      "cagr_pct": 34.67577418310662,
      "max_drawdown_pct": 77.23462005993005,
      "mean_exposure_while_solvent": 0.8649945232716407,
      "realized_annual_volatility_pct": 58.80861238011036,
      "trading_costs_quote_units": 494.46012846278535,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23387.114922739816,
      "turnover_quote_units": 824100.2141046433,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 905,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 37340.30355697028,
      "return_pct": 273.40303556970275,
      "cagr_pct": 39.01471735033737,
      "max_drawdown_pct": 65.44236877425769,
      "mean_exposure_while_solvent": 0.7499855831207652,
      "realized_annual_volatility_pct": 53.72992964716457,
      "trading_costs_quote_units": 195.87024815386968,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27536.173805124217,
      "turnover_quote_units": 326450.41358978313,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 44626.79464751327,
      "return_pct": 346.2679464751327,
      "cagr_pct": 45.35080846299371,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9998859228838695,
      "realized_annual_volatility_pct": 71.92300713712794,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34632.79104967181,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 43786.154130465,
      "return_pct": 337.86154130465,
      "cagr_pct": 44.66134308571727,
      "max_drawdown_pct": 85.46469506562701,
      "mean_exposure_while_solvent": 1.2498506023096854,
      "realized_annual_volatility_pct": 90.39256014451523,
      "trading_costs_quote_units": 638.7078218073787,
      "borrowing_costs_quote_units": 4173.4900328849935,
      "price_pnl_quote_units": 38598.35198515739,
      "turnover_quote_units": 1064513.0363456332,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 37271.902611188256,
      "return_pct": 272.71902611188256,
      "cagr_pct": 38.95100360499975,
      "max_drawdown_pct": 91.59854970742904,
      "mean_exposure_while_solvent": 1.499931402796653,
      "realized_annual_volatility_pct": 109.2876685468692,
      "trading_costs_quote_units": 1870.978458572279,
      "borrowing_costs_quote_units": 10147.517034827339,
      "price_pnl_quote_units": 39290.39810458717,
      "turnover_quote_units": 3118297.430953795,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36297.16902150873,
      "return_pct": 262.9716902150873,
      "cagr_pct": 38.03339106889204,
      "max_drawdown_pct": 66.75542076800826,
      "mean_exposure_while_solvent": 0.6600586328722304,
      "realized_annual_volatility_pct": 43.745107854807245,
      "trading_costs_quote_units": 642.0583403512309,
      "borrowing_costs_quote_units": 216.48532897071735,
      "price_pnl_quote_units": 27155.712690831002,
      "turnover_quote_units": 1070097.2339187183,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36815.89858259582,
      "return_pct": 268.1589858259582,
      "cagr_pct": 38.523991170774266,
      "max_drawdown_pct": 81.58572462814422,
      "mean_exposure_while_solvent": 0.9614025730270308,
      "realized_annual_volatility_pct": 64.18782384257655,
      "trading_costs_quote_units": 1080.7344667070479,
      "borrowing_costs_quote_units": 1409.9356451134693,
      "price_pnl_quote_units": 29306.568694416605,
      "turnover_quote_units": 1801224.1111784095,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 29919.71642870328,
      "return_pct": 199.1971642870328,
      "cagr_pct": 31.523374722539323,
      "max_drawdown_pct": 89.32276074217846,
      "mean_exposure_while_solvent": 1.2071558762930839,
      "realized_annual_volatility_pct": 82.74959937492784,
      "trading_costs_quote_units": 1468.0593112548731,
      "borrowing_costs_quote_units": 5907.466054426754,
      "price_pnl_quote_units": 27295.2417943842,
      "turnover_quote_units": 2446765.5187581326,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 28417.05291730738,
      "return_pct": 184.1705291730738,
      "cagr_pct": 29.83975765908268,
      "max_drawdown_pct": 81.72701565399245,
      "mean_exposure_while_solvent": 1.002352859836216,
      "realized_annual_volatility_pct": 65.35866201987045,
      "trading_costs_quote_units": 1621.3673416194135,
      "borrowing_costs_quote_units": 1761.9616173003553,
      "price_pnl_quote_units": 21800.381876227053,
      "turnover_quote_units": 2702278.9026990263,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 40274.50918229807,
      "return_pct": 302.74509182298067,
      "cagr_pct": 41.66899763600683,
      "max_drawdown_pct": 78.13989897168476,
      "mean_exposure_while_solvent": 0.9298071258752959,
      "realized_annual_volatility_pct": 63.67098673446232,
      "trading_costs_quote_units": 575.1916369015125,
      "borrowing_costs_quote_units": 935.1445311163476,
      "price_pnl_quote_units": 31784.84535031564,
      "turnover_quote_units": 958652.7281691869,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 32892.654794277165,
      "return_pct": 228.92654794277166,
      "cagr_pct": 34.67577418310662,
      "max_drawdown_pct": 77.23462005993005,
      "mean_exposure_while_solvent": 0.8649945232716407,
      "realized_annual_volatility_pct": 58.80861238011036,
      "trading_costs_quote_units": 494.46012846278535,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23387.114922739816,
      "turnover_quote_units": 824100.2141046433,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 905,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 37340.30355697028,
      "return_pct": 273.40303556970275,
      "cagr_pct": 39.01471735033737,
      "max_drawdown_pct": 65.44236877425769,
      "mean_exposure_while_solvent": 0.7499855831207652,
      "realized_annual_volatility_pct": 53.72992964716457,
      "trading_costs_quote_units": 195.87024815386968,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27536.173805124217,
      "turnover_quote_units": 326450.41358978313,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 44626.79464751327,
      "return_pct": 346.2679464751327,
      "cagr_pct": 45.35080846299371,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9998859228838695,
      "realized_annual_volatility_pct": 71.92300713712794,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34632.79104967181,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 41650.482362149865,
      "return_pct": 316.5048236214987,
      "cagr_pct": 42.8639593300957,
      "max_drawdown_pct": 85.65252262033181,
      "mean_exposure_while_solvent": 1.2498684256172874,
      "realized_annual_volatility_pct": 90.39450612587775,
      "trading_costs_quote_units": 619.5734703327055,
      "borrowing_costs_quote_units": 8088.974765045466,
      "price_pnl_quote_units": 40359.03059752725,
      "turnover_quote_units": 1032622.4505545081,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33722.456550701965,
      "return_pct": 237.22456550701966,
      "cagr_pct": 35.51733688275972,
      "max_drawdown_pct": 91.93100286444259,
      "mean_exposure_while_solvent": 1.499974217677009,
      "realized_annual_volatility_pct": 109.29251267270533,
      "trading_costs_quote_units": 1760.74618471232,
      "borrowing_costs_quote_units": 19068.87090722829,
      "price_pnl_quote_units": 44552.073642642914,
      "turnover_quote_units": 2934576.97452053,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 36023.67847413802,
      "return_pct": 260.2367847413802,
      "cagr_pct": 37.77261122415666,
      "max_drawdown_pct": 66.78495399663765,
      "mean_exposure_while_solvent": 0.6600615209022996,
      "realized_annual_volatility_pct": 43.74463663755158,
      "trading_costs_quote_units": 639.2646367242269,
      "borrowing_costs_quote_units": 431.07421242229333,
      "price_pnl_quote_units": 27094.017323284756,
      "turnover_quote_units": 1065441.061207046,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 35425.70253717364,
      "return_pct": 254.2570253717364,
      "cagr_pct": 37.19721191987199,
      "max_drawdown_pct": 81.71404197539495,
      "mean_exposure_while_solvent": 0.9614175643833918,
      "realized_annual_volatility_pct": 64.18872819602142,
      "trading_costs_quote_units": 1053.7349560090295,
      "borrowing_costs_quote_units": 2753.6979052266947,
      "price_pnl_quote_units": 29233.135398409995,
      "turnover_quote_units": 1756224.9266817148,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 27042.816609139692,
      "return_pct": 170.42816609139692,
      "cagr_pct": 28.240529922383402,
      "max_drawdown_pct": 89.61491629188332,
      "mean_exposure_while_solvent": 1.207196441118233,
      "realized_annual_volatility_pct": 82.75444857668833,
      "trading_costs_quote_units": 1379.395866788188,
      "borrowing_costs_quote_units": 11098.92378317069,
      "price_pnl_quote_units": 29521.13625909843,
      "turnover_quote_units": 2298993.111313648,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26946.10464865697,
      "return_pct": 169.4610464865697,
      "cagr_pct": 28.125707592018568,
      "max_drawdown_pct": 81.91735332374093,
      "mean_exposure_while_solvent": 1.0023741602997545,
      "realized_annual_volatility_pct": 65.36052409649955,
      "trading_costs_quote_units": 1568.7872382658807,
      "borrowing_costs_quote_units": 3412.861979043275,
      "price_pnl_quote_units": 21927.753865966388,
      "turnover_quote_units": 2614645.397109803,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 39070.48231172654,
      "return_pct": 290.7048231172654,
      "cagr_pct": 40.59797773832349,
      "max_drawdown_pct": 78.20110014162198,
      "mean_exposure_while_solvent": 0.9298186067955906,
      "realized_annual_volatility_pct": 63.671494233650726,
      "trading_costs_quote_units": 562.8674200175494,
      "borrowing_costs_quote_units": 1836.5302162597832,
      "price_pnl_quote_units": 31469.87994800402,
      "turnover_quote_units": 938112.3666959155,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 32892.654794277165,
      "return_pct": 228.92654794277166,
      "cagr_pct": 34.67577418310662,
      "max_drawdown_pct": 77.23462005993005,
      "mean_exposure_while_solvent": 0.8649945232716407,
      "realized_annual_volatility_pct": 58.80861238011036,
      "trading_costs_quote_units": 494.46012846278535,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23387.114922739816,
      "turnover_quote_units": 824100.2141046433,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 905,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 37340.30355697028,
      "return_pct": 273.40303556970275,
      "cagr_pct": 39.01471735033737,
      "max_drawdown_pct": 65.44236877425769,
      "mean_exposure_while_solvent": 0.7499855831207652,
      "realized_annual_volatility_pct": 53.72992964716457,
      "trading_costs_quote_units": 195.87024815386968,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27536.173805124217,
      "turnover_quote_units": 326450.41358978313,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 44626.79464751327,
      "return_pct": 346.2679464751327,
      "cagr_pct": 45.35080846299371,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9998859228838695,
      "realized_annual_volatility_pct": 71.92300713712794,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34632.79104967181,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 37685.689732159946,
      "return_pct": 276.85689732159943,
      "cagr_pct": 39.335105597403796,
      "max_drawdown_pct": 86.17795079241482,
      "mean_exposure_while_solvent": 1.2499040777261217,
      "realized_annual_volatility_pct": 90.3983989677528,
      "trading_costs_quote_units": 583.2257575031406,
      "borrowing_costs_quote_units": 15197.568887026173,
      "price_pnl_quote_units": 43466.48437669038,
      "turnover_quote_units": 972042.9291719011,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 27603.85665336943,
      "return_pct": 176.03856653369428,
      "cagr_pct": 28.900623610019,
      "max_drawdown_pct": 92.55713445169779,
      "mean_exposure_while_solvent": 1.5000598660423743,
      "realized_annual_volatility_pct": 109.30220411956117,
      "trading_costs_quote_units": 1561.101820557673,
      "borrowing_costs_quote_units": 33703.51576804379,
      "price_pnl_quote_units": 52868.47424197116,
      "turnover_quote_units": 2601836.3675961224,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 36476.42794950944,
      "return_pct": 264.76427949509434,
      "cagr_pct": 38.20352033995745,
      "max_drawdown_pct": 66.71761075746292,
      "mean_exposure_while_solvent": 0.6597628925466847,
      "realized_annual_volatility_pct": 43.96239686813694,
      "trading_costs_quote_units": 657.8781585109173,
      "borrowing_costs_quote_units": 106.59868955962041,
      "price_pnl_quote_units": 27240.90479758006,
      "turnover_quote_units": 1096463.5975181982,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 39111.481847655334,
      "return_pct": 291.11481847655335,
      "cagr_pct": 40.63485239395856,
      "max_drawdown_pct": 81.40734506194919,
      "mean_exposure_while_solvent": 0.9609521962517772,
      "realized_annual_volatility_pct": 64.2575960759482,
      "trading_costs_quote_units": 1124.7966094021374,
      "borrowing_costs_quote_units": 723.5112313812541,
      "price_pnl_quote_units": 30959.789688438243,
      "turnover_quote_units": 1874661.0156702267,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33260.2439152735,
      "return_pct": 232.60243915273503,
      "cagr_pct": 35.050514822078924,
      "max_drawdown_pct": 89.2100162499558,
      "mean_exposure_while_solvent": 1.2065999359277826,
      "realized_annual_volatility_pct": 82.2428168897713,
      "trading_costs_quote_units": 1579.0336889684381,
      "borrowing_costs_quote_units": 3169.701549088401,
      "price_pnl_quote_units": 28008.979153330863,
      "turnover_quote_units": 2631722.814947397,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 29436.80142470929,
      "return_pct": 194.3680142470929,
      "cagr_pct": 30.989362493958723,
      "max_drawdown_pct": 82.03472179538625,
      "mean_exposure_while_solvent": 1.0019170962275468,
      "realized_annual_volatility_pct": 65.54841167852767,
      "trading_costs_quote_units": 1679.917513742899,
      "borrowing_costs_quote_units": 896.5937971766165,
      "price_pnl_quote_units": 22013.312735628788,
      "turnover_quote_units": 2799862.5229048296,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 42491.1125053757,
      "return_pct": 324.91112505375696,
      "cagr_pct": 43.57950315025694,
      "max_drawdown_pct": 77.96388300449169,
      "mean_exposure_while_solvent": 0.929436818649445,
      "realized_annual_volatility_pct": 63.585494078206196,
      "trading_costs_quote_units": 613.2685505531497,
      "borrowing_costs_quote_units": 480.51912412541594,
      "price_pnl_quote_units": 33584.90018005419,
      "turnover_quote_units": 1022114.2509219161,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33442.05006199569,
      "return_pct": 234.4205006199569,
      "cagr_pct": 35.234711020302804,
      "max_drawdown_pct": 77.15760716028329,
      "mean_exposure_while_solvent": 0.8647676934412305,
      "realized_annual_volatility_pct": 58.906430080405705,
      "trading_costs_quote_units": 507.3258870685144,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23949.375949064415,
      "turnover_quote_units": 845543.1451141912,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 905,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 37408.40294218766,
      "return_pct": 274.0840294218766,
      "cagr_pct": 39.07806330583469,
      "max_drawdown_pct": 65.32081466078613,
      "mean_exposure_while_solvent": 0.749871862284021,
      "realized_annual_volatility_pct": 53.82989278764661,
      "trading_costs_quote_units": 197.5716101803001,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27605.974552367643,
      "turnover_quote_units": 329286.016967167,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 44903.84183328282,
      "return_pct": 349.0384183328282,
      "cagr_pct": 45.57589862641942,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9996577686516085,
      "realized_annual_volatility_pct": 71.92226626548374,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34909.83823544141,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 44378.8026468124,
      "return_pct": 343.78802646812403,
      "cagr_pct": 45.14843388062289,
      "max_drawdown_pct": 85.5571908722217,
      "mean_exposure_while_solvent": 1.2494762096736083,
      "realized_annual_volatility_pct": 90.14736821391601,
      "trading_costs_quote_units": 668.3307865995629,
      "borrowing_costs_quote_units": 4256.278675034046,
      "price_pnl_quote_units": 39303.41210844561,
      "turnover_quote_units": 1113884.6443326054,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 38194.88139833398,
      "return_pct": 281.9488139833398,
      "cagr_pct": 39.803450923247716,
      "max_drawdown_pct": 91.74779060711067,
      "mean_exposure_while_solvent": 1.4993778476831163,
      "realized_annual_volatility_pct": 108.54224206653772,
      "trading_costs_quote_units": 2012.497121948711,
      "borrowing_costs_quote_units": 10558.479714830506,
      "price_pnl_quote_units": 40765.85823511273,
      "turnover_quote_units": 3354161.8699145233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 36339.52057034703,
      "return_pct": 263.39520570347025,
      "cagr_pct": 38.07364240723373,
      "max_drawdown_pct": 66.7324405708923,
      "mean_exposure_while_solvent": 0.659764319718253,
      "realized_annual_volatility_pct": 43.9622402802882,
      "trading_costs_quote_units": 656.4480731232437,
      "borrowing_costs_quote_units": 212.73075305612952,
      "price_pnl_quote_units": 27208.69939652608,
      "turnover_quote_units": 1094080.1218720735,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 38367.16692021952,
      "return_pct": 283.6716692021952,
      "cagr_pct": 39.960855655653255,
      "max_drawdown_pct": 81.47179469716191,
      "mean_exposure_while_solvent": 0.9609596590808536,
      "realized_annual_volatility_pct": 64.2579522956012,
      "trading_costs_quote_units": 1110.5987959659187,
      "borrowing_costs_quote_units": 1429.7967914048822,
      "price_pnl_quote_units": 30907.562507590254,
      "turnover_quote_units": 1850997.993276528,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 31622.10614364047,
      "return_pct": 216.2210614364047,
      "cagr_pct": 33.35581534248846,
      "max_drawdown_pct": 89.35869396372381,
      "mean_exposure_while_solvent": 1.2066201722675807,
      "realized_annual_volatility_pct": 82.2448295751127,
      "trading_costs_quote_units": 1530.2178676834837,
      "borrowing_costs_quote_units": 6142.286104199739,
      "price_pnl_quote_units": 29294.61011552394,
      "turnover_quote_units": 2550363.1128058094,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 28665.422695193825,
      "return_pct": 186.65422695193828,
      "cagr_pct": 30.12257008694431,
      "max_drawdown_pct": 82.1284313778874,
      "mean_exposure_while_solvent": 1.0019277169317526,
      "realized_annual_volatility_pct": 65.54929507071166,
      "trading_costs_quote_units": 1652.3317360020596,
      "borrowing_costs_quote_units": 1764.4694034312706,
      "price_pnl_quote_units": 22082.223834627664,
      "turnover_quote_units": 2753886.2266700994,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 41851.898419387595,
      "return_pct": 318.518984193876,
      "cagr_pct": 43.03638433770583,
      "max_drawdown_pct": 77.9946107492295,
      "mean_exposure_while_solvent": 0.9294425410187837,
      "realized_annual_volatility_pct": 63.58569822968888,
      "trading_costs_quote_units": 606.6200273488909,
      "borrowing_costs_quote_units": 952.2656235841981,
      "price_pnl_quote_units": 33410.78407032122,
      "turnover_quote_units": 1011033.3789148157,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 33442.05006199569,
      "return_pct": 234.4205006199569,
      "cagr_pct": 35.234711020302804,
      "max_drawdown_pct": 77.15760716028329,
      "mean_exposure_while_solvent": 0.8647676934412305,
      "realized_annual_volatility_pct": 58.906430080405705,
      "trading_costs_quote_units": 507.3258870685144,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23949.375949064415,
      "turnover_quote_units": 845543.1451141912,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 905,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 37408.40294218766,
      "return_pct": 274.0840294218766,
      "cagr_pct": 39.07806330583469,
      "max_drawdown_pct": 65.32081466078613,
      "mean_exposure_while_solvent": 0.749871862284021,
      "realized_annual_volatility_pct": 53.82989278764661,
      "trading_costs_quote_units": 197.5716101803001,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27605.974552367643,
      "turnover_quote_units": 329286.016967167,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 44903.84183328282,
      "return_pct": 349.0384183328282,
      "cagr_pct": 45.57589862641942,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9996577686516085,
      "realized_annual_volatility_pct": 71.92226626548374,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34909.83823544141,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 42214.717007449915,
      "return_pct": 322.1471700744991,
      "cagr_pct": 43.3454163458657,
      "max_drawdown_pct": 85.74384251644193,
      "mean_exposure_while_solvent": 1.2494940206659801,
      "realized_annual_volatility_pct": 90.14910814472505,
      "trading_costs_quote_units": 648.2152606928862,
      "borrowing_costs_quote_units": 8249.734633122882,
      "price_pnl_quote_units": 41112.666901265504,
      "turnover_quote_units": 1080358.7678214777,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 34558.41396879516,
      "return_pct": 245.58413968795162,
      "cagr_pct": 36.34958221932847,
      "max_drawdown_pct": 92.07439476775735,
      "mean_exposure_while_solvent": 1.4994206262441614,
      "realized_annual_volatility_pct": 108.54647910700972,
      "trading_costs_quote_units": 1893.5079687801763,
      "borrowing_costs_quote_units": 19843.992939231728,
      "price_pnl_quote_units": 46295.91487680641,
      "turnover_quote_units": 3155846.614633625,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 36067.18126375678,
      "return_pct": 260.67181263756777,
      "cagr_pct": 37.81419126600103,
      "max_drawdown_pct": 66.76208702858692,
      "mean_exposure_while_solvent": 0.6597671745651338,
      "realized_annual_volatility_pct": 43.9619315080417,
      "trading_costs_quote_units": 653.5977031858281,
      "borrowing_costs_quote_units": 423.60186329823455,
      "price_pnl_quote_units": 27144.380830240898,
      "turnover_quote_units": 1089329.505309716,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 36920.40367426598,
      "return_pct": 269.2040367426598,
      "cagr_pct": 38.62220097356432,
      "max_drawdown_pct": 81.60005560670022,
      "mean_exposure_while_solvent": 0.9609745875116379,
      "realized_annual_volatility_pct": 64.25867856177855,
      "trading_costs_quote_units": 1082.7948036984335,
      "borrowing_costs_quote_units": 2792.0885509393834,
      "price_pnl_quote_units": 30795.287028904204,
      "turnover_quote_units": 1804658.006164055,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 28583.14744832852,
      "return_pct": 185.83147448328518,
      "cagr_pct": 30.029089595747678,
      "max_drawdown_pct": 89.65000353564406,
      "mean_exposure_while_solvent": 1.2066606528966737,
      "realized_annual_volatility_pct": 82.248872404168,
      "trading_costs_quote_units": 1437.4350173667424,
      "borrowing_costs_quote_units": 11536.224926204462,
      "price_pnl_quote_units": 31556.80739189964,
      "turnover_quote_units": 2395725.0289445706,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 27182.389961532957,
      "return_pct": 171.82389961532957,
      "cagr_pct": 28.405698197869327,
      "max_drawdown_pct": 82.31443074780236,
      "mean_exposure_while_solvent": 1.0019489625054858,
      "realized_annual_volatility_pct": 65.55108108650823,
      "trading_costs_quote_units": 1598.6521867224915,
      "borrowing_costs_quote_units": 3417.213572128276,
      "price_pnl_quote_units": 22198.25572038342,
      "turnover_quote_units": 2664420.3112041536,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 40601.87624772001,
      "return_pct": 306.0187624772,
      "cagr_pct": 41.95604238088557,
      "max_drawdown_pct": 78.05595024482477,
      "mean_exposure_while_solvent": 0.9294539877709569,
      "realized_annual_volatility_pct": 63.58611675134207,
      "trading_costs_quote_units": 593.5632748945782,
      "borrowing_costs_quote_units": 1870.003313274597,
      "price_pnl_quote_units": 33065.44283588917,
      "turnover_quote_units": 989272.1248242962,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33442.05006199569,
      "return_pct": 234.4205006199569,
      "cagr_pct": 35.234711020302804,
      "max_drawdown_pct": 77.15760716028329,
      "mean_exposure_while_solvent": 0.8647676934412305,
      "realized_annual_volatility_pct": 58.906430080405705,
      "trading_costs_quote_units": 507.3258870685144,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23949.375949064415,
      "turnover_quote_units": 845543.1451141912,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 905,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 37408.40294218766,
      "return_pct": 274.0840294218766,
      "cagr_pct": 39.07806330583469,
      "max_drawdown_pct": 65.32081466078613,
      "mean_exposure_while_solvent": 0.749871862284021,
      "realized_annual_volatility_pct": 53.82989278764661,
      "trading_costs_quote_units": 197.5716101803001,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27605.974552367643,
      "turnover_quote_units": 329286.016967167,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 44903.84183328282,
      "return_pct": 349.0384183328282,
      "cagr_pct": 45.57589862641942,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9996577686516085,
      "realized_annual_volatility_pct": 71.92226626548374,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34909.83823544141,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 38197.111908931096,
      "return_pct": 281.97111908931095,
      "cagr_pct": 39.80549217730613,
      "max_drawdown_pct": 86.2756597301531,
      "mean_exposure_while_solvent": 1.2495296481406362,
      "realized_annual_volatility_pct": 90.15258891025299,
      "trading_costs_quote_units": 609.9780135980106,
      "borrowing_costs_quote_units": 15500.720099873692,
      "price_pnl_quote_units": 44307.81002240279,
      "turnover_quote_units": 1016630.022663353,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 28289.582588076046,
      "return_pct": 182.89582588076047,
      "cagr_pct": 29.69388995822044,
      "max_drawdown_pct": 92.68950060274182,
      "mean_exposure_while_solvent": 1.4995062019498346,
      "realized_annual_volatility_pct": 108.55495618608435,
      "trading_costs_quote_units": 1677.8450673177665,
      "borrowing_costs_quote_units": 35083.320681351426,
      "price_pnl_quote_units": 55050.7483367459,
      "turnover_quote_units": 2796408.4455296122,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 34280.4367682869,
      "return_pct": 242.80436768286899,
      "cagr_pct": 36.07453143999975,
      "max_drawdown_pct": 67.18142604094979,
      "mean_exposure_while_solvent": 0.6600571891135173,
      "realized_annual_volatility_pct": 43.73915859529601,
      "trading_costs_quote_units": 3097.4704302346645,
      "borrowing_costs_quote_units": 104.11020137944139,
      "price_pnl_quote_units": 27482.01739990143,
      "turnover_quote_units": 1032490.1434115539,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 34885.86739537085,
      "return_pct": 248.85867395370852,
      "cagr_pct": 36.67146797349458,
      "max_drawdown_pct": 81.822213321991,
      "mean_exposure_while_solvent": 0.9613950787443934,
      "realized_annual_volatility_pct": 64.17999436760248,
      "trading_costs_quote_units": 5225.089498408942,
      "borrowing_costs_quote_units": 681.7926511164558,
      "price_pnl_quote_units": 30792.749544896164,
      "turnover_quote_units": 1741696.4994696472,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 29107.496409550033,
      "return_pct": 191.07496409550032,
      "cagr_pct": 30.621434141996733,
      "max_drawdown_pct": 89.39693064771957,
      "mean_exposure_while_solvent": 1.2071355978696479,
      "realized_annual_volatility_pct": 82.73567990595218,
      "trading_costs_quote_units": 7211.730941324951,
      "borrowing_costs_quote_units": 2899.135880688564,
      "price_pnl_quote_units": 29218.363231563617,
      "turnover_quote_units": 2403910.3137749895,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25581.396069285824,
      "return_pct": 155.81396069285822,
      "cagr_pct": 26.471507571123926,
      "max_drawdown_pct": 82.2052446310441,
      "mean_exposure_while_solvent": 1.0023422116952077,
      "realized_annual_volatility_pct": 65.34808130167387,
      "trading_costs_quote_units": 7602.175937530593,
      "borrowing_costs_quote_units": 826.1220243380229,
      "price_pnl_quote_units": 24009.694031154413,
      "turnover_quote_units": 2534058.6458435343,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 39125.66694684057,
      "return_pct": 291.2566694684057,
      "cagr_pct": 40.64760360889225,
      "max_drawdown_pct": 78.31191966034079,
      "mean_exposure_while_solvent": 0.9298013864259772,
      "realized_annual_volatility_pct": 63.662650935280006,
      "trading_costs_quote_units": 2824.809872865448,
      "borrowing_costs_quote_units": 459.913120359685,
      "price_pnl_quote_units": 32410.389940065106,
      "turnover_quote_units": 941603.2909551519,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 31706.880749876378,
      "return_pct": 217.06880749876376,
      "cagr_pct": 33.44511306344427,
      "max_drawdown_pct": 77.42092712344044,
      "mean_exposure_while_solvent": 0.8649945232716407,
      "realized_annual_volatility_pct": 58.80524154613334,
      "trading_costs_quote_units": 2416.245066091425,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 24123.125815967753,
      "turnover_quote_units": 805415.0220304758,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 905,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 36642.42165486171,
      "return_pct": 266.4242165486171,
      "cagr_pct": 38.3605017429146,
      "max_drawdown_pct": 65.58997961954007,
      "mean_exposure_while_solvent": 0.7499855831207652,
      "realized_annual_volatility_pct": 53.72982720220616,
      "trading_costs_quote_units": 967.6706263345334,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27610.092281196055,
      "turnover_quote_units": 322556.87544484483,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 44520.0106922251,
      "return_pct": 345.20010692225094,
      "cagr_pct": 45.26377077109623,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9998859228838695,
      "realized_annual_volatility_pct": 71.92317106982806,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34549.92096141793,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 42427.35599587186,
      "return_pct": 324.2735599587186,
      "cagr_pct": 43.52560759705999,
      "max_drawdown_pct": 85.56891043417242,
      "mean_exposure_while_solvent": 1.2498506023096854,
      "realized_annual_volatility_pct": 90.39251560732508,
      "trading_costs_quote_units": 3128.365873067684,
      "borrowing_costs_quote_units": 4085.6848899994175,
      "price_pnl_quote_units": 39641.40675893904,
      "turnover_quote_units": 1042788.6243558973,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 34673.293291394875,
      "return_pct": 246.73293291394876,
      "cagr_pct": 36.462767715572994,
      "max_drawdown_pct": 91.83933365125647,
      "mean_exposure_while_solvent": 1.499931402796653,
      "realized_annual_volatility_pct": 109.28696898651526,
      "trading_costs_quote_units": 8935.183228494105,
      "borrowing_costs_quote_units": 9680.075957448484,
      "price_pnl_quote_units": 43288.55247733824,
      "turnover_quote_units": 2978394.409498037,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 34151.2222888744,
      "return_pct": 241.512222888744,
      "cagr_pct": 35.94610749465457,
      "max_drawdown_pct": 67.19599325749981,
      "mean_exposure_while_solvent": 0.6600586328722304,
      "realized_annual_volatility_pct": 43.7389224794304,
      "trading_costs_quote_units": 3090.760660062623,
      "borrowing_costs_quote_units": 207.76764473751905,
      "price_pnl_quote_units": 27449.75059367434,
      "turnover_quote_units": 1030253.5533542087,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 34221.27237774891,
      "return_pct": 242.2127237774891,
      "cagr_pct": 36.015774156111895,
      "max_drawdown_pct": 81.88563982801037,
      "mean_exposure_while_solvent": 0.9614025730270308,
      "realized_annual_volatility_pct": 64.18044483472812,
      "trading_costs_quote_units": 5159.629148765522,
      "borrowing_costs_quote_units": 1347.5792529886837,
      "price_pnl_quote_units": 30728.480779503712,
      "turnover_quote_units": 1719876.3829218394,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27673.35452289542,
      "return_pct": 176.7335452289542,
      "cagr_pct": 28.98168922710349,
      "max_drawdown_pct": 89.54299108330125,
      "mean_exposure_while_solvent": 1.2071558762930839,
      "realized_annual_volatility_pct": 82.73811038859894,
      "trading_costs_quote_units": 6990.739628666537,
      "borrowing_costs_quote_units": 5620.022544765278,
      "price_pnl_quote_units": 30284.11669632735,
      "turnover_quote_units": 2330246.5428888467,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 24910.68730222014,
      "return_pct": 149.10687302220137,
      "cagr_pct": 25.634158001465522,
      "max_drawdown_pct": 82.29815728551596,
      "mean_exposure_while_solvent": 1.002352859836216,
      "realized_annual_volatility_pct": 65.34900910242017,
      "trading_costs_quote_units": 7478.75923735883,
      "borrowing_costs_quote_units": 1626.2802706091543,
      "price_pnl_quote_units": 24015.726810188018,
      "turnover_quote_units": 2492919.745786281,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 38536.95469436179,
      "return_pct": 285.3695469436179,
      "cagr_pct": 40.11546060777038,
      "max_drawdown_pct": 78.34227437977115,
      "mean_exposure_while_solvent": 0.9298071258752959,
      "realized_annual_volatility_pct": 63.6629036230509,
      "trading_costs_quote_units": 2794.4455223651394,
      "borrowing_costs_quote_units": 911.5125686264005,
      "price_pnl_quote_units": 32242.912785353546,
      "turnover_quote_units": 931481.8407883814,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 31706.880749876378,
      "return_pct": 217.06880749876376,
      "cagr_pct": 33.44511306344427,
      "max_drawdown_pct": 77.42092712344044,
      "mean_exposure_while_solvent": 0.8649945232716407,
      "realized_annual_volatility_pct": 58.80524154613334,
      "trading_costs_quote_units": 2416.245066091425,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 24123.125815967753,
      "turnover_quote_units": 805415.0220304758,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 905,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36642.42165486171,
      "return_pct": 266.4242165486171,
      "cagr_pct": 38.3605017429146,
      "max_drawdown_pct": 65.58997961954007,
      "mean_exposure_while_solvent": 0.7499855831207652,
      "realized_annual_volatility_pct": 53.72982720220616,
      "trading_costs_quote_units": 967.6706263345334,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27610.092281196055,
      "turnover_quote_units": 322556.87544484483,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 44520.0106922251,
      "return_pct": 345.20010692225094,
      "cagr_pct": 45.26377077109623,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9998859228838695,
      "realized_annual_volatility_pct": 71.92317106982806,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34549.92096141793,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 40358.007739991925,
      "return_pct": 303.5800773999193,
      "cagr_pct": 41.74237730265665,
      "max_drawdown_pct": 85.78191742380984,
      "mean_exposure_while_solvent": 1.2498684256172874,
      "realized_annual_volatility_pct": 90.39448256328969,
      "trading_costs_quote_units": 3034.8810343796686,
      "borrowing_costs_quote_units": 7919.292834705425,
      "price_pnl_quote_units": 41312.18160907647,
      "turnover_quote_units": 1011627.0114598894,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 31371.244308427442,
      "return_pct": 213.7124430842744,
      "cagr_pct": 33.0905128477866,
      "max_drawdown_pct": 92.16236359570242,
      "mean_exposure_while_solvent": 1.499974217677009,
      "realized_annual_volatility_pct": 109.29186309736927,
      "trading_costs_quote_units": 8411.060234088609,
      "borrowing_costs_quote_units": 18195.27435213414,
      "price_pnl_quote_units": 47977.57889465002,
      "turnover_quote_units": 2803686.744696206,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 33894.179931889215,
      "return_pct": 238.94179931889218,
      "cagr_pct": 35.68955031071082,
      "max_drawdown_pct": 67.22721743230107,
      "mean_exposure_while_solvent": 0.6600615209022996,
      "realized_annual_volatility_pct": 43.73845469841602,
      "trading_costs_quote_units": 3077.3901744037144,
      "borrowing_costs_quote_units": 413.7307543064099,
      "price_pnl_quote_units": 27385.30086060011,
      "turnover_quote_units": 1025796.724801238,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 32929.46322084235,
      "return_pct": 229.2946322084235,
      "cagr_pct": 34.713439810038,
      "max_drawdown_pct": 82.0118591388055,
      "mean_exposure_while_solvent": 0.9614175643833918,
      "realized_annual_volatility_pct": 64.18135940932017,
      "trading_costs_quote_units": 5031.405776725066,
      "borrowing_costs_quote_units": 2632.419577606702,
      "price_pnl_quote_units": 30593.288575174094,
      "turnover_quote_units": 1677135.2589083542,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 25012.81956844714,
      "return_pct": 150.12819568447136,
      "cagr_pct": 25.76274822026508,
      "max_drawdown_pct": 89.82917404941655,
      "mean_exposure_while_solvent": 1.207196441118233,
      "realized_annual_volatility_pct": 82.74298952781524,
      "trading_costs_quote_units": 6570.678648191931,
      "borrowing_costs_quote_units": 10563.099868032896,
      "price_pnl_quote_units": 32146.598084672536,
      "turnover_quote_units": 2190226.2160639795,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 23621.160284363985,
      "return_pct": 136.21160284363984,
      "cagr_pct": 23.975524447871944,
      "max_drawdown_pct": 82.48257322519872,
      "mean_exposure_while_solvent": 1.0023741602997545,
      "realized_annual_volatility_pct": 65.35088445826071,
      "trading_costs_quote_units": 7238.538859234773,
      "borrowing_costs_quote_units": 3151.511320269048,
      "price_pnl_quote_units": 24011.210463867956,
      "turnover_quote_units": 2412846.2864115895,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 37385.63974189772,
      "return_pct": 273.8563974189772,
      "cagr_pct": 39.056898637718696,
      "max_drawdown_pct": 78.40286875795879,
      "mean_exposure_while_solvent": 0.9298186067955906,
      "realized_annual_volatility_pct": 63.66341966659185,
      "trading_costs_quote_units": 2734.810212641747,
      "borrowing_costs_quote_units": 1790.2979091598363,
      "price_pnl_quote_units": 31910.74786369986,
      "turnover_quote_units": 911603.4042139166,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 31706.880749876378,
      "return_pct": 217.06880749876376,
      "cagr_pct": 33.44511306344427,
      "max_drawdown_pct": 77.42092712344044,
      "mean_exposure_while_solvent": 0.8649945232716407,
      "realized_annual_volatility_pct": 58.80524154613334,
      "trading_costs_quote_units": 2416.245066091425,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 24123.125815967753,
      "turnover_quote_units": 805415.0220304758,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 905,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 36642.42165486171,
      "return_pct": 266.4242165486171,
      "cagr_pct": 38.3605017429146,
      "max_drawdown_pct": 65.58997961954007,
      "mean_exposure_while_solvent": 0.7499855831207652,
      "realized_annual_volatility_pct": 53.72982720220616,
      "trading_costs_quote_units": 967.6706263345334,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27610.092281196055,
      "turnover_quote_units": 322556.87544484483,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 44520.0106922251,
      "return_pct": 345.20010692225094,
      "cagr_pct": 45.26377077109623,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9998859228838695,
      "realized_annual_volatility_pct": 71.92317106982806,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34549.92096141793,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 36516.21150744181,
      "return_pct": 265.1621150744181,
      "cagr_pct": 38.241192665947835,
      "max_drawdown_pct": 86.34400445150453,
      "mean_exposure_while_solvent": 1.2499040777261217,
      "realized_annual_volatility_pct": 90.39841753118918,
      "trading_costs_quote_units": 2857.2775839349947,
      "borrowing_costs_quote_units": 14880.64234995333,
      "price_pnl_quote_units": 44254.131441330675,
      "turnover_quote_units": 952425.8613116657,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 25678.921985899873,
      "return_pct": 156.7892198589987,
      "cagr_pct": 26.591888619777055,
      "max_drawdown_pct": 92.77075896734954,
      "mean_exposure_while_solvent": 1.5000598660423743,
      "realized_annual_volatility_pct": 109.30165495747417,
      "trading_costs_quote_units": 7461.524064176654,
      "borrowing_costs_quote_units": 32176.72187022197,
      "price_pnl_quote_units": 55317.1679202996,
      "turnover_quote_units": 2487174.6880588843,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 34257.92149642993,
      "return_pct": 242.5792149642993,
      "cagr_pct": 36.05218006522987,
      "max_drawdown_pct": 67.17083032910726,
      "mean_exposure_while_solvent": 0.6597628925466847,
      "realized_annual_volatility_pct": 43.96479238643266,
      "trading_costs_quote_units": 3162.6581972949166,
      "borrowing_costs_quote_units": 102.18219868918703,
      "price_pnl_quote_units": 27522.761892413804,
      "turnover_quote_units": 1054219.399098304,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 36343.55398730452,
      "return_pct": 263.4355398730452,
      "cagr_pct": 38.077473972150294,
      "max_drawdown_pct": 81.71323681890941,
      "mean_exposure_while_solvent": 0.9609521962517772,
      "realized_annual_volatility_pct": 64.25916045807249,
      "trading_costs_quote_units": 5367.317063758051,
      "borrowing_costs_quote_units": 691.0870916589388,
      "price_pnl_quote_units": 32401.95814272162,
      "turnover_quote_units": 1789105.6879193536,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 30790.301824160517,
      "return_pct": 207.90301824160514,
      "cagr_pct": 32.46996370871751,
      "max_drawdown_pct": 89.43258267551441,
      "mean_exposure_while_solvent": 1.2065999359277826,
      "realized_annual_volatility_pct": 82.24747396398912,
      "trading_costs_quote_units": 7522.101717645806,
      "borrowing_costs_quote_units": 3016.466937309827,
      "price_pnl_quote_units": 31328.87047911641,
      "turnover_quote_units": 2507367.2392152683,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25773.451362946522,
      "return_pct": 157.73451362946523,
      "cagr_pct": 26.708244092131267,
      "max_drawdown_pct": 82.59663119419635,
      "mean_exposure_while_solvent": 1.0019170962275468,
      "realized_annual_volatility_pct": 65.55376134670671,
      "trading_costs_quote_units": 7737.682662245654,
      "borrowing_costs_quote_units": 826.1982831498663,
      "price_pnl_quote_units": 24337.33230834216,
      "turnover_quote_units": 2579227.554081882,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 40630.460506767165,
      "return_pct": 306.3046050676717,
      "cagr_pct": 41.98102337136716,
      "max_drawdown_pct": 78.17315835790825,
      "mean_exposure_while_solvent": 0.929436818649445,
      "realized_annual_volatility_pct": 63.58724608168832,
      "trading_costs_quote_units": 2977.739545549407,
      "borrowing_costs_quote_units": 468.1854268296656,
      "price_pnl_quote_units": 34076.38547914634,
      "turnover_quote_units": 992579.848516468,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 32215.392351799695,
      "return_pct": 222.15392351799696,
      "cagr_pct": 33.97703042371083,
      "max_drawdown_pct": 77.34572994732758,
      "mean_exposure_while_solvent": 0.8647676934412305,
      "realized_annual_volatility_pct": 58.90557930447072,
      "trading_costs_quote_units": 2478.001389431015,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 24693.393741230706,
      "turnover_quote_units": 826000.4631436712,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 905,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 36724.46156114183,
      "return_pct": 267.2446156114183,
      "cagr_pct": 38.43789058942655,
      "max_drawdown_pct": 65.47002531448975,
      "mean_exposure_while_solvent": 0.749871862284021,
      "realized_annual_volatility_pct": 53.831287910973046,
      "trading_costs_quote_units": 976.3895704201618,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27700.85113156202,
      "turnover_quote_units": 325463.1901400537,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 44796.39495352222,
      "return_pct": 347.9639495352222,
      "cagr_pct": 45.48872614801132,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9996577686516085,
      "realized_annual_volatility_pct": 71.92243025868464,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34826.30522271427,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 43031.309266151504,
      "return_pct": 330.31309266151504,
      "cagr_pct": 44.0337331599621,
      "max_drawdown_pct": 85.66173557190695,
      "mean_exposure_while_solvent": 1.2494762096736083,
      "realized_annual_volatility_pct": 90.15059095281156,
      "trading_costs_quote_units": 3275.6070236083497,
      "borrowing_costs_quote_units": 4169.811362111011,
      "price_pnl_quote_units": 40476.72765187103,
      "turnover_quote_units": 1091869.0078694497,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 35591.61308899155,
      "return_pct": 255.9161308899155,
      "cagr_pct": 37.357584119220824,
      "max_drawdown_pct": 91.98457007145396,
      "mean_exposure_while_solvent": 1.4993778476831163,
      "realized_annual_volatility_pct": 108.55096368595679,
      "trading_costs_quote_units": 9627.581360346918,
      "borrowing_costs_quote_units": 10090.970948371621,
      "price_pnl_quote_units": 45310.165397710465,
      "turnover_quote_units": 3209193.786782302,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 34129.43730266899,
      "return_pct": 241.29437302668987,
      "cagr_pct": 35.9244199053941,
      "max_drawdown_pct": 67.18545583302364,
      "mean_exposure_while_solvent": 0.659764319718253,
      "realized_annual_volatility_pct": 43.96463966348645,
      "trading_costs_quote_units": 3155.821309013703,
      "borrowing_costs_quote_units": 203.92090251457805,
      "price_pnl_quote_units": 27489.179514197112,
      "turnover_quote_units": 1051940.4363379015,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 35651.94080993767,
      "return_pct": 256.5194080993767,
      "cagr_pct": 37.41575901219226,
      "max_drawdown_pct": 81.77664795141044,
      "mean_exposure_while_solvent": 0.9609596590808536,
      "realized_annual_volatility_pct": 64.25952520127696,
      "trading_costs_quote_units": 5299.895991197035,
      "borrowing_costs_quote_units": 1365.846882625912,
      "price_pnl_quote_units": 32317.68368376036,
      "turnover_quote_units": 1766631.9970656782,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 29273.807841768292,
      "return_pct": 192.7380784176829,
      "cagr_pct": 30.807639790464155,
      "max_drawdown_pct": 89.57822763909233,
      "mean_exposure_while_solvent": 1.2066201722675807,
      "realized_annual_volatility_pct": 82.24950846934398,
      "trading_costs_quote_units": 7290.642764481456,
      "borrowing_costs_quote_units": 5846.439517984843,
      "price_pnl_quote_units": 32410.890124234855,
      "turnover_quote_units": 2430214.254827155,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 25097.93476818283,
      "return_pct": 150.97934768182827,
      "cagr_pct": 25.869612514126285,
      "max_drawdown_pct": 82.68744893248056,
      "mean_exposure_while_solvent": 1.0019277169317526,
      "realized_annual_volatility_pct": 65.55465779063567,
      "trading_costs_quote_units": 7611.817381387196,
      "borrowing_costs_quote_units": 1626.3100094155625,
      "price_pnl_quote_units": 24336.062158985475,
      "turnover_quote_units": 2537272.4604624026,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 40019.44139228065,
      "return_pct": 300.19441392280646,
      "cagr_pct": 41.44413167087259,
      "max_drawdown_pct": 78.20358389677928,
      "mean_exposure_while_solvent": 0.9294425410187837,
      "realized_annual_volatility_pct": 63.587459261463664,
      "trading_costs_quote_units": 2945.5710550160975,
      "borrowing_costs_quote_units": 927.8666180502294,
      "price_pnl_quote_units": 33892.87906534675,
      "turnover_quote_units": 981857.0183386992,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 32215.392351799695,
      "return_pct": 222.15392351799696,
      "cagr_pct": 33.97703042371083,
      "max_drawdown_pct": 77.34572994732758,
      "mean_exposure_while_solvent": 0.8647676934412305,
      "realized_annual_volatility_pct": 58.90557930447072,
      "trading_costs_quote_units": 2478.001389431015,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 24693.393741230706,
      "turnover_quote_units": 826000.4631436712,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 905,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 36724.46156114183,
      "return_pct": 267.2446156114183,
      "cagr_pct": 38.43789058942655,
      "max_drawdown_pct": 65.47002531448975,
      "mean_exposure_while_solvent": 0.749871862284021,
      "realized_annual_volatility_pct": 53.831287910973046,
      "trading_costs_quote_units": 976.3895704201618,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27700.85113156202,
      "turnover_quote_units": 325463.1901400537,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 44796.39495352222,
      "return_pct": 347.9639495352222,
      "cagr_pct": 45.48872614801132,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9996577686516085,
      "realized_annual_volatility_pct": 71.92243025868464,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34826.30522271427,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 40932.784149702595,
      "return_pct": 309.327841497026,
      "cagr_pct": 42.24443322075946,
      "max_drawdown_pct": 85.88243503515488,
      "mean_exposure_while_solvent": 1.2494940206659801,
      "realized_annual_volatility_pct": 90.15235210151775,
      "trading_costs_quote_units": 3177.2381560026747,
      "borrowing_costs_quote_units": 8082.638711163103,
      "price_pnl_quote_units": 42192.66101686841,
      "turnover_quote_units": 1059079.385334224,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 32202.55645869796,
      "return_pct": 222.0255645869796,
      "cagr_pct": 33.963681462640956,
      "max_drawdown_pct": 92.30196192343833,
      "mean_exposure_while_solvent": 1.4994206262441614,
      "realized_annual_volatility_pct": 108.55525327546702,
      "trading_costs_quote_units": 9060.57176087976,
      "borrowing_costs_quote_units": 18970.273107973346,
      "price_pnl_quote_units": 50233.40132754871,
      "turnover_quote_units": 3020190.5869599194,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33873.85253014292,
      "return_pct": 238.73852530142918,
      "cagr_pct": 35.66919909349803,
      "max_drawdown_pct": 67.2146938568404,
      "mean_exposure_while_solvent": 0.6597671745651338,
      "realized_annual_volatility_pct": 43.964338616127904,
      "trading_costs_quote_units": 3142.194246621851,
      "borrowing_costs_quote_units": 406.0743141518851,
      "price_pnl_quote_units": 27422.12109091675,
      "turnover_quote_units": 1047398.082207283,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 34307.57722278016,
      "return_pct": 243.0757722278016,
      "cagr_pct": 36.10145969908905,
      "max_drawdown_pct": 81.90284700895842,
      "mean_exposure_while_solvent": 0.9609745875116379,
      "realized_annual_volatility_pct": 64.26026851900953,
      "trading_costs_quote_units": 5167.855728909471,
      "borrowing_costs_quote_units": 2667.7030289463287,
      "price_pnl_quote_units": 32143.135980635194,
      "turnover_quote_units": 1722618.57630316,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26460.444118354655,
      "return_pct": 164.60444118354656,
      "cagr_pct": 27.544382594719895,
      "max_drawdown_pct": 89.86359411982842,
      "mean_exposure_while_solvent": 1.2066606528966737,
      "realized_annual_volatility_pct": 82.25359482138683,
      "trading_costs_quote_units": 6850.649419818472,
      "borrowing_costs_quote_units": 10984.720117847888,
      "price_pnl_quote_units": 34295.81365602068,
      "turnover_quote_units": 2283549.806606154,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 23799.14497760862,
      "return_pct": 137.99144977608617,
      "cagr_pct": 24.20843195072019,
      "max_drawdown_pct": 82.86770861729684,
      "mean_exposure_while_solvent": 1.0019489625054858,
      "realized_annual_volatility_pct": 65.55646958198297,
      "trading_costs_quote_units": 7366.854748406871,
      "borrowing_costs_quote_units": 3151.10576997445,
      "price_pnl_quote_units": 24317.105495990065,
      "turnover_quote_units": 2455618.249468952,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 38824.526600761936,
      "return_pct": 288.24526600761936,
      "cagr_pct": 40.37615578361481,
      "max_drawdown_pct": 78.26432016547565,
      "mean_exposure_while_solvent": 0.9294539877709569,
      "realized_annual_volatility_pct": 63.58789586907798,
      "trading_costs_quote_units": 2882.3940851190982,
      "borrowing_costs_quote_units": 1822.2593321095098,
      "price_pnl_quote_units": 33529.18001799037,
      "turnover_quote_units": 960798.0283730321,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 32215.392351799695,
      "return_pct": 222.15392351799696,
      "cagr_pct": 33.97703042371083,
      "max_drawdown_pct": 77.34572994732758,
      "mean_exposure_while_solvent": 0.8647676934412305,
      "realized_annual_volatility_pct": 58.90557930447072,
      "trading_costs_quote_units": 2478.001389431015,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 24693.393741230706,
      "turnover_quote_units": 826000.4631436712,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 905,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 36724.46156114183,
      "return_pct": 267.2446156114183,
      "cagr_pct": 38.43789058942655,
      "max_drawdown_pct": 65.47002531448975,
      "mean_exposure_while_solvent": 0.749871862284021,
      "realized_annual_volatility_pct": 53.831287910973046,
      "trading_costs_quote_units": 976.3895704201618,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27700.85113156202,
      "turnover_quote_units": 325463.1901400537,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 44796.39495352222,
      "return_pct": 347.9639495352222,
      "cagr_pct": 45.48872614801132,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9996577686516085,
      "realized_annual_volatility_pct": 71.92243025868464,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34826.30522271427,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 37036.81201101536,
      "return_pct": 270.36812011015365,
      "cagr_pct": 38.73135183199473,
      "max_drawdown_pct": 86.44067929964582,
      "mean_exposure_while_solvent": 1.2495296481406362,
      "realized_annual_volatility_pct": 90.15587559348906,
      "trading_costs_quote_units": 2990.232457377425,
      "borrowing_costs_quote_units": 15188.6270128697,
      "price_pnl_quote_units": 45215.671481262834,
      "turnover_quote_units": 996744.1524591406,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26360.177735832538,
      "return_pct": 163.60177735832536,
      "cagr_pct": 27.423370957219113,
      "max_drawdown_pct": 92.89970934320773,
      "mean_exposure_while_solvent": 1.4995062019498346,
      "realized_annual_volatility_pct": 108.56383617511189,
      "trading_costs_quote_units": 8032.6066595326465,
      "borrowing_costs_quote_units": 33556.33563613723,
      "price_pnl_quote_units": 57949.120031502076,
      "turnover_quote_units": 2677535.553177545,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1461,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 36631.6095884066,
      "return_pct": 266.31609588406604,
      "cagr_pct": 38.3502929526812,
      "max_drawdown_pct": 66.87484992212522,
      "mean_exposure_while_solvent": 0.7543915874900129,
      "realized_annual_volatility_pct": 55.93016625309537,
      "trading_costs_quote_units": 748.3044704229324,
      "borrowing_costs_quote_units": 72.66513337270557,
      "price_pnl_quote_units": 27452.579192202145,
      "turnover_quote_units": 1247174.117371554,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 40623.598533595425,
      "return_pct": 306.2359853359543,
      "cagr_pct": 41.97502760593832,
      "max_drawdown_pct": 81.45800113270654,
      "mean_exposure_while_solvent": 0.9893633665099577,
      "realized_annual_volatility_pct": 68.26146983242968,
      "trading_costs_quote_units": 1112.1338630945845,
      "borrowing_costs_quote_units": 657.282872567419,
      "price_pnl_quote_units": 32393.015269256804,
      "turnover_quote_units": 1853556.4384909696,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 37946.39791640635,
      "return_pct": 279.4639791640635,
      "cagr_pct": 39.575489153501415,
      "max_drawdown_pct": 89.19350276749907,
      "mean_exposure_while_solvent": 1.1747735676775708,
      "realized_annual_volatility_pct": 79.38134990539439,
      "trading_costs_quote_units": 1632.9090132885444,
      "borrowing_costs_quote_units": 3033.351911187422,
      "price_pnl_quote_units": 32612.658840881602,
      "turnover_quote_units": 2721515.0221475726,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 38279.19320226516,
      "return_pct": 282.7919320226516,
      "cagr_pct": 39.88054685996072,
      "max_drawdown_pct": 81.55635351573906,
      "mean_exposure_while_solvent": 1.0155188395247217,
      "realized_annual_volatility_pct": 66.89437648811698,
      "trading_costs_quote_units": 2005.8505633303039,
      "borrowing_costs_quote_units": 1054.103356654489,
      "price_pnl_quote_units": 31339.147122249728,
      "turnover_quote_units": 3343084.2722171755,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1291,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 47963.509031837406,
      "return_pct": 379.63509031837407,
      "cagr_pct": 47.99503934567236,
      "max_drawdown_pct": 78.51895867148829,
      "mean_exposure_while_solvent": 0.998254459032558,
      "realized_annual_volatility_pct": 70.42017576704934,
      "trading_costs_quote_units": 492.9711563759005,
      "borrowing_costs_quote_units": 366.5839895200454,
      "price_pnl_quote_units": 38823.06417773325,
      "turnover_quote_units": 821618.5939598348,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 747,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 39125.85353865237,
      "return_pct": 291.2585353865237,
      "cagr_pct": 40.6477713161829,
      "max_drawdown_pct": 77.2418292860772,
      "mean_exposure_while_solvent": 0.9097479163673133,
      "realized_annual_volatility_pct": 64.20411187940526,
      "trading_costs_quote_units": 553.8304076984514,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 29679.68394635074,
      "turnover_quote_units": 923050.6794974201,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 630,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 37220.43942314046,
      "return_pct": 272.2043942314046,
      "cagr_pct": 38.903009118409955,
      "max_drawdown_pct": 65.41559217625017,
      "mean_exposure_while_solvent": 0.749966476042854,
      "realized_annual_volatility_pct": 53.22627322337014,
      "trading_costs_quote_units": 193.36164570640003,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27413.80106884687,
      "turnover_quote_units": 322269.40951066633,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 44515.98622363701,
      "return_pct": 345.1598622363701,
      "cagr_pct": 45.260487438547244,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9998856881572931,
      "realized_annual_volatility_pct": 71.27125404697841,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34521.982625795594,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 43699.00032403867,
      "return_pct": 336.9900032403867,
      "cagr_pct": 44.58929606722185,
      "max_drawdown_pct": 85.4327397058566,
      "mean_exposure_while_solvent": 1.249880888075942,
      "realized_annual_volatility_pct": 89.60688229427302,
      "trading_costs_quote_units": 631.5571010487917,
      "borrowing_costs_quote_units": 4159.954547290827,
      "price_pnl_quote_units": 38490.51197237826,
      "turnover_quote_units": 1052595.1684146533,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 37146.763253189536,
      "return_pct": 271.46763253189533,
      "cagr_pct": 38.83421213923807,
      "max_drawdown_pct": 91.57443459350226,
      "mean_exposure_while_solvent": 1.5000036694082852,
      "realized_annual_volatility_pct": 108.39035058371122,
      "trading_costs_quote_units": 1847.144817150552,
      "borrowing_costs_quote_units": 10098.039850632871,
      "price_pnl_quote_units": 39091.947920972074,
      "turnover_quote_units": 3078574.6952509177,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36548.66291769597,
      "return_pct": 265.48662917695964,
      "cagr_pct": 38.27189915851818,
      "max_drawdown_pct": 66.88975565161014,
      "mean_exposure_while_solvent": 0.7543924097984033,
      "realized_annual_volatility_pct": 55.93022017611723,
      "trading_costs_quote_units": 747.6311831950388,
      "borrowing_costs_quote_units": 145.1507141462113,
      "price_pnl_quote_units": 27441.444815037074,
      "turnover_quote_units": 1246051.9719917332,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 39982.60024718175,
      "return_pct": 299.8260024718175,
      "cagr_pct": 41.41156401039197,
      "max_drawdown_pct": 81.5233899033787,
      "mean_exposure_while_solvent": 0.989369586953499,
      "realized_annual_volatility_pct": 68.26195648206456,
      "trading_costs_quote_units": 1101.1908654818953,
      "borrowing_costs_quote_units": 1301.7659144959116,
      "price_pnl_quote_units": 32385.557027159557,
      "turnover_quote_units": 1835318.1091364904,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36415.46791912539,
      "return_pct": 264.1546791912539,
      "cagr_pct": 38.14573550494109,
      "max_drawdown_pct": 89.34476982698388,
      "mean_exposure_while_solvent": 1.1747903656773622,
      "realized_annual_volatility_pct": 79.38293347333772,
      "trading_costs_quote_units": 1594.8859001883782,
      "borrowing_costs_quote_units": 5918.336439203019,
      "price_pnl_quote_units": 33928.69025851675,
      "turnover_quote_units": 2658143.1669806293,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 37339.50916289822,
      "return_pct": 273.3950916289822,
      "cagr_pct": 39.01397789499539,
      "max_drawdown_pct": 81.65361620948613,
      "mean_exposure_while_solvent": 1.0155289743572897,
      "realized_annual_volatility_pct": 66.89520138483638,
      "trading_costs_quote_units": 1975.4864916555061,
      "borrowing_costs_quote_units": 2076.252330006958,
      "price_pnl_quote_units": 31391.247984560447,
      "turnover_quote_units": 3292477.486092507,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1291,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 47513.80618683466,
      "return_pct": 375.13806186834665,
      "cagr_pct": 47.646875229438876,
      "max_drawdown_pct": 78.55025766658656,
      "mean_exposure_while_solvent": 0.9982579635581063,
      "realized_annual_volatility_pct": 70.42032781088417,
      "trading_costs_quote_units": 490.0867263166332,
      "borrowing_costs_quote_units": 729.0353069869924,
      "price_pnl_quote_units": 38732.928220138645,
      "turnover_quote_units": 816811.2105277209,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 747,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 39125.85353865237,
      "return_pct": 291.2585353865237,
      "cagr_pct": 40.6477713161829,
      "max_drawdown_pct": 77.2418292860772,
      "mean_exposure_while_solvent": 0.9097479163673133,
      "realized_annual_volatility_pct": 64.20411187940526,
      "trading_costs_quote_units": 553.8304076984514,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 29679.68394635074,
      "turnover_quote_units": 923050.6794974201,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 630,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 37220.43942314046,
      "return_pct": 272.2043942314046,
      "cagr_pct": 38.903009118409955,
      "max_drawdown_pct": 65.41559217625017,
      "mean_exposure_while_solvent": 0.749966476042854,
      "realized_annual_volatility_pct": 53.22627322337014,
      "trading_costs_quote_units": 193.36164570640003,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27413.80106884687,
      "turnover_quote_units": 322269.40951066633,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 44515.98622363701,
      "return_pct": 345.1598622363701,
      "cagr_pct": 45.260487438547244,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9998856881572931,
      "realized_annual_volatility_pct": 71.27125404697841,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34521.982625795594,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 41567.62716677784,
      "return_pct": 315.67627166777845,
      "cagr_pct": 42.79284843132176,
      "max_drawdown_pct": 85.62097832887285,
      "mean_exposure_while_solvent": 1.2498989417887392,
      "realized_annual_volatility_pct": 89.60883108956992,
      "trading_costs_quote_units": 612.5732996795908,
      "borrowing_costs_quote_units": 8062.811915203054,
      "price_pnl_quote_units": 40243.0123816611,
      "turnover_quote_units": 1020955.4994659851,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33609.28163400806,
      "return_pct": 236.09281634008062,
      "cagr_pct": 35.40347911356637,
      "max_drawdown_pct": 91.90784268433924,
      "mean_exposure_while_solvent": 1.5000470419130054,
      "realized_annual_volatility_pct": 108.3952112834449,
      "trading_costs_quote_units": 1738.049756966442,
      "borrowing_costs_quote_units": 18976.694378294953,
      "price_pnl_quote_units": 44324.02576927069,
      "turnover_quote_units": 2896749.594944071,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 36383.29577558451,
      "return_pct": 263.83295775584514,
      "cagr_pct": 38.115209844537176,
      "max_drawdown_pct": 66.91955368813157,
      "mean_exposure_while_solvent": 0.7543940546779389,
      "realized_annual_volatility_pct": 55.93032976270194,
      "trading_costs_quote_units": 746.2864313993941,
      "borrowing_costs_quote_units": 289.5846590442436,
      "price_pnl_quote_units": 27419.166866028063,
      "turnover_quote_units": 1243810.718998992,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 38730.466377951816,
      "return_pct": 287.30466377951814,
      "cagr_pct": 40.29104635794426,
      "max_drawdown_pct": 81.65350681103878,
      "mean_exposure_while_solvent": 0.9893820301832968,
      "realized_annual_volatility_pct": 68.26294100135736,
      "trading_costs_quote_units": 1079.6572553252029,
      "borrowing_costs_quote_units": 2553.1740561607103,
      "price_pnl_quote_units": 32363.297689437826,
      "turnover_quote_units": 1799428.758875337,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 33535.671097402206,
      "return_pct": 235.35671097402204,
      "cagr_pct": 35.32927002080194,
      "max_drawdown_pct": 89.6410546952667,
      "mean_exposure_while_solvent": 1.1748239685056938,
      "realized_annual_volatility_pct": 79.38611981227177,
      "trading_costs_quote_units": 1521.6993280005845,
      "borrowing_costs_quote_units": 11266.849644315937,
      "price_pnl_quote_units": 36324.220069717645,
      "turnover_quote_units": 2536165.5466676387,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 35528.295862396204,
      "return_pct": 255.28295862396203,
      "cagr_pct": 37.296446808511746,
      "max_drawdown_pct": 81.84665171827102,
      "mean_exposure_while_solvent": 1.0155492481936315,
      "realized_annual_volatility_pct": 66.89686918454275,
      "trading_costs_quote_units": 1916.2678400596462,
      "borrowing_costs_quote_units": 4027.961863024303,
      "price_pnl_quote_units": 31472.525565479813,
      "turnover_quote_units": 3193779.733432744,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1291,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 46626.80406530063,
      "return_pct": 366.26804065300627,
      "cagr_pct": 46.95283990537339,
      "max_drawdown_pct": 78.61273164110311,
      "mean_exposure_while_solvent": 0.9982649738117353,
      "realized_annual_volatility_pct": 70.4206374500439,
      "trading_costs_quote_units": 484.37435553192944,
      "borrowing_costs_quote_units": 1441.700724221221,
      "price_pnl_quote_units": 38552.879145054234,
      "turnover_quote_units": 807290.5925532165,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 747,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 39125.85353865237,
      "return_pct": 291.2585353865237,
      "cagr_pct": 40.6477713161829,
      "max_drawdown_pct": 77.2418292860772,
      "mean_exposure_while_solvent": 0.9097479163673133,
      "realized_annual_volatility_pct": 64.20411187940526,
      "trading_costs_quote_units": 553.8304076984514,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 29679.68394635074,
      "turnover_quote_units": 923050.6794974201,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 630,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 37220.43942314046,
      "return_pct": 272.2043942314046,
      "cagr_pct": 38.903009118409955,
      "max_drawdown_pct": 65.41559217625017,
      "mean_exposure_while_solvent": 0.749966476042854,
      "realized_annual_volatility_pct": 53.22627322337014,
      "trading_costs_quote_units": 193.36164570640003,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27413.80106884687,
      "turnover_quote_units": 322269.40951066633,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 44515.98622363701,
      "return_pct": 345.1598622363701,
      "cagr_pct": 45.260487438547244,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9998856881572931,
      "realized_annual_volatility_pct": 71.27125404697841,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34521.982625795594,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 37610.80457540131,
      "return_pct": 276.10804575401306,
      "cagr_pct": 39.26582793217987,
      "max_drawdown_pct": 86.14346732642451,
      "mean_exposure_while_solvent": 1.249935054951396,
      "realized_annual_volatility_pct": 89.61272949392838,
      "trading_costs_quote_units": 576.5138309063286,
      "borrowing_costs_quote_units": 15148.690045158892,
      "price_pnl_quote_units": 43336.008451465685,
      "turnover_quote_units": 960856.3848438803,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 27511.287359712456,
      "return_pct": 175.11287359712458,
      "cagr_pct": 28.79240832290046,
      "max_drawdown_pct": 92.5357743855931,
      "mean_exposure_while_solvent": 1.5001338063330008,
      "realized_annual_volatility_pct": 108.40493575402282,
      "trading_costs_quote_units": 1540.4900546009565,
      "borrowing_costs_quote_units": 33543.59615792676,
      "price_pnl_quote_units": 52595.37357223844,
      "turnover_quote_units": 2567483.424334931,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 35943.059659746,
      "return_pct": 259.43059659746,
      "cagr_pct": 37.695455957820826,
      "max_drawdown_pct": 66.85775652720272,
      "mean_exposure_while_solvent": 0.7541004397462389,
      "realized_annual_volatility_pct": 56.026440876248294,
      "trading_costs_quote_units": 744.3550655772814,
      "borrowing_costs_quote_units": 70.88568751854865,
      "price_pnl_quote_units": 26758.300412841763,
      "turnover_quote_units": 1240591.775962138,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 39830.75382549272,
      "return_pct": 298.30753825492724,
      "cagr_pct": 41.27709338363012,
      "max_drawdown_pct": 81.35132738000657,
      "mean_exposure_while_solvent": 0.9889007019127429,
      "realized_annual_volatility_pct": 68.35896656324827,
      "trading_costs_quote_units": 1079.0102768546624,
      "borrowing_costs_quote_units": 642.7789895359906,
      "price_pnl_quote_units": 31552.543091882846,
      "turnover_quote_units": 1798350.4614244392,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 35855.24343686488,
      "return_pct": 258.5524343686488,
      "cagr_pct": 37.61126467164765,
      "max_drawdown_pct": 89.22527971401693,
      "mean_exposure_while_solvent": 1.1742802842737767,
      "realized_annual_volatility_pct": 79.5389277136049,
      "trading_costs_quote_units": 1541.0261303171583,
      "borrowing_costs_quote_units": 2868.5678402928256,
      "price_pnl_quote_units": 30264.83740747556,
      "turnover_quote_units": 2568376.8838619324,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 38524.19338375525,
      "return_pct": 285.2419338375525,
      "cagr_pct": 40.103858218409016,
      "max_drawdown_pct": 81.9623179699721,
      "mean_exposure_while_solvent": 1.0151175327419668,
      "realized_annual_volatility_pct": 67.08106825621205,
      "trading_costs_quote_units": 2056.877364192913,
      "borrowing_costs_quote_units": 1063.7172453646735,
      "price_pnl_quote_units": 31644.78799331293,
      "turnover_quote_units": 3428128.940321516,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1298,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 48130.8714779081,
      "return_pct": 381.308714779081,
      "cagr_pct": 48.12398784831949,
      "max_drawdown_pct": 78.39543376480798,
      "mean_exposure_while_solvent": 0.9980106335676675,
      "realized_annual_volatility_pct": 70.4326283459468,
      "trading_costs_quote_units": 500.478083280416,
      "borrowing_costs_quote_units": 367.524852546414,
      "price_pnl_quote_units": 38998.87441373556,
      "turnover_quote_units": 834130.1388006939,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 753,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 37616.7416951809,
      "return_pct": 276.167416951809,
      "cagr_pct": 39.27132424700263,
      "max_drawdown_pct": 77.16417880852826,
      "mean_exposure_while_solvent": 0.909585891441808,
      "realized_annual_volatility_pct": 64.30338975308864,
      "trading_costs_quote_units": 539.198699371155,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 28155.940394552093,
      "turnover_quote_units": 898664.4989519252,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 636,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 37260.94314927062,
      "return_pct": 272.6094314927062,
      "cagr_pct": 38.94078699528768,
      "max_drawdown_pct": 65.30940136080457,
      "mean_exposure_while_solvent": 0.7498727708234126,
      "realized_annual_volatility_pct": 53.32902258136855,
      "trading_costs_quote_units": 195.21907390590832,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27456.16222317618,
      "turnover_quote_units": 325365.12317651405,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 44893.37864094483,
      "return_pct": 348.9337864094483,
      "cagr_pct": 45.567416637628966,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9996570644718793,
      "realized_annual_volatility_pct": 71.27035287363287,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34899.37504310307,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 44651.62846084954,
      "return_pct": 346.5162846084954,
      "cagr_pct": 45.37102767003905,
      "max_drawdown_pct": 85.51443126503486,
      "mean_exposure_while_solvent": 1.249471134336138,
      "realized_annual_volatility_pct": 89.35333258361113,
      "trading_costs_quote_units": 665.5942678938471,
      "borrowing_costs_quote_units": 4270.184673524734,
      "price_pnl_quote_units": 39587.40740226824,
      "turnover_quote_units": 1109323.7798230771,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 38772.487634708916,
      "return_pct": 287.72487634708915,
      "cagr_pct": 40.32908799552619,
      "max_drawdown_pct": 91.69013562832667,
      "mean_exposure_while_solvent": 1.4993646508912533,
      "realized_annual_volatility_pct": 107.61611709404933,
      "trading_costs_quote_units": 2017.255915431234,
      "borrowing_costs_quote_units": 10660.245937988817,
      "price_pnl_quote_units": 41449.98948813,
      "turnover_quote_units": 3362093.192385388,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 35862.45221860218,
      "return_pct": 258.62452218602175,
      "cagr_pct": 37.61818170710678,
      "max_drawdown_pct": 66.87271534562036,
      "mean_exposure_while_solvent": 0.7541012426759235,
      "realized_annual_volatility_pct": 56.02649660160157,
      "trading_costs_quote_units": 743.693379711111,
      "borrowing_costs_quote_units": 141.59821814947037,
      "price_pnl_quote_units": 26747.743816463175,
      "turnover_quote_units": 1239488.9661851844,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 39203.812817308644,
      "return_pct": 292.0381281730864,
      "cagr_pct": 40.71778810048554,
      "max_drawdown_pct": 81.4166760080061,
      "mean_exposure_while_solvent": 0.9889068511764757,
      "realized_annual_volatility_pct": 68.35932819060044,
      "trading_costs_quote_units": 1068.4305207846899,
      "borrowing_costs_quote_units": 1273.091645079998,
      "price_pnl_quote_units": 31545.334983173067,
      "turnover_quote_units": 1780717.5346411495,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 34409.090415145736,
      "return_pct": 244.09090415145735,
      "cagr_pct": 36.202037807911445,
      "max_drawdown_pct": 89.37615150589502,
      "mean_exposure_while_solvent": 1.1742969099172695,
      "realized_annual_volatility_pct": 79.54032258757395,
      "trading_costs_quote_units": 1505.2920876648388,
      "borrowing_costs_quote_units": 5597.31815382551,
      "price_pnl_quote_units": 31511.70065663623,
      "turnover_quote_units": 2508820.146108063,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 37578.596102022784,
      "return_pct": 275.78596102022783,
      "cagr_pct": 39.23599945060952,
      "max_drawdown_pct": 82.05737474065712,
      "mean_exposure_while_solvent": 1.0151274959562384,
      "realized_annual_volatility_pct": 67.08183262638224,
      "trading_costs_quote_units": 2025.6922048890872,
      "borrowing_costs_quote_units": 2095.0955664693142,
      "price_pnl_quote_units": 31699.383873381375,
      "turnover_quote_units": 3376153.674815152,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1298,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 47679.51568041998,
      "return_pct": 376.79515680419985,
      "cagr_pct": 47.77545545811162,
      "max_drawdown_pct": 78.42675328013274,
      "mean_exposure_while_solvent": 0.998014115600827,
      "realized_annual_volatility_pct": 70.4327432497459,
      "trading_costs_quote_units": 497.55857288139504,
      "borrowing_costs_quote_units": 730.9043027571156,
      "price_pnl_quote_units": 38907.97855605815,
      "turnover_quote_units": 829264.2881356579,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 753,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 37616.7416951809,
      "return_pct": 276.167416951809,
      "cagr_pct": 39.27132424700263,
      "max_drawdown_pct": 77.16417880852826,
      "mean_exposure_while_solvent": 0.909585891441808,
      "realized_annual_volatility_pct": 64.30338975308864,
      "trading_costs_quote_units": 539.198699371155,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 28155.940394552093,
      "turnover_quote_units": 898664.4989519252,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 636,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 37260.94314927062,
      "return_pct": 272.6094314927062,
      "cagr_pct": 38.94078699528768,
      "max_drawdown_pct": 65.30940136080457,
      "mean_exposure_while_solvent": 0.7498727708234126,
      "realized_annual_volatility_pct": 53.32902258136855,
      "trading_costs_quote_units": 195.21907390590832,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27456.16222317618,
      "turnover_quote_units": 325365.12317651405,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 44893.37864094483,
      "return_pct": 348.9337864094483,
      "cagr_pct": 45.567416637628966,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9996570644718793,
      "realized_annual_volatility_pct": 71.27035287363287,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34899.37504310307,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 42474.23437867645,
      "return_pct": 324.7423437867645,
      "cagr_pct": 43.565241399581716,
      "max_drawdown_pct": 85.7016301452596,
      "mean_exposure_while_solvent": 1.249488972631433,
      "realized_annual_volatility_pct": 89.35506338507894,
      "trading_costs_quote_units": 645.5186337247915,
      "borrowing_costs_quote_units": 8276.611769635687,
      "price_pnl_quote_units": 41396.36478203763,
      "turnover_quote_units": 1075864.389541319,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 35081.053847954754,
      "return_pct": 250.81053847954755,
      "cagr_pct": 36.862259200475265,
      "max_drawdown_pct": 92.01901021425832,
      "mean_exposure_while_solvent": 1.4994074928099894,
      "realized_annual_volatility_pct": 107.62033405195362,
      "trading_costs_quote_units": 1897.723466154226,
      "borrowing_costs_quote_units": 20034.525622107976,
      "price_pnl_quote_units": 47013.30293621817,
      "turnover_quote_units": 3162872.4435903756,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 35701.7436938503,
      "return_pct": 257.017436938503,
      "cagr_pct": 37.46372904794949,
      "max_drawdown_pct": 66.90261945896303,
      "mean_exposure_while_solvent": 0.7541028487876755,
      "realized_annual_volatility_pct": 56.02660979235551,
      "trading_costs_quote_units": 742.3717539846593,
      "borrowing_costs_quote_units": 282.50518346214074,
      "price_pnl_quote_units": 26726.620631296828,
      "turnover_quote_units": 1237286.2566411009,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 37979.074198663926,
      "return_pct": 279.79074198663926,
      "cagr_pct": 39.60553058384817,
      "max_drawdown_pct": 81.54671996109558,
      "mean_exposure_while_solvent": 0.9889191519956899,
      "realized_annual_volatility_pct": 68.36006274950678,
      "trading_costs_quote_units": 1047.6149260632196,
      "borrowing_costs_quote_units": 2497.1363313055754,
      "price_pnl_quote_units": 31523.82545603217,
      "turnover_quote_units": 1746024.8767720307,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 31688.728656881685,
      "return_pct": 216.88728656881688,
      "cagr_pct": 33.426007551833145,
      "max_drawdown_pct": 89.67166176054921,
      "mean_exposure_while_solvent": 1.1743301678564624,
      "realized_annual_volatility_pct": 79.54313173777877,
      "trading_costs_quote_units": 1436.515127551831,
      "borrowing_costs_quote_units": 10657.62735839718,
      "price_pnl_quote_units": 33782.87114282946,
      "turnover_quote_units": 2394191.879253057,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 35755.99249583486,
      "return_pct": 257.5599249583486,
      "cagr_pct": 37.515924311072816,
      "max_drawdown_pct": 82.24603531688534,
      "mean_exposure_while_solvent": 1.0151474263326516,
      "realized_annual_volatility_pct": 67.08337947919586,
      "trading_costs_quote_units": 1964.8705351298124,
      "borrowing_costs_quote_units": 4064.157172666786,
      "price_pnl_quote_units": 31785.020203631313,
      "turnover_quote_units": 3274784.2252163514,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1298,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 46789.246398261224,
      "return_pct": 367.89246398261224,
      "cagr_pct": 47.080679246321225,
      "max_drawdown_pct": 78.48926890763315,
      "mean_exposure_while_solvent": 0.9980210808495226,
      "realized_annual_volatility_pct": 70.43297874899642,
      "trading_costs_quote_units": 491.78389842714125,
      "borrowing_costs_quote_units": 1445.3881767017094,
      "price_pnl_quote_units": 38726.41847339021,
      "turnover_quote_units": 819639.8307119026,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 753,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 37616.7416951809,
      "return_pct": 276.167416951809,
      "cagr_pct": 39.27132424700263,
      "max_drawdown_pct": 77.16417880852826,
      "mean_exposure_while_solvent": 0.909585891441808,
      "realized_annual_volatility_pct": 64.30338975308864,
      "trading_costs_quote_units": 539.198699371155,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 28155.940394552093,
      "turnover_quote_units": 898664.4989519252,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 636,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 37260.94314927062,
      "return_pct": 272.6094314927062,
      "cagr_pct": 38.94078699528768,
      "max_drawdown_pct": 65.30940136080457,
      "mean_exposure_while_solvent": 0.7498727708234126,
      "realized_annual_volatility_pct": 53.32902258136855,
      "trading_costs_quote_units": 195.21907390590832,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27456.16222317618,
      "turnover_quote_units": 325365.12317651405,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 44893.37864094483,
      "return_pct": 348.9337864094483,
      "cagr_pct": 45.567416637628966,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9996570644718793,
      "realized_annual_volatility_pct": 71.27035287363287,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34899.37504310307,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 38431.92933562226,
      "return_pct": 284.31929335622266,
      "cagr_pct": 40.01988728102741,
      "max_drawdown_pct": 86.21831789858926,
      "mean_exposure_while_solvent": 1.2495246547499976,
      "realized_annual_volatility_pct": 89.35852586619113,
      "trading_costs_quote_units": 607.3338702229001,
      "borrowing_costs_quote_units": 15550.935662639815,
      "price_pnl_quote_units": 44590.1988684861,
      "turnover_quote_units": 1012223.1170381686,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 28717.471302668615,
      "return_pct": 187.17471302668613,
      "cagr_pct": 30.181603441827527,
      "max_drawdown_pct": 92.63839323333166,
      "mean_exposure_while_solvent": 1.4994931953562969,
      "realized_annual_volatility_pct": 107.62877090815968,
      "trading_costs_quote_units": 1681.0100977795792,
      "borrowing_costs_quote_units": 35417.540694395386,
      "price_pnl_quote_units": 55816.02209484369,
      "turnover_quote_units": 2801683.4962993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 34210.39130785408,
      "return_pct": 242.10391307854078,
      "cagr_pct": 36.00495966551564,
      "max_drawdown_pct": 67.36260259287467,
      "mean_exposure_while_solvent": 0.7543915874900129,
      "realized_annual_volatility_pct": 55.930320260560485,
      "trading_costs_quote_units": 3585.537796220957,
      "borrowing_costs_quote_units": 68.76545486052609,
      "price_pnl_quote_units": 27864.694558936077,
      "turnover_quote_units": 1195179.2654069841,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 37881.19010400862,
      "return_pct": 278.81190104008624,
      "cagr_pct": 39.51548133628371,
      "max_drawdown_pct": 81.7606808735126,
      "mean_exposure_while_solvent": 0.9893633665099577,
      "realized_annual_volatility_pct": 68.25882364996157,
      "trading_costs_quote_units": 5319.036455977567,
      "borrowing_costs_quote_units": 627.8688374663719,
      "price_pnl_quote_units": 33828.09539745179,
      "turnover_quote_units": 1773012.1519925229,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 35271.27473015597,
      "return_pct": 252.71274730155972,
      "cagr_pct": 37.04743219943407,
      "max_drawdown_pct": 89.41606489329891,
      "mean_exposure_while_solvent": 1.1747735676775708,
      "realized_annual_volatility_pct": 79.38302791363829,
      "trading_costs_quote_units": 7794.584479105043,
      "borrowing_costs_quote_units": 2887.537109218513,
      "price_pnl_quote_units": 35953.39631847875,
      "turnover_quote_units": 2598194.8263683505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 33488.469014805974,
      "return_pct": 234.88469014805972,
      "cagr_pct": 35.28161981279273,
      "max_drawdown_pct": 82.13534364670669,
      "mean_exposure_while_solvent": 1.0155188395247217,
      "realized_annual_volatility_pct": 66.88722593895629,
      "trading_costs_quote_units": 9215.293912322693,
      "borrowing_costs_quote_units": 966.9180145943764,
      "price_pnl_quote_units": 33670.680941722785,
      "turnover_quote_units": 3071764.6374408994,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1291,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 46307.783999970874,
      "return_pct": 363.0778399997087,
      "cagr_pct": 46.70080124337778,
      "max_drawdown_pct": 78.71083387624587,
      "mean_exposure_while_solvent": 0.998254459032558,
      "realized_annual_volatility_pct": 70.41913489305237,
      "trading_costs_quote_units": 2407.817687836194,
      "borrowing_costs_quote_units": 357.82403659578836,
      "price_pnl_quote_units": 39073.42572440251,
      "turnover_quote_units": 802605.895945397,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 747,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 37811.2175692635,
      "return_pct": 278.112175692635,
      "cagr_pct": 39.451002530426365,
      "max_drawdown_pct": 77.42458900823546,
      "mean_exposure_while_solvent": 0.9097479163673133,
      "realized_annual_volatility_pct": 64.20482273075942,
      "trading_costs_quote_units": 2711.0173607967836,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30522.234930059858,
      "turnover_quote_units": 903672.4535989263,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 630,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 36534.317523221944,
      "return_pct": 265.34317523221944,
      "cagr_pct": 38.258327640911006,
      "max_drawdown_pct": 65.56296943286468,
      "mean_exposure_while_solvent": 0.749966476042854,
      "realized_annual_volatility_pct": 53.226186274864375,
      "trading_costs_quote_units": 955.4536022394151,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27489.77112546174,
      "turnover_quote_units": 318484.53407980496,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 44409.4674131318,
      "return_pct": 344.094674131318,
      "cagr_pct": 45.17350383189074,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9998856881572931,
      "realized_annual_volatility_pct": 71.27141959518148,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34439.37768232467,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 42360.53324854558,
      "return_pct": 323.60533248545585,
      "cagr_pct": 43.46905481664906,
      "max_drawdown_pct": 85.536934702316,
      "mean_exposure_while_solvent": 1.249880888075942,
      "realized_annual_volatility_pct": 89.6069065387803,
      "trading_costs_quote_units": 3094.335175008955,
      "borrowing_costs_quote_units": 4073.971317637585,
      "price_pnl_quote_units": 39528.83974119219,
      "turnover_quote_units": 1031445.0583363206,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 34590.05221998038,
      "return_pct": 245.90052219980382,
      "cagr_pct": 36.38078210438505,
      "max_drawdown_pct": 91.81537931794509,
      "mean_exposure_while_solvent": 1.5000036694082852,
      "realized_annual_volatility_pct": 108.38983317041826,
      "trading_costs_quote_units": 8828.094052748273,
      "borrowing_costs_quote_units": 9641.44670191833,
      "price_pnl_quote_units": 43059.59297464684,
      "turnover_quote_units": 2942698.0175827555,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 34132.969798913095,
      "return_pct": 241.32969798913092,
      "cagr_pct": 35.927937313566304,
      "max_drawdown_pct": 67.37727863161341,
      "mean_exposure_while_solvent": 0.7543924097984033,
      "realized_annual_volatility_pct": 55.93037487824352,
      "trading_costs_quote_units": 3582.3282746122864,
      "borrowing_costs_quote_units": 137.3622567846389,
      "price_pnl_quote_units": 27852.660330309885,
      "turnover_quote_units": 1194109.424870762,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 37283.60464433655,
      "return_pct": 272.8360464433655,
      "cagr_pct": 38.961909966278405,
      "max_drawdown_pct": 81.82499816215834,
      "mean_exposure_while_solvent": 0.989369586953499,
      "realized_annual_volatility_pct": 68.25931559806496,
      "trading_costs_quote_units": 5266.944444171551,
      "borrowing_costs_quote_units": 1243.6015511505987,
      "price_pnl_quote_units": 33794.150639658124,
      "turnover_quote_units": 1755648.1480571828,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33848.52833192008,
      "return_pct": 238.48528331920082,
      "cagr_pct": 35.64383240861574,
      "max_drawdown_pct": 89.56424776294533,
      "mean_exposure_while_solvent": 1.1747903656773622,
      "realized_annual_volatility_pct": 79.38462901329926,
      "trading_costs_quote_units": 7613.924230835404,
      "borrowing_costs_quote_units": 5634.578598981613,
      "price_pnl_quote_units": 37097.031161737206,
      "turnover_quote_units": 2537974.743611803,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 32666.340991857178,
      "return_pct": 226.66340991857177,
      "cagr_pct": 34.44349263506023,
      "max_drawdown_pct": 82.22956725101433,
      "mean_exposure_while_solvent": 1.0155289743572897,
      "realized_annual_volatility_pct": 66.88805912982902,
      "trading_costs_quote_units": 9077.055550892788,
      "borrowing_costs_quote_units": 1904.9224581768383,
      "price_pnl_quote_units": 33648.319000926705,
      "turnover_quote_units": 3025685.183630933,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1291,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 45873.826911080156,
      "return_pct": 358.7382691108016,
      "cagr_pct": 46.35585878696041,
      "max_drawdown_pct": 78.74183340065447,
      "mean_exposure_while_solvent": 0.9982579635581063,
      "realized_annual_volatility_pct": 70.41929018172787,
      "trading_costs_quote_units": 2393.7734202537763,
      "borrowing_costs_quote_units": 711.6299814216339,
      "price_pnl_quote_units": 38979.23031275554,
      "turnover_quote_units": 797924.4734179262,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 747,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 37811.2175692635,
      "return_pct": 278.112175692635,
      "cagr_pct": 39.451002530426365,
      "max_drawdown_pct": 77.42458900823546,
      "mean_exposure_while_solvent": 0.9097479163673133,
      "realized_annual_volatility_pct": 64.20482273075942,
      "trading_costs_quote_units": 2711.0173607967836,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30522.234930059858,
      "turnover_quote_units": 903672.4535989263,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 630,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36534.317523221944,
      "return_pct": 265.34317523221944,
      "cagr_pct": 38.258327640911006,
      "max_drawdown_pct": 65.56296943286468,
      "mean_exposure_while_solvent": 0.749966476042854,
      "realized_annual_volatility_pct": 53.226186274864375,
      "trading_costs_quote_units": 955.4536022394151,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27489.77112546174,
      "turnover_quote_units": 318484.53407980496,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 44409.4674131318,
      "return_pct": 344.094674131318,
      "cagr_pct": 45.17350383189074,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9998856881572931,
      "realized_annual_volatility_pct": 71.27141959518148,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34439.37768232467,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 40294.542333709294,
      "return_pct": 302.9454233370929,
      "cagr_pct": 41.68661343728537,
      "max_drawdown_pct": 85.74605122596451,
      "mean_exposure_while_solvent": 1.2498989417887392,
      "realized_annual_volatility_pct": 89.60887716551558,
      "trading_costs_quote_units": 3001.555310732137,
      "borrowing_costs_quote_units": 7896.665573488279,
      "price_pnl_quote_units": 41192.76321792938,
      "turnover_quote_units": 1000518.4369107122,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 31296.071960794863,
      "return_pct": 212.96071960794865,
      "cagr_pct": 33.01070352481788,
      "max_drawdown_pct": 92.1393613624469,
      "mean_exposure_while_solvent": 1.5000470419130054,
      "realized_annual_volatility_pct": 108.39474596117743,
      "trading_costs_quote_units": 8308.961930581108,
      "borrowing_costs_quote_units": 18123.4720047871,
      "price_pnl_quote_units": 47728.50589616246,
      "turnover_quote_units": 2769653.976860375,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 33978.6176510903,
      "return_pct": 239.786176510903,
      "cagr_pct": 35.77398910344081,
      "max_drawdown_pct": 67.42523962542187,
      "mean_exposure_while_solvent": 0.7543940546779389,
      "realized_annual_volatility_pct": 55.93048585189362,
      "trading_costs_quote_units": 3575.917883242573,
      "borrowing_costs_quote_units": 274.05125095454565,
      "price_pnl_quote_units": 27828.586785287902,
      "turnover_quote_units": 1191972.6277475236,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 36116.20445861283,
      "return_pct": 261.16204458612833,
      "cagr_pct": 37.86100267014497,
      "max_drawdown_pct": 81.95298297549212,
      "mean_exposure_while_solvent": 0.9893820301832968,
      "realized_annual_volatility_pct": 68.2603108571518,
      "trading_costs_quote_units": 5164.426539106509,
      "borrowing_costs_quote_units": 2439.4493218572984,
      "price_pnl_quote_units": 33720.080319576155,
      "turnover_quote_units": 1721475.513035505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 31172.118408144146,
      "return_pct": 211.72118408144146,
      "cagr_pct": 32.87878939461166,
      "max_drawdown_pct": 89.85449181867268,
      "mean_exposure_while_solvent": 1.1748239685056938,
      "realized_annual_volatility_pct": 79.38785050052213,
      "trading_costs_quote_units": 7266.138270993741,
      "borrowing_costs_quote_units": 10729.46916689743,
      "price_pnl_quote_units": 39167.7258460353,
      "turnover_quote_units": 2422046.090331242,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1099,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 31081.63047051803,
      "return_pct": 210.8163047051803,
      "cagr_pct": 32.78224148495034,
      "max_drawdown_pct": 82.41657340320188,
      "mean_exposure_while_solvent": 1.0155492481936315,
      "realized_annual_volatility_pct": 66.88974351079428,
      "trading_costs_quote_units": 8807.405567889422,
      "borrowing_costs_quote_units": 3697.1240289322413,
      "price_pnl_quote_units": 33586.160067339886,
      "turnover_quote_units": 2935801.855963145,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1291,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 45017.87092185898,
      "return_pct": 350.1787092185898,
      "cagr_pct": 45.668240365592105,
      "max_drawdown_pct": 78.80370970652457,
      "mean_exposure_while_solvent": 0.9982649738117353,
      "realized_annual_volatility_pct": 70.41960629172986,
      "trading_costs_quote_units": 2365.959364796889,
      "borrowing_costs_quote_units": 1407.3434325827723,
      "price_pnl_quote_units": 38791.17371923842,
      "turnover_quote_units": 788653.1215989633,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 747,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 37811.2175692635,
      "return_pct": 278.112175692635,
      "cagr_pct": 39.451002530426365,
      "max_drawdown_pct": 77.42458900823546,
      "mean_exposure_while_solvent": 0.9097479163673133,
      "realized_annual_volatility_pct": 64.20482273075942,
      "trading_costs_quote_units": 2711.0173607967836,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30522.234930059858,
      "turnover_quote_units": 903672.4535989263,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 630,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 36534.317523221944,
      "return_pct": 265.34317523221944,
      "cagr_pct": 38.258327640911006,
      "max_drawdown_pct": 65.56296943286468,
      "mean_exposure_while_solvent": 0.749966476042854,
      "realized_annual_volatility_pct": 53.226186274864375,
      "trading_costs_quote_units": 955.4536022394151,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27489.77112546174,
      "turnover_quote_units": 318484.53407980496,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 44409.4674131318,
      "return_pct": 344.094674131318,
      "cagr_pct": 45.17350383189074,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9998856881572931,
      "realized_annual_volatility_pct": 71.27141959518148,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34439.37768232467,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 36458.99190363992,
      "return_pct": 264.58991903639924,
      "cagr_pct": 38.186999876708875,
      "max_drawdown_pct": 86.30956344199429,
      "mean_exposure_while_solvent": 1.249935054951396,
      "realized_annual_volatility_pct": 89.61281925751614,
      "trading_costs_quote_units": 2825.3037682310796,
      "borrowing_costs_quote_units": 14838.433032119863,
      "price_pnl_quote_units": 44122.72870399079,
      "turnover_quote_units": 941767.9227436922,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 25617.666093270876,
      "return_pct": 156.17666093270876,
      "cagr_pct": 26.51631758528545,
      "max_drawdown_pct": 92.74955299891495,
      "mean_exposure_while_solvent": 1.5001338063330008,
      "realized_annual_volatility_pct": 108.40457469813552,
      "trading_costs_quote_units": 7368.595938675506,
      "borrowing_costs_quote_units": 32052.819922273713,
      "price_pnl_quote_units": 55039.081954219626,
      "turnover_quote_units": 2456198.646225167,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1452,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33535.82978732981,
      "return_pct": 235.35829787329808,
      "cagr_pct": 35.32943013243368,
      "max_drawdown_pct": 67.35473272955919,
      "mean_exposure_while_solvent": 0.7541004397462389,
      "realized_annual_volatility_pct": 56.03734395431421,
      "trading_costs_quote_units": 3565.0612196474494,
      "borrowing_costs_quote_units": 67.05143018661208,
      "price_pnl_quote_units": 27167.94243716427,
      "turnover_quote_units": 1188353.7398824831,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 37180.33087095462,
      "return_pct": 271.8033087095462,
      "cagr_pct": 38.86556942671643,
      "max_drawdown_pct": 81.65865484407433,
      "mean_exposure_while_solvent": 0.9889007019127429,
      "realized_annual_volatility_pct": 68.36591706729548,
      "trading_costs_quote_units": 5165.485500898734,
      "borrowing_costs_quote_units": 614.7077318847286,
      "price_pnl_quote_units": 32960.52410373851,
      "turnover_quote_units": 1721828.500299579,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33353.48420377975,
      "return_pct": 233.5348420377975,
      "cagr_pct": 35.14507492689736,
      "max_drawdown_pct": 89.44724082675334,
      "mean_exposure_while_solvent": 1.1742802842737767,
      "realized_annual_volatility_pct": 79.54512221334895,
      "trading_costs_quote_units": 7361.834322023451,
      "borrowing_costs_quote_units": 2733.1540739779944,
      "price_pnl_quote_units": 33448.47259978051,
      "turnover_quote_units": 2453944.77400782,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33650.72988226215,
      "return_pct": 236.50729882262152,
      "cagr_pct": 35.44521076665329,
      "max_drawdown_pct": 82.52884923776055,
      "mean_exposure_while_solvent": 1.0151175327419668,
      "realized_annual_volatility_pct": 67.08419875881218,
      "trading_costs_quote_units": 9436.83288054823,
      "borrowing_costs_quote_units": 974.3248553786294,
      "price_pnl_quote_units": 34061.88761818851,
      "turnover_quote_units": 3145610.960182742,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1298,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 46446.23637067151,
      "return_pct": 364.4623637067151,
      "cagr_pct": 46.810343606834124,
      "max_drawdown_pct": 78.59279353129095,
      "mean_exposure_while_solvent": 0.9980106335676675,
      "realized_annual_volatility_pct": 70.43685966595645,
      "trading_costs_quote_units": 2443.7243754046413,
      "borrowing_costs_quote_units": 358.6384629482648,
      "price_pnl_quote_units": 39248.59920902429,
      "turnover_quote_units": 814574.7918015472,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 753,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 36337.494192510996,
      "return_pct": 263.37494192510997,
      "cagr_pct": 38.071717318949624,
      "max_drawdown_pct": 77.34874565493769,
      "mean_exposure_while_solvent": 0.909585891441808,
      "realized_annual_volatility_pct": 64.30825592355066,
      "trading_costs_quote_units": 2638.994763764992,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 28976.48895627596,
      "turnover_quote_units": 879664.9212549978,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 636,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 36587.57394517215,
      "return_pct": 265.87573945172153,
      "cagr_pct": 38.308690987706726,
      "max_drawdown_pct": 65.45770190119838,
      "mean_exposure_while_solvent": 0.7498727708234126,
      "realized_annual_volatility_pct": 53.33049419995605,
      "trading_costs_quote_units": 964.9053282565436,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27552.479273428842,
      "turnover_quote_units": 321635.1094188481,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 44785.95679773619,
      "return_pct": 347.8595679773619,
      "cagr_pct": 45.48024923833073,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9996570644718793,
      "realized_annual_volatility_pct": 71.27051850546118,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34815.867066929146,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 43311.40471891009,
      "return_pct": 333.1140471891009,
      "cagr_pct": 44.267572703713896,
      "max_drawdown_pct": 85.61860331153869,
      "mean_exposure_while_solvent": 1.249471134336138,
      "realized_annual_volatility_pct": 89.35669390003221,
      "trading_costs_quote_units": 3263.012590821556,
      "borrowing_costs_quote_units": 4184.624755937495,
      "price_pnl_quote_units": 40759.042065669244,
      "turnover_quote_units": 1087670.8636071836,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 36161.018195713754,
      "return_pct": 261.6101819571375,
      "cagr_pct": 37.90375286245482,
      "max_drawdown_pct": 91.92723892266457,
      "mean_exposure_while_solvent": 1.4993646508912533,
      "realized_annual_volatility_pct": 107.62518559289371,
      "trading_costs_quote_units": 9656.08292420725,
      "borrowing_costs_quote_units": 10195.033286597585,
      "price_pnl_quote_units": 46012.13440651903,
      "turnover_quote_units": 3218694.308069083,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 33460.64946370495,
      "return_pct": 234.60649463704945,
      "cagr_pct": 35.25351255321284,
      "max_drawdown_pct": 67.36946484717228,
      "mean_exposure_while_solvent": 0.7541012426759235,
      "realized_annual_volatility_pct": 56.037400819273095,
      "trading_costs_quote_units": 3561.9087917774405,
      "borrowing_costs_quote_units": 133.94032692084832,
      "price_pnl_quote_units": 27156.49858240337,
      "turnover_quote_units": 1187302.9305924834,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 36595.05652888598,
      "return_pct": 265.9505652888598,
      "cagr_pct": 38.3157626855143,
      "max_drawdown_pct": 81.72294586961863,
      "mean_exposure_while_solvent": 0.9889068511764757,
      "realized_annual_volatility_pct": 68.36628550146862,
      "trading_costs_quote_units": 5115.054338724443,
      "borrowing_costs_quote_units": 1217.5780176124474,
      "price_pnl_quote_units": 32927.68888522321,
      "turnover_quote_units": 1705018.112908146,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 32008.15364079945,
      "return_pct": 220.0815364079945,
      "cagr_pct": 33.7610185303073,
      "max_drawdown_pct": 89.5950393621326,
      "mean_exposure_while_solvent": 1.1742969099172695,
      "realized_annual_volatility_pct": 79.5465359091925,
      "trading_costs_quote_units": 7191.869499578227,
      "borrowing_costs_quote_units": 5333.7552498333835,
      "price_pnl_quote_units": 34533.77839021026,
      "turnover_quote_units": 2397289.8331927415,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 32824.56571686545,
      "return_pct": 228.2456571686545,
      "cagr_pct": 34.606016033994585,
      "max_drawdown_pct": 82.62096152114789,
      "mean_exposure_while_solvent": 1.0151274959562384,
      "realized_annual_volatility_pct": 67.08497727705448,
      "trading_costs_quote_units": 9295.029883696521,
      "borrowing_costs_quote_units": 1919.4270520271489,
      "price_pnl_quote_units": 34039.02265258876,
      "turnover_quote_units": 3098343.294565508,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1298,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 46010.80173648809,
      "return_pct": 360.1080173648809,
      "cagr_pct": 46.46500024658234,
      "max_drawdown_pct": 78.62381636764397,
      "mean_exposure_while_solvent": 0.998014115600827,
      "realized_annual_volatility_pct": 70.43697964838584,
      "trading_costs_quote_units": 2429.5105798324175,
      "borrowing_costs_quote_units": 713.246637719515,
      "price_pnl_quote_units": 39153.55895403989,
      "turnover_quote_units": 809836.8599441387,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 753,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 36337.494192510996,
      "return_pct": 263.37494192510997,
      "cagr_pct": 38.071717318949624,
      "max_drawdown_pct": 77.34874565493769,
      "mean_exposure_while_solvent": 0.909585891441808,
      "realized_annual_volatility_pct": 64.30825592355066,
      "trading_costs_quote_units": 2638.994763764992,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 28976.48895627596,
      "turnover_quote_units": 879664.9212549978,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 636,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 36587.57394517215,
      "return_pct": 265.87573945172153,
      "cagr_pct": 38.308690987706726,
      "max_drawdown_pct": 65.45770190119838,
      "mean_exposure_while_solvent": 0.7498727708234126,
      "realized_annual_volatility_pct": 53.33049419995605,
      "trading_costs_quote_units": 964.9053282565436,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27552.479273428842,
      "turnover_quote_units": 321635.1094188481,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 44785.95679773619,
      "return_pct": 347.8595679773619,
      "cagr_pct": 45.48024923833073,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9996570644718793,
      "realized_annual_volatility_pct": 71.27051850546118,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34815.867066929146,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 41199.257640233875,
      "return_pct": 311.9925764023387,
      "cagr_pct": 42.47540030700323,
      "max_drawdown_pct": 85.82249555509891,
      "mean_exposure_while_solvent": 1.2494889726314329,
      "realized_annual_volatility_pct": 89.35844636802081,
      "trading_costs_quote_units": 3164.8128715150224,
      "borrowing_costs_quote_units": 8111.279573771891,
      "price_pnl_quote_units": 42475.35008552089,
      "turnover_quote_units": 1054937.6238383404,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 32717.848635113907,
      "return_pct": 227.17848635113907,
      "cagr_pct": 34.49646433416726,
      "max_drawdown_pct": 92.24688669903439,
      "mean_exposure_while_solvent": 1.4994074928099894,
      "realized_annual_volatility_pct": 107.62945621510637,
      "trading_costs_quote_units": 9086.11133743021,
      "borrowing_costs_quote_units": 19165.185650331798,
      "price_pnl_quote_units": 50969.14562287709,
      "turnover_quote_units": 3028703.779143406,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33310.760896831634,
      "return_pct": 233.10760896831636,
      "cagr_pct": 35.101771512514226,
      "max_drawdown_pct": 67.39891576764978,
      "mean_exposure_while_solvent": 0.7541028487876755,
      "realized_annual_volatility_pct": 56.03751628821859,
      "trading_costs_quote_units": 3555.612219929116,
      "borrowing_costs_quote_units": 267.2318060591819,
      "price_pnl_quote_units": 27133.604922819814,
      "turnover_quote_units": 1185204.0733097037,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 35451.679226007895,
      "return_pct": 254.51679226007892,
      "cagr_pct": 37.22235860703918,
      "max_drawdown_pct": 81.85089555576894,
      "mean_exposure_while_solvent": 0.9889191519956899,
      "realized_annual_volatility_pct": 68.36703383738715,
      "trading_costs_quote_units": 5015.826767970831,
      "borrowing_costs_quote_units": 2388.5797544103593,
      "price_pnl_quote_units": 32856.085748388694,
      "turnover_quote_units": 1671942.2559902763,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29477.402592826,
      "return_pct": 194.77402592826002,
      "cagr_pct": 31.034511583484704,
      "max_drawdown_pct": 89.88453623127704,
      "mean_exposure_while_solvent": 1.1743301678564624,
      "realized_annual_volatility_pct": 79.5493829861339,
      "trading_costs_quote_units": 6864.70349991619,
      "borrowing_costs_quote_units": 10158.332461532724,
      "price_pnl_quote_units": 36500.43855427492,
      "turnover_quote_units": 2288234.4999720636,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1106,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 31232.120655951418,
      "return_pct": 212.3212065595142,
      "cagr_pct": 32.942694151326016,
      "max_drawdown_pct": 82.8037880202569,
      "mean_exposure_while_solvent": 1.0151474263326516,
      "realized_annual_volatility_pct": 67.08655254679323,
      "trading_costs_quote_units": 9018.434940005,
      "borrowing_costs_quote_units": 3724.942911923937,
      "price_pnl_quote_units": 33975.498507880126,
      "turnover_quote_units": 3006144.9800016703,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1298,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 45151.89001513523,
      "return_pct": 351.5189001513523,
      "cagr_pct": 45.77654621242876,
      "max_drawdown_pct": 78.68573985260548,
      "mean_exposure_while_solvent": 0.9980210808495226,
      "realized_annual_volatility_pct": 70.43722540093162,
      "trading_costs_quote_units": 2401.3944323953247,
      "borrowing_costs_quote_units": 1410.5274961357943,
      "price_pnl_quote_units": 38963.81194366651,
      "turnover_quote_units": 800464.8107984411,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 753,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 36337.494192510996,
      "return_pct": 263.37494192510997,
      "cagr_pct": 38.071717318949624,
      "max_drawdown_pct": 77.34874565493769,
      "mean_exposure_while_solvent": 0.909585891441808,
      "realized_annual_volatility_pct": 64.30825592355066,
      "trading_costs_quote_units": 2638.994763764992,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 28976.48895627596,
      "turnover_quote_units": 879664.9212549978,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 636,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 36587.57394517215,
      "return_pct": 265.87573945172153,
      "cagr_pct": 38.308690987706726,
      "max_drawdown_pct": 65.45770190119838,
      "mean_exposure_while_solvent": 0.7498727708234126,
      "realized_annual_volatility_pct": 53.33049419995605,
      "trading_costs_quote_units": 964.9053282565436,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 27552.479273428842,
      "turnover_quote_units": 321635.1094188481,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 44785.95679773619,
      "return_pct": 347.8595679773619,
      "cagr_pct": 45.48024923833073,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9996570644718793,
      "realized_annual_volatility_pct": 71.27051850546118,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 34815.867066929146,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 37278.02976595905,
      "return_pct": 272.78029765959053,
      "cagr_pct": 38.956714468245124,
      "max_drawdown_pct": 86.38309212527591,
      "mean_exposure_while_solvent": 1.2495246547499976,
      "realized_annual_volatility_pct": 89.36195232735768,
      "trading_costs_quote_units": 2978.0170315255345,
      "borrowing_costs_quote_units": 15242.192794189968,
      "price_pnl_quote_units": 45498.239591674836,
      "turnover_quote_units": 992672.3438418426,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26782.223743807575,
      "return_pct": 167.82223743807575,
      "cagr_pct": 27.930430619781088,
      "max_drawdown_pct": 92.84888401146516,
      "mean_exposure_while_solvent": 1.4994931953562969,
      "realized_annual_volatility_pct": 107.63800077879809,
      "trading_costs_quote_units": 8052.480675764151,
      "borrowing_costs_quote_units": 33898.61779604708,
      "price_pnl_quote_units": 58733.32221561862,
      "turnover_quote_units": 2684160.2252547173,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1459,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 45023.11052741937,
      "return_pct": 350.2311052741937,
      "cagr_pct": 57.32035713926429,
      "max_drawdown_pct": 54.83661839673035,
      "mean_exposure_while_solvent": 0.9486745960907408,
      "realized_annual_volatility_pct": 42.42591677345146,
      "trading_costs_quote_units": 596.2164722153225,
      "borrowing_costs_quote_units": 557.5678366520543,
      "price_pnl_quote_units": 36176.89483628644,
      "turnover_quote_units": 993694.1203588714,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 70214.95621955754,
      "return_pct": 602.1495621955754,
      "cagr_pct": 79.8481360006974,
      "max_drawdown_pct": 60.76269519414945,
      "mean_exposure_while_solvent": 1.2946230108336751,
      "realized_annual_volatility_pct": 58.56022471513459,
      "trading_costs_quote_units": 851.088489916334,
      "borrowing_costs_quote_units": 3011.2847203336923,
      "price_pnl_quote_units": 64077.32942980736,
      "turnover_quote_units": 1418480.816527223,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 75807.40929884746,
      "return_pct": 658.0740929884746,
      "cagr_pct": 84.04709497228977,
      "max_drawdown_pct": 61.448443570030065,
      "mean_exposure_while_solvent": 1.4439584457706476,
      "realized_annual_volatility_pct": 66.85896424765349,
      "trading_costs_quote_units": 778.6013042190617,
      "borrowing_costs_quote_units": 4857.52054519238,
      "price_pnl_quote_units": 71443.53114825916,
      "turnover_quote_units": 1297668.840365101,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 57238.66743600551,
      "return_pct": 472.3866743600551,
      "cagr_pct": 69.11474375446214,
      "max_drawdown_pct": 60.40182572066946,
      "mean_exposure_while_solvent": 1.30595034342053,
      "realized_annual_volatility_pct": 58.53013455450419,
      "trading_costs_quote_units": 1162.571405909606,
      "borrowing_costs_quote_units": 2880.8678049271157,
      "price_pnl_quote_units": 51282.10664684232,
      "turnover_quote_units": 1937619.0098493416,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1200,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 69093.5418481664,
      "return_pct": 590.935418481664,
      "cagr_pct": 78.97823368070989,
      "max_drawdown_pct": 61.06861124621773,
      "mean_exposure_while_solvent": 1.2800753114670589,
      "realized_annual_volatility_pct": 58.501164140320775,
      "trading_costs_quote_units": 579.9659368833271,
      "borrowing_costs_quote_units": 2790.5869620489652,
      "price_pnl_quote_units": 62464.0947470985,
      "turnover_quote_units": 966609.8948055449,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1154,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 45726.78469812381,
      "return_pct": 357.2678469812381,
      "cagr_pct": 58.05682323537029,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9894439620592954,
      "realized_annual_volatility_pct": 46.05357876941454,
      "trading_costs_quote_units": 51.23129538471092,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35778.01599350863,
      "turnover_quote_units": 85385.49230785151,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 143,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 33841.350477362874,
      "return_pct": 238.41350477362874,
      "cagr_pct": 44.35952977099926,
      "max_drawdown_pct": 40.03701517863032,
      "mean_exposure_while_solvent": 0.749963044394577,
      "realized_annual_volatility_pct": 34.97481081945264,
      "trading_costs_quote_units": 71.99527018493767,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23913.345747547715,
      "turnover_quote_units": 119992.11697489639,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 46517.80520100882,
      "return_pct": 365.1780520100882,
      "cagr_pct": 58.875310432544396,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9998625807338188,
      "realized_annual_volatility_pct": 46.628065692939906,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36523.80160316748,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 58253.71791024855,
      "return_pct": 482.5371791024855,
      "cagr_pct": 70.0123710923286,
      "max_drawdown_pct": 58.66842545485067,
      "mean_exposure_while_solvent": 1.2497718700693117,
      "realized_annual_volatility_pct": 58.28977916103128,
      "trading_costs_quote_units": 212.62759955556461,
      "borrowing_costs_quote_units": 2206.668663705958,
      "price_pnl_quote_units": 50673.01417351001,
      "turnover_quote_units": 354379.33259260847,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 69600.65363626563,
      "return_pct": 596.0065363626563,
      "cagr_pct": 79.37282267623064,
      "max_drawdown_pct": 66.06304371611141,
      "mean_exposure_while_solvent": 1.4997017714172576,
      "realized_annual_volatility_pct": 69.9648317964192,
      "trading_costs_quote_units": 642.0515901396707,
      "borrowing_costs_quote_units": 5694.454289620647,
      "price_pnl_quote_units": 65937.15951602564,
      "turnover_quote_units": 1070085.983566117,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 44450.399359073046,
      "return_pct": 344.5039935907305,
      "cagr_pct": 56.714996451336354,
      "max_drawdown_pct": 54.88832738606393,
      "mean_exposure_while_solvent": 0.9486803926072253,
      "realized_annual_volatility_pct": 42.42616536409983,
      "trading_costs_quote_units": 591.7738214268243,
      "borrowing_costs_quote_units": 1105.9470613571552,
      "price_pnl_quote_units": 36148.12024185732,
      "turnover_quote_units": 986289.7023780429,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 66750.23233846229,
      "return_pct": 567.5023233846229,
      "cagr_pct": 77.12812212525202,
      "max_drawdown_pct": 60.950970782607364,
      "mean_exposure_while_solvent": 1.2946479287127097,
      "realized_annual_volatility_pct": 58.56155539945086,
      "trading_costs_quote_units": 824.4949166635803,
      "borrowing_costs_quote_units": 5825.229291181823,
      "price_pnl_quote_units": 63399.956546307134,
      "turnover_quote_units": 1374158.1944393003,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 70423.14420853765,
      "return_pct": 604.2314420853764,
      "cagr_pct": 80.00856085590802,
      "max_drawdown_pct": 61.692846042582794,
      "mean_exposure_while_solvent": 1.4439958219786813,
      "realized_annual_volatility_pct": 66.8614023397894,
      "trading_costs_quote_units": 743.5439910706068,
      "borrowing_costs_quote_units": 9266.604758924854,
      "price_pnl_quote_units": 70433.2929585332,
      "turnover_quote_units": 1239239.9851176783,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 54233.73499744178,
      "return_pct": 442.3373499744178,
      "cagr_pct": 66.3904658824082,
      "max_drawdown_pct": 60.609184108545186,
      "mean_exposure_while_solvent": 1.3059770950079492,
      "realized_annual_volatility_pct": 58.53185844275831,
      "trading_costs_quote_units": 1125.6790352022063,
      "borrowing_costs_quote_units": 5567.653171889131,
      "price_pnl_quote_units": 50927.067204533116,
      "turnover_quote_units": 1876131.7253370103,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1200,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 65934.47815720215,
      "return_pct": 559.3447815720215,
      "cagr_pct": 76.47341563209149,
      "max_drawdown_pct": 61.20925735163545,
      "mean_exposure_while_solvent": 1.28009815142703,
      "realized_annual_volatility_pct": 58.50247072584451,
      "trading_costs_quote_units": 562.4616811549314,
      "borrowing_costs_quote_units": 5410.497449984192,
      "price_pnl_quote_units": 61907.43728834179,
      "turnover_quote_units": 937436.1352582198,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1154,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 45726.78469812381,
      "return_pct": 357.2678469812381,
      "cagr_pct": 58.05682323537029,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9894439620592954,
      "realized_annual_volatility_pct": 46.05357876941454,
      "trading_costs_quote_units": 51.23129538471092,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35778.01599350863,
      "turnover_quote_units": 85385.49230785151,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 143,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33841.350477362874,
      "return_pct": 238.41350477362874,
      "cagr_pct": 44.35952977099926,
      "max_drawdown_pct": 40.03701517863032,
      "mean_exposure_while_solvent": 0.749963044394577,
      "realized_annual_volatility_pct": 34.97481081945264,
      "trading_costs_quote_units": 71.99527018493767,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23913.345747547715,
      "turnover_quote_units": 119992.11697489639,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 46517.80520100882,
      "return_pct": 365.1780520100882,
      "cagr_pct": 58.875310432544396,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9998625807338188,
      "realized_annual_volatility_pct": 46.628065692939906,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36523.80160316748,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 55887.44463604318,
      "return_pct": 458.8744463604319,
      "cagr_pct": 67.9024050101963,
      "max_drawdown_pct": 58.84221068309194,
      "mean_exposure_while_solvent": 1.249789682597744,
      "realized_annual_volatility_pct": 58.29101877885269,
      "trading_costs_quote_units": 207.5178206324111,
      "borrowing_costs_quote_units": 4301.062822049675,
      "price_pnl_quote_units": 50396.0252787254,
      "turnover_quote_units": 345863.03438735177,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 64060.6938175298,
      "return_pct": 540.606938175298,
      "cagr_pct": 74.947829096102,
      "max_drawdown_pct": 66.34835085085486,
      "mean_exposure_while_solvent": 1.4997445302613661,
      "realized_annual_volatility_pct": 69.96781296637998,
      "trading_costs_quote_units": 610.6469643073401,
      "borrowing_costs_quote_units": 10810.20039396218,
      "price_pnl_quote_units": 65481.54117579938,
      "turnover_quote_units": 1017744.940512232,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 43326.46567830582,
      "return_pct": 333.26465678305823,
      "cagr_pct": 55.51095814076395,
      "max_drawdown_pct": 54.99159200188177,
      "mean_exposure_while_solvent": 0.9486919876626654,
      "realized_annual_volatility_pct": 42.42667753550926,
      "trading_costs_quote_units": 583.0058827231412,
      "borrowing_costs_quote_units": 2175.6432561440683,
      "price_pnl_quote_units": 36085.11481717321,
      "turnover_quote_units": 971676.4712052348,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 60323.59995510574,
      "return_pct": 503.2359995510574,
      "cagr_pct": 71.80947424002852,
      "max_drawdown_pct": 61.324920832340815,
      "mean_exposure_while_solvent": 1.294697774531841,
      "realized_annual_volatility_pct": 58.5642400006274,
      "trading_costs_quote_units": 774.1101167447264,
      "borrowing_costs_quote_units": 10903.721000737978,
      "price_pnl_quote_units": 62001.4310725884,
      "turnover_quote_units": 1290183.5279078756,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 60772.219447915515,
      "return_pct": 507.7221944791551,
      "cagr_pct": 72.19327144307903,
      "max_drawdown_pct": 62.17715315459025,
      "mean_exposure_while_solvent": 1.4440705902072881,
      "realized_annual_volatility_pct": 66.86628695750511,
      "trading_costs_quote_units": 678.7341964482328,
      "borrowing_costs_quote_units": 16876.020074509717,
      "price_pnl_quote_units": 68326.9737188733,
      "turnover_quote_units": 1131223.6607470552,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 48687.413996021205,
      "return_pct": 386.874139960212,
      "cagr_pct": 61.071429290049295,
      "max_drawdown_pct": 61.02076144708792,
      "mean_exposure_while_solvent": 1.3060306091144347,
      "realized_annual_volatility_pct": 58.535329166134076,
      "trading_costs_quote_units": 1055.9143771116474,
      "borrowing_costs_quote_units": 10402.554475783088,
      "price_pnl_quote_units": 50145.8828489163,
      "turnover_quote_units": 1759857.2951860763,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1200,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 60041.556280480654,
      "return_pct": 500.4155628048065,
      "cagr_pct": 71.56716155800919,
      "max_drawdown_pct": 61.48910643310439,
      "mean_exposure_while_solvent": 1.2801438404405898,
      "realized_annual_volatility_pct": 58.50510731197032,
      "trading_costs_quote_units": 529.2366305673012,
      "borrowing_costs_quote_units": 10172.67885400894,
      "price_pnl_quote_units": 60743.471765056864,
      "turnover_quote_units": 882061.0509455029,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1154,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 45726.78469812381,
      "return_pct": 357.2678469812381,
      "cagr_pct": 58.05682323537029,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9894439620592954,
      "realized_annual_volatility_pct": 46.05357876941454,
      "trading_costs_quote_units": 51.23129538471092,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35778.01599350863,
      "turnover_quote_units": 85385.49230785151,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 143,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 33841.350477362874,
      "return_pct": 238.41350477362874,
      "cagr_pct": 44.35952977099926,
      "max_drawdown_pct": 40.03701517863032,
      "mean_exposure_while_solvent": 0.749963044394577,
      "realized_annual_volatility_pct": 34.97481081945264,
      "trading_costs_quote_units": 71.99527018493767,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23913.345747547715,
      "turnover_quote_units": 119992.11697489639,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 46517.80520100882,
      "return_pct": 365.1780520100882,
      "cagr_pct": 58.875310432544396,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9998625807338188,
      "realized_annual_volatility_pct": 46.628065692939906,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36523.80160316748,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 51438.35934064386,
      "return_pct": 414.3835934064386,
      "cagr_pct": 63.759757542196624,
      "max_drawdown_pct": 59.18767253269856,
      "mean_exposure_while_solvent": 1.249825313140933,
      "realized_annual_volatility_pct": 58.29349842137783,
      "trading_costs_quote_units": 197.7597047228421,
      "borrowing_costs_quote_units": 8172.326729327,
      "price_pnl_quote_units": 49808.445774693195,
      "turnover_quote_units": 329599.5078714027,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 54265.989942897824,
      "return_pct": 442.65989942897824,
      "cagr_pct": 66.42026161739123,
      "max_drawdown_pct": 66.94309641824412,
      "mean_exposure_while_solvent": 1.4998300664940496,
      "realized_annual_volatility_pct": 69.97377680111013,
      "trading_costs_quote_units": 553.0894684275968,
      "borrowing_costs_quote_units": 19499.959468245746,
      "price_pnl_quote_units": 64319.03887957116,
      "turnover_quote_units": 921815.7807126616,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 45831.59195627145,
      "return_pct": 358.3159195627145,
      "cagr_pct": 58.16583554323906,
      "max_drawdown_pct": 54.997818041660416,
      "mean_exposure_while_solvent": 0.9483106954103314,
      "realized_annual_volatility_pct": 42.49021822375636,
      "trading_costs_quote_units": 598.2366142468497,
      "borrowing_costs_quote_units": 565.1273787507744,
      "price_pnl_quote_units": 36994.955949269104,
      "turnover_quote_units": 997061.0237447503,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 71875.71459302327,
      "return_pct": 618.7571459302326,
      "cagr_pct": 81.11875498225692,
      "max_drawdown_pct": 60.38406192029706,
      "mean_exposure_while_solvent": 1.2941022155492394,
      "realized_annual_volatility_pct": 58.68119712811938,
      "trading_costs_quote_units": 853.8694111466879,
      "borrowing_costs_quote_units": 3035.134784675124,
      "price_pnl_quote_units": 65764.71878884535,
      "turnover_quote_units": 1423115.6852444792,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 77431.42686458623,
      "return_pct": 674.3142686458623,
      "cagr_pct": 85.2257130333997,
      "max_drawdown_pct": 60.91424189067101,
      "mean_exposure_while_solvent": 1.4435184761098507,
      "realized_annual_volatility_pct": 66.93024121862614,
      "trading_costs_quote_units": 770.1072456886241,
      "borrowing_costs_quote_units": 4891.753618416605,
      "price_pnl_quote_units": 73093.28772869155,
      "turnover_quote_units": 1283512.076147707,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 59401.488415119304,
      "return_pct": 494.01488415119303,
      "cagr_pct": 71.01429300536162,
      "max_drawdown_pct": 60.55486707737605,
      "mean_exposure_while_solvent": 1.3053604716091975,
      "realized_annual_volatility_pct": 58.700183381568905,
      "trading_costs_quote_units": 1189.5806307401801,
      "borrowing_costs_quote_units": 2970.5597643207275,
      "price_pnl_quote_units": 53561.62881018073,
      "turnover_quote_units": 1982634.3845669692,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1200,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 71389.45558403856,
      "return_pct": 613.8945558403856,
      "cagr_pct": 80.74886941430508,
      "max_drawdown_pct": 60.586362096795746,
      "mean_exposure_while_solvent": 1.2796472367645635,
      "realized_annual_volatility_pct": 58.57789307610467,
      "trading_costs_quote_units": 573.6098116699018,
      "borrowing_costs_quote_units": 2824.2334424779137,
      "price_pnl_quote_units": 64787.29883818665,
      "turnover_quote_units": 956016.3527831682,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1154,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 45913.79061912107,
      "return_pct": 359.13790619121073,
      "cagr_pct": 58.2512103264873,
      "max_drawdown_pct": 49.957334106502394,
      "mean_exposure_while_solvent": 0.9891552486454345,
      "realized_annual_volatility_pct": 46.056880969080524,
      "trading_costs_quote_units": 51.716752382002674,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35965.50737150297,
      "turnover_quote_units": 86194.58730333777,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 143,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33771.04260457543,
      "return_pct": 237.71042604575428,
      "cagr_pct": 44.269142689269295,
      "max_drawdown_pct": 40.01776777477664,
      "mean_exposure_while_solvent": 0.7497474023222125,
      "realized_annual_volatility_pct": 34.964539646581045,
      "trading_costs_quote_units": 70.15973614342592,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23841.20234071875,
      "turnover_quote_units": 116932.89357237662,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 46419.85795055069,
      "return_pct": 364.19857950550687,
      "cagr_pct": 58.774492372318335,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9995877422014566,
      "realized_annual_volatility_pct": 46.62797951899371,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36425.85435270929,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 58143.85162012376,
      "return_pct": 481.4385162012376,
      "cagr_pct": 69.91574445815473,
      "max_drawdown_pct": 58.69212472212051,
      "mean_exposure_while_solvent": 1.2494577913373075,
      "realized_annual_volatility_pct": 58.30645872181447,
      "trading_costs_quote_units": 207.28979068122177,
      "borrowing_costs_quote_units": 2201.6506357881162,
      "price_pnl_quote_units": 50552.79204659267,
      "turnover_quote_units": 345482.98446870345,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 69475.35927514583,
      "return_pct": 594.7535927514583,
      "cagr_pct": 79.27551719022745,
      "max_drawdown_pct": 66.11152609465422,
      "mean_exposure_while_solvent": 1.4993767601750152,
      "realized_annual_volatility_pct": 70.00563677883875,
      "trading_costs_quote_units": 625.7102933312017,
      "borrowing_costs_quote_units": 5678.809210047859,
      "price_pnl_quote_units": 65779.8787785252,
      "turnover_quote_units": 1042850.4888853368,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 45248.822025840775,
      "return_pct": 352.48822025840775,
      "cagr_pct": 57.55745789054103,
      "max_drawdown_pct": 55.050363448959814,
      "mean_exposure_while_solvent": 0.9483164876935666,
      "realized_annual_volatility_pct": 42.49032478236167,
      "trading_costs_quote_units": 593.7563259043825,
      "borrowing_costs_quote_units": 1120.9260615123355,
      "price_pnl_quote_units": 36963.50441325774,
      "turnover_quote_units": 989593.8765073057,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 68330.92098439563,
      "return_pct": 583.3092098439564,
      "cagr_pct": 78.38100205250053,
      "max_drawdown_pct": 60.57411763845346,
      "mean_exposure_while_solvent": 1.294127107274384,
      "realized_annual_volatility_pct": 58.68211851960582,
      "trading_costs_quote_units": 827.1721442655155,
      "borrowing_costs_quote_units": 5871.071782407632,
      "price_pnl_quote_units": 65029.1649110692,
      "turnover_quote_units": 1378620.240442526,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 71933.92606853624,
      "return_pct": 619.3392606853623,
      "cagr_pct": 81.16291773058508,
      "max_drawdown_pct": 61.16174515273667,
      "mean_exposure_while_solvent": 1.4435558353084026,
      "realized_annual_volatility_pct": 66.93206260723224,
      "trading_costs_quote_units": 735.2123473566238,
      "borrowing_costs_quote_units": 9331.364098725538,
      "price_pnl_quote_units": 72000.50251461845,
      "turnover_quote_units": 1225353.9122610393,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 56284.75400993436,
      "return_pct": 462.8475400993436,
      "cagr_pct": 68.26098392130623,
      "max_drawdown_pct": 60.76178869132329,
      "mean_exposure_while_solvent": 1.3053871872389804,
      "realized_annual_volatility_pct": 58.701459116736935,
      "trading_costs_quote_units": 1151.7085241912428,
      "borrowing_costs_quote_units": 5740.1808369365135,
      "price_pnl_quote_units": 53176.643371062506,
      "turnover_quote_units": 1919514.2069854038,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1200,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 68127.17514281583,
      "return_pct": 581.2717514281583,
      "cagr_pct": 78.22065455151362,
      "max_drawdown_pct": 60.72860524799507,
      "mean_exposure_while_solvent": 1.279670064006069,
      "realized_annual_volatility_pct": 58.578787908903095,
      "trading_costs_quote_units": 556.1733971717813,
      "borrowing_costs_quote_units": 5475.389240096251,
      "price_pnl_quote_units": 64158.73778008369,
      "turnover_quote_units": 926955.661952969,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1154,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 45913.79061912107,
      "return_pct": 359.13790619121073,
      "cagr_pct": 58.2512103264873,
      "max_drawdown_pct": 49.957334106502394,
      "mean_exposure_while_solvent": 0.9891552486454345,
      "realized_annual_volatility_pct": 46.056880969080524,
      "trading_costs_quote_units": 51.716752382002674,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35965.50737150297,
      "turnover_quote_units": 86194.58730333777,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 143,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 33771.04260457543,
      "return_pct": 237.71042604575428,
      "cagr_pct": 44.269142689269295,
      "max_drawdown_pct": 40.01776777477664,
      "mean_exposure_while_solvent": 0.7497474023222125,
      "realized_annual_volatility_pct": 34.964539646581045,
      "trading_costs_quote_units": 70.15973614342592,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23841.20234071875,
      "turnover_quote_units": 116932.89357237662,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 46419.85795055069,
      "return_pct": 364.19857950550687,
      "cagr_pct": 58.774492372318335,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9995877422014566,
      "realized_annual_volatility_pct": 46.62797951899371,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36425.85435270929,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 55782.740097835434,
      "return_pct": 457.8274009783543,
      "cagr_pct": 67.80761080590712,
      "max_drawdown_pct": 58.865744482623924,
      "mean_exposure_while_solvent": 1.249475600418303,
      "realized_annual_volatility_pct": 58.307416289575464,
      "trading_costs_quote_units": 202.203729552113,
      "borrowing_costs_quote_units": 4291.349405305308,
      "price_pnl_quote_units": 50276.293232692646,
      "turnover_quote_units": 337006.21592018806,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 63946.99676976094,
      "return_pct": 539.4699676976094,
      "cagr_pct": 74.8542616597528,
      "max_drawdown_pct": 66.39629689453774,
      "mean_exposure_while_solvent": 1.49941951654933,
      "realized_annual_volatility_pct": 70.00794466760325,
      "trading_costs_quote_units": 594.6915988205837,
      "borrowing_costs_quote_units": 10781.021526487184,
      "price_pnl_quote_units": 65322.709895068496,
      "turnover_quote_units": 991152.6647009721,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 44105.140565742615,
      "return_pct": 341.0514056574262,
      "cagr_pct": 56.34741715398845,
      "max_drawdown_pct": 55.15529492198754,
      "mean_exposure_while_solvent": 0.9483280742815765,
      "realized_annual_volatility_pct": 42.49055270337649,
      "trading_costs_quote_units": 584.9201909204638,
      "borrowing_costs_quote_units": 2205.0490589968467,
      "price_pnl_quote_units": 36895.10981565992,
      "turnover_quote_units": 974866.9848674405,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 61755.48258237502,
      "return_pct": 517.5548258237502,
      "cagr_pct": 73.02758648341232,
      "max_drawdown_pct": 60.95159589766064,
      "mean_exposure_while_solvent": 1.29417690077406,
      "realized_annual_volatility_pct": 58.68398429889855,
      "trading_costs_quote_units": 776.6225421600903,
      "borrowing_costs_quote_units": 10988.400293625791,
      "price_pnl_quote_units": 63520.50541816097,
      "turnover_quote_units": 1294370.903600151,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 62079.56168591488,
      "return_pct": 520.7956168591488,
      "cagr_pct": 73.30053782138467,
      "max_drawdown_pct": 61.65219341461802,
      "mean_exposure_while_solvent": 1.4436305695115852,
      "realized_annual_volatility_pct": 66.93571375578583,
      "trading_costs_quote_units": 670.7831898293996,
      "borrowing_costs_quote_units": 16991.94199641052,
      "price_pnl_quote_units": 69742.28687215544,
      "turnover_quote_units": 1117971.9830489983,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 50531.81915707825,
      "return_pct": 405.3181915707826,
      "cagr_pct": 62.88519808555553,
      "max_drawdown_pct": 61.17248560560924,
      "mean_exposure_while_solvent": 1.3054406294104706,
      "realized_annual_volatility_pct": 58.70403344431181,
      "trading_costs_quote_units": 1080.1216185548178,
      "borrowing_costs_quote_units": 10721.78499410725,
      "price_pnl_quote_units": 52333.72576973964,
      "turnover_quote_units": 1800202.6975913611,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1200,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 62041.46049206386,
      "return_pct": 520.4146049206386,
      "cagr_pct": 73.26849932596598,
      "max_drawdown_pct": 61.011627492514094,
      "mean_exposure_while_solvent": 1.2797157275794455,
      "realized_annual_volatility_pct": 58.58060071742278,
      "trading_costs_quote_units": 523.13335440253,
      "borrowing_costs_quote_units": 10293.372815076758,
      "price_pnl_quote_units": 62857.96666154345,
      "turnover_quote_units": 871888.9240042173,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1154,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 45913.79061912107,
      "return_pct": 359.13790619121073,
      "cagr_pct": 58.2512103264873,
      "max_drawdown_pct": 49.957334106502394,
      "mean_exposure_while_solvent": 0.9891552486454345,
      "realized_annual_volatility_pct": 46.056880969080524,
      "trading_costs_quote_units": 51.716752382002674,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35965.50737150297,
      "turnover_quote_units": 86194.58730333777,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 143,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33771.04260457543,
      "return_pct": 237.71042604575428,
      "cagr_pct": 44.269142689269295,
      "max_drawdown_pct": 40.01776777477664,
      "mean_exposure_while_solvent": 0.7497474023222125,
      "realized_annual_volatility_pct": 34.964539646581045,
      "trading_costs_quote_units": 70.15973614342592,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23841.20234071875,
      "turnover_quote_units": 116932.89357237662,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 46419.85795055069,
      "return_pct": 364.19857950550687,
      "cagr_pct": 58.774492372318335,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9995877422014566,
      "realized_annual_volatility_pct": 46.62797951899371,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36425.85435270929,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 51343.26657974985,
      "return_pct": 413.43266579749843,
      "cagr_pct": 63.66852760424659,
      "max_drawdown_pct": 59.21087437057785,
      "mean_exposure_while_solvent": 1.249511224065706,
      "realized_annual_volatility_pct": 58.309331759228286,
      "trading_costs_quote_units": 192.51369341415923,
      "borrowing_costs_quote_units": 8154.12384298101,
      "price_pnl_quote_units": 49689.90411614522,
      "turnover_quote_units": 320856.15569026605,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 54172.40309321151,
      "return_pct": 441.72403093211517,
      "cagr_pct": 66.33377592092131,
      "max_drawdown_pct": 66.95883280164995,
      "mean_exposure_while_solvent": 1.4995050478443739,
      "realized_annual_volatility_pct": 70.01256164725594,
      "trading_costs_quote_units": 537.9431401702311,
      "borrowing_costs_quote_units": 19449.19729082949,
      "price_pnl_quote_units": 64159.54352421106,
      "turnover_quote_units": 896571.900283718,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 42395.57260431913,
      "return_pct": 323.9557260431913,
      "cagr_pct": 54.4970820261937,
      "max_drawdown_pct": 55.11875931311536,
      "mean_exposure_while_solvent": 0.9486745960907408,
      "realized_annual_volatility_pct": 42.42839524076162,
      "trading_costs_quote_units": 2870.463274569269,
      "borrowing_costs_quote_units": 534.6379462931997,
      "price_pnl_quote_units": 35800.67382518173,
      "turnover_quote_units": 956821.091523087,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 66192.47741935306,
      "return_pct": 561.9247741935305,
      "cagr_pct": 76.6810892783914,
      "max_drawdown_pct": 60.996616451443295,
      "mean_exposure_while_solvent": 1.2946230108336751,
      "realized_annual_volatility_pct": 58.55915474685762,
      "trading_costs_quote_units": 4097.709564948555,
      "borrowing_costs_quote_units": 2893.6349004020776,
      "price_pnl_quote_units": 63183.82188470365,
      "turnover_quote_units": 1365903.1883161813,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 72184.65462632469,
      "return_pct": 621.8465462632469,
      "cagr_pct": 81.3528506424464,
      "max_drawdown_pct": 61.64740737806377,
      "mean_exposure_while_solvent": 1.4439584457706476,
      "realized_annual_volatility_pct": 66.86219315320234,
      "trading_costs_quote_units": 3772.6107497706594,
      "borrowing_costs_quote_units": 4703.316087442186,
      "price_pnl_quote_units": 70660.5814635373,
      "turnover_quote_units": 1257536.9165902208,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 52244.56879042601,
      "return_pct": 422.4456879042601,
      "cagr_pct": 64.52852159424872,
      "max_drawdown_pct": 60.893046930097874,
      "mean_exposure_while_solvent": 1.30595034342053,
      "realized_annual_volatility_pct": 58.532824363242774,
      "trading_costs_quote_units": 5494.805158495609,
      "borrowing_costs_quote_units": 2713.171409248853,
      "price_pnl_quote_units": 50452.5453581705,
      "turnover_quote_units": 1831601.719498537,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1200,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 66355.43710866472,
      "return_pct": 563.5543710866472,
      "cagr_pct": 76.81197054210129,
      "max_drawdown_pct": 61.2271984728074,
      "mean_exposure_while_solvent": 1.2800753114670589,
      "realized_annual_volatility_pct": 58.50170314889014,
      "trading_costs_quote_units": 2823.9060370198786,
      "borrowing_costs_quote_units": 2715.8813859604916,
      "price_pnl_quote_units": 61895.224531645224,
      "turnover_quote_units": 941302.0123399593,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1154,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 45387.39382077015,
      "return_pct": 353.8739382077015,
      "cagr_pct": 57.70261270790928,
      "max_drawdown_pct": 49.957334106502394,
      "mean_exposure_while_solvent": 0.9894439620592954,
      "realized_annual_volatility_pct": 46.054471728293635,
      "trading_costs_quote_units": 254.89094193276932,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35642.284762702955,
      "turnover_quote_units": 84963.64731092307,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 143,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 33465.31819561159,
      "return_pct": 234.65318195611587,
      "cagr_pct": 43.8745701246496,
      "max_drawdown_pct": 40.09358676575704,
      "mean_exposure_while_solvent": 0.749963044394577,
      "realized_annual_volatility_pct": 34.975363023353324,
      "trading_costs_quote_units": 357.51745248070034,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23822.835648092405,
      "turnover_quote_units": 119172.4841602335,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 46406.496394944596,
      "return_pct": 364.064963949446,
      "cagr_pct": 58.76072767281466,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9998625807338188,
      "realized_annual_volatility_pct": 46.62837660273919,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36436.40666413701,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 57180.39479500723,
      "return_pct": 471.80394795007237,
      "cagr_pct": 69.06287565748177,
      "max_drawdown_pct": 58.73408544111467,
      "mean_exposure_while_solvent": 1.2497718700693117,
      "realized_annual_volatility_pct": 58.29097422769409,
      "trading_costs_quote_units": 1050.1396588703276,
      "borrowing_costs_quote_units": 2178.6012308087024,
      "price_pnl_quote_units": 50409.13568468668,
      "turnover_quote_units": 350046.55295677565,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 66802.41175436016,
      "return_pct": 568.0241175436016,
      "cagr_pct": 77.16980949167687,
      "max_drawdown_pct": 66.1928715534282,
      "mean_exposure_while_solvent": 1.4997017714172576,
      "realized_annual_volatility_pct": 69.96756029564337,
      "trading_costs_quote_units": 3126.255575924838,
      "borrowing_costs_quote_units": 5540.5714808226085,
      "price_pnl_quote_units": 65469.23881110793,
      "turnover_quote_units": 1042085.1919749447,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 41856.22760726435,
      "return_pct": 318.5622760726435,
      "cagr_pct": 53.90252191169247,
      "max_drawdown_pct": 55.170236818487886,
      "mean_exposure_while_solvent": 0.9486803926072253,
      "realized_annual_volatility_pct": 42.42865080064802,
      "trading_costs_quote_units": 2849.20255488595,
      "borrowing_costs_quote_units": 1060.506474620172,
      "price_pnl_quote_units": 35765.936636770595,
      "turnover_quote_units": 949734.1849619832,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 62926.14804633854,
      "return_pct": 529.2614804633854,
      "cagr_pct": 74.00889636296996,
      "max_drawdown_pct": 61.18387575182111,
      "mean_exposure_while_solvent": 1.2946479287127097,
      "realized_annual_volatility_pct": 58.560504655694736,
      "trading_costs_quote_units": 3970.304510194485,
      "borrowing_costs_quote_units": 5598.523271497337,
      "price_pnl_quote_units": 62494.975828029914,
      "turnover_quote_units": 1323434.8367314984,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 67057.55404848052,
      "return_pct": 570.5755404848053,
      "cagr_pct": 77.37332166895973,
      "max_drawdown_pct": 61.890638992069256,
      "mean_exposure_while_solvent": 1.4439958219786813,
      "realized_annual_volatility_pct": 66.8646671448832,
      "trading_costs_quote_units": 3603.4847112311695,
      "borrowing_costs_quote_units": 8974.115839463953,
      "price_pnl_quote_units": 69635.15459917531,
      "turnover_quote_units": 1201161.570410391,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 49501.477847833616,
      "return_pct": 395.0147784783361,
      "cagr_pct": 61.87778840092317,
      "max_drawdown_pct": 61.09791248335724,
      "mean_exposure_while_solvent": 1.3059770950079492,
      "realized_annual_volatility_pct": 58.5345643649884,
      "trading_costs_quote_units": 5321.882494535226,
      "borrowing_costs_quote_units": 5244.925469596217,
      "price_pnl_quote_units": 50068.285811965245,
      "turnover_quote_units": 1773960.8315117427,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1200,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 63321.73959624799,
      "return_pct": 533.2173959624799,
      "cagr_pct": 74.33761531547427,
      "max_drawdown_pct": 61.36729682659844,
      "mean_exposure_while_solvent": 1.28009815142703,
      "realized_annual_volatility_pct": 58.5030321574872,
      "trading_costs_quote_units": 2738.9788077339254,
      "borrowing_costs_quote_units": 5266.1775554074975,
      "price_pnl_quote_units": 61326.89595938965,
      "turnover_quote_units": 912992.9359113098,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1154,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 45387.39382077015,
      "return_pct": 353.8739382077015,
      "cagr_pct": 57.70261270790928,
      "max_drawdown_pct": 49.957334106502394,
      "mean_exposure_while_solvent": 0.9894439620592954,
      "realized_annual_volatility_pct": 46.054471728293635,
      "trading_costs_quote_units": 254.89094193276932,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35642.284762702955,
      "turnover_quote_units": 84963.64731092307,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 143,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33465.31819561159,
      "return_pct": 234.65318195611587,
      "cagr_pct": 43.8745701246496,
      "max_drawdown_pct": 40.09358676575704,
      "mean_exposure_while_solvent": 0.749963044394577,
      "realized_annual_volatility_pct": 34.975363023353324,
      "trading_costs_quote_units": 357.51745248070034,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23822.835648092405,
      "turnover_quote_units": 119172.4841602335,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 46406.496394944596,
      "return_pct": 364.064963949446,
      "cagr_pct": 58.76072767281466,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9998625807338188,
      "realized_annual_volatility_pct": 46.62837660273919,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36436.40666413701,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 54857.64250898664,
      "return_pct": 448.5764250898664,
      "cagr_pct": 66.96462237855461,
      "max_drawdown_pct": 58.907661004874726,
      "mean_exposure_while_solvent": 1.249789682597744,
      "realized_annual_volatility_pct": 58.29222944523451,
      "trading_costs_quote_units": 1024.9694280963276,
      "borrowing_costs_quote_units": 4246.51593219406,
      "price_pnl_quote_units": 50129.12786927688,
      "turnover_quote_units": 341656.47603210947,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 61484.79909909112,
      "return_pct": 514.8479909909112,
      "cagr_pct": 72.79883865244392,
      "max_drawdown_pct": 66.47722723438298,
      "mean_exposure_while_solvent": 1.4997445302613661,
      "realized_annual_volatility_pct": 69.97057961033651,
      "trading_costs_quote_units": 2973.942314671856,
      "borrowing_costs_quote_units": 10519.828805911384,
      "price_pnl_quote_units": 64978.570219674744,
      "turnover_quote_units": 991314.1048906179,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 40797.73094563737,
      "return_pct": 307.9773094563737,
      "cagr_pct": 52.719914884132905,
      "max_drawdown_pct": 55.27303885163637,
      "mean_exposure_while_solvent": 0.9486919876626654,
      "realized_annual_volatility_pct": 42.42917686254733,
      "trading_costs_quote_units": 2807.2382609598735,
      "borrowing_costs_quote_units": 2086.412625180225,
      "price_pnl_quote_units": 35691.381831777435,
      "turnover_quote_units": 935746.0869866256,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 56867.307210950356,
      "return_pct": 468.6730721095036,
      "cagr_pct": 68.78356420363096,
      "max_drawdown_pct": 61.55583656030807,
      "mean_exposure_while_solvent": 1.294697774531841,
      "realized_annual_volatility_pct": 58.56322785990078,
      "trading_costs_quote_units": 3728.8724398184295,
      "borrowing_costs_quote_units": 10482.703877679027,
      "price_pnl_quote_units": 61078.88352844791,
      "turnover_quote_units": 1242957.479939477,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 57867.2764553107,
      "return_pct": 478.67276455310696,
      "cagr_pct": 69.67193233290223,
      "max_drawdown_pct": 62.37265759533215,
      "mean_exposure_while_solvent": 1.4440705902072881,
      "realized_annual_volatility_pct": 66.86962339299102,
      "trading_costs_quote_units": 3290.7494280353326,
      "borrowing_costs_quote_units": 16349.525629695898,
      "price_pnl_quote_units": 67507.55151304172,
      "turnover_quote_units": 1096916.4760117796,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 44438.279631620906,
      "return_pct": 344.382796316209,
      "cagr_pct": 56.70212705356368,
      "max_drawdown_pct": 61.504571499414816,
      "mean_exposure_while_solvent": 1.3060306091144347,
      "realized_annual_volatility_pct": 58.538067124316605,
      "trading_costs_quote_units": 4994.775553295235,
      "borrowing_costs_quote_units": 9804.725800284592,
      "price_pnl_quote_units": 49237.78098520054,
      "turnover_quote_units": 1664925.1844317452,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1200,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 57662.43495911532,
      "return_pct": 476.62434959115325,
      "cagr_pct": 69.49083088204023,
      "max_drawdown_pct": 61.64607897932994,
      "mean_exposure_while_solvent": 1.2801438404405898,
      "realized_annual_volatility_pct": 58.5057140761118,
      "trading_costs_quote_units": 2577.7539558442063,
      "borrowing_costs_quote_units": 9903.294696625013,
      "price_pnl_quote_units": 60143.48361158485,
      "turnover_quote_units": 859251.3186147357,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1154,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 45387.39382077015,
      "return_pct": 353.8739382077015,
      "cagr_pct": 57.70261270790928,
      "max_drawdown_pct": 49.957334106502394,
      "mean_exposure_while_solvent": 0.9894439620592954,
      "realized_annual_volatility_pct": 46.054471728293635,
      "trading_costs_quote_units": 254.89094193276932,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35642.284762702955,
      "turnover_quote_units": 84963.64731092307,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 143,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 33465.31819561159,
      "return_pct": 234.65318195611587,
      "cagr_pct": 43.8745701246496,
      "max_drawdown_pct": 40.09358676575704,
      "mean_exposure_while_solvent": 0.749963044394577,
      "realized_annual_volatility_pct": 34.975363023353324,
      "trading_costs_quote_units": 357.51745248070034,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23822.835648092405,
      "turnover_quote_units": 119172.4841602335,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 46406.496394944596,
      "return_pct": 364.064963949446,
      "cagr_pct": 58.76072767281466,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9998625807338188,
      "realized_annual_volatility_pct": 46.62837660273919,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36436.40666413701,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 50490.23585808066,
      "return_pct": 404.9023585808066,
      "cagr_pct": 62.84481963520945,
      "max_drawdown_pct": 59.252720288926675,
      "mean_exposure_while_solvent": 1.249825313140933,
      "realized_annual_volatility_pct": 58.29474016234213,
      "trading_costs_quote_units": 976.8972406632893,
      "borrowing_costs_quote_units": 8069.279619624843,
      "price_pnl_quote_units": 49536.412718368505,
      "turnover_quote_units": 325632.41355442954,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 52082.899865563144,
      "return_pct": 420.82899865563144,
      "cagr_pct": 64.37502955400119,
      "max_drawdown_pct": 67.10070880096201,
      "mean_exposure_while_solvent": 1.4998300664940496,
      "realized_annual_volatility_pct": 69.97661946107945,
      "trading_costs_quote_units": 2694.7200805036982,
      "borrowing_costs_quote_units": 18982.530314337328,
      "price_pnl_quote_units": 63760.15026040437,
      "turnover_quote_units": 898240.0268345656,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 43169.6963478687,
      "return_pct": 331.69696347868705,
      "cagr_pct": 55.341287067530985,
      "max_drawdown_pct": 55.27823412019819,
      "mean_exposure_while_solvent": 0.9483106954103314,
      "realized_annual_volatility_pct": 42.48813203213116,
      "trading_costs_quote_units": 2880.5421143101994,
      "borrowing_costs_quote_units": 541.9261370247999,
      "price_pnl_quote_units": 36592.16459920402,
      "turnover_quote_units": 960180.7047700656,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 67778.57660343326,
      "return_pct": 577.7857660343327,
      "cagr_pct": 77.94552934902661,
      "max_drawdown_pct": 60.61749977531101,
      "mean_exposure_while_solvent": 1.2941022155492394,
      "realized_annual_volatility_pct": 58.67853263389592,
      "trading_costs_quote_units": 4111.558632321042,
      "borrowing_costs_quote_units": 2916.5090530446796,
      "price_pnl_quote_units": 64806.64428879879,
      "turnover_quote_units": 1370519.5441070125,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 73800.79150484754,
      "return_pct": 638.0079150484754,
      "cagr_pct": 82.56617964672787,
      "max_drawdown_pct": 61.111680085077815,
      "mean_exposure_while_solvent": 1.4435184761098507,
      "realized_annual_volatility_pct": 66.92949408074381,
      "trading_costs_quote_units": 3733.6433254579542,
      "borrowing_costs_quote_units": 4739.441675320394,
      "price_pnl_quote_units": 72273.87650562575,
      "turnover_quote_units": 1244547.775152653,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 54245.88095441119,
      "return_pct": 442.4588095441119,
      "cagr_pct": 66.40168724971949,
      "max_drawdown_pct": 61.032623073868564,
      "mean_exposure_while_solvent": 1.3053604716091975,
      "realized_annual_volatility_pct": 58.69779942761662,
      "trading_costs_quote_units": 5623.048276581474,
      "borrowing_costs_quote_units": 2797.552196843353,
      "price_pnl_quote_units": 52666.48142783569,
      "turnover_quote_units": 1874349.4255271566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1200,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 68624.98034349992,
      "return_pct": 586.2498034349992,
      "cagr_pct": 78.6118380145721,
      "max_drawdown_pct": 60.74084845261443,
      "mean_exposure_while_solvent": 1.2796472367645635,
      "realized_annual_volatility_pct": 58.57608074096095,
      "trading_costs_quote_units": 2794.465450096353,
      "borrowing_costs_quote_units": 2750.0507505499368,
      "price_pnl_quote_units": 64169.49654414664,
      "turnover_quote_units": 931488.4833654494,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1154,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 45572.07671427915,
      "return_pct": 355.7207671427915,
      "cagr_pct": 57.895588533904,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9891552486454345,
      "realized_annual_volatility_pct": 46.05672204237352,
      "trading_costs_quote_units": 257.30304550639175,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35829.37975978553,
      "turnover_quote_units": 85767.68183546387,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 143,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33405.03465612158,
      "return_pct": 234.05034656121578,
      "cagr_pct": 43.79647022429915,
      "max_drawdown_pct": 40.07419957037587,
      "mean_exposure_while_solvent": 0.7497474023222125,
      "realized_annual_volatility_pct": 34.96466487199916,
      "trading_costs_quote_units": 348.46217063959267,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23753.49682676115,
      "turnover_quote_units": 116154.05687986412,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 46308.78351477669,
      "return_pct": 363.0878351477669,
      "cagr_pct": 58.65998232377032,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9995877422014566,
      "realized_annual_volatility_pct": 46.628290384519204,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36338.69378396905,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 57098.220775094305,
      "return_pct": 470.9822077509431,
      "cagr_pct": 68.98967028720318,
      "max_drawdown_pct": 58.757748897798564,
      "mean_exposure_while_solvent": 1.2494577913373075,
      "realized_annual_volatility_pct": 58.30685324542888,
      "trading_costs_quote_units": 1024.0936500972985,
      "borrowing_costs_quote_units": 2174.5049294388587,
      "price_pnl_quote_units": 50296.81935463098,
      "turnover_quote_units": 341364.5500324327,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 66752.83010395043,
      "return_pct": 567.5283010395043,
      "cagr_pct": 77.13019807995852,
      "max_drawdown_pct": 66.24136618004532,
      "mean_exposure_while_solvent": 1.4993767601750152,
      "realized_annual_volatility_pct": 70.00635580471216,
      "trading_costs_quote_units": 3049.0122993198356,
      "borrowing_costs_quote_units": 5530.63135115957,
      "price_pnl_quote_units": 65332.47375442947,
      "turnover_quote_units": 1016337.4331066122,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 42620.758455545474,
      "return_pct": 326.20758455545473,
      "cagr_pct": 54.74375729369159,
      "max_drawdown_pct": 55.33054273326125,
      "mean_exposure_while_solvent": 0.9483164876935666,
      "realized_annual_volatility_pct": 42.48823958882199,
      "trading_costs_quote_units": 2859.098194810272,
      "borrowing_costs_quote_units": 1074.9477912099912,
      "price_pnl_quote_units": 36554.80444156555,
      "turnover_quote_units": 953032.7316034242,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 64435.93220985584,
      "return_pct": 544.3593220985584,
      "cagr_pct": 75.25581186687272,
      "max_drawdown_pct": 60.80654209688784,
      "mean_exposure_while_solvent": 1.294127107274384,
      "realized_annual_volatility_pct": 58.67946563814358,
      "trading_costs_quote_units": 3983.646450847402,
      "borrowing_costs_quote_units": 5642.497881564964,
      "price_pnl_quote_units": 64062.076542268056,
      "turnover_quote_units": 1327882.1502824677,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 68561.39923956234,
      "return_pct": 585.6139923956234,
      "cagr_pct": 78.56198564332031,
      "max_drawdown_pct": 61.35800467107375,
      "mean_exposure_while_solvent": 1.4435558353084026,
      "realized_annual_volatility_pct": 66.9313385016988,
      "trading_costs_quote_units": 3565.200827705481,
      "borrowing_costs_quote_units": 9042.505411535089,
      "price_pnl_quote_units": 71169.10547880286,
      "turnover_quote_units": 1188400.2759018273,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 51399.56419431635,
      "return_pct": 413.9956419431635,
      "cagr_pct": 63.72255256356536,
      "max_drawdown_pct": 61.2371157181427,
      "mean_exposure_while_solvent": 1.3053871872389804,
      "realized_annual_volatility_pct": 58.699086865931804,
      "trading_costs_quote_units": 5445.509615818277,
      "borrowing_costs_quote_units": 5407.26093568581,
      "price_pnl_quote_units": 52252.334745820495,
      "turnover_quote_units": 1815169.871939426,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1200,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 65489.567268437066,
      "return_pct": 554.8956726843707,
      "cagr_pct": 76.11395150181947,
      "max_drawdown_pct": 60.88251941899961,
      "mean_exposure_while_solvent": 1.279670064006069,
      "realized_annual_volatility_pct": 58.57698808186013,
      "trading_costs_quote_units": 2709.823856520718,
      "borrowing_costs_quote_units": 5332.100514232062,
      "price_pnl_quote_units": 63531.491639189495,
      "turnover_quote_units": 903274.6188402398,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1154,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 45572.07671427915,
      "return_pct": 355.7207671427915,
      "cagr_pct": 57.895588533904,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9891552486454345,
      "realized_annual_volatility_pct": 46.05672204237352,
      "trading_costs_quote_units": 257.30304550639175,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35829.37975978553,
      "turnover_quote_units": 85767.68183546387,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 143,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 33405.03465612158,
      "return_pct": 234.05034656121578,
      "cagr_pct": 43.79647022429915,
      "max_drawdown_pct": 40.07419957037587,
      "mean_exposure_while_solvent": 0.7497474023222125,
      "realized_annual_volatility_pct": 34.96466487199916,
      "trading_costs_quote_units": 348.46217063959267,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23753.49682676115,
      "turnover_quote_units": 116154.05687986412,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 46308.78351477669,
      "return_pct": 363.0878351477669,
      "cagr_pct": 58.65998232377032,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9995877422014566,
      "realized_annual_volatility_pct": 46.628290384519204,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36338.69378396905,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 54779.72612581719,
      "return_pct": 447.7972612581719,
      "cagr_pct": 66.8931693133496,
      "max_drawdown_pct": 58.93115922769301,
      "mean_exposure_while_solvent": 1.249475600418303,
      "realized_annual_volatility_pct": 58.307824670823635,
      "trading_costs_quote_units": 999.0327178388459,
      "borrowing_costs_quote_units": 4238.603037992237,
      "price_pnl_quote_units": 50017.36188164771,
      "turnover_quote_units": 333010.90594628174,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 61441.35660389437,
      "return_pct": 514.4135660389437,
      "cagr_pct": 72.76206098561211,
      "max_drawdown_pct": 66.52518585136251,
      "mean_exposure_while_solvent": 1.49941951654933,
      "realized_annual_volatility_pct": 70.00869744128939,
      "trading_costs_quote_units": 2898.448475255306,
      "borrowing_costs_quote_units": 10501.473736240932,
      "price_pnl_quote_units": 64841.27881539023,
      "turnover_quote_units": 966149.4917517676,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 41543.4294018438,
      "return_pct": 315.434294018438,
      "cagr_pct": 53.55524460235082,
      "max_drawdown_pct": 55.43500103124085,
      "mean_exposure_while_solvent": 0.9483280742815765,
      "realized_annual_volatility_pct": 42.48846909203273,
      "trading_costs_quote_units": 2816.8021785092055,
      "borrowing_costs_quote_units": 2114.7635990885415,
      "price_pnl_quote_units": 36474.9951794417,
      "turnover_quote_units": 938934.0595030675,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 58235.16798733584,
      "return_pct": 482.35167987335836,
      "cagr_pct": 69.9960655062227,
      "max_drawdown_pct": 61.182006104575805,
      "mean_exposure_while_solvent": 1.29417690077406,
      "realized_annual_volatility_pct": 58.68135451719022,
      "trading_costs_quote_units": 3741.4018505476115,
      "borrowing_costs_quote_units": 10563.952688994494,
      "price_pnl_quote_units": 62540.52252687805,
      "turnover_quote_units": 1247133.9501825408,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 59169.122304871315,
      "return_pct": 491.69122304871314,
      "cagr_pct": 70.81255324293625,
      "max_drawdown_pct": 61.846115957910875,
      "mean_exposure_while_solvent": 1.4436305695115852,
      "realized_annual_volatility_pct": 66.93503652333396,
      "trading_costs_quote_units": 3254.1108631785078,
      "borrowing_costs_quote_units": 16472.087206489494,
      "price_pnl_quote_units": 68895.32037453947,
      "turnover_quote_units": 1084703.6210595032,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1184,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 46145.58641007486,
      "return_pct": 361.4558641007486,
      "cagr_pct": 58.49138871387682,
      "max_drawdown_pct": 61.64299043778865,
      "mean_exposure_while_solvent": 1.3054406294104706,
      "realized_annual_volatility_pct": 58.70168464337462,
      "trading_costs_quote_units": 5109.816213376142,
      "borrowing_costs_quote_units": 10105.19502213299,
      "price_pnl_quote_units": 51360.59764558421,
      "turnover_quote_units": 1703272.0711253812,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1200,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 59640.15150282116,
      "return_pct": 496.4015150282115,
      "cagr_pct": 71.22092648252483,
      "max_drawdown_pct": 61.164403350776794,
      "mean_exposure_while_solvent": 1.2797157275794455,
      "realized_annual_volatility_pct": 58.5788263318466,
      "trading_costs_quote_units": 2549.4125436234926,
      "borrowing_costs_quote_units": 10025.986935617091,
      "price_pnl_quote_units": 62215.55098206205,
      "turnover_quote_units": 849804.1812078308,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1154,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 45572.07671427915,
      "return_pct": 355.7207671427915,
      "cagr_pct": 57.895588533904,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9891552486454345,
      "realized_annual_volatility_pct": 46.05672204237352,
      "trading_costs_quote_units": 257.30304550639175,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35829.37975978553,
      "turnover_quote_units": 85767.68183546387,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 143,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33405.03465612158,
      "return_pct": 234.05034656121578,
      "cagr_pct": 43.79647022429915,
      "max_drawdown_pct": 40.07419957037587,
      "mean_exposure_while_solvent": 0.7497474023222125,
      "realized_annual_volatility_pct": 34.96466487199916,
      "trading_costs_quote_units": 348.46217063959267,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23753.49682676115,
      "turnover_quote_units": 116154.05687986412,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 46308.78351477669,
      "return_pct": 363.0878351477669,
      "cagr_pct": 58.65998232377032,
      "max_drawdown_pct": 49.95733410650238,
      "mean_exposure_while_solvent": 0.9995877422014566,
      "realized_annual_volatility_pct": 46.628290384519204,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36338.69378396905,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 50420.1639364447,
      "return_pct": 404.2016393644469,
      "cagr_pct": 62.776725392082746,
      "max_drawdown_pct": 59.275871973185964,
      "mean_exposure_while_solvent": 1.249511224065706,
      "realized_annual_volatility_pct": 58.309768061045766,
      "trading_costs_quote_units": 951.2811141311466,
      "borrowing_costs_quote_units": 8054.506373189669,
      "price_pnl_quote_units": 49425.95142376531,
      "turnover_quote_units": 317093.70471038204,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 52049.68715634603,
      "return_pct": 420.49687156346033,
      "cagr_pct": 64.3434554608866,
      "max_drawdown_pct": 67.08583942936497,
      "mean_exposure_while_solvent": 1.4995050478443739,
      "realized_annual_volatility_pct": 70.0133824326104,
      "trading_costs_quote_units": 2622.922963838906,
      "borrowing_costs_quote_units": 18951.226220579963,
      "price_pnl_quote_units": 63623.83634076442,
      "turnover_quote_units": 874307.6546129711,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 46733.73225448008,
      "return_pct": 367.33732254480077,
      "cagr_pct": 59.09704337755437,
      "max_drawdown_pct": 53.78357136695286,
      "mean_exposure_while_solvent": 0.9517927399017074,
      "realized_annual_volatility_pct": 42.2886079397208,
      "trading_costs_quote_units": 612.1422027681575,
      "borrowing_costs_quote_units": 580.4536119583894,
      "price_pnl_quote_units": 37926.328069206844,
      "turnover_quote_units": 1020237.0046135961,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 65169.66581808988,
      "return_pct": 551.6966581808988,
      "cagr_pct": 75.8544322100663,
      "max_drawdown_pct": 63.96548375251623,
      "mean_exposure_while_solvent": 1.3079938712548118,
      "realized_annual_volatility_pct": 58.84938456821451,
      "trading_costs_quote_units": 847.9802333604803,
      "borrowing_costs_quote_units": 3164.245664791184,
      "price_pnl_quote_units": 59181.89171624203,
      "turnover_quote_units": 1413300.3889341347,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 67698.56253305072,
      "return_pct": 576.9856253305072,
      "cagr_pct": 77.88224018909634,
      "max_drawdown_pct": 65.93879234185238,
      "mean_exposure_while_solvent": 1.4592736941169941,
      "realized_annual_volatility_pct": 67.1144466649177,
      "trading_costs_quote_units": 714.0599732227518,
      "borrowing_costs_quote_units": 5029.579070978414,
      "price_pnl_quote_units": 63442.201577251166,
      "turnover_quote_units": 1190099.9553712534,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 55914.9228229479,
      "return_pct": 459.149228229479,
      "cagr_pct": 67.92726181144953,
      "max_drawdown_pct": 61.87456979726913,
      "mean_exposure_while_solvent": 1.3148482259300052,
      "realized_annual_volatility_pct": 58.57138279778543,
      "trading_costs_quote_units": 1151.6992714981254,
      "borrowing_costs_quote_units": 2972.7186911340996,
      "price_pnl_quote_units": 50039.3407855801,
      "turnover_quote_units": 1919498.7858302062,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 61912.03304713057,
      "return_pct": 519.1203304713057,
      "cagr_pct": 73.15956370450489,
      "max_drawdown_pct": 65.52115988987222,
      "mean_exposure_while_solvent": 1.3038661901202042,
      "realized_annual_volatility_pct": 59.25449042038843,
      "trading_costs_quote_units": 572.2680431546581,
      "borrowing_costs_quote_units": 3100.8067373820572,
      "price_pnl_quote_units": 55585.10782766759,
      "turnover_quote_units": 953780.071924431,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 45980.81154139976,
      "return_pct": 359.8081154139976,
      "cagr_pct": 58.320741891165476,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9901623957828597,
      "realized_annual_volatility_pct": 45.779717438035455,
      "trading_costs_quote_units": 48.46091164726669,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36029.27245304695,
      "turnover_quote_units": 80768.18607877777,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 139,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 33972.78404337102,
      "return_pct": 239.7278404337102,
      "cagr_pct": 44.528148060806885,
      "max_drawdown_pct": 39.93058453140416,
      "mean_exposure_while_solvent": 0.7499642907269567,
      "realized_annual_volatility_pct": 34.72935276746685,
      "trading_costs_quote_units": 71.61545444609138,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 24044.399497817103,
      "turnover_quote_units": 119359.09074348563,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 46789.32351919773,
      "return_pct": 367.8932351919773,
      "cagr_pct": 59.15401346250455,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9998625996152789,
      "realized_annual_volatility_pct": 46.300709788704694,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36795.31992135646,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 58728.88583529331,
      "return_pct": 487.2888583529331,
      "cagr_pct": 70.42881758013628,
      "max_drawdown_pct": 58.54207663150337,
      "mean_exposure_while_solvent": 1.2497692721563742,
      "realized_annual_volatility_pct": 57.88038647662257,
      "trading_costs_quote_units": 211.57685191224337,
      "borrowing_costs_quote_units": 2206.1450389080287,
      "price_pnl_quote_units": 51146.607726113405,
      "turnover_quote_units": 352628.08652040624,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 70353.74297361125,
      "return_pct": 603.5374297361125,
      "cagr_pct": 79.95511873871952,
      "max_drawdown_pct": 65.93649939737404,
      "mean_exposure_while_solvent": 1.4996948263994676,
      "realized_annual_volatility_pct": 69.47322736897307,
      "trading_costs_quote_units": 639.1539864205499,
      "borrowing_costs_quote_units": 5696.466281906856,
      "price_pnl_quote_units": 66689.36324193857,
      "turnover_quote_units": 1065256.6440342483,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 46120.04070724459,
      "return_pct": 361.2004070724459,
      "cagr_pct": 58.464960580859284,
      "max_drawdown_pct": 53.83860493990762,
      "mean_exposure_while_solvent": 0.9517987475966777,
      "realized_annual_volatility_pct": 42.28887677967816,
      "trading_costs_quote_units": 607.3895551133295,
      "borrowing_costs_quote_units": 1151.019587174762,
      "price_pnl_quote_units": 37878.44984953267,
      "turnover_quote_units": 1012315.9251888816,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 61823.60785340304,
      "return_pct": 518.2360785340304,
      "cagr_pct": 73.08504704160808,
      "max_drawdown_pct": 64.18956007592607,
      "mean_exposure_while_solvent": 1.3080197971477323,
      "realized_annual_volatility_pct": 58.85089425925726,
      "trading_costs_quote_units": 821.0327292974257,
      "borrowing_costs_quote_units": 6115.042325902873,
      "price_pnl_quote_units": 58759.68290860276,
      "turnover_quote_units": 1368387.8821623786,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 62729.99345399896,
      "return_pct": 527.2999345399896,
      "cagr_pct": 73.84536482955843,
      "max_drawdown_pct": 66.22510117799398,
      "mean_exposure_while_solvent": 1.4593124285326036,
      "realized_annual_volatility_pct": 67.1171055112667,
      "trading_costs_quote_units": 682.4431359296602,
      "borrowing_costs_quote_units": 9585.68522478593,
      "price_pnl_quote_units": 62998.12181471466,
      "turnover_quote_units": 1137405.2265494333,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 52909.067652539576,
      "return_pct": 429.0906765253958,
      "cagr_pct": 65.15594799898177,
      "max_drawdown_pct": 62.10419755818213,
      "mean_exposure_while_solvent": 1.314875645975009,
      "realized_annual_volatility_pct": 58.57319197920167,
      "trading_costs_quote_units": 1114.7180820326862,
      "borrowing_costs_quote_units": 5741.242660701955,
      "price_pnl_quote_units": 49765.02839527463,
      "turnover_quote_units": 1857863.4700544786,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 58852.41046959101,
      "return_pct": 488.52410469591,
      "cagr_pct": 70.53669114408613,
      "max_drawdown_pct": 65.74961826888286,
      "mean_exposure_while_solvent": 1.303890917128407,
      "realized_annual_volatility_pct": 59.25611356842736,
      "trading_costs_quote_units": 554.6598460650021,
      "borrowing_costs_quote_units": 6000.894123699444,
      "price_pnl_quote_units": 55407.96443935557,
      "turnover_quote_units": 924433.0767750024,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 45980.81154139976,
      "return_pct": 359.8081154139976,
      "cagr_pct": 58.320741891165476,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9901623957828597,
      "realized_annual_volatility_pct": 45.779717438035455,
      "trading_costs_quote_units": 48.46091164726669,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36029.27245304695,
      "turnover_quote_units": 80768.18607877777,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 139,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33972.78404337102,
      "return_pct": 239.7278404337102,
      "cagr_pct": 44.528148060806885,
      "max_drawdown_pct": 39.93058453140416,
      "mean_exposure_while_solvent": 0.7499642907269567,
      "realized_annual_volatility_pct": 34.72935276746685,
      "trading_costs_quote_units": 71.61545444609138,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 24044.399497817103,
      "turnover_quote_units": 119359.09074348563,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 46789.32351919773,
      "return_pct": 367.8932351919773,
      "cagr_pct": 59.15401346250455,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9998625996152789,
      "realized_annual_volatility_pct": 46.300709788704694,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36795.31992135646,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 56343.333851450305,
      "return_pct": 463.433338514503,
      "cagr_pct": 68.3137035166683,
      "max_drawdown_pct": 58.716387634899355,
      "mean_exposure_while_solvent": 1.2497870860761082,
      "realized_annual_volatility_pct": 57.88162047516137,
      "trading_costs_quote_units": 206.48794077488537,
      "borrowing_costs_quote_units": 4300.026561185801,
      "price_pnl_quote_units": 50849.848353411035,
      "turnover_quote_units": 344146.56795814226,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 64753.91127667201,
      "return_pct": 547.5391127667201,
      "cagr_pct": 75.51581855374079,
      "max_drawdown_pct": 66.24398374145525,
      "mean_exposure_while_solvent": 1.4997375883190815,
      "realized_annual_volatility_pct": 69.47619506609442,
      "trading_costs_quote_units": 607.8630091262183,
      "borrowing_costs_quote_units": 10813.87655669431,
      "price_pnl_quote_units": 66175.65084249238,
      "turnover_quote_units": 1013105.0152103628,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 44916.435229244766,
      "return_pct": 349.1643522924477,
      "cagr_pct": 57.20800993201007,
      "max_drawdown_pct": 53.948501462227426,
      "mean_exposure_while_solvent": 0.9518107650985562,
      "realized_annual_volatility_pct": 42.289430160627575,
      "trading_costs_quote_units": 598.0167660033627,
      "borrowing_costs_quote_units": 2263.048933374371,
      "price_pnl_quote_units": 37777.500928622685,
      "turnover_quote_units": 996694.610005604,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 55636.48084912605,
      "return_pct": 456.3648084912605,
      "cagr_pct": 67.6749866769631,
      "max_drawdown_pct": 64.63366656103308,
      "mean_exposure_while_solvent": 1.3080716593801864,
      "realized_annual_volatility_pct": 58.853934966349705,
      "trading_costs_quote_units": 770.0545890053974,
      "borrowing_costs_quote_units": 11423.746540796774,
      "price_pnl_quote_units": 57830.281978927946,
      "turnover_quote_units": 1283424.3150089928,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 53857.752834390565,
      "return_pct": 438.57752834390567,
      "cagr_pct": 66.04223268127667,
      "max_drawdown_pct": 66.79068966718577,
      "mean_exposure_while_solvent": 1.4593899137942472,
      "realized_annual_volatility_pct": 67.12242888881909,
      "trading_costs_quote_units": 624.0041535583566,
      "borrowing_costs_quote_units": 17424.549157027282,
      "price_pnl_quote_units": 61906.30614497597,
      "turnover_quote_units": 1040006.9225972628,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 47371.9906822997,
      "return_pct": 373.71990682299696,
      "cagr_pct": 59.74830541600642,
      "max_drawdown_pct": 62.55944057676805,
      "mean_exposure_while_solvent": 1.3149304972743572,
      "realized_annual_volatility_pct": 58.57683244578447,
      "trading_costs_quote_units": 1044.8612753522334,
      "borrowing_costs_quote_units": 10712.44546577573,
      "price_pnl_quote_units": 49129.29742342784,
      "turnover_quote_units": 1741435.458920389,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 53177.895643597214,
      "return_pct": 431.7789564359721,
      "cagr_pct": 65.40821368555127,
      "max_drawdown_pct": 66.20212037256313,
      "mean_exposure_while_solvent": 1.303940380983839,
      "realized_annual_volatility_pct": 59.25938059307833,
      "trading_costs_quote_units": 521.2596919537161,
      "borrowing_costs_quote_units": 11241.713706494074,
      "price_pnl_quote_units": 54940.869042044644,
      "turnover_quote_units": 868766.153256192,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 45980.81154139976,
      "return_pct": 359.8081154139976,
      "cagr_pct": 58.320741891165476,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9901623957828597,
      "realized_annual_volatility_pct": 45.779717438035455,
      "trading_costs_quote_units": 48.46091164726669,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36029.27245304695,
      "turnover_quote_units": 80768.18607877777,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 139,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 33972.78404337102,
      "return_pct": 239.7278404337102,
      "cagr_pct": 44.528148060806885,
      "max_drawdown_pct": 39.93058453140416,
      "mean_exposure_while_solvent": 0.7499642907269567,
      "realized_annual_volatility_pct": 34.72935276746685,
      "trading_costs_quote_units": 71.61545444609138,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 24044.399497817103,
      "turnover_quote_units": 119359.09074348563,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 46789.32351919773,
      "return_pct": 367.8932351919773,
      "cagr_pct": 59.15401346250455,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9998625996152789,
      "realized_annual_volatility_pct": 46.300709788704694,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36795.31992135646,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 51857.99957557214,
      "return_pct": 418.5799957557214,
      "cagr_pct": 64.16094950343252,
      "max_drawdown_pct": 59.06289932856055,
      "mean_exposure_while_solvent": 1.2498227194026454,
      "realized_annual_volatility_pct": 57.88408890010085,
      "trading_costs_quote_units": 196.7728263492659,
      "borrowing_costs_quote_units": 8170.2984193762295,
      "price_pnl_quote_units": 50225.07082129747,
      "turnover_quote_units": 327954.71058210963,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 54853.34150920494,
      "return_pct": 448.5334150920494,
      "cagr_pct": 66.96068000531372,
      "max_drawdown_pct": 66.89274929672652,
      "mean_exposure_while_solvent": 1.4998231307049579,
      "realized_annual_volatility_pct": 69.4821320052703,
      "trading_costs_quote_units": 550.5257067734138,
      "borrowing_costs_quote_units": 19506.06642048344,
      "price_pnl_quote_units": 64909.933636461705,
      "turnover_quote_units": 917542.8446223559,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 47733.87096520078,
      "return_pct": 377.33870965200776,
      "cagr_pct": 60.114838215316894,
      "max_drawdown_pct": 53.81540804669718,
      "mean_exposure_while_solvent": 0.9514293212722886,
      "realized_annual_volatility_pct": 42.356379089315375,
      "trading_costs_quote_units": 615.6393622549366,
      "borrowing_costs_quote_units": 588.6454707197393,
      "price_pnl_quote_units": 38938.155798175736,
      "turnover_quote_units": 1026065.6037582271,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 66247.97377035665,
      "return_pct": 562.4797377035665,
      "cagr_pct": 76.72568649677609,
      "max_drawdown_pct": 63.956020541949556,
      "mean_exposure_while_solvent": 1.307498966972974,
      "realized_annual_volatility_pct": 58.971824898530144,
      "trading_costs_quote_units": 849.9706811425705,
      "borrowing_costs_quote_units": 3190.659522720446,
      "price_pnl_quote_units": 60288.60397422004,
      "turnover_quote_units": 1416617.8019042837,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 68101.46751605297,
      "return_pct": 581.0146751605298,
      "cagr_pct": 78.200398909602,
      "max_drawdown_pct": 65.98342063127515,
      "mean_exposure_while_solvent": 1.4588605097308314,
      "realized_annual_volatility_pct": 67.1854343265407,
      "trading_costs_quote_units": 710.0918602955467,
      "borrowing_costs_quote_units": 5053.694521940855,
      "price_pnl_quote_units": 63865.253898289404,
      "turnover_quote_units": 1183486.4338259136,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 57862.22995904436,
      "return_pct": 478.62229959044356,
      "cagr_pct": 69.66747608590947,
      "max_drawdown_pct": 62.21422003083976,
      "mean_exposure_while_solvent": 1.3142745146501609,
      "realized_annual_volatility_pct": 58.743944689757264,
      "trading_costs_quote_units": 1181.1320572330387,
      "borrowing_costs_quote_units": 3068.9383795132844,
      "price_pnl_quote_units": 52112.30039579068,
      "turnover_quote_units": 1968553.4287217285,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 63162.22985025091,
      "return_pct": 531.622298502509,
      "cagr_pct": 74.20524297896513,
      "max_drawdown_pct": 65.58707368111149,
      "mean_exposure_while_solvent": 1.3034741352510943,
      "realized_annual_volatility_pct": 59.336046094662954,
      "trading_costs_quote_units": 566.6428467816417,
      "borrowing_costs_quote_units": 3137.2376517203447,
      "price_pnl_quote_units": 56866.11034875227,
      "turnover_quote_units": 944404.7446360694,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 46223.40836084156,
      "return_pct": 362.23408360841563,
      "cagr_pct": 58.57183591917412,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9898724255187619,
      "realized_annual_volatility_pct": 45.78363380871445,
      "trading_costs_quote_units": 48.904996778398726,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36272.313357619845,
      "turnover_quote_units": 81508.3279639979,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 139,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33908.61371885624,
      "return_pct": 239.08613718856242,
      "cagr_pct": 44.44587995679083,
      "max_drawdown_pct": 39.911896086919874,
      "mean_exposure_while_solvent": 0.7497390026495924,
      "realized_annual_volatility_pct": 34.717974537389296,
      "trading_costs_quote_units": 69.85100934941165,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23978.464728205654,
      "turnover_quote_units": 116418.34891568612,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 46697.3765771729,
      "return_pct": 366.973765771729,
      "cagr_pct": 59.05976035857727,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9995877988458368,
      "realized_annual_volatility_pct": 46.30062603209002,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36703.37297933163,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 58619.49412001288,
      "return_pct": 486.1949412001288,
      "cagr_pct": 70.33315377083827,
      "max_drawdown_pct": 58.565078640345945,
      "mean_exposure_while_solvent": 1.2494712904964986,
      "realized_annual_volatility_pct": 57.898924164669374,
      "trading_costs_quote_units": 206.40078006724787,
      "borrowing_costs_quote_units": 2201.3857850857266,
      "price_pnl_quote_units": 51027.280685165795,
      "turnover_quote_units": 344001.3001120806,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 70216.1433201028,
      "return_pct": 602.161433201028,
      "cagr_pct": 79.84905169465952,
      "max_drawdown_pct": 65.98362386751518,
      "mean_exposure_while_solvent": 1.4994083184955447,
      "realized_annual_volatility_pct": 69.51849804497733,
      "trading_costs_quote_units": 623.2237292475538,
      "borrowing_costs_quote_units": 5680.849943681547,
      "price_pnl_quote_units": 66520.2169930318,
      "turnover_quote_units": 1038706.2154125877,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 47107.27564665196,
      "return_pct": 371.0727564665196,
      "cagr_pct": 59.47894598279247,
      "max_drawdown_pct": 53.871452825017045,
      "mean_exposure_while_solvent": 0.9514353248923235,
      "realized_annual_volatility_pct": 42.3565054079646,
      "trading_costs_quote_units": 610.8409603319744,
      "borrowing_costs_quote_units": 1167.246007521934,
      "price_pnl_quote_units": 38885.36261450598,
      "turnover_quote_units": 1018068.2672199587,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 62848.18517210236,
      "return_pct": 528.4818517210236,
      "cagr_pct": 73.94394244494774,
      "max_drawdown_pct": 64.18016211203748,
      "mean_exposure_while_solvent": 1.3075248648538023,
      "realized_annual_volatility_pct": 58.97292803913422,
      "trading_costs_quote_units": 822.9669819185741,
      "borrowing_costs_quote_units": 6165.889538374162,
      "price_pnl_quote_units": 59837.041692395105,
      "turnover_quote_units": 1371611.6365309567,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 63104.9683940337,
      "return_pct": 531.049683940337,
      "cagr_pct": 74.15766643614847,
      "max_drawdown_pct": 66.26921788552471,
      "mean_exposure_while_solvent": 1.4588992222772275,
      "realized_annual_volatility_pct": 67.18748958133958,
      "trading_costs_quote_units": 678.422670658528,
      "borrowing_costs_quote_units": 9631.64323448161,
      "price_pnl_quote_units": 63415.034299174025,
      "turnover_quote_units": 1130704.451097548,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 54753.31832401235,
      "return_pct": 447.5331832401235,
      "cagr_pct": 66.86893597607299,
      "max_drawdown_pct": 62.44217929485376,
      "mean_exposure_while_solvent": 1.3143018978825474,
      "realized_annual_volatility_pct": 58.74530496115417,
      "trading_costs_quote_units": 1143.0990726432995,
      "borrowing_costs_quote_units": 5926.270030796754,
      "price_pnl_quote_units": 51822.6874274518,
      "turnover_quote_units": 1905165.121072165,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 60042.23727692609,
      "return_pct": 500.4223727692609,
      "cagr_pct": 71.56774758072338,
      "max_drawdown_pct": 65.81505523293856,
      "mean_exposure_while_solvent": 1.3034988459926145,
      "realized_annual_volatility_pct": 59.33725247987795,
      "trading_costs_quote_units": 549.0716571379695,
      "borrowing_costs_quote_units": 6071.155281245139,
      "price_pnl_quote_units": 56662.46421530939,
      "turnover_quote_units": 915119.4285632842,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 46223.40836084156,
      "return_pct": 362.23408360841563,
      "cagr_pct": 58.57183591917412,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9898724255187619,
      "realized_annual_volatility_pct": 45.78363380871445,
      "trading_costs_quote_units": 48.904996778398726,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36272.313357619845,
      "turnover_quote_units": 81508.3279639979,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 139,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 33908.61371885624,
      "return_pct": 239.08613718856242,
      "cagr_pct": 44.44587995679083,
      "max_drawdown_pct": 39.911896086919874,
      "mean_exposure_while_solvent": 0.7497390026495924,
      "realized_annual_volatility_pct": 34.717974537389296,
      "trading_costs_quote_units": 69.85100934941165,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23978.464728205654,
      "turnover_quote_units": 116418.34891568612,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 46697.3765771729,
      "return_pct": 366.973765771729,
      "cagr_pct": 59.05976035857727,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9995877988458368,
      "realized_annual_volatility_pct": 46.30062603209002,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36703.37297933163,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 56239.08466489698,
      "return_pct": 462.39084664896984,
      "cagr_pct": 68.21985666801167,
      "max_drawdown_pct": 58.739225737514666,
      "mean_exposure_while_solvent": 1.2494891003764144,
      "realized_annual_volatility_pct": 57.89987992133901,
      "trading_costs_quote_units": 201.33658702777865,
      "borrowing_costs_quote_units": 4290.820527620907,
      "price_pnl_quote_units": 50731.241779545475,
      "turnover_quote_units": 335560.9783796312,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 64628.88841981866,
      "return_pct": 546.2888841981866,
      "cagr_pct": 75.41369592333027,
      "max_drawdown_pct": 66.26945603754422,
      "mean_exposure_while_solvent": 1.4994510776537284,
      "realized_annual_volatility_pct": 69.52080160373171,
      "trading_costs_quote_units": 592.3253412778804,
      "borrowing_costs_quote_units": 10784.777103264136,
      "price_pnl_quote_units": 66005.99086436108,
      "turnover_quote_units": 987208.9021297988,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 45878.36447165729,
      "return_pct": 358.7836447165729,
      "cagr_pct": 58.214428436468154,
      "max_drawdown_pct": 53.983364881850406,
      "mean_exposure_while_solvent": 0.9514473342434724,
      "realized_annual_volatility_pct": 42.35677365568898,
      "trading_costs_quote_units": 601.3744308356186,
      "borrowing_costs_quote_units": 2294.882321397413,
      "price_pnl_quote_units": 38774.62122389035,
      "turnover_quote_units": 1002290.718059364,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 56561.48569820807,
      "return_pct": 465.61485698208065,
      "cagr_pct": 68.50969547778112,
      "max_drawdown_pct": 64.62439218887762,
      "mean_exposure_while_solvent": 1.3075766710489078,
      "realized_annual_volatility_pct": 58.975155510983456,
      "trading_costs_quote_units": 771.8730389380387,
      "borrowing_costs_quote_units": 11517.964538436674,
      "price_pnl_quote_units": 58851.323275582545,
      "turnover_quote_units": 1286455.0648967312,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 54182.531953912796,
      "return_pct": 441.82531953912803,
      "cagr_pct": 66.34314126357926,
      "max_drawdown_pct": 66.83378884930346,
      "mean_exposure_while_solvent": 1.4589766637893908,
      "realized_annual_volatility_pct": 67.1916055600309,
      "trading_costs_quote_units": 619.9044523792147,
      "borrowing_costs_quote_units": 17508.048362978043,
      "price_pnl_quote_units": 62310.48476927029,
      "turnover_quote_units": 1033174.0872986927,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 49026.18060454023,
      "return_pct": 390.26180604540235,
      "cagr_pct": 61.408125691232684,
      "max_drawdown_pct": 62.894101957865736,
      "mean_exposure_while_solvent": 1.314356675536282,
      "realized_annual_volatility_pct": 58.748047391024315,
      "trading_costs_quote_units": 1071.249271940351,
      "borrowing_costs_quote_units": 11054.602826988918,
      "price_pnl_quote_units": 51152.03270346943,
      "turnover_quote_units": 1785415.4532339168,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 54255.538715248695,
      "return_pct": 442.555387152487,
      "cagr_pct": 66.41060857737091,
      "max_drawdown_pct": 66.26661352337167,
      "mean_exposure_while_solvent": 1.3035482773078206,
      "realized_annual_volatility_pct": 59.339685660322175,
      "trading_costs_quote_units": 515.7858017440104,
      "borrowing_costs_quote_units": 11372.394943823736,
      "price_pnl_quote_units": 56143.71946081658,
      "turnover_quote_units": 859643.0029066823,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 46223.40836084156,
      "return_pct": 362.23408360841563,
      "cagr_pct": 58.57183591917412,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9898724255187619,
      "realized_annual_volatility_pct": 45.78363380871445,
      "trading_costs_quote_units": 48.904996778398726,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36272.313357619845,
      "turnover_quote_units": 81508.3279639979,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 139,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33908.61371885624,
      "return_pct": 239.08613718856242,
      "cagr_pct": 44.44587995679083,
      "max_drawdown_pct": 39.911896086919874,
      "mean_exposure_while_solvent": 0.7497390026495924,
      "realized_annual_volatility_pct": 34.717974537389296,
      "trading_costs_quote_units": 69.85100934941165,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23978.464728205654,
      "turnover_quote_units": 116418.34891568612,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 46697.3765771729,
      "return_pct": 366.973765771729,
      "cagr_pct": 59.05976035857727,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9995877988458368,
      "realized_annual_volatility_pct": 46.30062603209002,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36703.37297933163,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 51763.34387298968,
      "return_pct": 417.6334387298968,
      "cagr_pct": 64.07065378270758,
      "max_drawdown_pct": 59.08540714317635,
      "mean_exposure_while_solvent": 1.2495247256220476,
      "realized_annual_volatility_pct": 57.90179168036191,
      "trading_costs_quote_units": 191.6725680375402,
      "borrowing_costs_quote_units": 8153.073100656086,
      "price_pnl_quote_units": 50108.08954168342,
      "turnover_quote_units": 319454.2800625672,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 54750.2058481234,
      "return_pct": 447.502058481234,
      "cagr_pct": 66.86607924884265,
      "max_drawdown_pct": 66.83409506280636,
      "mean_exposure_while_solvent": 1.4995366145180506,
      "realized_annual_volatility_pct": 69.52540971215863,
      "trading_costs_quote_units": 535.7521342505536,
      "borrowing_costs_quote_units": 19455.55053336435,
      "price_pnl_quote_units": 64741.50851573892,
      "turnover_quote_units": 892920.223750924,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 43979.24811778603,
      "return_pct": 339.79248117786034,
      "cagr_pct": 56.21288567344045,
      "max_drawdown_pct": 54.100439060195114,
      "mean_exposure_while_solvent": 0.9517927399017073,
      "realized_annual_volatility_pct": 42.290783105263486,
      "trading_costs_quote_units": 2945.9096333211264,
      "borrowing_costs_quote_units": 556.5169329568431,
      "price_pnl_quote_units": 37481.67468406415,
      "turnover_quote_units": 981969.877773708,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 61413.65348631646,
      "return_pct": 514.1365348631647,
      "cagr_pct": 72.73859851396578,
      "max_drawdown_pct": 64.19293003978537,
      "mean_exposure_while_solvent": 1.3079938712548118,
      "realized_annual_volatility_pct": 58.84738817909003,
      "trading_costs_quote_units": 4083.0080341207004,
      "borrowing_costs_quote_units": 3039.6926282570266,
      "price_pnl_quote_units": 58536.35414869412,
      "turnover_quote_units": 1361002.678040234,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 64591.916115807275,
      "return_pct": 545.9191611580727,
      "cagr_pct": 75.38346932597588,
      "max_drawdown_pct": 66.06872099819412,
      "mean_exposure_while_solvent": 1.4592736941169941,
      "realized_annual_volatility_pct": 67.11709805159721,
      "trading_costs_quote_units": 3464.7428166824466,
      "borrowing_costs_quote_units": 4872.193498211564,
      "price_pnl_quote_units": 62928.85243070146,
      "turnover_quote_units": 1154914.2722274824,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 51060.437455216364,
      "return_pct": 410.6043745521636,
      "cagr_pct": 63.39648767095274,
      "max_drawdown_pct": 62.3436100657272,
      "mean_exposure_while_solvent": 1.3148482259300052,
      "realized_annual_volatility_pct": 58.57311405629455,
      "trading_costs_quote_units": 5445.638491983824,
      "borrowing_costs_quote_units": 2799.816425152406,
      "price_pnl_quote_units": 49305.89237235236,
      "turnover_quote_units": 1815212.830661272,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 59442.369203211834,
      "return_pct": 494.42369203211837,
      "cagr_pct": 71.04972854346035,
      "max_drawdown_pct": 65.66766129341705,
      "mean_exposure_while_solvent": 1.3038661901202042,
      "realized_annual_volatility_pct": 59.25477593216414,
      "trading_costs_quote_units": 2786.8686634782193,
      "borrowing_costs_quote_units": 3015.854789141744,
      "price_pnl_quote_units": 55245.09265583217,
      "turnover_quote_units": 928956.2211594079,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 45650.48865296268,
      "return_pct": 356.50488652962684,
      "cagr_pct": 57.97735618775168,
      "max_drawdown_pct": 49.83697178895504,
      "mean_exposure_while_solvent": 0.9901623957828597,
      "realized_annual_volatility_pct": 45.78057623706882,
      "trading_costs_quote_units": 241.1387598328519,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35891.62741279536,
      "turnover_quote_units": 80379.58661095057,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 139,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 33596.85796912416,
      "return_pct": 235.96857969124164,
      "cagr_pct": 44.04464482073882,
      "max_drawdown_pct": 39.98710110896544,
      "mean_exposure_while_solvent": 0.7499642907269567,
      "realized_annual_volatility_pct": 34.72988993883926,
      "trading_costs_quote_units": 355.64130491848704,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23952.499274042566,
      "turnover_quote_units": 118547.10163949568,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 46677.36501825448,
      "return_pct": 366.7736501825448,
      "cagr_pct": 59.03922969884139,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9998625996152789,
      "realized_annual_volatility_pct": 46.30102296462082,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36707.27528744711,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 57651.25331593121,
      "return_pct": 476.51253315931206,
      "cagr_pct": 69.48093219964618,
      "max_drawdown_pct": 58.60775317214182,
      "mean_exposure_while_solvent": 1.2497692721563742,
      "realized_annual_volatility_pct": 57.881561466332144,
      "trading_costs_quote_units": 1044.9983639167915,
      "borrowing_costs_quote_units": 2178.2000165720115,
      "price_pnl_quote_units": 50874.45169642,
      "turnover_quote_units": 348332.7879722634,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 67537.69844090467,
      "return_pct": 575.3769844090467,
      "cagr_pct": 77.7548422851816,
      "max_drawdown_pct": 66.07650764437525,
      "mean_exposure_while_solvent": 1.4996948263994676,
      "realized_annual_volatility_pct": 69.47590955981599,
      "trading_costs_quote_units": 3112.487906328152,
      "borrowing_costs_quote_units": 5543.230095244888,
      "price_pnl_quote_units": 66193.41644247771,
      "turnover_quote_units": 1037495.96877605,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 43401.6417696024,
      "return_pct": 334.016417696024,
      "cagr_pct": 55.592168876898974,
      "max_drawdown_pct": 54.15519284088598,
      "mean_exposure_while_solvent": 0.9517987475966777,
      "realized_annual_volatility_pct": 42.29105908383823,
      "trading_costs_quote_units": 2923.1751239942573,
      "borrowing_costs_quote_units": 1103.5984261462927,
      "price_pnl_quote_units": 37428.415319743,
      "turnover_quote_units": 974391.7079980865,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 58260.23118985028,
      "return_pct": 482.6023118985028,
      "cagr_pct": 70.0180954759625,
      "max_drawdown_pct": 64.41571665245564,
      "mean_exposure_while_solvent": 1.3080197971477323,
      "realized_annual_volatility_pct": 58.84891795354665,
      "trading_costs_quote_units": 3953.9086401615164,
      "borrowing_costs_quote_units": 5875.279812867033,
      "price_pnl_quote_units": 58089.41964287854,
      "turnover_quote_units": 1317969.5467205066,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 59851.097280462374,
      "return_pct": 498.5109728046237,
      "cagr_pct": 71.4030818776608,
      "max_drawdown_pct": 66.35407164781671,
      "mean_exposure_while_solvent": 1.4593124285326036,
      "realized_annual_volatility_pct": 67.11979320501071,
      "trading_costs_quote_units": 3312.002688294276,
      "borrowing_costs_quote_units": 9287.407911333621,
      "price_pnl_quote_units": 62450.50788008973,
      "turnover_quote_units": 1104000.896098094,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 48315.25916736564,
      "return_pct": 383.1525916736564,
      "cagr_pct": 60.699656150584815,
      "max_drawdown_pct": 62.570484592398124,
      "mean_exposure_while_solvent": 1.314875645975009,
      "realized_annual_volatility_pct": 58.57494069532102,
      "trading_costs_quote_units": 5272.237079027809,
      "borrowing_costs_quote_units": 5408.737307108888,
      "price_pnl_quote_units": 48996.233553501814,
      "turnover_quote_units": 1757412.359675937,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 56504.703502493765,
      "return_pct": 465.04703502493766,
      "cagr_pct": 68.45873215077035,
      "max_drawdown_pct": 65.89532944101606,
      "mean_exposure_while_solvent": 1.303890917128407,
      "realized_annual_volatility_pct": 59.25642260477881,
      "trading_costs_quote_units": 2701.43267153219,
      "borrowing_costs_quote_units": 5837.091313393917,
      "price_pnl_quote_units": 55043.22748741952,
      "turnover_quote_units": 900477.5571773947,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 45650.48865296268,
      "return_pct": 356.50488652962684,
      "cagr_pct": 57.97735618775168,
      "max_drawdown_pct": 49.83697178895504,
      "mean_exposure_while_solvent": 0.9901623957828597,
      "realized_annual_volatility_pct": 45.78057623706882,
      "trading_costs_quote_units": 241.1387598328519,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35891.62741279536,
      "turnover_quote_units": 80379.58661095057,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 139,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33596.85796912416,
      "return_pct": 235.96857969124164,
      "cagr_pct": 44.04464482073882,
      "max_drawdown_pct": 39.98710110896544,
      "mean_exposure_while_solvent": 0.7499642907269567,
      "realized_annual_volatility_pct": 34.72988993883926,
      "trading_costs_quote_units": 355.64130491848704,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23952.499274042566,
      "turnover_quote_units": 118547.10163949568,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 46677.36501825448,
      "return_pct": 366.7736501825448,
      "cagr_pct": 59.03922969884139,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9998625996152789,
      "realized_annual_volatility_pct": 46.30102296462082,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36707.27528744711,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 55309.40310948465,
      "return_pct": 453.0940310948465,
      "cagr_pct": 67.37751686114957,
      "max_drawdown_pct": 58.78185124010869,
      "mean_exposure_while_solvent": 1.2497870860761082,
      "realized_annual_volatility_pct": 57.8828112610481,
      "trading_costs_quote_units": 1019.9297048771555,
      "borrowing_costs_quote_units": 4245.71765699941,
      "price_pnl_quote_units": 50575.05047136128,
      "turnover_quote_units": 339976.56829238514,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 62161.64297327078,
      "return_pct": 521.6164297327077,
      "cagr_pct": 73.36951159470931,
      "max_drawdown_pct": 66.40415140852988,
      "mean_exposure_while_solvent": 1.4997375883190815,
      "realized_annual_volatility_pct": 69.47891587245894,
      "trading_costs_quote_units": 2960.706990028402,
      "borrowing_costs_quote_units": 10524.72736408671,
      "price_pnl_quote_units": 65647.07732738645,
      "turnover_quote_units": 986902.3300094667,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 42268.76922984785,
      "return_pct": 322.6876922984785,
      "cagr_pct": 54.35777465249172,
      "max_drawdown_pct": 54.26453031240446,
      "mean_exposure_while_solvent": 0.9518107650985562,
      "realized_annual_volatility_pct": 42.29162670052243,
      "trading_costs_quote_units": 2878.335568097557,
      "borrowing_costs_quote_units": 2169.9868120930173,
      "price_pnl_quote_units": 37317.091610038544,
      "turnover_quote_units": 959445.1893658552,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 52429.08329068425,
      "return_pct": 424.29083290684247,
      "cagr_pct": 64.70329865701625,
      "max_drawdown_pct": 64.85731225604911,
      "mean_exposure_while_solvent": 1.3080716593801864,
      "realized_annual_volatility_pct": 58.851998526849734,
      "trading_costs_quote_units": 3709.6334594994137,
      "borrowing_costs_quote_units": 10979.386221503306,
      "price_pnl_quote_units": 57118.10297168682,
      "turnover_quote_units": 1236544.4864998031,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 51385.232556160096,
      "return_pct": 413.85232556160094,
      "cagr_pct": 63.708803398610584,
      "max_drawdown_pct": 66.91782875960057,
      "mean_exposure_while_solvent": 1.4593899137942472,
      "realized_annual_volatility_pct": 67.12518925097028,
      "trading_costs_quote_units": 3029.616175047666,
      "borrowing_costs_quote_units": 16888.498237676267,
      "price_pnl_quote_units": 61303.34696888398,
      "turnover_quote_units": 1009872.058349222,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 43258.15897244084,
      "return_pct": 332.5815897244084,
      "cagr_pct": 55.43708278759772,
      "max_drawdown_pct": 63.0203180038898,
      "mean_exposure_while_solvent": 1.3149304972743572,
      "realized_annual_volatility_pct": 58.578616144135275,
      "trading_costs_quote_units": 4944.576074903482,
      "borrowing_costs_quote_units": 10097.383887965516,
      "price_pnl_quote_units": 48300.11893531016,
      "turnover_quote_units": 1648192.0249678309,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 51056.30995803287,
      "return_pct": 410.56309958032875,
      "cagr_pct": 63.39250983985563,
      "max_drawdown_pct": 66.34626282172191,
      "mean_exposure_while_solvent": 1.303940380983839,
      "realized_annual_volatility_pct": 59.259736679469036,
      "trading_costs_quote_units": 2539.3517935790273,
      "borrowing_costs_quote_units": 10937.130304377646,
      "price_pnl_quote_units": 54532.792055989485,
      "turnover_quote_units": 846450.597859674,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 45650.48865296268,
      "return_pct": 356.50488652962684,
      "cagr_pct": 57.97735618775168,
      "max_drawdown_pct": 49.83697178895504,
      "mean_exposure_while_solvent": 0.9901623957828597,
      "realized_annual_volatility_pct": 45.78057623706882,
      "trading_costs_quote_units": 241.1387598328519,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 35891.62741279536,
      "turnover_quote_units": 80379.58661095057,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 139,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 33596.85796912416,
      "return_pct": 235.96857969124164,
      "cagr_pct": 44.04464482073882,
      "max_drawdown_pct": 39.98710110896544,
      "mean_exposure_while_solvent": 0.7499642907269567,
      "realized_annual_volatility_pct": 34.72988993883926,
      "trading_costs_quote_units": 355.64130491848704,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23952.499274042566,
      "turnover_quote_units": 118547.10163949568,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 46677.36501825448,
      "return_pct": 366.7736501825448,
      "cagr_pct": 59.03922969884139,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9998625996152789,
      "realized_annual_volatility_pct": 46.30102296462082,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36707.27528744711,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 50906.09215379432,
      "return_pct": 409.0609215379432,
      "cagr_pct": 63.24758586696684,
      "max_drawdown_pct": 59.12797220754914,
      "mean_exposure_while_solvent": 1.2498227194026454,
      "realized_annual_volatility_pct": 57.8853112343195,
      "trading_costs_quote_units": 972.0672205011643,
      "borrowing_costs_quote_units": 8067.70443476272,
      "price_pnl_quote_units": 49945.86380905889,
      "turnover_quote_units": 324022.4068337214,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 52656.4140396218,
      "return_pct": 426.56414039621797,
      "cagr_pct": 64.9180423595589,
      "max_drawdown_pct": 67.05023268758686,
      "mean_exposure_while_solvent": 1.4998231307049579,
      "realized_annual_volatility_pct": 69.48492996356151,
      "trading_costs_quote_units": 2682.519865999771,
      "borrowing_costs_quote_units": 18990.84158467536,
      "price_pnl_quote_units": 64329.77549029688,
      "turnover_quote_units": 894173.288666591,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 44930.01770944217,
      "return_pct": 349.30017709442166,
      "cagr_pct": 57.222324942995286,
      "max_drawdown_pct": 54.13300390199968,
      "mean_exposure_while_solvent": 0.9514293212722886,
      "realized_annual_volatility_pct": 42.35439345185902,
      "trading_costs_quote_units": 2962.9273226101723,
      "borrowing_costs_quote_units": 564.38551118027,
      "price_pnl_quote_units": 38457.33054323244,
      "turnover_quote_units": 987642.4408700594,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 62452.259213746875,
      "return_pct": 524.5225921374687,
      "cagr_pct": 73.6132090804005,
      "max_drawdown_pct": 64.1796428821418,
      "mean_exposure_while_solvent": 1.307498966972974,
      "realized_annual_volatility_pct": 58.96998609794137,
      "trading_costs_quote_units": 4093.33013978084,
      "borrowing_costs_quote_units": 3065.164990437793,
      "price_pnl_quote_units": 59610.75434396537,
      "turnover_quote_units": 1364443.3799269467,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 65016.66847548934,
      "return_pct": 550.1666847548935,
      "cagr_pct": 75.72999868452335,
      "max_drawdown_pct": 66.11303291227564,
      "mean_exposure_while_solvent": 1.4588605097308314,
      "realized_annual_volatility_pct": 67.18589157388128,
      "trading_costs_quote_units": 3447.1109422268796,
      "borrowing_costs_quote_units": 4898.179347559447,
      "price_pnl_quote_units": 63361.95876527547,
      "turnover_quote_units": 1149036.9807422918,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 52857.658665849885,
      "return_pct": 428.57658665849885,
      "cagr_pct": 65.10760431298803,
      "max_drawdown_pct": 62.66998597247717,
      "mean_exposure_while_solvent": 1.3142745146501609,
      "realized_annual_volatility_pct": 58.742163606968155,
      "trading_costs_quote_units": 5585.067544801784,
      "borrowing_costs_quote_units": 2890.1942670634603,
      "price_pnl_quote_units": 51332.92047771516,
      "turnover_quote_units": 1861689.1816005919,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 60694.44899041999,
      "return_pct": 506.9444899041999,
      "cagr_pct": 72.12688045546858,
      "max_drawdown_pct": 65.7305462036956,
      "mean_exposure_while_solvent": 1.3034741352510943,
      "realized_annual_volatility_pct": 59.33578855488607,
      "trading_costs_quote_units": 2760.924161450053,
      "borrowing_costs_quote_units": 3052.886595738722,
      "price_pnl_quote_units": 56508.25974760875,
      "turnover_quote_units": 920308.0538166818,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 45890.824708161206,
      "return_pct": 358.90824708161205,
      "cagr_pct": 58.2273677827208,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9898724255187619,
      "realized_annual_volatility_pct": 45.78346701232119,
      "trading_costs_quote_units": 243.34675852486563,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36134.17146668633,
      "turnover_quote_units": 81115.58617495521,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 139,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33542.18567601225,
      "return_pct": 235.42185676012247,
      "cagr_pct": 43.97401274844384,
      "max_drawdown_pct": 39.96815364113554,
      "mean_exposure_while_solvent": 0.7497390026495924,
      "realized_annual_volatility_pct": 34.7180828374465,
      "trading_costs_quote_units": 346.9350005313893,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23889.12067654348,
      "turnover_quote_units": 115645.00017712981,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 46585.63808885264,
      "return_pct": 365.85638088852636,
      "cagr_pct": 58.94504457137144,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9995877988458368,
      "realized_annual_volatility_pct": 46.300939166446256,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36615.54835804511,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 57568.35934151904,
      "return_pct": 475.6835934151904,
      "cagr_pct": 69.40750745003214,
      "max_drawdown_pct": 58.630585928517974,
      "mean_exposure_while_solvent": 1.2494712904964986,
      "realized_annual_volatility_pct": 57.8992922179748,
      "trading_costs_quote_units": 1019.729537340642,
      "borrowing_costs_quote_units": 2174.3007643242886,
      "price_pnl_quote_units": 50762.38964318426,
      "turnover_quote_units": 339909.8457802138,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 67473.14791549099,
      "return_pct": 574.73147915491,
      "cagr_pct": 77.70366123886096,
      "max_drawdown_pct": 66.11332656498583,
      "mean_exposure_while_solvent": 1.4994083184955447,
      "realized_annual_volatility_pct": 69.5191517889763,
      "trading_costs_quote_units": 3037.0864296855566,
      "borrowing_costs_quote_units": 5532.964031564208,
      "price_pnl_quote_units": 66043.19837674072,
      "turnover_quote_units": 1012362.1432285184,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 44340.16463884935,
      "return_pct": 343.4016463884935,
      "cagr_pct": 56.597852707827315,
      "max_drawdown_pct": 54.18875937500478,
      "mean_exposure_while_solvent": 0.9514353248923235,
      "realized_annual_volatility_pct": 42.354521354343646,
      "trading_costs_quote_units": 2939.97148017406,
      "borrowing_costs_quote_units": 1119.1841440678756,
      "price_pnl_quote_units": 38399.32026309147,
      "turnover_quote_units": 979990.493391355,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 59247.25621125388,
      "return_pct": 492.4725621125388,
      "cagr_pct": 70.88045062147876,
      "max_drawdown_pct": 64.40250319008705,
      "mean_exposure_while_solvent": 1.3075248648538023,
      "realized_annual_volatility_pct": 58.97110123228519,
      "trading_costs_quote_units": 3963.9410576666364,
      "borrowing_costs_quote_units": 5924.3222951422495,
      "price_pnl_quote_units": 59135.51956406274,
      "turnover_quote_units": 1321313.685888877,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 60246.74331350463,
      "return_pct": 502.4674331350463,
      "cagr_pct": 71.74352287314183,
      "max_drawdown_pct": 66.39784850978863,
      "mean_exposure_while_solvent": 1.4588992222772275,
      "realized_annual_volatility_pct": 67.1879719306929,
      "trading_costs_quote_units": 3294.0475390467263,
      "borrowing_costs_quote_units": 9336.944651264936,
      "price_pnl_quote_units": 62877.73550381628,
      "turnover_quote_units": 1098015.846348908,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 50017.48987911298,
      "return_pct": 400.17489879112975,
      "cagr_pct": 62.38412876590742,
      "max_drawdown_pct": 62.89525670992355,
      "mean_exposure_while_solvent": 1.3143018978825474,
      "realized_annual_volatility_pct": 58.74353679151959,
      "trading_costs_quote_units": 5406.712660497379,
      "borrowing_costs_quote_units": 5582.545860156782,
      "price_pnl_quote_units": 51006.74839976732,
      "turnover_quote_units": 1802237.5534991242,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 57696.66612426643,
      "return_pct": 476.96666124266426,
      "cagr_pct": 69.5211260905761,
      "max_drawdown_pct": 65.95769886457965,
      "mean_exposure_while_solvent": 1.3034988459926145,
      "realized_annual_volatility_pct": 59.33700895376205,
      "trading_costs_quote_units": 2675.6271401901654,
      "borrowing_costs_quote_units": 5908.537132596911,
      "price_pnl_quote_units": 56280.830397054204,
      "turnover_quote_units": 891875.7133967233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 45890.824708161206,
      "return_pct": 358.90824708161205,
      "cagr_pct": 58.2273677827208,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9898724255187619,
      "realized_annual_volatility_pct": 45.78346701232119,
      "trading_costs_quote_units": 243.34675852486563,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36134.17146668633,
      "turnover_quote_units": 81115.58617495521,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 139,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 33542.18567601225,
      "return_pct": 235.42185676012247,
      "cagr_pct": 43.97401274844384,
      "max_drawdown_pct": 39.96815364113554,
      "mean_exposure_while_solvent": 0.7497390026495924,
      "realized_annual_volatility_pct": 34.7180828374465,
      "trading_costs_quote_units": 346.9350005313893,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23889.12067654348,
      "turnover_quote_units": 115645.00017712981,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 46585.63808885264,
      "return_pct": 365.85638088852636,
      "cagr_pct": 58.94504457137144,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9995877988458368,
      "realized_annual_volatility_pct": 46.300939166446256,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36615.54835804511,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 55230.801831604644,
      "return_pct": 452.30801831604646,
      "cagr_pct": 67.30584764837096,
      "max_drawdown_pct": 58.8045157765402,
      "mean_exposure_while_solvent": 1.2494891003764144,
      "realized_annual_volatility_pct": 57.90026178876862,
      "trading_costs_quote_units": 994.7758305807296,
      "borrowing_costs_quote_units": 4238.191885272029,
      "price_pnl_quote_units": 50463.769547457596,
      "turnover_quote_units": 331591.9435269097,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 62104.44027341489,
      "return_pct": 521.0444027341489,
      "cagr_pct": 73.32145028903983,
      "max_drawdown_pct": 66.39819261055409,
      "mean_exposure_while_solvent": 1.4994510776537284,
      "realized_annual_volatility_pct": 69.52148898741065,
      "trading_costs_quote_units": 2887.0972305525493,
      "borrowing_costs_quote_units": 10505.778329287014,
      "price_pnl_quote_units": 65497.31583325412,
      "turnover_quote_units": 962365.7435175163,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 43183.313876996835,
      "return_pct": 331.83313876996834,
      "cagr_pct": 55.356042347527556,
      "max_drawdown_pct": 54.30009340181977,
      "mean_exposure_while_solvent": 0.9514473342434724,
      "realized_annual_volatility_pct": 42.35479279482233,
      "trading_costs_quote_units": 2894.6807044969746,
      "borrowing_costs_quote_units": 2200.5636957161173,
      "price_pnl_quote_units": 38278.55827720992,
      "turnover_quote_units": 964893.5681656578,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 53320.573801171486,
      "return_pct": 433.2057380117148,
      "cagr_pct": 65.54173966946205,
      "max_drawdown_pct": 64.84421778912086,
      "mean_exposure_while_solvent": 1.3075766710489078,
      "realized_annual_volatility_pct": 58.973352630957976,
      "trading_costs_quote_units": 3719.0749319926103,
      "borrowing_costs_quote_units": 11070.297118040362,
      "price_pnl_quote_units": 58109.94585120444,
      "turnover_quote_units": 1239691.6439975386,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 51728.57118297025,
      "return_pct": 417.2857118297025,
      "cagr_pct": 64.03745379349648,
      "max_drawdown_pct": 66.96050195057114,
      "mean_exposure_while_solvent": 1.4589766637893908,
      "realized_annual_volatility_pct": 67.19213852999599,
      "trading_costs_quote_units": 3011.1490756656785,
      "borrowing_costs_quote_units": 16978.562632865163,
      "price_pnl_quote_units": 61718.28289150119,
      "turnover_quote_units": 1003716.3585552262,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 44785.29198934592,
      "return_pct": 347.85291989345916,
      "cagr_pct": 57.0696380082659,
      "max_drawdown_pct": 63.34187535669413,
      "mean_exposure_while_solvent": 1.314356675536282,
      "realized_annual_volatility_pct": 58.74630491575087,
      "trading_costs_quote_units": 5069.6708043788985,
      "borrowing_costs_quote_units": 10418.870560515074,
      "price_pnl_quote_units": 50273.83335423967,
      "turnover_quote_units": 1689890.2681262996,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 52136.4440496732,
      "return_pct": 421.36444049673196,
      "cagr_pct": 64.42590241299142,
      "max_drawdown_pct": 66.40761301378649,
      "mean_exposure_while_solvent": 1.3035482773078206,
      "realized_annual_volatility_pct": 59.33947003131762,
      "trading_costs_quote_units": 2514.0219871770396,
      "borrowing_costs_quote_units": 11070.105452622747,
      "price_pnl_quote_units": 55720.57148947252,
      "turnover_quote_units": 838007.3290590121,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 45890.824708161206,
      "return_pct": 358.90824708161205,
      "cagr_pct": 58.2273677827208,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9898724255187619,
      "realized_annual_volatility_pct": 45.78346701232119,
      "trading_costs_quote_units": 243.34675852486563,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36134.17146668633,
      "turnover_quote_units": 81115.58617495521,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 139,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33542.18567601225,
      "return_pct": 235.42185676012247,
      "cagr_pct": 43.97401274844384,
      "max_drawdown_pct": 39.96815364113554,
      "mean_exposure_while_solvent": 0.7497390026495924,
      "realized_annual_volatility_pct": 34.7180828374465,
      "trading_costs_quote_units": 346.9350005313893,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 23889.12067654348,
      "turnover_quote_units": 115645.00017712981,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 46585.63808885264,
      "return_pct": 365.85638088852636,
      "cagr_pct": 58.94504457137144,
      "max_drawdown_pct": 49.83697178895503,
      "mean_exposure_while_solvent": 0.9995877988458368,
      "realized_annual_volatility_pct": 46.300939166446256,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 36615.54835804511,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 50835.488251771894,
      "return_pct": 408.3548825177189,
      "cagr_pct": 63.17936685919969,
      "max_drawdown_pct": 59.150277127617656,
      "mean_exposure_while_solvent": 1.2495247256220476,
      "realized_annual_volatility_pct": 57.90220111252561,
      "trading_costs_quote_units": 947.1522525943831,
      "borrowing_costs_quote_units": 8053.6881634684005,
      "price_pnl_quote_units": 49836.328667834656,
      "turnover_quote_units": 315717.4175314615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 52611.79176293915,
      "return_pct": 426.1179176293915,
      "cagr_pct": 64.8759419464724,
      "max_drawdown_pct": 66.96094438855408,
      "mean_exposure_while_solvent": 1.4995366145180506,
      "realized_annual_volatility_pct": 69.5261642498351,
      "trading_costs_quote_units": 2612.4116849534034,
      "borrowing_costs_quote_units": 18958.61272026318,
      "price_pnl_quote_units": 64182.8161681561,
      "turnover_quote_units": 870803.8949844681,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4234.995454833662,
      "return_pct": -57.65004545166339,
      "cagr_pct": -57.69158194559614,
      "max_drawdown_pct": 62.620250347265625,
      "mean_exposure_while_solvent": 0.6416085812410212,
      "realized_annual_volatility_pct": 44.699651624865346,
      "trading_costs_quote_units": 30.593204373094604,
      "borrowing_costs_quote_units": 12.787471723698044,
      "price_pnl_quote_units": -5721.623869069555,
      "turnover_quote_units": 50988.67395515768,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2878.4862602179337,
      "return_pct": -71.21513739782065,
      "cagr_pct": -71.25604751834005,
      "max_drawdown_pct": 76.04071151369803,
      "mean_exposure_while_solvent": 0.8663565733869434,
      "realized_annual_volatility_pct": 61.5623141824929,
      "trading_costs_quote_units": 27.671846387945042,
      "borrowing_costs_quote_units": 24.82465608575936,
      "price_pnl_quote_units": -7069.017237308356,
      "turnover_quote_units": 46119.74397990837,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2103.6585781223066,
      "return_pct": -78.96341421877693,
      "cagr_pct": -79.00083416719205,
      "max_drawdown_pct": 83.4463060755246,
      "mean_exposure_while_solvent": 1.0548685181379092,
      "realized_annual_volatility_pct": 77.07807484178825,
      "trading_costs_quote_units": 30.73421400744441,
      "borrowing_costs_quote_units": 47.64192626938024,
      "price_pnl_quote_units": -7817.965281600867,
      "turnover_quote_units": 51223.69001240739,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3116.619299035409,
      "return_pct": -68.83380700964591,
      "cagr_pct": -68.87527628624424,
      "max_drawdown_pct": 75.0980481691113,
      "mean_exposure_while_solvent": 0.8966350066642169,
      "realized_annual_volatility_pct": 61.75224077482233,
      "trading_costs_quote_units": 42.458078396430125,
      "borrowing_costs_quote_units": 28.29787844283109,
      "price_pnl_quote_units": -6812.624744125336,
      "turnover_quote_units": 70763.46399405014,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3249.3977127825347,
      "return_pct": -67.50602287217465,
      "cagr_pct": -67.54771262104302,
      "max_drawdown_pct": 74.39446569377127,
      "mean_exposure_while_solvent": 0.8268211544155495,
      "realized_annual_volatility_pct": 62.027808910014826,
      "trading_costs_quote_units": 22.251270210583566,
      "borrowing_costs_quote_units": 18.165721708104616,
      "price_pnl_quote_units": -6710.185295298784,
      "turnover_quote_units": 37085.45035097256,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3637.9560162564294,
      "return_pct": -63.620439837435704,
      "cagr_pct": -63.662427544888715,
      "max_drawdown_pct": 69.71921009365303,
      "mean_exposure_while_solvent": 0.7796185067376966,
      "realized_annual_volatility_pct": 56.726356299689364,
      "trading_costs_quote_units": 18.337089099738023,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6343.706894643831,
      "turnover_quote_units": 30561.81516623003,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 214,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4062.7206284185513,
      "return_pct": -59.37279371581449,
      "cagr_pct": -59.41456555067835,
      "max_drawdown_pct": 69.8887657745692,
      "mean_exposure_while_solvent": 0.7495505029241744,
      "realized_annual_volatility_pct": 65.45382436122009,
      "trading_costs_quote_units": 13.770278070831356,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5923.509093510633,
      "turnover_quote_units": 22950.463451385567,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2712.7218357349257,
      "return_pct": -72.87278164265074,
      "cagr_pct": -72.91317074756036,
      "max_drawdown_pct": 81.6373364742596,
      "mean_exposure_while_solvent": 0.9995427526291722,
      "realized_annual_volatility_pct": 87.56471737306597,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7281.2817621063905,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 1686.2237549094898,
      "return_pct": -83.1377624509051,
      "cagr_pct": -83.1720085324486,
      "max_drawdown_pct": 89.51719576390053,
      "mean_exposure_while_solvent": 1.2497595392208423,
      "realized_annual_volatility_pct": 109.90723241388693,
      "trading_costs_quote_units": 18.423246289857843,
      "borrowing_costs_quote_units": 55.98089209184979,
      "price_pnl_quote_units": -8239.37210670881,
      "turnover_quote_units": 30705.410483096384,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 988.7294199655598,
      "return_pct": -90.1127058003444,
      "cagr_pct": -90.13880013692348,
      "max_drawdown_pct": 94.32929124664147,
      "mean_exposure_while_solvent": 1.500274722711186,
      "realized_annual_volatility_pct": 132.53389914081254,
      "trading_costs_quote_units": 30.6443344514891,
      "borrowing_costs_quote_units": 89.46369812449642,
      "price_pnl_quote_units": -8891.16254745843,
      "turnover_quote_units": 51073.89075248183,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4227.270809068559,
      "return_pct": -57.7272919093144,
      "cagr_pct": -57.76884069466948,
      "max_drawdown_pct": 62.68843113469151,
      "mean_exposure_while_solvent": 0.6416115173593661,
      "realized_annual_volatility_pct": 44.700500233182,
      "trading_costs_quote_units": 30.583617165607077,
      "borrowing_costs_quote_units": 25.554093352331122,
      "price_pnl_quote_units": -5716.591480413499,
      "turnover_quote_units": 50972.69527601182,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2865.973013855246,
      "return_pct": -71.34026986144755,
      "cagr_pct": -71.38114453547513,
      "max_drawdown_pct": 76.1448664244396,
      "mean_exposure_while_solvent": 0.866363607981635,
      "realized_annual_volatility_pct": 61.563737560529894,
      "trading_costs_quote_units": 27.655614904225303,
      "borrowing_costs_quote_units": 49.55051968602688,
      "price_pnl_quote_units": -7056.820851554497,
      "turnover_quote_units": 46092.69150704217,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2083.823124417963,
      "return_pct": -79.16176875582038,
      "cagr_pct": -79.19906093243766,
      "max_drawdown_pct": 83.6023913038452,
      "mean_exposure_while_solvent": 1.0548839185453411,
      "realized_annual_volatility_pct": 77.08028763780447,
      "trading_costs_quote_units": 30.676462033760302,
      "borrowing_costs_quote_units": 94.88097372001764,
      "price_pnl_quote_units": -7790.619439828251,
      "turnover_quote_units": 51127.43672293388,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3100.5171519977,
      "return_pct": -68.994828480023,
      "cagr_pct": -69.03626668178319,
      "max_drawdown_pct": 75.22670516935224,
      "mean_exposure_while_solvent": 0.8966433403382491,
      "realized_annual_volatility_pct": 61.753148573511105,
      "trading_costs_quote_units": 42.42539780262217,
      "borrowing_costs_quote_units": 56.46003840925356,
      "price_pnl_quote_units": -6800.597411790439,
      "turnover_quote_units": 70708.99633770357,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3240.26109176343,
      "return_pct": -67.5973890823657,
      "cagr_pct": -67.63906567473245,
      "max_drawdown_pct": 74.46646305562925,
      "mean_exposure_while_solvent": 0.8268258159594882,
      "realized_annual_volatility_pct": 62.02941680748406,
      "trading_costs_quote_units": 22.242471577654594,
      "borrowing_costs_quote_units": 36.28628141882005,
      "price_pnl_quote_units": -6701.210155240101,
      "turnover_quote_units": 37070.78596275764,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3637.9560162564294,
      "return_pct": -63.620439837435704,
      "cagr_pct": -63.662427544888715,
      "max_drawdown_pct": 69.71921009365303,
      "mean_exposure_while_solvent": 0.7796185067376966,
      "realized_annual_volatility_pct": 56.726356299689364,
      "trading_costs_quote_units": 18.337089099738023,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6343.706894643831,
      "turnover_quote_units": 30561.81516623003,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 214,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4062.7206284185513,
      "return_pct": -59.37279371581449,
      "cagr_pct": -59.41456555067835,
      "max_drawdown_pct": 69.8887657745692,
      "mean_exposure_while_solvent": 0.7495505029241744,
      "realized_annual_volatility_pct": 65.45382436122009,
      "trading_costs_quote_units": 13.770278070831356,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5923.509093510633,
      "turnover_quote_units": 22950.463451385567,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2712.7218357349257,
      "return_pct": -72.87278164265074,
      "cagr_pct": -72.91317074756036,
      "max_drawdown_pct": 81.6373364742596,
      "mean_exposure_while_solvent": 0.9995427526291722,
      "realized_annual_volatility_pct": 87.56471737306597,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7281.2817621063905,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 1665.1663645054093,
      "return_pct": -83.3483363549459,
      "cagr_pct": -83.38239327092184,
      "max_drawdown_pct": 89.64044983807263,
      "mean_exposure_while_solvent": 1.249777406606023,
      "realized_annual_volatility_pct": 109.90956362330454,
      "trading_costs_quote_units": 18.381957778398526,
      "borrowing_costs_quote_units": 111.41978216970735,
      "price_pnl_quote_units": -8205.031895546474,
      "turnover_quote_units": 30636.5962973309,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 964.1321909256391,
      "return_pct": -90.35867809074361,
      "cagr_pct": -90.38439992133515,
      "max_drawdown_pct": 94.46220503959763,
      "mean_exposure_while_solvent": 1.5003176965304166,
      "realized_annual_volatility_pct": 132.53960532996635,
      "trading_costs_quote_units": 30.498189285173698,
      "borrowing_costs_quote_units": 177.33611687282635,
      "price_pnl_quote_units": -8828.033502916409,
      "turnover_quote_units": 50830.315475289564,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4211.859817349223,
      "return_pct": -57.88140182650777,
      "cagr_pct": -57.92297465176339,
      "max_drawdown_pct": 62.824454660221306,
      "mean_exposure_while_solvent": 0.6416173907652177,
      "realized_annual_volatility_pct": 44.702208560403776,
      "trading_costs_quote_units": 30.564472861263035,
      "borrowing_costs_quote_units": 51.02490711399064,
      "price_pnl_quote_units": -5706.5508026755215,
      "turnover_quote_units": 50940.788102105056,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2841.1024385921723,
      "return_pct": -71.58897561407828,
      "cagr_pct": -71.62977798213073,
      "max_drawdown_pct": 76.35187845565324,
      "mean_exposure_while_solvent": 0.8663776799945815,
      "realized_annual_volatility_pct": 61.566601347542694,
      "trading_costs_quote_units": 27.624642891918082,
      "borrowing_costs_quote_units": 98.70738846125928,
      "price_pnl_quote_units": -7032.565530054654,
      "turnover_quote_units": 46041.07148653016,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2044.7010003763676,
      "return_pct": -79.55298999623632,
      "cagr_pct": -79.59002382794957,
      "max_drawdown_pct": 83.91024338297774,
      "mean_exposure_while_solvent": 1.0549147255643094,
      "realized_annual_volatility_pct": 77.08473505212346,
      "trading_costs_quote_units": 30.56291177061558,
      "borrowing_costs_quote_units": 188.16440060307715,
      "price_pnl_quote_units": -7736.571687249953,
      "turnover_quote_units": 50938.18628435928,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3068.553141152941,
      "return_pct": -69.31446858847059,
      "cagr_pct": -69.35584227032712,
      "max_drawdown_pct": 75.48209929420557,
      "mean_exposure_while_solvent": 0.8966600110056943,
      "realized_annual_volatility_pct": 61.75498291613268,
      "trading_costs_quote_units": 42.3615710888078,
      "borrowing_costs_quote_units": 112.37976638867259,
      "price_pnl_quote_units": -6776.705521369607,
      "turnover_quote_units": 70602.61848134639,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3222.059857147987,
      "return_pct": -67.77940142852013,
      "cagr_pct": -67.82105093398113,
      "max_drawdown_pct": 74.60989035464166,
      "mean_exposure_while_solvent": 0.8268351409920608,
      "realized_annual_volatility_pct": 62.032645833540414,
      "trading_costs_quote_units": 22.22528433914567,
      "borrowing_costs_quote_units": 72.39233087168604,
      "price_pnl_quote_units": -6683.322527641174,
      "turnover_quote_units": 37042.14056524274,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3637.9560162564294,
      "return_pct": -63.620439837435704,
      "cagr_pct": -63.662427544888715,
      "max_drawdown_pct": 69.71921009365303,
      "mean_exposure_while_solvent": 0.7796185067376966,
      "realized_annual_volatility_pct": 56.726356299689364,
      "trading_costs_quote_units": 18.337089099738023,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6343.706894643831,
      "turnover_quote_units": 30561.81516623003,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 214,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4062.7206284185513,
      "return_pct": -59.37279371581449,
      "cagr_pct": -59.41456555067835,
      "max_drawdown_pct": 69.8887657745692,
      "mean_exposure_while_solvent": 0.7495505029241744,
      "realized_annual_volatility_pct": 65.45382436122009,
      "trading_costs_quote_units": 13.770278070831356,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5923.509093510633,
      "turnover_quote_units": 22950.463451385567,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2712.7218357349257,
      "return_pct": -72.87278164265074,
      "cagr_pct": -72.91317074756036,
      "max_drawdown_pct": 81.6373364742596,
      "mean_exposure_while_solvent": 0.9995427526291722,
      "realized_annual_volatility_pct": 87.56471737306597,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7281.2817621063905,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 1623.8279245223237,
      "return_pct": -83.76172075477677,
      "cagr_pct": -83.79539743985475,
      "max_drawdown_pct": 89.88268188259606,
      "mean_exposure_while_solvent": 1.2498131468901341,
      "realized_annual_volatility_pct": 109.91422730692565,
      "trading_costs_quote_units": 18.300621340792684,
      "borrowing_costs_quote_units": 220.69504776075556,
      "price_pnl_quote_units": -8137.176406376124,
      "turnover_quote_units": 30501.035567987823,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 916.7453312763905,
      "return_pct": -90.83254668723609,
      "cagr_pct": -90.85753054313321,
      "max_drawdown_pct": 94.7188300164184,
      "mean_exposure_while_solvent": 1.5004036628935762,
      "realized_annual_volatility_pct": 132.55102191304803,
      "trading_costs_quote_units": 30.21220821594576,
      "borrowing_costs_quote_units": 348.4408128610787,
      "price_pnl_quote_units": -8704.601647646567,
      "turnover_quote_units": 50353.68035990967,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4156.530709366098,
      "return_pct": -58.43469290633902,
      "cagr_pct": -58.47634671632227,
      "max_drawdown_pct": 63.44326122387442,
      "mean_exposure_while_solvent": 0.6409335657069808,
      "realized_annual_volatility_pct": 45.03154418580325,
      "trading_costs_quote_units": 30.764015931680877,
      "borrowing_costs_quote_units": 12.88762475879153,
      "price_pnl_quote_units": -5799.817649943423,
      "turnover_quote_units": 51273.35988613484,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2860.779533646012,
      "return_pct": -71.39220466353989,
      "cagr_pct": -71.43306444288615,
      "max_drawdown_pct": 76.34382617524646,
      "mean_exposure_while_solvent": 0.865403227318234,
      "realized_annual_volatility_pct": 61.81967339819047,
      "trading_costs_quote_units": 27.501683877830224,
      "borrowing_costs_quote_units": 25.2073048585168,
      "price_pnl_quote_units": -7086.511477617637,
      "turnover_quote_units": 45836.13979638366,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2162.967210830336,
      "return_pct": -78.37032789169665,
      "cagr_pct": -78.40811722658268,
      "max_drawdown_pct": 83.15511005598204,
      "mean_exposure_while_solvent": 1.053864636764787,
      "realized_annual_volatility_pct": 76.95606476959551,
      "trading_costs_quote_units": 30.202311937950398,
      "borrowing_costs_quote_units": 48.704589195438594,
      "price_pnl_quote_units": -7758.125888036267,
      "turnover_quote_units": 50337.18656325063,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3143.5078527106,
      "return_pct": -68.56492147289399,
      "cagr_pct": -68.60644052539062,
      "max_drawdown_pct": 75.03397646691565,
      "mean_exposure_while_solvent": 0.8958724471577427,
      "realized_annual_volatility_pct": 62.06439523272055,
      "trading_costs_quote_units": 43.580507381229495,
      "borrowing_costs_quote_units": 29.388782002799612,
      "price_pnl_quote_units": -6783.522857905375,
      "turnover_quote_units": 72634.17896871571,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 351,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3290.837625738659,
      "return_pct": -67.09162374261342,
      "cagr_pct": -67.13336949329982,
      "max_drawdown_pct": 74.3135850716139,
      "mean_exposure_while_solvent": 0.8258211469899759,
      "realized_annual_volatility_pct": 61.88925034238103,
      "trading_costs_quote_units": 22.380500644287373,
      "borrowing_costs_quote_units": 18.330110098150623,
      "price_pnl_quote_units": -6668.4517635188995,
      "turnover_quote_units": 37300.83440714563,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 305,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3696.7334797233643,
      "return_pct": -63.03266520276636,
      "cagr_pct": -63.07465539294325,
      "max_drawdown_pct": 69.43120965750629,
      "mean_exposure_while_solvent": 0.7787370360995287,
      "realized_annual_volatility_pct": 56.77357363052319,
      "trading_costs_quote_units": 18.259278770512264,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6285.007241506128,
      "turnover_quote_units": 30432.131284187126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4116.22027685377,
      "return_pct": -58.8377972314623,
      "cagr_pct": -58.879504752492664,
      "max_drawdown_pct": 70.01783714728853,
      "mean_exposure_while_solvent": 0.7486364927384767,
      "realized_annual_volatility_pct": 65.48050498528717,
      "trading_costs_quote_units": 13.353349208134324,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5870.4263739381,
      "turnover_quote_units": 22255.582013557214,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2783.5273406109086,
      "return_pct": -72.16472659389092,
      "cagr_pct": -72.2053519995115,
      "max_drawdown_pct": 81.63733647425958,
      "mean_exposure_while_solvent": 0.998628257887517,
      "realized_annual_volatility_pct": 87.53348519235614,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7210.476257230389,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1762.4481372248802,
      "return_pct": -82.3755186277512,
      "cagr_pct": -82.41042463578947,
      "max_drawdown_pct": 89.425441351889,
      "mean_exposure_while_solvent": 1.2490019526280711,
      "realized_annual_volatility_pct": 109.78682789970362,
      "trading_costs_quote_units": 18.187255308456585,
      "borrowing_costs_quote_units": 57.97902651350009,
      "price_pnl_quote_units": -8161.385580953163,
      "turnover_quote_units": 30312.09218076097,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1059.4043680938787,
      "return_pct": -89.4059563190612,
      "cagr_pct": -89.43308272106687,
      "max_drawdown_pct": 94.20004875573156,
      "mean_exposure_while_solvent": 1.49983663500404,
      "realized_annual_volatility_pct": 132.298883678247,
      "trading_costs_quote_units": 30.491585246260247,
      "borrowing_costs_quote_units": 93.73500040032036,
      "price_pnl_quote_units": -8816.369046259537,
      "turnover_quote_units": 50819.30874376705,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4148.936538744256,
      "return_pct": -58.510634612557446,
      "cagr_pct": -58.552298883978594,
      "max_drawdown_pct": 63.510052048014956,
      "mean_exposure_while_solvent": 0.6409365040581481,
      "realized_annual_volatility_pct": 45.03238940583212,
      "trading_costs_quote_units": 30.754670528377527,
      "borrowing_costs_quote_units": 25.754259471308494,
      "price_pnl_quote_units": -5794.554531256036,
      "turnover_quote_units": 51257.784213962535,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2848.3246848817685,
      "return_pct": -71.51675315118231,
      "cagr_pct": -71.5575767715495,
      "max_drawdown_pct": 76.44681700829136,
      "mean_exposure_while_solvent": 0.8654102536793782,
      "realized_annual_volatility_pct": 61.82123497858717,
      "trading_costs_quote_units": 27.485077296953914,
      "borrowing_costs_quote_units": 50.314545014763425,
      "price_pnl_quote_units": -7073.875692806516,
      "turnover_quote_units": 45808.46216158989,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2142.574814346657,
      "return_pct": -78.57425185653342,
      "cagr_pct": -78.61191630329122,
      "max_drawdown_pct": 83.31392322371863,
      "mean_exposure_while_solvent": 1.053880134011944,
      "realized_annual_volatility_pct": 76.95806062531089,
      "trading_costs_quote_units": 30.14913446951244,
      "borrowing_costs_quote_units": 96.99704996496826,
      "price_pnl_quote_units": -7730.279001218844,
      "turnover_quote_units": 50248.557449187356,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3127.2640243159813,
      "return_pct": -68.72735975684019,
      "cagr_pct": -68.76884905436687,
      "max_drawdown_pct": 75.16298642043549,
      "mean_exposure_while_solvent": 0.895880794475378,
      "realized_annual_volatility_pct": 62.065337470226076,
      "trading_costs_quote_units": 43.548717829949055,
      "borrowing_costs_quote_units": 58.636816313612385,
      "price_pnl_quote_units": -6770.550441540451,
      "turnover_quote_units": 72581.19638324845,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 351,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3281.5797551471023,
      "return_pct": -67.18420244852898,
      "cagr_pct": -67.22593620774032,
      "max_drawdown_pct": 74.3858467667848,
      "mean_exposure_while_solvent": 0.825825782528795,
      "realized_annual_volatility_pct": 61.89078151417473,
      "trading_costs_quote_units": 22.372408167119794,
      "borrowing_costs_quote_units": 36.614916758483325,
      "price_pnl_quote_units": -6659.432919927277,
      "turnover_quote_units": 37287.34694519964,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 305,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3696.7334797233643,
      "return_pct": -63.03266520276636,
      "cagr_pct": -63.07465539294325,
      "max_drawdown_pct": 69.43120965750629,
      "mean_exposure_while_solvent": 0.7787370360995287,
      "realized_annual_volatility_pct": 56.77357363052319,
      "trading_costs_quote_units": 18.259278770512264,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6285.007241506128,
      "turnover_quote_units": 30432.131284187126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4116.22027685377,
      "return_pct": -58.8377972314623,
      "cagr_pct": -58.879504752492664,
      "max_drawdown_pct": 70.01783714728853,
      "mean_exposure_while_solvent": 0.7486364927384767,
      "realized_annual_volatility_pct": 65.48050498528717,
      "trading_costs_quote_units": 13.353349208134324,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5870.4263739381,
      "turnover_quote_units": 22255.582013557214,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2783.5273406109086,
      "return_pct": -72.16472659389092,
      "cagr_pct": -72.2053519995115,
      "max_drawdown_pct": 81.63733647425958,
      "mean_exposure_while_solvent": 0.998628257887517,
      "realized_annual_volatility_pct": 87.53348519235614,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7210.476257230389,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1740.4608374784953,
      "return_pct": -82.59539162521506,
      "cagr_pct": -82.63011120807997,
      "max_drawdown_pct": 89.54977536768607,
      "mean_exposure_while_solvent": 1.2490199173512138,
      "realized_annual_volatility_pct": 109.78899759391476,
      "trading_costs_quote_units": 18.15136086364602,
      "borrowing_costs_quote_units": 115.39489272348615,
      "price_pnl_quote_units": -8125.992908934374,
      "turnover_quote_units": 30252.26810607667,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1033.0783699323279,
      "return_pct": -89.66921630067672,
      "cagr_pct": -89.69596474760392,
      "max_drawdown_pct": 94.33598063017182,
      "mean_exposure_while_solvent": 1.4998798823605846,
      "realized_annual_volatility_pct": 132.30418799748807,
      "trading_costs_quote_units": 30.357217607685538,
      "borrowing_costs_quote_units": 185.78756372216327,
      "price_pnl_quote_units": -8750.776848737833,
      "turnover_quote_units": 50595.36267947581,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4133.785915816121,
      "return_pct": -58.662140841838784,
      "cagr_pct": -58.703825509537545,
      "max_drawdown_pct": 63.643301963246266,
      "mean_exposure_while_solvent": 0.6409423819287383,
      "realized_annual_volatility_pct": 45.0340908712943,
      "trading_costs_quote_units": 30.73600622114328,
      "borrowing_costs_quote_units": 51.424680234359585,
      "price_pnl_quote_units": -5784.0533977283485,
      "turnover_quote_units": 51226.67703523876,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2823.5710641163305,
      "return_pct": -71.76428935883669,
      "cagr_pct": -71.80503926571242,
      "max_drawdown_pct": 76.65150805446677,
      "mean_exposure_while_solvent": 0.865424309220439,
      "realized_annual_volatility_pct": 61.82437549273651,
      "trading_costs_quote_units": 27.451985948744277,
      "borrowing_costs_quote_units": 100.2303787815521,
      "price_pnl_quote_units": -7048.746571153367,
      "turnover_quote_units": 45753.309914573794,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2102.3540706091026,
      "return_pct": -78.97645929390897,
      "cagr_pct": -79.01387090502372,
      "max_drawdown_pct": 83.62715682168222,
      "mean_exposure_while_solvent": 1.05391113483169,
      "realized_annual_volatility_pct": 76.96207445128763,
      "trading_costs_quote_units": 30.04464860390439,
      "borrowing_costs_quote_units": 192.35984866354,
      "price_pnl_quote_units": -7675.241432123468,
      "turnover_quote_units": 50074.414339840696,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3095.019518649669,
      "return_pct": -69.04980481350331,
      "cagr_pct": -69.09123218720619,
      "max_drawdown_pct": 75.4190751992765,
      "mean_exposure_while_solvent": 0.8958974924414087,
      "realized_annual_volatility_pct": 62.06724044657568,
      "trading_costs_quote_units": 43.485411977552715,
      "borrowing_costs_quote_units": 116.7133083330159,
      "price_pnl_quote_units": -6744.781761039773,
      "turnover_quote_units": 72475.68662925453,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 351,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3263.13719114562,
      "return_pct": -67.3686280885438,
      "cagr_pct": -67.41033706989998,
      "max_drawdown_pct": 74.5297989774865,
      "mean_exposure_while_solvent": 0.8258350555306047,
      "realized_annual_volatility_pct": 61.89385749026051,
      "trading_costs_quote_units": 22.356249950209985,
      "borrowing_costs_quote_units": 73.04903764038794,
      "price_pnl_quote_units": -6641.457521263783,
      "turnover_quote_units": 37260.41658368333,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 305,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3696.7334797233643,
      "return_pct": -63.03266520276636,
      "cagr_pct": -63.07465539294325,
      "max_drawdown_pct": 69.43120965750629,
      "mean_exposure_while_solvent": 0.7787370360995287,
      "realized_annual_volatility_pct": 56.77357363052319,
      "trading_costs_quote_units": 18.259278770512264,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6285.007241506128,
      "turnover_quote_units": 30432.131284187126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4116.22027685377,
      "return_pct": -58.8377972314623,
      "cagr_pct": -58.879504752492664,
      "max_drawdown_pct": 70.01783714728853,
      "mean_exposure_while_solvent": 0.7486364927384767,
      "realized_annual_volatility_pct": 65.48050498528717,
      "trading_costs_quote_units": 13.353349208134324,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5870.4263739381,
      "turnover_quote_units": 22255.582013557214,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2783.5273406109086,
      "return_pct": -72.16472659389092,
      "cagr_pct": -72.2053519995115,
      "max_drawdown_pct": 81.63733647425958,
      "mean_exposure_while_solvent": 0.998628257887517,
      "realized_annual_volatility_pct": 87.53348519235614,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7210.476257230389,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1697.295959795285,
      "return_pct": -83.02704040204715,
      "cagr_pct": -83.06138474285389,
      "max_drawdown_pct": 89.79412961646625,
      "mean_exposure_while_solvent": 1.249055852415581,
      "realized_annual_volatility_pct": 109.79333797442452,
      "trading_costs_quote_units": 18.080522441695905,
      "borrowing_costs_quote_units": 228.56156101577017,
      "price_pnl_quote_units": -8056.061956747258,
      "turnover_quote_units": 30134.204069493233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 982.3587357406013,
      "return_pct": -90.17641264259399,
      "cagr_pct": -90.20241117678441,
      "max_drawdown_pct": 94.59843335696227,
      "mean_exposure_while_solvent": 1.4999663961822491,
      "realized_annual_volatility_pct": 132.3148001273406,
      "trading_costs_quote_units": 30.093841940534325,
      "borrowing_costs_quote_units": 364.98707663571815,
      "price_pnl_quote_units": -8622.560345683149,
      "turnover_quote_units": 50156.40323422392,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4165.487835635823,
      "return_pct": -58.34512164364176,
      "cagr_pct": -58.38676291095233,
      "max_drawdown_pct": 63.18682114460492,
      "mean_exposure_while_solvent": 0.6416085812410212,
      "realized_annual_volatility_pct": 44.70228486693444,
      "trading_costs_quote_units": 151.83598475023754,
      "borrowing_costs_quote_units": 12.629222611047934,
      "price_pnl_quote_units": -5670.046957002885,
      "turnover_quote_units": 50611.99491674591,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2830.7228025824784,
      "return_pct": -71.69277197417522,
      "cagr_pct": -71.73354343167853,
      "max_drawdown_pct": 76.39791491197853,
      "mean_exposure_while_solvent": 0.8663565733869434,
      "realized_annual_volatility_pct": 61.56102839594063,
      "trading_costs_quote_units": 137.38945952483812,
      "borrowing_costs_quote_units": 24.52538742180859,
      "price_pnl_quote_units": -7007.362350470874,
      "turnover_quote_units": 45796.486508279464,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2060.455817892001,
      "return_pct": -79.39544182108,
      "cagr_pct": -79.43258070889448,
      "max_drawdown_pct": 83.75287506284937,
      "mean_exposure_while_solvent": 1.0548685181379092,
      "realized_annual_volatility_pct": 77.08212010213752,
      "trading_costs_quote_units": 152.39374721051607,
      "borrowing_costs_quote_units": 47.0078926045233,
      "price_pnl_quote_units": -7740.142542292963,
      "turnover_quote_units": 50797.91573683871,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3034.1661467254435,
      "return_pct": -69.65833853274557,
      "cagr_pct": -69.69963855762265,
      "max_drawdown_pct": 75.70937605322733,
      "mean_exposure_while_solvent": 0.8966350066642169,
      "realized_annual_volatility_pct": 61.76091017669868,
      "trading_costs_quote_units": 209.8899227621422,
      "borrowing_costs_quote_units": 27.738022663879434,
      "price_pnl_quote_units": -6728.205907848535,
      "turnover_quote_units": 69963.30758738078,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3209.4320480689967,
      "return_pct": -67.90567951931004,
      "cagr_pct": -67.9473095427322,
      "max_drawdown_pct": 74.66558576997508,
      "mean_exposure_while_solvent": 0.8268211544155496,
      "realized_annual_volatility_pct": 62.02830195806073,
      "trading_costs_quote_units": 110.66122452895782,
      "borrowing_costs_quote_units": 18.002193335784057,
      "price_pnl_quote_units": -6661.9045340662415,
      "turnover_quote_units": 36887.074842985916,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3602.3839682370544,
      "return_pct": -63.97616031762945,
      "cagr_pct": -64.01814126551095,
      "max_drawdown_pct": 69.96393540883344,
      "mean_exposure_while_solvent": 0.7796185067376966,
      "realized_annual_volatility_pct": 56.730541090822406,
      "trading_costs_quote_units": 91.27518301186579,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6306.340848751077,
      "turnover_quote_units": 30425.061003955252,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 214,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4033.0850570862685,
      "return_pct": -59.66914942913731,
      "cagr_pct": -59.710953433340144,
      "max_drawdown_pct": 70.0411825079089,
      "mean_exposure_while_solvent": 0.7495505029241744,
      "realized_annual_volatility_pct": 65.45918436149299,
      "trading_costs_quote_units": 68.60876083393782,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5898.306182079793,
      "turnover_quote_units": 22869.586944645915,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2706.230776506846,
      "return_pct": -72.93769223493155,
      "cagr_pct": -72.97805862951382,
      "max_drawdown_pct": 81.63733647425958,
      "mean_exposure_while_solvent": 0.9995427526291722,
      "realized_annual_volatility_pct": 87.56504979876524,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7263.858954300723,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 1665.558174335637,
      "return_pct": -83.34441825664362,
      "cagr_pct": -83.37847872000172,
      "max_drawdown_pct": 89.60697977488223,
      "mean_exposure_while_solvent": 1.2497595392208423,
      "realized_annual_volatility_pct": 109.91762812348055,
      "trading_costs_quote_units": 91.6684734322637,
      "borrowing_costs_quote_units": 55.57170991406125,
      "price_pnl_quote_units": -8187.201642318059,
      "turnover_quote_units": 30556.157810754536,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 963.1695837317759,
      "return_pct": -90.36830416268225,
      "cagr_pct": -90.39401127100338,
      "max_drawdown_pct": 94.4462701836604,
      "mean_exposure_while_solvent": 1.500274722711186,
      "realized_annual_volatility_pct": 132.56047279337065,
      "trading_costs_quote_units": 151.88782471892387,
      "borrowing_costs_quote_units": 88.27890475448089,
      "price_pnl_quote_units": -8796.66368679483,
      "turnover_quote_units": 50629.274906308056,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4157.889293648473,
      "return_pct": -58.42110706351528,
      "cagr_pct": -58.46275898524429,
      "max_drawdown_pct": 63.25397450004806,
      "mean_exposure_while_solvent": 0.6416115173593661,
      "realized_annual_volatility_pct": 44.70314197581536,
      "trading_costs_quote_units": 151.78883581966804,
      "borrowing_costs_quote_units": 25.237875357783995,
      "price_pnl_quote_units": -5665.0839951740745,
      "turnover_quote_units": 50596.27860655603,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2818.411242691535,
      "return_pct": -71.81588757308465,
      "cagr_pct": -71.85662180325384,
      "max_drawdown_pct": 76.50056660357025,
      "mean_exposure_while_solvent": 0.866363607981635,
      "realized_annual_volatility_pct": 61.56246066559605,
      "trading_costs_quote_units": 137.30962201391165,
      "borrowing_costs_quote_units": 48.953235243253765,
      "price_pnl_quote_units": -6995.325900051298,
      "turnover_quote_units": 45769.87400463723,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2041.021780115193,
      "return_pct": -79.58978219884807,
      "cagr_pct": -79.62679129766137,
      "max_drawdown_pct": 83.90611651411044,
      "mean_exposure_while_solvent": 1.0548839185453411,
      "realized_annual_volatility_pct": 77.08434840475887,
      "trading_costs_quote_units": 152.10981167802066,
      "borrowing_costs_quote_units": 93.61913183457541,
      "price_pnl_quote_units": -7713.249276372217,
      "turnover_quote_units": 50703.27055934018,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3018.4831055392547,
      "return_pct": -69.81516894460745,
      "cagr_pct": -69.85643390186908,
      "max_drawdown_pct": 75.83492977618563,
      "mean_exposure_while_solvent": 0.8966433403382491,
      "realized_annual_volatility_pct": 61.76182987234924,
      "trading_costs_quote_units": 209.73024297429717,
      "borrowing_costs_quote_units": 55.34323031882053,
      "price_pnl_quote_units": -6716.4434211676435,
      "turnover_quote_units": 69910.08099143236,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3200.4051925238755,
      "return_pct": -67.99594807476124,
      "cagr_pct": -68.03756382404242,
      "max_drawdown_pct": 74.73684139843193,
      "mean_exposure_while_solvent": 0.8268258159594882,
      "realized_annual_volatility_pct": 62.02991244265803,
      "trading_costs_quote_units": 110.61785691944695,
      "borrowing_costs_quote_units": 35.959673341664285,
      "price_pnl_quote_units": -6653.0172772150245,
      "turnover_quote_units": 36872.61897314894,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3602.3839682370544,
      "return_pct": -63.97616031762945,
      "cagr_pct": -64.01814126551095,
      "max_drawdown_pct": 69.96393540883344,
      "mean_exposure_while_solvent": 0.7796185067376966,
      "realized_annual_volatility_pct": 56.730541090822406,
      "trading_costs_quote_units": 91.27518301186579,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6306.340848751077,
      "turnover_quote_units": 30425.061003955252,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 214,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4033.0850570862685,
      "return_pct": -59.66914942913731,
      "cagr_pct": -59.710953433340144,
      "max_drawdown_pct": 70.0411825079089,
      "mean_exposure_while_solvent": 0.7495505029241744,
      "realized_annual_volatility_pct": 65.45918436149299,
      "trading_costs_quote_units": 68.60876083393782,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5898.306182079793,
      "turnover_quote_units": 22869.586944645915,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2706.230776506846,
      "return_pct": -72.93769223493155,
      "cagr_pct": -72.97805862951382,
      "max_drawdown_pct": 81.63733647425958,
      "mean_exposure_while_solvent": 0.9995427526291722,
      "realized_annual_volatility_pct": 87.56504979876524,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7263.858954300723,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 1644.7561822393957,
      "return_pct": -83.55243817760605,
      "cagr_pct": -83.58630884259736,
      "max_drawdown_pct": 89.72919657417337,
      "mean_exposure_while_solvent": 1.249777406606023,
      "realized_annual_volatility_pct": 109.91998741405004,
      "trading_costs_quote_units": 91.46435739013903,
      "borrowing_costs_quote_units": 110.60628665198914,
      "price_pnl_quote_units": -8153.173173718468,
      "turnover_quote_units": 30488.119130046387,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 939.2029456862206,
      "return_pct": -90.6079705431378,
      "cagr_pct": -90.63330753651393,
      "max_drawdown_pct": 94.57647412151611,
      "mean_exposure_while_solvent": 1.5003176965304166,
      "realized_annual_volatility_pct": 132.56625106379843,
      "trading_costs_quote_units": 151.17034988337028,
      "borrowing_costs_quote_units": 174.99461695502157,
      "price_pnl_quote_units": -8734.632087475395,
      "turnover_quote_units": 50390.11662779008,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4142.729886680103,
      "return_pct": -58.57270113319897,
      "cagr_pct": -58.61437383676918,
      "max_drawdown_pct": 63.38794823423931,
      "mean_exposure_while_solvent": 0.6416173907652177,
      "realized_annual_volatility_pct": 44.70486732628101,
      "trading_costs_quote_units": 151.69468570427338,
      "borrowing_costs_quote_units": 50.39359035238633,
      "price_pnl_quote_units": -5655.181837263232,
      "turnover_quote_units": 50564.89523475776,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2793.9390091515565,
      "return_pct": -72.06060990848444,
      "cagr_pct": -72.10126831429649,
      "max_drawdown_pct": 76.70461192294152,
      "mean_exposure_while_solvent": 0.8663776799945815,
      "realized_annual_volatility_pct": 61.565342602326986,
      "trading_costs_quote_units": 137.1572881249871,
      "borrowing_costs_quote_units": 97.51775775668628,
      "price_pnl_quote_units": -6971.385944966771,
      "turnover_quote_units": 45719.09604166231,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2002.689688059793,
      "return_pct": -79.97310311940207,
      "cagr_pct": -80.00985000939686,
      "max_drawdown_pct": 84.20837307468236,
      "mean_exposure_while_solvent": 1.0549147255643094,
      "realized_annual_volatility_pct": 77.08882712206695,
      "trading_costs_quote_units": 151.55152368223278,
      "borrowing_costs_quote_units": 185.66534812720906,
      "price_pnl_quote_units": -7660.093440130763,
      "turnover_quote_units": 50517.174560744286,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2987.3483836609867,
      "return_pct": -70.12651616339014,
      "cagr_pct": -70.16770874103761,
      "max_drawdown_pct": 76.0841850193926,
      "mean_exposure_while_solvent": 0.8966600110056943,
      "realized_annual_volatility_pct": 61.76368838111481,
      "trading_costs_quote_units": 209.41836420315164,
      "borrowing_costs_quote_units": 110.1576645337794,
      "price_pnl_quote_units": -6693.075587602074,
      "turnover_quote_units": 69806.12140105055,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3182.421943805547,
      "return_pct": -68.17578056194453,
      "cagr_pct": -68.21736700702341,
      "max_drawdown_pct": 74.87879644387552,
      "mean_exposure_while_solvent": 0.8268351409920608,
      "realized_annual_volatility_pct": 62.03314669121054,
      "trading_costs_quote_units": 110.53314811058489,
      "borrowing_costs_quote_units": 71.74089484565928,
      "price_pnl_quote_units": -6635.304013238209,
      "turnover_quote_units": 36844.38270352826,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3602.3839682370544,
      "return_pct": -63.97616031762945,
      "cagr_pct": -64.01814126551095,
      "max_drawdown_pct": 69.96393540883344,
      "mean_exposure_while_solvent": 0.7796185067376966,
      "realized_annual_volatility_pct": 56.730541090822406,
      "trading_costs_quote_units": 91.27518301186579,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6306.340848751077,
      "turnover_quote_units": 30425.061003955252,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 214,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4033.0850570862685,
      "return_pct": -59.66914942913731,
      "cagr_pct": -59.710953433340144,
      "max_drawdown_pct": 70.0411825079089,
      "mean_exposure_while_solvent": 0.7495505029241744,
      "realized_annual_volatility_pct": 65.45918436149299,
      "trading_costs_quote_units": 68.60876083393782,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5898.306182079793,
      "turnover_quote_units": 22869.586944645915,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2706.230776506846,
      "return_pct": -72.93769223493155,
      "cagr_pct": -72.97805862951382,
      "max_drawdown_pct": 81.63733647425958,
      "mean_exposure_while_solvent": 0.9995427526291722,
      "realized_annual_volatility_pct": 87.56504979876524,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7263.858954300723,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 1603.9185217252077,
      "return_pct": -83.96081478274793,
      "cagr_pct": -83.99430407547936,
      "max_drawdown_pct": 89.96939379236773,
      "mean_exposure_while_solvent": 1.2498131468901341,
      "realized_annual_volatility_pct": 109.92470732479399,
      "trading_costs_quote_units": 91.06224983601888,
      "borrowing_costs_quote_units": 219.0872893102504,
      "price_pnl_quote_units": -8085.931939128525,
      "turnover_quote_units": 30354.08327867289,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 893.0303769321015,
      "return_pct": -91.06969623067899,
      "cagr_pct": -91.09430036430246,
      "max_drawdown_pct": 94.82787022811682,
      "mean_exposure_while_solvent": 1.5004036628935762,
      "realized_annual_volatility_pct": 132.57781200483038,
      "trading_costs_quote_units": 149.7662723993961,
      "borrowing_costs_quote_units": 343.86751771923133,
      "price_pnl_quote_units": -8613.335832949262,
      "turnover_quote_units": 49922.09079979871,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4088.2068815995817,
      "return_pct": -59.11793118400419,
      "cagr_pct": -59.15967337810437,
      "max_drawdown_pct": 63.99885711487065,
      "mean_exposure_while_solvent": 0.6409335657069808,
      "realized_annual_volatility_pct": 45.0474170899314,
      "trading_costs_quote_units": 152.68766961414283,
      "borrowing_costs_quote_units": 12.72749280267393,
      "price_pnl_quote_units": -5746.377955983594,
      "turnover_quote_units": 50895.88987138095,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2813.945897708414,
      "return_pct": -71.86054102291585,
      "cagr_pct": -71.90126159930801,
      "max_drawdown_pct": 76.69171966717154,
      "mean_exposure_while_solvent": 0.865403227318234,
      "realized_annual_volatility_pct": 61.8304160039898,
      "trading_costs_quote_units": 136.56541568137757,
      "borrowing_costs_quote_units": 24.91073313860726,
      "price_pnl_quote_units": -7024.577953471612,
      "turnover_quote_units": 45521.80522712586,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2120.2696825767284,
      "return_pct": -78.79730317423271,
      "cagr_pct": -78.83482848130768,
      "max_drawdown_pct": 83.45384077335581,
      "mean_exposure_while_solvent": 1.053864636764787,
      "realized_annual_volatility_pct": 76.9552250264577,
      "trading_costs_quote_units": 149.8071980676371,
      "borrowing_costs_quote_units": 48.08380523694548,
      "price_pnl_quote_units": -7681.839314118671,
      "turnover_quote_units": 49935.732689212295,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3061.1129646233235,
      "return_pct": -69.38887035376676,
      "cagr_pct": -69.43022847347903,
      "max_drawdown_pct": 75.63919069464839,
      "mean_exposure_while_solvent": 0.8958724471577427,
      "realized_annual_volatility_pct": 62.066031763722364,
      "trading_costs_quote_units": 215.4660023942489,
      "borrowing_costs_quote_units": 28.813951944703827,
      "price_pnl_quote_units": -6694.607081037728,
      "turnover_quote_units": 71822.00079808304,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 351,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3250.602929064032,
      "return_pct": -67.49397070935967,
      "cagr_pct": -67.53566217179008,
      "max_drawdown_pct": 74.58550547538032,
      "mean_exposure_while_solvent": 0.8258211469899759,
      "realized_annual_volatility_pct": 61.89464155145337,
      "trading_costs_quote_units": 111.3070821666304,
      "borrowing_costs_quote_units": 18.165680270102385,
      "price_pnl_quote_units": -6619.924308499234,
      "turnover_quote_units": 37102.36072221018,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 305,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3661.445967259438,
      "return_pct": -63.38554032740562,
      "cagr_pct": -63.42753031843118,
      "max_drawdown_pct": 69.67176622056346,
      "mean_exposure_while_solvent": 0.7787370360995287,
      "realized_annual_volatility_pct": 56.76957459671902,
      "trading_costs_quote_units": 90.89616996404506,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6247.657862776498,
      "turnover_quote_units": 30298.72332134837,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4087.806346016505,
      "return_pct": -59.12193653983495,
      "cagr_pct": -59.163679213827905,
      "max_drawdown_pct": 70.16030629909197,
      "mean_exposure_while_solvent": 0.7486364927384767,
      "realized_annual_volatility_pct": 65.48071632427519,
      "trading_costs_quote_units": 66.54058860940415,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5845.653065374076,
      "turnover_quote_units": 22180.196203134696,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2776.8668564459376,
      "return_pct": -72.23133143554062,
      "cagr_pct": -72.27193549740214,
      "max_drawdown_pct": 81.6373364742596,
      "mean_exposure_while_solvent": 0.998628257887517,
      "realized_annual_volatility_pct": 87.53382097518528,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7193.222874361643,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1742.0559848097528,
      "return_pct": -82.57944015190247,
      "cagr_pct": -82.6141733658038,
      "max_drawdown_pct": 89.51018022401956,
      "mean_exposure_while_solvent": 1.2490019526280711,
      "realized_annual_volatility_pct": 109.78851626324415,
      "trading_costs_quote_units": 90.50969139177528,
      "borrowing_costs_quote_units": 57.56481590577642,
      "price_pnl_quote_units": -8109.869507892702,
      "turnover_quote_units": 30169.897130591766,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1033.7901904967193,
      "return_pct": -89.6620980950328,
      "cagr_pct": -89.68885686114078,
      "max_drawdown_pct": 94.31181090649515,
      "mean_exposure_while_solvent": 1.49983663500404,
      "realized_annual_volatility_pct": 132.3040832072113,
      "trading_costs_quote_units": 151.19112508475652,
      "borrowing_costs_quote_units": 92.52398478094568,
      "price_pnl_quote_units": -8722.494699637586,
      "turnover_quote_units": 50397.04169491879,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4080.7368609320556,
      "return_pct": -59.19263139067945,
      "cagr_pct": -59.23438246099851,
      "max_drawdown_pct": 64.06463883511991,
      "mean_exposure_while_solvent": 0.6409365040581481,
      "realized_annual_volatility_pct": 45.04827211050242,
      "trading_costs_quote_units": 152.64171552281502,
      "borrowing_costs_quote_units": 25.434282022149407,
      "price_pnl_quote_units": -5741.187141522976,
      "turnover_quote_units": 50880.57184093832,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2801.6897818073103,
      "return_pct": -71.9831021819269,
      "cagr_pct": -72.0237848663978,
      "max_drawdown_pct": 76.7932386713028,
      "mean_exposure_while_solvent": 0.8654102536793782,
      "realized_annual_volatility_pct": 61.83199236416277,
      "trading_costs_quote_units": 136.48371356509773,
      "borrowing_costs_quote_units": 49.722656609328936,
      "price_pnl_quote_units": -7012.10384801826,
      "turnover_quote_units": 45494.57118836594,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2100.2685188835962,
      "return_pct": -78.99731481116403,
      "cagr_pct": -79.03471307401553,
      "max_drawdown_pct": 83.60992584211108,
      "mean_exposure_while_solvent": 1.053880134011944,
      "realized_annual_volatility_pct": 76.95723809723408,
      "trading_costs_quote_units": 149.54560572714223,
      "borrowing_costs_quote_units": 95.76142170960668,
      "price_pnl_quote_units": -7654.424453679662,
      "turnover_quote_units": 49848.535242380785,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3045.2855225236435,
      "return_pct": -69.54714477476355,
      "cagr_pct": -69.58846910175163,
      "max_drawdown_pct": 75.76514792106825,
      "mean_exposure_while_solvent": 0.895880794475378,
      "realized_annual_volatility_pct": 62.06698212316112,
      "trading_costs_quote_units": 215.31063749201778,
      "borrowing_costs_quote_units": 57.49010392222506,
      "price_pnl_quote_units": -6681.913736062116,
      "turnover_quote_units": 71770.21249733922,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 351,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3241.4541362467817,
      "return_pct": -67.58545863753218,
      "cagr_pct": -67.62713696453403,
      "max_drawdown_pct": 74.65703434249662,
      "mean_exposure_while_solvent": 0.825825782528795,
      "realized_annual_volatility_pct": 61.89618781782733,
      "trading_costs_quote_units": 111.26720541349748,
      "borrowing_costs_quote_units": 36.28649748581328,
      "price_pnl_quote_units": -6610.992160853915,
      "turnover_quote_units": 37089.068471165854,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 305,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3661.445967259438,
      "return_pct": -63.38554032740562,
      "cagr_pct": -63.42753031843118,
      "max_drawdown_pct": 69.67176622056346,
      "mean_exposure_while_solvent": 0.7787370360995287,
      "realized_annual_volatility_pct": 56.76957459671902,
      "trading_costs_quote_units": 90.89616996404506,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6247.657862776498,
      "turnover_quote_units": 30298.72332134837,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4087.806346016505,
      "return_pct": -59.12193653983495,
      "cagr_pct": -59.163679213827905,
      "max_drawdown_pct": 70.16030629909197,
      "mean_exposure_while_solvent": 0.7486364927384767,
      "realized_annual_volatility_pct": 65.48071632427519,
      "trading_costs_quote_units": 66.54058860940415,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5845.653065374076,
      "turnover_quote_units": 22180.196203134696,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2776.8668564459376,
      "return_pct": -72.23133143554062,
      "cagr_pct": -72.27193549740214,
      "max_drawdown_pct": 81.6373364742596,
      "mean_exposure_while_solvent": 0.998628257887517,
      "realized_annual_volatility_pct": 87.53382097518528,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7193.222874361643,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1720.3152777761734,
      "return_pct": -82.79684722223827,
      "cagr_pct": -82.83139321406631,
      "max_drawdown_pct": 89.63356768969271,
      "mean_exposure_while_solvent": 1.2490199173512138,
      "realized_annual_volatility_pct": 109.79070888015066,
      "trading_costs_quote_units": 90.33222946187061,
      "borrowing_costs_quote_units": 114.57124104931452,
      "price_pnl_quote_units": -8074.7812517126295,
      "turnover_quote_units": 30110.743153956893,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1008.0881226397255,
      "return_pct": -89.91911877360275,
      "cagr_pct": -89.94550136652292,
      "max_drawdown_pct": 94.4451957335661,
      "mean_exposure_while_solvent": 1.4998798823605846,
      "realized_annual_volatility_pct": 132.30944454529268,
      "trading_costs_quote_units": 150.53090213194452,
      "borrowing_costs_quote_units": 183.39360540066517,
      "price_pnl_quote_units": -8657.987369827668,
      "turnover_quote_units": 50176.96737731479,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4065.833923756503,
      "return_pct": -59.34166076243497,
      "cagr_pct": -59.383429074189806,
      "max_drawdown_pct": 64.19587553282227,
      "mean_exposure_while_solvent": 0.6409423819287383,
      "realized_annual_volatility_pct": 45.04999319820807,
      "trading_costs_quote_units": 152.5499372569466,
      "borrowing_costs_quote_units": 50.78586943446078,
      "price_pnl_quote_units": -5730.830269552095,
      "turnover_quote_units": 50849.97908564885,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2777.33120146518,
      "return_pct": -72.22668798534819,
      "cagr_pct": -72.26729354112952,
      "max_drawdown_pct": 76.99500396451133,
      "mean_exposure_while_solvent": 0.865424309220439,
      "realized_annual_volatility_pct": 61.83516248220297,
      "trading_costs_quote_units": 136.3209069409831,
      "borrowing_costs_quote_units": 99.05160261828027,
      "price_pnl_quote_units": -6987.296288975543,
      "turnover_quote_units": 45440.30231366102,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2060.8178962830752,
      "return_pct": -79.39182103716924,
      "cagr_pct": -79.42896232318846,
      "max_drawdown_pct": 83.91779058615873,
      "mean_exposure_while_solvent": 1.05391113483169,
      "realized_annual_volatility_pct": 76.96128754502624,
      "trading_costs_quote_units": 149.0315962042947,
      "borrowing_costs_quote_units": 189.9120453927263,
      "price_pnl_quote_units": -7600.238462119922,
      "turnover_quote_units": 49677.19873476488,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 335,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3013.867699093125,
      "return_pct": -69.86132300906876,
      "cagr_pct": -69.9025774692042,
      "max_drawdown_pct": 76.01517580773077,
      "mean_exposure_while_solvent": 0.8958974924414087,
      "realized_annual_volatility_pct": 62.06890138814529,
      "trading_costs_quote_units": 215.00123916414435,
      "borrowing_costs_quote_units": 114.43161878316178,
      "price_pnl_quote_units": -6656.699442959576,
      "turnover_quote_units": 71667.07972138147,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 351,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3223.2288987212587,
      "return_pct": -67.76771101278742,
      "cagr_pct": -67.80936229321759,
      "max_drawdown_pct": 74.79952643070614,
      "mean_exposure_while_solvent": 0.8258350555306047,
      "realized_annual_volatility_pct": 61.8992940186271,
      "trading_costs_quote_units": 111.18758284015236,
      "borrowing_costs_quote_units": 72.39395649813034,
      "price_pnl_quote_units": -6593.189561940461,
      "turnover_quote_units": 37062.52761338417,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 305,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3661.445967259438,
      "return_pct": -63.38554032740562,
      "cagr_pct": -63.42753031843118,
      "max_drawdown_pct": 69.67176622056346,
      "mean_exposure_while_solvent": 0.7787370360995287,
      "realized_annual_volatility_pct": 56.76957459671902,
      "trading_costs_quote_units": 90.89616996404506,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6247.657862776498,
      "turnover_quote_units": 30298.72332134837,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 213,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4087.806346016505,
      "return_pct": -59.12193653983495,
      "cagr_pct": -59.163679213827905,
      "max_drawdown_pct": 70.16030629909197,
      "mean_exposure_while_solvent": 0.7486364927384767,
      "realized_annual_volatility_pct": 65.48071632427519,
      "trading_costs_quote_units": 66.54058860940415,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5845.653065374076,
      "turnover_quote_units": 22180.196203134696,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2776.8668564459376,
      "return_pct": -72.23133143554062,
      "cagr_pct": -72.27193549740214,
      "max_drawdown_pct": 81.6373364742596,
      "mean_exposure_while_solvent": 0.998628257887517,
      "realized_annual_volatility_pct": 87.53382097518528,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7193.222874361643,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1677.6339515380582,
      "return_pct": -83.22366048461942,
      "cagr_pct": -83.25782976557716,
      "max_drawdown_pct": 89.8760620229338,
      "mean_exposure_while_solvent": 1.249055852415581,
      "realized_annual_volatility_pct": 109.79509535238738,
      "trading_costs_quote_units": 89.98199628522333,
      "borrowing_costs_quote_units": 226.93311116091073,
      "price_pnl_quote_units": -8005.450941015794,
      "turnover_quote_units": 29993.99876174107,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 958.5703163848133,
      "return_pct": -90.41429683615186,
      "cagr_pct": -90.43993345091404,
      "max_drawdown_pct": 94.70272833432392,
      "mean_exposure_while_solvent": 1.4999663961822491,
      "realized_annual_volatility_pct": 132.32017133239984,
      "trading_costs_quote_units": 149.23670528470976,
      "borrowing_costs_quote_units": 360.308880395802,
      "price_pnl_quote_units": -8531.884097934673,
      "turnover_quote_units": 49745.568428236555,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3042.5651097350938,
      "return_pct": -69.57434890264906,
      "cagr_pct": -69.61566732690034,
      "max_drawdown_pct": 75.649331021749,
      "mean_exposure_while_solvent": 0.7707361684510627,
      "realized_annual_volatility_pct": 71.85752923355999,
      "trading_costs_quote_units": 28.818276490185223,
      "borrowing_costs_quote_units": 1.0248336717196145,
      "price_pnl_quote_units": -6927.591780103016,
      "turnover_quote_units": 48030.46081697536,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2538.0171578227337,
      "return_pct": -74.61982842177267,
      "cagr_pct": -74.65954302389856,
      "max_drawdown_pct": 80.4309477994365,
      "mean_exposure_while_solvent": 0.9383254856249661,
      "realized_annual_volatility_pct": 78.87092330412737,
      "trading_costs_quote_units": 26.68897852810897,
      "borrowing_costs_quote_units": 9.023206348916462,
      "price_pnl_quote_units": -7426.270657300256,
      "turnover_quote_units": 44481.63088018164,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2083.510262397044,
      "return_pct": -79.16489737602956,
      "cagr_pct": -79.2021875201097,
      "max_drawdown_pct": 84.54412579131233,
      "mean_exposure_while_solvent": 1.0820084963476257,
      "realized_annual_volatility_pct": 86.95988448125705,
      "trading_costs_quote_units": 27.295576769991115,
      "borrowing_costs_quote_units": 27.951959007502328,
      "price_pnl_quote_units": -7861.2422018254765,
      "turnover_quote_units": 45492.627949985224,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2905.026972074498,
      "return_pct": -70.94973027925502,
      "cagr_pct": -70.99071352974565,
      "max_drawdown_pct": 78.14091794524604,
      "mean_exposure_while_solvent": 0.9203026450999349,
      "realized_annual_volatility_pct": 72.56217579752439,
      "trading_costs_quote_units": 47.778931699501825,
      "borrowing_costs_quote_units": 19.259602394862828,
      "price_pnl_quote_units": -7027.934493831137,
      "turnover_quote_units": 79631.552832503,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 288,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2426.6655575930104,
      "return_pct": -75.7333444240699,
      "cagr_pct": -75.77255803480266,
      "max_drawdown_pct": 82.46997928781103,
      "mean_exposure_while_solvent": 0.9594226434707412,
      "realized_annual_volatility_pct": 85.91005894595534,
      "trading_costs_quote_units": 12.859160357456654,
      "borrowing_costs_quote_units": 3.539991196864332,
      "price_pnl_quote_units": -7556.9352908526635,
      "turnover_quote_units": 21431.933929094423,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 129,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2627.9015874380334,
      "return_pct": -73.72098412561967,
      "cagr_pct": -73.76106232920796,
      "max_drawdown_pct": 79.73790555985265,
      "mean_exposure_while_solvent": 0.9004169628342108,
      "realized_annual_volatility_pct": 77.54245527022012,
      "trading_costs_quote_units": 20.131220560589647,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7351.9671920013725,
      "turnover_quote_units": 33552.034267649426,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 136,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4084.73440795487,
      "return_pct": -59.152655920451295,
      "cagr_pct": -59.194402260111865,
      "max_drawdown_pct": 69.54769342619214,
      "mean_exposure_while_solvent": 0.7495883379838686,
      "realized_annual_volatility_pct": 65.96868199159482,
      "trading_costs_quote_units": 13.930177365432536,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5901.335414679706,
      "turnover_quote_units": 23216.962275720918,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2727.0332690348105,
      "return_pct": -72.72966730965189,
      "cagr_pct": -72.77010586022269,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9995400183992639,
      "realized_annual_volatility_pct": 88.19618365369065,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7266.970328806484,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 1692.8172191348872,
      "return_pct": -83.07182780865112,
      "cagr_pct": -83.10613250285411,
      "max_drawdown_pct": 89.40363417410484,
      "mean_exposure_while_solvent": 1.2496914681878033,
      "realized_annual_volatility_pct": 110.6191180451113,
      "trading_costs_quote_units": 18.63309346352322,
      "borrowing_costs_quote_units": 55.95954086010525,
      "price_pnl_quote_units": -8232.590146541508,
      "turnover_quote_units": 31055.155772538685,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 989.8553919048793,
      "return_pct": -90.1014460809512,
      "cagr_pct": -90.1275573011393,
      "max_drawdown_pct": 94.28556929402454,
      "mean_exposure_while_solvent": 1.500116535769126,
      "realized_annual_volatility_pct": 133.28190984193748,
      "trading_costs_quote_units": 31.02385787742729,
      "borrowing_costs_quote_units": 88.81011931002804,
      "price_pnl_quote_units": -8890.310630907672,
      "turnover_quote_units": 51706.4297957122,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3042.014006109631,
      "return_pct": -69.5798599389037,
      "cagr_pct": -69.62117716399105,
      "max_drawdown_pct": 75.65374168889083,
      "mean_exposure_while_solvent": 0.7707364099617232,
      "realized_annual_volatility_pct": 71.85755256447767,
      "trading_costs_quote_units": 28.817848487999203,
      "borrowing_costs_quote_units": 2.0496237149455148,
      "price_pnl_quote_units": -6927.118521687449,
      "turnover_quote_units": 48029.747479998674,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2533.2051956394944,
      "return_pct": -74.66794804360507,
      "cagr_pct": -74.70764216676376,
      "max_drawdown_pct": 80.46804980990191,
      "mean_exposure_while_solvent": 0.9383283859130824,
      "realized_annual_volatility_pct": 78.87099357234601,
      "trading_costs_quote_units": 26.682338952510726,
      "borrowing_costs_quote_units": 18.030910414326335,
      "price_pnl_quote_units": -7422.081554993674,
      "turnover_quote_units": 44470.5649208512,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2069.915175159611,
      "return_pct": -79.3008482484039,
      "cagr_pct": -79.33804955175273,
      "max_drawdown_pct": 84.64497672638578,
      "mean_exposure_while_solvent": 1.0820190246730645,
      "realized_annual_volatility_pct": 86.96086966676478,
      "trading_costs_quote_units": 27.26065307169494,
      "borrowing_costs_quote_units": 55.74051081151342,
      "price_pnl_quote_units": -7847.083660957184,
      "turnover_quote_units": 45434.4217861582,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2894.2797917852304,
      "return_pct": -71.0572020821477,
      "cagr_pct": -71.0981560549719,
      "max_drawdown_pct": 78.2217858676642,
      "mean_exposure_while_solvent": 0.9203087396322421,
      "realized_annual_volatility_pct": 72.56301206175628,
      "trading_costs_quote_units": 47.7498834312292,
      "borrowing_costs_quote_units": 38.454168297275494,
      "price_pnl_quote_units": -7019.516156486269,
      "turnover_quote_units": 79583.13905204872,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 288,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2424.661542943146,
      "return_pct": -75.75338457056854,
      "cagr_pct": -75.79258863839908,
      "max_drawdown_pct": 82.4844561151636,
      "mean_exposure_while_solvent": 0.9594237903687253,
      "realized_annual_volatility_pct": 85.91004038410094,
      "trading_costs_quote_units": 12.857110742590738,
      "borrowing_costs_quote_units": 7.077565403112231,
      "price_pnl_quote_units": -7555.403780911133,
      "turnover_quote_units": 21428.517904317916,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 129,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2627.9015874380334,
      "return_pct": -73.72098412561967,
      "cagr_pct": -73.76106232920796,
      "max_drawdown_pct": 79.73790555985265,
      "mean_exposure_while_solvent": 0.9004169628342108,
      "realized_annual_volatility_pct": 77.54245527022012,
      "trading_costs_quote_units": 20.131220560589647,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7351.9671920013725,
      "turnover_quote_units": 33552.034267649426,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 136,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4084.73440795487,
      "return_pct": -59.152655920451295,
      "cagr_pct": -59.194402260111865,
      "max_drawdown_pct": 69.54769342619214,
      "mean_exposure_while_solvent": 0.7495883379838686,
      "realized_annual_volatility_pct": 65.96868199159482,
      "trading_costs_quote_units": 13.930177365432536,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5901.335414679706,
      "turnover_quote_units": 23216.962275720918,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2727.0332690348105,
      "return_pct": -72.72966730965189,
      "cagr_pct": -72.77010586022269,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9995400183992639,
      "realized_annual_volatility_pct": 88.19618365369065,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7266.970328806484,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 1671.6759057427787,
      "return_pct": -83.2832409425722,
      "cagr_pct": -83.31735665861463,
      "max_drawdown_pct": 89.52823674060855,
      "mean_exposure_while_solvent": 1.2497097741340584,
      "realized_annual_volatility_pct": 110.62151463004419,
      "trading_costs_quote_units": 18.591127664137172,
      "borrowing_costs_quote_units": 111.37578067255019,
      "price_pnl_quote_units": -8198.35718592053,
      "turnover_quote_units": 30985.212773561936,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 965.2265707955726,
      "return_pct": -90.34773429204428,
      "cagr_pct": -90.37347284694688,
      "max_drawdown_pct": 94.41953404589,
      "mean_exposure_while_solvent": 1.5001605567243284,
      "realized_annual_volatility_pct": 133.28776878578202,
      "trading_costs_quote_units": 30.87672426745162,
      "borrowing_costs_quote_units": 176.03611600761818,
      "price_pnl_quote_units": -8827.860588929358,
      "turnover_quote_units": 51461.20711241936,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3040.911869923103,
      "return_pct": -69.59088130076897,
      "cagr_pct": -69.6321961242633,
      "max_drawdown_pct": 75.66256245442226,
      "mean_exposure_while_solvent": 0.770736893048525,
      "realized_annual_volatility_pct": 71.8575995733637,
      "trading_costs_quote_units": 28.81699248670903,
      "borrowing_costs_quote_units": 4.099072825523847,
      "price_pnl_quote_units": -6926.172064764682,
      "turnover_quote_units": 48028.32081118171,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2523.6061231738868,
      "return_pct": -74.76393876826113,
      "cagr_pct": -74.8035917273574,
      "max_drawdown_pct": 80.54206221347353,
      "mean_exposure_while_solvent": 0.9383341875324117,
      "realized_annual_volatility_pct": 78.87113926723292,
      "trading_costs_quote_units": 26.669451686468967,
      "borrowing_costs_quote_units": 35.99990758217256,
      "price_pnl_quote_units": -7413.72451755747,
      "turnover_quote_units": 44449.08614411493,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2042.9835414740726,
      "return_pct": -79.57016458525928,
      "cagr_pct": -79.60718688107377,
      "max_drawdown_pct": 84.8447606919321,
      "mean_exposure_while_solvent": 1.0820400854501426,
      "realized_annual_volatility_pct": 86.9628549340423,
      "trading_costs_quote_units": 27.19152560146894,
      "borrowing_costs_quote_units": 110.83134319820908,
      "price_pnl_quote_units": -7818.993589726245,
      "turnover_quote_units": 45319.209335781634,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2872.8986404912735,
      "return_pct": -71.27101359508727,
      "cagr_pct": -71.31190796436711,
      "max_drawdown_pct": 78.38266986118731,
      "mean_exposure_while_solvent": 0.920320931370852,
      "realized_annual_volatility_pct": 72.56469743944875,
      "trading_costs_quote_units": 47.69237080446777,
      "borrowing_costs_quote_units": 76.64904552289741,
      "price_pnl_quote_units": -7002.7599431813705,
      "turnover_quote_units": 79487.28467411292,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 288,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2420.6576164553007,
      "return_pct": -75.79342383544699,
      "cagr_pct": -75.8326087803684,
      "max_drawdown_pct": 82.51338013151285,
      "mean_exposure_while_solvent": 0.9594260845021457,
      "realized_annual_volatility_pct": 85.9100046241234,
      "trading_costs_quote_units": 12.853014589436475,
      "borrowing_costs_quote_units": 14.145467819855245,
      "price_pnl_quote_units": -7552.343901135425,
      "turnover_quote_units": 21421.690982394142,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 129,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2627.9015874380334,
      "return_pct": -73.72098412561967,
      "cagr_pct": -73.76106232920796,
      "max_drawdown_pct": 79.73790555985265,
      "mean_exposure_while_solvent": 0.9004169628342108,
      "realized_annual_volatility_pct": 77.54245527022012,
      "trading_costs_quote_units": 20.131220560589647,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7351.9671920013725,
      "turnover_quote_units": 33552.034267649426,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 136,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4084.73440795487,
      "return_pct": -59.152655920451295,
      "cagr_pct": -59.194402260111865,
      "max_drawdown_pct": 69.54769342619214,
      "mean_exposure_while_solvent": 0.7495883379838686,
      "realized_annual_volatility_pct": 65.96868199159482,
      "trading_costs_quote_units": 13.930177365432536,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5901.335414679706,
      "turnover_quote_units": 23216.962275720918,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2727.0332690348105,
      "return_pct": -72.72966730965189,
      "cagr_pct": -72.77010586022269,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9995400183992639,
      "realized_annual_volatility_pct": 88.19618365369065,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7266.970328806484,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 1630.172415907882,
      "return_pct": -83.69827584092118,
      "cagr_pct": -83.73201165511519,
      "max_drawdown_pct": 89.77312041397909,
      "mean_exposure_while_solvent": 1.2497463919875402,
      "realized_annual_volatility_pct": 110.62630929175799,
      "trading_costs_quote_units": 18.508560487404242,
      "borrowing_costs_quote_units": 220.60194345629426,
      "price_pnl_quote_units": -8130.717080148398,
      "turnover_quote_units": 30847.600812340428,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 917.7786149533229,
      "return_pct": -90.82221385046677,
      "cagr_pct": -90.8472140908722,
      "max_drawdown_pct": 94.6781888109846,
      "mean_exposure_while_solvent": 1.5002486188680688,
      "realized_annual_volatility_pct": 133.2994915484974,
      "trading_costs_quote_units": 30.58886792963528,
      "borrowing_costs_quote_units": 345.8692011723377,
      "price_pnl_quote_units": -8705.763315944716,
      "turnover_quote_units": 50981.44654939218,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2852.9089393032805,
      "return_pct": -71.4709106069672,
      "cagr_pct": -71.51174760853525,
      "max_drawdown_pct": 76.00683636495978,
      "mean_exposure_while_solvent": 0.770122932216365,
      "realized_annual_volatility_pct": 71.66399159728071,
      "trading_costs_quote_units": 27.69581991334218,
      "borrowing_costs_quote_units": 0.9807327731194587,
      "price_pnl_quote_units": -7118.41450801025,
      "turnover_quote_units": 46159.699855570296,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2429.1175435862747,
      "return_pct": -75.70882456413726,
      "cagr_pct": -75.74804982526649,
      "max_drawdown_pct": 80.45999108900459,
      "mean_exposure_while_solvent": 0.9377044514134631,
      "realized_annual_volatility_pct": 78.68391750504537,
      "trading_costs_quote_units": 25.67724976509534,
      "borrowing_costs_quote_units": 8.703873683837385,
      "price_pnl_quote_units": -7536.501332964768,
      "turnover_quote_units": 42795.41627515885,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2035.45105331013,
      "return_pct": -79.6454894668987,
      "cagr_pct": -79.68246097338256,
      "max_drawdown_pct": 84.42279213040536,
      "mean_exposure_while_solvent": 1.0814205252575553,
      "realized_annual_volatility_pct": 86.74974277124234,
      "trading_costs_quote_units": 25.959620097775645,
      "borrowing_costs_quote_units": 27.20008385967007,
      "price_pnl_quote_units": -7911.389242732432,
      "turnover_quote_units": 43266.03349629271,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2962.2190514575263,
      "return_pct": -70.37780948542473,
      "cagr_pct": -70.41894094408589,
      "max_drawdown_pct": 76.6832009180713,
      "mean_exposure_while_solvent": 0.9197583770357112,
      "realized_annual_volatility_pct": 72.56790947966248,
      "trading_costs_quote_units": 48.42729387635199,
      "borrowing_costs_quote_units": 19.46268807028482,
      "price_pnl_quote_units": -6969.890966595839,
      "turnover_quote_units": 80712.15646058667,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 289,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2351.018400504112,
      "return_pct": -76.48981599495887,
      "cagr_pct": -76.52865613718942,
      "max_drawdown_pct": 82.42643361210102,
      "mean_exposure_while_solvent": 0.9585154568368618,
      "realized_annual_volatility_pct": 85.59180600352212,
      "trading_costs_quote_units": 12.789557599517513,
      "borrowing_costs_quote_units": 3.4455984812424085,
      "price_pnl_quote_units": -7632.746443415131,
      "turnover_quote_units": 21315.92933252918,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 130,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2496.669967288067,
      "return_pct": -75.03330032711933,
      "cagr_pct": -75.07283554387807,
      "max_drawdown_pct": 79.9165941815237,
      "mean_exposure_while_solvent": 0.8996521618381316,
      "realized_annual_volatility_pct": 77.34212790297809,
      "trading_costs_quote_units": 19.200338422972095,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7484.129694288959,
      "turnover_quote_units": 32000.564038286837,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 136,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4123.660815855492,
      "return_pct": -58.76339184144508,
      "cagr_pct": -58.805089786465004,
      "max_drawdown_pct": 69.76564738078011,
      "mean_exposure_while_solvent": 0.7486497268700313,
      "realized_annual_volatility_pct": 65.97917493322338,
      "trading_costs_quote_units": 13.512234764274275,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5862.826949380231,
      "turnover_quote_units": 22520.391273790443,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2793.5982428056573,
      "return_pct": -72.06401757194342,
      "cagr_pct": -72.10467490470411,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.998620055197792,
      "realized_annual_volatility_pct": 88.15850964401932,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7200.405355035615,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1773.2615969813228,
      "return_pct": -82.26738403018678,
      "cagr_pct": -82.3023805723395,
      "max_drawdown_pct": 89.2558002903449,
      "mean_exposure_while_solvent": 1.2489562515003692,
      "realized_annual_volatility_pct": 110.50504337899727,
      "trading_costs_quote_units": 18.43337521092681,
      "borrowing_costs_quote_units": 58.09780845535201,
      "price_pnl_quote_units": -8150.207219352403,
      "turnover_quote_units": 30722.292018211374,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1069.4825978535196,
      "return_pct": -89.30517402146481,
      "cagr_pct": -89.33244312879846,
      "max_drawdown_pct": 94.07976814340824,
      "mean_exposure_while_solvent": 1.4997347609612908,
      "realized_annual_volatility_pct": 133.0667949273334,
      "trading_costs_quote_units": 31.017761002917997,
      "borrowing_costs_quote_units": 93.7666599713023,
      "price_pnl_quote_units": -8805.732981172285,
      "turnover_quote_units": 51696.26833819674,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2852.3924467614497,
      "return_pct": -71.47607553238551,
      "cagr_pct": -71.51691103054519,
      "max_drawdown_pct": 76.01118010334613,
      "mean_exposure_while_solvent": 0.7701231772038799,
      "realized_annual_volatility_pct": 71.6640181192796,
      "trading_costs_quote_units": 27.695412287251393,
      "borrowing_costs_quote_units": 1.9614221571917803,
      "price_pnl_quote_units": -7117.9507187940935,
      "turnover_quote_units": 46159.02047875233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2424.5158215535594,
      "return_pct": -75.75484178446442,
      "cagr_pct": -75.79404515764813,
      "max_drawdown_pct": 80.49700769602823,
      "mean_exposure_while_solvent": 0.9377073478339044,
      "realized_annual_volatility_pct": 78.68400096624258,
      "trading_costs_quote_units": 25.669251520369745,
      "borrowing_costs_quote_units": 17.392741985658823,
      "price_pnl_quote_units": -7532.422184940408,
      "turnover_quote_units": 42782.085867282876,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2022.172901698767,
      "return_pct": -79.77827098301233,
      "cagr_pct": -79.81515218343242,
      "max_drawdown_pct": 84.52440917859614,
      "mean_exposure_while_solvent": 1.0814310875336026,
      "realized_annual_volatility_pct": 86.75062414739023,
      "trading_costs_quote_units": 25.92851737514469,
      "borrowing_costs_quote_units": 54.24047992716761,
      "price_pnl_quote_units": -7897.6581009989195,
      "turnover_quote_units": 43214.19562524113,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2951.2941729583636,
      "return_pct": -70.48705827041637,
      "cagr_pct": -70.52816239992072,
      "max_drawdown_pct": 76.7691949625813,
      "mean_exposure_while_solvent": 0.9197642184177367,
      "realized_annual_volatility_pct": 72.5686983175441,
      "trading_costs_quote_units": 48.394308733463994,
      "borrowing_costs_quote_units": 38.859367202621485,
      "price_pnl_quote_units": -6961.452151105543,
      "turnover_quote_units": 80657.18122243996,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 289,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2349.077202291766,
      "return_pct": -76.50922797708233,
      "cagr_pct": -76.54805817377368,
      "max_drawdown_pct": 82.44094382420715,
      "mean_exposure_while_solvent": 0.958516598808262,
      "realized_annual_volatility_pct": 85.59181278702552,
      "trading_costs_quote_units": 12.787380753443541,
      "borrowing_costs_quote_units": 6.888835270877937,
      "price_pnl_quote_units": -7631.246581683916,
      "turnover_quote_units": 21312.301255739232,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 130,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2496.669967288067,
      "return_pct": -75.03330032711933,
      "cagr_pct": -75.07283554387807,
      "max_drawdown_pct": 79.9165941815237,
      "mean_exposure_while_solvent": 0.8996521618381316,
      "realized_annual_volatility_pct": 77.34212790297809,
      "trading_costs_quote_units": 19.200338422972095,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7484.129694288959,
      "turnover_quote_units": 32000.564038286837,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 136,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4123.660815855492,
      "return_pct": -58.76339184144508,
      "cagr_pct": -58.805089786465004,
      "max_drawdown_pct": 69.76564738078011,
      "mean_exposure_while_solvent": 0.7486497268700313,
      "realized_annual_volatility_pct": 65.97917493322338,
      "trading_costs_quote_units": 13.512234764274275,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5862.826949380231,
      "turnover_quote_units": 22520.391273790443,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2793.5982428056573,
      "return_pct": -72.06401757194342,
      "cagr_pct": -72.10467490470411,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.998620055197792,
      "realized_annual_volatility_pct": 88.15850964401932,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7200.405355035615,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1751.149380250275,
      "return_pct": -82.48850619749724,
      "cagr_pct": -82.5233167994532,
      "max_drawdown_pct": 89.382065967593,
      "mean_exposure_while_solvent": 1.2489743930326922,
      "realized_annual_volatility_pct": 110.50726299601239,
      "trading_costs_quote_units": 18.396698141194914,
      "borrowing_costs_quote_units": 115.62936906360923,
      "price_pnl_quote_units": -8114.824552544912,
      "turnover_quote_units": 30661.163568658176,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1042.9206750808178,
      "return_pct": -89.57079324919182,
      "cagr_pct": -89.59768388455147,
      "max_drawdown_pct": 94.21843588417279,
      "mean_exposure_while_solvent": 1.4997784157198626,
      "realized_annual_volatility_pct": 133.07220016969953,
      "trading_costs_quote_units": 30.880778210601775,
      "borrowing_costs_quote_units": 185.84261273482127,
      "price_pnl_quote_units": -8740.355933973746,
      "turnover_quote_units": 51467.9636843362,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2851.359528095738,
      "return_pct": -71.48640471904261,
      "cagr_pct": -71.52723720737568,
      "max_drawdown_pct": 76.01986702153924,
      "mean_exposure_while_solvent": 0.7701236672457092,
      "realized_annual_volatility_pct": 71.66407147081775,
      "trading_costs_quote_units": 27.694597033672633,
      "borrowing_costs_quote_units": 3.922670670905302,
      "price_pnl_quote_units": -7117.023204199685,
      "turnover_quote_units": 46157.661722787736,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2415.336310612515,
      "return_pct": -75.84663689387486,
      "cagr_pct": -75.88579630700661,
      "max_drawdown_pct": 80.57084839017669,
      "mean_exposure_while_solvent": 0.9377131417170886,
      "realized_annual_volatility_pct": 78.68417284565527,
      "trading_costs_quote_units": 25.653285775096617,
      "borrowing_costs_quote_units": 34.72555646469974,
      "price_pnl_quote_units": -7524.284847147673,
      "turnover_quote_units": 42755.476291827676,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1995.8692030202503,
      "return_pct": -80.04130796979749,
      "cagr_pct": -80.07800733164807,
      "max_drawdown_pct": 84.72571010469214,
      "mean_exposure_while_solvent": 1.081452216237359,
      "realized_annual_volatility_pct": 86.75240132666234,
      "trading_costs_quote_units": 25.866660184875908,
      "borrowing_costs_quote_units": 107.84607909580198,
      "price_pnl_quote_units": -7870.418057699073,
      "turnover_quote_units": 43111.100308126515,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2929.5596706719534,
      "return_pct": -70.70440329328048,
      "cagr_pct": -70.74545167801054,
      "max_drawdown_pct": 76.9402758361273,
      "mean_exposure_while_solvent": 0.9197759034605014,
      "realized_annual_volatility_pct": 72.5702878060527,
      "trading_costs_quote_units": 48.328591756730866,
      "borrowing_costs_quote_units": 77.4555732326166,
      "price_pnl_quote_units": -6944.656164338697,
      "turnover_quote_units": 80547.65292788476,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 289,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2345.1987789436885,
      "return_pct": -76.54801221056312,
      "cagr_pct": -76.58682248167709,
      "max_drawdown_pct": 82.46993455017221,
      "mean_exposure_while_solvent": 0.9585188830864475,
      "realized_annual_volatility_pct": 85.59182763457741,
      "trading_costs_quote_units": 12.783030310687593,
      "borrowing_costs_quote_units": 13.76822863956958,
      "price_pnl_quote_units": -7628.249962106054,
      "turnover_quote_units": 21305.050517812666,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 130,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2496.669967288067,
      "return_pct": -75.03330032711933,
      "cagr_pct": -75.07283554387807,
      "max_drawdown_pct": 79.9165941815237,
      "mean_exposure_while_solvent": 0.8996521618381316,
      "realized_annual_volatility_pct": 77.34212790297809,
      "trading_costs_quote_units": 19.200338422972095,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7484.129694288959,
      "turnover_quote_units": 32000.564038286837,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 136,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4123.660815855492,
      "return_pct": -58.76339184144508,
      "cagr_pct": -58.805089786465004,
      "max_drawdown_pct": 69.76564738078011,
      "mean_exposure_while_solvent": 0.7486497268700313,
      "realized_annual_volatility_pct": 65.97917493322338,
      "trading_costs_quote_units": 13.512234764274275,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5862.826949380231,
      "turnover_quote_units": 22520.391273790443,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2793.5982428056573,
      "return_pct": -72.06401757194342,
      "cagr_pct": -72.10467490470411,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.998620055197792,
      "realized_annual_volatility_pct": 88.15850964401932,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7200.405355035615,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1707.7388984018598,
      "return_pct": -82.9226110159814,
      "cagr_pct": -82.95704727633922,
      "max_drawdown_pct": 89.63021891434792,
      "mean_exposure_while_solvent": 1.2490106819800946,
      "realized_annual_volatility_pct": 110.51170316512946,
      "trading_costs_quote_units": 18.324125920028006,
      "borrowing_costs_quote_units": 229.0183435923983,
      "price_pnl_quote_units": -8044.918632085726,
      "turnover_quote_units": 30540.20986671336,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 991.7454419520271,
      "return_pct": -90.08254558047972,
      "cagr_pct": -90.10868510856972,
      "max_drawdown_pct": 94.48617694033248,
      "mean_exposure_while_solvent": 1.4998657452085595,
      "realized_annual_volatility_pct": 133.0830140350279,
      "trading_costs_quote_units": 30.611987300756383,
      "borrowing_costs_quote_units": 365.0651551390019,
      "price_pnl_quote_units": -8612.577415608232,
      "turnover_quote_units": 51019.97883459393,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2987.571496788308,
      "return_pct": -70.12428503211692,
      "cagr_pct": -70.16547814157505,
      "max_drawdown_pct": 76.018234199286,
      "mean_exposure_while_solvent": 0.7707361684510627,
      "realized_annual_volatility_pct": 71.85899676974876,
      "trading_costs_quote_units": 142.93472795416426,
      "borrowing_costs_quote_units": 1.0094638148208008,
      "price_pnl_quote_units": -6868.484311442694,
      "turnover_quote_units": 47644.909318054786,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2493.0342210403987,
      "return_pct": -75.06965778959601,
      "cagr_pct": -75.10917686058644,
      "max_drawdown_pct": 80.7186413068742,
      "mean_exposure_while_solvent": 0.9383254856249661,
      "realized_annual_volatility_pct": 78.87364918612163,
      "trading_costs_quote_units": 132.43154300851407,
      "borrowing_costs_quote_units": 8.896551156220266,
      "price_pnl_quote_units": -7365.637684794879,
      "turnover_quote_units": 44143.847669504656,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2042.579205640669,
      "return_pct": -79.57420794359331,
      "cagr_pct": -79.61122752115239,
      "max_drawdown_pct": 84.80091340627767,
      "mean_exposure_while_solvent": 1.0820084963476257,
      "realized_annual_volatility_pct": 86.96423404831376,
      "trading_costs_quote_units": 135.3731501902695,
      "borrowing_costs_quote_units": 27.57491080961134,
      "price_pnl_quote_units": -7794.472733359442,
      "turnover_quote_units": 45124.38339675655,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2815.98323836242,
      "return_pct": -71.8401676163758,
      "cagr_pct": -71.88089443241384,
      "max_drawdown_pct": 78.73746599867314,
      "mean_exposure_while_solvent": 0.9203026450999349,
      "realized_annual_volatility_pct": 72.58487749956579,
      "trading_costs_quote_units": 235.77507017490078,
      "borrowing_costs_quote_units": 18.830225913943355,
      "price_pnl_quote_units": -6929.411465548725,
      "turnover_quote_units": 78591.69005830032,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 288,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2407.069674826289,
      "return_pct": -75.92930325173711,
      "cagr_pct": -75.96842273575089,
      "max_drawdown_pct": 82.56853351077042,
      "mean_exposure_while_solvent": 0.9594226434707412,
      "realized_annual_volatility_pct": 85.91250153996498,
      "trading_costs_quote_units": 64.0513581574905,
      "borrowing_costs_quote_units": 3.516152367037318,
      "price_pnl_quote_units": -7525.362814649178,
      "turnover_quote_units": 21350.4527191635,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 129,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2595.3831378839914,
      "return_pct": -74.04616862116009,
      "cagr_pct": -74.08611939683551,
      "max_drawdown_pct": 79.92706525835503,
      "mean_exposure_while_solvent": 0.9004169628342108,
      "realized_annual_volatility_pct": 77.54399667226598,
      "trading_costs_quote_units": 100.10943251750285,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7304.50742959849,
      "turnover_quote_units": 33369.810839167636,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 136,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4054.8961907421444,
      "return_pct": -59.45103809257856,
      "cagr_pct": -59.492818661487924,
      "max_drawdown_pct": 69.70341899260823,
      "mean_exposure_while_solvent": 0.7495883379838686,
      "realized_annual_volatility_pct": 65.97486579450839,
      "trading_costs_quote_units": 69.40416111053528,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5875.699648147325,
      "turnover_quote_units": 23134.72037017841,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2720.5079651009287,
      "return_pct": -72.79492034899071,
      "cagr_pct": -72.83533646141562,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9995400183992639,
      "realized_annual_volatility_pct": 88.19650925063692,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7249.581765706638,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 1672.0325055576739,
      "return_pct": -83.27967494442326,
      "cagr_pct": -83.3137938732313,
      "max_drawdown_pct": 89.49534851993113,
      "mean_exposure_while_solvent": 1.2496914681878033,
      "realized_annual_volatility_pct": 110.63114771510114,
      "trading_costs_quote_units": 92.70912142530482,
      "borrowing_costs_quote_units": 55.54334770628296,
      "price_pnl_quote_units": -8179.71502531076,
      "turnover_quote_units": 30903.040475101585,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 964.2047137733025,
      "return_pct": -90.35795286226698,
      "cagr_pct": -90.38367580159061,
      "max_drawdown_pct": 94.404715622324,
      "mean_exposure_while_solvent": 1.500116535769126,
      "realized_annual_volatility_pct": 133.3127784757957,
      "trading_costs_quote_units": 153.75547048337455,
      "borrowing_costs_quote_units": 87.60702914501101,
      "price_pnl_quote_units": -8794.432786598298,
      "turnover_quote_units": 51251.82349445812,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2987.030030749609,
      "return_pct": -70.1296996925039,
      "cagr_pct": -70.17089151099854,
      "max_drawdown_pct": 76.02258064312612,
      "mean_exposure_while_solvent": 0.7707364099617232,
      "realized_annual_volatility_pct": 71.85902136452107,
      "trading_costs_quote_units": 142.9326291749751,
      "borrowing_costs_quote_units": 2.018884658564116,
      "price_pnl_quote_units": -6868.018455416843,
      "turnover_quote_units": 47644.20972499171,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2488.307246055643,
      "return_pct": -75.11692753944357,
      "cagr_pct": -75.15642552817472,
      "max_drawdown_pct": 80.75520017134757,
      "mean_exposure_while_solvent": 0.9383283859130824,
      "realized_annual_volatility_pct": 78.87372555535393,
      "trading_costs_quote_units": 132.3989342762611,
      "borrowing_costs_quote_units": 17.77783475643417,
      "price_pnl_quote_units": -7361.515984911659,
      "turnover_quote_units": 44132.97809208703,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2029.251678000144,
      "return_pct": -79.70748321999857,
      "cagr_pct": -79.74441268732329,
      "max_drawdown_pct": 84.90008520149088,
      "mean_exposure_while_solvent": 1.0820190246730645,
      "realized_annual_volatility_pct": 86.96523452969342,
      "trading_costs_quote_units": 135.2015144928419,
      "borrowing_costs_quote_units": 54.98897550746839,
      "price_pnl_quote_units": -7780.557831999533,
      "turnover_quote_units": 45067.171497614014,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2805.5586725343896,
      "return_pct": -71.9444132746561,
      "cagr_pct": -71.98510798646855,
      "max_drawdown_pct": 78.81617835830225,
      "mean_exposure_while_solvent": 0.9203087396322421,
      "realized_annual_volatility_pct": 72.58573137580149,
      "trading_costs_quote_units": 235.63358114347858,
      "borrowing_costs_quote_units": 37.59698600401785,
      "price_pnl_quote_units": -6921.210760318098,
      "turnover_quote_units": 78544.52704782624,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 288,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2405.083745800849,
      "return_pct": -75.94916254199151,
      "cagr_pct": -75.98827238542624,
      "max_drawdown_pct": 82.58291516977224,
      "mean_exposure_while_solvent": 0.9594237903687253,
      "realized_annual_volatility_pct": 85.9124833430362,
      "trading_costs_quote_units": 64.04121971057704,
      "borrowing_costs_quote_units": 7.029908188702924,
      "price_pnl_quote_units": -7523.845126299873,
      "turnover_quote_units": 21347.073236859018,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 129,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2595.3831378839914,
      "return_pct": -74.04616862116009,
      "cagr_pct": -74.08611939683551,
      "max_drawdown_pct": 79.92706525835503,
      "mean_exposure_while_solvent": 0.9004169628342108,
      "realized_annual_volatility_pct": 77.54399667226598,
      "trading_costs_quote_units": 100.10943251750285,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7304.50742959849,
      "turnover_quote_units": 33369.810839167636,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 136,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4054.8961907421444,
      "return_pct": -59.45103809257856,
      "cagr_pct": -59.492818661487924,
      "max_drawdown_pct": 69.70341899260823,
      "mean_exposure_while_solvent": 0.7495883379838686,
      "realized_annual_volatility_pct": 65.97486579450839,
      "trading_costs_quote_units": 69.40416111053528,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5875.699648147325,
      "turnover_quote_units": 23134.72037017841,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2720.5079651009287,
      "return_pct": -72.79492034899071,
      "cagr_pct": -72.83533646141562,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9995400183992639,
      "realized_annual_volatility_pct": 88.19650925063692,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7249.581765706638,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 1651.1482591287845,
      "return_pct": -83.48851740871214,
      "cagr_pct": -83.52244671306735,
      "max_drawdown_pct": 89.6188923781211,
      "mean_exposure_while_solvent": 1.2497097741340584,
      "realized_annual_volatility_pct": 110.63357423745175,
      "trading_costs_quote_units": 92.50165299164026,
      "borrowing_costs_quote_units": 110.54840525822277,
      "price_pnl_quote_units": -8145.801682621355,
      "turnover_quote_units": 30833.884330546724,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 940.2090245916858,
      "return_pct": -90.59790975408313,
      "cagr_pct": -90.62326242326276,
      "max_drawdown_pct": 94.53592119177952,
      "mean_exposure_while_solvent": 1.5001605567243284,
      "realized_annual_volatility_pct": 133.31871468877296,
      "trading_costs_quote_units": 153.03320522363296,
      "borrowing_costs_quote_units": 173.6586415537128,
      "price_pnl_quote_units": -8733.099128630975,
      "turnover_quote_units": 51011.06840787773,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2985.9471685894487,
      "return_pct": -70.14052831410551,
      "cagr_pct": -70.18171754747785,
      "max_drawdown_pct": 76.03127296956829,
      "mean_exposure_while_solvent": 0.770736893048525,
      "realized_annual_volatility_pct": 71.85907090298132,
      "trading_costs_quote_units": 142.92843163152162,
      "borrowing_costs_quote_units": 4.037597343816799,
      "price_pnl_quote_units": -6867.086802435202,
      "turnover_quote_units": 47642.810543840606,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2478.8769375318475,
      "return_pct": -75.21123062468152,
      "cagr_pct": -75.25068624789442,
      "max_drawdown_pct": 80.82813505515286,
      "mean_exposure_while_solvent": 0.9383341875324117,
      "realized_annual_volatility_pct": 78.87388353018595,
      "trading_costs_quote_units": 132.335642650382,
      "borrowing_costs_quote_units": 35.49468939892872,
      "price_pnl_quote_units": -7353.29273041884,
      "turnover_quote_units": 44111.880883460704,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2002.849440686455,
      "return_pct": -79.97150559313545,
      "cagr_pct": -80.00825359317602,
      "max_drawdown_pct": 85.09654754189393,
      "mean_exposure_while_solvent": 1.0820400854501426,
      "realized_annual_volatility_pct": 86.96725047091724,
      "trading_costs_quote_units": 134.86177389614656,
      "borrowing_costs_quote_units": 109.33844734481806,
      "price_pnl_quote_units": -7752.950338072579,
      "turnover_quote_units": 44953.92463204889,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2784.8185558018495,
      "return_pct": -72.15181444198151,
      "cagr_pct": -72.19244396427705,
      "max_drawdown_pct": 78.97277994286056,
      "mean_exposure_while_solvent": 0.920320931370852,
      "realized_annual_volatility_pct": 72.5874521045082,
      "trading_costs_quote_units": 235.3534389377978,
      "borrowing_costs_quote_units": 74.94093386387077,
      "price_pnl_quote_units": -6904.887071396475,
      "turnover_quote_units": 78451.1463125993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 288,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2401.1159489514685,
      "return_pct": -75.98884051048532,
      "cagr_pct": -76.02793103640036,
      "max_drawdown_pct": 82.61164907745233,
      "mean_exposure_while_solvent": 0.9594260845021457,
      "realized_annual_volatility_pct": 85.91244831136584,
      "trading_costs_quote_units": 64.02095799300562,
      "borrowing_costs_quote_units": 14.05023511876289,
      "price_pnl_quote_units": -7520.812857936774,
      "turnover_quote_units": 21340.31933100185,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 129,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2595.3831378839914,
      "return_pct": -74.04616862116009,
      "cagr_pct": -74.08611939683551,
      "max_drawdown_pct": 79.92706525835503,
      "mean_exposure_while_solvent": 0.9004169628342108,
      "realized_annual_volatility_pct": 77.54399667226598,
      "trading_costs_quote_units": 100.10943251750285,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7304.50742959849,
      "turnover_quote_units": 33369.810839167636,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 136,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4054.8961907421444,
      "return_pct": -59.45103809257856,
      "cagr_pct": -59.492818661487924,
      "max_drawdown_pct": 69.70341899260823,
      "mean_exposure_while_solvent": 0.7495883379838686,
      "realized_annual_volatility_pct": 65.97486579450839,
      "trading_costs_quote_units": 69.40416111053528,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5875.699648147325,
      "turnover_quote_units": 23134.72037017841,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2720.5079651009287,
      "return_pct": -72.79492034899071,
      "cagr_pct": -72.83533646141562,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.9995400183992639,
      "realized_annual_volatility_pct": 88.19650925063692,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7249.581765706638,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 1610.1483909490419,
      "return_pct": -83.89851609050957,
      "cagr_pct": -83.9320643218395,
      "max_drawdown_pct": 89.86170178801109,
      "mean_exposure_while_solvent": 1.2497463919875402,
      "realized_annual_volatility_pct": 110.63842908940025,
      "trading_costs_quote_units": 92.09345172619318,
      "borrowing_costs_quote_units": 218.96696767111303,
      "price_pnl_quote_units": -8078.791189653668,
      "turnover_quote_units": 30697.81724206436,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 893.9796747826728,
      "return_pct": -91.06020325217328,
      "cagr_pct": -91.0848227226067,
      "max_drawdown_pct": 94.78925506659587,
      "mean_exposure_while_solvent": 1.5002486188680688,
      "realized_annual_volatility_pct": 133.3305927831123,
      "trading_costs_quote_units": 151.62003326656495,
      "borrowing_costs_quote_units": 341.22630936752813,
      "price_pnl_quote_units": -8613.173982583228,
      "turnover_quote_units": 50540.0110888551,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 360,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2801.0242771893327,
      "return_pct": -71.98975722810668,
      "cagr_pct": -72.03043783755628,
      "max_drawdown_pct": 76.3745272173965,
      "mean_exposure_while_solvent": 0.770122932216365,
      "realized_annual_volatility_pct": 71.67307733408204,
      "trading_costs_quote_units": 137.3662526149124,
      "borrowing_costs_quote_units": 0.9659372008359616,
      "price_pnl_quote_units": -7060.643532994926,
      "turnover_quote_units": 45788.750871637545,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2386.264676687495,
      "return_pct": -76.13735323312505,
      "cagr_pct": -76.17637078913316,
      "max_drawdown_pct": 80.7468816503434,
      "mean_exposure_while_solvent": 0.9377044514134631,
      "realized_annual_volatility_pct": 78.68758435752144,
      "trading_costs_quote_units": 127.41941731209592,
      "borrowing_costs_quote_units": 8.58393704824285,
      "price_pnl_quote_units": -7477.731968952176,
      "turnover_quote_units": 42473.13910403193,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1996.6756506375787,
      "return_pct": -80.03324349362421,
      "cagr_pct": -80.06994848900604,
      "max_drawdown_pct": 84.67293331226107,
      "mean_exposure_while_solvent": 1.0814205252575553,
      "realized_annual_volatility_pct": 86.7489167053787,
      "trading_costs_quote_units": 128.7814083542796,
      "borrowing_costs_quote_units": 26.84532091947937,
      "price_pnl_quote_units": -7847.697620088665,
      "turnover_quote_units": 42927.13611809319,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2871.06564708952,
      "return_pct": -71.2893435291048,
      "cagr_pct": -71.33023270424492,
      "max_drawdown_pct": 77.32301163826772,
      "mean_exposure_while_solvent": 0.9197583770357112,
      "realized_annual_volatility_pct": 72.55761912498723,
      "trading_costs_quote_units": 238.9624286457291,
      "borrowing_costs_quote_units": 19.0309922507839,
      "price_pnl_quote_units": -6870.940932013959,
      "turnover_quote_units": 79654.14288190969,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 289,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2331.903585106471,
      "return_pct": -76.68096414893529,
      "cagr_pct": -76.71970555896684,
      "max_drawdown_pct": 82.52710142961044,
      "mean_exposure_while_solvent": 0.9585154568368618,
      "realized_annual_volatility_pct": 85.58542910744418,
      "trading_costs_quote_units": 63.70502100525669,
      "borrowing_costs_quote_units": 3.4225839061473717,
      "price_pnl_quote_units": -7600.968809982118,
      "turnover_quote_units": 21235.007001752234,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 130,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2466.2856366873284,
      "return_pct": -75.33714363312671,
      "cagr_pct": -75.37654205137918,
      "max_drawdown_pct": 80.1012478996613,
      "mean_exposure_while_solvent": 0.8996521618381316,
      "realized_annual_volatility_pct": 77.3471543360926,
      "trading_costs_quote_units": 95.4915930715381,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7438.222770241115,
      "turnover_quote_units": 31830.531023846037,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 136,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4095.0731061629585,
      "return_pct": -59.04926893837042,
      "cagr_pct": -59.09100283619209,
      "max_drawdown_pct": 69.91098866648396,
      "mean_exposure_while_solvent": 0.7486497268700313,
      "realized_annual_volatility_pct": 65.979514257601,
      "trading_costs_quote_units": 67.33093374702828,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5837.595960090028,
      "turnover_quote_units": 22443.644582342764,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2786.9136607690334,
      "return_pct": -72.13086339230966,
      "cagr_pct": -72.17149957971381,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.998620055197792,
      "realized_annual_volatility_pct": 88.15883843993295,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7183.176070038552,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1752.66704381898,
      "return_pct": -82.4733295618102,
      "cagr_pct": -82.50815302708183,
      "max_drawdown_pct": 89.34282074781817,
      "mean_exposure_while_solvent": 1.2489562515003692,
      "realized_annual_volatility_pct": 110.50685423929647,
      "trading_costs_quote_units": 91.73080342385707,
      "borrowing_costs_quote_units": 57.67794348754889,
      "price_pnl_quote_units": -8097.924209269635,
      "turnover_quote_units": 30576.93447461901,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1043.5239301131562,
      "return_pct": -89.56476069886844,
      "cagr_pct": -89.59166001469366,
      "max_drawdown_pct": 94.19499615179836,
      "mean_exposure_while_solvent": 1.4997347609612908,
      "realized_annual_volatility_pct": 133.0722030261899,
      "trading_costs_quote_units": 153.785010516051,
      "borrowing_costs_quote_units": 92.53675831659439,
      "price_pnl_quote_units": -8710.15430105421,
      "turnover_quote_units": 51261.670172016966,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2800.5168462915594,
      "return_pct": -71.99483153708441,
      "cagr_pct": -72.03551056316833,
      "max_drawdown_pct": 76.37880718560743,
      "mean_exposure_while_solvent": 0.7701231772038799,
      "realized_annual_volatility_pct": 71.67310471071654,
      "trading_costs_quote_units": 137.36425387230696,
      "borrowing_costs_quote_units": 1.9318316683955943,
      "price_pnl_quote_units": -7060.187068167749,
      "turnover_quote_units": 45788.08462410237,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2381.746384879515,
      "return_pct": -76.18253615120484,
      "cagr_pct": -76.22153129811365,
      "max_drawdown_pct": 80.78333662022465,
      "mean_exposure_while_solvent": 0.9377073478339044,
      "realized_annual_volatility_pct": 78.68766997148579,
      "trading_costs_quote_units": 127.38012141238164,
      "borrowing_costs_quote_units": 17.153097919779917,
      "price_pnl_quote_units": -7473.720395788324,
      "turnover_quote_units": 42460.040470793865,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1983.6459137658765,
      "return_pct": -80.16354086234124,
      "cagr_pct": -80.2001543807917,
      "max_drawdown_pct": 84.77295338607351,
      "mean_exposure_while_solvent": 1.0814310875336026,
      "realized_annual_volatility_pct": 86.74980298288344,
      "trading_costs_quote_units": 128.62846127194405,
      "borrowing_costs_quote_units": 53.53333451722125,
      "price_pnl_quote_units": -7834.192290444938,
      "turnover_quote_units": 42876.153757314656,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2860.4760013828227,
      "return_pct": -71.39523998617176,
      "cagr_pct": -71.4360988916727,
      "max_drawdown_pct": 77.40665349880445,
      "mean_exposure_while_solvent": 0.9197642184177367,
      "realized_annual_volatility_pct": 72.5584162975237,
      "trading_costs_quote_units": 238.8018022478604,
      "borrowing_costs_quote_units": 37.99756594618199,
      "price_pnl_quote_units": -6862.724630423139,
      "turnover_quote_units": 79600.60074928666,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 289,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2329.9801665749733,
      "return_pct": -76.70019833425027,
      "cagr_pct": -76.73892971060691,
      "max_drawdown_pct": 82.54151355930736,
      "mean_exposure_while_solvent": 0.958516598808262,
      "realized_annual_volatility_pct": 85.58543768420124,
      "trading_costs_quote_units": 63.69425071284301,
      "borrowing_costs_quote_units": 6.842826380434855,
      "price_pnl_quote_units": -7599.482756331733,
      "turnover_quote_units": 21231.416904281003,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 130,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2466.2856366873284,
      "return_pct": -75.33714363312671,
      "cagr_pct": -75.37654205137918,
      "max_drawdown_pct": 80.1012478996613,
      "mean_exposure_while_solvent": 0.8996521618381316,
      "realized_annual_volatility_pct": 77.3471543360926,
      "trading_costs_quote_units": 95.4915930715381,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7438.222770241115,
      "turnover_quote_units": 31830.531023846037,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 136,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4095.0731061629585,
      "return_pct": -59.04926893837042,
      "cagr_pct": -59.09100283619209,
      "max_drawdown_pct": 69.91098866648396,
      "mean_exposure_while_solvent": 0.7486497268700313,
      "realized_annual_volatility_pct": 65.979514257601,
      "trading_costs_quote_units": 67.33093374702828,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5837.595960090028,
      "turnover_quote_units": 22443.644582342764,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2786.9136607690334,
      "return_pct": -72.13086339230966,
      "cagr_pct": -72.17149957971381,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.998620055197792,
      "realized_annual_volatility_pct": 88.15883843993295,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7183.176070038552,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1730.804624958939,
      "return_pct": -82.6919537504106,
      "cagr_pct": -82.72659046119121,
      "max_drawdown_pct": 89.4681125271575,
      "mean_exposure_while_solvent": 1.2489743930326922,
      "realized_annual_volatility_pct": 110.50909643775657,
      "trading_costs_quote_units": 91.54947678839298,
      "borrowing_costs_quote_units": 114.79448436834531,
      "price_pnl_quote_units": -8062.851413884315,
      "turnover_quote_units": 30516.492262797652,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1017.5952048269631,
      "return_pct": -89.82404795173036,
      "cagr_pct": -89.85057055034126,
      "max_drawdown_pct": 94.33103646971955,
      "mean_exposure_while_solvent": 1.4997784157198626,
      "realized_annual_volatility_pct": 133.0776645907373,
      "trading_costs_quote_units": 153.11204366449306,
      "borrowing_costs_quote_units": 183.41139117439465,
      "price_pnl_quote_units": -8645.881360334151,
      "turnover_quote_units": 51037.34788816434,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2799.502049849785,
      "return_pct": -72.00497950150215,
      "cagr_pct": -72.04565535790961,
      "max_drawdown_pct": 76.38736657079744,
      "mean_exposure_while_solvent": 0.7701236672457092,
      "realized_annual_volatility_pct": 71.67315977309245,
      "trading_costs_quote_units": 137.3602563799681,
      "borrowing_costs_quote_units": 3.8634923177454628,
      "price_pnl_quote_units": -7059.274201452517,
      "turnover_quote_units": 45786.75212665609,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2372.7332878426823,
      "return_pct": -76.27266712157318,
      "cagr_pct": -76.31161727432422,
      "max_drawdown_pct": 80.85605706303318,
      "mean_exposure_while_solvent": 0.9377131417170886,
      "realized_annual_volatility_pct": 78.68784615548383,
      "trading_costs_quote_units": 127.30168034357594,
      "borrowing_costs_quote_units": 34.24718361450782,
      "price_pnl_quote_units": -7465.71784819924,
      "turnover_quote_units": 42433.893447858696,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1957.834405354073,
      "return_pct": -80.42165594645927,
      "cagr_pct": -80.45808536163905,
      "max_drawdown_pct": 84.97109007923773,
      "mean_exposure_while_solvent": 1.081452216237359,
      "realized_annual_volatility_pct": 86.75158999194575,
      "trading_costs_quote_units": 128.3242760369401,
      "borrowing_costs_quote_units": 106.44125018815555,
      "price_pnl_quote_units": -7807.400068420837,
      "turnover_quote_units": 42774.75867898,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2839.4084380134227,
      "return_pct": -71.60591561986578,
      "cagr_pct": -71.64671297279159,
      "max_drawdown_pct": 77.57305474073432,
      "mean_exposure_while_solvent": 0.9197759034605014,
      "realized_annual_volatility_pct": 72.56002247325442,
      "trading_costs_quote_units": 238.48178053141507,
      "borrowing_costs_quote_units": 75.73831068298774,
      "price_pnl_quote_units": -6846.371470772163,
      "turnover_quote_units": 79493.92684380505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 289,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2326.1372613629715,
      "return_pct": -76.73862738637028,
      "cagr_pct": -76.77733866159255,
      "max_drawdown_pct": 82.57030835743443,
      "mean_exposure_while_solvent": 0.9585188830864475,
      "realized_annual_volatility_pct": 85.58545611746136,
      "trading_costs_quote_units": 63.67272615887283,
      "borrowing_costs_quote_units": 13.676291843743499,
      "price_pnl_quote_units": -7596.513720634414,
      "turnover_quote_units": 21224.242052957627,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 130,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2466.2856366873284,
      "return_pct": -75.33714363312671,
      "cagr_pct": -75.37654205137918,
      "max_drawdown_pct": 80.1012478996613,
      "mean_exposure_while_solvent": 0.8996521618381316,
      "realized_annual_volatility_pct": 77.3471543360926,
      "trading_costs_quote_units": 95.4915930715381,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7438.222770241115,
      "turnover_quote_units": 31830.531023846037,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 136,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4095.0731061629585,
      "return_pct": -59.04926893837042,
      "cagr_pct": -59.09100283619209,
      "max_drawdown_pct": 69.91098866648396,
      "mean_exposure_while_solvent": 0.7486497268700313,
      "realized_annual_volatility_pct": 65.979514257601,
      "trading_costs_quote_units": 67.33093374702828,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5837.595960090028,
      "turnover_quote_units": 22443.644582342764,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2786.9136607690334,
      "return_pct": -72.13086339230966,
      "cagr_pct": -72.17149957971381,
      "max_drawdown_pct": 81.41717033425718,
      "mean_exposure_while_solvent": 0.998620055197792,
      "realized_annual_volatility_pct": 88.15883843993295,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -7183.176070038552,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1687.8844232379918,
      "return_pct": -83.12115576762008,
      "cagr_pct": -83.15541663936101,
      "max_drawdown_pct": 89.71434974788542,
      "mean_exposure_while_solvent": 1.2490106819800946,
      "realized_annual_volatility_pct": 110.51358178341668,
      "trading_costs_quote_units": 91.19068050645625,
      "borrowing_costs_quote_units": 227.36773582343466,
      "price_pnl_quote_units": -7993.557160432127,
      "turnover_quote_units": 30396.893502152077,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2018",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 967.6402330392401,
      "return_pct": -90.32359766960761,
      "cagr_pct": -90.34937306009829,
      "max_drawdown_pct": 94.59369953956958,
      "mean_exposure_while_solvent": 1.4998657452085595,
      "realized_annual_volatility_pct": 133.08859116700177,
      "trading_costs_quote_units": 151.791452253381,
      "borrowing_costs_quote_units": 360.3144464518863,
      "price_pnl_quote_units": -8520.253868255511,
      "turnover_quote_units": 50597.15075112702,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 6
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 22084.8256330758,
      "return_pct": 120.84825633075802,
      "cagr_pct": 121.04818610871413,
      "max_drawdown_pct": 32.749082681969064,
      "mean_exposure_while_solvent": 0.6638039109002761,
      "realized_annual_volatility_pct": 44.97435310371776,
      "trading_costs_quote_units": 82.22605265731609,
      "borrowing_costs_quote_units": 8.864218755914058,
      "price_pnl_quote_units": 12175.91590448901,
      "turnover_quote_units": 137043.42109552684,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 24836.6357183939,
      "return_pct": 148.366357183939,
      "cagr_pct": 148.62454004853976,
      "max_drawdown_pct": 47.04197939192597,
      "mean_exposure_while_solvent": 0.9718569323104337,
      "realized_annual_volatility_pct": 63.316783399275344,
      "trading_costs_quote_units": 115.93078663963641,
      "borrowing_costs_quote_units": 62.6308419708641,
      "price_pnl_quote_units": 15015.197347004398,
      "turnover_quote_units": 193217.97773272742,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25946.955261128962,
      "return_pct": 159.4695526112896,
      "cagr_pct": 159.7522512967883,
      "max_drawdown_pct": 57.99124704803852,
      "mean_exposure_while_solvent": 1.224931962413955,
      "realized_annual_volatility_pct": 79.22504409549573,
      "trading_costs_quote_units": 144.7889379510215,
      "borrowing_costs_quote_units": 274.90678416609524,
      "price_pnl_quote_units": 16366.650983246094,
      "turnover_quote_units": 241314.89658503621,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20136.83530987012,
      "return_pct": 101.3683530987012,
      "cagr_pct": 101.52939385204496,
      "max_drawdown_pct": 57.74124407567711,
      "mean_exposure_while_solvent": 1.038517143070377,
      "realized_annual_volatility_pct": 66.95323603438464,
      "trading_costs_quote_units": 230.74826799596264,
      "borrowing_costs_quote_units": 137.73536314220547,
      "price_pnl_quote_units": 10505.318941008334,
      "turnover_quote_units": 384580.44665993785,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 23860.736376604207,
      "return_pct": 138.60736376604206,
      "cagr_pct": 138.84446721615564,
      "max_drawdown_pct": 45.178207772337586,
      "mean_exposure_while_solvent": 0.929508659345573,
      "realized_annual_volatility_pct": 60.73797935228473,
      "trading_costs_quote_units": 67.9921632004354,
      "borrowing_costs_quote_units": 46.15534353736249,
      "price_pnl_quote_units": 13974.883883342021,
      "turnover_quote_units": 113320.2720007257,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20688.13395954643,
      "return_pct": 106.88133959546428,
      "cagr_pct": 107.05317611431741,
      "max_drawdown_pct": 45.61874542572871,
      "mean_exposure_while_solvent": 0.8808344248679196,
      "realized_annual_volatility_pct": 57.156709254868964,
      "trading_costs_quote_units": 56.92314366245086,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10745.057103208841,
      "turnover_quote_units": 94871.9061040848,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 231,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 17262.187959861214,
      "return_pct": 72.62187959861215,
      "cagr_pct": 72.72954225984162,
      "max_drawdown_pct": 40.82692916710264,
      "mean_exposure_while_solvent": 0.7496708669670465,
      "realized_annual_volatility_pct": 50.493448217284566,
      "trading_costs_quote_units": 23.751712959274528,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7285.939672820513,
      "turnover_quote_units": 39586.18826545758,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 19345.211380374814,
      "return_pct": 93.45211380374813,
      "cagr_pct": 93.59795595658002,
      "max_drawdown_pct": 52.249381038440234,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 67.22576828195513,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9351.207782533518,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20634.75374898623,
      "return_pct": 106.34753748986228,
      "cagr_pct": 106.5183212712792,
      "max_drawdown_pct": 62.520110021927586,
      "mean_exposure_while_solvent": 1.2495086111669933,
      "realized_annual_volatility_pct": 83.95671768545174,
      "trading_costs_quote_units": 52.42017711719046,
      "borrowing_costs_quote_units": 284.03546128365906,
      "price_pnl_quote_units": 10971.209387387065,
      "turnover_quote_units": 87366.9618619841,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21258.576683374056,
      "return_pct": 112.58576683374058,
      "cagr_pct": 112.76895094442776,
      "max_drawdown_pct": 71.18317836734474,
      "mean_exposure_while_solvent": 1.4996068231145863,
      "realized_annual_volatility_pct": 100.71366666313443,
      "trading_costs_quote_units": 133.44322112452676,
      "borrowing_costs_quote_units": 641.8316444632337,
      "price_pnl_quote_units": 12033.851548961655,
      "turnover_quote_units": 222405.36854087768,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 22067.766564634454,
      "return_pct": 120.67766564634455,
      "cagr_pct": 120.87724606361783,
      "max_drawdown_pct": 32.749082681969014,
      "mean_exposure_while_solvent": 0.6638051235703389,
      "realized_annual_volatility_pct": 44.97362344283461,
      "trading_costs_quote_units": 82.1709610328364,
      "borrowing_costs_quote_units": 17.722687627104126,
      "price_pnl_quote_units": 12167.660213294397,
      "turnover_quote_units": 136951.60172139408,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 24724.665838298188,
      "return_pct": 147.2466583829819,
      "cagr_pct": 147.502400078417,
      "max_drawdown_pct": 47.06316579427601,
      "mean_exposure_while_solvent": 0.9718639655442302,
      "realized_annual_volatility_pct": 63.31670007878372,
      "trading_costs_quote_units": 115.50336391366137,
      "borrowing_costs_quote_units": 124.93095282921288,
      "price_pnl_quote_units": 14965.10015504105,
      "turnover_quote_units": 192505.60652276909,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 25615.765161240553,
      "return_pct": 156.15765161240552,
      "cagr_pct": 156.43297963743638,
      "max_drawdown_pct": 58.186384423018026,
      "mean_exposure_while_solvent": 1.2249525465868125,
      "realized_annual_volatility_pct": 79.22620909131864,
      "trading_costs_quote_units": 143.6715362565526,
      "borrowing_costs_quote_units": 545.5431392724297,
      "price_pnl_quote_units": 16304.979836769491,
      "turnover_quote_units": 239452.56042758757,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 19976.502705089788,
      "return_pct": 99.76502705089787,
      "cagr_pct": 99.92296031481058,
      "max_drawdown_pct": 57.85573158792221,
      "mean_exposure_while_solvent": 1.0385301243771692,
      "realized_annual_volatility_pct": 66.95480821405974,
      "trading_costs_quote_units": 229.59909118802994,
      "borrowing_costs_quote_units": 274.1682496764265,
      "price_pnl_quote_units": 10480.270045954256,
      "turnover_quote_units": 382665.15198005014,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 23779.82000372662,
      "return_pct": 137.7982000372662,
      "cagr_pct": 138.03357595261892,
      "max_drawdown_pct": 45.183353965198435,
      "mean_exposure_while_solvent": 0.9295138386596791,
      "realized_annual_volatility_pct": 60.73764219074391,
      "trading_costs_quote_units": 67.80600058503107,
      "borrowing_costs_quote_units": 92.1383027546553,
      "price_pnl_quote_units": 13939.764307066323,
      "turnover_quote_units": 113010.00097505184,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20688.13395954643,
      "return_pct": 106.88133959546428,
      "cagr_pct": 107.05317611431741,
      "max_drawdown_pct": 45.61874542572871,
      "mean_exposure_while_solvent": 0.8808344248679196,
      "realized_annual_volatility_pct": 57.156709254868964,
      "trading_costs_quote_units": 56.92314366245086,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10745.057103208841,
      "turnover_quote_units": 94871.9061040848,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 231,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 17262.187959861214,
      "return_pct": 72.62187959861215,
      "cagr_pct": 72.72954225984162,
      "max_drawdown_pct": 40.82692916710264,
      "mean_exposure_while_solvent": 0.7496708669670465,
      "realized_annual_volatility_pct": 50.493448217284566,
      "trading_costs_quote_units": 23.751712959274528,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7285.939672820513,
      "turnover_quote_units": 39586.18826545758,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 19345.211380374814,
      "return_pct": 93.45211380374813,
      "cagr_pct": 93.59795595658002,
      "max_drawdown_pct": 52.249381038440234,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 67.22576828195513,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9351.207782533518,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20378.986595979495,
      "return_pct": 103.78986595979494,
      "cagr_pct": 103.95562762775322,
      "max_drawdown_pct": 62.74505606443762,
      "mean_exposure_while_solvent": 1.24952642499,
      "realized_annual_volatility_pct": 83.95851580313509,
      "trading_costs_quote_units": 52.10442483824178,
      "borrowing_costs_quote_units": 564.0703235996261,
      "price_pnl_quote_units": 10995.1613444174,
      "turnover_quote_units": 86840.7080637364,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20734.607445681748,
      "return_pct": 107.34607445681749,
      "cagr_pct": 107.51882878575447,
      "max_drawdown_pct": 71.52846721941616,
      "mean_exposure_while_solvent": 1.499649610991527,
      "realized_annual_volatility_pct": 100.71798998848003,
      "trading_costs_quote_units": 131.70479074176532,
      "borrowing_costs_quote_units": 1265.528584349331,
      "price_pnl_quote_units": 12131.840820772846,
      "turnover_quote_units": 219507.98456960882,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 22033.67808127333,
      "return_pct": 120.33678081273331,
      "cagr_pct": 120.53566356813748,
      "max_drawdown_pct": 32.749082681969064,
      "mean_exposure_while_solvent": 0.6638075493607758,
      "realized_annual_volatility_pct": 44.97216783589364,
      "trading_costs_quote_units": 82.0616897500484,
      "borrowing_costs_quote_units": 35.4223850365661,
      "price_pnl_quote_units": 12151.162156059909,
      "turnover_quote_units": 136769.48291674716,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 24502.18166382687,
      "return_pct": 145.02181663826866,
      "cagr_pct": 145.27272497909362,
      "max_drawdown_pct": 47.105521887335364,
      "mean_exposure_while_solvent": 0.9718780345993688,
      "realized_annual_volatility_pct": 63.316546265394244,
      "trading_costs_quote_units": 114.65459216835885,
      "borrowing_costs_quote_units": 248.54523436415994,
      "price_pnl_quote_units": 14865.38149035941,
      "turnover_quote_units": 191090.9869472648,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 24965.84175671465,
      "return_pct": 149.65841756714647,
      "cagr_pct": 149.9194245624646,
      "max_drawdown_pct": 58.57403961143497,
      "mean_exposure_while_solvent": 1.2249937229324563,
      "realized_annual_volatility_pct": 79.22855585124715,
      "trading_costs_quote_units": 141.47160710295063,
      "borrowing_costs_quote_units": 1074.2313598960693,
      "price_pnl_quote_units": 16181.544723713694,
      "turnover_quote_units": 235786.01183825132,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19659.563225193495,
      "return_pct": 96.59563225193494,
      "cagr_pct": 96.74746618549688,
      "max_drawdown_pct": 58.08384121969807,
      "mean_exposure_while_solvent": 1.0385560921862622,
      "realized_annual_volatility_pct": 66.95797510744576,
      "trading_costs_quote_units": 227.32782438464812,
      "borrowing_costs_quote_units": 543.1689326743941,
      "price_pnl_quote_units": 10430.0599822525,
      "turnover_quote_units": 378879.70730774663,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 23618.76500475073,
      "return_pct": 136.1876500475073,
      "cagr_pct": 136.41959688671724,
      "max_drawdown_pct": 45.193646802287915,
      "mean_exposure_while_solvent": 0.9295241991315109,
      "realized_annual_volatility_pct": 60.73697808904226,
      "trading_costs_quote_units": 67.43826690492554,
      "borrowing_costs_quote_units": 183.58935989317342,
      "price_pnl_quote_units": 13869.792631548882,
      "turnover_quote_units": 112397.11150820924,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 20688.13395954643,
      "return_pct": 106.88133959546428,
      "cagr_pct": 107.05317611431741,
      "max_drawdown_pct": 45.61874542572871,
      "mean_exposure_while_solvent": 0.8808344248679196,
      "realized_annual_volatility_pct": 57.156709254868964,
      "trading_costs_quote_units": 56.92314366245086,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10745.057103208841,
      "turnover_quote_units": 94871.9061040848,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 231,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 17262.187959861214,
      "return_pct": 72.62187959861215,
      "cagr_pct": 72.72954225984162,
      "max_drawdown_pct": 40.82692916710264,
      "mean_exposure_while_solvent": 0.7496708669670465,
      "realized_annual_volatility_pct": 50.493448217284566,
      "trading_costs_quote_units": 23.751712959274528,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7285.939672820513,
      "turnover_quote_units": 39586.18826545758,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19345.211380374814,
      "return_pct": 93.45211380374813,
      "cagr_pct": 93.59795595658002,
      "max_drawdown_pct": 52.249381038440234,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 67.22576828195513,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9351.207782533518,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19876.80796411618,
      "return_pct": 98.76807964116179,
      "cagr_pct": 98.92408808674477,
      "max_drawdown_pct": 63.191007228843965,
      "mean_exposure_while_solvent": 1.2495620581228497,
      "realized_annual_volatility_pct": 83.9621127457588,
      "trading_costs_quote_units": 51.48347912777881,
      "borrowing_costs_quote_units": 1112.3336481012202,
      "price_pnl_quote_units": 11040.625091345255,
      "turnover_quote_units": 85805.79854629806,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19724.811459290257,
      "return_pct": 97.24811459290257,
      "cagr_pct": 97.4011994451897,
      "max_drawdown_pct": 72.20746979003334,
      "mean_exposure_while_solvent": 1.499735205316291,
      "realized_annual_volatility_pct": 100.72663912791278,
      "trading_costs_quote_units": 128.31445792516607,
      "borrowing_costs_quote_units": 2460.2788890714687,
      "price_pnl_quote_units": 12313.404806286886,
      "turnover_quote_units": 213857.42987527692,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21294.875914160755,
      "return_pct": 112.94875914160754,
      "cagr_pct": 113.13267131673412,
      "max_drawdown_pct": 34.30856781980081,
      "mean_exposure_while_solvent": 0.6635112319150317,
      "realized_annual_volatility_pct": 45.15464204425834,
      "trading_costs_quote_units": 82.01953935149574,
      "borrowing_costs_quote_units": 9.09956339757094,
      "price_pnl_quote_units": 11385.995016909832,
      "turnover_quote_units": 136699.23225249292,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 24275.57824057511,
      "return_pct": 142.7557824057511,
      "cagr_pct": 143.00179167331274,
      "max_drawdown_pct": 48.4077950902689,
      "mean_exposure_while_solvent": 0.9709145198213467,
      "realized_annual_volatility_pct": 63.54944940514452,
      "trading_costs_quote_units": 117.18798791024412,
      "borrowing_costs_quote_units": 62.77600053621085,
      "price_pnl_quote_units": 14455.542229021545,
      "turnover_quote_units": 195313.31318374025,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25683.648408074587,
      "return_pct": 156.83648408074586,
      "cagr_pct": 157.11331887968365,
      "max_drawdown_pct": 58.58686972982336,
      "mean_exposure_while_solvent": 1.2233848449286893,
      "realized_annual_volatility_pct": 79.4200752494832,
      "trading_costs_quote_units": 143.1334415340291,
      "borrowing_costs_quote_units": 274.45754122714004,
      "price_pnl_quote_units": 16101.239390835788,
      "turnover_quote_units": 238555.7358900485,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 19519.849495831608,
      "return_pct": 95.19849495831608,
      "cagr_pct": 95.34765868816449,
      "max_drawdown_pct": 59.491199454205955,
      "mean_exposure_while_solvent": 1.0376638183330869,
      "realized_annual_volatility_pct": 67.52837738950383,
      "trading_costs_quote_units": 231.50574139615048,
      "borrowing_costs_quote_units": 136.73327175497081,
      "price_pnl_quote_units": 9888.088508982772,
      "turnover_quote_units": 385842.90232691786,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 23778.751729598865,
      "return_pct": 137.78751729598864,
      "cagr_pct": 138.02287042513498,
      "max_drawdown_pct": 45.66313287241726,
      "mean_exposure_while_solvent": 0.9287619152326181,
      "realized_annual_volatility_pct": 60.8830169997411,
      "trading_costs_quote_units": 68.55614023434222,
      "borrowing_costs_quote_units": 46.411315764443444,
      "price_pnl_quote_units": 13893.719185597653,
      "turnover_quote_units": 114260.23372390361,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 20365.823800584913,
      "return_pct": 103.65823800584914,
      "cagr_pct": 103.8237422057941,
      "max_drawdown_pct": 46.28083453279939,
      "mean_exposure_while_solvent": 0.8801304939238043,
      "realized_annual_volatility_pct": 57.259003659547936,
      "trading_costs_quote_units": 56.35285081763612,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10422.176651402542,
      "turnover_quote_units": 93921.41802939355,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 231,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 17167.8884364042,
      "return_pct": 71.67888436404199,
      "cagr_pct": 71.7848841980664,
      "max_drawdown_pct": 41.247019277148745,
      "mean_exposure_while_solvent": 0.7492618372648174,
      "realized_annual_volatility_pct": 50.493636161561625,
      "trading_costs_quote_units": 20.952347906764665,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7188.84078431096,
      "turnover_quote_units": 34920.57984460773,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 19465.308205911635,
      "return_pct": 94.65308205911636,
      "cagr_pct": 94.80120649869113,
      "max_drawdown_pct": 52.249381038440234,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 67.22247173651196,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9471.304608070323,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21150.71582057865,
      "return_pct": 111.5071582057865,
      "cagr_pct": 111.6881831089866,
      "max_drawdown_pct": 62.06982233695442,
      "mean_exposure_while_solvent": 1.2479221279513288,
      "realized_annual_volatility_pct": 83.94403330502622,
      "trading_costs_quote_units": 46.4030353192816,
      "borrowing_costs_quote_units": 288.11525958667403,
      "price_pnl_quote_units": 11485.234115484625,
      "turnover_quote_units": 77338.39219880266,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 22339.608259541303,
      "return_pct": 123.39608259541302,
      "cagr_pct": 123.60124806767479,
      "max_drawdown_pct": 70.35571914819039,
      "mean_exposure_while_solvent": 1.4971862469061625,
      "realized_annual_volatility_pct": 100.67960188474608,
      "trading_costs_quote_units": 118.130201008777,
      "borrowing_costs_quote_units": 660.1061689355695,
      "price_pnl_quote_units": 13117.844629485644,
      "turnover_quote_units": 196883.66834796168,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21278.38396509344,
      "return_pct": 112.78383965093437,
      "cagr_pct": 112.96742095430186,
      "max_drawdown_pct": 34.308567819800864,
      "mean_exposure_while_solvent": 0.6635124569740005,
      "realized_annual_volatility_pct": 45.154233451017035,
      "trading_costs_quote_units": 81.96633143705611,
      "borrowing_costs_quote_units": 18.193125028672824,
      "price_pnl_quote_units": 11378.543421559196,
      "turnover_quote_units": 136610.55239509343,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 24166.408394664188,
      "return_pct": 141.66408394664188,
      "cagr_pct": 141.9077416342929,
      "max_drawdown_pct": 48.42860393954951,
      "mean_exposure_while_solvent": 0.9709215151480731,
      "realized_annual_volatility_pct": 63.5493893571616,
      "trading_costs_quote_units": 116.76287309176354,
      "borrowing_costs_quote_units": 125.22233531725406,
      "price_pnl_quote_units": 14408.393603073204,
      "turnover_quote_units": 194604.78848627274,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 25356.2870224606,
      "return_pct": 153.562870224606,
      "cagr_pct": 153.8324577554535,
      "max_drawdown_pct": 58.780601903962946,
      "mean_exposure_while_solvent": 1.223405334679932,
      "realized_annual_volatility_pct": 79.42103059060138,
      "trading_costs_quote_units": 142.04281735904948,
      "borrowing_costs_quote_units": 544.6713602268766,
      "price_pnl_quote_units": 16043.001200046492,
      "turnover_quote_units": 236738.02893174897,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 19364.508887116768,
      "return_pct": 93.64508887116769,
      "cagr_pct": 93.79129717456689,
      "max_drawdown_pct": 59.60203426478815,
      "mean_exposure_while_solvent": 1.0376767731934418,
      "realized_annual_volatility_pct": 67.529955123733,
      "trading_costs_quote_units": 230.364100608904,
      "borrowing_costs_quote_units": 272.1832065573949,
      "price_pnl_quote_units": 9867.05619428308,
      "turnover_quote_units": 383940.16768150625,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 23698.27609762013,
      "return_pct": 136.98276097620132,
      "cagr_pct": 137.21639914723468,
      "max_drawdown_pct": 45.66824600810012,
      "mean_exposure_while_solvent": 0.9287670876532588,
      "realized_annual_volatility_pct": 60.882809596327945,
      "trading_costs_quote_units": 68.37621044570686,
      "borrowing_costs_quote_units": 92.64972987158139,
      "price_pnl_quote_units": 13859.30203793743,
      "turnover_quote_units": 113960.35074284468,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20365.823800584913,
      "return_pct": 103.65823800584914,
      "cagr_pct": 103.8237422057941,
      "max_drawdown_pct": 46.28083453279939,
      "mean_exposure_while_solvent": 0.8801304939238043,
      "realized_annual_volatility_pct": 57.259003659547936,
      "trading_costs_quote_units": 56.35285081763612,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10422.176651402542,
      "turnover_quote_units": 93921.41802939355,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 231,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 17167.8884364042,
      "return_pct": 71.67888436404199,
      "cagr_pct": 71.7848841980664,
      "max_drawdown_pct": 41.247019277148745,
      "mean_exposure_while_solvent": 0.7492618372648174,
      "realized_annual_volatility_pct": 50.493636161561625,
      "trading_costs_quote_units": 20.952347906764665,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7188.84078431096,
      "turnover_quote_units": 34920.57984460773,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 19465.308205911635,
      "return_pct": 94.65308205911636,
      "cagr_pct": 94.80120649869113,
      "max_drawdown_pct": 52.249381038440234,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 67.22247173651196,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9471.304608070323,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20888.867496394574,
      "return_pct": 108.88867496394572,
      "cagr_pct": 109.06448432192528,
      "max_drawdown_pct": 62.29735250352437,
      "mean_exposure_while_solvent": 1.2479398740318082,
      "realized_annual_volatility_pct": 83.94551977363464,
      "trading_costs_quote_units": 46.13704164850818,
      "borrowing_costs_quote_units": 572.1705793613127,
      "price_pnl_quote_units": 11507.175117404373,
      "turnover_quote_units": 76895.06941418027,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21789.738227177535,
      "return_pct": 117.89738227177536,
      "cagr_pct": 118.09129017356126,
      "max_drawdown_pct": 70.71096560774082,
      "mean_exposure_while_solvent": 1.497228843985798,
      "realized_annual_volatility_pct": 100.68317300425377,
      "trading_costs_quote_units": 116.63770598226895,
      "borrowing_costs_quote_units": 1301.512829651639,
      "price_pnl_quote_units": 13207.888762811686,
      "turnover_quote_units": 194396.17663711493,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21245.430332257773,
      "return_pct": 112.45430332257773,
      "cagr_pct": 112.63722392789504,
      "max_drawdown_pct": 34.30856781980077,
      "mean_exposure_while_solvent": 0.663514907547716,
      "realized_annual_volatility_pct": 45.15341993760487,
      "trading_costs_quote_units": 81.86000998811497,
      "borrowing_costs_quote_units": 36.36225360780563,
      "price_pnl_quote_units": 11363.652595853713,
      "turnover_quote_units": 136433.34998019168,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 23949.486171324603,
      "return_pct": 139.494861713246,
      "cagr_pct": 139.73386354975887,
      "max_drawdown_pct": 48.47020505269496,
      "mean_exposure_while_solvent": 0.9709355083694701,
      "realized_annual_volatility_pct": 63.54928194642985,
      "trading_costs_quote_units": 115.91776708450047,
      "borrowing_costs_quote_units": 249.13221371025685,
      "price_pnl_quote_units": 14314.536152119388,
      "turnover_quote_units": 193196.27847416743,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 24713.859795825214,
      "return_pct": 147.13859795825215,
      "cagr_pct": 147.39410436683914,
      "max_drawdown_pct": 59.165443052989744,
      "mean_exposure_while_solvent": 1.2234463221338991,
      "realized_annual_volatility_pct": 79.42295753449493,
      "trading_costs_quote_units": 139.8923479334008,
      "borrowing_costs_quote_units": 1072.592366585259,
      "price_pnl_quote_units": 15926.344510343883,
      "turnover_quote_units": 233153.9132223347,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 19057.441381111596,
      "return_pct": 90.57441381111595,
      "cagr_pct": 90.71482207573551,
      "max_drawdown_pct": 59.822851224623676,
      "mean_exposure_while_solvent": 1.0377026880973272,
      "realized_annual_volatility_pct": 67.53313235632383,
      "trading_costs_quote_units": 228.1021334231454,
      "borrowing_costs_quote_units": 539.2746356405144,
      "price_pnl_quote_units": 9824.818150175324,
      "turnover_quote_units": 380170.22237190936,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 23538.10299231764,
      "return_pct": 135.3810299231764,
      "cagr_pct": 135.61126407897873,
      "max_drawdown_pct": 45.67847272434976,
      "mean_exposure_while_solvent": 0.9287774343363031,
      "realized_annual_volatility_pct": 60.88240442431878,
      "trading_costs_quote_units": 68.01793202613563,
      "borrowing_costs_quote_units": 184.6101778521907,
      "price_pnl_quote_units": 13790.731102195894,
      "turnover_quote_units": 113363.2200435594,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20365.823800584913,
      "return_pct": 103.65823800584914,
      "cagr_pct": 103.8237422057941,
      "max_drawdown_pct": 46.28083453279939,
      "mean_exposure_while_solvent": 0.8801304939238043,
      "realized_annual_volatility_pct": 57.259003659547936,
      "trading_costs_quote_units": 56.35285081763612,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10422.176651402542,
      "turnover_quote_units": 93921.41802939355,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 231,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 17167.8884364042,
      "return_pct": 71.67888436404199,
      "cagr_pct": 71.7848841980664,
      "max_drawdown_pct": 41.247019277148745,
      "mean_exposure_while_solvent": 0.7492618372648174,
      "realized_annual_volatility_pct": 50.493636161561625,
      "trading_costs_quote_units": 20.952347906764665,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7188.84078431096,
      "turnover_quote_units": 34920.57984460773,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 19465.308205911635,
      "return_pct": 94.65308205911636,
      "cagr_pct": 94.80120649869113,
      "max_drawdown_pct": 52.249381038440234,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 67.22247173651196,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9471.304608070323,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20374.738837130215,
      "return_pct": 103.74738837130212,
      "cagr_pct": 103.91306694125686,
      "max_drawdown_pct": 62.74842874277209,
      "mean_exposure_while_solvent": 1.2479753716554027,
      "realized_annual_volatility_pct": 83.94849355236423,
      "trading_costs_quote_units": 45.61393782204846,
      "borrowing_costs_quote_units": 1128.299725958453,
      "price_pnl_quote_units": 11548.652500910675,
      "turnover_quote_units": 76023.22970341402,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20729.975659245414,
      "return_pct": 107.29975659245414,
      "cagr_pct": 107.47241939419894,
      "max_drawdown_pct": 71.40893215555093,
      "mean_exposure_while_solvent": 1.4973140566169765,
      "realized_annual_volatility_pct": 100.69031789211837,
      "trading_costs_quote_units": 113.72670274936485,
      "borrowing_costs_quote_units": 2530.045478233543,
      "price_pnl_quote_units": 13373.747840228343,
      "turnover_quote_units": 189544.50458227476,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21687.391493686882,
      "return_pct": 116.8739149368688,
      "cagr_pct": 117.0657448896546,
      "max_drawdown_pct": 33.17153317478792,
      "mean_exposure_while_solvent": 0.6638039109002761,
      "realized_annual_volatility_pct": 44.952605546608936,
      "trading_costs_quote_units": 406.71282110983105,
      "borrowing_costs_quote_units": 8.815419011602247,
      "price_pnl_quote_units": 12102.919733808387,
      "turnover_quote_units": 135570.94036994368,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 24322.938189198678,
      "return_pct": 143.2293818919868,
      "cagr_pct": 143.47641306856295,
      "max_drawdown_pct": 47.48509779419457,
      "mean_exposure_while_solvent": 0.9718569323104337,
      "realized_annual_volatility_pct": 63.30736391824456,
      "trading_costs_quote_units": 572.3753169280593,
      "borrowing_costs_quote_units": 62.074061580445,
      "price_pnl_quote_units": 14957.387567707297,
      "turnover_quote_units": 190791.77230935325,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25377.51772740323,
      "return_pct": 153.7751772740323,
      "cagr_pct": 154.04523335916727,
      "max_drawdown_pct": 58.41301193294085,
      "mean_exposure_while_solvent": 1.224931962413955,
      "realized_annual_volatility_pct": 79.22082698331914,
      "trading_costs_quote_units": 714.4613072897275,
      "borrowing_costs_quote_units": 271.2183888127599,
      "price_pnl_quote_units": 16363.19742350574,
      "turnover_quote_units": 238153.76909657576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 19325.62767415802,
      "return_pct": 93.2562767415802,
      "cagr_pct": 93.40174753869164,
      "max_drawdown_pct": 58.60041938202536,
      "mean_exposure_while_solvent": 1.038517143070377,
      "realized_annual_volatility_pct": 66.93034895469133,
      "trading_costs_quote_units": 1127.1603525703288,
      "borrowing_costs_quote_units": 134.64076672523885,
      "price_pnl_quote_units": 10587.428793453617,
      "turnover_quote_units": 375720.11752344266,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 23548.946376369924,
      "return_pct": 135.48946376369923,
      "cagr_pct": 135.71992797149596,
      "max_drawdown_pct": 45.43385171542871,
      "mean_exposure_while_solvent": 0.929508659345573,
      "realized_annual_volatility_pct": 60.73302046729066,
      "trading_costs_quote_units": 337.18750477057,
      "borrowing_costs_quote_units": 45.88126583326402,
      "price_pnl_quote_units": 13932.015146973788,
      "turnover_quote_units": 112395.83492352343,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20466.570680012286,
      "return_pct": 104.66570680012288,
      "cagr_pct": 104.83318411196372,
      "max_drawdown_pct": 45.91678789384491,
      "mean_exposure_while_solvent": 0.8808344248679196,
      "realized_annual_volatility_pct": 57.1563102196419,
      "trading_costs_quote_units": 282.84922181375555,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10749.419901826033,
      "turnover_quote_units": 94283.07393791845,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 231,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 17159.231695629693,
      "return_pct": 71.59231695629693,
      "cagr_pct": 71.69816443848087,
      "max_drawdown_pct": 40.968063148171666,
      "mean_exposure_while_solvent": 0.7496708669670465,
      "realized_annual_volatility_pct": 50.4918207837054,
      "trading_costs_quote_units": 118.33962103492219,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7277.571316664626,
      "turnover_quote_units": 39446.540344974106,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 19298.92174197711,
      "return_pct": 92.98921741977108,
      "cagr_pct": 93.13418217207877,
      "max_drawdown_pct": 52.249381038440234,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 67.2265173270167,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9328.832011169467,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20430.29061652194,
      "return_pct": 104.30290616521938,
      "cagr_pct": 104.46967228237827,
      "max_drawdown_pct": 62.66992232403219,
      "mean_exposure_while_solvent": 1.2495086111669933,
      "realized_annual_volatility_pct": 83.95515378468758,
      "trading_costs_quote_units": 260.45329858506545,
      "borrowing_costs_quote_units": 282.0961897907889,
      "price_pnl_quote_units": 10972.840104897734,
      "turnover_quote_units": 86817.76619502193,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20831.022857896736,
      "return_pct": 108.31022857896735,
      "cagr_pct": 108.48489082528077,
      "max_drawdown_pct": 71.45956666922449,
      "mean_exposure_while_solvent": 1.4996068231145863,
      "realized_annual_volatility_pct": 100.7100301154185,
      "trading_costs_quote_units": 659.2002004827882,
      "borrowing_costs_quote_units": 633.6188741547933,
      "price_pnl_quote_units": 12123.841932534378,
      "turnover_quote_units": 219733.40016092925,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 21670.658390653312,
      "return_pct": 116.70658390653314,
      "cagr_pct": 116.89807465162025,
      "max_drawdown_pct": 33.171533174787825,
      "mean_exposure_while_solvent": 0.6638051235703389,
      "realized_annual_volatility_pct": 44.95187643224964,
      "trading_costs_quote_units": 406.441037267709,
      "borrowing_costs_quote_units": 17.625130702589672,
      "price_pnl_quote_units": 12094.724558623597,
      "turnover_quote_units": 135480.34575590302,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 24213.410124424343,
      "return_pct": 142.13410124424342,
      "cagr_pct": 142.37877068514854,
      "max_drawdown_pct": 47.50610161708685,
      "mean_exposure_while_solvent": 0.9718639655442302,
      "realized_annual_volatility_pct": 63.307286702495745,
      "trading_costs_quote_units": 570.2705756860928,
      "borrowing_costs_quote_units": 123.82151771614802,
      "price_pnl_quote_units": 14907.502217826595,
      "turnover_quote_units": 190090.19189536426,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 25053.664079181523,
      "return_pct": 150.53664079181522,
      "cagr_pct": 150.7995717416596,
      "max_drawdown_pct": 58.60625737100027,
      "mean_exposure_while_solvent": 1.2249525465868125,
      "realized_annual_volatility_pct": 79.22200999222295,
      "trading_costs_quote_units": 708.9620158804228,
      "borrowing_costs_quote_units": 538.2351070601206,
      "price_pnl_quote_units": 16300.861202122125,
      "turnover_quote_units": 236320.67196014087,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 19171.74876378603,
      "return_pct": 91.7174876378603,
      "cagr_pct": 91.86004842893674,
      "max_drawdown_pct": 58.71266622624978,
      "mean_exposure_while_solvent": 1.0385301243771692,
      "realized_annual_volatility_pct": 66.93192641718447,
      "trading_costs_quote_units": 1121.5658137805192,
      "borrowing_costs_quote_units": 268.01546653958326,
      "price_pnl_quote_units": 10561.330044106104,
      "turnover_quote_units": 373855.2712601732,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 23469.171019469737,
      "return_pct": 134.69171019469738,
      "cagr_pct": 134.9204832356687,
      "max_drawdown_pct": 45.43897119349677,
      "mean_exposure_while_solvent": 0.9295138386596791,
      "realized_annual_volatility_pct": 60.73268675782639,
      "trading_costs_quote_units": 336.26659189866933,
      "borrowing_costs_quote_units": 91.59156448058246,
      "price_pnl_quote_units": 13897.02917584902,
      "turnover_quote_units": 112088.86396622316,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20466.570680012286,
      "return_pct": 104.66570680012288,
      "cagr_pct": 104.83318411196372,
      "max_drawdown_pct": 45.91678789384491,
      "mean_exposure_while_solvent": 0.8808344248679196,
      "realized_annual_volatility_pct": 57.1563102196419,
      "trading_costs_quote_units": 282.84922181375555,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10749.419901826033,
      "turnover_quote_units": 94283.07393791845,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 231,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 17159.231695629693,
      "return_pct": 71.59231695629693,
      "cagr_pct": 71.69816443848087,
      "max_drawdown_pct": 40.968063148171666,
      "mean_exposure_while_solvent": 0.7496708669670465,
      "realized_annual_volatility_pct": 50.4918207837054,
      "trading_costs_quote_units": 118.33962103492219,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7277.571316664626,
      "turnover_quote_units": 39446.540344974106,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 19298.92174197711,
      "return_pct": 92.98921741977108,
      "cagr_pct": 93.13418217207877,
      "max_drawdown_pct": 52.249381038440234,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 67.2265173270167,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9328.832011169467,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20177.04973559061,
      "return_pct": 101.77049735590612,
      "cagr_pct": 101.93231982194737,
      "max_drawdown_pct": 62.89409321996911,
      "mean_exposure_while_solvent": 1.24952642499,
      "realized_annual_volatility_pct": 83.95697529846187,
      "trading_costs_quote_units": 258.889294230651,
      "borrowing_costs_quote_units": 560.2232541829835,
      "price_pnl_quote_units": 10996.162284004326,
      "turnover_quote_units": 86296.43141021693,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20317.54721671356,
      "return_pct": 103.17547216713558,
      "cagr_pct": 103.34003289716497,
      "max_drawdown_pct": 71.80209371942861,
      "mean_exposure_while_solvent": 1.499649610991527,
      "realized_annual_volatility_pct": 100.71441058277229,
      "trading_costs_quote_units": 650.6385007367186,
      "borrowing_costs_quote_units": 1249.3719618344585,
      "price_pnl_quote_units": 12217.557679284784,
      "turnover_quote_units": 216879.50024557285,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 21637.21511539186,
      "return_pct": 116.3721511539186,
      "cagr_pct": 116.562964391645,
      "max_drawdown_pct": 33.171533174787896,
      "mean_exposure_while_solvent": 0.6638075493607758,
      "realized_annual_volatility_pct": 44.95042207231893,
      "trading_costs_quote_units": 405.901904991575,
      "borrowing_costs_quote_units": 35.227438639051094,
      "price_pnl_quote_units": 12078.344459022499,
      "turnover_quote_units": 135300.63499719166,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 23995.766098958084,
      "return_pct": 139.95766098958083,
      "cagr_pct": 140.1976542625858,
      "max_drawdown_pct": 47.54809270117249,
      "mean_exposure_while_solvent": 0.9718780345993688,
      "realized_annual_volatility_pct": 63.30714530088517,
      "trading_costs_quote_units": 566.0908087953201,
      "borrowing_costs_quote_units": 246.342722936273,
      "price_pnl_quote_units": 14808.199630689707,
      "turnover_quote_units": 188696.93626510655,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 24418.099651909466,
      "return_pct": 144.18099651909463,
      "cagr_pct": 144.4300842304882,
      "max_drawdown_pct": 58.99016827560172,
      "mean_exposure_while_solvent": 1.2249937229324563,
      "realized_annual_volatility_pct": 79.22439456795877,
      "trading_costs_quote_units": 698.1342048280657,
      "borrowing_costs_quote_units": 1059.8851407330228,
      "price_pnl_quote_units": 16176.118997470472,
      "turnover_quote_units": 232711.40160935512,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 18867.517349376165,
      "return_pct": 88.67517349376163,
      "cagr_pct": 88.81202266120047,
      "max_drawdown_pct": 58.936336593730765,
      "mean_exposure_while_solvent": 1.0385560921862622,
      "realized_annual_volatility_pct": 66.93510556701821,
      "trading_costs_quote_units": 1110.5066049664292,
      "borrowing_costs_quote_units": 531.0067027136625,
      "price_pnl_quote_units": 10509.030657056233,
      "turnover_quote_units": 370168.86832214304,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 23310.361286243322,
      "return_pct": 133.1036128624332,
      "cagr_pct": 133.3290285268881,
      "max_drawdown_pct": 45.44921059936513,
      "mean_exposure_while_solvent": 0.929524199131511,
      "realized_annual_volatility_pct": 60.73203140839757,
      "trading_costs_quote_units": 334.4472619496097,
      "borrowing_costs_quote_units": 182.50139424053967,
      "price_pnl_quote_units": 13827.309942433438,
      "turnover_quote_units": 111482.42064986986,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 20466.570680012286,
      "return_pct": 104.66570680012288,
      "cagr_pct": 104.83318411196372,
      "max_drawdown_pct": 45.91678789384491,
      "mean_exposure_while_solvent": 0.8808344248679196,
      "realized_annual_volatility_pct": 57.1563102196419,
      "trading_costs_quote_units": 282.84922181375555,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10749.419901826033,
      "turnover_quote_units": 94283.07393791845,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 231,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 17159.231695629693,
      "return_pct": 71.59231695629693,
      "cagr_pct": 71.69816443848087,
      "max_drawdown_pct": 40.968063148171666,
      "mean_exposure_while_solvent": 0.7496708669670465,
      "realized_annual_volatility_pct": 50.4918207837054,
      "trading_costs_quote_units": 118.33962103492219,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7277.571316664626,
      "turnover_quote_units": 39446.540344974106,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19298.92174197711,
      "return_pct": 92.98921741977108,
      "cagr_pct": 93.13418217207877,
      "max_drawdown_pct": 52.249381038440234,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 67.2265173270167,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9328.832011169467,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19679.80994179658,
      "return_pct": 96.79809941796577,
      "cagr_pct": 96.95032125046859,
      "max_drawdown_pct": 63.33851506614132,
      "mean_exposure_while_solvent": 1.2495620581228497,
      "realized_annual_volatility_pct": 83.9606195218356,
      "trading_costs_quote_units": 255.8133896934438,
      "borrowing_costs_quote_units": 1104.7628448036355,
      "price_pnl_quote_units": 11040.386176293694,
      "turnover_quote_units": 85271.12989781472,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19327.926849788997,
      "return_pct": 93.27926849788997,
      "cagr_pct": 93.42478288132274,
      "max_drawdown_pct": 72.47506925024348,
      "mean_exposure_while_solvent": 1.499735205316291,
      "realized_annual_volatility_pct": 100.72317520180734,
      "trading_costs_quote_units": 633.9394952791374,
      "borrowing_costs_quote_units": 2429.008234213989,
      "price_pnl_quote_units": 12390.874579282076,
      "turnover_quote_units": 211313.16509304589,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 20903.279917851705,
      "return_pct": 109.03279917851707,
      "cagr_pct": 109.20889463334018,
      "max_drawdown_pct": 34.71026103023137,
      "mean_exposure_while_solvent": 0.6635112319150317,
      "realized_annual_volatility_pct": 45.153740014419846,
      "trading_costs_quote_units": 405.6141444721289,
      "borrowing_costs_quote_units": 9.048331613762542,
      "price_pnl_quote_units": 11317.942393937581,
      "turnover_quote_units": 135204.71482404298,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 23762.58279999355,
      "return_pct": 137.62582799993547,
      "cagr_pct": 137.86083631412387,
      "max_drawdown_pct": 48.84148301438942,
      "mean_exposure_while_solvent": 0.9709145198213467,
      "realized_annual_volatility_pct": 63.548752090832195,
      "trading_costs_quote_units": 578.4445793018289,
      "borrowing_costs_quote_units": 62.21334914286485,
      "price_pnl_quote_units": 14403.240728438213,
      "turnover_quote_units": 192814.85976727624,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25131.228028077345,
      "return_pct": 151.31228028077345,
      "cagr_pct": 151.57691338199174,
      "max_drawdown_pct": 59.00642311628934,
      "mean_exposure_while_solvent": 1.2233848449286893,
      "realized_annual_volatility_pct": 79.41829130403315,
      "trading_costs_quote_units": 706.5480828301529,
      "borrowing_costs_quote_units": 270.89062515667507,
      "price_pnl_quote_units": 16108.666736064111,
      "turnover_quote_units": 235516.02761005098,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 18722.178219238413,
      "return_pct": 87.22178219238413,
      "cagr_pct": 87.35592252872495,
      "max_drawdown_pct": 60.33186960252189,
      "mean_exposure_while_solvent": 1.0376638183330869,
      "realized_annual_volatility_pct": 67.53984182304963,
      "trading_costs_quote_units": 1130.617176870904,
      "borrowing_costs_quote_units": 133.64777434396768,
      "price_pnl_quote_units": 9986.443170453287,
      "turnover_quote_units": 376872.3922903013,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 23461.028806541675,
      "return_pct": 134.61028806541674,
      "cagr_pct": 134.83888867306044,
      "max_drawdown_pct": 45.907636133856336,
      "mean_exposure_while_solvent": 0.9287619152326181,
      "realized_annual_volatility_pct": 60.88396257191,
      "trading_costs_quote_units": 339.9212739899849,
      "borrowing_costs_quote_units": 46.13045916271007,
      "price_pnl_quote_units": 13847.080539694325,
      "turnover_quote_units": 113307.09132999502,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 20147.572789888898,
      "return_pct": 101.47572789888896,
      "cagr_pct": 101.63697728410827,
      "max_drawdown_pct": 46.57065469436,
      "mean_exposure_while_solvent": 0.8801304939238043,
      "realized_annual_volatility_pct": 57.25931174555815,
      "trading_costs_quote_units": 280.0123312543758,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10427.585121143245,
      "turnover_quote_units": 93337.44375145849,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 231,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 17075.236001355475,
      "return_pct": 70.75236001355476,
      "cagr_pct": 70.85673183571515,
      "max_drawdown_pct": 41.35835771888144,
      "mean_exposure_while_solvent": 0.7492618372648174,
      "realized_annual_volatility_pct": 50.495877395179136,
      "trading_costs_quote_units": 104.42384525902492,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7179.659846614484,
      "turnover_quote_units": 34807.94841967494,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 19418.73119724345,
      "return_pct": 94.1873119724345,
      "cagr_pct": 94.33455026610372,
      "max_drawdown_pct": 52.249381038440234,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 67.22322182749582,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9448.641466435873,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 20961.04536564594,
      "return_pct": 109.61045365645941,
      "cagr_pct": 109.78769693708435,
      "max_drawdown_pct": 62.19069640894952,
      "mean_exposure_while_solvent": 1.2479221279513288,
      "realized_annual_volatility_pct": 83.94788052483266,
      "trading_costs_quote_units": 230.66332855436815,
      "borrowing_costs_quote_units": 286.27228455300116,
      "price_pnl_quote_units": 11477.980978753221,
      "turnover_quote_units": 76887.77618478927,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21940.36144808696,
      "return_pct": 119.40361448086958,
      "cagr_pct": 119.60059048927954,
      "max_drawdown_pct": 70.58313381274316,
      "mean_exposure_while_solvent": 1.4971862469061625,
      "realized_annual_volatility_pct": 100.68794631312234,
      "trading_costs_quote_units": 584.2028702700393,
      "borrowing_costs_quote_units": 652.3265264080607,
      "price_pnl_quote_units": 13176.890844765143,
      "turnover_quote_units": 194734.29009001306,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20887.097115697798,
      "return_pct": 108.87097115697797,
      "cagr_pct": 109.04674537948411,
      "max_drawdown_pct": 34.71026103023136,
      "mean_exposure_while_solvent": 0.6635124569740006,
      "realized_annual_volatility_pct": 45.153338470121106,
      "trading_costs_quote_units": 405.3515899767665,
      "borrowing_costs_quote_units": 18.090702345488047,
      "price_pnl_quote_units": 11310.539408020113,
      "turnover_quote_units": 135117.19665892213,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 23655.78839868073,
      "return_pct": 136.5578839868073,
      "cagr_pct": 136.79061799404693,
      "max_drawdown_pct": 48.86211116010893,
      "mean_exposure_while_solvent": 0.9709215151480731,
      "realized_annual_volatility_pct": 63.54870002795361,
      "trading_costs_quote_units": 576.3509002478921,
      "borrowing_costs_quote_units": 124.1009921565312,
      "price_pnl_quote_units": 14356.240291085162,
      "turnover_quote_units": 192116.96674929722,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 24810.891063394687,
      "return_pct": 148.10891063394686,
      "cagr_pct": 148.36653170071665,
      "max_drawdown_pct": 59.198281850022916,
      "mean_exposure_while_solvent": 1.223405334679932,
      "realized_annual_volatility_pct": 79.41925563265173,
      "trading_costs_quote_units": 701.1771557273879,
      "borrowing_costs_quote_units": 537.6030666911372,
      "price_pnl_quote_units": 16049.67128581326,
      "turnover_quote_units": 233725.71857579582,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 18573.15676706295,
      "return_pct": 85.73156767062949,
      "cagr_pct": 85.86294395002743,
      "max_drawdown_pct": 60.4405142224748,
      "mean_exposure_while_solvent": 1.0376767731934418,
      "realized_annual_volatility_pct": 67.54143817513557,
      "trading_costs_quote_units": 1125.0599339226453,
      "borrowing_costs_quote_units": 266.0482088960788,
      "price_pnl_quote_units": 9964.264909881738,
      "turnover_quote_units": 375019.977974215,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 23381.6532150564,
      "return_pct": 133.81653215056403,
      "cagr_pct": 134.04345346202007,
      "max_drawdown_pct": 45.91272004262598,
      "mean_exposure_while_solvent": 0.9287670876532588,
      "realized_annual_volatility_pct": 60.88376069825562,
      "trading_costs_quote_units": 339.0309174616395,
      "borrowing_costs_quote_units": 92.08931390968957,
      "price_pnl_quote_units": 13812.773446427733,
      "turnover_quote_units": 113010.30582054646,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20147.572789888898,
      "return_pct": 101.47572789888896,
      "cagr_pct": 101.63697728410827,
      "max_drawdown_pct": 46.57065469436,
      "mean_exposure_while_solvent": 0.8801304939238043,
      "realized_annual_volatility_pct": 57.25931174555815,
      "trading_costs_quote_units": 280.0123312543758,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10427.585121143245,
      "turnover_quote_units": 93337.44375145849,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 231,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 17075.236001355475,
      "return_pct": 70.75236001355476,
      "cagr_pct": 70.85673183571515,
      "max_drawdown_pct": 41.35835771888144,
      "mean_exposure_while_solvent": 0.7492618372648174,
      "realized_annual_volatility_pct": 50.495877395179136,
      "trading_costs_quote_units": 104.42384525902492,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7179.659846614484,
      "turnover_quote_units": 34807.94841967494,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 19418.73119724345,
      "return_pct": 94.1873119724345,
      "cagr_pct": 94.33455026610372,
      "max_drawdown_pct": 52.249381038440234,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 67.22322182749582,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9448.641466435873,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20701.527964596236,
      "return_pct": 107.01527964596238,
      "cagr_pct": 107.18738056210233,
      "max_drawdown_pct": 62.417594867834694,
      "mean_exposure_while_solvent": 1.2479398740318082,
      "realized_annual_volatility_pct": 83.94937850887119,
      "trading_costs_quote_units": 229.34551822755878,
      "borrowing_costs_quote_units": 568.5138109244743,
      "price_pnl_quote_units": 11499.387293748363,
      "turnover_quote_units": 76448.50607585291,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21400.252799754562,
      "return_pct": 114.00252799754563,
      "cagr_pct": 114.18855775525847,
      "max_drawdown_pct": 70.9358453621628,
      "mean_exposure_while_solvent": 1.497228843985798,
      "realized_annual_volatility_pct": 100.69154682675396,
      "trading_costs_quote_units": 576.8439531641561,
      "borrowing_costs_quote_units": 1286.2040985158199,
      "price_pnl_quote_units": 13263.300851434633,
      "turnover_quote_units": 192281.31772138563,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20854.761196380066,
      "return_pct": 108.54761196380065,
      "cagr_pct": 108.72274474081314,
      "max_drawdown_pct": 34.71026103023141,
      "mean_exposure_while_solvent": 0.663514907547716,
      "realized_annual_volatility_pct": 45.152539060475576,
      "trading_costs_quote_units": 404.82694636240524,
      "borrowing_costs_quote_units": 36.15757169665705,
      "price_pnl_quote_units": 11295.745714439108,
      "turnover_quote_units": 134942.31545413518,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 23443.58284655,
      "return_pct": 134.4358284655,
      "cagr_pct": 134.66405971676906,
      "max_drawdown_pct": 48.90335101701755,
      "mean_exposure_while_solvent": 0.9709355083694701,
      "realized_annual_volatility_pct": 63.54860850124832,
      "trading_costs_quote_units": 572.1887079955072,
      "borrowing_costs_quote_units": 246.90526010358684,
      "price_pnl_quote_units": 14262.676814649098,
      "turnover_quote_units": 190729.56933183566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 24182.215957285764,
      "return_pct": 141.82215957285763,
      "cagr_pct": 142.06615741542316,
      "max_drawdown_pct": 59.57940026843354,
      "mean_exposure_while_solvent": 1.2234463221338991,
      "realized_annual_volatility_pct": 79.42119963698269,
      "trading_costs_quote_units": 690.585982833378,
      "borrowing_costs_quote_units": 1058.7128783140358,
      "price_pnl_quote_units": 15931.51481843312,
      "turnover_quote_units": 230195.32761112595,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 18278.555918717666,
      "return_pct": 82.78555918717664,
      "cagr_pct": 82.91151155825874,
      "max_drawdown_pct": 60.65696678232617,
      "mean_exposure_while_solvent": 1.0377026880973272,
      "realized_annual_volatility_pct": 67.5446515494475,
      "trading_costs_quote_units": 1114.0479548591552,
      "borrowing_costs_quote_units": 527.1467360853953,
      "price_pnl_quote_units": 9919.750609662251,
      "turnover_quote_units": 371349.31828638527,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 23223.669300733778,
      "return_pct": 132.2366930073378,
      "cagr_pct": 132.46028114685672,
      "max_drawdown_pct": 45.92288830415793,
      "mean_exposure_while_solvent": 0.9287774343363031,
      "realized_annual_volatility_pct": 60.883366594054436,
      "trading_costs_quote_units": 337.25802333105173,
      "borrowing_costs_quote_units": 183.49451532510764,
      "price_pnl_quote_units": 13744.421839389935,
      "turnover_quote_units": 112419.34111035065,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20147.572789888898,
      "return_pct": 101.47572789888896,
      "cagr_pct": 101.63697728410827,
      "max_drawdown_pct": 46.57065469436,
      "mean_exposure_while_solvent": 0.8801304939238043,
      "realized_annual_volatility_pct": 57.25931174555815,
      "trading_costs_quote_units": 280.0123312543758,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10427.585121143245,
      "turnover_quote_units": 93337.44375145849,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 231,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 17075.236001355475,
      "return_pct": 70.75236001355476,
      "cagr_pct": 70.85673183571515,
      "max_drawdown_pct": 41.35835771888144,
      "mean_exposure_while_solvent": 0.7492618372648174,
      "realized_annual_volatility_pct": 50.495877395179136,
      "trading_costs_quote_units": 104.42384525902492,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7179.659846614484,
      "turnover_quote_units": 34807.94841967494,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 19418.73119724345,
      "return_pct": 94.1873119724345,
      "cagr_pct": 94.33455026610372,
      "max_drawdown_pct": 52.249381038440234,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 67.22322182749582,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9448.641466435873,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20191.959993433757,
      "return_pct": 101.91959993433754,
      "cagr_pct": 102.08171246829014,
      "max_drawdown_pct": 62.86742621024231,
      "mean_exposure_while_solvent": 1.2479753716554027,
      "realized_annual_volatility_pct": 83.95237516769983,
      "trading_costs_quote_units": 226.75377653349662,
      "borrowing_costs_quote_units": 1121.1007683587738,
      "price_pnl_quote_units": 11539.814538325983,
      "turnover_quote_units": 75584.59217783224,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20359.267843595735,
      "return_pct": 103.59267843595737,
      "cagr_pct": 103.7580544358376,
      "max_drawdown_pct": 71.62884145703163,
      "mean_exposure_while_solvent": 1.4973140566169765,
      "realized_annual_volatility_pct": 100.69875016150185,
      "trading_costs_quote_units": 562.4896650736653,
      "borrowing_costs_quote_units": 2500.40072466237,
      "price_pnl_quote_units": 13422.158233331777,
      "turnover_quote_units": 187496.55502455492,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 18863.911299411888,
      "return_pct": 88.63911299411889,
      "cagr_pct": 88.77589479660439,
      "max_drawdown_pct": 40.52594784487016,
      "mean_exposure_while_solvent": 0.7777057448917041,
      "realized_annual_volatility_pct": 50.34429394922624,
      "trading_costs_quote_units": 86.81700610757815,
      "borrowing_costs_quote_units": 3.880199108595903,
      "price_pnl_quote_units": 8954.60850462807,
      "turnover_quote_units": 144695.0101792969,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 22579.07430620437,
      "return_pct": 125.7907430620437,
      "cagr_pct": 126.00085980181137,
      "max_drawdown_pct": 49.60921075626105,
      "mean_exposure_while_solvent": 0.9904812842265092,
      "realized_annual_volatility_pct": 63.808354407475775,
      "trading_costs_quote_units": 97.12887959415731,
      "borrowing_costs_quote_units": 48.756288160221835,
      "price_pnl_quote_units": 12724.959473958757,
      "turnover_quote_units": 161881.46599026225,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25454.582520673117,
      "return_pct": 154.5458252067312,
      "cagr_pct": 154.81758379214284,
      "max_drawdown_pct": 56.99008487226156,
      "mean_exposure_while_solvent": 1.1557648644167071,
      "realized_annual_volatility_pct": 74.68596962384365,
      "trading_costs_quote_units": 125.99625378851478,
      "borrowing_costs_quote_units": 172.4395143568546,
      "price_pnl_quote_units": 15753.018288818505,
      "turnover_quote_units": 209993.75631419118,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 24045.157903368698,
      "return_pct": 140.45157903368698,
      "cagr_pct": 140.6926315345681,
      "max_drawdown_pct": 53.84341408033484,
      "mean_exposure_while_solvent": 1.0474988911609093,
      "realized_annual_volatility_pct": 67.69162272213394,
      "trading_costs_quote_units": 245.05148589859053,
      "borrowing_costs_quote_units": 134.31763480565343,
      "price_pnl_quote_units": 14424.527024072866,
      "turnover_quote_units": 408419.1431643174,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 309,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 19586.7701553574,
      "return_pct": 95.86770155357401,
      "cagr_pct": 96.01814284585093,
      "max_drawdown_pct": 52.16209692952116,
      "mean_exposure_while_solvent": 0.9729619013308146,
      "realized_annual_volatility_pct": 64.06923838633631,
      "trading_costs_quote_units": 42.7381772374676,
      "borrowing_costs_quote_units": 11.943681748136115,
      "price_pnl_quote_units": 9641.452014343038,
      "turnover_quote_units": 71230.29539577935,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 125,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20837.146050405816,
      "return_pct": 108.37146050405818,
      "cagr_pct": 108.54624409193514,
      "max_drawdown_pct": 47.697935018051,
      "mean_exposure_while_solvent": 0.9209908391388557,
      "realized_annual_volatility_pct": 58.65847596710794,
      "trading_costs_quote_units": 48.08567604892668,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10885.231726454718,
      "turnover_quote_units": 80142.79341487783,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 149,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 17207.547757680513,
      "return_pct": 72.07547757680513,
      "cagr_pct": 72.18217602184144,
      "max_drawdown_pct": 41.29184114754369,
      "mean_exposure_while_solvent": 0.7496219570383812,
      "realized_annual_volatility_pct": 49.13155044824835,
      "trading_costs_quote_units": 22.779211113001075,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7230.326968793491,
      "turnover_quote_units": 37965.35185500183,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 19362.532616542925,
      "return_pct": 93.62532616542924,
      "cagr_pct": 93.77149696098658,
      "max_drawdown_pct": 52.615473656161996,
      "mean_exposure_while_solvent": 0.9995417048579285,
      "realized_annual_volatility_pct": 65.45423025630569,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9368.529018701594,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20793.630889868,
      "return_pct": 107.93630889868,
      "cagr_pct": 108.11023060614917,
      "max_drawdown_pct": 62.74380192488211,
      "mean_exposure_while_solvent": 1.2495819064882272,
      "realized_annual_volatility_pct": 81.79614506781323,
      "trading_costs_quote_units": 50.38871198774546,
      "borrowing_costs_quote_units": 284.2675710478814,
      "price_pnl_quote_units": 11128.287172903696,
      "turnover_quote_units": 83981.18664624244,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21624.528468681372,
      "return_pct": 116.2452846868137,
      "cagr_pct": 116.43584106804848,
      "max_drawdown_pct": 71.26285296129102,
      "mean_exposure_while_solvent": 1.499780318492488,
      "realized_annual_volatility_pct": 98.18472345103659,
      "trading_costs_quote_units": 128.4369327811774,
      "borrowing_costs_quote_units": 645.7047780427051,
      "price_pnl_quote_units": 12398.670179505327,
      "turnover_quote_units": 214061.5546352959,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 18857.0003892548,
      "return_pct": 88.57000389254802,
      "cagr_pct": 88.70665661372502,
      "max_drawdown_pct": 40.52594784487019,
      "mean_exposure_while_solvent": 0.7777062498028723,
      "realized_annual_volatility_pct": 50.344254835038846,
      "trading_costs_quote_units": 86.78829550594642,
      "borrowing_costs_quote_units": 7.759480483984181,
      "price_pnl_quote_units": 8951.548165244756,
      "turnover_quote_units": 144647.15917657732,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 22501.248701864824,
      "return_pct": 125.01248701864824,
      "cagr_pct": 125.22099141118468,
      "max_drawdown_pct": 49.62727831493672,
      "mean_exposure_while_solvent": 0.9904867942682312,
      "realized_annual_volatility_pct": 63.80875022698387,
      "trading_costs_quote_units": 96.86170641082984,
      "borrowing_costs_quote_units": 97.3155531020084,
      "price_pnl_quote_units": 12695.425961377678,
      "turnover_quote_units": 161436.1773513831,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 25228.73389039382,
      "return_pct": 152.2873389039382,
      "cagr_pct": 152.55411567078053,
      "max_drawdown_pct": 57.0895282969774,
      "mean_exposure_while_solvent": 1.1557796012570127,
      "realized_annual_volatility_pct": 74.68673585051634,
      "trading_costs_quote_units": 125.29241945629434,
      "borrowing_costs_quote_units": 343.00063310574774,
      "price_pnl_quote_units": 15697.026942955783,
      "turnover_quote_units": 208820.69909382393,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 23875.13207397319,
      "return_pct": 138.7513207397319,
      "cagr_pct": 138.98873186205844,
      "max_drawdown_pct": 53.94689096562468,
      "mean_exposure_while_solvent": 1.047510835673088,
      "realized_annual_volatility_pct": 67.69259103435255,
      "trading_costs_quote_units": 243.94345367100578,
      "borrowing_costs_quote_units": 267.4873437261259,
      "price_pnl_quote_units": 14386.562871370257,
      "turnover_quote_units": 406572.42278500966,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 309,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 19565.800346418684,
      "return_pct": 95.65800346418685,
      "cagr_pct": 95.80804414618905,
      "max_drawdown_pct": 52.164102024492706,
      "mean_exposure_while_solvent": 0.9729635857708187,
      "realized_annual_volatility_pct": 64.06941558860896,
      "trading_costs_quote_units": 42.70531280581784,
      "borrowing_costs_quote_units": 23.875651376449085,
      "price_pnl_quote_units": 9632.381310600971,
      "turnover_quote_units": 71175.52134302967,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 125,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20837.146050405816,
      "return_pct": 108.37146050405818,
      "cagr_pct": 108.54624409193514,
      "max_drawdown_pct": 47.697935018051,
      "mean_exposure_while_solvent": 0.9209908391388557,
      "realized_annual_volatility_pct": 58.65847596710794,
      "trading_costs_quote_units": 48.08567604892668,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10885.231726454718,
      "turnover_quote_units": 80142.79341487783,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 149,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 17207.547757680513,
      "return_pct": 72.07547757680513,
      "cagr_pct": 72.18217602184144,
      "max_drawdown_pct": 41.29184114754369,
      "mean_exposure_while_solvent": 0.7496219570383812,
      "realized_annual_volatility_pct": 49.13155044824835,
      "trading_costs_quote_units": 22.779211113001075,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7230.326968793491,
      "turnover_quote_units": 37965.35185500183,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 19362.532616542925,
      "return_pct": 93.62532616542924,
      "cagr_pct": 93.77149696098658,
      "max_drawdown_pct": 52.615473656161996,
      "mean_exposure_while_solvent": 0.9995417048579285,
      "realized_annual_volatility_pct": 65.45423025630569,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9368.529018701594,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20535.922305729055,
      "return_pct": 105.35922305729054,
      "cagr_pct": 105.52806190940483,
      "max_drawdown_pct": 62.967435470170855,
      "mean_exposure_while_solvent": 1.2496000977070885,
      "realized_annual_volatility_pct": 81.79790441329186,
      "trading_costs_quote_units": 50.084760279910185,
      "borrowing_costs_quote_units": 564.5308171785285,
      "price_pnl_quote_units": 11150.537883187511,
      "turnover_quote_units": 83474.60046651693,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 21091.629424357634,
      "return_pct": 110.91629424357632,
      "cagr_pct": 111.09613899509618,
      "max_drawdown_pct": 71.60753148864309,
      "mean_exposure_while_solvent": 1.4998240230868916,
      "realized_annual_volatility_pct": 98.18895651608278,
      "trading_costs_quote_units": 126.75901900864491,
      "borrowing_costs_quote_units": 1273.1447180704977,
      "price_pnl_quote_units": 12491.533161436806,
      "turnover_quote_units": 211265.03168107514,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 18843.18325736854,
      "return_pct": 88.43183257368538,
      "cagr_pct": 88.56822730671765,
      "max_drawdown_pct": 40.52594784487019,
      "mean_exposure_while_solvent": 0.7777072597667575,
      "realized_annual_volatility_pct": 50.344177463156704,
      "trading_costs_quote_units": 86.73089325440856,
      "borrowing_costs_quote_units": 15.515290068432057,
      "price_pnl_quote_units": 8945.429440691367,
      "turnover_quote_units": 144551.4887573474,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 22346.356402818616,
      "return_pct": 123.46356402818617,
      "cagr_pct": 123.66886862617844,
      "max_drawdown_pct": 49.663401975930086,
      "mean_exposure_while_solvent": 0.9904978164927921,
      "realized_annual_volatility_pct": 63.80955245122743,
      "trading_costs_quote_units": 96.33241097127987,
      "borrowing_costs_quote_units": 193.84575141920638,
      "price_pnl_quote_units": 12636.534565209067,
      "turnover_quote_units": 160554.0182854663,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 24782.903904497965,
      "return_pct": 147.82903904497965,
      "cagr_pct": 148.08604972504926,
      "max_drawdown_pct": 57.287775658308426,
      "mean_exposure_while_solvent": 1.155809081072447,
      "realized_annual_volatility_pct": 74.68828667875351,
      "trading_costs_quote_units": 123.90256318954795,
      "borrowing_costs_quote_units": 678.5574720738421,
      "price_pnl_quote_units": 15585.363939761322,
      "turnover_quote_units": 206504.2719825799,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 23538.57960264947,
      "return_pct": 135.38579602649472,
      "cagr_pct": 135.61604029280625,
      "max_drawdown_pct": 54.15320499554406,
      "mean_exposure_while_solvent": 1.0475347299443125,
      "realized_annual_volatility_pct": 67.6945475182048,
      "trading_costs_quote_units": 241.747329356707,
      "borrowing_costs_quote_units": 530.4161801870574,
      "price_pnl_quote_units": 14310.743112193242,
      "turnover_quote_units": 402912.21559451206,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 309,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19523.91752185621,
      "return_pct": 95.23917521856208,
      "cagr_pct": 95.3884165350358,
      "max_drawdown_pct": 52.16811268255128,
      "mean_exposure_while_solvent": 0.9729669553345083,
      "realized_annual_volatility_pct": 64.06977272365775,
      "trading_costs_quote_units": 42.63966108766597,
      "borrowing_costs_quote_units": 47.70449087281779,
      "price_pnl_quote_units": 9614.261673816729,
      "turnover_quote_units": 71066.10181277666,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 125,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 20837.146050405816,
      "return_pct": 108.37146050405818,
      "cagr_pct": 108.54624409193514,
      "max_drawdown_pct": 47.697935018051,
      "mean_exposure_while_solvent": 0.9209908391388557,
      "realized_annual_volatility_pct": 58.65847596710794,
      "trading_costs_quote_units": 48.08567604892668,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10885.231726454718,
      "turnover_quote_units": 80142.79341487783,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 149,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 17207.547757680513,
      "return_pct": 72.07547757680513,
      "cagr_pct": 72.18217602184144,
      "max_drawdown_pct": 41.29184114754369,
      "mean_exposure_while_solvent": 0.7496219570383812,
      "realized_annual_volatility_pct": 49.13155044824835,
      "trading_costs_quote_units": 22.779211113001075,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7230.326968793491,
      "turnover_quote_units": 37965.35185500183,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19362.532616542925,
      "return_pct": 93.62532616542924,
      "cagr_pct": 93.77149696098658,
      "max_drawdown_pct": 52.615473656161996,
      "mean_exposure_while_solvent": 0.9995417048579285,
      "realized_annual_volatility_pct": 65.45423025630569,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9368.529018701594,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 20029.930397762284,
      "return_pct": 100.29930397762286,
      "cagr_pct": 100.45827112131471,
      "max_drawdown_pct": 63.41078421101862,
      "mean_exposure_while_solvent": 1.2496364860348066,
      "realized_annual_volatility_pct": 81.80142356458111,
      "trading_costs_quote_units": 49.48494678257485,
      "borrowing_costs_quote_units": 1113.2398703300805,
      "price_pnl_quote_units": 11192.655214874861,
      "turnover_quote_units": 82474.91130429125,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 20064.61629453481,
      "return_pct": 100.64616294534812,
      "cagr_pct": 100.80580216943802,
      "max_drawdown_pct": 72.28472437179026,
      "mean_exposure_while_solvent": 1.4999114521924082,
      "realized_annual_volatility_pct": 98.19742452558879,
      "trading_costs_quote_units": 123.48157455977031,
      "borrowing_costs_quote_units": 2475.00396664352,
      "price_pnl_quote_units": 12663.10183573807,
      "turnover_quote_units": 205802.62426628414,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 19196.183326270617,
      "return_pct": 91.96183326270616,
      "cagr_pct": 92.10485519515363,
      "max_drawdown_pct": 40.99634347020622,
      "mean_exposure_while_solvent": 0.777188800457398,
      "realized_annual_volatility_pct": 50.26769582970505,
      "trading_costs_quote_units": 88.15545126067147,
      "borrowing_costs_quote_units": 3.9064169568908427,
      "price_pnl_quote_units": 9288.245194488183,
      "turnover_quote_units": 146925.7521011193,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 22333.20587811208,
      "return_pct": 123.33205878112081,
      "cagr_pct": 123.53709227775207,
      "max_drawdown_pct": 50.65687889595186,
      "mean_exposure_while_solvent": 0.9892900690708875,
      "realized_annual_volatility_pct": 63.95569203057643,
      "trading_costs_quote_units": 96.87161812304336,
      "borrowing_costs_quote_units": 48.74249547173716,
      "price_pnl_quote_units": 12478.81999170683,
      "turnover_quote_units": 161452.69687173897,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 24621.955698365964,
      "return_pct": 146.21955698365966,
      "cagr_pct": 146.4730644939963,
      "max_drawdown_pct": 57.70053380323428,
      "mean_exposure_while_solvent": 1.1540463424848268,
      "realized_annual_volatility_pct": 74.97660752373692,
      "trading_costs_quote_units": 123.7429495855867,
      "borrowing_costs_quote_units": 169.48165907710725,
      "price_pnl_quote_units": 14915.180307028666,
      "turnover_quote_units": 206238.24930931118,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 23533.55304492158,
      "return_pct": 135.3355304492158,
      "cagr_pct": 135.56566809088127,
      "max_drawdown_pct": 55.81636385389306,
      "mean_exposure_while_solvent": 1.0465245076327547,
      "realized_annual_volatility_pct": 68.09495529489573,
      "trading_costs_quote_units": 248.2089986446025,
      "borrowing_costs_quote_units": 134.26731881997685,
      "price_pnl_quote_units": 13916.029362386154,
      "turnover_quote_units": 413681.6644076708,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 19925.634160046466,
      "return_pct": 99.25634160046467,
      "cagr_pct": 99.41329202612816,
      "max_drawdown_pct": 51.76752286010178,
      "mean_exposure_while_solvent": 0.972402619324267,
      "realized_annual_volatility_pct": 63.926666662559306,
      "trading_costs_quote_units": 44.05501248789799,
      "borrowing_costs_quote_units": 12.19332352284105,
      "price_pnl_quote_units": 9981.882496057144,
      "turnover_quote_units": 73425.02081316333,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 128,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 20841.705362203378,
      "return_pct": 108.41705362203378,
      "cagr_pct": 108.59192757386951,
      "max_drawdown_pct": 47.921942186265134,
      "mean_exposure_while_solvent": 0.9202660614317805,
      "realized_annual_volatility_pct": 58.671605075333744,
      "trading_costs_quote_units": 47.692806235481235,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10889.398168438905,
      "turnover_quote_units": 79488.01039246868,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 151,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 17178.006286184223,
      "return_pct": 71.78006286184224,
      "cagr_pct": 71.8862408253716,
      "max_drawdown_pct": 41.62136309892871,
      "mean_exposure_while_solvent": 0.7492737554486788,
      "realized_annual_volatility_pct": 49.13805955365558,
      "trading_costs_quote_units": 20.459849203612702,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7198.466135387823,
      "turnover_quote_units": 34099.7486726879,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 19526.68202913032,
      "return_pct": 95.2668202913032,
      "cagr_pct": 95.4161143388327,
      "max_drawdown_pct": 52.615473656161996,
      "mean_exposure_while_solvent": 0.9986251145737856,
      "realized_annual_volatility_pct": 65.45011682296806,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9532.678431289058,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21297.24158957688,
      "return_pct": 112.97241589576879,
      "cagr_pct": 113.15637554453919,
      "max_drawdown_pct": 62.393600218185206,
      "mean_exposure_while_solvent": 1.2478855287436386,
      "realized_annual_volatility_pct": 81.77317846746995,
      "trading_costs_quote_units": 45.302757737480384,
      "borrowing_costs_quote_units": 288.4807403142784,
      "price_pnl_quote_units": 11631.025087628648,
      "turnover_quote_units": 75504.59622913395,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 22604.368161937273,
      "return_pct": 126.04368161937272,
      "cagr_pct": 126.2543230445917,
      "max_drawdown_pct": 70.62296468732268,
      "mean_exposure_while_solvent": 1.4971010324952276,
      "realized_annual_volatility_pct": 98.12949361565055,
      "trading_costs_quote_units": 115.28658732832689,
      "borrowing_costs_quote_units": 662.867833832466,
      "price_pnl_quote_units": 13382.522583098173,
      "turnover_quote_units": 192144.3122138781,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 19189.152945285678,
      "return_pct": 91.89152945285677,
      "cagr_pct": 92.03441866792605,
      "max_drawdown_pct": 40.99634347020622,
      "mean_exposure_while_solvent": 0.7771893016578002,
      "realized_annual_volatility_pct": 50.267630345085415,
      "trading_costs_quote_units": 88.12589503127748,
      "borrowing_costs_quote_units": 7.811911049060291,
      "price_pnl_quote_units": 9285.090751365997,
      "turnover_quote_units": 146876.4917187959,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 22256.530476893364,
      "return_pct": 122.56530476893363,
      "cagr_pct": 122.76875934931284,
      "max_drawdown_pct": 50.67468794184907,
      "mean_exposure_while_solvent": 0.9892953596159333,
      "realized_annual_volatility_pct": 63.95590884211014,
      "trading_costs_quote_units": 96.60986002903543,
      "borrowing_costs_quote_units": 97.28896202702147,
      "price_pnl_quote_units": 12450.429298949395,
      "turnover_quote_units": 161016.4333817257,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 24403.761156781,
      "return_pct": 144.03761156781002,
      "cagr_pct": 144.28638913791204,
      "max_drawdown_pct": 57.7984106961824,
      "mean_exposure_while_solvent": 1.1540606486759117,
      "realized_annual_volatility_pct": 74.97716053568453,
      "trading_costs_quote_units": 123.06334896228329,
      "borrowing_costs_quote_units": 337.13098456491804,
      "price_pnl_quote_units": 14863.955490308163,
      "turnover_quote_units": 205105.5816038053,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 23367.247582661083,
      "return_pct": 133.67247582661085,
      "cagr_pct": 133.8990926980914,
      "max_drawdown_pct": 55.9167401491776,
      "mean_exposure_while_solvent": 1.046535908859511,
      "realized_annual_volatility_pct": 68.09581156154367,
      "trading_costs_quote_units": 247.0914791284896,
      "borrowing_costs_quote_units": 267.39097250638736,
      "price_pnl_quote_units": 13881.730034295966,
      "turnover_quote_units": 411819.13188081596,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 19904.054984054685,
      "return_pct": 99.04054984054684,
      "cagr_pct": 99.1970837806236,
      "max_drawdown_pct": 51.76954677377152,
      "mean_exposure_while_solvent": 0.9724041567739921,
      "realized_annual_volatility_pct": 63.92679434292331,
      "trading_costs_quote_units": 44.02068373675431,
      "borrowing_costs_quote_units": 24.374334240688594,
      "price_pnl_quote_units": 9972.450002032074,
      "turnover_quote_units": 73367.80622792384,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 128,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20841.705362203378,
      "return_pct": 108.41705362203378,
      "cagr_pct": 108.59192757386951,
      "max_drawdown_pct": 47.921942186265134,
      "mean_exposure_while_solvent": 0.9202660614317805,
      "realized_annual_volatility_pct": 58.671605075333744,
      "trading_costs_quote_units": 47.692806235481235,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10889.398168438905,
      "turnover_quote_units": 79488.01039246868,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 151,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 17178.006286184223,
      "return_pct": 71.78006286184224,
      "cagr_pct": 71.8862408253716,
      "max_drawdown_pct": 41.62136309892871,
      "mean_exposure_while_solvent": 0.7492737554486788,
      "realized_annual_volatility_pct": 49.13805955365558,
      "trading_costs_quote_units": 20.459849203612702,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7198.466135387823,
      "turnover_quote_units": 34099.7486726879,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 19526.68202913032,
      "return_pct": 95.2668202913032,
      "cagr_pct": 95.4161143388327,
      "max_drawdown_pct": 52.615473656161996,
      "mean_exposure_while_solvent": 0.9986251145737856,
      "realized_annual_volatility_pct": 65.45011682296806,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9532.678431289058,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21033.577520221963,
      "return_pct": 110.33577520221965,
      "cagr_pct": 110.51446230901706,
      "max_drawdown_pct": 62.619185709088676,
      "mean_exposure_while_solvent": 1.247903329444802,
      "realized_annual_volatility_pct": 81.77461637036208,
      "trading_costs_quote_units": 45.040285335945825,
      "borrowing_costs_quote_units": 572.8959411833583,
      "price_pnl_quote_units": 11651.513746741326,
      "turnover_quote_units": 75067.1422265764,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 22047.986513064025,
      "return_pct": 120.47986513064023,
      "cagr_pct": 120.67904065188868,
      "max_drawdown_pct": 70.97499964078736,
      "mean_exposure_while_solvent": 1.4971437533575211,
      "realized_annual_volatility_pct": 98.13295018031613,
      "trading_costs_quote_units": 113.82052903882614,
      "borrowing_costs_quote_units": 1306.948085814635,
      "price_pnl_quote_units": 13468.755127917575,
      "turnover_quote_units": 189700.8817313771,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 19175.096950247393,
      "return_pct": 91.75096950247392,
      "cagr_pct": 91.89359346115347,
      "max_drawdown_pct": 40.99634347020622,
      "mean_exposure_while_solvent": 0.7771903041986529,
      "realized_annual_volatility_pct": 50.26750027456942,
      "trading_costs_quote_units": 88.06680200526958,
      "borrowing_costs_quote_units": 15.620130670483423,
      "price_pnl_quote_units": 9278.783882923124,
      "turnover_quote_units": 146778.00334211587,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 22103.931611881984,
      "return_pct": 121.03931611881987,
      "cagr_pct": 121.23963735611953,
      "max_drawdown_pct": 50.710294653845835,
      "mean_exposure_while_solvent": 0.9893059426366344,
      "realized_annual_volatility_pct": 63.95635310265896,
      "trading_costs_quote_units": 96.08854381201303,
      "borrowing_costs_quote_units": 193.79656904257882,
      "price_pnl_quote_units": 12393.816724736655,
      "turnover_quote_units": 160147.57302002158,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 23973.046610712398,
      "return_pct": 139.73046610712396,
      "cagr_pct": 139.96997254178552,
      "max_drawdown_pct": 57.99353186997216,
      "mean_exposure_while_solvent": 1.1540892667247917,
      "realized_annual_volatility_pct": 74.97828545249645,
      "trading_costs_quote_units": 121.71632308451552,
      "borrowing_costs_quote_units": 667.0006963489478,
      "price_pnl_quote_units": 14761.763630145839,
      "turnover_quote_units": 202860.53847419267,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 23038.07056185673,
      "return_pct": 130.3807056185673,
      "cagr_pct": 130.60039368296293,
      "max_drawdown_pct": 56.11685994183881,
      "mean_exposure_while_solvent": 1.046558715816367,
      "realized_annual_volatility_pct": 68.0975437414451,
      "trading_costs_quote_units": 244.8725009593095,
      "borrowing_costs_quote_units": 530.2405013479048,
      "price_pnl_quote_units": 13813.18356416397,
      "turnover_quote_units": 408120.83493218274,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 19860.95696300247,
      "return_pct": 98.60956963002472,
      "cagr_pct": 98.76527256487523,
      "max_drawdown_pct": 51.77359507336345,
      "mean_exposure_while_solvent": 0.972407232166961,
      "realized_annual_volatility_pct": 63.92705256933902,
      "trading_costs_quote_units": 43.95210825305847,
      "borrowing_costs_quote_units": 48.69945802370826,
      "price_pnl_quote_units": 9953.608529279234,
      "turnover_quote_units": 73253.51375509749,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 128,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20841.705362203378,
      "return_pct": 108.41705362203378,
      "cagr_pct": 108.59192757386951,
      "max_drawdown_pct": 47.921942186265134,
      "mean_exposure_while_solvent": 0.9202660614317805,
      "realized_annual_volatility_pct": 58.671605075333744,
      "trading_costs_quote_units": 47.692806235481235,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10889.398168438905,
      "turnover_quote_units": 79488.01039246868,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 151,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 17178.006286184223,
      "return_pct": 71.78006286184224,
      "cagr_pct": 71.8862408253716,
      "max_drawdown_pct": 41.62136309892871,
      "mean_exposure_while_solvent": 0.7492737554486788,
      "realized_annual_volatility_pct": 49.13805955365558,
      "trading_costs_quote_units": 20.459849203612702,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7198.466135387823,
      "turnover_quote_units": 34099.7486726879,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 19526.68202913032,
      "return_pct": 95.2668202913032,
      "cagr_pct": 95.4161143388327,
      "max_drawdown_pct": 52.615473656161996,
      "mean_exposure_while_solvent": 0.9986251145737856,
      "realized_annual_volatility_pct": 65.45011682296806,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9532.678431289058,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20515.886671784192,
      "return_pct": 105.15886671784193,
      "cagr_pct": 105.32731194627543,
      "max_drawdown_pct": 63.06640573922429,
      "mean_exposure_while_solvent": 1.24793893638502,
      "realized_annual_volatility_pct": 81.77749309902615,
      "trading_costs_quote_units": 44.522335495333856,
      "borrowing_costs_quote_units": 1129.7284644947688,
      "price_pnl_quote_units": 11690.137471774291,
      "turnover_quote_units": 74203.89249222307,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20975.680740003063,
      "return_pct": 109.75680740003062,
      "cagr_pct": 109.93434178166162,
      "max_drawdown_pct": 71.66665501196726,
      "mean_exposure_while_solvent": 1.4972292137996186,
      "realized_annual_volatility_pct": 98.13986615075001,
      "trading_costs_quote_units": 110.95727771279604,
      "borrowing_costs_quote_units": 2540.5734038419555,
      "price_pnl_quote_units": 13627.211421557817,
      "turnover_quote_units": 184928.79618799355,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 18512.24122285453,
      "return_pct": 85.12241222854529,
      "cagr_pct": 85.25266257647152,
      "max_drawdown_pct": 40.969548504581454,
      "mean_exposure_while_solvent": 0.7777057448917041,
      "realized_annual_volatility_pct": 50.337303517482454,
      "trading_costs_quote_units": 429.41489320418094,
      "borrowing_costs_quote_units": 3.8659547889334394,
      "price_pnl_quote_units": 8945.52207084763,
      "turnover_quote_units": 143138.29773472715,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 22160.43329839369,
      "return_pct": 121.60433298393691,
      "cagr_pct": 121.80581298051933,
      "max_drawdown_pct": 49.99094711817686,
      "mean_exposure_while_solvent": 0.9904812842265092,
      "realized_annual_volatility_pct": 63.79612798003986,
      "trading_costs_quote_units": 480.16198080480996,
      "borrowing_costs_quote_units": 48.34454523205516,
      "price_pnl_quote_units": 12688.939824430503,
      "turnover_quote_units": 160053.99360160332,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 24918.55609098397,
      "return_pct": 149.18556090983967,
      "cagr_pct": 149.44553346510955,
      "max_drawdown_pct": 57.38274646635367,
      "mean_exposure_while_solvent": 1.1557648644167071,
      "realized_annual_volatility_pct": 74.67812213722833,
      "trading_costs_quote_units": 621.8659534992137,
      "borrowing_costs_quote_units": 170.28023634417002,
      "price_pnl_quote_units": 15710.702280827381,
      "turnover_quote_units": 207288.65116640457,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 23057.996949292305,
      "return_pct": 130.57996949292306,
      "cagr_pct": 130.80007546247398,
      "max_drawdown_pct": 54.736140623587715,
      "mean_exposure_while_solvent": 1.0474988911609093,
      "realized_annual_volatility_pct": 67.66377232373434,
      "trading_costs_quote_units": 1195.421359219404,
      "borrowing_costs_quote_units": 131.1778179460162,
      "price_pnl_quote_units": 14384.596126457729,
      "turnover_quote_units": 398473.78640646813,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 309,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 19375.95334308806,
      "return_pct": 93.7595334308806,
      "cagr_pct": 93.90595898515437,
      "max_drawdown_pct": 52.32013264812745,
      "mean_exposure_while_solvent": 0.9729619013308146,
      "realized_annual_volatility_pct": 64.06304320569575,
      "trading_costs_quote_units": 212.23582405905378,
      "borrowing_costs_quote_units": 11.87518737862124,
      "price_pnl_quote_units": 9600.064354525739,
      "turnover_quote_units": 70745.27468635124,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 125,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20652.9807602017,
      "return_pct": 106.529807602017,
      "cagr_pct": 106.70095066984433,
      "max_drawdown_pct": 47.950874450483795,
      "mean_exposure_while_solvent": 0.9209908391388557,
      "realized_annual_volatility_pct": 58.657455304731634,
      "trading_costs_quote_units": 239.1716379166574,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10892.152398118365,
      "turnover_quote_units": 79723.87930555249,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 149,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 17108.362792562515,
      "return_pct": 71.08362792562515,
      "cagr_pct": 71.18858116533863,
      "max_drawdown_pct": 41.42588742732887,
      "mean_exposure_while_solvent": 0.7496219570383812,
      "realized_annual_volatility_pct": 49.12946136609973,
      "trading_costs_quote_units": 113.50707015406347,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7221.869862716528,
      "turnover_quote_units": 37835.69005135449,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 19316.201531518298,
      "return_pct": 93.16201531518298,
      "cagr_pct": 93.30730745015194,
      "max_drawdown_pct": 52.61547365616198,
      "mean_exposure_while_solvent": 0.9995417048579285,
      "realized_annual_volatility_pct": 65.45500272891928,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9346.111800710712,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20594.542779302275,
      "return_pct": 105.94542779302274,
      "cagr_pct": 106.11541959738804,
      "max_drawdown_pct": 62.88631988612094,
      "mean_exposure_while_solvent": 1.2495819064882272,
      "realized_annual_volatility_pct": 81.79375593647869,
      "trading_costs_quote_units": 250.40548134215726,
      "borrowing_costs_quote_units": 282.38660160589563,
      "price_pnl_quote_units": 11127.334862250293,
      "turnover_quote_units": 83468.493780719,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21206.84970295698,
      "return_pct": 112.06849702956983,
      "cagr_pct": 112.25064486270813,
      "max_drawdown_pct": 71.5268959569519,
      "mean_exposure_while_solvent": 1.499780318492488,
      "realized_annual_volatility_pct": 98.1789939933379,
      "trading_costs_quote_units": 634.7540111591676,
      "borrowing_costs_quote_units": 637.7625787969306,
      "price_pnl_quote_units": 12479.366292913055,
      "turnover_quote_units": 211584.6703863893,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 18505.461098653464,
      "return_pct": 85.05461098653464,
      "cagr_pct": 85.18473615584954,
      "max_drawdown_pct": 40.96954850458149,
      "mean_exposure_while_solvent": 0.7777062498028723,
      "realized_annual_volatility_pct": 50.337264634416826,
      "trading_costs_quote_units": 429.27308595901513,
      "borrowing_costs_quote_units": 7.7309962991897345,
      "price_pnl_quote_units": 8942.465180911651,
      "turnover_quote_units": 143091.02865300493,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 22084.12657924704,
      "return_pct": 120.84126579247041,
      "cagr_pct": 121.04118125121062,
      "max_drawdown_pct": 50.008867235685294,
      "mean_exposure_while_solvent": 0.9904867942682312,
      "realized_annual_volatility_pct": 63.79653046385315,
      "trading_costs_quote_units": 478.84448409595717,
      "borrowing_costs_quote_units": 96.494372579077,
      "price_pnl_quote_units": 12659.465435922079,
      "turnover_quote_units": 159614.82803198585,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 24697.483424327722,
      "return_pct": 146.9748342432772,
      "cagr_pct": 147.22998418178062,
      "max_drawdown_pct": 57.48140845178644,
      "mean_exposure_while_solvent": 1.1557796012570127,
      "realized_annual_volatility_pct": 74.67890347128929,
      "trading_costs_quote_units": 618.4009541559566,
      "borrowing_costs_quote_units": 338.71051663912027,
      "price_pnl_quote_units": 15654.594895122835,
      "turnover_quote_units": 206133.65138531872,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 22894.96247198553,
      "return_pct": 128.9496247198553,
      "cagr_pct": 129.16631726264535,
      "max_drawdown_pct": 54.838476339025746,
      "mean_exposure_while_solvent": 1.047510835673088,
      "realized_annual_volatility_pct": 67.66474796510865,
      "trading_costs_quote_units": 1190.0362939019712,
      "borrowing_costs_quote_units": 261.2407555722477,
      "price_pnl_quote_units": 14346.239521459804,
      "turnover_quote_units": 396678.76463399036,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 309,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 19355.227756878012,
      "return_pct": 93.55227756878013,
      "cagr_pct": 93.69830974469144,
      "max_drawdown_pct": 52.322129957355855,
      "mean_exposure_while_solvent": 0.9729635857708187,
      "realized_annual_volatility_pct": 64.06322221632846,
      "trading_costs_quote_units": 212.07309759087167,
      "borrowing_costs_quote_units": 23.738758177674097,
      "price_pnl_quote_units": 9591.039612646588,
      "turnover_quote_units": 70691.03253029055,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 125,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20652.9807602017,
      "return_pct": 106.529807602017,
      "cagr_pct": 106.70095066984433,
      "max_drawdown_pct": 47.950874450483795,
      "mean_exposure_while_solvent": 0.9209908391388557,
      "realized_annual_volatility_pct": 58.657455304731634,
      "trading_costs_quote_units": 239.1716379166574,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10892.152398118365,
      "turnover_quote_units": 79723.87930555249,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 149,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 17108.362792562515,
      "return_pct": 71.08362792562515,
      "cagr_pct": 71.18858116533863,
      "max_drawdown_pct": 41.42588742732887,
      "mean_exposure_while_solvent": 0.7496219570383812,
      "realized_annual_volatility_pct": 49.12946136609973,
      "trading_costs_quote_units": 113.50707015406347,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7221.869862716528,
      "turnover_quote_units": 37835.69005135449,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 19316.201531518298,
      "return_pct": 93.16201531518298,
      "cagr_pct": 93.30730745015194,
      "max_drawdown_pct": 52.61547365616198,
      "mean_exposure_while_solvent": 0.9995417048579285,
      "realized_annual_volatility_pct": 65.45500272891928,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9346.111800710712,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20339.31116187686,
      "return_pct": 103.39311161876861,
      "cagr_pct": 103.55809751956015,
      "max_drawdown_pct": 63.10921736902579,
      "mean_exposure_while_solvent": 1.2496000977070885,
      "realized_annual_volatility_pct": 81.79553894089564,
      "trading_costs_quote_units": 248.899856397838,
      "borrowing_costs_quote_units": 560.7998224039528,
      "price_pnl_quote_units": 11149.010840678562,
      "turnover_quote_units": 82966.61879927924,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20684.242369121395,
      "return_pct": 106.84242369121395,
      "cagr_pct": 107.01418340878175,
      "max_drawdown_pct": 71.86864552026285,
      "mean_exposure_while_solvent": 1.4998240230868916,
      "realized_annual_volatility_pct": 98.1832845348286,
      "trading_costs_quote_units": 626.487381840816,
      "borrowing_costs_quote_units": 1257.5228246893132,
      "price_pnl_quote_units": 12568.25257565145,
      "turnover_quote_units": 208829.12728027184,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 18491.90544807253,
      "return_pct": 84.91905448072532,
      "cagr_pct": 85.0489294629365,
      "max_drawdown_pct": 40.96954850458147,
      "mean_exposure_while_solvent": 0.7777072597667575,
      "realized_annual_volatility_pct": 50.33718772469855,
      "trading_costs_quote_units": 428.9895650154193,
      "borrowing_costs_quote_units": 15.458339515884752,
      "price_pnl_quote_units": 8936.353352603805,
      "turnover_quote_units": 142996.52167180643,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 21932.23189880386,
      "return_pct": 119.32231898803862,
      "cagr_pct": 119.51912909945777,
      "max_drawdown_pct": 50.04469611861416,
      "mean_exposure_while_solvent": 0.9904978164927921,
      "realized_annual_volatility_pct": 63.79734608660262,
      "trading_costs_quote_units": 476.2340379757252,
      "borrowing_costs_quote_units": 192.2124004643254,
      "price_pnl_quote_units": 12600.67833724392,
      "turnover_quote_units": 158744.67932524174,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 24261.037913322063,
      "return_pct": 142.61037913322065,
      "cagr_pct": 142.85607486903697,
      "max_drawdown_pct": 57.67810528731887,
      "mean_exposure_while_solvent": 1.155809081072447,
      "realized_annual_volatility_pct": 74.68048446144738,
      "trading_costs_quote_units": 611.55783818709,
      "borrowing_costs_quote_units": 670.0888273252592,
      "price_pnl_quote_units": 15542.6845788344,
      "turnover_quote_units": 203852.61272903008,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 245,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 22572.211074473496,
      "return_pct": 125.72211074473496,
      "cagr_pct": 125.93208517233343,
      "max_drawdown_pct": 55.044373366944946,
      "mean_exposure_while_solvent": 1.0475347299443125,
      "realized_annual_volatility_pct": 67.6667191906446,
      "trading_costs_quote_units": 1179.3615213274293,
      "borrowing_costs_quote_units": 518.0533756536416,
      "price_pnl_quote_units": 14269.625971454643,
      "turnover_quote_units": 393120.5071091431,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 309,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19313.832651749446,
      "return_pct": 93.13832651749445,
      "cagr_pct": 93.28357376123355,
      "max_drawdown_pct": 52.3261250422471,
      "mean_exposure_while_solvent": 0.9729669553345083,
      "realized_annual_volatility_pct": 64.06358296912165,
      "trading_costs_quote_units": 211.74802594228015,
      "borrowing_costs_quote_units": 47.43108625312218,
      "price_pnl_quote_units": 9573.011763944847,
      "turnover_quote_units": 70582.67531409339,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 125,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 20652.9807602017,
      "return_pct": 106.529807602017,
      "cagr_pct": 106.70095066984433,
      "max_drawdown_pct": 47.950874450483795,
      "mean_exposure_while_solvent": 0.9209908391388557,
      "realized_annual_volatility_pct": 58.657455304731634,
      "trading_costs_quote_units": 239.1716379166574,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10892.152398118365,
      "turnover_quote_units": 79723.87930555249,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 149,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 17108.362792562515,
      "return_pct": 71.08362792562515,
      "cagr_pct": 71.18858116533863,
      "max_drawdown_pct": 41.42588742732887,
      "mean_exposure_while_solvent": 0.7496219570383812,
      "realized_annual_volatility_pct": 49.12946136609973,
      "trading_costs_quote_units": 113.50707015406347,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7221.869862716528,
      "turnover_quote_units": 37835.69005135449,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19316.201531518298,
      "return_pct": 93.16201531518298,
      "cagr_pct": 93.30730745015194,
      "max_drawdown_pct": 52.61547365616198,
      "mean_exposure_while_solvent": 0.9995417048579285,
      "realized_annual_volatility_pct": 65.45500272891928,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9346.111800710712,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19838.169244850134,
      "return_pct": 98.38169244850134,
      "cagr_pct": 98.53695642864841,
      "max_drawdown_pct": 63.55110475433459,
      "mean_exposure_while_solvent": 1.2496364860348066,
      "realized_annual_volatility_pct": 81.79910536202092,
      "trading_costs_quote_units": 245.92851106435683,
      "borrowing_costs_quote_units": 1105.8993151140976,
      "price_pnl_quote_units": 11189.997071028602,
      "turnover_quote_units": 81976.17035478554,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 19677.03274274613,
      "return_pct": 96.7703274274613,
      "cagr_pct": 96.9224960385813,
      "max_drawdown_pct": 72.54007540512515,
      "mean_exposure_while_solvent": 1.4999114521924082,
      "realized_annual_volatility_pct": 98.19186741105042,
      "trading_costs_quote_units": 610.3388196885413,
      "borrowing_costs_quote_units": 2444.77868130364,
      "price_pnl_quote_units": 12732.150243738313,
      "turnover_quote_units": 203446.27322951387,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 361,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 18836.3383126552,
      "return_pct": 88.36338312655201,
      "cagr_pct": 88.49965009635781,
      "max_drawdown_pct": 41.43007590329325,
      "mean_exposure_while_solvent": 0.777188800457398,
      "realized_annual_volatility_pct": 50.2728359902436,
      "trading_costs_quote_units": 435.99316622004517,
      "borrowing_costs_quote_units": 3.8917090970994583,
      "price_pnl_quote_units": 9276.223187972342,
      "turnover_quote_units": 145331.05540668181,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21919.680083833562,
      "return_pct": 119.19680083833563,
      "cagr_pct": 119.39335487679857,
      "max_drawdown_pct": 51.03192761221136,
      "mean_exposure_while_solvent": 0.9892900690708875,
      "realized_annual_volatility_pct": 63.95725296207427,
      "trading_costs_quote_units": 478.91601649575944,
      "borrowing_costs_quote_units": 48.33445237856677,
      "price_pnl_quote_units": 12446.930552707934,
      "turnover_quote_units": 159638.672165253,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 24105.726989908762,
      "return_pct": 141.05726989908766,
      "cagr_pct": 141.2996229141853,
      "max_drawdown_pct": 58.09208822851536,
      "mean_exposure_while_solvent": 1.1540463424848268,
      "realized_annual_volatility_pct": 74.98418728591206,
      "trading_costs_quote_units": 610.8520937027093,
      "borrowing_costs_quote_units": 167.40339604320573,
      "price_pnl_quote_units": 14883.982479654702,
      "turnover_quote_units": 203617.3645675699,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 22548.97498583861,
      "return_pct": 125.4897498583861,
      "cagr_pct": 125.69924265267235,
      "max_drawdown_pct": 56.693054354454354,
      "mean_exposure_while_solvent": 1.0465245076327547,
      "realized_annual_volatility_pct": 68.10746777058662,
      "trading_costs_quote_units": 1210.3378148326258,
      "borrowing_costs_quote_units": 131.07432979613995,
      "price_pnl_quote_units": 13890.38713046738,
      "turnover_quote_units": 403445.93827754195,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 19703.328126371165,
      "return_pct": 97.03328126371164,
      "cagr_pct": 97.18595397114646,
      "max_drawdown_pct": 51.926692461315604,
      "mean_exposure_while_solvent": 0.972402619324267,
      "realized_annual_volatility_pct": 63.93381104568405,
      "trading_costs_quote_units": 218.72256745402504,
      "borrowing_costs_quote_units": 12.122595440500556,
      "price_pnl_quote_units": 9934.173289265666,
      "turnover_quote_units": 72907.522484675,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 128,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 20657.717556619853,
      "return_pct": 106.57717556619852,
      "cagr_pct": 106.74841203474554,
      "max_drawdown_pct": 48.171476693745994,
      "mean_exposure_while_solvent": 0.9202660614317805,
      "realized_annual_volatility_pct": 58.67124983661305,
      "trading_costs_quote_units": 237.21723435920967,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10894.934790979009,
      "turnover_quote_units": 79072.41145306993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 151,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 17086.862414495532,
      "return_pct": 70.86862414495532,
      "cagr_pct": 70.9731999418655,
      "max_drawdown_pct": 41.72933027639299,
      "mean_exposure_while_solvent": 0.7492737554486788,
      "realized_annual_volatility_pct": 49.14053987124758,
      "trading_costs_quote_units": 101.97441924070694,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7188.836833736212,
      "turnover_quote_units": 33991.47308023566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 19479.95816385623,
      "return_pct": 94.7995816385623,
      "cagr_pct": 94.94798506313009,
      "max_drawdown_pct": 52.615473656161996,
      "mean_exposure_while_solvent": 0.9986251145737856,
      "realized_annual_volatility_pct": 65.45089077362182,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9509.86843304863,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21109.454351233326,
      "return_pct": 111.09454351233326,
      "cagr_pct": 111.27474408759528,
      "max_drawdown_pct": 62.51059389358258,
      "mean_exposure_while_solvent": 1.2478855287436386,
      "realized_annual_volatility_pct": 81.77741560616558,
      "trading_costs_quote_units": 225.21114165106235,
      "borrowing_costs_quote_units": 286.661019528296,
      "price_pnl_quote_units": 11621.326512412681,
      "turnover_quote_units": 75070.38055035414,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 22208.42547885204,
      "return_pct": 122.08425478852041,
      "cagr_pct": 122.28672032308836,
      "max_drawdown_pct": 70.84302247849614,
      "mean_exposure_while_solvent": 1.4971010324952276,
      "realized_annual_volatility_pct": 98.1387280681155,
      "trading_costs_quote_units": 570.2447949212236,
      "borrowing_costs_quote_units": 655.1940942070156,
      "price_pnl_quote_units": 13433.864367980372,
      "turnover_quote_units": 190081.59830707457,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 18829.444951496116,
      "return_pct": 88.29444951496117,
      "cagr_pct": 88.43058784659459,
      "max_drawdown_pct": 41.43007590329313,
      "mean_exposure_while_solvent": 0.7771893016578001,
      "realized_annual_volatility_pct": 50.27277162137823,
      "trading_costs_quote_units": 435.8472469480173,
      "borrowing_costs_quote_units": 7.782500652744859,
      "price_pnl_quote_units": 9273.0746990969,
      "turnover_quote_units": 145282.41564933906,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21844.474168509772,
      "return_pct": 118.44474168509774,
      "cagr_pct": 118.6397631519485,
      "max_drawdown_pct": 51.04959171521983,
      "mean_exposure_while_solvent": 0.9892953596159333,
      "realized_annual_volatility_pct": 63.957475155690325,
      "trading_costs_quote_units": 477.62486033169756,
      "borrowing_costs_quote_units": 96.47508267277811,
      "price_pnl_quote_units": 12418.574111514232,
      "turnover_quote_units": 159208.2867772324,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 23892.0661239166,
      "return_pct": 138.920661239166,
      "cagr_pct": 139.15843441183543,
      "max_drawdown_pct": 58.18918909893167,
      "mean_exposure_while_solvent": 1.1540606486759117,
      "realized_annual_volatility_pct": 74.98474876736714,
      "trading_costs_quote_units": 607.5050457147971,
      "borrowing_costs_quote_units": 333.0012836187845,
      "price_pnl_quote_units": 14832.572453250166,
      "turnover_quote_units": 202501.68190493243,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 22389.612450092754,
      "return_pct": 123.89612450092753,
      "cagr_pct": 124.10232145767202,
      "max_drawdown_pct": 56.791483992930914,
      "mean_exposure_while_solvent": 1.046535908859511,
      "realized_annual_volatility_pct": 68.10834427193055,
      "trading_costs_quote_units": 1204.907714113457,
      "borrowing_costs_quote_units": 261.0380060061104,
      "price_pnl_quote_units": 13855.558170212282,
      "turnover_quote_units": 401635.9047044852,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 19682.007106865207,
      "return_pct": 96.82007106865207,
      "cagr_pct": 96.97233501012347,
      "max_drawdown_pct": 51.92870744807294,
      "mean_exposure_while_solvent": 0.9724041567739921,
      "realized_annual_volatility_pct": 63.933942165360534,
      "trading_costs_quote_units": 218.55262661028672,
      "borrowing_costs_quote_units": 24.23297972813214,
      "price_pnl_quote_units": 9924.792713203597,
      "turnover_quote_units": 72850.8755367622,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 128,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20657.717556619853,
      "return_pct": 106.57717556619852,
      "cagr_pct": 106.74841203474554,
      "max_drawdown_pct": 48.171476693745994,
      "mean_exposure_while_solvent": 0.9202660614317805,
      "realized_annual_volatility_pct": 58.67124983661305,
      "trading_costs_quote_units": 237.21723435920967,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10894.934790979009,
      "turnover_quote_units": 79072.41145306993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 151,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 17086.862414495532,
      "return_pct": 70.86862414495532,
      "cagr_pct": 70.9731999418655,
      "max_drawdown_pct": 41.72933027639299,
      "mean_exposure_while_solvent": 0.7492737554486788,
      "realized_annual_volatility_pct": 49.14053987124758,
      "trading_costs_quote_units": 101.97441924070694,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7188.836833736212,
      "turnover_quote_units": 33991.47308023566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 19479.95816385623,
      "return_pct": 94.7995816385623,
      "cagr_pct": 94.94798506313009,
      "max_drawdown_pct": 52.615473656161996,
      "mean_exposure_while_solvent": 0.9986251145737856,
      "realized_annual_volatility_pct": 65.45089077362182,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9509.86843304863,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20848.116057505318,
      "return_pct": 108.48116057505317,
      "cagr_pct": 108.6561616039245,
      "max_drawdown_pct": 62.73555428602471,
      "mean_exposure_while_solvent": 1.247903329444802,
      "realized_annual_volatility_pct": 81.77886689433304,
      "trading_costs_quote_units": 223.91081376371588,
      "borrowing_costs_quote_units": 569.2857132150106,
      "price_pnl_quote_units": 11641.31258448408,
      "turnover_quote_units": 74636.93792123852,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21661.76901212708,
      "return_pct": 116.61769012127077,
      "cagr_pct": 116.80900072407239,
      "max_drawdown_pct": 71.19257923987831,
      "mean_exposure_while_solvent": 1.4971437533575211,
      "realized_annual_volatility_pct": 98.14221865221813,
      "trading_costs_quote_units": 563.0156677369869,
      "borrowing_costs_quote_units": 1291.8499262393068,
      "price_pnl_quote_units": 13516.634606103346,
      "turnover_quote_units": 187671.8892456622,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 18815.662898046856,
      "return_pct": 88.15662898046857,
      "cagr_pct": 88.29251020947164,
      "max_drawdown_pct": 41.43007590329321,
      "mean_exposure_while_solvent": 0.7771903041986529,
      "realized_annual_volatility_pct": 50.2726437816814,
      "trading_costs_quote_units": 435.5555042099213,
      "borrowing_costs_quote_units": 15.561331168836185,
      "price_pnl_quote_units": 9266.779733425592,
      "turnover_quote_units": 145185.16806997382,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21694.79935891448,
      "return_pct": 116.94799358914479,
      "cagr_pct": 117.13997375881142,
      "max_drawdown_pct": 51.08490864417854,
      "mean_exposure_while_solvent": 0.9893059426366343,
      "realized_annual_volatility_pct": 63.957930176488766,
      "trading_costs_quote_units": 475.05338535753924,
      "borrowing_costs_quote_units": 192.1776013222524,
      "price_pnl_quote_units": 12362.030345594247,
      "turnover_quote_units": 158351.12845251313,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 23470.302086924225,
      "return_pct": 134.70302086924227,
      "cagr_pct": 134.93181786617643,
      "max_drawdown_pct": 58.38276237075733,
      "mean_exposure_while_solvent": 1.1540892667247917,
      "realized_annual_volatility_pct": 74.98589065713783,
      "trading_costs_quote_units": 600.8708355945622,
      "borrowing_costs_quote_units": 658.8475137631775,
      "price_pnl_quote_units": 14730.020436281975,
      "turnover_quote_units": 200290.2785315207,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 248,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 22074.17822408348,
      "return_pct": 120.74178224083481,
      "cagr_pct": 120.9414939478012,
      "max_drawdown_pct": 56.98772245776791,
      "mean_exposure_while_solvent": 1.046558715816367,
      "realized_annual_volatility_pct": 68.11011696632502,
      "trading_costs_quote_units": 1194.1253887103092,
      "borrowing_costs_quote_units": 517.6655628646781,
      "price_pnl_quote_units": 13785.969175658489,
      "turnover_quote_units": 398041.79623676976,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 19639.424619624566,
      "return_pct": 96.39424619624566,
      "cagr_pct": 96.54569453881037,
      "max_drawdown_pct": 51.932737892032144,
      "mean_exposure_while_solvent": 0.972407232166961,
      "realized_annual_volatility_pct": 63.93420727376981,
      "trading_costs_quote_units": 218.21315024773816,
      "borrowing_costs_quote_units": 48.41715518293943,
      "price_pnl_quote_units": 9906.054925055281,
      "turnover_quote_units": 72737.71674924603,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 128,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20657.717556619853,
      "return_pct": 106.57717556619852,
      "cagr_pct": 106.74841203474554,
      "max_drawdown_pct": 48.171476693745994,
      "mean_exposure_while_solvent": 0.9202660614317805,
      "realized_annual_volatility_pct": 58.67124983661305,
      "trading_costs_quote_units": 237.21723435920967,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10894.934790979009,
      "turnover_quote_units": 79072.41145306993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 151,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 17086.862414495532,
      "return_pct": 70.86862414495532,
      "cagr_pct": 70.9731999418655,
      "max_drawdown_pct": 41.72933027639299,
      "mean_exposure_while_solvent": 0.7492737554486788,
      "realized_annual_volatility_pct": 49.14053987124758,
      "trading_costs_quote_units": 101.97441924070694,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 7188.836833736212,
      "turnover_quote_units": 33991.47308023566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 19479.95816385623,
      "return_pct": 94.7995816385623,
      "cagr_pct": 94.94798506313009,
      "max_drawdown_pct": 52.615473656161996,
      "mean_exposure_while_solvent": 0.9986251145737856,
      "realized_annual_volatility_pct": 65.45089077362182,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 9509.86843304863,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20334.98854595925,
      "return_pct": 103.3498854595925,
      "cagr_pct": 103.51478689446299,
      "max_drawdown_pct": 63.181539429238285,
      "mean_exposure_while_solvent": 1.24793893638502,
      "realized_annual_volatility_pct": 81.78177044181103,
      "trading_costs_quote_units": 221.34474272086808,
      "borrowing_costs_quote_units": 1122.6232674535277,
      "price_pnl_quote_units": 11678.956556133675,
      "turnover_quote_units": 73781.58090695605,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20608.200191100528,
      "return_pct": 106.08200191100528,
      "cagr_pct": 106.25226260490419,
      "max_drawdown_pct": 71.87937049737975,
      "mean_exposure_while_solvent": 1.4972292137996186,
      "realized_annual_volatility_pct": 98.14920280816666,
      "trading_costs_quote_units": 548.8962705435803,
      "borrowing_costs_quote_units": 2511.3478791683683,
      "price_pnl_quote_units": 13668.444340812468,
      "turnover_quote_units": 182965.42351452672,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 29841.5396482027,
      "return_pct": 198.415396482027,
      "cagr_pct": 197.89561350012667,
      "max_drawdown_pct": 42.85807326456567,
      "mean_exposure_while_solvent": 0.7731289412820692,
      "realized_annual_volatility_pct": 46.71891875219812,
      "trading_costs_quote_units": 59.34604135288067,
      "borrowing_costs_quote_units": 21.544411001136275,
      "price_pnl_quote_units": 19922.430100556736,
      "turnover_quote_units": 98910.06892146777,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 39078.55957358892,
      "return_pct": 290.7855957358892,
      "cagr_pct": 289.9372116157604,
      "max_drawdown_pct": 58.960112018585264,
      "mean_exposure_while_solvent": 1.1068923924600476,
      "realized_annual_volatility_pct": 69.52943772041318,
      "trading_costs_quote_units": 75.96435800165055,
      "borrowing_costs_quote_units": 129.97834967798315,
      "price_pnl_quote_units": 29284.502281268546,
      "turnover_quote_units": 126607.26333608423,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 44994.12997327276,
      "return_pct": 349.94129973272754,
      "cagr_pct": 348.86359135631403,
      "max_drawdown_pct": 70.22949032407384,
      "mean_exposure_while_solvent": 1.3220516720076159,
      "realized_annual_volatility_pct": 89.74003483331519,
      "trading_costs_quote_units": 69.94438830815108,
      "borrowing_costs_quote_units": 261.23155255882205,
      "price_pnl_quote_units": 35325.30591413973,
      "turnover_quote_units": 116573.98051358505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 39410.5553878663,
      "return_pct": 294.105553878663,
      "cagr_pct": 293.24465759699666,
      "max_drawdown_pct": 57.67228109207131,
      "mean_exposure_while_solvent": 1.1294385627662875,
      "realized_annual_volatility_pct": 68.8639335789789,
      "trading_costs_quote_units": 127.31340769533388,
      "borrowing_costs_quote_units": 141.47731520445717,
      "price_pnl_quote_units": 29679.34611076608,
      "turnover_quote_units": 212189.0128255566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 36957.89915211866,
      "return_pct": 269.57899152118665,
      "cagr_pct": 268.8094564638254,
      "max_drawdown_pct": 61.01914020722011,
      "mean_exposure_while_solvent": 1.0856534161657954,
      "realized_annual_volatility_pct": 71.87392562097624,
      "trading_costs_quote_units": 49.06768820735882,
      "borrowing_costs_quote_units": 125.77709623328683,
      "price_pnl_quote_units": 27132.74393655932,
      "turnover_quote_units": 81779.48034559804,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 32731.65878412504,
      "return_pct": 227.31658784125042,
      "cagr_pct": 226.69830530856143,
      "max_drawdown_pct": 53.33937913927961,
      "mean_exposure_while_solvent": 0.9141706596925023,
      "realized_annual_volatility_pct": 59.98059510239537,
      "trading_costs_quote_units": 26.35193540192342,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 22758.010719526956,
      "turnover_quote_units": 43919.89233653901,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 127,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 29851.999883936645,
      "return_pct": 198.51999883936645,
      "cagr_pct": 197.99986712948754,
      "max_drawdown_pct": 45.10659265819581,
      "mean_exposure_while_solvent": 0.7498588346251662,
      "realized_annual_volatility_pct": 50.447528160391876,
      "trading_costs_quote_units": 18.26133436454444,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19870.26121830116,
      "turnover_quote_units": 30435.557274240713,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 40318.757655148336,
      "return_pct": 303.1875765514833,
      "cagr_pct": 302.29222630220784,
      "max_drawdown_pct": 56.072000169077626,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 68.3021045467923,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30324.754057307073,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 51776.69367873436,
      "return_pct": 417.7669367873436,
      "cagr_pct": 416.4111412721221,
      "max_drawdown_pct": 65.41620559090718,
      "mean_exposure_while_solvent": 1.249221084908388,
      "realized_annual_volatility_pct": 87.09317564807833,
      "trading_costs_quote_units": 34.40294068648538,
      "borrowing_costs_quote_units": 204.36718042136184,
      "price_pnl_quote_units": 42015.46379984217,
      "turnover_quote_units": 57338.234477475664,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 63962.276923552934,
      "return_pct": 539.6227692355294,
      "cagr_pct": 537.7329303123574,
      "max_drawdown_pct": 73.25786266946133,
      "mean_exposure_while_solvent": 1.4989627565356762,
      "realized_annual_volatility_pct": 107.33674364321904,
      "trading_costs_quote_units": 76.72682630272215,
      "borrowing_costs_quote_units": 424.875486368927,
      "price_pnl_quote_units": 54463.87923622452,
      "turnover_quote_units": 127878.0438378702,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 29789.679422857807,
      "return_pct": 197.89679422857807,
      "cagr_pct": 197.37873932488256,
      "max_drawdown_pct": 42.85807326456567,
      "mean_exposure_while_solvent": 0.7731315647174286,
      "realized_annual_volatility_pct": 46.71846779157358,
      "trading_costs_quote_units": 59.29698936664072,
      "borrowing_costs_quote_units": 43.051534943560654,
      "price_pnl_quote_units": 19892.027947168048,
      "turnover_quote_units": 98828.31561106793,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 38704.258179678254,
      "return_pct": 287.04258179678254,
      "cagr_pct": 286.2082504858963,
      "max_drawdown_pct": 59.00205854032755,
      "mean_exposure_while_solvent": 1.1069074161429475,
      "realized_annual_volatility_pct": 69.53035111539671,
      "trading_costs_quote_units": 75.6320356762912,
      "borrowing_costs_quote_units": 258.64248258482877,
      "price_pnl_quote_units": 29038.53269793933,
      "turnover_quote_units": 126053.39279381865,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 44184.86885053852,
      "return_pct": 341.8486885053852,
      "cagr_pct": 340.80312045849917,
      "max_drawdown_pct": 70.2903107542657,
      "mean_exposure_while_solvent": 1.3220819312935082,
      "realized_annual_volatility_pct": 89.74416555358285,
      "trading_costs_quote_units": 69.30653491431354,
      "borrowing_costs_quote_units": 517.2057153805251,
      "price_pnl_quote_units": 34771.38110083336,
      "turnover_quote_units": 115510.89152385584,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 39010.78730968979,
      "return_pct": 290.1078730968979,
      "cagr_pct": 289.26203766382514,
      "max_drawdown_pct": 57.710009296480514,
      "mean_exposure_while_solvent": 1.1294551569348155,
      "realized_annual_volatility_pct": 68.86477234125284,
      "trading_costs_quote_units": 126.6325269646483,
      "borrowing_costs_quote_units": 281.452592982282,
      "price_pnl_quote_units": 29418.87242963672,
      "turnover_quote_units": 211054.2116077469,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36617.020035987065,
      "return_pct": 266.17020035987065,
      "cagr_pct": 265.4131621266818,
      "max_drawdown_pct": 61.051904289739255,
      "mean_exposure_while_solvent": 1.0856677894812423,
      "realized_annual_volatility_pct": 71.87518401648379,
      "trading_costs_quote_units": 48.86281557935017,
      "borrowing_costs_quote_units": 250.31039802796727,
      "price_pnl_quote_units": 26916.1932495944,
      "turnover_quote_units": 81438.0259655837,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 32731.65878412504,
      "return_pct": 227.31658784125042,
      "cagr_pct": 226.69830530856143,
      "max_drawdown_pct": 53.33937913927961,
      "mean_exposure_while_solvent": 0.9141706596925023,
      "realized_annual_volatility_pct": 59.98059510239537,
      "trading_costs_quote_units": 26.35193540192342,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 22758.010719526956,
      "turnover_quote_units": 43919.89233653901,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 127,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 29851.999883936645,
      "return_pct": 198.51999883936645,
      "cagr_pct": 197.99986712948754,
      "max_drawdown_pct": 45.10659265819581,
      "mean_exposure_while_solvent": 0.7498588346251662,
      "realized_annual_volatility_pct": 50.447528160391876,
      "trading_costs_quote_units": 18.26133436454444,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19870.26121830116,
      "turnover_quote_units": 30435.557274240713,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 40318.757655148336,
      "return_pct": 303.1875765514833,
      "cagr_pct": 302.29222630220784,
      "max_drawdown_pct": 56.072000169077626,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 68.3021045467923,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30324.754057307073,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 51134.879995017116,
      "return_pct": 411.34879995017116,
      "cagr_pct": 410.01995431698884,
      "max_drawdown_pct": 65.45577153142162,
      "mean_exposure_while_solvent": 1.2492388650849007,
      "realized_annual_volatility_pct": 87.0952441227848,
      "trading_costs_quote_units": 34.16844048343676,
      "borrowing_costs_quote_units": 405.70944981996047,
      "price_pnl_quote_units": 41574.75788532054,
      "turnover_quote_units": 56947.40080572796,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 62386.350871238006,
      "return_pct": 523.86350871238,
      "cagr_pct": 522.0449760256711,
      "max_drawdown_pct": 73.31963082660364,
      "mean_exposure_while_solvent": 1.49900545752542,
      "realized_annual_volatility_pct": 107.34231695711294,
      "trading_costs_quote_units": 75.605396670315,
      "borrowing_costs_quote_units": 836.9078536982663,
      "price_pnl_quote_units": 53298.86412160659,
      "turnover_quote_units": 126008.99445052505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29686.204855383374,
      "return_pct": 196.86204855383374,
      "cagr_pct": 196.3474373234085,
      "max_drawdown_pct": 42.85807326456567,
      "mean_exposure_while_solvent": 0.7731368125062079,
      "realized_annual_volatility_pct": 46.71757263988386,
      "trading_costs_quote_units": 59.199070480986066,
      "borrowing_costs_quote_units": 85.95414497373282,
      "price_pnl_quote_units": 19831.358070838116,
      "turnover_quote_units": 98665.11746830991,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 37966.18878713123,
      "return_pct": 279.6618878713123,
      "cagr_pct": 278.8550976906,
      "max_drawdown_pct": 59.085842056515204,
      "mean_exposure_while_solvent": 1.1069374691219052,
      "realized_annual_volatility_pct": 69.5321944655791,
      "trading_costs_quote_units": 74.97758704330606,
      "borrowing_costs_quote_units": 512.0793276244597,
      "price_pnl_quote_units": 28553.245701798984,
      "turnover_quote_units": 124962.64507217673,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 42609.320684990096,
      "return_pct": 326.093206849901,
      "cagr_pct": 325.1095334043721,
      "max_drawdown_pct": 70.41161253748614,
      "mean_exposure_while_solvent": 1.3221424625104474,
      "realized_annual_volatility_pct": 89.75244307815052,
      "trading_costs_quote_units": 68.0637054642934,
      "borrowing_costs_quote_units": 1013.7910893709706,
      "price_pnl_quote_units": 33691.17547982535,
      "turnover_quote_units": 113439.50910715571,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 38223.17380262447,
      "return_pct": 282.2317380262447,
      "cagr_pct": 281.4153840664415,
      "max_drawdown_pct": 57.785382642284574,
      "mean_exposure_while_solvent": 1.1294883519466412,
      "realized_annual_volatility_pct": 68.86647262343062,
      "trading_costs_quote_units": 125.2868314388548,
      "borrowing_costs_quote_units": 556.9587744125661,
      "price_pnl_quote_units": 28905.419408475886,
      "turnover_quote_units": 208811.38573142467,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 35944.49951359468,
      "return_pct": 259.4449951359468,
      "cagr_pct": 258.7124635901511,
      "max_drawdown_pct": 61.11736385373037,
      "mean_exposure_while_solvent": 1.0856965414141142,
      "realized_annual_volatility_pct": 71.87771649643062,
      "trading_costs_quote_units": 48.45788176167019,
      "borrowing_costs_quote_units": 495.6930545376428,
      "price_pnl_quote_units": 26488.650449893965,
      "turnover_quote_units": 80763.13626945045,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 32731.65878412504,
      "return_pct": 227.31658784125042,
      "cagr_pct": 226.69830530856143,
      "max_drawdown_pct": 53.33937913927961,
      "mean_exposure_while_solvent": 0.9141706596925023,
      "realized_annual_volatility_pct": 59.98059510239537,
      "trading_costs_quote_units": 26.35193540192342,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 22758.010719526956,
      "turnover_quote_units": 43919.89233653901,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 127,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29851.999883936645,
      "return_pct": 198.51999883936645,
      "cagr_pct": 197.99986712948754,
      "max_drawdown_pct": 45.10659265819581,
      "mean_exposure_while_solvent": 0.7498588346251662,
      "realized_annual_volatility_pct": 50.447528160391876,
      "trading_costs_quote_units": 18.26133436454444,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19870.26121830116,
      "turnover_quote_units": 30435.557274240713,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 40318.757655148336,
      "return_pct": 303.1875765514833,
      "cagr_pct": 302.29222630220784,
      "max_drawdown_pct": 56.072000169077626,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 68.3021045467923,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30324.754057307073,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 49874.73495118696,
      "return_pct": 398.7473495118696,
      "cagr_pct": 397.47104396290734,
      "max_drawdown_pct": 65.53478524037091,
      "mean_exposure_while_solvent": 1.2492744309115036,
      "realized_annual_volatility_pct": 87.09938192121326,
      "trading_costs_quote_units": 33.71066897706413,
      "borrowing_costs_quote_units": 799.4848821043944,
      "price_pnl_quote_units": 40707.930502268406,
      "turnover_quote_units": 56184.44829510689,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 59349.18802821983,
      "return_pct": 493.4918802821984,
      "cagr_pct": 491.8089737876053,
      "max_drawdown_pct": 73.4427735830949,
      "mean_exposure_while_solvent": 1.4990908780465158,
      "realized_annual_volatility_pct": 107.35346746651457,
      "trading_costs_quote_units": 73.4405353245563,
      "borrowing_costs_quote_units": 1623.874775174553,
      "price_pnl_quote_units": 51046.503338718954,
      "turnover_quote_units": 122400.89220759373,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 30247.286160390795,
      "return_pct": 202.47286160390794,
      "cagr_pct": 201.9395091553736,
      "max_drawdown_pct": 43.420941447028625,
      "mean_exposure_while_solvent": 0.7726483774256109,
      "realized_annual_volatility_pct": 47.18773359982391,
      "trading_costs_quote_units": 61.56580622890726,
      "borrowing_costs_quote_units": 21.597206401390107,
      "price_pnl_quote_units": 20330.449173021076,
      "turnover_quote_units": 102609.67704817877,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 40263.579771471464,
      "return_pct": 302.6357977147146,
      "cagr_pct": 301.7425500649435,
      "max_drawdown_pct": 58.848860125657964,
      "mean_exposure_while_solvent": 1.1055723394843178,
      "realized_annual_volatility_pct": 69.31152550123937,
      "trading_costs_quote_units": 74.81245455992544,
      "borrowing_costs_quote_units": 131.75801596750426,
      "price_pnl_quote_units": 30470.150241998945,
      "turnover_quote_units": 124687.4242665425,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 46880.33167961395,
      "return_pct": 368.8033167961395,
      "cagr_pct": 367.64980637965704,
      "max_drawdown_pct": 68.89974006538327,
      "mean_exposure_while_solvent": 1.3199778882220854,
      "realized_annual_volatility_pct": 87.27577814909793,
      "trading_costs_quote_units": 70.53517355358204,
      "borrowing_costs_quote_units": 268.4980019914071,
      "price_pnl_quote_units": 37219.36485515894,
      "turnover_quote_units": 117558.62258930346,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 39838.92598568338,
      "return_pct": 298.3892598568338,
      "cagr_pct": 297.5121536780332,
      "max_drawdown_pct": 57.927631568374785,
      "mean_exposure_while_solvent": 1.1283487954509297,
      "realized_annual_volatility_pct": 68.76234895857658,
      "trading_costs_quote_units": 128.64941589827265,
      "borrowing_costs_quote_units": 141.83384249663249,
      "price_pnl_quote_units": 30109.40924407825,
      "turnover_quote_units": 214415.69316378803,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 37684.804694383194,
      "return_pct": 276.84804694383195,
      "cagr_pct": 276.0516968611306,
      "max_drawdown_pct": 60.46673250558614,
      "mean_exposure_while_solvent": 1.0843463178824702,
      "realized_annual_volatility_pct": 71.27161240638252,
      "trading_costs_quote_units": 48.548621546773006,
      "borrowing_costs_quote_units": 127.3111868494881,
      "price_pnl_quote_units": 27860.664502779444,
      "turnover_quote_units": 80914.36924462176,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 32965.36346294139,
      "return_pct": 229.6536346294139,
      "cagr_pct": 229.0272048624522,
      "max_drawdown_pct": 53.3393791392796,
      "mean_exposure_while_solvent": 0.9133946148871551,
      "realized_annual_volatility_pct": 60.0487831511231,
      "trading_costs_quote_units": 26.91407359161513,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 22992.27753653302,
      "turnover_quote_units": 44856.78931935853,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 127,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 29666.13450920201,
      "return_pct": 196.6613450920201,
      "cagr_pct": 196.1474011473151,
      "max_drawdown_pct": 45.311898925943204,
      "mean_exposure_while_solvent": 0.7494634408986918,
      "realized_annual_volatility_pct": 50.890091726865805,
      "trading_costs_quote_units": 17.690702627498005,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19683.82521182949,
      "turnover_quote_units": 29484.504379163336,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 40160.03801080172,
      "return_pct": 301.60038010801725,
      "cagr_pct": 300.7110747607646,
      "max_drawdown_pct": 56.07200016907762,
      "mean_exposure_while_solvent": 0.9986338797814207,
      "realized_annual_volatility_pct": 68.30001182420675,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30166.034412960427,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 51910.416897026276,
      "return_pct": 419.1041689702628,
      "cagr_pct": 417.7427424367072,
      "max_drawdown_pct": 65.14055044818878,
      "mean_exposure_while_solvent": 1.2475766575420937,
      "realized_annual_volatility_pct": 86.04324992312677,
      "trading_costs_quote_units": 33.37516615923036,
      "borrowing_costs_quote_units": 204.22685321637576,
      "price_pnl_quote_units": 42148.01891640192,
      "turnover_quote_units": 55625.27693205063,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 64939.80804278253,
      "return_pct": 549.3980804278253,
      "cagr_pct": 547.4637002560706,
      "max_drawdown_pct": 72.66448375743637,
      "mean_exposure_while_solvent": 1.4963298005861025,
      "realized_annual_volatility_pct": 104.20006491951357,
      "trading_costs_quote_units": 74.75468317506972,
      "borrowing_costs_quote_units": 429.1673731361402,
      "price_pnl_quote_units": 55443.73009909375,
      "turnover_quote_units": 124591.13862511616,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 30194.74866760018,
      "return_pct": 201.94748667600177,
      "cagr_pct": 201.4158961496279,
      "max_drawdown_pct": 43.420941447028625,
      "mean_exposure_while_solvent": 0.7726509921643313,
      "realized_annual_volatility_pct": 47.18725158607865,
      "trading_costs_quote_units": 61.51508007190467,
      "borrowing_costs_quote_units": 43.15697311138874,
      "price_pnl_quote_units": 20299.42072078348,
      "turnover_quote_units": 102525.13345317444,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 39878.117346934814,
      "return_pct": 298.7811734693481,
      "cagr_pct": 297.90258059188244,
      "max_drawdown_pct": 58.89125989677011,
      "mean_exposure_while_solvent": 1.105587304586255,
      "realized_annual_volatility_pct": 69.31227232645882,
      "trading_costs_quote_units": 74.49018100519784,
      "borrowing_costs_quote_units": 262.1753206563473,
      "price_pnl_quote_units": 30214.78284859634,
      "turnover_quote_units": 124150.30167532983,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 46038.01869424684,
      "return_pct": 360.3801869424684,
      "cagr_pct": 359.2606790074263,
      "max_drawdown_pct": 68.96289604295094,
      "mean_exposure_while_solvent": 1.320007982153871,
      "realized_annual_volatility_pct": 87.2790500571102,
      "trading_costs_quote_units": 69.88982896799514,
      "borrowing_costs_quote_units": 531.5451067633718,
      "price_pnl_quote_units": 36639.45362997818,
      "turnover_quote_units": 116483.04827999203,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 39434.77855521869,
      "return_pct": 294.3477855521869,
      "cagr_pct": 293.48597461130583,
      "max_drawdown_pct": 57.966072189339734,
      "mean_exposure_while_solvent": 1.1283653472819801,
      "realized_annual_volatility_pct": 68.76312425720316,
      "trading_costs_quote_units": 127.96374540521465,
      "borrowing_costs_quote_units": 282.1576360024619,
      "price_pnl_quote_units": 29844.899936626356,
      "turnover_quote_units": 213272.90900869115,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 37337.34506883013,
      "return_pct": 273.3734506883013,
      "cagr_pct": 272.5899461994992,
      "max_drawdown_pct": 60.49985880746477,
      "mean_exposure_while_solvent": 1.0843606375606705,
      "realized_annual_volatility_pct": 71.27266636028283,
      "trading_costs_quote_units": 48.3535678463195,
      "borrowing_costs_quote_units": 253.3574295711138,
      "price_pnl_quote_units": 27639.05606624755,
      "turnover_quote_units": 80589.27974386586,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 32965.36346294139,
      "return_pct": 229.6536346294139,
      "cagr_pct": 229.0272048624522,
      "max_drawdown_pct": 53.3393791392796,
      "mean_exposure_while_solvent": 0.9133946148871551,
      "realized_annual_volatility_pct": 60.0487831511231,
      "trading_costs_quote_units": 26.91407359161513,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 22992.27753653302,
      "turnover_quote_units": 44856.78931935853,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 127,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 29666.13450920201,
      "return_pct": 196.6613450920201,
      "cagr_pct": 196.1474011473151,
      "max_drawdown_pct": 45.311898925943204,
      "mean_exposure_while_solvent": 0.7494634408986918,
      "realized_annual_volatility_pct": 50.890091726865805,
      "trading_costs_quote_units": 17.690702627498005,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19683.82521182949,
      "turnover_quote_units": 29484.504379163336,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 40160.03801080172,
      "return_pct": 301.60038010801725,
      "cagr_pct": 300.7110747607646,
      "max_drawdown_pct": 56.07200016907762,
      "mean_exposure_while_solvent": 0.9986338797814207,
      "realized_annual_volatility_pct": 68.30001182420675,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30166.034412960427,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 51267.57606021019,
      "return_pct": 412.6757606021019,
      "cagr_pct": 411.3413534716302,
      "max_drawdown_pct": 65.1805227275946,
      "mean_exposure_while_solvent": 1.2475943616002583,
      "realized_annual_volatility_pct": 86.04506392772922,
      "trading_costs_quote_units": 33.15351893762287,
      "borrowing_costs_quote_units": 405.4301158095798,
      "price_pnl_quote_units": 41706.15969495736,
      "turnover_quote_units": 55255.864896038074,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 63341.56759155328,
      "return_pct": 533.4156759155328,
      "cagr_pct": 531.5539967734748,
      "max_drawdown_pct": 72.72772393470348,
      "mean_exposure_while_solvent": 1.4963722570315714,
      "realized_annual_volatility_pct": 104.20457033278115,
      "trading_costs_quote_units": 73.6664642131057,
      "borrowing_costs_quote_units": 845.3301468840729,
      "price_pnl_quote_units": 54260.564202650436,
      "turnover_quote_units": 122777.44035517615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 30089.922635417184,
      "return_pct": 200.89922635417184,
      "cagr_pct": 200.37114697961152,
      "max_drawdown_pct": 43.420941447028625,
      "mean_exposure_while_solvent": 0.7726562225579506,
      "realized_annual_volatility_pct": 47.18629443029327,
      "trading_costs_quote_units": 61.41382200818517,
      "borrowing_costs_quote_units": 86.16441174270983,
      "price_pnl_quote_units": 20237.500869168085,
      "turnover_quote_units": 102356.37001364201,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 39118.04238080911,
      "return_pct": 291.18042380809106,
      "cagr_pct": 290.3305540113756,
      "max_drawdown_pct": 58.975947852645625,
      "mean_exposure_while_solvent": 1.1056172403748965,
      "realized_annual_volatility_pct": 69.31378331564424,
      "trading_costs_quote_units": 73.85234233125739,
      "borrowing_costs_quote_units": 519.0402154727337,
      "price_pnl_quote_units": 29710.934938613118,
      "turnover_quote_units": 123087.23721876236,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 44398.08942400818,
      "return_pct": 343.9808942400818,
      "cagr_pct": 342.92688066615256,
      "max_drawdown_pct": 69.08885823427383,
      "mean_exposure_while_solvent": 1.3200681825542004,
      "realized_annual_volatility_pct": 87.28561054562154,
      "trading_costs_quote_units": 68.62749850137479,
      "borrowing_costs_quote_units": 1041.7117083946582,
      "price_pnl_quote_units": 35508.42863090415,
      "turnover_quote_units": 114379.16416895807,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 38638.533285126396,
      "return_pct": 286.38533285126397,
      "cagr_pct": 285.5534632031275,
      "max_drawdown_pct": 58.04286671342888,
      "mean_exposure_while_solvent": 1.1283984575977608,
      "realized_annual_volatility_pct": 68.7646980683334,
      "trading_costs_quote_units": 126.61040311158305,
      "borrowing_costs_quote_units": 558.3372102240587,
      "price_pnl_quote_units": 29323.48089846202,
      "turnover_quote_units": 211017.33851930534,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 36651.83614419713,
      "return_pct": 266.51836144197125,
      "cagr_pct": 265.7600491340157,
      "max_drawdown_pct": 60.56604236745737,
      "mean_exposure_while_solvent": 1.08438928219334,
      "realized_annual_volatility_pct": 71.2747906312558,
      "trading_costs_quote_units": 47.968972414689006,
      "borrowing_costs_quote_units": 501.70338291973536,
      "price_pnl_quote_units": 27201.508499531526,
      "turnover_quote_units": 79948.28735781505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 32965.36346294139,
      "return_pct": 229.6536346294139,
      "cagr_pct": 229.0272048624522,
      "max_drawdown_pct": 53.3393791392796,
      "mean_exposure_while_solvent": 0.9133946148871551,
      "realized_annual_volatility_pct": 60.0487831511231,
      "trading_costs_quote_units": 26.91407359161513,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 22992.27753653302,
      "turnover_quote_units": 44856.78931935853,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 127,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29666.13450920201,
      "return_pct": 196.6613450920201,
      "cagr_pct": 196.1474011473151,
      "max_drawdown_pct": 45.311898925943204,
      "mean_exposure_while_solvent": 0.7494634408986918,
      "realized_annual_volatility_pct": 50.890091726865805,
      "trading_costs_quote_units": 17.690702627498005,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19683.82521182949,
      "turnover_quote_units": 29484.504379163336,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 40160.03801080172,
      "return_pct": 301.60038010801725,
      "cagr_pct": 300.7110747607646,
      "max_drawdown_pct": 56.07200016907762,
      "mean_exposure_while_solvent": 0.9986338797814207,
      "realized_annual_volatility_pct": 68.30001182420675,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30166.034412960427,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 50005.3898833322,
      "return_pct": 400.053898833322,
      "cagr_pct": 398.7721690757506,
      "max_drawdown_pct": 65.26034788529114,
      "mean_exposure_while_solvent": 1.2476297751592065,
      "realized_annual_volatility_pct": 86.04869319586632,
      "trading_costs_quote_units": 32.720572415546414,
      "borrowing_costs_quote_units": 798.9312277849812,
      "price_pnl_quote_units": 40837.04168353269,
      "turnover_quote_units": 54534.287359244045,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 60261.26812561239,
      "return_pct": 502.61268125612395,
      "cagr_pct": 500.8892989343183,
      "max_drawdown_pct": 72.85380115834022,
      "mean_exposure_while_solvent": 1.4964571882922075,
      "realized_annual_volatility_pct": 104.21358521554652,
      "trading_costs_quote_units": 71.56499758052783,
      "borrowing_costs_quote_units": 1640.0905329651816,
      "price_pnl_quote_units": 51972.923656158084,
      "turnover_quote_units": 119274.99596754642,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 29292.755348445215,
      "return_pct": 192.92755348445218,
      "cagr_pct": 192.42598389883287,
      "max_drawdown_pct": 42.922688571021936,
      "mean_exposure_while_solvent": 0.7731289412820692,
      "realized_annual_volatility_pct": 46.710547587263996,
      "trading_costs_quote_units": 293.6614581656839,
      "borrowing_costs_quote_units": 21.273084865962243,
      "price_pnl_quote_units": 19607.689891476868,
      "turnover_quote_units": 97887.15272189451,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 38167.104370347406,
      "return_pct": 281.671043703474,
      "cagr_pct": 280.85677873281594,
      "max_drawdown_pct": 59.051695067128996,
      "mean_exposure_while_solvent": 1.1068923924600476,
      "realized_annual_volatility_pct": 69.50785281070094,
      "trading_costs_quote_units": 374.7656900859914,
      "borrowing_costs_quote_units": 127.97187160942515,
      "price_pnl_quote_units": 28669.841932042822,
      "turnover_quote_units": 124921.89669533058,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 43996.40088026249,
      "return_pct": 339.9640088026249,
      "cagr_pct": 338.9258922447627,
      "max_drawdown_pct": 70.26811206911401,
      "mean_exposure_while_solvent": 1.3220516720076159,
      "realized_annual_volatility_pct": 89.68997351744729,
      "trading_costs_quote_units": 345.0066086013813,
      "borrowing_costs_quote_units": 257.3452591926345,
      "price_pnl_quote_units": 34598.75274805648,
      "turnover_quote_units": 115002.20286712702,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 38034.89736354258,
      "return_pct": 280.3489736354258,
      "cagr_pct": 279.5396291418927,
      "max_drawdown_pct": 57.80956353044899,
      "mean_exposure_while_solvent": 1.1294385627662875,
      "realized_annual_volatility_pct": 68.84238863906799,
      "trading_costs_quote_units": 623.5477904395823,
      "borrowing_costs_quote_units": 138.48670827139486,
      "price_pnl_quote_units": 28796.931862253572,
      "turnover_quote_units": 207849.26347986097,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 36350.88891562472,
      "return_pct": 263.50888915624716,
      "cagr_pct": 262.7615724217022,
      "max_drawdown_pct": 61.05758516126571,
      "mean_exposure_while_solvent": 1.0856534161657954,
      "realized_annual_volatility_pct": 71.84718141390773,
      "trading_costs_quote_units": 243.03450117730767,
      "borrowing_costs_quote_units": 124.33310192471878,
      "price_pnl_quote_units": 26718.256518726703,
      "turnover_quote_units": 81011.50039243595,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 32432.916590424084,
      "return_pct": 224.32916590424082,
      "cagr_pct": 223.72125925850676,
      "max_drawdown_pct": 53.33937913927961,
      "mean_exposure_while_solvent": 0.9141706596925023,
      "realized_annual_volatility_pct": 59.962178774329345,
      "trading_costs_quote_units": 131.03791367974765,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 22563.954504103847,
      "turnover_quote_units": 43679.30455991589,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 127,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 29681.808314541344,
      "return_pct": 196.81808314541342,
      "cagr_pct": 196.30361810674805,
      "max_drawdown_pct": 45.134892014064,
      "mean_exposure_while_solvent": 0.7498588346251662,
      "realized_annual_volatility_pct": 50.446063739034926,
      "trading_costs_quote_units": 91.01458909394009,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19772.822903635308,
      "turnover_quote_units": 30338.196364646697,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 40222.282063550774,
      "return_pct": 302.22282063550773,
      "cagr_pct": 301.33114588368306,
      "max_drawdown_pct": 56.072000169077626,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 68.30295669738756,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30252.192332743183,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 51284.06523482759,
      "return_pct": 412.84065234827597,
      "cagr_pct": 411.5055537497655,
      "max_drawdown_pct": 65.44874270061496,
      "mean_exposure_while_solvent": 1.2492210849083882,
      "realized_annual_volatility_pct": 87.08902422450142,
      "trading_costs_quote_units": 170.86536101573972,
      "borrowing_costs_quote_units": 202.92802947496173,
      "price_pnl_quote_units": 41657.85862531829,
      "turnover_quote_units": 56955.120338579916,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 62730.24698967868,
      "return_pct": 527.3024698967868,
      "cagr_pct": 525.46843022965,
      "max_drawdown_pct": 73.32162513157867,
      "mean_exposure_while_solvent": 1.4989627565356762,
      "realized_annual_volatility_pct": 107.32185002819872,
      "trading_costs_quote_units": 378.591408718154,
      "borrowing_costs_quote_units": 419.1267359021663,
      "price_pnl_quote_units": 53527.965134299055,
      "turnover_quote_units": 126197.13623938455,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 29241.899509670704,
      "return_pct": 192.41899509670705,
      "cagr_pct": 191.91910512043987,
      "max_drawdown_pct": 42.922688571021936,
      "mean_exposure_while_solvent": 0.7731315647174286,
      "realized_annual_volatility_pct": 46.71009925632125,
      "trading_costs_quote_units": 293.4202536275415,
      "borrowing_costs_quote_units": 42.50945336847305,
      "price_pnl_quote_units": 19577.829216666683,
      "turnover_quote_units": 97806.75120918044,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 37801.59868360344,
      "return_pct": 278.0159868360344,
      "cagr_pct": 277.2153074233726,
      "max_drawdown_pct": 59.093615861047866,
      "mean_exposure_while_solvent": 1.1069074161429475,
      "realized_annual_volatility_pct": 69.50877118513624,
      "trading_costs_quote_units": 373.13664077275905,
      "borrowing_costs_quote_units": 254.65392946651585,
      "price_pnl_quote_units": 28429.389253842706,
      "turnover_quote_units": 124378.8802575861,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 43205.40546200562,
      "return_pct": 332.05405462005626,
      "cagr_pct": 331.04707129263267,
      "max_drawdown_pct": 70.32893578387969,
      "mean_exposure_while_solvent": 1.3220819312935082,
      "realized_annual_volatility_pct": 89.69411011842594,
      "trading_costs_quote_units": 341.8802206560093,
      "borrowing_costs_quote_units": 509.5300333493196,
      "price_pnl_quote_units": 34056.815716010955,
      "turnover_quote_units": 113960.07355200309,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 37649.11727239624,
      "return_pct": 276.4911727239624,
      "cagr_pct": 275.69614435962546,
      "max_drawdown_pct": 57.84725609733441,
      "mean_exposure_while_solvent": 1.1294551569348155,
      "realized_annual_volatility_pct": 68.84323052186957,
      "trading_costs_quote_units": 620.2389813190473,
      "borrowing_costs_quote_units": 275.5098762678144,
      "price_pnl_quote_units": 28544.866129983067,
      "turnover_quote_units": 206746.32710634882,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36015.8110762142,
      "return_pct": 260.15811076214203,
      "cagr_pct": 259.4229900289216,
      "max_drawdown_pct": 61.09032773144355,
      "mean_exposure_while_solvent": 1.0856677894812423,
      "realized_annual_volatility_pct": 71.8484461156466,
      "trading_costs_quote_units": 242.02544385729968,
      "borrowing_costs_quote_units": 247.44011457594544,
      "price_pnl_quote_units": 26505.276634647424,
      "turnover_quote_units": 80675.14795243322,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 32432.916590424084,
      "return_pct": 224.32916590424082,
      "cagr_pct": 223.72125925850676,
      "max_drawdown_pct": 53.33937913927961,
      "mean_exposure_while_solvent": 0.9141706596925023,
      "realized_annual_volatility_pct": 59.962178774329345,
      "trading_costs_quote_units": 131.03791367974765,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 22563.954504103847,
      "turnover_quote_units": 43679.30455991589,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 127,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 29681.808314541344,
      "return_pct": 196.81808314541342,
      "cagr_pct": 196.30361810674805,
      "max_drawdown_pct": 45.134892014064,
      "mean_exposure_while_solvent": 0.7498588346251662,
      "realized_annual_volatility_pct": 50.446063739034926,
      "trading_costs_quote_units": 91.01458909394009,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19772.822903635308,
      "turnover_quote_units": 30338.196364646697,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 40222.282063550774,
      "return_pct": 302.22282063550773,
      "cagr_pct": 301.33114588368306,
      "max_drawdown_pct": 56.072000169077626,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 68.30295669738756,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30252.192332743183,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 50648.671860799404,
      "return_pct": 406.486718607994,
      "cagr_pct": 405.1782038805258,
      "max_drawdown_pct": 65.48830722739709,
      "mean_exposure_while_solvent": 1.2492388650849007,
      "realized_annual_volatility_pct": 87.09110490492353,
      "trading_costs_quote_units": 169.70591375867528,
      "borrowing_costs_quote_units": 402.8564166185617,
      "price_pnl_quote_units": 41221.23419117665,
      "turnover_quote_units": 56568.63791955844,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 61185.5112033294,
      "return_pct": 511.855112033294,
      "cagr_pct": 510.09049058373995,
      "max_drawdown_pct": 73.38331859641758,
      "mean_exposure_while_solvent": 1.4990054575254201,
      "realized_annual_volatility_pct": 107.32744922885162,
      "trading_costs_quote_units": 373.0890698899144,
      "borrowing_costs_quote_units": 825.6180789443698,
      "price_pnl_quote_units": 52384.218352163705,
      "turnover_quote_units": 124363.02329663816,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29140.428704227437,
      "return_pct": 191.4042870422744,
      "cagr_pct": 190.90774412673963,
      "max_drawdown_pct": 42.922688571021936,
      "mean_exposure_while_solvent": 0.7731368125062078,
      "realized_annual_volatility_pct": 46.70920934553613,
      "trading_costs_quote_units": 292.9387528194379,
      "borrowing_costs_quote_units": 84.87226067042153,
      "price_pnl_quote_units": 19518.2397177173,
      "turnover_quote_units": 97646.25093981251,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 37080.842023813544,
      "return_pct": 270.80842023813545,
      "cagr_pct": 270.0343657441147,
      "max_drawdown_pct": 59.177347789855936,
      "mean_exposure_while_solvent": 1.1069374691219052,
      "realized_annual_volatility_pct": 69.5106239629864,
      "trading_costs_quote_units": 369.9283673908808,
      "borrowing_costs_quote_units": 504.19874684542236,
      "price_pnl_quote_units": 27954.969138049837,
      "turnover_quote_units": 123309.45579696036,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 41665.327996561195,
      "return_pct": 316.65327996561194,
      "cagr_pct": 315.70624961216186,
      "max_drawdown_pct": 70.45024363325159,
      "mean_exposure_while_solvent": 1.3221424625104474,
      "realized_annual_volatility_pct": 89.70239987382365,
      "trading_costs_quote_units": 335.7881265198748,
      "borrowing_costs_quote_units": 998.8186800993172,
      "price_pnl_quote_units": 32999.9348031804,
      "turnover_quote_units": 111929.37550662489,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 36889.061555209526,
      "return_pct": 268.89061555209526,
      "cagr_pct": 268.12360816047556,
      "max_drawdown_pct": 57.9225580324914,
      "mean_exposure_while_solvent": 1.1294883519466412,
      "realized_annual_volatility_pct": 68.84493706059848,
      "trading_costs_quote_units": 613.699237594065,
      "borrowing_costs_quote_units": 545.2256373579655,
      "price_pnl_quote_units": 28047.98643016153,
      "turnover_quote_units": 204566.41253135508,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 35354.72074363145,
      "return_pct": 253.5472074363145,
      "cagr_pct": 252.83600305206414,
      "max_drawdown_pct": 61.155744290188416,
      "mean_exposure_while_solvent": 1.0856965414141142,
      "realized_annual_volatility_pct": 71.85099129622286,
      "trading_costs_quote_units": 240.0309666631511,
      "borrowing_costs_quote_units": 490.02250505851947,
      "price_pnl_quote_units": 26084.774215353078,
      "turnover_quote_units": 80010.32222105033,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 32432.916590424084,
      "return_pct": 224.32916590424082,
      "cagr_pct": 223.72125925850676,
      "max_drawdown_pct": 53.33937913927961,
      "mean_exposure_while_solvent": 0.9141706596925023,
      "realized_annual_volatility_pct": 59.962178774329345,
      "trading_costs_quote_units": 131.03791367974765,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 22563.954504103847,
      "turnover_quote_units": 43679.30455991589,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 127,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29681.808314541344,
      "return_pct": 196.81808314541342,
      "cagr_pct": 196.30361810674805,
      "max_drawdown_pct": 45.134892014064,
      "mean_exposure_while_solvent": 0.7498588346251662,
      "realized_annual_volatility_pct": 50.446063739034926,
      "trading_costs_quote_units": 91.01458909394009,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19772.822903635308,
      "turnover_quote_units": 30338.196364646697,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 40222.282063550774,
      "return_pct": 302.22282063550773,
      "cagr_pct": 301.33114588368306,
      "max_drawdown_pct": 56.072000169077626,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 68.30295669738756,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30252.192332743183,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 49401.08164429113,
      "return_pct": 394.01081644291133,
      "cagr_pct": 392.7541291908156,
      "max_drawdown_pct": 65.56731799535369,
      "mean_exposure_while_solvent": 1.2492744309115036,
      "realized_annual_volatility_pct": 87.09526728574679,
      "trading_costs_quote_units": 167.44249451276607,
      "borrowing_costs_quote_units": 793.878147964021,
      "price_pnl_quote_units": 40362.40228676794,
      "turnover_quote_units": 55814.16483758865,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 58208.28711597829,
      "return_pct": 482.08287115978294,
      "cagr_pct": 480.45028131368485,
      "max_drawdown_pct": 73.50631196410681,
      "mean_exposure_while_solvent": 1.4990908780465158,
      "realized_annual_volatility_pct": 107.33865192175745,
      "trading_costs_quote_units": 362.4662695955642,
      "borrowing_costs_quote_units": 1602.099946894242,
      "price_pnl_quote_units": 50172.85333246801,
      "turnover_quote_units": 120822.08986518798,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 29671.583623000944,
      "return_pct": 196.71583623000944,
      "cagr_pct": 196.20171113807348,
      "max_drawdown_pct": 43.492364077558435,
      "mean_exposure_while_solvent": 0.7726483774256109,
      "realized_annual_volatility_pct": 47.191877236688256,
      "trading_costs_quote_units": 304.51567405239,
      "borrowing_costs_quote_units": 21.31621202256035,
      "price_pnl_quote_units": 19997.415509075894,
      "turnover_quote_units": 101505.22468413007,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 39346.985099509344,
      "return_pct": 293.46985099509345,
      "cagr_pct": 292.6113539824634,
      "max_drawdown_pct": 58.944702535828405,
      "mean_exposure_while_solvent": 1.1055723394843178,
      "realized_annual_volatility_pct": 69.31462135871345,
      "trading_costs_quote_units": 369.1593743871297,
      "borrowing_costs_quote_units": 129.75582779457267,
      "price_pnl_quote_units": 29845.900301691025,
      "turnover_quote_units": 123053.12479570995,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 45867.50024026368,
      "return_pct": 358.6750024026368,
      "cagr_pct": 357.56234831017906,
      "max_drawdown_pct": 68.96270400679431,
      "mean_exposure_while_solvent": 1.3199778882220854,
      "realized_annual_volatility_pct": 87.2941430171986,
      "trading_costs_quote_units": 347.9850170901329,
      "borrowing_costs_quote_units": 264.5754195882249,
      "price_pnl_quote_units": 36480.06067694204,
      "turnover_quote_units": 115995.00569671082,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 38438.11855755626,
      "return_pct": 284.38118557556265,
      "cagr_pct": 283.556811291002,
      "max_drawdown_pct": 58.066964795447994,
      "mean_exposure_while_solvent": 1.1283487954509297,
      "realized_annual_volatility_pct": 68.76266768475354,
      "trading_costs_quote_units": 629.9529486676983,
      "borrowing_costs_quote_units": 138.80062976207677,
      "price_pnl_quote_units": 29206.872135986046,
      "turnover_quote_units": 209984.31622256618,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 37078.15273310076,
      "return_pct": 270.7815273310076,
      "cagr_pct": 270.00757176590923,
      "max_drawdown_pct": 60.511369412335256,
      "mean_exposure_while_solvent": 1.0843463178824702,
      "realized_annual_volatility_pct": 71.27752219314941,
      "trading_costs_quote_units": 240.4951524457161,
      "borrowing_costs_quote_units": 125.87001603447318,
      "price_pnl_quote_units": 27444.517901580963,
      "turnover_quote_units": 80165.05081523872,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 32658.469177961757,
      "return_pct": 226.58469177961757,
      "cagr_pct": 225.9689552840028,
      "max_drawdown_pct": 53.3393791392796,
      "mean_exposure_while_solvent": 0.9133946148871551,
      "realized_annual_volatility_pct": 60.049317820832705,
      "trading_costs_quote_units": 133.81858798772956,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 22792.287765949477,
      "turnover_quote_units": 44606.19599590987,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 127,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 29500.382158159984,
      "return_pct": 195.00382158159985,
      "cagr_pct": 194.49538019888246,
      "max_drawdown_pct": 45.344481498147495,
      "mean_exposure_while_solvent": 0.7494634408986918,
      "realized_annual_volatility_pct": 50.89353837242917,
      "trading_costs_quote_units": 88.17655778827287,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19588.558715948246,
      "turnover_quote_units": 29392.185929424286,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 40063.94220698724,
      "return_pct": 300.63942206987235,
      "cagr_pct": 299.7537717301331,
      "max_drawdown_pct": 56.072000169077626,
      "mean_exposure_while_solvent": 0.9986338797814207,
      "realized_annual_volatility_pct": 68.3008633713268,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30093.852476179643,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 51428.01184934331,
      "return_pct": 414.2801184934331,
      "cagr_pct": 412.9389799694225,
      "max_drawdown_pct": 65.17740437598395,
      "mean_exposure_while_solvent": 1.2475766575420937,
      "realized_annual_volatility_pct": 86.05092935153708,
      "trading_costs_quote_units": 165.77821159561785,
      "borrowing_costs_quote_units": 202.81682583716835,
      "price_pnl_quote_units": 41796.60688677609,
      "turnover_quote_units": 55259.403865205924,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 63727.13627512331,
      "return_pct": 537.2713627512331,
      "cagr_pct": 535.3922027768764,
      "max_drawdown_pct": 72.73613956099814,
      "mean_exposure_while_solvent": 1.4963298005861025,
      "realized_annual_volatility_pct": 104.22002381338909,
      "trading_costs_quote_units": 368.96452924172473,
      "borrowing_costs_quote_units": 423.5174481580493,
      "price_pnl_quote_units": 54519.61825252307,
      "turnover_quote_units": 122988.17641390825,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 29620.08970870918,
      "return_pct": 196.2008970870918,
      "cagr_pct": 195.6884831940939,
      "max_drawdown_pct": 43.492364077558435,
      "mean_exposure_while_solvent": 0.7726509921643313,
      "realized_annual_volatility_pct": 47.191397455534656,
      "trading_costs_quote_units": 304.26635150505706,
      "borrowing_costs_quote_units": 42.595564977996894,
      "price_pnl_quote_units": 19966.951625192214,
      "turnover_quote_units": 101422.11716835236,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 38970.27758099934,
      "return_pct": 289.7027758099934,
      "cagr_pct": 288.8584629187705,
      "max_drawdown_pct": 58.98707708683575,
      "mean_exposure_while_solvent": 1.105587304586255,
      "realized_annual_volatility_pct": 69.3153802055002,
      "trading_costs_quote_units": 367.5788494919462,
      "borrowing_costs_quote_units": 258.1950975544065,
      "price_pnl_quote_units": 29596.051528045646,
      "turnover_quote_units": 122526.28316398217,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 45043.549077406686,
      "return_pct": 350.43549077406686,
      "cagr_pct": 349.3558121540501,
      "max_drawdown_pct": 69.02580144920543,
      "mean_exposure_while_solvent": 1.320007982153871,
      "realized_annual_volatility_pct": 87.29746473831975,
      "trading_costs_quote_units": 344.820382339792,
      "borrowing_costs_quote_units": 523.7968217855679,
      "price_pnl_quote_units": 35912.16628153203,
      "turnover_quote_units": 114940.1274465974,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 38048.17308663815,
      "return_pct": 280.4817308663815,
      "cagr_pct": 279.6718926066219,
      "max_drawdown_pct": 58.10535485426114,
      "mean_exposure_while_solvent": 1.1283653472819801,
      "realized_annual_volatility_pct": 68.76345983873095,
      "trading_costs_quote_units": 626.621574263538,
      "borrowing_costs_quote_units": 276.13012185861595,
      "price_pnl_quote_units": 28950.9247827603,
      "turnover_quote_units": 208873.85808784614,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 36736.37988679966,
      "return_pct": 267.3637988679966,
      "cagr_pct": 266.6023905460363,
      "max_drawdown_pct": 60.54445826293665,
      "mean_exposure_while_solvent": 1.0843606375606705,
      "realized_annual_volatility_pct": 71.27859795120922,
      "trading_costs_quote_units": 239.53411056768869,
      "borrowing_costs_quote_units": 250.49240389413143,
      "price_pnl_quote_units": 27226.40640126146,
      "turnover_quote_units": 79844.70352256286,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 32658.469177961757,
      "return_pct": 226.58469177961757,
      "cagr_pct": 225.9689552840028,
      "max_drawdown_pct": 53.3393791392796,
      "mean_exposure_while_solvent": 0.9133946148871551,
      "realized_annual_volatility_pct": 60.049317820832705,
      "trading_costs_quote_units": 133.81858798772956,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 22792.287765949477,
      "turnover_quote_units": 44606.19599590987,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 127,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 29500.382158159984,
      "return_pct": 195.00382158159985,
      "cagr_pct": 194.49538019888246,
      "max_drawdown_pct": 45.344481498147495,
      "mean_exposure_while_solvent": 0.7494634408986918,
      "realized_annual_volatility_pct": 50.89353837242917,
      "trading_costs_quote_units": 88.17655778827287,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19588.558715948246,
      "turnover_quote_units": 29392.185929424286,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 40063.94220698724,
      "return_pct": 300.63942206987235,
      "cagr_pct": 299.7537717301331,
      "max_drawdown_pct": 56.072000169077626,
      "mean_exposure_while_solvent": 0.9986338797814207,
      "realized_annual_volatility_pct": 68.3008633713268,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30093.852476179643,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 50791.334733991105,
      "return_pct": 407.91334733991107,
      "cagr_pct": 406.5988747823814,
      "max_drawdown_pct": 65.21737482538772,
      "mean_exposure_while_solvent": 1.2475943616002583,
      "realized_annual_volatility_pct": 86.05277039286399,
      "trading_costs_quote_units": 164.6821739174455,
      "borrowing_costs_quote_units": 402.63415301373834,
      "price_pnl_quote_units": 41358.65106092233,
      "turnover_quote_units": 54894.057972481845,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 62159.22720037436,
      "return_pct": 521.5922720037436,
      "cagr_pct": 519.7839642995039,
      "max_drawdown_pct": 72.79929606430342,
      "mean_exposure_while_solvent": 1.4963722570315714,
      "realized_annual_volatility_pct": 104.22459768874954,
      "trading_costs_quote_units": 363.6223122958726,
      "borrowing_costs_quote_units": 834.2312042762,
      "price_pnl_quote_units": 53357.08071694644,
      "turnover_quote_units": 121207.43743195756,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29517.34567543688,
      "return_pct": 195.1734567543688,
      "cagr_pct": 194.66445290391795,
      "max_drawdown_pct": 43.492364077558435,
      "mean_exposure_while_solvent": 0.7726562225579506,
      "realized_annual_volatility_pct": 47.190444747120544,
      "trading_costs_quote_units": 303.768659454967,
      "borrowing_costs_quote_units": 85.04391402012078,
      "price_pnl_quote_units": 19906.158248912012,
      "turnover_quote_units": 101256.21981832253,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 38227.46657201594,
      "return_pct": 282.2746657201594,
      "cagr_pct": 281.4581517699869,
      "max_drawdown_pct": 59.07171445117495,
      "mean_exposure_while_solvent": 1.1056172403748965,
      "realized_annual_volatility_pct": 69.31691525746052,
      "trading_costs_quote_units": 364.4506355943746,
      "borrowing_costs_quote_units": 511.17538246595404,
      "price_pnl_quote_units": 29103.0925900763,
      "turnover_quote_units": 121483.54519812502,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 43439.33743465287,
      "return_pct": 334.39337434652873,
      "cagr_pct": 333.37720732470456,
      "max_drawdown_pct": 69.15164649102996,
      "mean_exposure_while_solvent": 1.3200681825542004,
      "realized_annual_volatility_pct": 87.30412501811564,
      "trading_costs_quote_units": 338.6298497945655,
      "borrowing_costs_quote_units": 1026.5942754393075,
      "price_pnl_quote_units": 34804.56155988674,
      "turnover_quote_units": 112876.61659818844,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 37279.89042585218,
      "return_pct": 272.7989042585218,
      "cagr_pct": 272.01751893326167,
      "max_drawdown_pct": 58.18204817223298,
      "mean_exposure_while_solvent": 1.1283984575977608,
      "realized_annual_volatility_pct": 68.76506671758067,
      "trading_costs_quote_units": 620.0459840899941,
      "borrowing_costs_quote_units": 546.4359878271501,
      "price_pnl_quote_units": 28446.372397769344,
      "turnover_quote_units": 206681.99469666477,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 36062.0689189698,
      "return_pct": 260.620689189698,
      "cagr_pct": 259.8838877222413,
      "max_drawdown_pct": 60.61056699903551,
      "mean_exposure_while_solvent": 1.08438928219334,
      "realized_annual_volatility_pct": 71.28076596055935,
      "trading_costs_quote_units": 237.6391213436172,
      "borrowing_costs_quote_units": 496.041712818525,
      "price_pnl_quote_units": 26795.749753131924,
      "turnover_quote_units": 79213.04044787236,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 32658.469177961757,
      "return_pct": 226.58469177961757,
      "cagr_pct": 225.9689552840028,
      "max_drawdown_pct": 53.3393791392796,
      "mean_exposure_while_solvent": 0.9133946148871551,
      "realized_annual_volatility_pct": 60.049317820832705,
      "trading_costs_quote_units": 133.81858798772956,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 22792.287765949477,
      "turnover_quote_units": 44606.19599590987,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 127,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29500.382158159984,
      "return_pct": 195.00382158159985,
      "cagr_pct": 194.49538019888246,
      "max_drawdown_pct": 45.344481498147495,
      "mean_exposure_while_solvent": 0.7494634408986918,
      "realized_annual_volatility_pct": 50.89353837242917,
      "trading_costs_quote_units": 88.17655778827287,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19588.558715948246,
      "turnover_quote_units": 29392.185929424286,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 40063.94220698724,
      "return_pct": 300.63942206987235,
      "cagr_pct": 299.7537717301331,
      "max_drawdown_pct": 56.072000169077626,
      "mean_exposure_while_solvent": 0.9986338797814207,
      "realized_annual_volatility_pct": 68.3008633713268,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30093.852476179643,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 49541.19917992955,
      "return_pct": 395.4119917992955,
      "cagr_pct": 394.14950848412656,
      "max_drawdown_pct": 65.29719619480963,
      "mean_exposure_while_solvent": 1.2476297751592065,
      "realized_annual_volatility_pct": 86.05645408083606,
      "trading_costs_quote_units": 162.54122149453733,
      "borrowing_costs_quote_units": 793.4337951410382,
      "price_pnl_quote_units": 40497.17419656511,
      "turnover_quote_units": 54180.40716484571,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 59137.22264755174,
      "return_pct": 491.37222647551744,
      "cagr_pct": 489.6986947325748,
      "max_drawdown_pct": 72.9252059270295,
      "mean_exposure_while_solvent": 1.4964571882922075,
      "realized_annual_volatility_pct": 104.23375035226574,
      "trading_costs_quote_units": 353.3051509409484,
      "borrowing_costs_quote_units": 1618.6701302169706,
      "price_pnl_quote_units": 51109.197928709575,
      "turnover_quote_units": 117768.38364698282,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 30208.472501545213,
      "return_pct": 202.08472501545214,
      "cagr_pct": 201.5526743801777,
      "max_drawdown_pct": 55.86649279855615,
      "mean_exposure_while_solvent": 0.829171261605128,
      "realized_annual_volatility_pct": 60.66727817084059,
      "trading_costs_quote_units": 58.671581978445026,
      "borrowing_costs_quote_units": 8.43390755672724,
      "price_pnl_quote_units": 20275.5779910804,
      "turnover_quote_units": 97785.96996407514,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 43714.64743468148,
      "return_pct": 337.1464743468148,
      "cagr_pct": 336.11947359077084,
      "max_drawdown_pct": 57.67083014239611,
      "mean_exposure_while_solvent": 1.0879616684327802,
      "realized_annual_volatility_pct": 71.11070017968967,
      "trading_costs_quote_units": 78.97097802069145,
      "borrowing_costs_quote_units": 112.59488302687242,
      "price_pnl_quote_units": 33906.21329572903,
      "turnover_quote_units": 131618.29670115234,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 55910.16706401019,
      "return_pct": 459.1016706401018,
      "cagr_pct": 457.56934865983266,
      "max_drawdown_pct": 57.90385887541182,
      "mean_exposure_while_solvent": 1.2451166258178048,
      "realized_annual_volatility_pct": 77.86541562148133,
      "trading_costs_quote_units": 85.34616716653692,
      "borrowing_costs_quote_units": 256.27567281475007,
      "price_pnl_quote_units": 46251.788903991444,
      "turnover_quote_units": 142243.61194422812,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 38670.98731003173,
      "return_pct": 286.7098731003173,
      "cagr_pct": 285.8767881396512,
      "max_drawdown_pct": 58.7190556952755,
      "mean_exposure_while_solvent": 1.1211503659203215,
      "realized_annual_volatility_pct": 69.82545293118557,
      "trading_costs_quote_units": 120.61597214022817,
      "borrowing_costs_quote_units": 126.01010946505562,
      "price_pnl_quote_units": 28917.613391637013,
      "turnover_quote_units": 201026.6202337138,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 316,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 47127.72408990359,
      "return_pct": 371.2772408990359,
      "cagr_pct": 370.11369789200035,
      "max_drawdown_pct": 56.97088048838113,
      "mean_exposure_while_solvent": 1.103909281369935,
      "realized_annual_volatility_pct": 72.598376618396,
      "trading_costs_quote_units": 46.38332178905947,
      "borrowing_costs_quote_units": 100.50302403542477,
      "price_pnl_quote_units": 37274.610435728064,
      "turnover_quote_units": 77305.53631509906,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 167,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 36649.55859666278,
      "return_pct": 266.49558596662774,
      "cagr_pct": 265.737357020236,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9417419673972003,
      "realized_annual_volatility_pct": 64.73999231851597,
      "trading_costs_quote_units": 24.30327504545673,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 26673.861871708235,
      "turnover_quote_units": 40505.45840909455,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 78,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 29811.506972787225,
      "return_pct": 198.11506972787228,
      "cagr_pct": 197.59628766473415,
      "max_drawdown_pct": 44.86559009736803,
      "mean_exposure_while_solvent": 0.7498542188570325,
      "realized_annual_volatility_pct": 50.19563839020582,
      "trading_costs_quote_units": 18.15694715147582,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19829.663919938717,
      "turnover_quote_units": 30261.578585793002,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 40092.88184085206,
      "return_pct": 300.9288184085206,
      "cagr_pct": 300.04206773359607,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9995435874030123,
      "realized_annual_volatility_pct": 67.99481771232678,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30098.878243010782,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 51103.95707692949,
      "return_pct": 411.0395707692949,
      "cagr_pct": 409.71202037839276,
      "max_drawdown_pct": 65.60146589191459,
      "mean_exposure_while_solvent": 1.249227552603692,
      "realized_annual_volatility_pct": 86.7625706924058,
      "trading_costs_quote_units": 33.94543324638264,
      "borrowing_costs_quote_units": 202.37768535658486,
      "price_pnl_quote_units": 41340.28019553244,
      "turnover_quote_units": 56575.72207730445,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 62368.00414935835,
      "return_pct": 523.6800414935834,
      "cagr_pct": 521.8623352541193,
      "max_drawdown_pct": 73.71282626931742,
      "mean_exposure_while_solvent": 1.4989835494112644,
      "realized_annual_volatility_pct": 107.04467116609884,
      "trading_costs_quote_units": 74.91506062125396,
      "borrowing_costs_quote_units": 416.5369896835098,
      "price_pnl_quote_units": 52859.45619966308,
      "turnover_quote_units": 124858.43436875666,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 30189.929950071542,
      "return_pct": 201.89929950071544,
      "cagr_pct": 201.36787050443377,
      "max_drawdown_pct": 55.86649279855615,
      "mean_exposure_while_solvent": 0.82917207600724,
      "realized_annual_volatility_pct": 60.66722069094729,
      "trading_costs_quote_units": 58.6615441048039,
      "borrowing_costs_quote_units": 16.863582820074583,
      "price_pnl_quote_units": 20265.45507699642,
      "turnover_quote_units": 97769.24017467322,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 43396.35097529639,
      "return_pct": 333.9635097529639,
      "cagr_pct": 332.9490317960335,
      "max_drawdown_pct": 57.686557027983035,
      "mean_exposure_while_solvent": 1.0879730542602613,
      "realized_annual_volatility_pct": 71.11127998507185,
      "trading_costs_quote_units": 78.72855034871598,
      "borrowing_costs_quote_units": 224.3200611378043,
      "price_pnl_quote_units": 33699.39958678293,
      "turnover_quote_units": 131214.25058119348,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 55140.332730014205,
      "return_pct": 451.403327300142,
      "cagr_pct": 449.9042611464961,
      "max_drawdown_pct": 57.92441683364108,
      "mean_exposure_while_solvent": 1.2451401596019522,
      "realized_annual_volatility_pct": 77.86658186623102,
      "trading_costs_quote_units": 84.73956766093794,
      "borrowing_costs_quote_units": 508.47246005174117,
      "price_pnl_quote_units": 45733.54475772689,
      "turnover_quote_units": 141232.61276822985,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 38313.073786388755,
      "return_pct": 283.1307378638876,
      "cagr_pct": 282.3110317577205,
      "max_drawdown_pct": 58.74941645442816,
      "mean_exposure_while_solvent": 1.1211658192942413,
      "realized_annual_volatility_pct": 69.82635590675879,
      "trading_costs_quote_units": 120.07494597455778,
      "borrowing_costs_quote_units": 250.81379477545593,
      "price_pnl_quote_units": 28683.96252713875,
      "turnover_quote_units": 200124.9099575964,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 316,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 46863.23235109772,
      "return_pct": 368.63232351097724,
      "cagr_pct": 367.47950576474915,
      "max_drawdown_pct": 56.98195095602783,
      "mean_exposure_while_solvent": 1.1039178798300104,
      "realized_annual_volatility_pct": 72.598643297086,
      "trading_costs_quote_units": 46.27670742970037,
      "borrowing_costs_quote_units": 200.37432395444145,
      "price_pnl_quote_units": 37109.8833824818,
      "turnover_quote_units": 77127.84571616724,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 167,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36649.55859666278,
      "return_pct": 266.49558596662774,
      "cagr_pct": 265.737357020236,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9417419673972003,
      "realized_annual_volatility_pct": 64.73999231851597,
      "trading_costs_quote_units": 24.30327504545673,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 26673.861871708235,
      "turnover_quote_units": 40505.45840909455,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 78,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 29811.506972787225,
      "return_pct": 198.11506972787228,
      "cagr_pct": 197.59628766473415,
      "max_drawdown_pct": 44.86559009736803,
      "mean_exposure_while_solvent": 0.7498542188570325,
      "realized_annual_volatility_pct": 50.19563839020582,
      "trading_costs_quote_units": 18.15694715147582,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19829.663919938717,
      "turnover_quote_units": 30261.578585793002,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 40092.88184085206,
      "return_pct": 300.9288184085206,
      "cagr_pct": 300.04206773359607,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9995435874030123,
      "realized_annual_volatility_pct": 67.99481771232678,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30098.878243010782,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 50470.39876259583,
      "return_pct": 404.7039876259583,
      "cagr_pct": 403.4029088978885,
      "max_drawdown_pct": 65.64086743308724,
      "mean_exposure_while_solvent": 1.2492455458828327,
      "realized_annual_volatility_pct": 86.76465339837561,
      "trading_costs_quote_units": 33.71381244735691,
      "borrowing_costs_quote_units": 401.76225809853014,
      "price_pnl_quote_units": 40905.87483314173,
      "turnover_quote_units": 56189.6874122615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 60830.9725178925,
      "return_pct": 508.309725178925,
      "cagr_pct": 506.5609494015209,
      "max_drawdown_pct": 73.7736961917265,
      "mean_exposure_while_solvent": 1.499026766561653,
      "realized_annual_volatility_pct": 107.05031050806504,
      "trading_costs_quote_units": 73.82196225678797,
      "borrowing_costs_quote_units": 820.5086854776262,
      "price_pnl_quote_units": 51725.30316562695,
      "turnover_quote_units": 123036.60376131328,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 30152.871450734678,
      "return_pct": 201.52871450734676,
      "cagr_pct": 200.9985273547355,
      "max_drawdown_pct": 55.86649279855615,
      "mean_exposure_while_solvent": 0.829173705025039,
      "realized_annual_volatility_pct": 60.667106692847206,
      "trading_costs_quote_units": 58.64148060907596,
      "borrowing_costs_quote_units": 33.71024190262999,
      "price_pnl_quote_units": 20245.22317324637,
      "turnover_quote_units": 97735.80101512664,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 42766.53370044434,
      "return_pct": 327.6653370044435,
      "cagr_pct": 326.6755285317313,
      "max_drawdown_pct": 57.71800100011326,
      "mean_exposure_while_solvent": 1.0879958301597719,
      "realized_annual_volatility_pct": 71.11245449443196,
      "trading_costs_quote_units": 78.24956586321521,
      "borrowing_costs_quote_units": 445.1866942733327,
      "price_pnl_quote_units": 33289.96996058088,
      "turnover_quote_units": 130415.9431053588,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 53631.90715557633,
      "return_pct": 436.3190715557633,
      "cagr_pct": 434.8846703852336,
      "max_drawdown_pct": 57.96551375592978,
      "mean_exposure_while_solvent": 1.2451872373483504,
      "realized_annual_volatility_pct": 77.86893816229662,
      "trading_costs_quote_units": 83.5471597636598,
      "borrowing_costs_quote_units": 1000.870258863877,
      "price_pnl_quote_units": 44716.32457420381,
      "turnover_quote_units": 139245.2662727664,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 37606.96394163888,
      "return_pct": 276.0696394163888,
      "cagr_pct": 275.2761715493216,
      "max_drawdown_pct": 58.81008651988671,
      "mean_exposure_while_solvent": 1.1211967325808645,
      "realized_annual_volatility_pct": 69.82818465864965,
      "trading_costs_quote_units": 119.00541558739334,
      "borrowing_costs_quote_units": 496.84673539267027,
      "price_pnl_quote_units": 28222.816092618927,
      "turnover_quote_units": 198342.35931232222,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 316,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 46338.56715142335,
      "return_pct": 363.3856715142334,
      "cagr_pct": 362.2540588960501,
      "max_drawdown_pct": 57.00408824318479,
      "mean_exposure_while_solvent": 1.1039350798169942,
      "realized_annual_volatility_pct": 72.59918864966468,
      "trading_costs_quote_units": 46.06497207378588,
      "borrowing_costs_quote_units": 398.23636914582795,
      "price_pnl_quote_units": 36782.86849264296,
      "turnover_quote_units": 76774.95345630981,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 167,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 36649.55859666278,
      "return_pct": 266.49558596662774,
      "cagr_pct": 265.737357020236,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9417419673972003,
      "realized_annual_volatility_pct": 64.73999231851597,
      "trading_costs_quote_units": 24.30327504545673,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 26673.861871708235,
      "turnover_quote_units": 40505.45840909455,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 78,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29811.506972787225,
      "return_pct": 198.11506972787228,
      "cagr_pct": 197.59628766473415,
      "max_drawdown_pct": 44.86559009736803,
      "mean_exposure_while_solvent": 0.7498542188570325,
      "realized_annual_volatility_pct": 50.19563839020582,
      "trading_costs_quote_units": 18.15694715147582,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19829.663919938717,
      "turnover_quote_units": 30261.578585793002,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 40092.88184085206,
      "return_pct": 300.9288184085206,
      "cagr_pct": 300.04206773359607,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9995435874030123,
      "realized_annual_volatility_pct": 67.99481771232678,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30098.878243010782,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 49226.46726150529,
      "return_pct": 392.2646726150529,
      "cagr_pct": 391.0151995783549,
      "max_drawdown_pct": 65.7195526032037,
      "mean_exposure_while_solvent": 1.2492815381434568,
      "realized_annual_volatility_pct": 86.76881965839979,
      "trading_costs_quote_units": 33.259413954344474,
      "borrowing_costs_quote_units": 791.7159375471766,
      "price_pnl_quote_units": 40051.44261300681,
      "turnover_quote_units": 55432.35659057416,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 57868.80065979238,
      "return_pct": 478.6880065979238,
      "cagr_pct": 477.0703207508665,
      "max_drawdown_pct": 73.89504713410378,
      "mean_exposure_while_solvent": 1.499113220162566,
      "realized_annual_volatility_pct": 107.06159315985926,
      "trading_costs_quote_units": 71.70635793380539,
      "borrowing_costs_quote_units": 1592.1566320291822,
      "price_pnl_quote_units": 49532.66364975539,
      "turnover_quote_units": 119510.59655634224,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 29613.395498955928,
      "return_pct": 196.13395498955927,
      "cagr_pct": 195.62176344800827,
      "max_drawdown_pct": 55.70817460888604,
      "mean_exposure_while_solvent": 0.8282884548951405,
      "realized_annual_volatility_pct": 60.646944694552005,
      "trading_costs_quote_units": 58.683259508925175,
      "borrowing_costs_quote_units": 8.22710451452299,
      "price_pnl_quote_units": 19680.30586297937,
      "turnover_quote_units": 97805.43251487525,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 43587.200238501806,
      "return_pct": 335.87200238501805,
      "cagr_pct": 334.85002024232705,
      "max_drawdown_pct": 57.392869543264126,
      "mean_exposure_while_solvent": 1.086443567424681,
      "realized_annual_volatility_pct": 70.9829519021143,
      "trading_costs_quote_units": 73.4650986545089,
      "borrowing_costs_quote_units": 111.17028304971019,
      "price_pnl_quote_units": 33771.835620206,
      "turnover_quote_units": 122441.83109084822,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 55369.32514481337,
      "return_pct": 453.6932514481337,
      "cagr_pct": 452.1843108474866,
      "max_drawdown_pct": 57.85570719904571,
      "mean_exposure_while_solvent": 1.2434313803986101,
      "realized_annual_volatility_pct": 77.81787352860847,
      "trading_costs_quote_units": 81.31543096946511,
      "borrowing_costs_quote_units": 253.13545453382307,
      "price_pnl_quote_units": 45703.77603031665,
      "turnover_quote_units": 135525.71828244178,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 39659.334562289645,
      "return_pct": 296.59334562289644,
      "cagr_pct": 295.72304428479026,
      "max_drawdown_pct": 59.2271187186467,
      "mean_exposure_while_solvent": 1.1201225071232759,
      "realized_annual_volatility_pct": 69.69168819468214,
      "trading_costs_quote_units": 123.47540125653083,
      "borrowing_costs_quote_units": 128.16327483182744,
      "price_pnl_quote_units": 29910.973238377985,
      "turnover_quote_units": 205792.33542755138,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 317,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 46307.30032307379,
      "return_pct": 363.07300323073787,
      "cagr_pct": 361.9426513400771,
      "max_drawdown_pct": 56.929951193935814,
      "mean_exposure_while_solvent": 1.1027234075179244,
      "realized_annual_volatility_pct": 72.65452370349591,
      "trading_costs_quote_units": 45.27272783895651,
      "borrowing_costs_quote_units": 98.96176728948294,
      "price_pnl_quote_units": 36451.534818202264,
      "turnover_quote_units": 75454.54639826078,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 168,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 35775.40828788393,
      "return_pct": 257.7540828788393,
      "cagr_pct": 257.02768172253064,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9409193413490596,
      "realized_annual_volatility_pct": 64.7492904103334,
      "trading_costs_quote_units": 23.913635816556063,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 25799.321923700514,
      "turnover_quote_units": 39856.059694260126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 79,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 29531.36819491404,
      "return_pct": 195.31368194914043,
      "cagr_pct": 194.80421303010073,
      "max_drawdown_pct": 45.285079894881505,
      "mean_exposure_while_solvent": 0.7494595304168672,
      "realized_annual_volatility_pct": 50.6461926150144,
      "trading_costs_quote_units": 17.40783806253737,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19548.77603297658,
      "turnover_quote_units": 29013.06343756227,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 39957.87535061015,
      "return_pct": 299.5787535061015,
      "cagr_pct": 298.69713317202195,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.998630762209037,
      "realized_annual_volatility_pct": 67.99296293664013,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 29963.871752768835,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 51652.232750877214,
      "return_pct": 416.52232750877215,
      "cagr_pct": 415.17176805452357,
      "max_drawdown_pct": 65.05391602364902,
      "mean_exposure_while_solvent": 1.2475747958472454,
      "realized_annual_volatility_pct": 85.68680074995196,
      "trading_costs_quote_units": 32.83407169977043,
      "borrowing_costs_quote_units": 203.64855512326506,
      "price_pnl_quote_units": 41888.7153777003,
      "turnover_quote_units": 54723.45283295075,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 64653.0573941467,
      "return_pct": 546.530573941467,
      "cagr_pct": 544.6092839417029,
      "max_drawdown_pct": 72.55598552937911,
      "mean_exposure_while_solvent": 1.4963295658405533,
      "realized_annual_volatility_pct": 103.81221494951083,
      "trading_costs_quote_units": 73.42506542758798,
      "borrowing_costs_quote_units": 428.2801756577747,
      "price_pnl_quote_units": 55154.76263523217,
      "turnover_quote_units": 122375.10904598012,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 29595.223193921174,
      "return_pct": 195.95223193921174,
      "cagr_pct": 195.44064387837983,
      "max_drawdown_pct": 55.70817460888604,
      "mean_exposure_while_solvent": 0.8282892656392845,
      "realized_annual_volatility_pct": 60.64689552963184,
      "trading_costs_quote_units": 58.67290599573785,
      "borrowing_costs_quote_units": 16.45007154828767,
      "price_pnl_quote_units": 19670.346171465193,
      "turnover_quote_units": 97788.17665956318,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 43270.502626243004,
      "return_pct": 332.70502626243007,
      "cagr_pct": 331.69548936796855,
      "max_drawdown_pct": 57.40872743462454,
      "mean_exposure_while_solvent": 1.086454911228378,
      "realized_annual_volatility_pct": 70.98340472366344,
      "trading_costs_quote_units": 73.24635905805457,
      "borrowing_costs_quote_units": 221.48221493806065,
      "price_pnl_quote_units": 33565.231200239105,
      "turnover_quote_units": 122077.26509675766,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 54606.79000556271,
      "return_pct": 446.06790005562715,
      "cagr_pct": 444.5917822690369,
      "max_drawdown_pct": 57.877297513203764,
      "mean_exposure_while_solvent": 1.2434547006486698,
      "realized_annual_volatility_pct": 77.81894100439098,
      "trading_costs_quote_units": 80.7504664382246,
      "borrowing_costs_quote_units": 502.2413346380476,
      "price_pnl_quote_units": 45189.78180663895,
      "turnover_quote_units": 134584.11073037435,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 39291.777616670035,
      "return_pct": 292.9177761667003,
      "cagr_pct": 292.0613614706162,
      "max_drawdown_pct": 59.25848426676696,
      "mean_exposure_while_solvent": 1.1201378523944816,
      "realized_annual_volatility_pct": 69.69261582335122,
      "trading_costs_quote_units": 122.91681512934683,
      "borrowing_costs_quote_units": 255.09021739239452,
      "price_pnl_quote_units": 29669.784649191788,
      "turnover_quote_units": 204861.35854891132,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 317,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 46047.311943154775,
      "return_pct": 360.4731194315478,
      "cagr_pct": 359.3532376738033,
      "max_drawdown_pct": 56.941601977988434,
      "mean_exposure_while_solvent": 1.1027320920733577,
      "realized_annual_volatility_pct": 72.65474225018032,
      "trading_costs_quote_units": 45.17382197404621,
      "borrowing_costs_quote_units": 197.30113261406467,
      "price_pnl_quote_units": 36289.78689774289,
      "turnover_quote_units": 75289.70329007706,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 168,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 35775.40828788393,
      "return_pct": 257.7540828788393,
      "cagr_pct": 257.02768172253064,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9409193413490596,
      "realized_annual_volatility_pct": 64.7492904103334,
      "trading_costs_quote_units": 23.913635816556063,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 25799.321923700514,
      "turnover_quote_units": 39856.059694260126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 79,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 29531.36819491404,
      "return_pct": 195.31368194914043,
      "cagr_pct": 194.80421303010073,
      "max_drawdown_pct": 45.285079894881505,
      "mean_exposure_while_solvent": 0.7494595304168672,
      "realized_annual_volatility_pct": 50.6461926150144,
      "trading_costs_quote_units": 17.40783806253737,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19548.77603297658,
      "turnover_quote_units": 29013.06343756227,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 39957.87535061015,
      "return_pct": 299.5787535061015,
      "cagr_pct": 298.69713317202195,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.998630762209037,
      "realized_annual_volatility_pct": 67.99296293664013,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 29963.871752768835,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 51012.55993728992,
      "return_pct": 410.1255993728993,
      "cagr_pct": 408.80187551965514,
      "max_drawdown_pct": 65.09400395422051,
      "mean_exposure_while_solvent": 1.2475925846047715,
      "realized_annual_volatility_pct": 85.68863387702268,
      "trading_costs_quote_units": 32.61635088352375,
      "borrowing_costs_quote_units": 404.2814587290556,
      "price_pnl_quote_units": 41449.4577469025,
      "turnover_quote_units": 54360.58480587289,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 63061.79968738234,
      "return_pct": 530.6179968738235,
      "cagr_pct": 528.7689784804516,
      "max_drawdown_pct": 72.61950426512213,
      "mean_exposure_while_solvent": 1.4963722244605853,
      "realized_annual_volatility_pct": 103.81677088717257,
      "trading_costs_quote_units": 72.35206707173148,
      "borrowing_costs_quote_units": 843.5772581483715,
      "price_pnl_quote_units": 53977.729012602445,
      "turnover_quote_units": 120586.77845288576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29558.904645872448,
      "return_pct": 195.58904645872448,
      "cagr_pct": 195.07866396237202,
      "max_drawdown_pct": 55.70817460888604,
      "mean_exposure_while_solvent": 0.8282908873404123,
      "realized_annual_volatility_pct": 60.64679824102372,
      "trading_costs_quote_units": 58.65221165511389,
      "borrowing_costs_quote_units": 32.883598487726665,
      "price_pnl_quote_units": 19650.440456015265,
      "turnover_quote_units": 97753.68609185643,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 42643.83902753358,
      "return_pct": 326.4383902753358,
      "cagr_pct": 325.45337058594237,
      "max_drawdown_pct": 57.440435795557285,
      "mean_exposure_while_solvent": 1.0864776031092158,
      "realized_annual_volatility_pct": 70.98432576933934,
      "trading_costs_quote_units": 72.8125430091429,
      "borrowing_costs_quote_units": 439.556105052357,
      "price_pnl_quote_units": 33156.20767559505,
      "turnover_quote_units": 121354.23834857153,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 53112.67147875618,
      "return_pct": 431.1267147875618,
      "cagr_pct": 429.71441793221965,
      "max_drawdown_pct": 57.92046072017627,
      "mean_exposure_while_solvent": 1.2435013511486395,
      "realized_annual_volatility_pct": 77.82110116887657,
      "trading_costs_quote_units": 79.64054893587092,
      "borrowing_costs_quote_units": 988.6024729709778,
      "price_pnl_quote_units": 44180.91450066305,
      "turnover_quote_units": 132734.24822645154,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 38566.66175760191,
      "return_pct": 285.6666175760191,
      "cagr_pct": 284.83743777384484,
      "max_drawdown_pct": 59.32116274304548,
      "mean_exposure_while_solvent": 1.1201685493536622,
      "realized_annual_volatility_pct": 69.69449476243685,
      "trading_costs_quote_units": 121.81107498347534,
      "borrowing_costs_quote_units": 505.2812605681245,
      "price_pnl_quote_units": 29193.754093153515,
      "turnover_quote_units": 203018.45830579224,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 317,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 45531.57012783268,
      "return_pct": 355.31570127832686,
      "cagr_pct": 354.2165201187598,
      "max_drawdown_pct": 56.9649046469717,
      "mean_exposure_while_solvent": 1.1027494643736062,
      "realized_annual_volatility_pct": 72.65519190417805,
      "trading_costs_quote_units": 44.98105466501951,
      "borrowing_costs_quote_units": 392.1270166737935,
      "price_pnl_quote_units": 35968.678199171496,
      "turnover_quote_units": 74968.4244416992,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 168,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 35775.40828788393,
      "return_pct": 257.7540828788393,
      "cagr_pct": 257.02768172253064,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9409193413490596,
      "realized_annual_volatility_pct": 64.7492904103334,
      "trading_costs_quote_units": 23.913635816556063,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 25799.321923700514,
      "turnover_quote_units": 39856.059694260126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 79,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29531.36819491404,
      "return_pct": 195.31368194914043,
      "cagr_pct": 194.80421303010073,
      "max_drawdown_pct": 45.285079894881505,
      "mean_exposure_while_solvent": 0.7494595304168672,
      "realized_annual_volatility_pct": 50.6461926150144,
      "trading_costs_quote_units": 17.40783806253737,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19548.77603297658,
      "turnover_quote_units": 29013.06343756227,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 39957.87535061015,
      "return_pct": 299.5787535061015,
      "cagr_pct": 298.69713317202195,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.998630762209037,
      "realized_annual_volatility_pct": 67.99296293664013,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 29963.871752768835,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 49756.597218711686,
      "return_pct": 397.56597218711687,
      "cagr_pct": 396.29456651009167,
      "max_drawdown_pct": 65.17406118274945,
      "mean_exposure_while_solvent": 1.2476281676560292,
      "realized_annual_volatility_pct": 85.69230148378276,
      "trading_costs_quote_units": 32.18991693481838,
      "borrowing_costs_quote_units": 796.665262540577,
      "price_pnl_quote_units": 40585.452398187066,
      "turnover_quote_units": 53649.86155803061,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 59994.96952027924,
      "return_pct": 499.94969520279244,
      "cagr_pct": 498.23815334505895,
      "max_drawdown_pct": 72.74613888103603,
      "mean_exposure_while_solvent": 1.4964575603801424,
      "realized_annual_volatility_pct": 103.8258870647602,
      "trading_costs_quote_units": 70.27732167180639,
      "borrowing_costs_quote_units": 1636.6686720790651,
      "price_pnl_quote_units": 51701.91551403015,
      "turnover_quote_units": 117128.86945301075,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 29643.523342115146,
      "return_pct": 196.43523342115148,
      "cagr_pct": 195.92204097920884,
      "max_drawdown_pct": 55.88379582520051,
      "mean_exposure_while_solvent": 0.829171261605128,
      "realized_annual_volatility_pct": 60.66528060592452,
      "trading_costs_quote_units": 290.1888088923733,
      "borrowing_costs_quote_units": 8.310578069319025,
      "price_pnl_quote_units": 19942.022729076827,
      "turnover_quote_units": 96729.60296412442,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 42732.710771781996,
      "return_pct": 327.3271077178199,
      "cagr_pct": 326.3386199156988,
      "max_drawdown_pct": 57.746203153144606,
      "mean_exposure_while_solvent": 1.0879616684327802,
      "realized_annual_volatility_pct": 71.11069779595395,
      "trading_costs_quote_units": 389.75314232960534,
      "borrowing_costs_quote_units": 110.82410886607815,
      "price_pnl_quote_units": 33233.2880229777,
      "turnover_quote_units": 129917.71410986834,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 54743.76551372495,
      "return_pct": 447.4376551372496,
      "cagr_pct": 445.95565372029677,
      "max_drawdown_pct": 57.967693343813195,
      "mean_exposure_while_solvent": 1.2451166258178048,
      "realized_annual_volatility_pct": 77.86702532655652,
      "trading_costs_quote_units": 421.24466085251004,
      "borrowing_costs_quote_units": 252.48371119720258,
      "price_pnl_quote_units": 45417.49388577468,
      "turnover_quote_units": 140414.88695083672,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 37287.30024821954,
      "return_pct": 272.8730024821954,
      "cagr_pct": 272.0913439311758,
      "max_drawdown_pct": 58.865693149827955,
      "mean_exposure_while_solvent": 1.1211503659203215,
      "realized_annual_volatility_pct": 69.81594952118976,
      "trading_costs_quote_units": 590.734246751555,
      "borrowing_costs_quote_units": 123.2294938735263,
      "price_pnl_quote_units": 28001.263988844632,
      "turnover_quote_units": 196911.41558385198,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 316,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 46529.22057521147,
      "return_pct": 365.29220575211474,
      "cagr_pct": 364.15289844722787,
      "max_drawdown_pct": 57.00960628181746,
      "mean_exposure_while_solvent": 1.1039092813699347,
      "realized_annual_volatility_pct": 72.59852032172644,
      "trading_costs_quote_units": 230.1465972572982,
      "borrowing_costs_quote_units": 99.53394286964159,
      "price_pnl_quote_units": 36858.901115338456,
      "turnover_quote_units": 76715.53241909946,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 167,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 36346.58812893511,
      "return_pct": 263.4658812893511,
      "cagr_pct": 262.7187214046104,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9417419673972003,
      "realized_annual_volatility_pct": 64.73992013168227,
      "trading_costs_quote_units": 120.89865352870213,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 26467.486782463806,
      "turnover_quote_units": 40299.55117623403,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 78,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 29642.0357426598,
      "return_pct": 196.420357426598,
      "cagr_pct": 195.9072144167728,
      "max_drawdown_pct": 44.8953426534547,
      "mean_exposure_while_solvent": 0.7498542188570325,
      "realized_annual_volatility_pct": 50.194482730332766,
      "trading_costs_quote_units": 90.49511009231396,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19732.530852752116,
      "turnover_quote_units": 30165.036697437947,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 39996.94672976727,
      "return_pct": 299.9694672976727,
      "cagr_pct": 299.08636296788654,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9995435874030123,
      "realized_annual_volatility_pct": 67.99567335045327,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30026.856998959713,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 50618.17209765139,
      "return_pct": 406.18172097651393,
      "cagr_pct": 404.87447914072766,
      "max_drawdown_pct": 65.6358577412694,
      "mean_exposure_while_solvent": 1.249227552603692,
      "realized_annual_volatility_pct": 86.75910419248926,
      "trading_costs_quote_units": 168.59485192214655,
      "borrowing_costs_quote_units": 200.9525872500189,
      "price_pnl_quote_units": 40987.7195368236,
      "turnover_quote_units": 56198.28397404888,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 61165.46079985644,
      "return_pct": 511.65460799856436,
      "cagr_pct": 509.8908835489949,
      "max_drawdown_pct": 73.78029440225802,
      "mean_exposure_while_solvent": 1.4989835494112644,
      "realized_annual_volatility_pct": 107.03149212216063,
      "trading_costs_quote_units": 369.6554017512413,
      "borrowing_costs_quote_units": 410.8942051157401,
      "price_pnl_quote_units": 51946.01040672344,
      "turnover_quote_units": 123218.46725041371,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 29625.312143232033,
      "return_pct": 196.25312143232034,
      "cagr_pct": 195.74053405691294,
      "max_drawdown_pct": 55.88379582520051,
      "mean_exposure_while_solvent": 0.82917207600724,
      "realized_annual_volatility_pct": 60.665223979424574,
      "trading_costs_quote_units": 290.13949685889446,
      "borrowing_costs_quote_units": 16.61698437091318,
      "price_pnl_quote_units": 19932.068624461863,
      "turnover_quote_units": 96713.1656196315,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 42421.59963754076,
      "return_pct": 324.21599637540766,
      "cagr_pct": 323.23963642075546,
      "max_drawdown_pct": 57.761930256668315,
      "mean_exposure_while_solvent": 1.0879730542602613,
      "realized_annual_volatility_pct": 71.11128383991509,
      "trading_costs_quote_units": 388.56380127397676,
      "borrowing_costs_quote_units": 220.79460693192374,
      "price_pnl_quote_units": 33030.95804574668,
      "turnover_quote_units": 129521.2670913256,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 53990.45249066797,
      "return_pct": 439.90452490667974,
      "cagr_pct": 438.4548135157574,
      "max_drawdown_pct": 57.98825520063906,
      "mean_exposure_while_solvent": 1.2451401596019522,
      "realized_annual_volatility_pct": 77.86820893631071,
      "trading_costs_quote_units": 418.26708514948064,
      "borrowing_costs_quote_units": 500.9614802191193,
      "price_pnl_quote_units": 44909.68105603657,
      "turnover_quote_units": 139422.3617164935,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36942.15774496861,
      "return_pct": 269.4215774496861,
      "cagr_pct": 268.65262058495307,
      "max_drawdown_pct": 58.89602722195817,
      "mean_exposure_while_solvent": 1.1211658192942413,
      "realized_annual_volatility_pct": 69.81686056239741,
      "trading_costs_quote_units": 588.1059042946764,
      "borrowing_costs_quote_units": 245.2852676265434,
      "price_pnl_quote_units": 27775.548916889864,
      "turnover_quote_units": 196035.3014315588,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 316,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 46268.17402426226,
      "return_pct": 362.68174024262265,
      "cagr_pct": 361.5529655133456,
      "max_drawdown_pct": 57.02066431536599,
      "mean_exposure_while_solvent": 1.1039178798300104,
      "realized_annual_volatility_pct": 72.59879466138148,
      "trading_costs_quote_units": 229.62025946807987,
      "borrowing_costs_quote_units": 198.4434226762493,
      "price_pnl_quote_units": 36696.23770640657,
      "turnover_quote_units": 76540.08648935998,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 167,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36346.58812893511,
      "return_pct": 263.4658812893511,
      "cagr_pct": 262.7187214046104,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9417419673972003,
      "realized_annual_volatility_pct": 64.73992013168227,
      "trading_costs_quote_units": 120.89865352870213,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 26467.486782463806,
      "turnover_quote_units": 40299.55117623403,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 78,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 29642.0357426598,
      "return_pct": 196.420357426598,
      "cagr_pct": 195.9072144167728,
      "max_drawdown_pct": 44.8953426534547,
      "mean_exposure_while_solvent": 0.7498542188570325,
      "realized_annual_volatility_pct": 50.194482730332766,
      "trading_costs_quote_units": 90.49511009231396,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19732.530852752116,
      "turnover_quote_units": 30165.036697437947,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 39996.94672976727,
      "return_pct": 299.9694672976727,
      "cagr_pct": 299.08636296788654,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9995435874030123,
      "realized_annual_volatility_pct": 67.99567335045327,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30026.856998959713,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 49990.956124583,
      "return_pct": 399.90956124583,
      "cagr_pct": 398.6284309799896,
      "max_drawdown_pct": 65.67525600149212,
      "mean_exposure_while_solvent": 1.2492455458828327,
      "realized_annual_volatility_pct": 86.7612004614356,
      "trading_costs_quote_units": 167.44965834147644,
      "borrowing_costs_quote_units": 398.93713379809765,
      "price_pnl_quote_units": 40557.342916722584,
      "turnover_quote_units": 55816.55278049212,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 59658.90699365547,
      "return_pct": 496.5890699365548,
      "cagr_pct": 494.892443671939,
      "max_drawdown_pct": 73.84108128825817,
      "mean_exposure_while_solvent": 1.499026766561653,
      "realized_annual_volatility_pct": 107.03716094971278,
      "trading_costs_quote_units": 364.2923810647585,
      "borrowing_costs_quote_units": 809.4270971607493,
      "price_pnl_quote_units": 50832.62647188106,
      "turnover_quote_units": 121430.79368825293,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29588.91590057426,
      "return_pct": 195.88915900574258,
      "cagr_pct": 195.37778036119943,
      "max_drawdown_pct": 55.88379582520051,
      "mean_exposure_while_solvent": 0.829173705025039,
      "realized_annual_volatility_pct": 60.665111691350674,
      "trading_costs_quote_units": 290.04093300329896,
      "borrowing_costs_quote_units": 33.217287033951955,
      "price_pnl_quote_units": 19912.17412061155,
      "turnover_quote_units": 96680.31100109952,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 41805.97331052904,
      "return_pct": 318.0597331052905,
      "cagr_pct": 317.10726465513517,
      "max_drawdown_pct": 57.7933746386184,
      "mean_exposure_while_solvent": 1.0879958301597719,
      "realized_annual_volatility_pct": 71.11247137053269,
      "trading_costs_quote_units": 386.2138126268069,
      "borrowing_costs_quote_units": 438.1995393278356,
      "price_pnl_quote_units": 32630.386662483717,
      "turnover_quote_units": 128737.93754226883,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 52514.34758550714,
      "return_pct": 425.14347585507136,
      "cagr_pct": 423.7565501721905,
      "max_drawdown_pct": 58.02935987288972,
      "mean_exposure_while_solvent": 1.2451872373483504,
      "realized_annual_volatility_pct": 77.8706004698106,
      "trading_costs_quote_units": 412.4136725113284,
      "borrowing_costs_quote_units": 986.1350789972213,
      "price_pnl_quote_units": 43912.89633701563,
      "turnover_quote_units": 137471.22417044285,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 268,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 36261.22447601022,
      "return_pct": 262.61224476010216,
      "cagr_pct": 261.8681964159815,
      "max_drawdown_pct": 58.95664379378538,
      "mean_exposure_while_solvent": 1.1211967325808645,
      "realized_annual_volatility_pct": 69.81870559574602,
      "trading_costs_quote_units": 582.9097877826548,
      "borrowing_costs_quote_units": 485.9191359947647,
      "price_pnl_quote_units": 27330.053399787652,
      "turnover_quote_units": 194303.26259421802,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 316,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 45750.33654603537,
      "return_pct": 357.50336546035373,
      "cagr_pct": 356.39541482885005,
      "max_drawdown_pct": 57.04277674008116,
      "mean_exposure_while_solvent": 1.1039350798169942,
      "realized_annual_volatility_pct": 72.59935527357891,
      "trading_costs_quote_units": 228.57493685647538,
      "borrowing_costs_quote_units": 394.40339873176885,
      "price_pnl_quote_units": 36373.31488162362,
      "turnover_quote_units": 76191.6456188251,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 167,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 36346.58812893511,
      "return_pct": 263.4658812893511,
      "cagr_pct": 262.7187214046104,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9417419673972003,
      "realized_annual_volatility_pct": 64.73992013168227,
      "trading_costs_quote_units": 120.89865352870213,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 26467.486782463806,
      "turnover_quote_units": 40299.55117623403,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 78,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29642.0357426598,
      "return_pct": 196.420357426598,
      "cagr_pct": 195.9072144167728,
      "max_drawdown_pct": 44.8953426534547,
      "mean_exposure_while_solvent": 0.7498542188570325,
      "realized_annual_volatility_pct": 50.194482730332766,
      "trading_costs_quote_units": 90.49511009231396,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19732.530852752116,
      "turnover_quote_units": 30165.036697437947,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 39996.94672976727,
      "return_pct": 299.9694672976727,
      "cagr_pct": 299.08636296788654,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9995435874030123,
      "realized_annual_volatility_pct": 67.99567335045327,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 30026.856998959713,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 48759.446448114366,
      "return_pct": 387.5944644811437,
      "cagr_pct": 386.36423804049844,
      "max_drawdown_pct": 65.75393450059474,
      "mean_exposure_while_solvent": 1.2492815381434568,
      "realized_annual_volatility_pct": 86.7653939534597,
      "trading_costs_quote_units": 165.2029370352975,
      "borrowing_costs_quote_units": 786.1643181636738,
      "price_pnl_quote_units": 39710.81370331336,
      "turnover_quote_units": 55067.64567843249,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 56755.357931231076,
      "return_pct": 467.5535793123108,
      "cagr_pct": 465.9845524794965,
      "max_drawdown_pct": 73.9622662038433,
      "mean_exposure_while_solvent": 1.499113220162566,
      "realized_annual_volatility_pct": 107.04850283727384,
      "trading_costs_quote_units": 353.91193145448455,
      "borrowing_costs_quote_units": 1570.7840422357006,
      "price_pnl_quote_units": 48680.05390492129,
      "turnover_quote_units": 117970.64381816139,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 364,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 29052.232981588164,
      "return_pct": 190.52232981588162,
      "cagr_pct": 190.02869151556604,
      "max_drawdown_pct": 55.72592618028076,
      "mean_exposure_while_solvent": 0.8282884548951405,
      "realized_annual_volatility_pct": 60.649922222330964,
      "trading_costs_quote_units": 290.2072890759786,
      "borrowing_costs_quote_units": 8.105915459764802,
      "price_pnl_quote_units": 19350.546186123913,
      "turnover_quote_units": 96735.76302532623,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 42667.88460105508,
      "return_pct": 326.6788460105507,
      "cagr_pct": 325.6928882616617,
      "max_drawdown_pct": 57.44513324119609,
      "mean_exposure_while_solvent": 1.086443567424681,
      "realized_annual_volatility_pct": 70.98715462365391,
      "trading_costs_quote_units": 362.83276713645773,
      "borrowing_costs_quote_units": 109.53401109788507,
      "price_pnl_quote_units": 33140.251379289424,
      "turnover_quote_units": 120944.2557121527,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 54255.89981362294,
      "return_pct": 442.55899813622943,
      "cagr_pct": 441.0979275279953,
      "max_drawdown_pct": 57.91586197400109,
      "mean_exposure_while_solvent": 1.2434313803986101,
      "realized_annual_volatility_pct": 77.82171154329895,
      "trading_costs_quote_units": 401.52790384459007,
      "borrowing_costs_quote_units": 249.5331725153717,
      "price_pnl_quote_units": 44906.96088998293,
      "turnover_quote_units": 133842.63461486332,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 38231.71243482513,
      "return_pct": 282.3171243482513,
      "cagr_pct": 281.5004521483725,
      "max_drawdown_pct": 59.375133514502465,
      "mean_exposure_while_solvent": 1.1201225071232757,
      "realized_annual_volatility_pct": 69.69175142128682,
      "trading_costs_quote_units": 604.5823662447989,
      "borrowing_costs_quote_units": 125.30395501644395,
      "price_pnl_quote_units": 28961.59875608636,
      "turnover_quote_units": 201527.455414933,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 317,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 45727.530748405785,
      "return_pct": 357.27530748405786,
      "cagr_pct": 356.1682718229344,
      "max_drawdown_pct": 56.96713409854656,
      "mean_exposure_while_solvent": 1.1027234075179244,
      "realized_annual_volatility_pct": 72.65917322225506,
      "trading_costs_quote_units": 224.65912258436538,
      "borrowing_costs_quote_units": 98.0230901867035,
      "price_pnl_quote_units": 36050.21296117683,
      "turnover_quote_units": 74886.37419478844,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 168,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 35479.59213538451,
      "return_pct": 254.7959213538451,
      "cagr_pct": 254.08021441583654,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9409193413490596,
      "realized_annual_volatility_pct": 64.75266220443554,
      "trading_costs_quote_units": 118.96197492498584,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 25598.554110309517,
      "turnover_quote_units": 39653.99164166192,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 79,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 29368.587957042022,
      "return_pct": 193.6858795704202,
      "cagr_pct": 193.18180286542437,
      "max_drawdown_pct": 45.314687111495424,
      "mean_exposure_while_solvent": 0.7494595304168672,
      "realized_annual_volatility_pct": 50.649788374028226,
      "trading_costs_quote_units": 86.77020846627981,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19455.358165508304,
      "turnover_quote_units": 28923.402822093274,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 39862.263285962625,
      "return_pct": 298.62263285962626,
      "cagr_pct": 297.74464146932195,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.998630762209037,
      "realized_annual_volatility_pct": 67.9938180528261,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 29892.173555155037,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 51178.669505328646,
      "return_pct": 411.7866950532864,
      "cagr_pct": 410.4560147377759,
      "max_drawdown_pct": 65.08769062361182,
      "mean_exposure_while_solvent": 1.2475747958472454,
      "realized_annual_volatility_pct": 85.69477232779543,
      "trading_costs_quote_units": 163.09954116576623,
      "borrowing_costs_quote_units": 202.26312466096783,
      "price_pnl_quote_units": 41544.03217115538,
      "turnover_quote_units": 54366.51372192209,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 63464.89981867063,
      "return_pct": 534.6489981867063,
      "cagr_pct": 532.7817314755135,
      "max_drawdown_pct": 72.62196603455328,
      "mean_exposure_while_solvent": 1.4963295658405533,
      "realized_annual_volatility_pct": 103.83293559905422,
      "trading_costs_quote_units": 362.4507550294899,
      "borrowing_costs_quote_units": 422.74474488775456,
      "price_pnl_quote_units": 54250.09531858785,
      "turnover_quote_units": 120816.9183431633,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 29034.390120293578,
      "return_pct": 190.34390120293577,
      "cagr_pct": 189.85085001772478,
      "max_drawdown_pct": 55.72592618028076,
      "mean_exposure_while_solvent": 0.8282892656392845,
      "realized_annual_volatility_pct": 60.64987285533595,
      "trading_costs_quote_units": 290.15643251651613,
      "borrowing_costs_quote_units": 16.20775316130891,
      "price_pnl_quote_units": 19340.75430597139,
      "turnover_quote_units": 96718.81083883875,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 42357.79805697976,
      "return_pct": 323.5779805697976,
      "cagr_pct": 322.6041032822602,
      "max_drawdown_pct": 57.46101624282722,
      "mean_exposure_while_solvent": 1.086454911228378,
      "realized_annual_volatility_pct": 70.9876194069001,
      "trading_costs_quote_units": 361.75844359639194,
      "borrowing_costs_quote_units": 218.2242875778774,
      "price_pnl_quote_units": 32937.780788154065,
      "turnover_quote_units": 120586.14786546392,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 53508.86737364271,
      "return_pct": 435.0886737364271,
      "cagr_pct": 433.65951772133957,
      "max_drawdown_pct": 57.937466283074656,
      "mean_exposure_while_solvent": 1.2434547006486698,
      "realized_annual_volatility_pct": 77.82281775130421,
      "trading_costs_quote_units": 398.7525784193474,
      "borrowing_costs_quote_units": 495.1043084453297,
      "price_pnl_quote_units": 44402.72426050744,
      "turnover_quote_units": 132917.52613978248,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 37877.323487189155,
      "return_pct": 278.7732348718916,
      "cagr_pct": 277.9697454210648,
      "max_drawdown_pct": 59.40647850448869,
      "mean_exposure_while_solvent": 1.1201378523944816,
      "realized_annual_volatility_pct": 69.69269987600924,
      "trading_costs_quote_units": 601.8692452227947,
      "borrowing_costs_quote_units": 249.40504034052256,
      "price_pnl_quote_units": 28728.597772752426,
      "turnover_quote_units": 200623.0817409315,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 317,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 45470.8095017336,
      "return_pct": 354.70809501733595,
      "cagr_pct": 353.611346549947,
      "max_drawdown_pct": 56.97876946011586,
      "mean_exposure_while_solvent": 1.1027320920733577,
      "realized_annual_volatility_pct": 72.65940462737302,
      "trading_costs_quote_units": 224.17073801201832,
      "borrowing_costs_quote_units": 195.43055820175556,
      "price_pnl_quote_units": 35890.41079794737,
      "turnover_quote_units": 74723.57933733938,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 168,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 35479.59213538451,
      "return_pct": 254.7959213538451,
      "cagr_pct": 254.08021441583654,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9409193413490596,
      "realized_annual_volatility_pct": 64.75266220443554,
      "trading_costs_quote_units": 118.96197492498584,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 25598.554110309517,
      "turnover_quote_units": 39653.99164166192,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 79,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 29368.587957042022,
      "return_pct": 193.6858795704202,
      "cagr_pct": 193.18180286542437,
      "max_drawdown_pct": 45.314687111495424,
      "mean_exposure_while_solvent": 0.7494595304168672,
      "realized_annual_volatility_pct": 50.649788374028226,
      "trading_costs_quote_units": 86.77020846627981,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19455.358165508304,
      "turnover_quote_units": 28923.402822093274,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 39862.263285962625,
      "return_pct": 298.62263285962626,
      "cagr_pct": 297.74464146932195,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.998630762209037,
      "realized_annual_volatility_pct": 67.9938180528261,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 29892.173555155037,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 50545.04433969489,
      "return_pct": 405.4504433969489,
      "cagr_pct": 404.1462523209975,
      "max_drawdown_pct": 65.12778693481945,
      "mean_exposure_while_solvent": 1.2475925846047715,
      "realized_annual_volatility_pct": 85.69663227063343,
      "trading_costs_quote_units": 162.02285235033693,
      "borrowing_costs_quote_units": 401.5342564046485,
      "price_pnl_quote_units": 41108.60144844992,
      "turnover_quote_units": 54007.61745011231,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 61903.35326729691,
      "return_pct": 519.033532672969,
      "cagr_pct": 517.2367284895473,
      "max_drawdown_pct": 72.68542654371907,
      "mean_exposure_while_solvent": 1.4963722244605853,
      "realized_annual_volatility_pct": 103.83755955855491,
      "trading_costs_quote_units": 357.18208202201106,
      "borrowing_costs_quote_units": 832.7033176212439,
      "price_pnl_quote_units": 53093.23866694019,
      "turnover_quote_units": 119060.69400733699,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 28998.730013259363,
      "return_pct": 189.98730013259362,
      "cagr_pct": 189.49542181243123,
      "max_drawdown_pct": 55.72592618028076,
      "mean_exposure_while_solvent": 0.8282908873404123,
      "realized_annual_volatility_pct": 60.649775165031194,
      "trading_costs_quote_units": 290.05478173501956,
      "borrowing_costs_quote_units": 32.399200531803835,
      "price_pnl_quote_units": 19321.183995526204,
      "turnover_quote_units": 96684.92724500659,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 41744.21283279163,
      "return_pct": 317.44212832791624,
      "cagr_pct": 316.49204879369313,
      "max_drawdown_pct": 57.49277477229715,
      "mean_exposure_while_solvent": 1.0864776031092158,
      "realized_annual_volatility_pct": 70.9885642761609,
      "trading_costs_quote_units": 359.62774159758726,
      "borrowing_costs_quote_units": 433.0982588680079,
      "price_pnl_quote_units": 32536.938833257234,
      "turnover_quote_units": 119875.91386586241,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 52045.076886558,
      "return_pct": 420.45076886558,
      "cagr_pct": 419.08366633949214,
      "max_drawdown_pct": 57.98065741868954,
      "mean_exposure_while_solvent": 1.2435013511486395,
      "realized_annual_volatility_pct": 77.82505659743309,
      "trading_costs_quote_units": 393.29994530406,
      "borrowing_costs_quote_units": 974.593680613229,
      "price_pnl_quote_units": 43412.97051247524,
      "turnover_quote_units": 131099.98176802,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 269,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 37178.18657149328,
      "return_pct": 271.7818657149328,
      "cagr_pct": 271.0042281957664,
      "max_drawdown_pct": 59.46911570536071,
      "mean_exposure_while_solvent": 1.1201685493536622,
      "realized_annual_volatility_pct": 69.69462051322132,
      "trading_costs_quote_units": 596.4983666654238,
      "borrowing_costs_quote_units": 494.0434309558943,
      "price_pnl_quote_units": 28268.72836911459,
      "turnover_quote_units": 198832.78888847458,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 317,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 44961.50628552342,
      "return_pct": 349.61506285523416,
      "cagr_pct": 348.5386546495096,
      "max_drawdown_pct": 57.00205445895079,
      "mean_exposure_while_solvent": 1.1027494643736062,
      "realized_annual_volatility_pct": 72.65988043331163,
      "trading_costs_quote_units": 223.218848247389,
      "borrowing_costs_quote_units": 388.4126053682942,
      "price_pnl_quote_units": 35573.137739139085,
      "turnover_quote_units": 74406.2827491296,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 168,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 35479.59213538451,
      "return_pct": 254.7959213538451,
      "cagr_pct": 254.08021441583654,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.9409193413490596,
      "realized_annual_volatility_pct": 64.75266220443554,
      "trading_costs_quote_units": 118.96197492498584,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 25598.554110309517,
      "turnover_quote_units": 39653.99164166192,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 79,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29368.587957042022,
      "return_pct": 193.6858795704202,
      "cagr_pct": 193.18180286542437,
      "max_drawdown_pct": 45.314687111495424,
      "mean_exposure_while_solvent": 0.7494595304168672,
      "realized_annual_volatility_pct": 50.649788374028226,
      "trading_costs_quote_units": 86.77020846627981,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 19455.358165508304,
      "turnover_quote_units": 28923.402822093274,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 39862.263285962625,
      "return_pct": 298.62263285962626,
      "cagr_pct": 297.74464146932195,
      "max_drawdown_pct": 56.014408838757035,
      "mean_exposure_while_solvent": 0.998630762209037,
      "realized_annual_volatility_pct": 67.9938180528261,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 29892.173555155037,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 49300.91934853496,
      "return_pct": 393.0091934853496,
      "cagr_pct": 391.7566456519825,
      "max_drawdown_pct": 65.20786074640613,
      "mean_exposure_while_solvent": 1.2476281676560292,
      "realized_annual_volatility_pct": 85.70035404190747,
      "trading_costs_quote_units": 159.913973712883,
      "borrowing_costs_quote_units": 791.2637277071151,
      "price_pnl_quote_units": 40252.09704995496,
      "turnover_quote_units": 53304.657904294334,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2020",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 58893.66606751234,
      "return_pct": 488.9366606751234,
      "cagr_pct": 487.27388599763276,
      "max_drawdown_pct": 72.81194445267161,
      "mean_exposure_while_solvent": 1.4964575603801424,
      "realized_annual_volatility_pct": 103.84681308171389,
      "trading_costs_quote_units": 346.9939261305127,
      "borrowing_costs_quote_units": 1615.6832232203735,
      "price_pnl_quote_units": 50856.34321686326,
      "turnover_quote_units": 115664.64204350428,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 4
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 12596.70394206153,
      "return_pct": 25.96703942061529,
      "cagr_pct": 26.000254743489908,
      "max_drawdown_pct": 29.52589351408157,
      "mean_exposure_while_solvent": 0.5011128837811546,
      "realized_annual_volatility_pct": 41.469252543773635,
      "trading_costs_quote_units": 38.20435035823947,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2634.908292419769,
      "turnover_quote_units": 63673.91726373245,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13362.495619009622,
      "return_pct": 33.62495619009622,
      "cagr_pct": 33.66919997483437,
      "max_drawdown_pct": 41.72390993901308,
      "mean_exposure_while_solvent": 0.7515700766605002,
      "realized_annual_volatility_pct": 62.34397852963791,
      "trading_costs_quote_units": 54.544889542249074,
      "borrowing_costs_quote_units": 3.480041655529838,
      "price_pnl_quote_units": 3420.5205502074114,
      "turnover_quote_units": 90908.14923708177,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13574.94522547947,
      "return_pct": 35.74945225479471,
      "cagr_pct": 35.79684581924446,
      "max_drawdown_pct": 52.335514444107766,
      "mean_exposure_while_solvent": 1.0020591069118603,
      "realized_annual_volatility_pct": 83.34633994917738,
      "trading_costs_quote_units": 76.87145788789823,
      "borrowing_costs_quote_units": 88.04832156144423,
      "price_pnl_quote_units": 3739.8650049288353,
      "turnover_quote_units": 128119.09647983046,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 12505.914777251646,
      "return_pct": 25.059147772516454,
      "cagr_pct": 25.09109029811062,
      "max_drawdown_pct": 46.88214882082592,
      "mean_exposure_while_solvent": 0.7824194150274872,
      "realized_annual_volatility_pct": 63.976284763121136,
      "trading_costs_quote_units": 96.0761649310308,
      "borrowing_costs_quote_units": 16.513159918964277,
      "price_pnl_quote_units": 2618.50410210166,
      "turnover_quote_units": 160126.94155171808,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13734.304367646859,
      "return_pct": 37.34304367646859,
      "cagr_pct": 37.39282489574336,
      "max_drawdown_pct": 40.37877741276529,
      "mean_exposure_while_solvent": 0.7314836858862858,
      "realized_annual_volatility_pct": 62.60748183681297,
      "trading_costs_quote_units": 34.32564289504322,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3768.630010541875,
      "turnover_quote_units": 57209.40482507207,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13756.149620329446,
      "return_pct": 37.56149620329445,
      "cagr_pct": 37.611606380638094,
      "max_drawdown_pct": 41.4919501997874,
      "mean_exposure_while_solvent": 0.7474007586920303,
      "realized_annual_volatility_pct": 61.841547667143445,
      "trading_costs_quote_units": 45.842513411475025,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3801.9921337409196,
      "turnover_quote_units": 76404.18901912516,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 14963.977206144738,
      "return_pct": 49.63977206144739,
      "cagr_pct": 49.70867086849049,
      "max_drawdown_pct": 43.15602922925217,
      "mean_exposure_while_solvent": 0.7498154884698544,
      "realized_annual_volatility_pct": 65.58894279119407,
      "trading_costs_quote_units": 22.74041652699527,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4986.717622671729,
      "turnover_quote_units": 37900.69421165881,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 15834.492445957783,
      "return_pct": 58.34492445957784,
      "cagr_pct": 58.428062087625165,
      "max_drawdown_pct": 54.15264145687626,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 87.61319516977642,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5840.488848116501,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 15848.919616548073,
      "return_pct": 58.48919616548074,
      "cagr_pct": 58.57257447277533,
      "max_drawdown_pct": 63.697479578416385,
      "mean_exposure_while_solvent": 1.249304556656587,
      "realized_annual_volatility_pct": 109.76788661799166,
      "trading_costs_quote_units": 42.38240351763506,
      "borrowing_costs_quote_units": 214.72081770316962,
      "price_pnl_quote_units": 6106.022837768886,
      "turnover_quote_units": 70637.33919605831,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 15228.36676218837,
      "return_pct": 52.2836676218837,
      "cagr_pct": 52.356831237429404,
      "max_drawdown_pct": 71.67230349979575,
      "mean_exposure_while_solvent": 1.4991620022343461,
      "realized_annual_volatility_pct": 132.08001908702929,
      "trading_costs_quote_units": 95.74155806617104,
      "borrowing_costs_quote_units": 445.61563984102196,
      "price_pnl_quote_units": 5769.72396009562,
      "turnover_quote_units": 159569.26344361834,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 12596.70394206153,
      "return_pct": 25.96703942061529,
      "cagr_pct": 26.000254743489908,
      "max_drawdown_pct": 29.52589351408157,
      "mean_exposure_while_solvent": 0.5011128837811546,
      "realized_annual_volatility_pct": 41.469252543773635,
      "trading_costs_quote_units": 38.20435035823947,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2634.908292419769,
      "turnover_quote_units": 63673.91726373245,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13359.68064214193,
      "return_pct": 33.59680642141929,
      "cagr_pct": 33.64100872927842,
      "max_drawdown_pct": 41.724840542037875,
      "mean_exposure_while_solvent": 0.7515703294001044,
      "realized_annual_volatility_pct": 62.34413517846217,
      "trading_costs_quote_units": 54.542987098866405,
      "borrowing_costs_quote_units": 6.959767470567896,
      "price_pnl_quote_units": 3421.183396711345,
      "turnover_quote_units": 90904.9784981107,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13505.048624753996,
      "return_pct": 35.05048624753995,
      "cagr_pct": 35.09683929741563,
      "max_drawdown_pct": 52.35861838105159,
      "mean_exposure_while_solvent": 1.002066560483255,
      "realized_annual_volatility_pct": 83.34775597875364,
      "trading_costs_quote_units": 76.7416830605949,
      "borrowing_costs_quote_units": 175.6463346153988,
      "price_pnl_quote_units": 3757.436642430028,
      "turnover_quote_units": 127902.8051009915,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 12492.45507651232,
      "return_pct": 24.92455076512321,
      "cagr_pct": 24.956305235898494,
      "max_drawdown_pct": 46.89375419946209,
      "mean_exposure_while_solvent": 0.7824208945051307,
      "realized_annual_volatility_pct": 63.976662652085906,
      "trading_costs_quote_units": 96.03751585777815,
      "borrowing_costs_quote_units": 33.01110925412576,
      "price_pnl_quote_units": 2621.5037016242372,
      "turnover_quote_units": 160062.52642963018,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13734.304367646859,
      "return_pct": 37.34304367646859,
      "cagr_pct": 37.39282489574336,
      "max_drawdown_pct": 40.37877741276529,
      "mean_exposure_while_solvent": 0.7314836858862858,
      "realized_annual_volatility_pct": 62.60748183681297,
      "trading_costs_quote_units": 34.32564289504322,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3768.630010541875,
      "turnover_quote_units": 57209.40482507207,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13756.149620329446,
      "return_pct": 37.56149620329445,
      "cagr_pct": 37.611606380638094,
      "max_drawdown_pct": 41.4919501997874,
      "mean_exposure_while_solvent": 0.7474007586920303,
      "realized_annual_volatility_pct": 61.841547667143445,
      "trading_costs_quote_units": 45.842513411475025,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3801.9921337409196,
      "turnover_quote_units": 76404.18901912516,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14963.977206144738,
      "return_pct": 49.63977206144739,
      "cagr_pct": 49.70867086849049,
      "max_drawdown_pct": 43.15602922925217,
      "mean_exposure_while_solvent": 0.7498154884698544,
      "realized_annual_volatility_pct": 65.58894279119407,
      "trading_costs_quote_units": 22.74041652699527,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4986.717622671729,
      "turnover_quote_units": 37900.69421165881,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 15834.492445957783,
      "return_pct": 58.34492445957784,
      "cagr_pct": 58.428062087625165,
      "max_drawdown_pct": 54.15264145687626,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 87.61319516977642,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5840.488848116501,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 15652.292418886735,
      "return_pct": 56.52292418886735,
      "cagr_pct": 56.603035277707825,
      "max_drawdown_pct": 63.81887618106232,
      "mean_exposure_while_solvent": 1.2493223571455963,
      "realized_annual_volatility_pct": 109.77007693264615,
      "trading_costs_quote_units": 42.184115127468,
      "borrowing_costs_quote_units": 426.7337084965893,
      "price_pnl_quote_units": 6121.21024251079,
      "turnover_quote_units": 70306.85854578008,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14852.577888384596,
      "return_pct": 48.52577888384595,
      "cagr_pct": 48.59289668039943,
      "max_drawdown_pct": 71.86208217992981,
      "mean_exposure_while_solvent": 1.4992047584650572,
      "realized_annual_volatility_pct": 132.08532469888544,
      "trading_costs_quote_units": 94.76840251867402,
      "borrowing_costs_quote_units": 880.1773063668508,
      "price_pnl_quote_units": 5827.523597270097,
      "turnover_quote_units": 157947.33753112346,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12596.70394206153,
      "return_pct": 25.96703942061529,
      "cagr_pct": 26.000254743489908,
      "max_drawdown_pct": 29.52589351408157,
      "mean_exposure_while_solvent": 0.5011128837811546,
      "realized_annual_volatility_pct": 41.469252543773635,
      "trading_costs_quote_units": 38.20435035823947,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2634.908292419769,
      "turnover_quote_units": 63673.91726373245,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13354.051435437714,
      "return_pct": 33.54051435437712,
      "cagr_pct": 33.584633739834246,
      "max_drawdown_pct": 41.72670204477382,
      "mean_exposure_while_solvent": 0.7515708349330613,
      "realized_annual_volatility_pct": 62.344448654220244,
      "trading_costs_quote_units": 54.53918208967173,
      "borrowing_costs_quote_units": 13.918271298891435,
      "price_pnl_quote_units": 3422.508888826277,
      "turnover_quote_units": 90898.63681611953,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13366.302004163561,
      "return_pct": 33.66302004163562,
      "cagr_pct": 33.70731992180425,
      "max_drawdown_pct": 52.40480310748187,
      "mean_exposure_while_solvent": 1.0020814700370935,
      "realized_annual_volatility_pct": 83.3505958180954,
      "trading_costs_quote_units": 76.48324848479713,
      "borrowing_costs_quote_units": 349.50018305335976,
      "price_pnl_quote_units": 3792.2854357017177,
      "turnover_quote_units": 127472.08080799523,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12465.573461687069,
      "return_pct": 24.655734616870696,
      "cagr_pct": 24.68711400252529,
      "max_drawdown_pct": 46.91696283295719,
      "mean_exposure_while_solvent": 0.7824238538837296,
      "realized_annual_volatility_pct": 63.97742062290246,
      "trading_costs_quote_units": 95.96027751633764,
      "borrowing_costs_quote_units": 65.96142297956098,
      "price_pnl_quote_units": 2627.4951621829578,
      "turnover_quote_units": 159933.79586056294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13734.304367646859,
      "return_pct": 37.34304367646859,
      "cagr_pct": 37.39282489574336,
      "max_drawdown_pct": 40.37877741276529,
      "mean_exposure_while_solvent": 0.7314836858862858,
      "realized_annual_volatility_pct": 62.60748183681297,
      "trading_costs_quote_units": 34.32564289504322,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3768.630010541875,
      "turnover_quote_units": 57209.40482507207,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13756.149620329446,
      "return_pct": 37.56149620329445,
      "cagr_pct": 37.611606380638094,
      "max_drawdown_pct": 41.4919501997874,
      "mean_exposure_while_solvent": 0.7474007586920303,
      "realized_annual_volatility_pct": 61.841547667143445,
      "trading_costs_quote_units": 45.842513411475025,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3801.9921337409196,
      "turnover_quote_units": 76404.18901912516,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 14963.977206144738,
      "return_pct": 49.63977206144739,
      "cagr_pct": 49.70867086849049,
      "max_drawdown_pct": 43.15602922925217,
      "mean_exposure_while_solvent": 0.7498154884698544,
      "realized_annual_volatility_pct": 65.58894279119407,
      "trading_costs_quote_units": 22.74041652699527,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4986.717622671729,
      "turnover_quote_units": 37900.69421165881,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 15834.492445957783,
      "return_pct": 58.34492445957784,
      "cagr_pct": 58.428062087625165,
      "max_drawdown_pct": 54.15264145687626,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 87.61319516977642,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5840.488848116501,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 15266.239629717393,
      "return_pct": 52.66239629717393,
      "cagr_pct": 52.736175152513724,
      "max_drawdown_pct": 64.06050678506897,
      "mean_exposure_while_solvent": 1.2493579636077161,
      "realized_annual_volatility_pct": 109.77445856866315,
      "trading_costs_quote_units": 41.79429555390388,
      "borrowing_costs_quote_units": 842.7693570188154,
      "price_pnl_quote_units": 6150.803282290088,
      "turnover_quote_units": 69657.15925650648,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 14128.394078250516,
      "return_pct": 41.28394078250517,
      "cagr_pct": 41.33971690339847,
      "max_drawdown_pct": 72.23793711487379,
      "mean_exposure_while_solvent": 1.4992902894935043,
      "realized_annual_volatility_pct": 132.09593928861543,
      "trading_costs_quote_units": 92.87248967164845,
      "borrowing_costs_quote_units": 1717.2237917158989,
      "price_pnl_quote_units": 5938.490359638022,
      "turnover_quote_units": 154787.48278608095,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 12853.123986805898,
      "return_pct": 28.53123986805899,
      "cagr_pct": 28.56809025314074,
      "max_drawdown_pct": 28.838751967438903,
      "mean_exposure_while_solvent": 0.500493839813302,
      "realized_annual_volatility_pct": 41.565209898642564,
      "trading_costs_quote_units": 40.82748437557807,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2893.9514711814923,
      "turnover_quote_units": 68045.8072926301,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13611.522114502892,
      "return_pct": 36.11522114502892,
      "cagr_pct": 36.16316085274162,
      "max_drawdown_pct": 40.976349306505064,
      "mean_exposure_while_solvent": 0.7505502491763866,
      "realized_annual_volatility_pct": 62.51145925960111,
      "trading_costs_quote_units": 56.255751270915574,
      "borrowing_costs_quote_units": 3.511117816084925,
      "price_pnl_quote_units": 3671.2889835899337,
      "turnover_quote_units": 93759.58545152606,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13682.263875300876,
      "return_pct": 36.822638753008754,
      "cagr_pct": 36.87163791961174,
      "max_drawdown_pct": 51.64456931103755,
      "mean_exposure_while_solvent": 1.0005978967977718,
      "realized_annual_volatility_pct": 83.6192136062149,
      "trading_costs_quote_units": 77.72060172658051,
      "borrowing_costs_quote_units": 88.84265511953573,
      "price_pnl_quote_units": 3848.827132147003,
      "turnover_quote_units": 129534.33621096755,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13070.439349368291,
      "return_pct": 30.7043934936829,
      "cagr_pct": 30.744370438025292,
      "max_drawdown_pct": 46.75143885853299,
      "mean_exposure_while_solvent": 0.7809723492260012,
      "realized_annual_volatility_pct": 64.09064894315998,
      "trading_costs_quote_units": 100.61275550657486,
      "borrowing_costs_quote_units": 16.90122588594113,
      "price_pnl_quote_units": 3187.95333076082,
      "turnover_quote_units": 167687.92584429146,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13879.19507513913,
      "return_pct": 38.791950751391305,
      "cagr_pct": 38.84392121000662,
      "max_drawdown_pct": 40.057762642521155,
      "mean_exposure_while_solvent": 0.7304899808986962,
      "realized_annual_volatility_pct": 62.72881660173304,
      "trading_costs_quote_units": 36.366534955794116,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3915.56161009489,
      "turnover_quote_units": 60610.89159299024,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13957.480562153058,
      "return_pct": 39.57480562153057,
      "cagr_pct": 39.627966152695755,
      "max_drawdown_pct": 40.863515080291535,
      "mean_exposure_while_solvent": 0.7463979154170155,
      "realized_annual_volatility_pct": 61.988543040523815,
      "trading_costs_quote_units": 47.57462577060682,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4005.0551879236577,
      "turnover_quote_units": 79291.04295101145,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 15083.47973711669,
      "return_pct": 50.83479737116689,
      "cagr_pct": 50.90561728475351,
      "max_drawdown_pct": 43.1165277283171,
      "mean_exposure_while_solvent": 0.7490522074796044,
      "realized_annual_volatility_pct": 65.59471321058713,
      "trading_costs_quote_units": 23.842091813195765,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5107.321828929896,
      "turnover_quote_units": 39736.819688659685,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 15782.73903642115,
      "return_pct": 57.827390364211496,
      "cagr_pct": 57.909665861483276,
      "max_drawdown_pct": 54.15264145687626,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 87.60880202139325,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5788.735438579867,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 15496.18213954747,
      "return_pct": 54.9618213954747,
      "cagr_pct": 55.03935861338049,
      "max_drawdown_pct": 63.746119692216126,
      "mean_exposure_while_solvent": 1.248307638975782,
      "realized_annual_volatility_pct": 109.75191452537234,
      "trading_costs_quote_units": 43.981512946508,
      "borrowing_costs_quote_units": 211.3022032530654,
      "price_pnl_quote_units": 5751.465855747045,
      "turnover_quote_units": 73302.5215775133,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 14481.868494755032,
      "return_pct": 44.818684947550324,
      "cagr_pct": 44.87994521010174,
      "max_drawdown_pct": 71.77145528718437,
      "mean_exposure_while_solvent": 1.4981572361906201,
      "realized_annual_volatility_pct": 132.05631476523857,
      "trading_costs_quote_units": 98.57691913459551,
      "borrowing_costs_quote_units": 430.8960704346582,
      "price_pnl_quote_units": 5011.341484324298,
      "turnover_quote_units": 164294.86522432585,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 12853.123986805898,
      "return_pct": 28.53123986805899,
      "cagr_pct": 28.56809025314074,
      "max_drawdown_pct": 28.838751967438903,
      "mean_exposure_while_solvent": 0.500493839813302,
      "realized_annual_volatility_pct": 41.565209898642564,
      "trading_costs_quote_units": 40.82748437557807,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2893.9514711814923,
      "turnover_quote_units": 68045.8072926301,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13608.662952183802,
      "return_pct": 36.086629521838034,
      "cagr_pct": 36.134526497781025,
      "max_drawdown_pct": 40.977273915668945,
      "mean_exposure_while_solvent": 0.750550500607963,
      "realized_annual_volatility_pct": 62.511594489120945,
      "trading_costs_quote_units": 56.25382869325824,
      "borrowing_costs_quote_units": 7.0219182494645205,
      "price_pnl_quote_units": 3671.938699126522,
      "turnover_quote_units": 93756.38115543043,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13611.906008140682,
      "return_pct": 36.119060081406815,
      "cagr_pct": 36.167005527146365,
      "max_drawdown_pct": 51.668503606859396,
      "mean_exposure_while_solvent": 1.0006053146917946,
      "realized_annual_volatility_pct": 83.6206684978371,
      "trading_costs_quote_units": 77.59529144122975,
      "borrowing_costs_quote_units": 177.23060835739204,
      "price_pnl_quote_units": 3866.7319079393023,
      "turnover_quote_units": 129325.48573538293,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13056.522290962108,
      "return_pct": 30.56522290962107,
      "cagr_pct": 30.604998380620934,
      "max_drawdown_pct": 46.763796922870426,
      "mean_exposure_while_solvent": 0.7809737951900603,
      "realized_annual_volatility_pct": 64.09105689363217,
      "trading_costs_quote_units": 100.57339578575873,
      "borrowing_costs_quote_units": 33.78692633353077,
      "price_pnl_quote_units": 3190.8826130813736,
      "turnover_quote_units": 167622.32630959776,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13879.19507513913,
      "return_pct": 38.791950751391305,
      "cagr_pct": 38.84392121000662,
      "max_drawdown_pct": 40.057762642521155,
      "mean_exposure_while_solvent": 0.7304899808986962,
      "realized_annual_volatility_pct": 62.72881660173304,
      "trading_costs_quote_units": 36.366534955794116,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3915.56161009489,
      "turnover_quote_units": 60610.89159299024,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13957.480562153058,
      "return_pct": 39.57480562153057,
      "cagr_pct": 39.627966152695755,
      "max_drawdown_pct": 40.863515080291535,
      "mean_exposure_while_solvent": 0.7463979154170155,
      "realized_annual_volatility_pct": 61.988543040523815,
      "trading_costs_quote_units": 47.57462577060682,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4005.0551879236577,
      "turnover_quote_units": 79291.04295101145,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 15083.47973711669,
      "return_pct": 50.83479737116689,
      "cagr_pct": 50.90561728475351,
      "max_drawdown_pct": 43.1165277283171,
      "mean_exposure_while_solvent": 0.7490522074796044,
      "realized_annual_volatility_pct": 65.59471321058713,
      "trading_costs_quote_units": 23.842091813195765,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5107.321828929896,
      "turnover_quote_units": 39736.819688659685,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 15782.73903642115,
      "return_pct": 57.827390364211496,
      "cagr_pct": 57.909665861483276,
      "max_drawdown_pct": 54.15264145687626,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 87.60880202139325,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5788.735438579867,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 15304.063036561221,
      "return_pct": 53.040630365612216,
      "cagr_pct": 53.11502472995262,
      "max_drawdown_pct": 63.867342975987775,
      "mean_exposure_while_solvent": 1.248325428448795,
      "realized_annual_volatility_pct": 109.7540655790684,
      "trading_costs_quote_units": 43.77125623639081,
      "borrowing_costs_quote_units": 419.9481798715398,
      "price_pnl_quote_units": 5767.782472669139,
      "turnover_quote_units": 72952.09372731799,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 14124.677332357549,
      "return_pct": 41.24677332357549,
      "cagr_pct": 41.302492312333136,
      "max_drawdown_pct": 71.96055944328918,
      "mean_exposure_while_solvent": 1.4981999854950063,
      "realized_annual_volatility_pct": 132.06153442252503,
      "trading_costs_quote_units": 97.58680417574563,
      "borrowing_costs_quote_units": 851.1570179320195,
      "price_pnl_quote_units": 5073.421154465314,
      "turnover_quote_units": 162644.67362624258,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12853.123986805898,
      "return_pct": 28.53123986805899,
      "cagr_pct": 28.56809025314074,
      "max_drawdown_pct": 28.838751967438903,
      "mean_exposure_while_solvent": 0.500493839813302,
      "realized_annual_volatility_pct": 41.565209898642564,
      "trading_costs_quote_units": 40.82748437557807,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2893.9514711814923,
      "turnover_quote_units": 68045.8072926301,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13602.945381727443,
      "return_pct": 36.02945381727443,
      "cagr_pct": 36.07726536155889,
      "max_drawdown_pct": 40.979123428939324,
      "mean_exposure_while_solvent": 0.7505510035245925,
      "realized_annual_volatility_pct": 62.51186513076578,
      "trading_costs_quote_units": 56.24998341480773,
      "borrowing_costs_quote_units": 14.042566683202635,
      "price_pnl_quote_units": 3673.237931825442,
      "turnover_quote_units": 93749.97235801294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13472.242363563957,
      "return_pct": 34.72242363563958,
      "cagr_pct": 34.7682897411225,
      "max_drawdown_pct": 51.716347290172216,
      "mean_exposure_while_solvent": 1.00062015287938,
      "realized_annual_volatility_pct": 83.62358633389582,
      "trading_costs_quote_units": 77.34574531391272,
      "borrowing_costs_quote_units": 352.6512240559789,
      "price_pnl_quote_units": 3902.2393329338347,
      "turnover_quote_units": 128909.5755231879,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13028.72679470199,
      "return_pct": 30.287267947019902,
      "cagr_pct": 30.3266415384291,
      "max_drawdown_pct": 46.78850999300944,
      "mean_exposure_while_solvent": 0.7809766875276867,
      "realized_annual_volatility_pct": 64.09187498801894,
      "trading_costs_quote_units": 100.49473878442228,
      "borrowing_costs_quote_units": 67.51179848070245,
      "price_pnl_quote_units": 3196.733331967103,
      "turnover_quote_units": 167491.23130737047,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13879.19507513913,
      "return_pct": 38.791950751391305,
      "cagr_pct": 38.84392121000662,
      "max_drawdown_pct": 40.057762642521155,
      "mean_exposure_while_solvent": 0.7304899808986962,
      "realized_annual_volatility_pct": 62.72881660173304,
      "trading_costs_quote_units": 36.366534955794116,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3915.56161009489,
      "turnover_quote_units": 60610.89159299024,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13957.480562153058,
      "return_pct": 39.57480562153057,
      "cagr_pct": 39.627966152695755,
      "max_drawdown_pct": 40.863515080291535,
      "mean_exposure_while_solvent": 0.7463979154170155,
      "realized_annual_volatility_pct": 61.988543040523815,
      "trading_costs_quote_units": 47.57462577060682,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4005.0551879236577,
      "turnover_quote_units": 79291.04295101145,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 15083.47973711669,
      "return_pct": 50.83479737116689,
      "cagr_pct": 50.90561728475351,
      "max_drawdown_pct": 43.1165277283171,
      "mean_exposure_while_solvent": 0.7490522074796044,
      "realized_annual_volatility_pct": 65.59471321058713,
      "trading_costs_quote_units": 23.842091813195765,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5107.321828929896,
      "turnover_quote_units": 39736.819688659685,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 15782.73903642115,
      "return_pct": 57.827390364211496,
      "cagr_pct": 57.909665861483276,
      "max_drawdown_pct": 54.15264145687626,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 87.60880202139325,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5788.735438579867,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 14926.855979186943,
      "return_pct": 49.268559791869436,
      "cagr_pct": 49.33686406127742,
      "max_drawdown_pct": 64.10863149260808,
      "mean_exposure_while_solvent": 1.2483610128770688,
      "realized_annual_volatility_pct": 109.7583688051731,
      "trading_costs_quote_units": 43.35837726063517,
      "borrowing_costs_quote_units": 829.402271347363,
      "price_pnl_quote_units": 5799.616627794885,
      "turnover_quote_units": 72263.96210105858,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13436.319289062423,
      "return_pct": 34.36319289062424,
      "cagr_pct": 34.40852683688952,
      "max_drawdown_pct": 72.33508384680924,
      "mean_exposure_while_solvent": 1.4982855026844357,
      "realized_annual_volatility_pct": 132.0719774543091,
      "trading_costs_quote_units": 95.65905474563745,
      "borrowing_costs_quote_units": 1660.8148657874901,
      "price_pnl_quote_units": 5192.793209595554,
      "turnover_quote_units": 159431.7579093957,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 12443.167606309828,
      "return_pct": 24.431676063098283,
      "cagr_pct": 24.46274332142225,
      "max_drawdown_pct": 29.7267423921569,
      "mean_exposure_while_solvent": 0.5011128837811546,
      "realized_annual_volatility_pct": 41.47232723046094,
      "trading_costs_quote_units": 189.79085654600274,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2632.9584628558296,
      "turnover_quote_units": 63263.61884866766,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13149.316033026527,
      "return_pct": 31.49316033026528,
      "cagr_pct": 31.534282347260813,
      "max_drawdown_pct": 41.931039898013054,
      "mean_exposure_while_solvent": 0.7515700766605002,
      "realized_annual_volatility_pct": 62.347530371822316,
      "trading_costs_quote_units": 270.37741429398244,
      "borrowing_costs_quote_units": 3.4342926431978076,
      "price_pnl_quote_units": 3423.127739963731,
      "turnover_quote_units": 90125.80476466089,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13292.235630738734,
      "return_pct": 32.92235630738733,
      "cagr_pct": 32.965566887984195,
      "max_drawdown_pct": 52.54181533206752,
      "mean_exposure_while_solvent": 1.0020591069118603,
      "realized_annual_volatility_pct": 83.35083211329565,
      "trading_costs_quote_units": 380.0068371634728,
      "borrowing_costs_quote_units": 86.71468353612951,
      "price_pnl_quote_units": 3758.957151438376,
      "turnover_quote_units": 126668.94572115748,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 12153.738674085567,
      "return_pct": 21.53738674085568,
      "cagr_pct": 21.564463852881577,
      "max_drawdown_pct": 47.23629666316542,
      "mean_exposure_while_solvent": 0.7824194150274872,
      "realized_annual_volatility_pct": 63.97561440284725,
      "trading_costs_quote_units": 473.3086129171432,
      "borrowing_costs_quote_units": 16.223694193556955,
      "price_pnl_quote_units": 2643.270981196263,
      "turnover_quote_units": 157769.5376390479,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13590.072929001248,
      "return_pct": 35.900729290012464,
      "cagr_pct": 35.94834859535989,
      "max_drawdown_pct": 40.52272653211744,
      "mean_exposure_while_solvent": 0.7314836858862858,
      "realized_annual_volatility_pct": 62.61000167697033,
      "trading_costs_quote_units": 170.63443738891124,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3760.7073663901774,
      "turnover_quote_units": 56878.14579630366,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13567.160439090958,
      "return_pct": 35.67160439090957,
      "cagr_pct": 35.71888186317666,
      "max_drawdown_pct": 41.68174076485971,
      "mean_exposure_while_solvent": 0.7474007586920303,
      "realized_annual_volatility_pct": 61.84430713416384,
      "trading_costs_quote_units": 227.50929059123195,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3794.6697296822135,
      "turnover_quote_units": 75836.43019707735,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 14861.686471153167,
      "return_pct": 48.61686471153166,
      "cagr_pct": 48.68412777486313,
      "max_drawdown_pct": 43.24704975701928,
      "mean_exposure_while_solvent": 0.7498154884698544,
      "realized_annual_volatility_pct": 65.59107000363127,
      "trading_costs_quote_units": 113.26785340739552,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4974.95432456054,
      "turnover_quote_units": 37755.95113579847,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 15796.603331431063,
      "return_pct": 57.96603331431063,
      "cagr_pct": 58.04853957891609,
      "max_drawdown_pct": 54.15264145687626,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 87.61374486011809,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5826.513600623485,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 15668.64938610738,
      "return_pct": 56.68649386107381,
      "cagr_pct": 56.76687566966798,
      "max_drawdown_pct": 63.79567065181349,
      "mean_exposure_while_solvent": 1.249304556656587,
      "realized_annual_volatility_pct": 109.77200107774088,
      "trading_costs_quote_units": 210.5212415858342,
      "borrowing_costs_quote_units": 213.07369265355706,
      "price_pnl_quote_units": 6092.244320346758,
      "turnover_quote_units": 70173.747195278,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 14868.823240513038,
      "return_pct": 48.688232405130385,
      "cagr_pct": 48.75560933270941,
      "max_drawdown_pct": 71.85714763704556,
      "mean_exposure_while_solvent": 1.4991620022343461,
      "realized_annual_volatility_pct": 132.08979491039398,
      "trading_costs_quote_units": 472.6045593204446,
      "borrowing_costs_quote_units": 439.11445133752426,
      "price_pnl_quote_units": 5780.542251171086,
      "turnover_quote_units": 157534.8531068147,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 12443.167606309828,
      "return_pct": 24.431676063098283,
      "cagr_pct": 24.46274332142225,
      "max_drawdown_pct": 29.7267423921569,
      "mean_exposure_while_solvent": 0.5011128837811546,
      "realized_annual_volatility_pct": 41.47232723046094,
      "trading_costs_quote_units": 189.79085654600274,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2632.9584628558296,
      "turnover_quote_units": 63263.61884866766,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13146.544450880067,
      "return_pct": 31.465444508800665,
      "cagr_pct": 31.50652619811613,
      "max_drawdown_pct": 41.9319675688655,
      "mean_exposure_while_solvent": 0.7515703294001044,
      "realized_annual_volatility_pct": 62.34768725443417,
      "trading_costs_quote_units": 270.3680503114845,
      "borrowing_costs_quote_units": 6.868274070780739,
      "price_pnl_quote_units": 3423.780775262336,
      "turnover_quote_units": 90122.6834371615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13223.804450044132,
      "return_pct": 32.23804450044132,
      "cagr_pct": 32.28025285340067,
      "max_drawdown_pct": 52.56484304368385,
      "mean_exposure_while_solvent": 1.002066560483255,
      "realized_annual_volatility_pct": 83.3522574782259,
      "trading_costs_quote_units": 379.3696089330036,
      "borrowing_costs_quote_units": 172.9870867230644,
      "price_pnl_quote_units": 3776.161145700197,
      "turnover_quote_units": 126456.53631100111,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 12140.65345865602,
      "return_pct": 21.406534586560188,
      "cagr_pct": 21.43343315070116,
      "max_drawdown_pct": 47.24785777042021,
      "mean_exposure_while_solvent": 0.7824208945051307,
      "realized_annual_volatility_pct": 63.97599614201521,
      "trading_costs_quote_units": 473.1194937693973,
      "borrowing_costs_quote_units": 32.43251094706956,
      "price_pnl_quote_units": 2646.2054633724883,
      "turnover_quote_units": 157706.4979231323,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13590.072929001248,
      "return_pct": 35.900729290012464,
      "cagr_pct": 35.94834859535989,
      "max_drawdown_pct": 40.52272653211744,
      "mean_exposure_while_solvent": 0.7314836858862858,
      "realized_annual_volatility_pct": 62.61000167697033,
      "trading_costs_quote_units": 170.63443738891124,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3760.7073663901774,
      "turnover_quote_units": 56878.14579630366,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13567.160439090958,
      "return_pct": 35.67160439090957,
      "cagr_pct": 35.71888186317666,
      "max_drawdown_pct": 41.68174076485971,
      "mean_exposure_while_solvent": 0.7474007586920303,
      "realized_annual_volatility_pct": 61.84430713416384,
      "trading_costs_quote_units": 227.50929059123195,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3794.6697296822135,
      "turnover_quote_units": 75836.43019707735,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14861.686471153167,
      "return_pct": 48.61686471153166,
      "cagr_pct": 48.68412777486313,
      "max_drawdown_pct": 43.24704975701928,
      "mean_exposure_while_solvent": 0.7498154884698544,
      "realized_annual_volatility_pct": 65.59107000363127,
      "trading_costs_quote_units": 113.26785340739552,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4974.95432456054,
      "turnover_quote_units": 37755.95113579847,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 15796.603331431063,
      "return_pct": 57.96603331431063,
      "cagr_pct": 58.04853957891609,
      "max_drawdown_pct": 54.15264145687626,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 87.61374486011809,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5826.513600623485,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 15474.226201386527,
      "return_pct": 54.74226201386527,
      "cagr_pct": 54.81943867178754,
      "max_drawdown_pct": 63.91681627506014,
      "mean_exposure_while_solvent": 1.2493223571455963,
      "realized_annual_volatility_pct": 109.77421287823847,
      "trading_costs_quote_units": 209.54072126451572,
      "borrowing_costs_quote_units": 423.46366983858223,
      "price_pnl_quote_units": 6107.230592489589,
      "turnover_quote_units": 69846.90708817182,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14501.812138982397,
      "return_pct": 45.018121389823975,
      "cagr_pct": 45.07969404122561,
      "max_drawdown_pct": 72.04584558678478,
      "mean_exposure_while_solvent": 1.4992047584650572,
      "realized_annual_volatility_pct": 132.09515389346615,
      "trading_costs_quote_units": 467.82885149715645,
      "borrowing_costs_quote_units": 867.3716457501072,
      "price_pnl_quote_units": 5837.012636229661,
      "turnover_quote_units": 155942.95049905218,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12443.167606309828,
      "return_pct": 24.431676063098283,
      "cagr_pct": 24.46274332142225,
      "max_drawdown_pct": 29.7267423921569,
      "mean_exposure_while_solvent": 0.5011128837811546,
      "realized_annual_volatility_pct": 41.47232723046094,
      "trading_costs_quote_units": 189.79085654600274,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2632.9584628558296,
      "turnover_quote_units": 63263.61884866766,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13141.002022964201,
      "return_pct": 31.41002022964201,
      "cagr_pct": 31.451021294357822,
      "max_drawdown_pct": 41.93382320632977,
      "mean_exposure_while_solvent": 0.7515708349330613,
      "realized_annual_volatility_pct": 62.348001198304445,
      "trading_costs_quote_units": 270.3493217342631,
      "borrowing_costs_quote_units": 13.735303002905047,
      "price_pnl_quote_units": 3425.086647701376,
      "turnover_quote_units": 90116.44057808774,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13087.966574161019,
      "return_pct": 30.879665741610186,
      "cagr_pct": 30.91989666377041,
      "max_drawdown_pct": 52.61087536467311,
      "mean_exposure_while_solvent": 1.0020814700370935,
      "realized_annual_volatility_pct": 83.35511600298368,
      "trading_costs_quote_units": 378.10061082843157,
      "borrowing_costs_quote_units": 344.2136337673972,
      "price_pnl_quote_units": 3810.2808187568517,
      "turnover_quote_units": 126033.53694281064,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12114.519776924513,
      "return_pct": 21.14519776924513,
      "cagr_pct": 21.171740221967895,
      "max_drawdown_pct": 47.27097785125927,
      "mean_exposure_while_solvent": 0.7824238538837296,
      "realized_annual_volatility_pct": 63.97676181980355,
      "trading_costs_quote_units": 472.7415473620849,
      "borrowing_costs_quote_units": 64.80555783377572,
      "price_pnl_quote_units": 2652.0668821203467,
      "turnover_quote_units": 157580.5157873616,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13590.072929001248,
      "return_pct": 35.900729290012464,
      "cagr_pct": 35.94834859535989,
      "max_drawdown_pct": 40.52272653211744,
      "mean_exposure_while_solvent": 0.7314836858862858,
      "realized_annual_volatility_pct": 62.61000167697033,
      "trading_costs_quote_units": 170.63443738891124,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3760.7073663901774,
      "turnover_quote_units": 56878.14579630366,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13567.160439090958,
      "return_pct": 35.67160439090957,
      "cagr_pct": 35.71888186317666,
      "max_drawdown_pct": 41.68174076485971,
      "mean_exposure_while_solvent": 0.7474007586920303,
      "realized_annual_volatility_pct": 61.84430713416384,
      "trading_costs_quote_units": 227.50929059123195,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3794.6697296822135,
      "turnover_quote_units": 75836.43019707735,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 14861.686471153167,
      "return_pct": 48.61686471153166,
      "cagr_pct": 48.68412777486313,
      "max_drawdown_pct": 43.24704975701928,
      "mean_exposure_while_solvent": 0.7498154884698544,
      "realized_annual_volatility_pct": 65.59107000363127,
      "trading_costs_quote_units": 113.26785340739552,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4974.95432456054,
      "turnover_quote_units": 37755.95113579847,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 15796.603331431063,
      "return_pct": 57.96603331431063,
      "cagr_pct": 58.04853957891609,
      "max_drawdown_pct": 54.15264145687626,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 87.61374486011809,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5826.513600623485,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 15092.495502454785,
      "return_pct": 50.924955024547856,
      "cagr_pct": 50.99592031480535,
      "max_drawdown_pct": 64.15794655999501,
      "mean_exposure_while_solvent": 1.2493579636077161,
      "realized_annual_volatility_pct": 109.77863757980595,
      "trading_costs_quote_units": 207.61304751159852,
      "borrowing_costs_quote_units": 836.3248018720807,
      "price_pnl_quote_units": 6136.433351838496,
      "turnover_quote_units": 69204.34917053282,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13794.536803359919,
      "return_pct": 37.94536803359918,
      "cagr_pct": 37.99605722754752,
      "max_drawdown_pct": 72.41955703539847,
      "mean_exposure_while_solvent": 1.4992902894935043,
      "realized_annual_volatility_pct": 132.10587548125977,
      "trading_costs_quote_units": 458.5241078922627,
      "borrowing_costs_quote_units": 1692.3781753877129,
      "price_pnl_quote_units": 5945.439086639988,
      "turnover_quote_units": 152841.36929742098,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 12687.22844532934,
      "return_pct": 26.872284453293393,
      "cagr_pct": 26.90677631419916,
      "max_drawdown_pct": 29.05387177666561,
      "mean_exposure_while_solvent": 0.500493839813302,
      "realized_annual_volatility_pct": 41.566226012014596,
      "trading_costs_quote_units": 202.7445292212773,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2889.9729745506006,
      "turnover_quote_units": 67581.50974042584,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13389.32439592265,
      "return_pct": 33.89324395922648,
      "cagr_pct": 33.93788338895395,
      "max_drawdown_pct": 41.19319022651027,
      "mean_exposure_while_solvent": 0.7505502491763866,
      "realized_annual_volatility_pct": 62.51057857560701,
      "trading_costs_quote_units": 278.7977567716989,
      "borrowing_costs_quote_units": 3.463520820727568,
      "price_pnl_quote_units": 3671.5856735151083,
      "turnover_quote_units": 92932.5855905664,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13395.628074580112,
      "return_pct": 33.95628074580112,
      "cagr_pct": 34.001013225368034,
      "max_drawdown_pct": 51.85846137092871,
      "mean_exposure_while_solvent": 1.0005978967977718,
      "realized_annual_volatility_pct": 83.61916520616016,
      "trading_costs_quote_units": 384.16836414995237,
      "borrowing_costs_quote_units": 87.48018121622837,
      "price_pnl_quote_units": 3867.276619946283,
      "turnover_quote_units": 128056.12138331754,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 12695.985125236148,
      "return_pct": 26.959851252361467,
      "cagr_pct": 26.99446698893364,
      "max_drawdown_pct": 47.108410974543894,
      "mean_exposure_while_solvent": 0.7809723492260012,
      "realized_annual_volatility_pct": 64.09218501735569,
      "trading_costs_quote_units": 495.48483408414154,
      "borrowing_costs_quote_units": 16.59880107727231,
      "price_pnl_quote_units": 3208.068760397563,
      "turnover_quote_units": 165161.61136138067,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13726.07870385648,
      "return_pct": 37.26078703856479,
      "cagr_pct": 37.31044449414398,
      "max_drawdown_pct": 40.21215617221,
      "mean_exposure_while_solvent": 0.7304899808986962,
      "realized_annual_volatility_pct": 62.72898185246807,
      "trading_costs_quote_units": 180.7313125005163,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3906.810016356998,
      "turnover_quote_units": 60243.77083350542,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13759.782952787478,
      "return_pct": 37.59782952787478,
      "cagr_pct": 37.647994456479566,
      "max_drawdown_pct": 41.063187663226486,
      "mean_exposure_while_solvent": 0.7463979154170155,
      "realized_annual_volatility_pct": 61.98720586347187,
      "trading_costs_quote_units": 236.05107335114937,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3995.834026138627,
      "turnover_quote_units": 78683.6911170497,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 14976.08279128635,
      "return_pct": 49.76082791286349,
      "cagr_pct": 49.82992083218256,
      "max_drawdown_pct": 43.204896092240475,
      "mean_exposure_while_solvent": 0.7490522074796044,
      "realized_annual_volatility_pct": 65.59553029286663,
      "trading_costs_quote_units": 118.73804373535128,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5094.820835021736,
      "turnover_quote_units": 39579.34791178381,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 15744.973758567301,
      "return_pct": 57.449737585673,
      "cagr_pct": 57.53138519739225,
      "max_drawdown_pct": 54.15264145687626,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 87.60935132968588,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5774.884027759721,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 15312.195797486916,
      "return_pct": 53.12195797486916,
      "cagr_pct": 53.196484825273174,
      "max_drawdown_pct": 63.84147874113526,
      "mean_exposure_while_solvent": 1.248307638975782,
      "realized_annual_volatility_pct": 109.7542273300395,
      "trading_costs_quote_units": 218.41410709215575,
      "borrowing_costs_quote_units": 209.59395722478152,
      "price_pnl_quote_units": 5740.203861803845,
      "turnover_quote_units": 72804.70236405195,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 14122.210609698324,
      "return_pct": 41.22210609698325,
      "cagr_pct": 41.277787174572424,
      "max_drawdown_pct": 71.95084788240935,
      "mean_exposure_while_solvent": 1.4981572361906201,
      "realized_annual_volatility_pct": 132.06226437861662,
      "trading_costs_quote_units": 486.3358045803099,
      "borrowing_costs_quote_units": 424.1869567638205,
      "price_pnl_quote_units": 5032.733371042466,
      "turnover_quote_units": 162111.93486010344,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 12687.22844532934,
      "return_pct": 26.872284453293393,
      "cagr_pct": 26.90677631419916,
      "max_drawdown_pct": 29.05387177666561,
      "mean_exposure_while_solvent": 0.500493839813302,
      "realized_annual_volatility_pct": 41.566226012014596,
      "trading_costs_quote_units": 202.7445292212773,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2889.9729745506006,
      "turnover_quote_units": 67581.50974042584,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13386.510480900593,
      "return_pct": 33.86510480900593,
      "cagr_pct": 33.90970271293797,
      "max_drawdown_pct": 41.19411170051948,
      "mean_exposure_while_solvent": 0.750550500607963,
      "realized_annual_volatility_pct": 62.51071333278384,
      "trading_costs_quote_units": 278.7882977256341,
      "borrowing_costs_quote_units": 6.926729049307824,
      "price_pnl_quote_units": 3672.2255076755428,
      "turnover_quote_units": 92929.43257521126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13326.74034616504,
      "return_pct": 33.2674034616504,
      "cagr_pct": 33.311120919918466,
      "max_drawdown_pct": 51.88231227476344,
      "mean_exposure_while_solvent": 1.0006053146917946,
      "realized_annual_volatility_pct": 83.62062417222309,
      "trading_costs_quote_units": 383.55312781884663,
      "borrowing_costs_quote_units": 174.51370439662935,
      "price_pnl_quote_units": 3884.80717838049,
      "turnover_quote_units": 127851.04260628214,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 12682.458154683722,
      "return_pct": 26.824581546837223,
      "cagr_pct": 26.859005954292037,
      "max_drawdown_pct": 47.120720876891866,
      "mean_exposure_while_solvent": 0.7809737951900603,
      "realized_annual_volatility_pct": 64.0925968919498,
      "trading_costs_quote_units": 495.29229413109755,
      "borrowing_costs_quote_units": 33.182414632159,
      "price_pnl_quote_units": 3210.9328634469894,
      "turnover_quote_units": 165097.4313770325,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13726.07870385648,
      "return_pct": 37.26078703856479,
      "cagr_pct": 37.31044449414398,
      "max_drawdown_pct": 40.21215617221,
      "mean_exposure_while_solvent": 0.7304899808986962,
      "realized_annual_volatility_pct": 62.72898185246807,
      "trading_costs_quote_units": 180.7313125005163,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3906.810016356998,
      "turnover_quote_units": 60243.77083350542,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13759.782952787478,
      "return_pct": 37.59782952787478,
      "cagr_pct": 37.647994456479566,
      "max_drawdown_pct": 41.063187663226486,
      "mean_exposure_while_solvent": 0.7463979154170155,
      "realized_annual_volatility_pct": 61.98720586347187,
      "trading_costs_quote_units": 236.05107335114937,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3995.834026138627,
      "turnover_quote_units": 78683.6911170497,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 14976.08279128635,
      "return_pct": 49.76082791286349,
      "cagr_pct": 49.82992083218256,
      "max_drawdown_pct": 43.204896092240475,
      "mean_exposure_while_solvent": 0.7490522074796044,
      "realized_annual_volatility_pct": 65.59553029286663,
      "trading_costs_quote_units": 118.73804373535128,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5094.820835021736,
      "turnover_quote_units": 39579.34791178381,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 15744.973758567301,
      "return_pct": 57.449737585673,
      "cagr_pct": 57.53138519739225,
      "max_drawdown_pct": 54.15264145687626,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 87.60935132968588,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5774.884027759721,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 15122.361224257036,
      "return_pct": 51.22361224257037,
      "cagr_pct": 51.2950595490256,
      "max_drawdown_pct": 63.96244139461793,
      "mean_exposure_while_solvent": 1.248325428448795,
      "realized_annual_volatility_pct": 109.75639984205934,
      "trading_costs_quote_units": 217.37475785008854,
      "borrowing_costs_quote_units": 416.5573205286868,
      "price_pnl_quote_units": 5756.293302635789,
      "turnover_quote_units": 72458.25261669628,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13773.875970857993,
      "return_pct": 37.73875970857994,
      "cagr_pct": 37.78913711090718,
      "max_drawdown_pct": 72.13887179278983,
      "mean_exposure_while_solvent": 1.4981999854950063,
      "realized_annual_volatility_pct": 132.0675373174472,
      "trading_costs_quote_units": 481.48176634336,
      "borrowing_costs_quote_units": 837.9427429403712,
      "price_pnl_quote_units": 5093.3004801417665,
      "turnover_quote_units": 160493.9221144534,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12687.22844532934,
      "return_pct": 26.872284453293393,
      "cagr_pct": 26.90677631419916,
      "max_drawdown_pct": 29.05387177666561,
      "mean_exposure_while_solvent": 0.500493839813302,
      "realized_annual_volatility_pct": 41.566226012014596,
      "trading_costs_quote_units": 202.7445292212773,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2889.9729745506006,
      "turnover_quote_units": 67581.50974042584,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13380.883393915188,
      "return_pct": 33.80883393915188,
      "cagr_pct": 33.853348822751585,
      "max_drawdown_pct": 41.1959549424856,
      "mean_exposure_while_solvent": 0.7505510035245925,
      "realized_annual_volatility_pct": 62.5109830299325,
      "trading_costs_quote_units": 278.7693790178695,
      "borrowing_costs_quote_units": 13.852207449380064,
      "price_pnl_quote_units": 3673.504980382441,
      "turnover_quote_units": 92923.12633928981,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13189.995049310468,
      "return_pct": 31.89995049310468,
      "cagr_pct": 31.9416651747769,
      "max_drawdown_pct": 51.92998923092301,
      "mean_exposure_while_solvent": 1.00062015287938,
      "realized_annual_volatility_pct": 83.62355017228342,
      "trading_costs_quote_units": 382.327915366639,
      "borrowing_costs_quote_units": 347.2494276881179,
      "price_pnl_quote_units": 3919.5723923652376,
      "turnover_quote_units": 127442.63845554656,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12655.44177744746,
      "return_pct": 26.554417774474604,
      "cagr_pct": 26.58846054906298,
      "max_drawdown_pct": 47.14533761545162,
      "mean_exposure_while_solvent": 0.7809766875276867,
      "realized_annual_volatility_pct": 64.09342284320022,
      "trading_costs_quote_units": 494.90751908729754,
      "borrowing_costs_quote_units": 66.30412564409112,
      "price_pnl_quote_units": 3216.6534221788547,
      "turnover_quote_units": 164969.17302909913,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13726.07870385648,
      "return_pct": 37.26078703856479,
      "cagr_pct": 37.31044449414398,
      "max_drawdown_pct": 40.21215617221,
      "mean_exposure_while_solvent": 0.7304899808986962,
      "realized_annual_volatility_pct": 62.72898185246807,
      "trading_costs_quote_units": 180.7313125005163,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3906.810016356998,
      "turnover_quote_units": 60243.77083350542,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13759.782952787478,
      "return_pct": 37.59782952787478,
      "cagr_pct": 37.647994456479566,
      "max_drawdown_pct": 41.063187663226486,
      "mean_exposure_while_solvent": 0.7463979154170155,
      "realized_annual_volatility_pct": 61.98720586347187,
      "trading_costs_quote_units": 236.05107335114937,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 3995.834026138627,
      "turnover_quote_units": 78683.6911170497,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 14976.08279128635,
      "return_pct": 49.76082791286349,
      "cagr_pct": 49.82992083218256,
      "max_drawdown_pct": 43.204896092240475,
      "mean_exposure_while_solvent": 0.7490522074796044,
      "realized_annual_volatility_pct": 65.59553029286663,
      "trading_costs_quote_units": 118.73804373535128,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5094.820835021736,
      "turnover_quote_units": 39579.34791178381,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 15744.973758567301,
      "return_pct": 57.449737585673,
      "cagr_pct": 57.53138519739225,
      "max_drawdown_pct": 54.15264145687626,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 87.60935132968588,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5774.884027759721,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 14749.631277486682,
      "return_pct": 47.49631277486681,
      "cagr_pct": 47.56179319541311,
      "max_drawdown_pct": 64.20322282208186,
      "mean_exposure_while_solvent": 1.2483610128770688,
      "realized_annual_volatility_pct": 109.76074672023981,
      "trading_costs_quote_units": 215.33375305012154,
      "borrowing_costs_quote_units": 822.7214667109355,
      "price_pnl_quote_units": 5787.686497247771,
      "turnover_quote_units": 71777.91768337385,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13102.569223283554,
      "return_pct": 31.02569223283553,
      "cagr_pct": 31.066134959341213,
      "max_drawdown_pct": 72.51127694292259,
      "mean_exposure_while_solvent": 1.4982855026844357,
      "realized_annual_volatility_pct": 132.0780886978289,
      "trading_costs_quote_units": 472.0302759340859,
      "borrowing_costs_quote_units": 1635.179183533438,
      "price_pnl_quote_units": 5209.778682751024,
      "turnover_quote_units": 157343.42531136182,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 14595.058299076296,
      "return_pct": 45.95058299076295,
      "cagr_pct": 46.01362036635153,
      "max_drawdown_pct": 45.91268690786268,
      "mean_exposure_while_solvent": 0.7042782572380236,
      "realized_annual_volatility_pct": 67.70903324242707,
      "trading_costs_quote_units": 66.6414065664695,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4661.6997056427535,
      "turnover_quote_units": 111069.01094411589,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 14195.370503077904,
      "return_pct": 41.95370503077904,
      "cagr_pct": 42.010512596739005,
      "max_drawdown_pct": 48.74826078436807,
      "mean_exposure_while_solvent": 0.8578660429202127,
      "realized_annual_volatility_pct": 76.09485299430683,
      "trading_costs_quote_units": 56.36836244892036,
      "borrowing_costs_quote_units": 3.268443623092098,
      "price_pnl_quote_units": 4255.007309149898,
      "turnover_quote_units": 93947.27074820072,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13449.038122028342,
      "return_pct": 34.4903812202834,
      "cagr_pct": 34.5359034560327,
      "max_drawdown_pct": 54.16933863631528,
      "mean_exposure_while_solvent": 1.0115563975281388,
      "realized_annual_volatility_pct": 86.56117105566065,
      "trading_costs_quote_units": 64.82532613455297,
      "borrowing_costs_quote_units": 63.87600659799543,
      "price_pnl_quote_units": 3577.7394547608837,
      "turnover_quote_units": 108042.21022425503,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13973.968394880976,
      "return_pct": 39.739683948809756,
      "cagr_pct": 39.793095764298556,
      "max_drawdown_pct": 45.27404686849973,
      "mean_exposure_while_solvent": 0.8299000094812227,
      "realized_annual_volatility_pct": 68.5016813894187,
      "trading_costs_quote_units": 102.71750490369993,
      "borrowing_costs_quote_units": 17.720760204091306,
      "price_pnl_quote_units": 4094.40665998877,
      "turnover_quote_units": 171195.8415061665,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 302,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 15451.03040955739,
      "return_pct": 54.51030409557389,
      "cagr_pct": 54.58710021979554,
      "max_drawdown_pct": 49.57465235389288,
      "mean_exposure_while_solvent": 0.936268132654398,
      "realized_annual_volatility_pct": 83.9536164881377,
      "trading_costs_quote_units": 26.19783865116277,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5477.228248208534,
      "turnover_quote_units": 43663.064418604656,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 92,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 14484.678716839744,
      "return_pct": 44.84678716839745,
      "cagr_pct": 44.90809143007958,
      "max_drawdown_pct": 48.51032692867536,
      "mean_exposure_while_solvent": 0.8542093983150086,
      "realized_annual_volatility_pct": 75.75766411026964,
      "trading_costs_quote_units": 48.741901813602,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4533.420618653339,
      "turnover_quote_units": 81236.50302266992,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 195,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 14992.365324689014,
      "return_pct": 49.92365324689014,
      "cagr_pct": 49.99300743209528,
      "max_drawdown_pct": 43.09527347095031,
      "mean_exposure_while_solvent": 0.7497912302472649,
      "realized_annual_volatility_pct": 65.44330370750583,
      "trading_costs_quote_units": 22.65800058919805,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5015.023325278222,
      "turnover_quote_units": 37763.334315330045,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 15876.494816804665,
      "return_pct": 58.76494816804665,
      "cagr_pct": 58.8487869126364,
      "max_drawdown_pct": 54.115788558298625,
      "mean_exposure_while_solvent": 0.9995423340961098,
      "realized_annual_volatility_pct": 87.42152142386928,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5882.491218963351,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 15903.722170557798,
      "return_pct": 59.03722170557797,
      "cagr_pct": 59.12151561687238,
      "max_drawdown_pct": 63.691146842009275,
      "mean_exposure_while_solvent": 1.2493416353557818,
      "realized_annual_volatility_pct": 109.53144041174998,
      "trading_costs_quote_units": 42.27945215257656,
      "borrowing_costs_quote_units": 215.34171764621945,
      "price_pnl_quote_units": 6161.343340356585,
      "turnover_quote_units": 70465.75358762764,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 15293.38428724348,
      "return_pct": 52.93384287243479,
      "cagr_pct": 53.00806335058144,
      "max_drawdown_pct": 71.6962467535288,
      "mean_exposure_while_solvent": 1.4992512853642017,
      "realized_annual_volatility_pct": 131.79986946132755,
      "trading_costs_quote_units": 95.56219092990312,
      "borrowing_costs_quote_units": 447.2598738504444,
      "price_pnl_quote_units": 5836.2063520238735,
      "turnover_quote_units": 159270.3182165052,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14595.058299076296,
      "return_pct": 45.95058299076295,
      "cagr_pct": 46.01362036635153,
      "max_drawdown_pct": 45.91268690786268,
      "mean_exposure_while_solvent": 0.7042782572380236,
      "realized_annual_volatility_pct": 67.70903324242707,
      "trading_costs_quote_units": 66.6414065664695,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4661.6997056427535,
      "turnover_quote_units": 111069.01094411589,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14192.754216729887,
      "return_pct": 41.92754216729888,
      "cagr_pct": 41.984309374180214,
      "max_drawdown_pct": 48.749212035544765,
      "mean_exposure_while_solvent": 0.8578662636330532,
      "realized_annual_volatility_pct": 76.09495003858883,
      "trading_costs_quote_units": 56.36698943113917,
      "borrowing_costs_quote_units": 6.536681100253869,
      "price_pnl_quote_units": 4255.657887261279,
      "turnover_quote_units": 93944.98238523194,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13399.237849985484,
      "return_pct": 33.99237849985484,
      "cagr_pct": 34.03716427930422,
      "max_drawdown_pct": 54.18259813872896,
      "mean_exposure_while_solvent": 1.011561952853741,
      "realized_annual_volatility_pct": 86.56234084619719,
      "trading_costs_quote_units": 64.75312394564862,
      "borrowing_costs_quote_units": 127.52534140285668,
      "price_pnl_quote_units": 3591.516315333997,
      "turnover_quote_units": 107921.87324274775,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13958.66213672113,
      "return_pct": 39.58662136721129,
      "cagr_pct": 39.63979989886441,
      "max_drawdown_pct": 45.28614045625371,
      "mean_exposure_while_solvent": 0.829901518818458,
      "realized_annual_volatility_pct": 68.50209997448883,
      "trading_costs_quote_units": 102.67612822487315,
      "borrowing_costs_quote_units": 35.42437402833979,
      "price_pnl_quote_units": 4096.762638974342,
      "turnover_quote_units": 171126.88037478866,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 302,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 15451.03040955739,
      "return_pct": 54.51030409557389,
      "cagr_pct": 54.58710021979554,
      "max_drawdown_pct": 49.57465235389288,
      "mean_exposure_while_solvent": 0.936268132654398,
      "realized_annual_volatility_pct": 83.9536164881377,
      "trading_costs_quote_units": 26.19783865116277,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5477.228248208534,
      "turnover_quote_units": 43663.064418604656,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 92,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14484.678716839744,
      "return_pct": 44.84678716839745,
      "cagr_pct": 44.90809143007958,
      "max_drawdown_pct": 48.51032692867536,
      "mean_exposure_while_solvent": 0.8542093983150086,
      "realized_annual_volatility_pct": 75.75766411026964,
      "trading_costs_quote_units": 48.741901813602,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4533.420618653339,
      "turnover_quote_units": 81236.50302266992,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 195,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14992.365324689014,
      "return_pct": 49.92365324689014,
      "cagr_pct": 49.99300743209528,
      "max_drawdown_pct": 43.09527347095031,
      "mean_exposure_while_solvent": 0.7497912302472649,
      "realized_annual_volatility_pct": 65.44330370750583,
      "trading_costs_quote_units": 22.65800058919805,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5015.023325278222,
      "turnover_quote_units": 37763.334315330045,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 15876.494816804665,
      "return_pct": 58.76494816804665,
      "cagr_pct": 58.8487869126364,
      "max_drawdown_pct": 54.115788558298625,
      "mean_exposure_while_solvent": 0.9995423340961098,
      "realized_annual_volatility_pct": 87.42152142386928,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5882.491218963351,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 15706.437281361075,
      "return_pct": 57.064372813610746,
      "cagr_pct": 57.1453807860276,
      "max_drawdown_pct": 63.812624467579504,
      "mean_exposure_while_solvent": 1.2493597673571497,
      "realized_annual_volatility_pct": 109.533664348748,
      "trading_costs_quote_units": 42.079742848199935,
      "borrowing_costs_quote_units": 427.96892807022493,
      "price_pnl_quote_units": 6176.485952279534,
      "turnover_quote_units": 70132.90474699979,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14916.040332316235,
      "return_pct": 49.16040332316236,
      "cagr_pct": 49.22853456653046,
      "max_drawdown_pct": 71.88598220193487,
      "mean_exposure_while_solvent": 1.4992948401213269,
      "realized_annual_volatility_pct": 131.80525710441805,
      "trading_costs_quote_units": 94.58523725196133,
      "borrowing_costs_quote_units": 883.4307302225935,
      "price_pnl_quote_units": 5894.0562997907455,
      "turnover_quote_units": 157642.062086602,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 14595.058299076296,
      "return_pct": 45.95058299076295,
      "cagr_pct": 46.01362036635153,
      "max_drawdown_pct": 45.91268690786268,
      "mean_exposure_while_solvent": 0.7042782572380236,
      "realized_annual_volatility_pct": 67.70903324242707,
      "trading_costs_quote_units": 66.6414065664695,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4661.6997056427535,
      "turnover_quote_units": 111069.01094411589,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 14187.522134163626,
      "return_pct": 41.87522134163626,
      "cagr_pct": 41.93190785446916,
      "max_drawdown_pct": 48.7511148371911,
      "mean_exposure_while_solvent": 0.8578667051053357,
      "realized_annual_volatility_pct": 76.09514425570806,
      "trading_costs_quote_units": 56.364243267864424,
      "borrowing_costs_quote_units": 13.072537346366298,
      "price_pnl_quote_units": 4256.9589147778515,
      "turnover_quote_units": 93940.40544644071,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13300.166579303286,
      "return_pct": 33.001665793032856,
      "cagr_pct": 33.04499278946854,
      "max_drawdown_pct": 54.209113385315646,
      "mean_exposure_while_solvent": 1.0115730654212023,
      "realized_annual_volatility_pct": 86.56468756173066,
      "trading_costs_quote_units": 64.60910591778101,
      "borrowing_costs_quote_units": 254.14702645283364,
      "price_pnl_quote_units": 3618.922711673889,
      "turnover_quote_units": 107681.84319630159,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13928.092575661893,
      "return_pct": 39.28092575661892,
      "cagr_pct": 39.333638950080044,
      "max_drawdown_pct": 45.31032534245378,
      "mean_exposure_while_solvent": 0.82990453792604,
      "realized_annual_volatility_pct": 68.50293927927432,
      "trading_costs_quote_units": 102.59453732221837,
      "borrowing_costs_quote_units": 70.78021378494148,
      "price_pnl_quote_units": 4101.467326769031,
      "turnover_quote_units": 170990.8955370308,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 302,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 15451.03040955739,
      "return_pct": 54.51030409557389,
      "cagr_pct": 54.58710021979554,
      "max_drawdown_pct": 49.57465235389288,
      "mean_exposure_while_solvent": 0.936268132654398,
      "realized_annual_volatility_pct": 83.9536164881377,
      "trading_costs_quote_units": 26.19783865116277,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5477.228248208534,
      "turnover_quote_units": 43663.064418604656,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 92,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 14484.678716839744,
      "return_pct": 44.84678716839745,
      "cagr_pct": 44.90809143007958,
      "max_drawdown_pct": 48.51032692867536,
      "mean_exposure_while_solvent": 0.8542093983150086,
      "realized_annual_volatility_pct": 75.75766411026964,
      "trading_costs_quote_units": 48.741901813602,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4533.420618653339,
      "turnover_quote_units": 81236.50302266992,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 195,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 14992.365324689014,
      "return_pct": 49.92365324689014,
      "cagr_pct": 49.99300743209528,
      "max_drawdown_pct": 43.09527347095031,
      "mean_exposure_while_solvent": 0.7497912302472649,
      "realized_annual_volatility_pct": 65.44330370750583,
      "trading_costs_quote_units": 22.65800058919805,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5015.023325278222,
      "turnover_quote_units": 37763.334315330045,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 15876.494816804665,
      "return_pct": 58.76494816804665,
      "cagr_pct": 58.8487869126364,
      "max_drawdown_pct": 54.115788558298625,
      "mean_exposure_while_solvent": 0.9995423340961098,
      "realized_annual_volatility_pct": 87.42152142386928,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5882.491218963351,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 15319.089999946556,
      "return_pct": 53.19089999946556,
      "cagr_pct": 53.265539197998855,
      "max_drawdown_pct": 64.0544170231285,
      "mean_exposure_while_solvent": 1.2493960371864048,
      "realized_annual_volatility_pct": 109.5381132284412,
      "trading_costs_quote_units": 41.68836818266265,
      "borrowing_costs_quote_units": 845.2137143675203,
      "price_pnl_quote_units": 6205.992082496741,
      "turnover_quote_units": 69480.61363777104,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 14188.850835264893,
      "return_pct": 41.88850835264893,
      "cagr_pct": 41.94521535585683,
      "max_drawdown_pct": 72.26175161979411,
      "mean_exposure_while_solvent": 1.4993819693238688,
      "realized_annual_volatility_pct": 131.81603579710742,
      "trading_costs_quote_units": 92.6849217628322,
      "borrowing_costs_quote_units": 1723.5933748058585,
      "price_pnl_quote_units": 6005.129131833576,
      "turnover_quote_units": 154474.86960472012,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 14282.723571693474,
      "return_pct": 42.827235716934744,
      "cagr_pct": 42.88539395960844,
      "max_drawdown_pct": 45.461354780248364,
      "mean_exposure_while_solvent": 0.703916072297015,
      "realized_annual_volatility_pct": 68.05590886876595,
      "trading_costs_quote_units": 65.73673206462585,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4348.460303758087,
      "turnover_quote_units": 109561.22010770979,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13878.844786837517,
      "return_pct": 38.788447868375165,
      "cagr_pct": 38.84041301334158,
      "max_drawdown_pct": 48.473025780058634,
      "mean_exposure_while_solvent": 0.8570785421230599,
      "realized_annual_volatility_pct": 76.36374411427342,
      "trading_costs_quote_units": 55.79183915430929,
      "borrowing_costs_quote_units": 3.16933135215343,
      "price_pnl_quote_units": 3937.80595734399,
      "turnover_quote_units": 92986.39859051554,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13062.950448966278,
      "return_pct": 30.62950448966277,
      "cagr_pct": 30.66937299822527,
      "max_drawdown_pct": 53.78011831429694,
      "mean_exposure_while_solvent": 1.0101933858360201,
      "realized_annual_volatility_pct": 86.79101437827185,
      "trading_costs_quote_units": 63.5266497241015,
      "borrowing_costs_quote_units": 62.08984356425665,
      "price_pnl_quote_units": 3188.566942254636,
      "turnover_quote_units": 105877.74954016916,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 14204.178548490687,
      "return_pct": 42.04178548490687,
      "cagr_pct": 42.098728965137084,
      "max_drawdown_pct": 45.11456551801839,
      "mean_exposure_while_solvent": 0.8283674058425612,
      "realized_annual_volatility_pct": 68.8398562673513,
      "trading_costs_quote_units": 105.57602575964661,
      "borrowing_costs_quote_units": 17.636350267090744,
      "price_pnl_quote_units": 4327.390924517422,
      "turnover_quote_units": 175960.04293274446,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 305,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 15330.996170247481,
      "return_pct": 53.309961702474816,
      "cagr_pct": 53.38479500788116,
      "max_drawdown_pct": 49.48052961940014,
      "mean_exposure_while_solvent": 0.9355240920430969,
      "realized_annual_volatility_pct": 84.0071198681436,
      "trading_costs_quote_units": 26.552052084194763,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5357.548222331669,
      "turnover_quote_units": 44253.42014032465,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 94,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 14113.469802533535,
      "return_pct": 41.13469802533534,
      "cagr_pct": 41.190244804755174,
      "max_drawdown_pct": 48.333657350135425,
      "mean_exposure_while_solvent": 0.8534358789380704,
      "realized_annual_volatility_pct": 76.0291742957031,
      "trading_costs_quote_units": 48.460311961673014,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4161.93011449519,
      "turnover_quote_units": 80767.1866027883,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 198,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 15105.567452406687,
      "return_pct": 51.05567452406687,
      "cagr_pct": 51.126850705236635,
      "max_drawdown_pct": 43.09115922523426,
      "mean_exposure_while_solvent": 0.7490447926355691,
      "realized_annual_volatility_pct": 65.44595079407311,
      "trading_costs_quote_units": 23.781632227787068,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5129.349084634446,
      "turnover_quote_units": 39636.05371297848,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 15824.364888882545,
      "return_pct": 58.24364888882545,
      "cagr_pct": 58.326617655146485,
      "max_drawdown_pct": 54.115788558298625,
      "mean_exposure_while_solvent": 0.9986270022883296,
      "realized_annual_volatility_pct": 87.41726488183312,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5830.361291041219,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 15560.976285411612,
      "return_pct": 55.60976285411612,
      "cagr_pct": 55.68836619301643,
      "max_drawdown_pct": 63.69976755929606,
      "mean_exposure_while_solvent": 1.2483112489886083,
      "realized_annual_volatility_pct": 109.52059740799444,
      "trading_costs_quote_units": 43.934822172404665,
      "borrowing_costs_quote_units": 211.97652308763043,
      "price_pnl_quote_units": 5816.887630671622,
      "turnover_quote_units": 73224.70362067438,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 14570.134587655124,
      "return_pct": 45.70134587655124,
      "cagr_pct": 45.76399107777142,
      "max_drawdown_pct": 71.71867193587966,
      "mean_exposure_while_solvent": 1.498169553671783,
      "realized_annual_volatility_pct": 131.78802725360265,
      "trading_costs_quote_units": 98.57615260202623,
      "borrowing_costs_quote_units": 432.8934415140211,
      "price_pnl_quote_units": 5101.604181771161,
      "turnover_quote_units": 164293.5876700436,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 14282.723571693474,
      "return_pct": 42.827235716934744,
      "cagr_pct": 42.88539395960844,
      "max_drawdown_pct": 45.461354780248364,
      "mean_exposure_while_solvent": 0.703916072297015,
      "realized_annual_volatility_pct": 68.05590886876595,
      "trading_costs_quote_units": 65.73673206462585,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4348.460303758087,
      "turnover_quote_units": 109561.22010770979,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13876.29399481371,
      "return_pct": 38.76293994813711,
      "cagr_pct": 38.814866402273815,
      "max_drawdown_pct": 48.4739674961064,
      "mean_exposure_while_solvent": 0.8570787620591013,
      "realized_annual_volatility_pct": 76.36382545245793,
      "trading_costs_quote_units": 55.790497754113176,
      "borrowing_costs_quote_units": 6.338464561052156,
      "price_pnl_quote_units": 3938.422957128881,
      "turnover_quote_units": 92984.16292352193,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13014.718395852895,
      "return_pct": 30.147183958528956,
      "cagr_pct": 30.18635526725163,
      "max_drawdown_pct": 53.79371210161328,
      "mean_exposure_while_solvent": 1.0101987871965794,
      "realized_annual_volatility_pct": 86.7922433046568,
      "trading_costs_quote_units": 63.46102370146405,
      "borrowing_costs_quote_units": 123.959929880728,
      "price_pnl_quote_units": 3202.1393494350905,
      "turnover_quote_units": 105768.37283577344,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 14188.796519202098,
      "return_pct": 41.887965192020985,
      "cagr_pct": 41.944671357573554,
      "max_drawdown_pct": 45.127392202487584,
      "mean_exposure_while_solvent": 0.8283688820911757,
      "realized_annual_volatility_pct": 68.8402742687589,
      "trading_costs_quote_units": 105.53411586245883,
      "borrowing_costs_quote_units": 35.255694468331285,
      "price_pnl_quote_units": 4329.5863295328745,
      "turnover_quote_units": 175890.19310409794,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 305,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 15330.996170247481,
      "return_pct": 53.309961702474816,
      "cagr_pct": 53.38479500788116,
      "max_drawdown_pct": 49.48052961940014,
      "mean_exposure_while_solvent": 0.9355240920430969,
      "realized_annual_volatility_pct": 84.0071198681436,
      "trading_costs_quote_units": 26.552052084194763,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5357.548222331669,
      "turnover_quote_units": 44253.42014032465,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 94,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 14113.469802533535,
      "return_pct": 41.13469802533534,
      "cagr_pct": 41.190244804755174,
      "max_drawdown_pct": 48.333657350135425,
      "mean_exposure_while_solvent": 0.8534358789380704,
      "realized_annual_volatility_pct": 76.0291742957031,
      "trading_costs_quote_units": 48.460311961673014,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4161.93011449519,
      "turnover_quote_units": 80767.1866027883,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 198,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 15105.567452406687,
      "return_pct": 51.05567452406687,
      "cagr_pct": 51.126850705236635,
      "max_drawdown_pct": 43.09115922523426,
      "mean_exposure_while_solvent": 0.7490447926355691,
      "realized_annual_volatility_pct": 65.44595079407311,
      "trading_costs_quote_units": 23.781632227787068,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5129.349084634446,
      "turnover_quote_units": 39636.05371297848,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 15824.364888882545,
      "return_pct": 58.24364888882545,
      "cagr_pct": 58.326617655146485,
      "max_drawdown_pct": 54.115788558298625,
      "mean_exposure_while_solvent": 0.9986270022883296,
      "realized_annual_volatility_pct": 87.41726488183312,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5830.361291041219,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 15368.058381380735,
      "return_pct": 53.68058381380736,
      "cagr_pct": 53.75602202296703,
      "max_drawdown_pct": 63.82114238330975,
      "mean_exposure_while_solvent": 1.2483290078419849,
      "realized_annual_volatility_pct": 109.52274636973651,
      "trading_costs_quote_units": 43.7246424205026,
      "borrowing_costs_quote_units": 421.2880756430766,
      "price_pnl_quote_units": 5833.071099444317,
      "turnover_quote_units": 72874.40403417111,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 14210.778515536389,
      "return_pct": 42.107785155363885,
      "cagr_pct": 42.164830518626154,
      "max_drawdown_pct": 71.90812189405135,
      "mean_exposure_while_solvent": 1.498212229621701,
      "realized_annual_volatility_pct": 131.79324258598274,
      "trading_costs_quote_units": 97.58497539074665,
      "borrowing_costs_quote_units": 855.099638233169,
      "price_pnl_quote_units": 5163.4631291602755,
      "turnover_quote_units": 162641.6256512443,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 14282.723571693474,
      "return_pct": 42.827235716934744,
      "cagr_pct": 42.88539395960844,
      "max_drawdown_pct": 45.461354780248364,
      "mean_exposure_while_solvent": 0.703916072297015,
      "realized_annual_volatility_pct": 68.05590886876595,
      "trading_costs_quote_units": 65.73673206462585,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4348.460303758087,
      "turnover_quote_units": 109561.22010770979,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13871.19288510473,
      "return_pct": 38.711928851047304,
      "cagr_pct": 38.76377794680773,
      "max_drawdown_pct": 48.475851224803655,
      "mean_exposure_while_solvent": 0.857079201977677,
      "realized_annual_volatility_pct": 76.36398825869749,
      "trading_costs_quote_units": 55.78781482817578,
      "borrowing_costs_quote_units": 12.676136285897684,
      "price_pnl_quote_units": 3939.6568362188004,
      "turnover_quote_units": 92979.69138029296,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12918.76576973267,
      "return_pct": 29.187657697326696,
      "cagr_pct": 29.225448086331944,
      "max_drawdown_pct": 53.82089420305958,
      "mean_exposure_while_solvent": 1.0102095917268337,
      "realized_annual_volatility_pct": 86.79470858741077,
      "trading_costs_quote_units": 63.33012365736977,
      "borrowing_costs_quote_units": 247.04376091812748,
      "price_pnl_quote_units": 3229.1396543081682,
      "turnover_quote_units": 105550.20609561626,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 14158.075975072514,
      "return_pct": 41.58075975072513,
      "cagr_pct": 41.63699252934749,
      "max_drawdown_pct": 45.15304235166673,
      "mean_exposure_while_solvent": 0.8283718350077107,
      "realized_annual_volatility_pct": 68.84111237886877,
      "trading_costs_quote_units": 105.45036585769064,
      "borrowing_costs_quote_units": 70.44341888687137,
      "price_pnl_quote_units": 4333.969759817128,
      "turnover_quote_units": 175750.60976281785,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 305,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 15330.996170247481,
      "return_pct": 53.309961702474816,
      "cagr_pct": 53.38479500788116,
      "max_drawdown_pct": 49.48052961940014,
      "mean_exposure_while_solvent": 0.9355240920430969,
      "realized_annual_volatility_pct": 84.0071198681436,
      "trading_costs_quote_units": 26.552052084194763,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5357.548222331669,
      "turnover_quote_units": 44253.42014032465,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 94,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 14113.469802533535,
      "return_pct": 41.13469802533534,
      "cagr_pct": 41.190244804755174,
      "max_drawdown_pct": 48.333657350135425,
      "mean_exposure_while_solvent": 0.8534358789380704,
      "realized_annual_volatility_pct": 76.0291742957031,
      "trading_costs_quote_units": 48.460311961673014,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4161.93011449519,
      "turnover_quote_units": 80767.1866027883,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 198,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 15105.567452406687,
      "return_pct": 51.05567452406687,
      "cagr_pct": 51.126850705236635,
      "max_drawdown_pct": 43.09115922523426,
      "mean_exposure_while_solvent": 0.7490447926355691,
      "realized_annual_volatility_pct": 65.44595079407311,
      "trading_costs_quote_units": 23.781632227787068,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5129.349084634446,
      "turnover_quote_units": 39636.05371297848,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 15824.364888882545,
      "return_pct": 58.24364888882545,
      "cagr_pct": 58.326617655146485,
      "max_drawdown_pct": 54.115788558298625,
      "mean_exposure_while_solvent": 0.9986270022883296,
      "realized_annual_volatility_pct": 87.41726488183312,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5830.361291041219,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 14989.284912843657,
      "return_pct": 49.892849128436566,
      "cagr_pct": 49.96215387052143,
      "max_drawdown_pct": 64.06272948483307,
      "mean_exposure_while_solvent": 1.248364531014332,
      "realized_annual_volatility_pct": 109.52704522324792,
      "trading_costs_quote_units": 43.30911138619126,
      "borrowing_costs_quote_units": 832.0475861299815,
      "price_pnl_quote_units": 5864.641610359808,
      "turnover_quote_units": 72181.85231031883,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13518.252076259181,
      "return_pct": 35.18252076259181,
      "cagr_pct": 35.2290700490952,
      "max_drawdown_pct": 72.28332563068523,
      "mean_exposure_while_solvent": 1.4982976000482602,
      "realized_annual_volatility_pct": 131.8036765176597,
      "trading_costs_quote_units": 95.64805326582287,
      "borrowing_costs_quote_units": 1668.4971117800997,
      "price_pnl_quote_units": 5282.397241305088,
      "turnover_quote_units": 159413.42210970467,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 14309.314554073222,
      "return_pct": 43.09314554073222,
      "cagr_pct": 43.15171615532803,
      "max_drawdown_pct": 45.99976509935419,
      "mean_exposure_while_solvent": 0.7042782572380236,
      "realized_annual_volatility_pct": 67.71482863735358,
      "trading_costs_quote_units": 329.7810120226281,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4639.095566095838,
      "turnover_quote_units": 109927.00400754278,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13965.493229716136,
      "return_pct": 39.65493229716135,
      "cagr_pct": 39.70821491831053,
      "max_drawdown_pct": 48.80130621908331,
      "mean_exposure_while_solvent": 0.8578660429202127,
      "realized_annual_volatility_pct": 76.0960557595099,
      "trading_costs_quote_units": 279.393402887411,
      "borrowing_costs_quote_units": 3.2236866362941066,
      "price_pnl_quote_units": 4248.110319239833,
      "turnover_quote_units": 93131.13429580374,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13209.718977725432,
      "return_pct": 32.09718977725431,
      "cagr_pct": 32.139192339515034,
      "max_drawdown_pct": 54.35424634711337,
      "mean_exposure_while_solvent": 1.0115563975281388,
      "realized_annual_volatility_pct": 86.56580737779377,
      "trading_costs_quote_units": 321.0062723757973,
      "borrowing_costs_quote_units": 63.03729132156724,
      "price_pnl_quote_units": 3593.762541422793,
      "turnover_quote_units": 107002.09079193234,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13567.510122505239,
      "return_pct": 35.67510122505237,
      "cagr_pct": 35.72238391094754,
      "max_drawdown_pct": 45.62996145588809,
      "mean_exposure_while_solvent": 0.8299000094812227,
      "realized_annual_volatility_pct": 68.50349762713535,
      "trading_costs_quote_units": 505.5715909152217,
      "borrowing_costs_quote_units": 17.385703977744274,
      "price_pnl_quote_units": 4090.467417398195,
      "turnover_quote_units": 168523.86363840738,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 302,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 15335.455796471173,
      "return_pct": 53.35455796471174,
      "cagr_pct": 53.429464002854886,
      "max_drawdown_pct": 49.61843389642665,
      "mean_exposure_while_solvent": 0.936268132654398,
      "realized_annual_volatility_pct": 83.95443004395283,
      "trading_costs_quote_units": 130.43937406421483,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5465.895170535371,
      "turnover_quote_units": 43479.79135473825,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 92,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 14275.90513190223,
      "return_pct": 42.75905131902229,
      "cagr_pct": 42.817103912772325,
      "max_drawdown_pct": 48.54594169334702,
      "mean_exposure_while_solvent": 0.8542093983150086,
      "realized_annual_volatility_pct": 75.75866553298282,
      "trading_costs_quote_units": 241.83299025120044,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4517.738122153428,
      "turnover_quote_units": 80610.99675040011,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 195,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 14890.344908305675,
      "return_pct": 48.90344908305675,
      "cagr_pct": 48.97116961725226,
      "max_drawdown_pct": 43.186934294435716,
      "mean_exposure_while_solvent": 0.7497912302472649,
      "realized_annual_volatility_pct": 65.44557715596537,
      "trading_costs_quote_units": 112.85913058554902,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5003.204038891239,
      "turnover_quote_units": 37619.710195183034,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 15838.505198100447,
      "return_pct": 58.38505198100448,
      "cagr_pct": 58.46825653613577,
      "max_drawdown_pct": 54.115788558298625,
      "mean_exposure_while_solvent": 0.9995423340961098,
      "realized_annual_volatility_pct": 87.42207336499658,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5868.415467292891,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 15723.621107340985,
      "return_pct": 57.23621107340986,
      "cagr_pct": 57.317504134345775,
      "max_drawdown_pct": 63.789995314648685,
      "mean_exposure_while_solvent": 1.2493416353557818,
      "realized_annual_volatility_pct": 109.53585874026643,
      "trading_costs_quote_units": 210.01491386705354,
      "borrowing_costs_quote_units": 213.6978258314822,
      "price_pnl_quote_units": 6147.3338470394965,
      "turnover_quote_units": 70004.97128901779,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 14934.077781694175,
      "return_pct": 49.34077781694175,
      "cagr_pct": 49.409197668874285,
      "max_drawdown_pct": 71.88219096851522,
      "mean_exposure_while_solvent": 1.4992512853642017,
      "realized_annual_volatility_pct": 131.81044730841202,
      "trading_costs_quote_units": 471.74794402799284,
      "borrowing_costs_quote_units": 440.77420570891127,
      "price_pnl_quote_units": 5846.5999314310875,
      "turnover_quote_units": 157249.31467599774,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14309.314554073222,
      "return_pct": 43.09314554073222,
      "cagr_pct": 43.15171615532803,
      "max_drawdown_pct": 45.99976509935419,
      "mean_exposure_while_solvent": 0.7042782572380236,
      "realized_annual_volatility_pct": 67.71482863735358,
      "trading_costs_quote_units": 329.7810120226281,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4639.095566095838,
      "turnover_quote_units": 109927.00400754278,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13962.917720061123,
      "return_pct": 39.62917720061123,
      "cagr_pct": 39.68242057267247,
      "max_drawdown_pct": 48.80225673080317,
      "mean_exposure_while_solvent": 0.8578662636330532,
      "realized_annual_volatility_pct": 76.09615276924272,
      "trading_costs_quote_units": 279.3866525078753,
      "borrowing_costs_quote_units": 6.447170175509151,
      "price_pnl_quote_units": 4248.751542744501,
      "turnover_quote_units": 93128.8841692917,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13160.807357545666,
      "return_pct": 31.60807357545665,
      "cagr_pct": 31.649362867297505,
      "max_drawdown_pct": 54.3674613658905,
      "mean_exposure_while_solvent": 1.011561952853741,
      "realized_annual_volatility_pct": 86.56698619465598,
      "trading_costs_quote_units": 320.65102840770567,
      "borrowing_costs_quote_units": 125.85144068818045,
      "price_pnl_quote_units": 3607.309826641566,
      "turnover_quote_units": 106883.67613590191,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13552.642015130212,
      "return_pct": 35.52642015130212,
      "cagr_pct": 35.57348125118583,
      "max_drawdown_pct": 45.64201112435753,
      "mean_exposure_while_solvent": 0.829901518818458,
      "realized_annual_volatility_pct": 68.50392067749146,
      "trading_costs_quote_units": 505.3693763065786,
      "borrowing_costs_quote_units": 34.75465147565423,
      "price_pnl_quote_units": 4092.766042912442,
      "turnover_quote_units": 168456.45876885942,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 302,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 15335.455796471173,
      "return_pct": 53.35455796471174,
      "cagr_pct": 53.429464002854886,
      "max_drawdown_pct": 49.61843389642665,
      "mean_exposure_while_solvent": 0.936268132654398,
      "realized_annual_volatility_pct": 83.95443004395283,
      "trading_costs_quote_units": 130.43937406421483,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5465.895170535371,
      "turnover_quote_units": 43479.79135473825,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 92,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14275.90513190223,
      "return_pct": 42.75905131902229,
      "cagr_pct": 42.817103912772325,
      "max_drawdown_pct": 48.54594169334702,
      "mean_exposure_while_solvent": 0.8542093983150086,
      "realized_annual_volatility_pct": 75.75866553298282,
      "trading_costs_quote_units": 241.83299025120044,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4517.738122153428,
      "turnover_quote_units": 80610.99675040011,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 195,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14890.344908305675,
      "return_pct": 48.90344908305675,
      "cagr_pct": 48.97116961725226,
      "max_drawdown_pct": 43.186934294435716,
      "mean_exposure_while_solvent": 0.7497912302472649,
      "realized_annual_volatility_pct": 65.44557715596537,
      "trading_costs_quote_units": 112.85913058554902,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5003.204038891239,
      "turnover_quote_units": 37619.710195183034,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 15838.505198100447,
      "return_pct": 58.38505198100448,
      "cagr_pct": 58.46825653613577,
      "max_drawdown_pct": 54.115788558298625,
      "mean_exposure_while_solvent": 0.9995423340961098,
      "realized_annual_volatility_pct": 87.42207336499658,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5868.415467292891,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 15528.543647491902,
      "return_pct": 55.28543647491902,
      "cagr_pct": 55.363505781540056,
      "max_drawdown_pct": 63.91122734918389,
      "mean_exposure_while_solvent": 1.2493597673571497,
      "realized_annual_volatility_pct": 109.53810572410221,
      "trading_costs_quote_units": 209.02733886175625,
      "borrowing_costs_quote_units": 424.70541020682276,
      "price_pnl_quote_units": 6162.276396560469,
      "turnover_quote_units": 69675.77962058535,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 14565.517348643301,
      "return_pct": 45.65517348643302,
      "cagr_pct": 45.717746088956716,
      "max_drawdown_pct": 72.07085201905295,
      "mean_exposure_while_solvent": 1.4992948401213269,
      "realized_annual_volatility_pct": 131.8158922160807,
      "trading_costs_quote_units": 466.95325014830394,
      "borrowing_costs_quote_units": 870.6561683455765,
      "price_pnl_quote_units": 5903.126767137229,
      "turnover_quote_units": 155651.08338276803,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 14309.314554073222,
      "return_pct": 43.09314554073222,
      "cagr_pct": 43.15171615532803,
      "max_drawdown_pct": 45.99976509935419,
      "mean_exposure_while_solvent": 0.7042782572380236,
      "realized_annual_volatility_pct": 67.71482863735358,
      "trading_costs_quote_units": 329.7810120226281,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4639.095566095838,
      "turnover_quote_units": 109927.00400754278,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13957.767184038494,
      "return_pct": 39.577671840384944,
      "cagr_pct": 39.630836737935226,
      "max_drawdown_pct": 48.80415805330895,
      "mean_exposure_while_solvent": 0.8578667051053357,
      "realized_annual_volatility_pct": 76.0963469175442,
      "trading_costs_quote_units": 279.37315111390745,
      "borrowing_costs_quote_units": 12.893527696290196,
      "price_pnl_quote_units": 4250.033862848674,
      "turnover_quote_units": 93124.38370463578,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13063.503913859604,
      "return_pct": 30.635039138596042,
      "cagr_pct": 30.674915659391623,
      "max_drawdown_pct": 54.39388765579001,
      "mean_exposure_while_solvent": 1.0115730654212023,
      "realized_annual_volatility_pct": 86.56935097843456,
      "trading_costs_quote_units": 319.9424340213713,
      "borrowing_costs_quote_units": 250.81329443742442,
      "price_pnl_quote_units": 3634.2596423183845,
      "turnover_quote_units": 106647.47800712388,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 222,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13522.94413544984,
      "return_pct": 35.22944135449839,
      "cagr_pct": 35.27606041237805,
      "max_drawdown_pct": 45.66610816121788,
      "mean_exposure_while_solvent": 0.82990453792604,
      "realized_annual_volatility_pct": 68.50476879219606,
      "trading_costs_quote_units": 504.9706089569525,
      "borrowing_costs_quote_units": 69.44231245468774,
      "price_pnl_quote_units": 4097.35705686149,
      "turnover_quote_units": 168323.5363189842,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 302,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 15335.455796471173,
      "return_pct": 53.35455796471174,
      "cagr_pct": 53.429464002854886,
      "max_drawdown_pct": 49.61843389642665,
      "mean_exposure_while_solvent": 0.936268132654398,
      "realized_annual_volatility_pct": 83.95443004395283,
      "trading_costs_quote_units": 130.43937406421483,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5465.895170535371,
      "turnover_quote_units": 43479.79135473825,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 92,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 14275.90513190223,
      "return_pct": 42.75905131902229,
      "cagr_pct": 42.817103912772325,
      "max_drawdown_pct": 48.54594169334702,
      "mean_exposure_while_solvent": 0.8542093983150086,
      "realized_annual_volatility_pct": 75.75866553298282,
      "trading_costs_quote_units": 241.83299025120044,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4517.738122153428,
      "turnover_quote_units": 80610.99675040011,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 195,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 14890.344908305675,
      "return_pct": 48.90344908305675,
      "cagr_pct": 48.97116961725226,
      "max_drawdown_pct": 43.186934294435716,
      "mean_exposure_while_solvent": 0.7497912302472649,
      "realized_annual_volatility_pct": 65.44557715596537,
      "trading_costs_quote_units": 112.85913058554902,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5003.204038891239,
      "turnover_quote_units": 37619.710195183034,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 15838.505198100447,
      "return_pct": 58.38505198100448,
      "cagr_pct": 58.46825653613577,
      "max_drawdown_pct": 54.115788558298625,
      "mean_exposure_while_solvent": 0.9995423340961098,
      "realized_annual_volatility_pct": 87.42207336499658,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5868.415467292891,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 15145.521627228456,
      "return_pct": 51.45521627228455,
      "cagr_pct": 51.52703783937211,
      "max_drawdown_pct": 64.15253023605985,
      "mean_exposure_while_solvent": 1.2493960371864048,
      "realized_annual_volatility_pct": 109.54260084522092,
      "trading_costs_quote_units": 207.09191489301932,
      "borrowing_costs_quote_units": 838.7823801122461,
      "price_pnl_quote_units": 6191.395922233717,
      "turnover_quote_units": 69030.63829767321,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13855.239296246727,
      "return_pct": 38.55239296246729,
      "cagr_pct": 38.60400026042925,
      "max_drawdown_pct": 72.4444902123561,
      "mean_exposure_while_solvent": 1.4993819693238688,
      "realized_annual_volatility_pct": 131.82678582149063,
      "trading_costs_quote_units": 457.62612249968294,
      "borrowing_costs_quote_units": 1698.8100035661162,
      "price_pnl_quote_units": 6011.675422312463,
      "turnover_quote_units": 152542.04083322774,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 362,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13995.313052422229,
      "return_pct": 39.95313052422229,
      "cagr_pct": 40.006867975371115,
      "max_drawdown_pct": 45.55538313465571,
      "mean_exposure_while_solvent": 0.703916072297015,
      "realized_annual_volatility_pct": 68.083033036075,
      "trading_costs_quote_units": 325.2069581443221,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4320.520010566529,
      "turnover_quote_units": 108402.31938144076,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13649.214864397964,
      "return_pct": 36.492148643979625,
      "cagr_pct": 36.54065233244641,
      "max_drawdown_pct": 48.53256497756854,
      "mean_exposure_while_solvent": 0.8570785421230599,
      "realized_annual_volatility_pct": 76.38090047416425,
      "trading_costs_quote_units": 276.48669012418185,
      "borrowing_costs_quote_units": 3.124787002929161,
      "price_pnl_quote_units": 3928.8263415250717,
      "turnover_quote_units": 92162.23004139398,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 12829.694160812267,
      "return_pct": 28.296941608122662,
      "cagr_pct": 28.33345740073726,
      "max_drawdown_pct": 53.96712221160547,
      "mean_exposure_while_solvent": 1.0101933858360201,
      "realized_annual_volatility_pct": 86.80268530853704,
      "trading_costs_quote_units": 314.5697145540454,
      "borrowing_costs_quote_units": 61.2706845262468,
      "price_pnl_quote_units": 3205.5345598925483,
      "turnover_quote_units": 104856.57151801507,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13781.85354488412,
      "return_pct": 37.818535448841196,
      "cagr_pct": 37.86903319836903,
      "max_drawdown_pct": 45.48018762380986,
      "mean_exposure_while_solvent": 0.8283674058425612,
      "realized_annual_volatility_pct": 68.83321799044305,
      "trading_costs_quote_units": 519.4496296811656,
      "borrowing_costs_quote_units": 17.294763231865943,
      "price_pnl_quote_units": 4318.597937797145,
      "turnover_quote_units": 173149.87656038848,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 305,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 15214.4967720957,
      "return_pct": 52.144967720957005,
      "cagr_pct": 52.21790628973268,
      "max_drawdown_pct": 49.610971157655804,
      "mean_exposure_while_solvent": 0.9355240920430969,
      "realized_annual_volatility_pct": 84.0122004218132,
      "trading_costs_quote_units": 132.19833331133464,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5346.6951054070605,
      "turnover_quote_units": 44066.11110377822,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 94,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13904.616948916268,
      "return_pct": 39.046169489162686,
      "cagr_pct": 39.09852585110882,
      "max_drawdown_pct": 48.376000372494254,
      "mean_exposure_while_solvent": 0.8534358789380704,
      "realized_annual_volatility_pct": 76.04513057326582,
      "trading_costs_quote_units": 240.39201862971672,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4145.008967545971,
      "turnover_quote_units": 80130.67287657216,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 198,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 14998.341416305375,
      "return_pct": 49.98341416305374,
      "cagr_pct": 50.05286429004532,
      "max_drawdown_pct": 43.17903656243538,
      "mean_exposure_while_solvent": 0.7490447926355691,
      "realized_annual_volatility_pct": 65.44673369496178,
      "trading_costs_quote_units": 118.43821984011869,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5116.779636145486,
      "turnover_quote_units": 39479.40661337291,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 15786.500007792496,
      "return_pct": 57.86500007792497,
      "cagr_pct": 57.94733816175302,
      "max_drawdown_pct": 54.11578855829864,
      "mean_exposure_while_solvent": 0.9986270022883296,
      "realized_annual_volatility_pct": 87.41781643363431,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5816.4102769849205,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 15376.783821362433,
      "return_pct": 53.767838213624316,
      "cagr_pct": 53.84341898215923,
      "max_drawdown_pct": 63.79468316271596,
      "mean_exposure_while_solvent": 1.2483112489886083,
      "realized_annual_volatility_pct": 109.52284667485408,
      "trading_costs_quote_units": 218.1853812063014,
      "borrowing_costs_quote_units": 210.2674495685119,
      "price_pnl_quote_units": 5805.23665213721,
      "turnover_quote_units": 72728.46040210057,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 14209.542195709471,
      "return_pct": 42.0954219570947,
      "cagr_pct": 42.15244823274206,
      "max_drawdown_pct": 71.8973422277142,
      "mean_exposure_while_solvent": 1.498169553671783,
      "realized_annual_volatility_pct": 131.79381178628324,
      "trading_costs_quote_units": 486.34855923852126,
      "borrowing_costs_quote_units": 426.17472184392335,
      "price_pnl_quote_units": 5122.065476791884,
      "turnover_quote_units": 162116.18641284044,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13995.313052422229,
      "return_pct": 39.95313052422229,
      "cagr_pct": 40.006867975371115,
      "max_drawdown_pct": 45.55538313465571,
      "mean_exposure_while_solvent": 0.703916072297015,
      "realized_annual_volatility_pct": 68.083033036075,
      "trading_costs_quote_units": 325.2069581443221,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4320.520010566529,
      "turnover_quote_units": 108402.31938144076,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13646.704791473641,
      "return_pct": 36.467047914736405,
      "cagr_pct": 36.515514009000306,
      "max_drawdown_pct": 48.533505792882046,
      "mean_exposure_while_solvent": 0.8570787620591013,
      "realized_annual_volatility_pct": 76.38098159313836,
      "trading_costs_quote_units": 276.48009715635663,
      "borrowing_costs_quote_units": 6.249378876275094,
      "price_pnl_quote_units": 3929.434267506287,
      "turnover_quote_units": 92160.03238545211,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 12782.312660071935,
      "return_pct": 27.82312660071935,
      "cagr_pct": 27.858967252481232,
      "max_drawdown_pct": 53.98066884907191,
      "mean_exposure_while_solvent": 1.0101987871965794,
      "realized_annual_volatility_pct": 86.80392222764172,
      "trading_costs_quote_units": 314.2468288706427,
      "borrowing_costs_quote_units": 122.32495006998424,
      "price_pnl_quote_units": 3218.8844390125573,
      "turnover_quote_units": 104748.94295688084,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13766.919689281965,
      "return_pct": 37.66919689281964,
      "cagr_pct": 37.71946939797867,
      "max_drawdown_pct": 45.49296512241169,
      "mean_exposure_while_solvent": 0.8283688820911757,
      "realized_annual_volatility_pct": 68.8336399314597,
      "trading_costs_quote_units": 519.2449007339845,
      "borrowing_costs_quote_units": 34.57291200630607,
      "price_pnl_quote_units": 4320.737502022257,
      "turnover_quote_units": 173081.63357799454,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 305,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 15214.4967720957,
      "return_pct": 52.144967720957005,
      "cagr_pct": 52.21790628973268,
      "max_drawdown_pct": 49.610971157655804,
      "mean_exposure_while_solvent": 0.9355240920430969,
      "realized_annual_volatility_pct": 84.0122004218132,
      "trading_costs_quote_units": 132.19833331133464,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5346.6951054070605,
      "turnover_quote_units": 44066.11110377822,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 94,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13904.616948916268,
      "return_pct": 39.046169489162686,
      "cagr_pct": 39.09852585110882,
      "max_drawdown_pct": 48.376000372494254,
      "mean_exposure_while_solvent": 0.8534358789380704,
      "realized_annual_volatility_pct": 76.04513057326582,
      "trading_costs_quote_units": 240.39201862971672,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4145.008967545971,
      "turnover_quote_units": 80130.67287657216,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 198,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 14998.341416305375,
      "return_pct": 49.98341416305374,
      "cagr_pct": 50.05286429004532,
      "max_drawdown_pct": 43.17903656243538,
      "mean_exposure_while_solvent": 0.7490447926355691,
      "realized_annual_volatility_pct": 65.44673369496178,
      "trading_costs_quote_units": 118.43821984011869,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5116.779636145486,
      "turnover_quote_units": 39479.40661337291,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 15786.500007792496,
      "return_pct": 57.86500007792497,
      "cagr_pct": 57.94733816175302,
      "max_drawdown_pct": 54.11578855829864,
      "mean_exposure_while_solvent": 0.9986270022883296,
      "realized_annual_volatility_pct": 87.41781643363431,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5816.4102769849205,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 15186.153078735004,
      "return_pct": 51.86153078735003,
      "cagr_pct": 51.934009917013825,
      "max_drawdown_pct": 63.9157988075407,
      "mean_exposure_while_solvent": 1.2483290078419849,
      "realized_annual_volatility_pct": 109.52501711740688,
      "trading_costs_quote_units": 217.14639595420252,
      "borrowing_costs_quote_units": 417.8955720369243,
      "price_pnl_quote_units": 5821.195046726123,
      "turnover_quote_units": 72382.13198473417,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13859.065646994675,
      "return_pct": 38.59065646994675,
      "cagr_pct": 38.64232174218454,
      "max_drawdown_pct": 72.08571676998422,
      "mean_exposure_while_solvent": 1.498212229621701,
      "realized_annual_volatility_pct": 131.7990804310518,
      "trading_costs_quote_units": 481.4890652337826,
      "borrowing_costs_quote_units": 841.8664532922908,
      "price_pnl_quote_units": 5182.421165520675,
      "turnover_quote_units": 160496.35507792755,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13995.313052422229,
      "return_pct": 39.95313052422229,
      "cagr_pct": 40.006867975371115,
      "max_drawdown_pct": 45.55538313465571,
      "mean_exposure_while_solvent": 0.703916072297015,
      "realized_annual_volatility_pct": 68.083033036075,
      "trading_costs_quote_units": 325.2069581443221,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4320.520010566529,
      "turnover_quote_units": 108402.31938144076,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13641.68511313477,
      "return_pct": 36.41685113134769,
      "cagr_pct": 36.46524206004841,
      "max_drawdown_pct": 48.53538771983133,
      "mean_exposure_while_solvent": 0.857079201977677,
      "realized_annual_volatility_pct": 76.3811439611144,
      "trading_costs_quote_units": 276.4669105967313,
      "borrowing_costs_quote_units": 12.497976975027816,
      "price_pnl_quote_units": 3930.6500007065447,
      "turnover_quote_units": 92155.63686557702,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12688.052231760928,
      "return_pct": 26.88052231760929,
      "cagr_pct": 26.915025829198658,
      "max_drawdown_pct": 54.007756665362486,
      "mean_exposure_while_solvent": 1.0102095917268337,
      "realized_annual_volatility_pct": 86.80640351376752,
      "trading_costs_quote_units": 313.6027833568166,
      "borrowing_costs_quote_units": 243.7871083424458,
      "price_pnl_quote_units": 3245.4421234602037,
      "turnover_quote_units": 104534.2611189388,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 225,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13737.094252631361,
      "return_pct": 37.37094252631361,
      "cagr_pct": 37.42076573511788,
      "max_drawdown_pct": 45.51851689162496,
      "mean_exposure_while_solvent": 0.8283718350077107,
      "realized_annual_volatility_pct": 68.83448592932922,
      "trading_costs_quote_units": 518.8357831417778,
      "borrowing_costs_quote_units": 69.0794190836113,
      "price_pnl_quote_units": 4325.009454856756,
      "turnover_quote_units": 172945.26104725932,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 305,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 15214.4967720957,
      "return_pct": 52.144967720957005,
      "cagr_pct": 52.21790628973268,
      "max_drawdown_pct": 49.610971157655804,
      "mean_exposure_while_solvent": 0.9355240920430969,
      "realized_annual_volatility_pct": 84.0122004218132,
      "trading_costs_quote_units": 132.19833331133464,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5346.6951054070605,
      "turnover_quote_units": 44066.11110377822,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 94,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13904.616948916268,
      "return_pct": 39.046169489162686,
      "cagr_pct": 39.09852585110882,
      "max_drawdown_pct": 48.376000372494254,
      "mean_exposure_while_solvent": 0.8534358789380704,
      "realized_annual_volatility_pct": 76.04513057326582,
      "trading_costs_quote_units": 240.39201862971672,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 4145.008967545971,
      "turnover_quote_units": 80130.67287657216,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 198,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 14998.341416305375,
      "return_pct": 49.98341416305374,
      "cagr_pct": 50.05286429004532,
      "max_drawdown_pct": 43.17903656243538,
      "mean_exposure_while_solvent": 0.7490447926355691,
      "realized_annual_volatility_pct": 65.44673369496178,
      "trading_costs_quote_units": 118.43821984011869,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5116.779636145486,
      "turnover_quote_units": 39479.40661337291,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 15786.500007792496,
      "return_pct": 57.86500007792497,
      "cagr_pct": 57.94733816175302,
      "max_drawdown_pct": 54.11578855829864,
      "mean_exposure_while_solvent": 0.9986270022883296,
      "realized_annual_volatility_pct": 87.41781643363431,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 5816.4102769849205,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 14811.869982289358,
      "return_pct": 48.11869982289358,
      "cagr_pct": 48.18516917737957,
      "max_drawdown_pct": 64.1568696623648,
      "mean_exposure_while_solvent": 1.248364531014332,
      "realized_annual_volatility_pct": 109.52935896757823,
      "trading_costs_quote_units": 215.09223867636956,
      "borrowing_costs_quote_units": 825.3637866455458,
      "price_pnl_quote_units": 5852.326007611275,
      "turnover_quote_units": 71697.41289212316,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2021",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13183.652035280415,
      "return_pct": 31.836520352804154,
      "cagr_pct": 31.878142526680374,
      "max_drawdown_pct": 72.45878863801069,
      "mean_exposure_while_solvent": 1.4982976000482602,
      "realized_annual_volatility_pct": 131.8096211086113,
      "trading_costs_quote_units": 471.99217042106363,
      "borrowing_costs_quote_units": 1642.825937768445,
      "price_pnl_quote_units": 5298.470143469925,
      "turnover_quote_units": 157330.72347368803,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 5
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4305.251562211529,
      "return_pct": -56.947484377884706,
      "cagr_pct": -56.98890172819618,
      "max_drawdown_pct": 57.679046315147595,
      "mean_exposure_while_solvent": 0.7009362962669989,
      "realized_annual_volatility_pct": 41.50334425658851,
      "trading_costs_quote_units": 28.3121175838497,
      "borrowing_costs_quote_units": 6.132694562991914,
      "price_pnl_quote_units": -5660.303625641627,
      "turnover_quote_units": 47186.86263974949,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2811.5853226326717,
      "return_pct": -71.88414677367328,
      "cagr_pct": -71.92486009940623,
      "max_drawdown_pct": 73.25671084428895,
      "mean_exposure_while_solvent": 1.013455312342129,
      "realized_annual_volatility_pct": 61.13563512984371,
      "trading_costs_quote_units": 29.42647152193529,
      "borrowing_costs_quote_units": 21.883298184130343,
      "price_pnl_quote_units": -7137.1049076612635,
      "turnover_quote_units": 49044.1192032255,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 1911.9461960614997,
      "return_pct": -80.880538039385,
      "cagr_pct": -80.91663052927558,
      "max_drawdown_pct": 82.05092375093407,
      "mean_exposure_while_solvent": 1.2774269115828478,
      "realized_annual_volatility_pct": 78.0702981038028,
      "trading_costs_quote_units": 30.13932341971121,
      "borrowing_costs_quote_units": 63.651835955363666,
      "price_pnl_quote_units": -7994.26264456343,
      "turnover_quote_units": 50232.20569951865,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2838.668202243275,
      "return_pct": -71.61331797756725,
      "cagr_pct": -71.65411313538614,
      "max_drawdown_pct": 73.35156038342282,
      "mean_exposure_while_solvent": 1.0571769933539967,
      "realized_annual_volatility_pct": 61.29415682752677,
      "trading_costs_quote_units": 49.05252911518966,
      "borrowing_costs_quote_units": 32.89542452873192,
      "price_pnl_quote_units": -7079.383844112802,
      "turnover_quote_units": 81754.21519198277,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3276.497014480088,
      "return_pct": -67.23502985519912,
      "cagr_pct": -67.27675690410378,
      "max_drawdown_pct": 69.30036206813496,
      "mean_exposure_while_solvent": 0.9707687012360955,
      "realized_annual_volatility_pct": 58.567872191240355,
      "trading_costs_quote_units": 17.907283068764563,
      "borrowing_costs_quote_units": 9.954413087185108,
      "price_pnl_quote_units": -6695.641289363951,
      "turnover_quote_units": 29845.47178127426,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3433.683214846144,
      "return_pct": -65.66316785153856,
      "cagr_pct": -65.70506142790838,
      "max_drawdown_pct": 67.5291768309783,
      "mean_exposure_while_solvent": 0.9161777320488793,
      "realized_annual_volatility_pct": 56.01334518786301,
      "trading_costs_quote_units": 17.389049142936898,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6548.927736010918,
      "turnover_quote_units": 28981.748571561475,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4728.225003711786,
      "return_pct": -52.717749962882145,
      "cagr_pct": -52.75818044104788,
      "max_drawdown_pct": 55.555716190113436,
      "mean_exposure_while_solvent": 0.7495699611703841,
      "realized_annual_volatility_pct": 46.36063733132667,
      "trading_costs_quote_units": 11.259545009525024,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5260.515451278687,
      "turnover_quote_units": 18765.908349208366,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3500.091999420675,
      "return_pct": -64.99908000579325,
      "cagr_pct": -65.0410190214174,
      "max_drawdown_pct": 67.2621983967848,
      "mean_exposure_while_solvent": 0.9995433789954337,
      "realized_annual_volatility_pct": 61.86936216099288,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6493.911598420623,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2484.936917712859,
      "return_pct": -75.1506308228714,
      "cagr_pct": -75.19011371738391,
      "max_drawdown_pct": 76.92459021628015,
      "mean_exposure_while_solvent": 1.2496576921193299,
      "realized_annual_volatility_pct": 77.42808090290252,
      "trading_costs_quote_units": 16.143893009914482,
      "borrowing_costs_quote_units": 64.66397066802809,
      "price_pnl_quote_units": -7434.255218609201,
      "turnover_quote_units": 26906.488349857424,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 1716.00875346266,
      "return_pct": -82.8399124653734,
      "cagr_pct": -82.87442100040224,
      "max_drawdown_pct": 84.2517192297221,
      "mean_exposure_while_solvent": 1.4999421879536061,
      "realized_annual_volatility_pct": 93.04783251252631,
      "trading_costs_quote_units": 27.103747830139913,
      "borrowing_costs_quote_units": 112.25631635177594,
      "price_pnl_quote_units": -8144.63118235542,
      "turnover_quote_units": 45172.91305023323,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4299.793316813072,
      "return_pct": -57.00206683186928,
      "cagr_pct": -57.04349391050003,
      "max_drawdown_pct": 57.697844446250144,
      "mean_exposure_while_solvent": 0.7009382319644387,
      "realized_annual_volatility_pct": 41.50366394210121,
      "trading_costs_quote_units": 28.307499852541827,
      "borrowing_costs_quote_units": 12.259058172218602,
      "price_pnl_quote_units": -5659.6401251621755,
      "turnover_quote_units": 47179.16642090306,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2797.914483310483,
      "return_pct": -72.02085516689517,
      "cagr_pct": -72.06152605617635,
      "max_drawdown_pct": 73.34653936633129,
      "mean_exposure_while_solvent": 1.0134629371202368,
      "realized_annual_volatility_pct": 61.136746479223724,
      "trading_costs_quote_units": 29.402567352350086,
      "borrowing_costs_quote_units": 43.686063529410205,
      "price_pnl_quote_units": -7128.996885807737,
      "turnover_quote_units": 49004.27892058348,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 1884.7272548654994,
      "return_pct": -81.15272745134502,
      "cagr_pct": -81.18861417156545,
      "max_drawdown_pct": 82.26757613904464,
      "mean_exposure_while_solvent": 1.277449640449267,
      "realized_annual_volatility_pct": 78.07328139752559,
      "trading_costs_quote_units": 30.048205470711224,
      "borrowing_costs_quote_units": 126.67952206753523,
      "price_pnl_quote_units": -7958.545017596274,
      "turnover_quote_units": 50080.34245118535,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2818.070111143418,
      "return_pct": -71.81929888856583,
      "cagr_pct": -71.86003207850133,
      "max_drawdown_pct": 73.48089847503533,
      "mean_exposure_while_solvent": 1.0571884882864635,
      "realized_annual_volatility_pct": 61.29531598105324,
      "trading_costs_quote_units": 48.99204877852275,
      "borrowing_costs_quote_units": 65.60994480471739,
      "price_pnl_quote_units": -7067.327895273358,
      "turnover_quote_units": 81653.41463087131,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3268.311333133066,
      "return_pct": -67.31688666866934,
      "cagr_pct": -67.35860272139573,
      "max_drawdown_pct": 69.34335792755107,
      "mean_exposure_while_solvent": 0.9707720728078371,
      "realized_annual_volatility_pct": 58.56829549437704,
      "trading_costs_quote_units": 17.9022082444227,
      "borrowing_costs_quote_units": 19.887916524958644,
      "price_pnl_quote_units": -6693.898542097548,
      "turnover_quote_units": 29837.01374070451,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3433.683214846144,
      "return_pct": -65.66316785153856,
      "cagr_pct": -65.70506142790838,
      "max_drawdown_pct": 67.5291768309783,
      "mean_exposure_while_solvent": 0.9161777320488793,
      "realized_annual_volatility_pct": 56.01334518786301,
      "trading_costs_quote_units": 17.389049142936898,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6548.927736010918,
      "turnover_quote_units": 28981.748571561475,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4728.225003711786,
      "return_pct": -52.717749962882145,
      "cagr_pct": -52.75818044104788,
      "max_drawdown_pct": 55.555716190113436,
      "mean_exposure_while_solvent": 0.7495699611703841,
      "realized_annual_volatility_pct": 46.36063733132667,
      "trading_costs_quote_units": 11.259545009525024,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5260.515451278687,
      "turnover_quote_units": 18765.908349208366,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3500.091999420675,
      "return_pct": -64.99908000579325,
      "cagr_pct": -65.0410190214174,
      "max_drawdown_pct": 67.2621983967848,
      "mean_exposure_while_solvent": 0.9995433789954337,
      "realized_annual_volatility_pct": 61.86936216099288,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6493.911598420623,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2453.965775728948,
      "return_pct": -75.46034224271052,
      "cagr_pct": -75.49968397896707,
      "max_drawdown_pct": 77.18036061364504,
      "mean_exposure_while_solvent": 1.2496755422796508,
      "realized_annual_volatility_pct": 77.4297781434031,
      "trading_costs_quote_units": 16.107309831167033,
      "borrowing_costs_quote_units": 128.72945617232332,
      "price_pnl_quote_units": -7401.19745826756,
      "turnover_quote_units": 26845.516385278384,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 1673.4393034937798,
      "return_pct": -83.2656069650622,
      "cagr_pct": -83.29973855987282,
      "max_drawdown_pct": 84.59946145040438,
      "mean_exposure_while_solvent": 1.499985085903046,
      "realized_annual_volatility_pct": 93.05193124619682,
      "trading_costs_quote_units": 26.958534798333694,
      "borrowing_costs_quote_units": 222.58928233461856,
      "price_pnl_quote_units": -8077.012879373241,
      "turnover_quote_units": 44930.89133055624,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4288.895011246838,
      "return_pct": -57.11104988753162,
      "cagr_pct": -57.15249615350946,
      "max_drawdown_pct": 57.73542408360283,
      "mean_exposure_while_solvent": 0.7009421040404069,
      "realized_annual_volatility_pct": 41.50430974616198,
      "trading_costs_quote_units": 28.298275190786676,
      "borrowing_costs_quote_units": 24.492815581921896,
      "price_pnl_quote_units": -5658.313897980455,
      "turnover_quote_units": 47163.79198464446,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2770.765224186967,
      "return_pct": -72.29234775813033,
      "cagr_pct": -72.33293210702384,
      "max_drawdown_pct": 73.52533432607065,
      "mean_exposure_while_solvent": 1.0134781895677607,
      "realized_annual_volatility_pct": 61.13898481768463,
      "trading_costs_quote_units": 29.354888098283155,
      "borrowing_costs_quote_units": 87.05133096214452,
      "price_pnl_quote_units": -7112.828556752606,
      "turnover_quote_units": 48924.81349713858,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 1831.4329831804712,
      "return_pct": -81.68567016819529,
      "cagr_pct": -81.72114094271873,
      "max_drawdown_pct": 82.69317277915738,
      "mean_exposure_while_solvent": 1.2774951069936695,
      "realized_annual_volatility_pct": 78.07926345762624,
      "trading_costs_quote_units": 29.86780043061446,
      "borrowing_costs_quote_units": 250.8911691151601,
      "price_pnl_quote_units": -7887.808047273772,
      "turnover_quote_units": 49779.6673843575,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2777.310969476487,
      "return_pct": -72.22689030523513,
      "cagr_pct": -72.2674957959433,
      "max_drawdown_pct": 73.7377557333801,
      "mean_exposure_while_solvent": 1.057211482565597,
      "realized_annual_volatility_pct": 61.297654271655844,
      "trading_costs_quote_units": 48.87175122627747,
      "borrowing_costs_quote_units": 130.50085215561444,
      "price_pnl_quote_units": -7043.316427141642,
      "turnover_quote_units": 81452.91871046249,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3251.99788852052,
      "return_pct": -67.4800211147948,
      "cagr_pct": -67.52171455419096,
      "max_drawdown_pct": 69.42918655015214,
      "mean_exposure_while_solvent": 0.9707788168795367,
      "realized_annual_volatility_pct": 58.569146130478735,
      "trading_costs_quote_units": 17.892079210226274,
      "borrowing_costs_quote_units": 39.6923738410223,
      "price_pnl_quote_units": -6690.417658428226,
      "turnover_quote_units": 29820.132017043772,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3433.683214846144,
      "return_pct": -65.66316785153856,
      "cagr_pct": -65.70506142790838,
      "max_drawdown_pct": 67.5291768309783,
      "mean_exposure_while_solvent": 0.9161777320488793,
      "realized_annual_volatility_pct": 56.01334518786301,
      "trading_costs_quote_units": 17.389049142936898,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6548.927736010918,
      "turnover_quote_units": 28981.748571561475,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4728.225003711786,
      "return_pct": -52.717749962882145,
      "cagr_pct": -52.75818044104788,
      "max_drawdown_pct": 55.555716190113436,
      "mean_exposure_while_solvent": 0.7495699611703841,
      "realized_annual_volatility_pct": 46.36063733132667,
      "trading_costs_quote_units": 11.259545009525024,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5260.515451278687,
      "turnover_quote_units": 18765.908349208366,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3500.091999420675,
      "return_pct": -64.99908000579325,
      "cagr_pct": -65.0410190214174,
      "max_drawdown_pct": 67.2621983967848,
      "mean_exposure_while_solvent": 0.9995433789954337,
      "realized_annual_volatility_pct": 61.86936216099288,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6493.911598420623,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2393.16270555763,
      "return_pct": -76.0683729444237,
      "cagr_pct": -76.10742452387481,
      "max_drawdown_pct": 77.68354410196736,
      "mean_exposure_while_solvent": 1.249711248108754,
      "realized_annual_volatility_pct": 77.43317361630278,
      "trading_costs_quote_units": 16.036042385639373,
      "borrowing_costs_quote_units": 255.0898667435279,
      "price_pnl_quote_units": -7335.711385313218,
      "turnover_quote_units": 26726.737309398948,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 1591.4193234945233,
      "return_pct": -84.08580676505477,
      "cagr_pct": -84.11917697352314,
      "max_drawdown_pct": 85.2722689492087,
      "mean_exposure_while_solvent": 1.5000709004695727,
      "realized_annual_volatility_pct": 93.06013186727756,
      "trading_costs_quote_units": 26.67573561830593,
      "borrowing_costs_quote_units": 437.6377886058046,
      "price_pnl_quote_units": -7944.267152281366,
      "turnover_quote_units": 44459.55936384321,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4296.884278104129,
      "return_pct": -57.031157218958704,
      "cagr_pct": -57.07258945009104,
      "max_drawdown_pct": 57.765683033114236,
      "mean_exposure_while_solvent": 0.6993016140091652,
      "realized_annual_volatility_pct": 41.58519435864479,
      "trading_costs_quote_units": 28.33716009242035,
      "borrowing_costs_quote_units": 6.032771239461166,
      "price_pnl_quote_units": -5668.745790563986,
      "turnover_quote_units": 47228.60015403388,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2831.070640742695,
      "return_pct": -71.68929359257305,
      "cagr_pct": -71.7300660929664,
      "max_drawdown_pct": 73.0515354946875,
      "mean_exposure_while_solvent": 1.0122008375780436,
      "realized_annual_volatility_pct": 61.24515897888578,
      "trading_costs_quote_units": 29.360322330298683,
      "borrowing_costs_quote_units": 21.87471030382083,
      "price_pnl_quote_units": -7117.694326623173,
      "turnover_quote_units": 48933.87055049782,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1923.340238980893,
      "return_pct": -80.76659761019107,
      "cagr_pct": -80.8027749200502,
      "max_drawdown_pct": 81.92247174693397,
      "mean_exposure_while_solvent": 1.276864090919111,
      "realized_annual_volatility_pct": 78.21710676629604,
      "trading_costs_quote_units": 30.163570686645727,
      "borrowing_costs_quote_units": 63.48116539787077,
      "price_pnl_quote_units": -7983.015024934608,
      "turnover_quote_units": 50272.61781107617,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2771.896260881465,
      "return_pct": -72.28103739118535,
      "cagr_pct": -72.32162540577043,
      "max_drawdown_pct": 73.96771951802334,
      "mean_exposure_while_solvent": 1.055922102495985,
      "realized_annual_volatility_pct": 61.43784664188065,
      "trading_costs_quote_units": 48.346678956052074,
      "borrowing_costs_quote_units": 32.402091768905805,
      "price_pnl_quote_units": -7147.354968393572,
      "turnover_quote_units": 80577.7982600868,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3288.681718087759,
      "return_pct": -67.11318281912241,
      "cagr_pct": -67.1549258039144,
      "max_drawdown_pct": 69.16215932355618,
      "mean_exposure_while_solvent": 0.9696363871417247,
      "realized_annual_volatility_pct": 58.63090994075417,
      "trading_costs_quote_units": 18.081385963595103,
      "borrowing_costs_quote_units": 9.940204010104194,
      "price_pnl_quote_units": -6683.296691938556,
      "turnover_quote_units": 30135.643272658523,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3444.65834445053,
      "return_pct": -65.55341655549469,
      "cagr_pct": -65.59531864562388,
      "max_drawdown_pct": 67.39727158252882,
      "mean_exposure_while_solvent": 0.9152317082352414,
      "realized_annual_volatility_pct": 56.064193219689386,
      "trading_costs_quote_units": 17.38433523363639,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6537.957320315837,
      "turnover_quote_units": 28973.892056060675,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4726.950251333473,
      "return_pct": -52.73049748666527,
      "cagr_pct": -52.770931608781524,
      "max_drawdown_pct": 55.5964286144467,
      "mean_exposure_while_solvent": 0.7486263650749798,
      "realized_annual_volatility_pct": 46.31417470208785,
      "trading_costs_quote_units": 11.277411487558084,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5261.772337178977,
      "turnover_quote_units": 18795.685812596806,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3497.795460049033,
      "return_pct": -65.02204539950966,
      "cagr_pct": -65.06398308554573,
      "max_drawdown_pct": 67.2621983967848,
      "mean_exposure_while_solvent": 0.9986301369863012,
      "realized_annual_volatility_pct": 61.853950907823844,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6496.208137792267,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2481.9555939077136,
      "return_pct": -75.18044406092285,
      "cagr_pct": -75.21991355990319,
      "max_drawdown_pct": 76.93542725152959,
      "mean_exposure_while_solvent": 1.2489705933890987,
      "realized_annual_volatility_pct": 77.46533845791795,
      "trading_costs_quote_units": 16.21259213628845,
      "borrowing_costs_quote_units": 64.56980665827476,
      "price_pnl_quote_units": -7437.262007297718,
      "turnover_quote_units": 27020.986893814068,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1712.665459569088,
      "return_pct": -82.87334540430912,
      "cagr_pct": -82.90782477539713,
      "max_drawdown_pct": 84.2702593212215,
      "mean_exposure_while_solvent": 1.4996914473882577,
      "realized_annual_volatility_pct": 93.1595022082759,
      "trading_costs_quote_units": 27.275552380557748,
      "borrowing_costs_quote_units": 111.92909671179957,
      "price_pnl_quote_units": -8148.12989133855,
      "turnover_quote_units": 45459.25396759632,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4291.528658533917,
      "return_pct": -57.084713414660825,
      "cagr_pct": -57.126155072844774,
      "max_drawdown_pct": 57.78450160519372,
      "mean_exposure_while_solvent": 0.6993034796441403,
      "realized_annual_volatility_pct": 41.58554925253114,
      "trading_costs_quote_units": 28.33327714889231,
      "borrowing_costs_quote_units": 12.059441491761927,
      "price_pnl_quote_units": -5668.078622825429,
      "turnover_quote_units": 47222.12858148718,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2817.369928171764,
      "return_pct": -71.82630071828235,
      "cagr_pct": -71.8670317716293,
      "max_drawdown_pct": 73.14136844220211,
      "mean_exposure_while_solvent": 1.0122084019213162,
      "realized_annual_volatility_pct": 61.2460964362599,
      "trading_costs_quote_units": 29.337851134677802,
      "borrowing_costs_quote_units": 43.66913711526923,
      "price_pnl_quote_units": -7109.623083578286,
      "turnover_quote_units": 48896.41855779626,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1896.0030984239584,
      "return_pct": -81.03996901576042,
      "cagr_pct": -81.07594151965654,
      "max_drawdown_pct": 82.1405393275424,
      "mean_exposure_while_solvent": 1.2768868386175365,
      "realized_annual_volatility_pct": 78.2195926257333,
      "trading_costs_quote_units": 30.07249754292002,
      "borrowing_costs_quote_units": 126.33883209607104,
      "price_pnl_quote_units": -7947.585571937049,
      "turnover_quote_units": 50120.829238200015,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2751.8393114239,
      "return_pct": -72.481606885761,
      "cagr_pct": -72.5221291119959,
      "max_drawdown_pct": 74.09393984683022,
      "mean_exposure_while_solvent": 1.0559335371967746,
      "realized_annual_volatility_pct": 61.438856063540605,
      "trading_costs_quote_units": 48.288851925099706,
      "borrowing_costs_quote_units": 64.62754213379934,
      "price_pnl_quote_units": -7135.244294517217,
      "turnover_quote_units": 80481.41987516625,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3280.502431297324,
      "return_pct": -67.19497568702675,
      "cagr_pct": -67.23670803145238,
      "max_drawdown_pct": 69.20516042473773,
      "mean_exposure_while_solvent": 0.9696397338266911,
      "realized_annual_volatility_pct": 58.63127249006699,
      "trading_costs_quote_units": 18.076535540506487,
      "borrowing_costs_quote_units": 19.859621138848805,
      "price_pnl_quote_units": -6681.5614120233295,
      "turnover_quote_units": 30127.55923417752,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3444.65834445053,
      "return_pct": -65.55341655549469,
      "cagr_pct": -65.59531864562388,
      "max_drawdown_pct": 67.39727158252882,
      "mean_exposure_while_solvent": 0.9152317082352414,
      "realized_annual_volatility_pct": 56.064193219689386,
      "trading_costs_quote_units": 17.38433523363639,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6537.957320315837,
      "turnover_quote_units": 28973.892056060675,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4726.950251333473,
      "return_pct": -52.73049748666527,
      "cagr_pct": -52.770931608781524,
      "max_drawdown_pct": 55.5964286144467,
      "mean_exposure_while_solvent": 0.7486263650749798,
      "realized_annual_volatility_pct": 46.31417470208785,
      "trading_costs_quote_units": 11.277411487558084,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5261.772337178977,
      "turnover_quote_units": 18795.685812596806,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3497.795460049033,
      "return_pct": -65.02204539950966,
      "cagr_pct": -65.06398308554573,
      "max_drawdown_pct": 67.2621983967848,
      "mean_exposure_while_solvent": 0.9986301369863012,
      "realized_annual_volatility_pct": 61.853950907823844,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6496.208137792267,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2451.046818884751,
      "return_pct": -75.48953181115249,
      "cagr_pct": -75.52886001435901,
      "max_drawdown_pct": 77.19108929252117,
      "mean_exposure_while_solvent": 1.2489884614831783,
      "realized_annual_volatility_pct": 77.46675381308425,
      "trading_costs_quote_units": 16.182199039163205,
      "borrowing_costs_quote_units": 128.54256334575953,
      "price_pnl_quote_units": -7404.228418730325,
      "turnover_quote_units": 26970.331731938637,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1670.212404319709,
      "return_pct": -83.29787595680291,
      "cagr_pct": -83.33197847842007,
      "max_drawdown_pct": 84.61761272000064,
      "mean_exposure_while_solvent": 1.499734432047014,
      "realized_annual_volatility_pct": 93.16292767085751,
      "trading_costs_quote_units": 27.14420984961564,
      "borrowing_costs_quote_units": 221.94182092757924,
      "price_pnl_quote_units": -8080.701564903089,
      "turnover_quote_units": 45240.3497493594,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4280.83494560029,
      "return_pct": -57.191650543997106,
      "cagr_pct": -57.233110796930205,
      "max_drawdown_pct": 57.82212203809281,
      "mean_exposure_while_solvent": 0.6993072115559815,
      "realized_annual_volatility_pct": 41.58626532105988,
      "trading_costs_quote_units": 28.325519681341916,
      "borrowing_costs_quote_units": 24.09450081436845,
      "price_pnl_quote_units": -5666.7450339040015,
      "turnover_quote_units": 47209.19946890316,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2790.159721618065,
      "return_pct": -72.09840278381935,
      "cagr_pct": -72.1390492623324,
      "max_drawdown_pct": 73.32018071775278,
      "mean_exposure_while_solvent": 1.0122235334599943,
      "realized_annual_volatility_pct": 61.24798658304606,
      "trading_costs_quote_units": 29.293993854596998,
      "borrowing_costs_quote_units": 87.01845946873179,
      "price_pnl_quote_units": -7093.527825058617,
      "turnover_quote_units": 48823.323090994985,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1842.4753051320856,
      "return_pct": -81.57524694867915,
      "cagr_pct": -81.61080534200514,
      "max_drawdown_pct": 82.5689210612393,
      "mean_exposure_while_solvent": 1.2769323428262669,
      "realized_annual_volatility_pct": 78.22457858776977,
      "trading_costs_quote_units": 29.8923887513025,
      "borrowing_costs_quote_units": 250.21237414171833,
      "price_pnl_quote_units": -7877.419931974895,
      "turnover_quote_units": 49820.6479188375,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2712.149217958281,
      "return_pct": -72.87850782041718,
      "cagr_pct": -72.9188949290415,
      "max_drawdown_pct": 74.34460752147316,
      "mean_exposure_while_solvent": 1.0559564109740471,
      "realized_annual_volatility_pct": 61.44089467177879,
      "trading_costs_quote_units": 48.174357161686395,
      "borrowing_costs_quote_units": 128.55296236398854,
      "price_pnl_quote_units": -7111.123462516043,
      "turnover_quote_units": 80290.59526947717,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3264.2014630612994,
      "return_pct": -67.35798536938701,
      "cagr_pct": -67.3996958129054,
      "max_drawdown_pct": 69.29100030264024,
      "mean_exposure_while_solvent": 0.9696464281138578,
      "realized_annual_volatility_pct": 58.632001488730126,
      "trading_costs_quote_units": 18.066855113423784,
      "borrowing_costs_quote_units": 39.63627229361232,
      "price_pnl_quote_units": -6678.0954095316765,
      "turnover_quote_units": 30111.425189039557,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3444.65834445053,
      "return_pct": -65.55341655549469,
      "cagr_pct": -65.59531864562388,
      "max_drawdown_pct": 67.39727158252882,
      "mean_exposure_while_solvent": 0.9152317082352414,
      "realized_annual_volatility_pct": 56.064193219689386,
      "trading_costs_quote_units": 17.38433523363639,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6537.957320315837,
      "turnover_quote_units": 28973.892056060675,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4726.950251333473,
      "return_pct": -52.73049748666527,
      "cagr_pct": -52.770931608781524,
      "max_drawdown_pct": 55.5964286144467,
      "mean_exposure_while_solvent": 0.7486263650749798,
      "realized_annual_volatility_pct": 46.31417470208785,
      "trading_costs_quote_units": 11.277411487558084,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5261.772337178977,
      "turnover_quote_units": 18795.685812596806,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3497.795460049033,
      "return_pct": -65.02204539950966,
      "cagr_pct": -65.06398308554573,
      "max_drawdown_pct": 67.2621983967848,
      "mean_exposure_while_solvent": 0.9986301369863012,
      "realized_annual_volatility_pct": 61.853950907823844,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6496.208137792267,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2390.3655142460784,
      "return_pct": -76.09634485753922,
      "cagr_pct": -76.13538266767819,
      "max_drawdown_pct": 77.69405507775525,
      "mean_exposure_while_solvent": 1.2490242031867698,
      "realized_annual_volatility_pct": 77.46958493472658,
      "trading_costs_quote_units": 16.122689063267202,
      "borrowing_costs_quote_units": 254.72175039104616,
      "price_pnl_quote_units": -7338.790046299607,
      "turnover_quote_units": 26871.148438778728,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1588.4146520633522,
      "return_pct": -84.11585347936648,
      "cagr_pct": -84.14919489460839,
      "max_drawdown_pct": 85.28966003379035,
      "mean_exposure_while_solvent": 1.499820420087727,
      "realized_annual_volatility_pct": 93.16978023157479,
      "trading_costs_quote_units": 26.887620207287195,
      "borrowing_costs_quote_units": 436.37015884671916,
      "price_pnl_quote_units": -7948.327568882613,
      "turnover_quote_units": 44812.70034547861,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4233.679859487361,
      "return_pct": -57.663201405126394,
      "cagr_pct": -57.7047400038077,
      "max_drawdown_pct": 58.17948306564045,
      "mean_exposure_while_solvent": 0.7009362962669989,
      "realized_annual_volatility_pct": 41.50918245039073,
      "trading_costs_quote_units": 140.51804087593112,
      "borrowing_costs_quote_units": 6.043294191863021,
      "price_pnl_quote_units": -5619.75880544484,
      "turnover_quote_units": 46839.34695864369,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2756.7163666138413,
      "return_pct": -72.43283633386159,
      "cagr_pct": -72.47337471033029,
      "max_drawdown_pct": 73.63782054588927,
      "mean_exposure_while_solvent": 1.013455312342129,
      "realized_annual_volatility_pct": 61.13832620106545,
      "trading_costs_quote_units": 145.9870542578581,
      "borrowing_costs_quote_units": 21.60890707303035,
      "price_pnl_quote_units": -7075.687672055271,
      "turnover_quote_units": 48662.35141928598,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 1871.2716414614038,
      "return_pct": -81.28728358538596,
      "cagr_pct": -81.32306693093398,
      "max_drawdown_pct": 82.36545568235186,
      "mean_exposure_while_solvent": 1.2774269115828478,
      "realized_annual_volatility_pct": 78.08174573102295,
      "trading_costs_quote_units": 149.5079735085419,
      "borrowing_costs_quote_units": 62.95808356221254,
      "price_pnl_quote_units": -7916.262301467856,
      "turnover_quote_units": 49835.99116951408,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2745.007435481208,
      "return_pct": -72.54992564518791,
      "cagr_pct": -72.59042508187342,
      "max_drawdown_pct": 74.06019675365015,
      "mean_exposure_while_solvent": 1.0571769933539967,
      "realized_annual_volatility_pct": 61.30703979817566,
      "trading_costs_quote_units": 242.05628518758328,
      "borrowing_costs_quote_units": 32.20588218814584,
      "price_pnl_quote_units": -6980.730397143072,
      "turnover_quote_units": 80685.42839586112,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3240.744009565893,
      "return_pct": -67.59255990434107,
      "cagr_pct": -67.63423719945358,
      "max_drawdown_pct": 69.54993858399516,
      "mean_exposure_while_solvent": 0.9707687012360955,
      "realized_annual_volatility_pct": 58.570927802286896,
      "trading_costs_quote_units": 89.1109395491249,
      "borrowing_costs_quote_units": 9.864324052514188,
      "price_pnl_quote_units": -6660.280726832457,
      "turnover_quote_units": 29703.646516374993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3401.255349976106,
      "return_pct": -65.98744650023893,
      "cagr_pct": -66.02931257588583,
      "max_drawdown_pct": 67.76024754778369,
      "mean_exposure_while_solvent": 0.9161777320488793,
      "realized_annual_volatility_pct": 56.018530130012536,
      "trading_costs_quote_units": 86.565901323956,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6512.178748699944,
      "turnover_quote_units": 28855.300441318646,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4701.4005764616695,
      "return_pct": -52.9859942353833,
      "cagr_pct": -53.02650056306817,
      "max_drawdown_pct": 55.674408538918584,
      "mean_exposure_while_solvent": 0.7495699611703841,
      "realized_annual_volatility_pct": 46.362280067243894,
      "trading_costs_quote_units": 56.132863496748534,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5242.466560041583,
      "turnover_quote_units": 18710.954498916177,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3491.7169039086016,
      "return_pct": -65.08283096091398,
      "cagr_pct": -65.12476504461604,
      "max_drawdown_pct": 67.2621983967848,
      "mean_exposure_while_solvent": 0.9995433789954337,
      "realized_annual_volatility_pct": 61.869873149098645,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6478.372826898979,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2461.3728951673756,
      "return_pct": -75.38627104832625,
      "cagr_pct": -75.42564694813927,
      "max_drawdown_pct": 77.0673113236225,
      "mean_exposure_while_solvent": 1.2496576921193299,
      "realized_annual_volatility_pct": 77.43123490820926,
      "trading_costs_quote_units": 80.38862064493492,
      "borrowing_costs_quote_units": 64.29928539348576,
      "price_pnl_quote_units": -7393.939198794194,
      "turnover_quote_units": 26796.206881645005,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 1683.1460536627017,
      "return_pct": -83.16853946337298,
      "cagr_pct": -83.20275808502458,
      "max_drawdown_pct": 84.48545772768855,
      "mean_exposure_while_solvent": 1.4999421879536061,
      "realized_annual_volatility_pct": 93.05516190089509,
      "trading_costs_quote_units": 134.57711270939475,
      "borrowing_costs_quote_units": 111.19636234307217,
      "price_pnl_quote_units": -8071.080471284817,
      "turnover_quote_units": 44859.03756979829,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4228.319316496754,
      "return_pct": -57.716806835032465,
      "cagr_pct": -57.75835396145794,
      "max_drawdown_pct": 58.19804598452819,
      "mean_exposure_while_solvent": 0.7009382319644387,
      "realized_annual_volatility_pct": 41.509504318711265,
      "trading_costs_quote_units": 140.49538557862562,
      "borrowing_costs_quote_units": 12.080364788759455,
      "price_pnl_quote_units": -5619.10493313586,
      "turnover_quote_units": 46831.79519287525,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2743.312032032384,
      "return_pct": -72.56687967967616,
      "cagr_pct": -72.60737343084391,
      "max_drawdown_pct": 73.72636024830972,
      "mean_exposure_while_solvent": 1.0134629371202368,
      "realized_annual_volatility_pct": 61.139441375556515,
      "trading_costs_quote_units": 145.86943901857276,
      "borrowing_costs_quote_units": 43.138609585896376,
      "price_pnl_quote_units": -7067.679919363151,
      "turnover_quote_units": 48623.146339524195,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 1844.6289497417288,
      "return_pct": -81.5537105025827,
      "cagr_pct": -81.58928589653196,
      "max_drawdown_pct": 82.57833820263227,
      "mean_exposure_while_solvent": 1.277449640449267,
      "realized_annual_volatility_pct": 78.08474925032371,
      "trading_costs_quote_units": 149.05916813966158,
      "borrowing_costs_quote_units": 125.30139050993353,
      "price_pnl_quote_units": -7881.0104916086775,
      "turnover_quote_units": 49686.3893798872,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2725.0877835565934,
      "return_pct": -72.74912216443407,
      "cagr_pct": -72.78955404385847,
      "max_drawdown_pct": 74.18611056311042,
      "mean_exposure_while_solvent": 1.0571884882864635,
      "realized_annual_volatility_pct": 61.30820608417872,
      "trading_costs_quote_units": 241.76098391951948,
      "borrowing_costs_quote_units": 64.23589082033558,
      "price_pnl_quote_units": -6968.915341703563,
      "turnover_quote_units": 80586.99463983976,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3232.6530967825906,
      "return_pct": -67.6734690321741,
      "cagr_pct": -67.71513444478259,
      "max_drawdown_pct": 69.59255660534347,
      "mean_exposure_while_solvent": 0.9707720728078371,
      "realized_annual_volatility_pct": 58.57135280671637,
      "trading_costs_quote_units": 89.08590907956815,
      "borrowing_costs_quote_units": 19.707966946014555,
      "price_pnl_quote_units": -6658.553027191805,
      "turnover_quote_units": 29695.303026522713,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3401.255349976106,
      "return_pct": -65.98744650023893,
      "cagr_pct": -66.02931257588583,
      "max_drawdown_pct": 67.76024754778369,
      "mean_exposure_while_solvent": 0.9161777320488793,
      "realized_annual_volatility_pct": 56.018530130012536,
      "trading_costs_quote_units": 86.565901323956,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6512.178748699944,
      "turnover_quote_units": 28855.300441318646,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4701.4005764616695,
      "return_pct": -52.9859942353833,
      "cagr_pct": -53.02650056306817,
      "max_drawdown_pct": 55.674408538918584,
      "mean_exposure_while_solvent": 0.7495699611703841,
      "realized_annual_volatility_pct": 46.362280067243894,
      "trading_costs_quote_units": 56.132863496748534,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5242.466560041583,
      "turnover_quote_units": 18710.954498916177,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3491.7169039086016,
      "return_pct": -65.08283096091398,
      "cagr_pct": -65.12476504461604,
      "max_drawdown_pct": 67.2621983967848,
      "mean_exposure_while_solvent": 0.9995433789954337,
      "realized_annual_volatility_pct": 61.869873149098645,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6478.372826898979,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2430.6895745273914,
      "return_pct": -75.69310425472608,
      "cagr_pct": -75.7323369703569,
      "max_drawdown_pct": 77.32155259514649,
      "mean_exposure_while_solvent": 1.2496755422796508,
      "realized_annual_volatility_pct": 77.43295334612576,
      "trading_costs_quote_units": 80.20753673529559,
      "borrowing_costs_quote_units": 128.00421585271107,
      "price_pnl_quote_units": -7361.098672884606,
      "turnover_quote_units": 26735.84557843184,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 1641.3803715367044,
      "return_pct": -83.58619628463295,
      "cagr_pct": -83.62003586644701,
      "max_drawdown_pct": 84.82814058229997,
      "mean_exposure_while_solvent": 1.499985085903046,
      "realized_annual_volatility_pct": 93.05931357767273,
      "trading_costs_quote_units": 133.86099601970926,
      "borrowing_costs_quote_units": 220.49363079367458,
      "price_pnl_quote_units": -8004.265001649912,
      "turnover_quote_units": 44620.332006569755,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4217.616065014743,
      "return_pct": -57.82383934985257,
      "cagr_pct": -57.86540327106098,
      "max_drawdown_pct": 58.23783476793698,
      "mean_exposure_while_solvent": 0.7009421040404069,
      "realized_annual_volatility_pct": 41.51015447200701,
      "trading_costs_quote_units": 140.45012780805564,
      "borrowing_costs_quote_units": 24.135857817751145,
      "price_pnl_quote_units": -5617.797949359455,
      "turnover_quote_units": 46816.70926935185,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2716.692034786637,
      "return_pct": -72.83307965213363,
      "cagr_pct": -72.8734825601888,
      "max_drawdown_pct": 73.90259002721231,
      "mean_exposure_while_solvent": 1.0134781895677607,
      "realized_annual_volatility_pct": 61.14168737895174,
      "trading_costs_quote_units": 145.6348402051572,
      "borrowing_costs_quote_units": 85.96171207058819,
      "price_pnl_quote_units": -7051.711412937627,
      "turnover_quote_units": 48544.94673505234,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 1792.4626418760809,
      "return_pct": -82.07537358123919,
      "cagr_pct": -82.11052902991023,
      "max_drawdown_pct": 82.99652829186151,
      "mean_exposure_while_solvent": 1.2774951069936695,
      "realized_annual_volatility_pct": 78.09077170971749,
      "trading_costs_quote_units": 148.1705407128116,
      "borrowing_costs_quote_units": 248.17189935218224,
      "price_pnl_quote_units": -7811.194918058894,
      "turnover_quote_units": 49390.18023760395,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2685.670490306228,
      "return_pct": -73.1432950969377,
      "cagr_pct": -73.18358838184147,
      "max_drawdown_pct": 74.43616720032308,
      "mean_exposure_while_solvent": 1.057211482565597,
      "realized_annual_volatility_pct": 61.31055854338576,
      "trading_costs_quote_units": 241.17359667045372,
      "borrowing_costs_quote_units": 127.77272375586216,
      "price_pnl_quote_units": -6945.383189267464,
      "turnover_quote_units": 80391.19889015121,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3216.5284783169736,
      "return_pct": -67.83471521683026,
      "cagr_pct": -67.87635625823086,
      "max_drawdown_pct": 69.67763110287308,
      "mean_exposure_while_solvent": 0.9707788168795367,
      "realized_annual_volatility_pct": 58.572206843261846,
      "trading_costs_quote_units": 89.0359494180898,
      "borrowing_costs_quote_units": 39.333386503313235,
      "price_pnl_quote_units": -6655.1021857616315,
      "turnover_quote_units": 29678.649806029916,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3401.255349976106,
      "return_pct": -65.98744650023893,
      "cagr_pct": -66.02931257588583,
      "max_drawdown_pct": 67.76024754778369,
      "mean_exposure_while_solvent": 0.9161777320488793,
      "realized_annual_volatility_pct": 56.018530130012536,
      "trading_costs_quote_units": 86.565901323956,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6512.178748699944,
      "turnover_quote_units": 28855.300441318646,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4701.4005764616695,
      "return_pct": -52.9859942353833,
      "cagr_pct": -53.02650056306817,
      "max_drawdown_pct": 55.674408538918584,
      "mean_exposure_while_solvent": 0.7495699611703841,
      "realized_annual_volatility_pct": 46.362280067243894,
      "trading_costs_quote_units": 56.132863496748534,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5242.466560041583,
      "turnover_quote_units": 18710.954498916177,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3491.7169039086016,
      "return_pct": -65.08283096091398,
      "cagr_pct": -65.12476504461604,
      "max_drawdown_pct": 67.2621983967848,
      "mean_exposure_while_solvent": 0.9995433789954337,
      "realized_annual_volatility_pct": 61.869873149098645,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6478.372826898979,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2370.4492329822615,
      "return_pct": -76.29550767017739,
      "cagr_pct": -76.3344463587193,
      "max_drawdown_pct": 77.82174759042519,
      "mean_exposure_while_solvent": 1.249711248108754,
      "realized_annual_volatility_pct": 77.4363911555129,
      "trading_costs_quote_units": 79.85477137347559,
      "borrowing_costs_quote_units": 253.65561945327408,
      "price_pnl_quote_units": -7296.040376190979,
      "turnover_quote_units": 26618.25712449187,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 1560.905852918391,
      "return_pct": -84.39094147081609,
      "cagr_pct": -84.424016243838,
      "max_drawdown_pct": 85.49118646743506,
      "mean_exposure_while_solvent": 1.5000709004695727,
      "realized_annual_volatility_pct": 93.06761997159178,
      "trading_costs_quote_units": 132.46628813431144,
      "borrowing_costs_quote_units": 433.5409238773549,
      "price_pnl_quote_units": -7873.086935069937,
      "turnover_quote_units": 44155.42937810377,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4225.313520993057,
      "return_pct": -57.74686479006943,
      "cagr_pct": -57.78841666426134,
      "max_drawdown_pct": 58.27068858238136,
      "mean_exposure_while_solvent": 0.6993016140091652,
      "realized_annual_volatility_pct": 41.59250137023466,
      "trading_costs_quote_units": 140.6403079512354,
      "borrowing_costs_quote_units": 5.9446812723396105,
      "price_pnl_quote_units": -5628.101489783365,
      "turnover_quote_units": 46880.10265041176,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2775.6844649944605,
      "return_pct": -72.24315535005539,
      "cagr_pct": -72.28375560385018,
      "max_drawdown_pct": 73.43870532982801,
      "mean_exposure_while_solvent": 1.0122008375780436,
      "realized_annual_volatility_pct": 61.25254744571045,
      "trading_costs_quote_units": 145.65450685249502,
      "borrowing_costs_quote_units": 21.600636747386325,
      "price_pnl_quote_units": -7057.060391405649,
      "turnover_quote_units": 48551.50228416502,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1882.4169708136549,
      "return_pct": -81.17583029186345,
      "cagr_pct": -81.21169934116914,
      "max_drawdown_pct": 82.239025092817,
      "mean_exposure_while_solvent": 1.276864090919111,
      "realized_annual_volatility_pct": 78.22084370234462,
      "trading_costs_quote_units": 149.62312773034324,
      "borrowing_costs_quote_units": 62.785442203548826,
      "price_pnl_quote_units": -7905.174459252435,
      "turnover_quote_units": 49874.375910114366,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2680.916770340493,
      "return_pct": -73.19083229659506,
      "cagr_pct": -73.23110842262385,
      "max_drawdown_pct": 74.65751053433071,
      "mean_exposure_while_solvent": 1.055922102495985,
      "realized_annual_volatility_pct": 61.44842506936914,
      "trading_costs_quote_units": 238.6046521529067,
      "borrowing_costs_quote_units": 31.731224593085006,
      "price_pnl_quote_units": -7048.747352913512,
      "turnover_quote_units": 79534.88405096887,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3252.2428897513696,
      "return_pct": -67.47757110248631,
      "cagr_pct": -67.51926488839783,
      "max_drawdown_pct": 69.41814864099614,
      "mean_exposure_while_solvent": 0.9696363871417247,
      "realized_annual_volatility_pct": 58.63299262623588,
      "trading_costs_quote_units": 89.971855800878,
      "borrowing_costs_quote_units": 9.848967323241816,
      "price_pnl_quote_units": -6647.936287124505,
      "turnover_quote_units": 29990.618600292688,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3412.0004828414717,
      "return_pct": -65.87999517158528,
      "cagr_pct": -65.92187074920919,
      "max_drawdown_pct": 67.63073476852811,
      "mean_exposure_while_solvent": 0.9152317082352414,
      "realized_annual_volatility_pct": 56.063305372635654,
      "trading_costs_quote_units": 86.54151279140707,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6501.45800436713,
      "turnover_quote_units": 28847.170930469016,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4700.256512442743,
      "return_pct": -52.997434875572566,
      "cagr_pct": -53.037944399440484,
      "max_drawdown_pct": 55.71187928294865,
      "mean_exposure_while_solvent": 0.7486263650749798,
      "realized_annual_volatility_pct": 46.31498986988268,
      "trading_costs_quote_units": 56.222131924925556,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5243.521355632334,
      "turnover_quote_units": 18740.71064164187,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3489.4258597458247,
      "return_pct": -65.10574140254175,
      "cagr_pct": -65.14767409715667,
      "max_drawdown_pct": 67.26219839678481,
      "mean_exposure_while_solvent": 0.9986301369863012,
      "realized_annual_volatility_pct": 61.85446190692665,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6480.663871061737,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2458.5168739590663,
      "return_pct": -75.41483126040933,
      "cagr_pct": -75.45419401769503,
      "max_drawdown_pct": 77.07767396651103,
      "mean_exposure_while_solvent": 1.2489705933890987,
      "realized_annual_volatility_pct": 77.46709922965731,
      "trading_costs_quote_units": 80.73028724292116,
      "borrowing_costs_quote_units": 64.20256888513543,
      "price_pnl_quote_units": -7396.550269912874,
      "turnover_quote_units": 26910.095747640364,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1680.0256246164772,
      "return_pct": -83.19974375383524,
      "cagr_pct": -83.23393446880945,
      "max_drawdown_pct": 84.50306636297601,
      "mean_exposure_while_solvent": 1.4996914473882577,
      "realized_annual_volatility_pct": 93.1634960914905,
      "trading_costs_quote_units": 135.42747108589515,
      "borrowing_costs_quote_units": 110.85807029570682,
      "price_pnl_quote_units": -8073.688834001917,
      "turnover_quote_units": 45142.49036196504,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4220.051630148757,
      "return_pct": -57.79948369851243,
      "cagr_pct": -57.84104382524428,
      "max_drawdown_pct": 58.289279128949744,
      "mean_exposure_while_solvent": 0.6993034796441403,
      "realized_annual_volatility_pct": 41.592861306159854,
      "trading_costs_quote_units": 140.62126807156545,
      "borrowing_costs_quote_units": 11.88336229484491,
      "price_pnl_quote_units": -5627.4437394848355,
      "turnover_quote_units": 46873.7560238551,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2762.247182104594,
      "return_pct": -72.37752817895407,
      "cagr_pct": -72.41808475137415,
      "max_drawdown_pct": 73.52727620576306,
      "mean_exposure_while_solvent": 1.0122084019213162,
      "realized_annual_volatility_pct": 61.253493988351806,
      "trading_costs_quote_units": 145.54393162082198,
      "borrowing_costs_quote_units": 43.12229087856892,
      "price_pnl_quote_units": -7049.086595396016,
      "turnover_quote_units": 48514.64387360729,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1855.6566201613293,
      "return_pct": -81.4434337983867,
      "cagr_pct": -81.47909579458816,
      "max_drawdown_pct": 82.4533083326208,
      "mean_exposure_while_solvent": 1.2768868386175365,
      "realized_annual_volatility_pct": 78.22334417414896,
      "trading_costs_quote_units": 149.17453109455022,
      "borrowing_costs_quote_units": 124.95678600038171,
      "price_pnl_quote_units": -7870.212062743737,
      "turnover_quote_units": 49724.84369818337,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2661.510518264874,
      "return_pct": -73.38489481735127,
      "cagr_pct": -73.4250998950701,
      "max_drawdown_pct": 74.78043689766696,
      "mean_exposure_while_solvent": 1.0559335371967744,
      "realized_annual_volatility_pct": 61.44943892881276,
      "trading_costs_quote_units": 238.32216120660323,
      "borrowing_costs_quote_units": 63.29064339760458,
      "price_pnl_quote_units": -7036.87667713092,
      "turnover_quote_units": 79440.72040220106,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3244.158948150162,
      "return_pct": -67.55841051849838,
      "cagr_pct": -67.60009275961217,
      "max_drawdown_pct": 69.46077823086216,
      "mean_exposure_while_solvent": 0.9696397338266911,
      "realized_annual_volatility_pct": 58.63335775251467,
      "trading_costs_quote_units": 89.94793890985812,
      "borrowing_costs_quote_units": 19.677374123589352,
      "price_pnl_quote_units": -6646.2157388163805,
      "turnover_quote_units": 29982.646303286027,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3412.0004828414717,
      "return_pct": -65.87999517158528,
      "cagr_pct": -65.92187074920919,
      "max_drawdown_pct": 67.63073476852811,
      "mean_exposure_while_solvent": 0.9152317082352414,
      "realized_annual_volatility_pct": 56.063305372635654,
      "trading_costs_quote_units": 86.54151279140707,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6501.45800436713,
      "turnover_quote_units": 28847.170930469016,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4700.256512442743,
      "return_pct": -52.997434875572566,
      "cagr_pct": -53.037944399440484,
      "max_drawdown_pct": 55.71187928294865,
      "mean_exposure_while_solvent": 0.7486263650749798,
      "realized_annual_volatility_pct": 46.31498986988268,
      "trading_costs_quote_units": 56.222131924925556,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5243.521355632334,
      "turnover_quote_units": 18740.71064164187,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3489.4258597458247,
      "return_pct": -65.10574140254175,
      "cagr_pct": -65.14767409715667,
      "max_drawdown_pct": 67.26219839678481,
      "mean_exposure_while_solvent": 0.9986301369863012,
      "realized_annual_volatility_pct": 61.85446190692665,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6480.663871061737,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2427.8837961271756,
      "return_pct": -75.72116203872824,
      "cagr_pct": -75.76038144134796,
      "max_drawdown_pct": 77.33189434249897,
      "mean_exposure_while_solvent": 1.2489884614831783,
      "realized_annual_volatility_pct": 77.46853257518664,
      "trading_costs_quote_units": 80.57991788529401,
      "borrowing_costs_quote_units": 127.81202969216687,
      "price_pnl_quote_units": -7363.7242562953625,
      "turnover_quote_units": 26859.972628431347,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1638.3534699277334,
      "return_pct": -83.61646530072267,
      "cagr_pct": -83.65027694462374,
      "max_drawdown_pct": 84.84551255652974,
      "mean_exposure_while_solvent": 1.499734432047014,
      "realized_annual_volatility_pct": 93.16696638172648,
      "trading_costs_quote_units": 134.7797831437091,
      "borrowing_costs_quote_units": 219.8233410908321,
      "price_pnl_quote_units": -8007.043405837707,
      "turnover_quote_units": 44926.594381236384,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4209.545051785869,
      "return_pct": -57.90454948214131,
      "cagr_pct": -57.94612586266381,
      "max_drawdown_pct": 58.32644371804283,
      "mean_exposure_while_solvent": 0.6993072115559815,
      "realized_annual_volatility_pct": 41.59358745152683,
      "trading_costs_quote_units": 140.58322946067895,
      "borrowing_costs_quote_units": 23.742744982688336,
      "price_pnl_quote_units": -5626.1289737707575,
      "turnover_quote_units": 46861.07648689295,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2735.557484957488,
      "return_pct": -72.64442515042512,
      "cagr_pct": -72.68489274420217,
      "max_drawdown_pct": 73.70358344763979,
      "mean_exposure_while_solvent": 1.012223533459994,
      "realized_annual_volatility_pct": 61.25540227051592,
      "trading_costs_quote_units": 145.32811081133084,
      "borrowing_costs_quote_units": 85.92992505301656,
      "price_pnl_quote_units": -7033.184479178172,
      "turnover_quote_units": 48442.70360377684,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1803.2570387729065,
      "return_pct": -81.96742961227093,
      "cagr_pct": -82.00267336234988,
      "max_drawdown_pct": 82.87425551495397,
      "mean_exposure_while_solvent": 1.2769323428262669,
      "realized_annual_volatility_pct": 78.22835959521728,
      "trading_costs_quote_units": 148.2873321099195,
      "borrowing_costs_quote_units": 247.48537996744307,
      "price_pnl_quote_units": -7800.97024914974,
      "turnover_quote_units": 49429.1107033065,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2623.1054876036724,
      "return_pct": -73.76894512396328,
      "cagr_pct": -73.8090048235702,
      "max_drawdown_pct": 75.02456334316966,
      "mean_exposure_while_solvent": 1.0559564109740471,
      "realized_annual_volatility_pct": 61.45148687819376,
      "trading_costs_quote_units": 237.76279475699695,
      "borrowing_costs_quote_units": 125.89836070918078,
      "price_pnl_quote_units": -7013.233356930163,
      "turnover_quote_units": 79254.26491899893,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3228.047963808748,
      "return_pct": -67.71952036191252,
      "cagr_pct": -67.76117890808729,
      "max_drawdown_pct": 69.54587655025396,
      "mean_exposure_while_solvent": 0.9696464281138578,
      "realized_annual_volatility_pct": 58.63409190534591,
      "trading_costs_quote_units": 89.90020544346059,
      "borrowing_costs_quote_units": 39.27268160679036,
      "price_pnl_quote_units": -6642.779149140991,
      "turnover_quote_units": 29966.7351478202,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3412.0004828414717,
      "return_pct": -65.87999517158528,
      "cagr_pct": -65.92187074920919,
      "max_drawdown_pct": 67.63073476852811,
      "mean_exposure_while_solvent": 0.9152317082352414,
      "realized_annual_volatility_pct": 56.063305372635654,
      "trading_costs_quote_units": 86.54151279140707,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6501.45800436713,
      "turnover_quote_units": 28847.170930469016,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 212,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4700.256512442743,
      "return_pct": -52.997434875572566,
      "cagr_pct": -53.037944399440484,
      "max_drawdown_pct": 55.71187928294865,
      "mean_exposure_while_solvent": 0.7486263650749798,
      "realized_annual_volatility_pct": 46.31498986988268,
      "trading_costs_quote_units": 56.222131924925556,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5243.521355632334,
      "turnover_quote_units": 18740.71064164187,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3489.4258597458247,
      "return_pct": -65.10574140254175,
      "cagr_pct": -65.14767409715667,
      "max_drawdown_pct": 67.26219839678481,
      "mean_exposure_while_solvent": 0.9986301369863012,
      "realized_annual_volatility_pct": 61.85446190692665,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6480.663871061737,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2367.7428234383506,
      "return_pct": -76.3225717656165,
      "cagr_pct": -76.36149683752981,
      "max_drawdown_pct": 77.83202453185099,
      "mean_exposure_while_solvent": 1.2490242031867698,
      "realized_annual_volatility_pct": 77.47139974903534,
      "trading_costs_quote_units": 80.2854970544896,
      "borrowing_costs_quote_units": 253.27622433195103,
      "price_pnl_quote_units": -7298.695455175204,
      "turnover_quote_units": 26761.83235149655,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1558.0599869938455,
      "return_pct": -84.41940013006155,
      "cagr_pct": -84.45244700409043,
      "max_drawdown_pct": 85.5080582865837,
      "mean_exposure_while_solvent": 1.499820420087727,
      "realized_annual_volatility_pct": 93.17390879920424,
      "trading_costs_quote_units": 133.51441718092144,
      "borrowing_costs_quote_units": 432.22518387310623,
      "price_pnl_quote_units": -7876.200411952132,
      "turnover_quote_units": 44504.805726973755,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4313.149458176198,
      "return_pct": -56.86850541823802,
      "cagr_pct": -56.90990855208974,
      "max_drawdown_pct": 57.59346028262162,
      "mean_exposure_while_solvent": 0.7052187705862535,
      "realized_annual_volatility_pct": 41.398273593271334,
      "trading_costs_quote_units": 28.267094162135393,
      "borrowing_costs_quote_units": 6.221599490477679,
      "price_pnl_quote_units": -5652.361848171186,
      "turnover_quote_units": 47111.823603559016,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2818.6890285938516,
      "return_pct": -71.81310971406148,
      "cagr_pct": -71.85384479095231,
      "max_drawdown_pct": 73.16243895612035,
      "mean_exposure_while_solvent": 1.0193397742476626,
      "realized_annual_volatility_pct": 60.93274743841334,
      "trading_costs_quote_units": 29.397743776325086,
      "borrowing_costs_quote_units": 22.241259595191433,
      "price_pnl_quote_units": -7129.671968034623,
      "turnover_quote_units": 48996.23962720855,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 1914.309520006436,
      "return_pct": -80.85690479993563,
      "cagr_pct": -80.89301494651583,
      "max_drawdown_pct": 82.08137303553522,
      "mean_exposure_while_solvent": 1.2845225941378111,
      "realized_annual_volatility_pct": 77.82530270840122,
      "trading_costs_quote_units": 30.155163485186414,
      "borrowing_costs_quote_units": 64.85813091719005,
      "price_pnl_quote_units": -7990.677185591177,
      "turnover_quote_units": 50258.605808644075,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2842.7533888389703,
      "return_pct": -71.5724661116103,
      "cagr_pct": -71.6132733562417,
      "max_drawdown_pct": 73.24923200304336,
      "mean_exposure_while_solvent": 1.0615994066161876,
      "realized_annual_volatility_pct": 61.15997103141525,
      "trading_costs_quote_units": 49.06014774527839,
      "borrowing_costs_quote_units": 33.2724792681722,
      "price_pnl_quote_units": -7074.913984147592,
      "turnover_quote_units": 81766.9129087974,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3267.2770907069807,
      "return_pct": -67.32722909293018,
      "cagr_pct": -67.36894373966797,
      "max_drawdown_pct": 69.4033702140096,
      "mean_exposure_while_solvent": 0.9782631931474964,
      "realized_annual_volatility_pct": 58.4007190328136,
      "trading_costs_quote_units": 17.92416259954111,
      "borrowing_costs_quote_units": 10.713211413270692,
      "price_pnl_quote_units": -6704.085535280206,
      "turnover_quote_units": 29873.604332568513,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3441.012932260462,
      "return_pct": -65.58987067739538,
      "cagr_pct": -65.6317699840157,
      "max_drawdown_pct": 67.5368756055513,
      "mean_exposure_while_solvent": 0.9206456557075414,
      "realized_annual_volatility_pct": 55.81155201993361,
      "trading_costs_quote_units": 17.138206795857606,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6541.848860943676,
      "turnover_quote_units": 28563.67799309602,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 210,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4729.92428193647,
      "return_pct": -52.70075718063529,
      "cagr_pct": -52.74118279521478,
      "max_drawdown_pct": 55.51766030143317,
      "mean_exposure_while_solvent": 0.7495696497052514,
      "realized_annual_volatility_pct": 46.010759325431465,
      "trading_costs_quote_units": 11.24252599325965,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5258.833192070268,
      "turnover_quote_units": 18737.543322099424,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3503.035299003297,
      "return_pct": -64.96964700996703,
      "cagr_pct": -65.01158770446442,
      "max_drawdown_pct": 67.21392902034935,
      "mean_exposure_while_solvent": 0.9995433789954337,
      "realized_annual_volatility_pct": 61.40445276764386,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6490.968298838018,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2488.7287682315227,
      "return_pct": -75.11271231768477,
      "cagr_pct": -75.15221219056058,
      "max_drawdown_pct": 76.8804614818636,
      "mean_exposure_while_solvent": 1.2496577659640855,
      "realized_annual_volatility_pct": 76.84874273548714,
      "trading_costs_quote_units": 16.12531446812739,
      "borrowing_costs_quote_units": 64.68319397438933,
      "price_pnl_quote_units": -7430.462723325948,
      "turnover_quote_units": 26875.52411354571,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 1720.1610447974274,
      "return_pct": -82.79838955202572,
      "cagr_pct": -82.83293420450943,
      "max_drawdown_pct": 84.20646786952102,
      "mean_exposure_while_solvent": 1.4999418163706355,
      "realized_annual_volatility_pct": 92.35457688737378,
      "trading_costs_quote_units": 27.06849975758642,
      "borrowing_costs_quote_units": 112.30942083779371,
      "price_pnl_quote_units": -8140.4610346071995,
      "turnover_quote_units": 45114.16626264404,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4307.604232114513,
      "return_pct": -56.923957678854876,
      "cagr_pct": -56.96537081158031,
      "max_drawdown_pct": 57.61254247267769,
      "mean_exposure_while_solvent": 0.7052207374732866,
      "realized_annual_volatility_pct": 41.3985961384096,
      "trading_costs_quote_units": 28.26244798614604,
      "borrowing_costs_quote_units": 12.436670510905513,
      "price_pnl_quote_units": -5651.6966493884365,
      "turnover_quote_units": 47104.079976910005,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2804.784825262608,
      "return_pct": -71.95215174737393,
      "cagr_pct": -71.99284405837926,
      "max_drawdown_pct": 73.25360016102081,
      "mean_exposure_while_solvent": 1.0193474963238813,
      "realized_annual_volatility_pct": 60.933846298315906,
      "trading_costs_quote_units": 29.373782062406733,
      "borrowing_costs_quote_units": 44.39951420841103,
      "price_pnl_quote_units": -7121.441878466566,
      "turnover_quote_units": 48956.303437344555,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 1886.4409639646626,
      "return_pct": -81.13559036035338,
      "cagr_pct": -81.17149016752275,
      "max_drawdown_pct": 82.30167197310996,
      "mean_exposure_while_solvent": 1.2845458768152196,
      "realized_annual_volatility_pct": 77.82828812796889,
      "trading_costs_quote_units": 30.063014786607987,
      "borrowing_costs_quote_units": 129.06610823665616,
      "price_pnl_quote_units": -7954.429913012069,
      "turnover_quote_units": 50105.024644346566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2821.9545048403934,
      "return_pct": -71.78045495159606,
      "cagr_pct": -71.82119995858827,
      "max_drawdown_pct": 73.38048647590519,
      "mean_exposure_while_solvent": 1.0616109943717407,
      "realized_annual_volatility_pct": 61.16114366890838,
      "trading_costs_quote_units": 48.99865561188331,
      "borrowing_costs_quote_units": 66.36056927186925,
      "price_pnl_quote_units": -7062.686270275852,
      "turnover_quote_units": 81664.42601980553,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3258.399098368005,
      "return_pct": -67.41600901631995,
      "cagr_pct": -67.45771144007122,
      "max_drawdown_pct": 69.44795109586957,
      "mean_exposure_while_solvent": 0.978266911373698,
      "realized_annual_volatility_pct": 58.401133637424266,
      "trading_costs_quote_units": 17.918612402764488,
      "borrowing_costs_quote_units": 21.401806787499318,
      "price_pnl_quote_units": -6702.2804824417335,
      "turnover_quote_units": 29864.354004607485,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3441.012932260462,
      "return_pct": -65.58987067739538,
      "cagr_pct": -65.6317699840157,
      "max_drawdown_pct": 67.5368756055513,
      "mean_exposure_while_solvent": 0.9206456557075414,
      "realized_annual_volatility_pct": 55.81155201993361,
      "trading_costs_quote_units": 17.138206795857606,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6541.848860943676,
      "turnover_quote_units": 28563.67799309602,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 210,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4729.92428193647,
      "return_pct": -52.70075718063529,
      "cagr_pct": -52.74118279521478,
      "max_drawdown_pct": 55.51766030143317,
      "mean_exposure_while_solvent": 0.7495696497052514,
      "realized_annual_volatility_pct": 46.010759325431465,
      "trading_costs_quote_units": 11.24252599325965,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5258.833192070268,
      "turnover_quote_units": 18737.543322099424,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3503.035299003297,
      "return_pct": -64.96964700996703,
      "cagr_pct": -65.01158770446442,
      "max_drawdown_pct": 67.21392902034935,
      "mean_exposure_while_solvent": 0.9995433789954337,
      "realized_annual_volatility_pct": 61.40445276764386,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6490.968298838018,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2457.7105945351145,
      "return_pct": -75.42289405464886,
      "cagr_pct": -75.46225309483225,
      "max_drawdown_pct": 77.13671827717731,
      "mean_exposure_while_solvent": 1.2496756162672709,
      "realized_annual_volatility_pct": 76.85043218463746,
      "trading_costs_quote_units": 16.089019865644374,
      "borrowing_costs_quote_units": 128.76751471766318,
      "price_pnl_quote_units": -7397.432870881565,
      "turnover_quote_units": 26815.033109407283,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 1677.4891088467011,
      "return_pct": -83.22510891153298,
      "cagr_pct": -83.25927689317119,
      "max_drawdown_pct": 84.55520353366404,
      "mean_exposure_while_solvent": 1.499984714617589,
      "realized_annual_volatility_pct": 92.35865682873468,
      "trading_costs_quote_units": 26.92396431818154,
      "borrowing_costs_quote_units": 222.6934536606222,
      "price_pnl_quote_units": -8072.893473174463,
      "turnover_quote_units": 44873.27386363594,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4296.532544948337,
      "return_pct": -57.03467455051663,
      "cagr_pct": -57.07610740311604,
      "max_drawdown_pct": 57.65068966948353,
      "mean_exposure_while_solvent": 0.7052246719422284,
      "realized_annual_volatility_pct": 41.39924782091936,
      "trading_costs_quote_units": 28.253166727869893,
      "borrowing_costs_quote_units": 24.847251361186963,
      "price_pnl_quote_units": -5650.367036962601,
      "turnover_quote_units": 47088.611213116434,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2777.1750701876854,
      "return_pct": -72.22824929812315,
      "cagr_pct": -72.26885435168808,
      "max_drawdown_pct": 73.43503732085857,
      "mean_exposure_while_solvent": 1.0193629433955909,
      "realized_annual_volatility_pct": 60.93605970730115,
      "trading_costs_quote_units": 29.325984168675742,
      "borrowing_costs_quote_units": 88.46840590529828,
      "price_pnl_quote_units": -7105.030539738349,
      "turnover_quote_units": 48876.64028112616,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 1831.9013561606253,
      "return_pct": -81.68098643839375,
      "cagr_pct": -81.71646094476849,
      "max_drawdown_pct": 82.73428574359659,
      "mean_exposure_while_solvent": 1.2845924512134725,
      "realized_annual_volatility_pct": 77.83427422606684,
      "trading_costs_quote_units": 29.88063722242463,
      "borrowing_costs_quote_units": 255.56221510863406,
      "price_pnl_quote_units": -7882.655791508304,
      "turnover_quote_units": 49801.062037374424,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2780.8017285383985,
      "return_pct": -72.19198271461602,
      "cagr_pct": -72.23259940793525,
      "max_drawdown_pct": 73.64112963828732,
      "mean_exposure_while_solvent": 1.0616341743302733,
      "realized_annual_volatility_pct": 61.16350901524959,
      "trading_costs_quote_units": 48.876417860984425,
      "borrowing_costs_quote_units": 131.98828378970728,
      "price_pnl_quote_units": -7038.333569810897,
      "turnover_quote_units": 81460.69643497407,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3240.7116971395726,
      "return_pct": -67.59288302860426,
      "cagr_pct": -67.63456027672115,
      "max_drawdown_pct": 69.5369362172289,
      "mean_exposure_while_solvent": 0.9782743488802254,
      "realized_annual_volatility_pct": 58.401967578985726,
      "trading_costs_quote_units": 17.90753814678715,
      "borrowing_costs_quote_units": 42.7053816517179,
      "price_pnl_quote_units": -6698.675383061933,
      "turnover_quote_units": 29845.89691131186,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3441.012932260462,
      "return_pct": -65.58987067739538,
      "cagr_pct": -65.6317699840157,
      "max_drawdown_pct": 67.5368756055513,
      "mean_exposure_while_solvent": 0.9206456557075414,
      "realized_annual_volatility_pct": 55.81155201993361,
      "trading_costs_quote_units": 17.138206795857606,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6541.848860943676,
      "turnover_quote_units": 28563.67799309602,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 210,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4729.92428193647,
      "return_pct": -52.70075718063529,
      "cagr_pct": -52.74118279521478,
      "max_drawdown_pct": 55.51766030143317,
      "mean_exposure_while_solvent": 0.7495696497052514,
      "realized_annual_volatility_pct": 46.010759325431465,
      "trading_costs_quote_units": 11.24252599325965,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5258.833192070268,
      "turnover_quote_units": 18737.543322099424,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3503.035299003297,
      "return_pct": -64.96964700996703,
      "cagr_pct": -65.01158770446442,
      "max_drawdown_pct": 67.21392902034935,
      "mean_exposure_while_solvent": 0.9995433789954337,
      "realized_annual_volatility_pct": 61.40445276764386,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6490.968298838018,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2396.8152993761487,
      "return_pct": -76.03184700623851,
      "cagr_pct": -76.07091650958385,
      "max_drawdown_pct": 77.6408578194193,
      "mean_exposure_while_solvent": 1.2497113223821839,
      "realized_annual_volatility_pct": 76.85381203583862,
      "trading_costs_quote_units": 16.017945504375312,
      "borrowing_costs_quote_units": 255.16446097642213,
      "price_pnl_quote_units": -7332.002294143046,
      "turnover_quote_units": 26696.57584062551,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 1595.2718145113574,
      "return_pct": -84.04728185488642,
      "cagr_pct": -84.08068888640076,
      "max_drawdown_pct": 85.2299320208216,
      "mean_exposure_while_solvent": 1.500070529779361,
      "realized_annual_volatility_pct": 92.36681976955666,
      "trading_costs_quote_units": 26.64165373025542,
      "borrowing_costs_quote_units": 437.8382227541122,
      "price_pnl_quote_units": -7940.248309004299,
      "turnover_quote_units": 44402.75621709233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4306.369786379013,
      "return_pct": -56.93630213620987,
      "cagr_pct": -56.977717483733144,
      "max_drawdown_pct": 57.69012952296497,
      "mean_exposure_while_solvent": 0.7035864359090365,
      "realized_annual_volatility_pct": 41.45608898134434,
      "trading_costs_quote_units": 28.298302637524387,
      "borrowing_costs_quote_units": 6.122534464764177,
      "price_pnl_quote_units": -5659.209376518715,
      "turnover_quote_units": 47163.837729207284,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2842.1423647089205,
      "return_pct": -71.5785763529108,
      "cagr_pct": -71.6193817939747,
      "max_drawdown_pct": 72.96860771305988,
      "mean_exposure_while_solvent": 1.018100571673027,
      "realized_annual_volatility_pct": 61.00950564460437,
      "trading_costs_quote_units": 29.32752887029876,
      "borrowing_costs_quote_units": 22.242964942618475,
      "price_pnl_quote_units": -7106.287141478182,
      "turnover_quote_units": 48879.21478383123,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1926.7183018157243,
      "return_pct": -80.73281698184276,
      "cagr_pct": -80.76901929055397,
      "max_drawdown_pct": 81.94624419298837,
      "mean_exposure_while_solvent": 1.283979562645062,
      "realized_annual_volatility_pct": 77.96015711989862,
      "trading_costs_quote_units": 30.199582473285293,
      "borrowing_costs_quote_units": 64.70163307171553,
      "price_pnl_quote_units": -7978.380482639256,
      "turnover_quote_units": 50332.63745547546,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2780.175323129983,
      "return_pct": -72.19824676870017,
      "cagr_pct": -72.23886145543226,
      "max_drawdown_pct": 73.87125209031649,
      "mean_exposure_while_solvent": 1.0603468326875238,
      "realized_annual_volatility_pct": 61.26717766298254,
      "trading_costs_quote_units": 48.363758108745806,
      "borrowing_costs_quote_units": 32.79233394334626,
      "price_pnl_quote_units": -7138.668584817921,
      "turnover_quote_units": 80606.26351457635,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3282.2618641303834,
      "return_pct": -67.17738135869617,
      "cagr_pct": -67.21911601159272,
      "max_drawdown_pct": 69.24342186159839,
      "mean_exposure_while_solvent": 0.9771084677335734,
      "realized_annual_volatility_pct": 58.44951712782428,
      "trading_costs_quote_units": 18.10107254117679,
      "borrowing_costs_quote_units": 10.703626118945365,
      "price_pnl_quote_units": -6688.933437209476,
      "turnover_quote_units": 30168.4542352947,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3453.043891687508,
      "return_pct": -65.46956108312492,
      "cagr_pct": -65.51146940900927,
      "max_drawdown_pct": 67.40017163091385,
      "mean_exposure_while_solvent": 0.919699495521838,
      "realized_annual_volatility_pct": 55.856724618680786,
      "trading_costs_quote_units": 17.14913867522519,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6529.806969637273,
      "turnover_quote_units": 28581.89779204198,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 210,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4727.027844761238,
      "return_pct": -52.72972155238762,
      "cagr_pct": -52.77015545281098,
      "max_drawdown_pct": 55.5757419512672,
      "mean_exposure_while_solvent": 0.7486248936390334,
      "realized_annual_volatility_pct": 45.96526149040463,
      "trading_costs_quote_units": 11.237886913467198,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5261.7342683253,
      "turnover_quote_units": 18729.811522445303,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3501.2318148977593,
      "return_pct": -64.9876818510224,
      "cagr_pct": -65.02962152015544,
      "max_drawdown_pct": 67.21392902034935,
      "mean_exposure_while_solvent": 0.9986301369863012,
      "realized_annual_volatility_pct": 61.38956775025945,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6492.771782943529,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2488.096974287736,
      "return_pct": -75.11903025712265,
      "cagr_pct": -75.15852730566394,
      "max_drawdown_pct": 76.8735451697746,
      "mean_exposure_while_solvent": 1.2489715419517313,
      "realized_annual_volatility_pct": 76.88495796042096,
      "trading_costs_quote_units": 16.171007750267766,
      "borrowing_costs_quote_units": 64.61390646134957,
      "price_pnl_quote_units": -7431.11811150066,
      "turnover_quote_units": 26951.67958377964,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1720.3725194414171,
      "return_pct": -82.79627480558582,
      "cagr_pct": -82.83082129445482,
      "max_drawdown_pct": 84.19571360817088,
      "mean_exposure_while_solvent": 1.4996918610827723,
      "realized_annual_volatility_pct": 92.46196114146179,
      "trading_costs_quote_units": 27.20022507391124,
      "borrowing_costs_quote_units": 112.05660396037837,
      "price_pnl_quote_units": -8140.37065152429,
      "turnover_quote_units": 45333.7084565187,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4300.925604886969,
      "return_pct": -56.990743951130305,
      "cagr_pct": -57.03216901816863,
      "max_drawdown_pct": 57.70922616831604,
      "mean_exposure_while_solvent": 0.7035883327442803,
      "realized_annual_volatility_pct": 41.456443916868544,
      "trading_costs_quote_units": 28.294389922649046,
      "borrowing_costs_quote_units": 12.23877305674226,
      "price_pnl_quote_units": -5658.541232133645,
      "turnover_quote_units": 47157.31653774834,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2828.1885650982504,
      "return_pct": -71.7181143490175,
      "cagr_pct": -71.75887819362458,
      "max_drawdown_pct": 73.0597584420774,
      "mean_exposure_while_solvent": 1.0181082348647907,
      "realized_annual_volatility_pct": 61.010413755768056,
      "trading_costs_quote_units": 29.305102779206365,
      "borrowing_costs_quote_units": 44.4031061357289,
      "price_pnl_quote_units": -7098.103225986824,
      "turnover_quote_units": 48841.837965343955,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1898.7132528899065,
      "return_pct": -81.01286747110093,
      "cagr_pct": -81.04886047889974,
      "max_drawdown_pct": 82.16803490505187,
      "mean_exposure_while_solvent": 1.2840028662201846,
      "realized_annual_volatility_pct": 77.96263121711657,
      "trading_costs_quote_units": 30.10725914411463,
      "borrowing_costs_quote_units": 128.75350432258023,
      "price_pnl_quote_units": -7942.425983643395,
      "turnover_quote_units": 50178.765240191016,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2759.892137408326,
      "return_pct": -72.40107862591674,
      "cagr_pct": -72.44162746589463,
      "max_drawdown_pct": 73.99935645928257,
      "mean_exposure_while_solvent": 1.0603583607339635,
      "realized_annual_volatility_pct": 61.268184721545474,
      "trading_costs_quote_units": 48.30487191162732,
      "borrowing_costs_quote_units": 65.40445361084625,
      "price_pnl_quote_units": -7126.398537069219,
      "turnover_quote_units": 80508.11985271225,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3273.3851373987773,
      "return_pct": -67.26614862601224,
      "cagr_pct": -67.30787152214397,
      "max_drawdown_pct": 69.28800878409693,
      "mean_exposure_while_solvent": 0.9771121564321235,
      "realized_annual_volatility_pct": 58.449862763524116,
      "trading_costs_quote_units": 18.095949986154956,
      "borrowing_costs_quote_units": 21.38276843527534,
      "price_pnl_quote_units": -6687.13614417979,
      "turnover_quote_units": 30159.916643591616,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3453.043891687508,
      "return_pct": -65.46956108312492,
      "cagr_pct": -65.51146940900927,
      "max_drawdown_pct": 67.40017163091385,
      "mean_exposure_while_solvent": 0.919699495521838,
      "realized_annual_volatility_pct": 55.856724618680786,
      "trading_costs_quote_units": 17.14913867522519,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6529.806969637273,
      "turnover_quote_units": 28581.89779204198,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 210,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4727.027844761238,
      "return_pct": -52.72972155238762,
      "cagr_pct": -52.77015545281098,
      "max_drawdown_pct": 55.5757419512672,
      "mean_exposure_while_solvent": 0.7486248936390334,
      "realized_annual_volatility_pct": 45.96526149040463,
      "trading_costs_quote_units": 11.237886913467198,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5261.7342683253,
      "turnover_quote_units": 18729.811522445303,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3501.2318148977593,
      "return_pct": -64.9876818510224,
      "cagr_pct": -65.02962152015544,
      "max_drawdown_pct": 67.21392902034935,
      "mean_exposure_while_solvent": 0.9986301369863012,
      "realized_annual_volatility_pct": 61.38956775025945,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6492.771782943529,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2457.1125848407537,
      "return_pct": -75.42887415159247,
      "cagr_pct": -75.4682304328866,
      "max_drawdown_pct": 77.12988482045007,
      "mean_exposure_while_solvent": 1.2489894098759573,
      "realized_annual_volatility_pct": 76.88636236961615,
      "trading_costs_quote_units": 16.1406134733975,
      "borrowing_costs_quote_units": 128.6300759114634,
      "price_pnl_quote_units": -7398.116725774403,
      "turnover_quote_units": 26901.022455662503,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1677.7302157493982,
      "return_pct": -83.22269784250602,
      "cagr_pct": -83.25686798692836,
      "max_drawdown_pct": 84.54469625019122,
      "mean_exposure_while_solvent": 1.4997348446571233,
      "realized_annual_volatility_pct": 92.46535885772512,
      "trading_costs_quote_units": 27.069145310227405,
      "borrowing_costs_quote_units": 222.19298101369807,
      "price_pnl_quote_units": -8073.007657926697,
      "turnover_quote_units": 45115.24218371242,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4290.055341635155,
      "return_pct": -57.09944658364845,
      "cagr_pct": -57.140890821803694,
      "max_drawdown_pct": 57.74740219473071,
      "mean_exposure_while_solvent": 0.7035921270704425,
      "realized_annual_volatility_pct": 41.457160230023696,
      "trading_costs_quote_units": 28.286573149297503,
      "borrowing_costs_quote_units": 24.452385527014403,
      "price_pnl_quote_units": -5657.205699688549,
      "turnover_quote_units": 47144.28858216247,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2800.47871040326,
      "return_pct": -71.9952128959674,
      "cagr_pct": -72.03589180301132,
      "max_drawdown_pct": 73.24118520521215,
      "mean_exposure_while_solvent": 1.0181235641292408,
      "realized_annual_volatility_pct": 61.01224541239737,
      "trading_costs_quote_units": 29.261132013890908,
      "borrowing_costs_quote_units": 88.47629896726343,
      "price_pnl_quote_units": -7081.783858615571,
      "turnover_quote_units": 48768.55335648488,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1843.9042622955562,
      "return_pct": -81.56095737704445,
      "cagr_pct": -81.59652705359906,
      "max_drawdown_pct": 82.60358700247312,
      "mean_exposure_while_solvent": 1.2840494824151218,
      "realized_annual_volatility_pct": 77.96759329349237,
      "trading_costs_quote_units": 29.925095454501378,
      "borrowing_costs_quote_units": 254.93856327596467,
      "price_pnl_quote_units": -7871.23207897397,
      "turnover_quote_units": 49875.15909083578,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2719.7574452270155,
      "return_pct": -72.80242554772984,
      "cagr_pct": -72.8428390679401,
      "max_drawdown_pct": 74.25374862099056,
      "mean_exposure_while_solvent": 1.0603814212359728,
      "realized_annual_volatility_pct": 61.27021861100265,
      "trading_costs_quote_units": 48.18892252839307,
      "borrowing_costs_quote_units": 130.0926106183243,
      "price_pnl_quote_units": -7101.961021626246,
      "turnover_quote_units": 80314.87088065503,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3255.6999260596267,
      "return_pct": -67.44300073940373,
      "cagr_pct": -67.48469939228396,
      "max_drawdown_pct": 69.37700695055655,
      "mean_exposure_while_solvent": 0.9771195348696967,
      "realized_annual_volatility_pct": 58.45055861514696,
      "trading_costs_quote_units": 18.085728668144462,
      "borrowing_costs_quote_units": 42.66783157014951,
      "price_pnl_quote_units": -6683.546513702084,
      "turnover_quote_units": 30142.881113574076,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3453.043891687508,
      "return_pct": -65.46956108312492,
      "cagr_pct": -65.51146940900927,
      "max_drawdown_pct": 67.40017163091385,
      "mean_exposure_while_solvent": 0.919699495521838,
      "realized_annual_volatility_pct": 55.856724618680786,
      "trading_costs_quote_units": 17.14913867522519,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6529.806969637273,
      "turnover_quote_units": 28581.89779204198,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 210,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4727.027844761238,
      "return_pct": -52.72972155238762,
      "cagr_pct": -52.77015545281098,
      "max_drawdown_pct": 55.5757419512672,
      "mean_exposure_while_solvent": 0.7486248936390334,
      "realized_annual_volatility_pct": 45.96526149040463,
      "trading_costs_quote_units": 11.237886913467198,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5261.7342683253,
      "turnover_quote_units": 18729.811522445303,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3501.2318148977593,
      "return_pct": -64.9876818510224,
      "cagr_pct": -65.02962152015544,
      "max_drawdown_pct": 67.21392902034935,
      "mean_exposure_while_solvent": 0.9986301369863012,
      "realized_annual_volatility_pct": 61.38956775025945,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6492.771782943529,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2396.282449241558,
      "return_pct": -76.03717550758442,
      "cagr_pct": -76.07624240010513,
      "max_drawdown_pct": 77.63418668093392,
      "mean_exposure_while_solvent": 1.2490251512396269,
      "realized_annual_volatility_pct": 76.88917153731725,
      "trading_costs_quote_units": 16.08151704028456,
      "borrowing_costs_quote_units": 254.89405550021877,
      "price_pnl_quote_units": -7332.741978217963,
      "turnover_quote_units": 26802.528400474286,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1595.5671336653445,
      "return_pct": -84.04432866334656,
      "cagr_pct": -84.07773851320941,
      "max_drawdown_pct": 85.21990120372519,
      "mean_exposure_while_solvent": 1.4998208305274334,
      "realized_annual_volatility_pct": 92.4721557677018,
      "trading_costs_quote_units": 26.813763797205617,
      "borrowing_costs_quote_units": 436.85742219341233,
      "price_pnl_quote_units": -7940.761680344044,
      "turnover_quote_units": 44689.6063286761,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4241.661655633159,
      "return_pct": -57.5833834436684,
      "cagr_pct": -57.62490920098742,
      "max_drawdown_pct": 58.09658214910806,
      "mean_exposure_while_solvent": 0.7052187705862535,
      "realized_annual_volatility_pct": 41.40379257417423,
      "trading_costs_quote_units": 140.29688036648983,
      "borrowing_costs_quote_units": 6.1310227644745074,
      "price_pnl_quote_units": -5611.91044123587,
      "turnover_quote_units": 46765.62678882989,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2763.8722378457064,
      "return_pct": -72.36127762154294,
      "cagr_pct": -72.40183951622626,
      "max_drawdown_pct": 73.54577624711641,
      "mean_exposure_while_solvent": 1.0193397742476626,
      "realized_annual_volatility_pct": 60.93519067607792,
      "trading_costs_quote_units": 145.84694471907437,
      "borrowing_costs_quote_units": 21.96346511262392,
      "price_pnl_quote_units": -7068.317352322611,
      "turnover_quote_units": 48615.64823969146,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 1873.7372044499623,
      "return_pct": -81.26262795550038,
      "cagr_pct": -81.29843032547937,
      "max_drawdown_pct": 82.39489574411716,
      "mean_exposure_while_solvent": 1.2845225941378111,
      "realized_annual_volatility_pct": 77.83558891231948,
      "trading_costs_quote_units": 149.58786852978827,
      "borrowing_costs_quote_units": 64.14856586707897,
      "price_pnl_quote_units": -7912.526361153181,
      "turnover_quote_units": 49862.62284326273,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2749.0853950423134,
      "return_pct": -72.50914604957687,
      "cagr_pct": -72.54965911271067,
      "max_drawdown_pct": 73.96365813794843,
      "mean_exposure_while_solvent": 1.0615994066161876,
      "realized_annual_volatility_pct": 61.172777633079356,
      "trading_costs_quote_units": 242.09407471136956,
      "borrowing_costs_quote_units": 32.577746288690406,
      "price_pnl_quote_units": -6976.242783957615,
      "turnover_quote_units": 80698.0249037898,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3231.538010478689,
      "return_pct": -67.6846198952131,
      "cagr_pct": -67.72628365206182,
      "max_drawdown_pct": 69.65110301506449,
      "mean_exposure_while_solvent": 0.9782631931474964,
      "realized_annual_volatility_pct": 58.403571792205774,
      "trading_costs_quote_units": 89.19345210002301,
      "borrowing_costs_quote_units": 10.615616501397065,
      "price_pnl_quote_units": -6668.652920919887,
      "turnover_quote_units": 29731.150700007674,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3409.272398898188,
      "return_pct": -65.90727601101813,
      "cagr_pct": -65.9491492128321,
      "max_drawdown_pct": 67.7624919828405,
      "mean_exposure_while_solvent": 0.9206456557075414,
      "realized_annual_volatility_pct": 55.816874155350725,
      "trading_costs_quote_units": 85.32286709253862,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6505.404734009255,
      "turnover_quote_units": 28440.955697512865,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 210,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 4703.139712882591,
      "return_pct": -52.968602871174085,
      "cagr_pct": -53.009104334124366,
      "max_drawdown_pct": 55.63608766249555,
      "mean_exposure_while_solvent": 0.7495696497052514,
      "realized_annual_volatility_pct": 46.012378345634225,
      "trading_costs_quote_units": 56.04821376552105,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5240.812073351876,
      "turnover_quote_units": 18682.737921840337,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 3494.6531607005973,
      "return_pct": -65.05346839299403,
      "cagr_pct": -65.09540423188496,
      "max_drawdown_pct": 67.21392902034935,
      "mean_exposure_while_solvent": 0.9995433789954337,
      "realized_annual_volatility_pct": 61.40496777459782,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6475.4365701069855,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 2465.1730657187954,
      "return_pct": -75.34826934281205,
      "cagr_pct": -75.387662671187,
      "max_drawdown_pct": 77.02306883196479,
      "mean_exposure_while_solvent": 1.2496577659640855,
      "realized_annual_volatility_pct": 76.85184924263079,
      "trading_costs_quote_units": 80.29647892458183,
      "borrowing_costs_quote_units": 64.31880148147849,
      "price_pnl_quote_units": -7390.211653875165,
      "turnover_quote_units": 26765.49297486061,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 1687.2930345706638,
      "return_pct": -83.12706965429336,
      "cagr_pct": -83.16132526116363,
      "max_drawdown_pct": 84.44023555778433,
      "mean_exposure_while_solvent": 1.4999418163706355,
      "realized_annual_volatility_pct": 92.36177552695855,
      "trading_costs_quote_units": 134.40352522145423,
      "borrowing_costs_quote_units": 111.25034102561759,
      "price_pnl_quote_units": -8067.053099182245,
      "turnover_quote_units": 44801.17507381805,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4236.215395024641,
      "return_pct": -57.63784604975359,
      "cagr_pct": -57.67938058779969,
      "max_drawdown_pct": 58.115424833651616,
      "mean_exposure_while_solvent": 0.7052207374732866,
      "realized_annual_volatility_pct": 41.40411740739345,
      "trading_costs_quote_units": 140.2740857858138,
      "borrowing_costs_quote_units": 12.255627458339493,
      "price_pnl_quote_units": -5611.2548917311915,
      "turnover_quote_units": 46758.02859527124,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2750.236927240792,
      "return_pct": -72.49763072759208,
      "cagr_pct": -72.53814762604667,
      "max_drawdown_pct": 73.63562662770194,
      "mean_exposure_while_solvent": 1.0193474963238813,
      "realized_annual_volatility_pct": 60.936294644978325,
      "trading_costs_quote_units": 145.72903054445553,
      "borrowing_costs_quote_units": 43.84528712143816,
      "price_pnl_quote_units": -7060.188755093333,
      "turnover_quote_units": 48576.3435148185,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 1846.4563739318423,
      "return_pct": -81.53543626068158,
      "cagr_pct": -81.57102605760264,
      "max_drawdown_pct": 82.61137315827223,
      "mean_exposure_while_solvent": 1.2845458768152196,
      "realized_annual_volatility_pct": 77.838596505524,
      "trading_costs_quote_units": 149.13397195816532,
      "borrowing_costs_quote_units": 127.65676677076667,
      "price_pnl_quote_units": -7876.75288733922,
      "turnover_quote_units": 49711.32398605512,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2728.970661998061,
      "return_pct": -72.71029338001938,
      "cagr_pct": -72.75073855824003,
      "max_drawdown_pct": 74.09142322027536,
      "mean_exposure_while_solvent": 1.0616109943717407,
      "realized_annual_volatility_pct": 61.17395771782172,
      "trading_costs_quote_units": 241.79380105628957,
      "borrowing_costs_quote_units": 64.97621891806254,
      "price_pnl_quote_units": -6964.259318027595,
      "turnover_quote_units": 80597.93368542979,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3222.763619684763,
      "return_pct": -67.77236380315237,
      "cagr_pct": -67.81401437772419,
      "max_drawdown_pct": 69.69529457087222,
      "mean_exposure_while_solvent": 0.978266911373698,
      "realized_annual_volatility_pct": 58.40398817375253,
      "trading_costs_quote_units": 89.16608122353556,
      "borrowing_costs_quote_units": 21.20688726414844,
      "price_pnl_quote_units": -6666.863411827561,
      "turnover_quote_units": 29722.02707451185,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3409.272398898188,
      "return_pct": -65.90727601101813,
      "cagr_pct": -65.9491492128321,
      "max_drawdown_pct": 67.7624919828405,
      "mean_exposure_while_solvent": 0.9206456557075414,
      "realized_annual_volatility_pct": 55.816874155350725,
      "trading_costs_quote_units": 85.32286709253862,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6505.404734009255,
      "turnover_quote_units": 28440.955697512865,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 210,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 4703.139712882591,
      "return_pct": -52.968602871174085,
      "cagr_pct": -53.009104334124366,
      "max_drawdown_pct": 55.63608766249555,
      "mean_exposure_while_solvent": 0.7495696497052514,
      "realized_annual_volatility_pct": 46.012378345634225,
      "trading_costs_quote_units": 56.04821376552105,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5240.812073351876,
      "turnover_quote_units": 18682.737921840337,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 3494.6531607005973,
      "return_pct": -65.05346839299403,
      "cagr_pct": -65.09540423188496,
      "max_drawdown_pct": 67.21392902034935,
      "mean_exposure_while_solvent": 0.9995433789954337,
      "realized_annual_volatility_pct": 61.40496777459782,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6475.4365701069855,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 2434.4422058281352,
      "return_pct": -75.65557794171865,
      "cagr_pct": -75.69482840525615,
      "max_drawdown_pct": 77.27780155085547,
      "mean_exposure_while_solvent": 1.2496756162672709,
      "realized_annual_volatility_pct": 76.85355988018998,
      "trading_costs_quote_units": 80.11682573468428,
      "borrowing_costs_quote_units": 128.04284649383578,
      "price_pnl_quote_units": -7357.398121943344,
      "turnover_quote_units": 26705.60857822812,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 1645.4243287414802,
      "return_pct": -83.54575671258519,
      "cagr_pct": -83.57963352023732,
      "max_drawdown_pct": 84.78391744221476,
      "mean_exposure_while_solvent": 1.499984714617589,
      "realized_annual_volatility_pct": 92.36590837225938,
      "trading_costs_quote_units": 133.69073803230208,
      "borrowing_costs_quote_units": 220.59949284784986,
      "price_pnl_quote_units": -8000.285440378374,
      "turnover_quote_units": 44563.5793441007,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4225.341277947999,
      "return_pct": -57.74658722052002,
      "cagr_pct": -57.78813905098048,
      "max_drawdown_pct": 58.17700234055362,
      "mean_exposure_while_solvent": 0.7052246719422285,
      "realized_annual_volatility_pct": 41.404773649383394,
      "trading_costs_quote_units": 140.22855088157627,
      "borrowing_costs_quote_units": 24.485606401179965,
      "price_pnl_quote_units": -5609.944564769234,
      "turnover_quote_units": 46742.85029385874,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2723.161137204762,
      "return_pct": -72.76838862795239,
      "cagr_pct": -72.80881388520315,
      "max_drawdown_pct": 73.81445495882934,
      "mean_exposure_while_solvent": 1.0193629433955909,
      "realized_annual_volatility_pct": 60.93851829232499,
      "trading_costs_quote_units": 145.493816439464,
      "borrowing_costs_quote_units": 87.36537423923644,
      "price_pnl_quote_units": -7043.979672116523,
      "turnover_quote_units": 48497.938813154746,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 1793.066509885463,
      "return_pct": -82.06933490114537,
      "cagr_pct": -82.10449530918497,
      "max_drawdown_pct": 83.03648359163945,
      "mean_exposure_while_solvent": 1.2845924512134725,
      "realized_annual_volatility_pct": 77.84462690016626,
      "trading_costs_quote_units": 148.23559826169725,
      "borrowing_costs_quote_units": 252.78214989783623,
      "price_pnl_quote_units": -7805.915741954998,
      "turnover_quote_units": 49411.86608723239,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2689.170708704807,
      "return_pct": -73.10829291295194,
      "cagr_pct": -73.14859877071598,
      "max_drawdown_pct": 74.34514060646677,
      "mean_exposure_while_solvent": 1.0616341743302733,
      "realized_annual_volatility_pct": 61.17633786487689,
      "trading_costs_quote_units": 241.19687315733108,
      "borrowing_costs_quote_units": 129.23989327953512,
      "price_pnl_quote_units": -6940.392524858305,
      "turnover_quote_units": 80398.95771911024,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3205.2825688760136,
      "return_pct": -67.94717431123986,
      "cagr_pct": -67.98879780915544,
      "max_drawdown_pct": 69.78350270555185,
      "mean_exposure_while_solvent": 0.9782743488802254,
      "realized_annual_volatility_pct": 58.4048256654304,
      "trading_costs_quote_units": 89.11146789997994,
      "borrowing_costs_quote_units": 42.31662101732567,
      "price_pnl_quote_units": -6663.289342206684,
      "turnover_quote_units": 29703.822633326658,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3409.272398898188,
      "return_pct": -65.90727601101813,
      "cagr_pct": -65.9491492128321,
      "max_drawdown_pct": 67.7624919828405,
      "mean_exposure_while_solvent": 0.9206456557075414,
      "realized_annual_volatility_pct": 55.816874155350725,
      "trading_costs_quote_units": 85.32286709253862,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6505.404734009255,
      "turnover_quote_units": 28440.955697512865,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 210,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 4703.139712882591,
      "return_pct": -52.968602871174085,
      "cagr_pct": -53.009104334124366,
      "max_drawdown_pct": 55.63608766249555,
      "mean_exposure_while_solvent": 0.7495696497052514,
      "realized_annual_volatility_pct": 46.012378345634225,
      "trading_costs_quote_units": 56.04821376552105,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5240.812073351876,
      "turnover_quote_units": 18682.737921840337,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 3494.6531607005973,
      "return_pct": -65.05346839299403,
      "cagr_pct": -65.09540423188496,
      "max_drawdown_pct": 67.21392902034935,
      "mean_exposure_while_solvent": 0.9995433789954337,
      "realized_annual_volatility_pct": 61.40496777459782,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6475.4365701069855,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 2374.109115866204,
      "return_pct": -76.25890884133796,
      "cagr_pct": -76.29786588757989,
      "max_drawdown_pct": 77.77895872636735,
      "mean_exposure_while_solvent": 1.2497113223821839,
      "realized_annual_volatility_pct": 76.85698189783845,
      "trading_costs_quote_units": 79.76501581296986,
      "borrowing_costs_quote_units": 253.73134604464778,
      "price_pnl_quote_units": -7292.394522276172,
      "turnover_quote_units": 26588.338604323257,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 1564.7522277277735,
      "return_pct": -84.35247772272227,
      "cagr_pct": -84.38559010900919,
      "max_drawdown_pct": 85.44888897610006,
      "mean_exposure_while_solvent": 1.500070529779361,
      "realized_annual_volatility_pct": 92.37417664548536,
      "trading_costs_quote_units": 132.29841473483887,
      "borrowing_costs_quote_units": 433.74467798205626,
      "price_pnl_quote_units": -7869.204679555336,
      "turnover_quote_units": 44099.47157827967,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4234.844684497757,
      "return_pct": -57.65155315502243,
      "cagr_pct": -57.693089890401204,
      "max_drawdown_pct": 58.197526231622795,
      "mean_exposure_while_solvent": 0.7035864359090365,
      "realized_annual_volatility_pct": 41.462630062260374,
      "trading_costs_quote_units": 140.44956443203216,
      "borrowing_costs_quote_units": 6.033240299387921,
      "price_pnl_quote_units": -5618.672510770833,
      "turnover_quote_units": 46816.52147734408,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2786.7711521009114,
      "return_pct": -72.13228847899089,
      "cagr_pct": -72.17292421360564,
      "max_drawdown_pct": 73.35770466954969,
      "mean_exposure_while_solvent": 1.0181005716730271,
      "realized_annual_volatility_pct": 61.015354980613125,
      "trading_costs_quote_units": 145.4945421382715,
      "borrowing_costs_quote_units": 21.96539166855384,
      "price_pnl_quote_units": -7045.7689140922475,
      "turnover_quote_units": 48498.18071275716,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1885.8469114936834,
      "return_pct": -81.14153088506316,
      "cagr_pct": -81.17742615769095,
      "max_drawdown_pct": 82.26201994079567,
      "mean_exposure_while_solvent": 1.283979562645062,
      "realized_annual_volatility_pct": 77.96378143919377,
      "trading_costs_quote_units": 149.80226449341725,
      "borrowing_costs_quote_units": 63.989340703822116,
      "price_pnl_quote_units": -7900.361483309064,
      "turnover_quote_units": 49934.08816447245,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2689.048954426763,
      "return_pct": -73.10951045573238,
      "cagr_pct": -73.14981587702596,
      "max_drawdown_pct": 74.56641862136925,
      "mean_exposure_while_solvent": 1.0603468326875238,
      "realized_annual_volatility_pct": 61.27708998436767,
      "trading_costs_quote_units": 238.688723401307,
      "borrowing_costs_quote_units": 32.11603183852254,
      "price_pnl_quote_units": -7040.146290333417,
      "turnover_quote_units": 79562.90780043567,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3245.821768531889,
      "return_pct": -67.54178231468111,
      "cagr_pct": -67.583466949266,
      "max_drawdown_pct": 69.49755159724928,
      "mean_exposure_while_solvent": 0.9771084677335734,
      "realized_annual_volatility_pct": 58.45143082542593,
      "trading_costs_quote_units": 90.06836572734751,
      "borrowing_costs_quote_units": 10.604768222319514,
      "price_pnl_quote_units": -6653.505097518429,
      "turnover_quote_units": 30022.788575782553,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3421.0419911500458,
      "return_pct": -65.78958008849955,
      "cagr_pct": -65.83146336214088,
      "max_drawdown_pct": 67.62828049543563,
      "mean_exposure_while_solvent": 0.919699495521838,
      "realized_annual_volatility_pct": 55.856048362773,
      "trading_costs_quote_units": 85.37616072041843,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6493.581848129547,
      "turnover_quote_units": 28458.720240139508,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 210,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 4700.453069828098,
      "return_pct": -52.99546930171902,
      "cagr_pct": -53.03597827668891,
      "max_drawdown_pct": 55.69029115644438,
      "mean_exposure_while_solvent": 0.7486248936390334,
      "realized_annual_volatility_pct": 45.966097097165395,
      "trading_costs_quote_units": 56.02554940448708,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5243.521380767415,
      "turnover_quote_units": 18675.183134829043,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 3492.853992010666,
      "return_pct": -65.07146007989334,
      "cagr_pct": -65.11339484665005,
      "max_drawdown_pct": 67.21392902034935,
      "mean_exposure_while_solvent": 0.9986301369863012,
      "realized_annual_volatility_pct": 61.39008279013339,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6477.235738796914,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 2464.7078010807104,
      "return_pct": -75.35292198919291,
      "cagr_pct": -75.39231318733887,
      "max_drawdown_pct": 77.01515878320467,
      "mean_exposure_while_solvent": 1.2489715419517313,
      "realized_annual_volatility_pct": 76.88675371832908,
      "trading_costs_quote_units": 80.52411655753431,
      "borrowing_costs_quote_units": 64.24727971082794,
      "price_pnl_quote_units": -7390.52080265093,
      "turnover_quote_units": 26841.372185844768,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 1687.7650771242224,
      "return_pct": -83.12234922875777,
      "cagr_pct": -83.1566090382037,
      "max_drawdown_pct": 84.4279503930775,
      "mean_exposure_while_solvent": 1.4996918610827723,
      "realized_annual_volatility_pct": 92.46603428201028,
      "trading_costs_quote_units": 135.0569574979355,
      "borrowing_costs_quote_units": 110.98735797212552,
      "price_pnl_quote_units": -8066.190607405697,
      "turnover_quote_units": 45018.98583264514,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4229.495534033496,
      "return_pct": -57.70504465966504,
      "cagr_pct": -57.74658992156585,
      "max_drawdown_pct": 58.21639080255654,
      "mean_exposure_while_solvent": 0.7035883327442803,
      "realized_annual_volatility_pct": 41.462990178581556,
      "trading_costs_quote_units": 140.4303788931468,
      "borrowing_costs_quote_units": 12.06028845730339,
      "price_pnl_quote_units": -5618.013798616063,
      "turnover_quote_units": 46810.126297715586,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2773.0833631200367,
      "return_pct": -72.26916636879963,
      "cagr_pct": -72.30975822511758,
      "max_drawdown_pct": 73.44756822449037,
      "mean_exposure_while_solvent": 1.0181082348647907,
      "realized_annual_volatility_pct": 61.01627054725907,
      "trading_costs_quote_units": 145.384176846329,
      "borrowing_costs_quote_units": 43.84929511052209,
      "price_pnl_quote_units": -7037.683164923107,
      "turnover_quote_units": 48461.392282109715,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1858.4307667716985,
      "return_pct": -81.41569233228302,
      "cagr_pct": -81.45137599644356,
      "max_drawdown_pct": 82.47996691043757,
      "mean_exposure_while_solvent": 1.2840028662201846,
      "realized_annual_volatility_pct": 77.96626974095143,
      "trading_costs_quote_units": 149.3474995744077,
      "borrowing_costs_quote_units": 127.33875724822717,
      "price_pnl_quote_units": -7864.88297640567,
      "turnover_quote_units": 49782.49985813576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2669.42331678312,
      "return_pct": -73.3057668321688,
      "cagr_pct": -73.34600107385765,
      "max_drawdown_pct": 74.69116846931618,
      "mean_exposure_while_solvent": 1.0603583607339635,
      "realized_annual_volatility_pct": 61.278101326471244,
      "trading_costs_quote_units": 238.40103644966823,
      "borrowing_costs_quote_units": 64.05677128045956,
      "price_pnl_quote_units": -7028.118875486761,
      "turnover_quote_units": 79467.01214988944,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3237.0485387695953,
      "return_pct": -67.62951461230404,
      "cagr_pct": -67.6711865088136,
      "max_drawdown_pct": 69.54175505119125,
      "mean_exposure_while_solvent": 0.9771121564321235,
      "realized_annual_volatility_pct": 58.451779001323025,
      "trading_costs_quote_units": 90.04311371152596,
      "borrowing_costs_quote_units": 21.185319314023122,
      "price_pnl_quote_units": -6651.723028204849,
      "turnover_quote_units": 30014.371237175317,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3421.0419911500458,
      "return_pct": -65.78958008849955,
      "cagr_pct": -65.83146336214088,
      "max_drawdown_pct": 67.62828049543563,
      "mean_exposure_while_solvent": 0.919699495521838,
      "realized_annual_volatility_pct": 55.856048362773,
      "trading_costs_quote_units": 85.37616072041843,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6493.581848129547,
      "turnover_quote_units": 28458.720240139508,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 210,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 4700.453069828098,
      "return_pct": -52.99546930171902,
      "cagr_pct": -53.03597827668891,
      "max_drawdown_pct": 55.69029115644438,
      "mean_exposure_while_solvent": 0.7486248936390334,
      "realized_annual_volatility_pct": 45.966097097165395,
      "trading_costs_quote_units": 56.02554940448708,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5243.521380767415,
      "turnover_quote_units": 18675.183134829043,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 3492.853992010666,
      "return_pct": -65.07146007989334,
      "cagr_pct": -65.11339484665005,
      "max_drawdown_pct": 67.21392902034935,
      "mean_exposure_while_solvent": 0.9986301369863012,
      "realized_annual_volatility_pct": 61.39008279013339,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6477.235738796914,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 2433.9990459545666,
      "return_pct": -75.66000954045433,
      "cagr_pct": -75.69925791152701,
      "max_drawdown_pct": 77.27006058621272,
      "mean_exposure_while_solvent": 1.2489894098759573,
      "realized_annual_volatility_pct": 76.88817620872183,
      "trading_costs_quote_units": 80.37374106527214,
      "borrowing_costs_quote_units": 127.90076285997867,
      "price_pnl_quote_units": -7357.726450120178,
      "turnover_quote_units": 26791.24702175737,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 1645.9036993117209,
      "return_pct": -83.54096300688279,
      "cagr_pct": -83.57484421976102,
      "max_drawdown_pct": 84.77203386047968,
      "mean_exposure_while_solvent": 1.4997348446571233,
      "realized_annual_volatility_pct": 92.46947706177384,
      "trading_costs_quote_units": 134.4105487199732,
      "borrowing_costs_quote_units": 220.0780433125998,
      "price_pnl_quote_units": -7999.607708655689,
      "turnover_quote_units": 44803.51623999108,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4218.81500020013,
      "return_pct": -57.8118499979987,
      "cagr_pct": -57.853412053339135,
      "max_drawdown_pct": 58.254102894803104,
      "mean_exposure_while_solvent": 0.7035921270704425,
      "realized_annual_volatility_pct": 41.463716845998896,
      "trading_costs_quote_units": 140.39205012154494,
      "borrowing_costs_quote_units": 24.09583084728994,
      "price_pnl_quote_units": -5616.697118831042,
      "turnover_quote_units": 46797.35004051499,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2745.8992486719876,
      "return_pct": -72.54100751328012,
      "cagr_pct": -72.58150993585315,
      "max_drawdown_pct": 73.62644809707382,
      "mean_exposure_while_solvent": 1.0181235641292408,
      "realized_annual_volatility_pct": 61.01811785833636,
      "trading_costs_quote_units": 145.16776763578522,
      "borrowing_costs_quote_units": 87.37396939312421,
      "price_pnl_quote_units": -7021.559014299085,
      "turnover_quote_units": 48389.25587859514,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1804.7725386601478,
      "return_pct": -81.95227461339853,
      "cagr_pct": -81.9875307015915,
      "max_drawdown_pct": 82.90798221257191,
      "mean_exposure_while_solvent": 1.2840494824151218,
      "realized_annual_volatility_pct": 77.9712600474736,
      "trading_costs_quote_units": 148.4501527415073,
      "borrowing_costs_quote_units": 252.14784726438114,
      "price_pnl_quote_units": -7794.629461333955,
      "turnover_quote_units": 49483.38424716912,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2630.585042815609,
      "return_pct": -73.69414957184391,
      "cagr_pct": -73.7342380849457,
      "max_drawdown_pct": 74.93891372614279,
      "mean_exposure_while_solvent": 1.0603814212359728,
      "realized_annual_volatility_pct": 61.28014396929444,
      "trading_costs_quote_units": 237.83449009781435,
      "borrowing_costs_quote_units": 127.41674870038241,
      "price_pnl_quote_units": -7004.1637183861985,
      "turnover_quote_units": 79278.16336593809,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3219.569485904263,
      "return_pct": -67.80430514095737,
      "cagr_pct": -67.8459508491082,
      "max_drawdown_pct": 69.6299878576398,
      "mean_exposure_while_solvent": 0.9771195348696967,
      "realized_annual_volatility_pct": 58.45247993267706,
      "trading_costs_quote_units": 89.99272652514418,
      "borrowing_costs_quote_units": 42.27399732229248,
      "price_pnl_quote_units": -6648.16379024828,
      "turnover_quote_units": 29997.57550838144,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3421.0419911500458,
      "return_pct": -65.78958008849955,
      "cagr_pct": -65.83146336214088,
      "max_drawdown_pct": 67.62828049543563,
      "mean_exposure_while_solvent": 0.919699495521838,
      "realized_annual_volatility_pct": 55.856048362773,
      "trading_costs_quote_units": 85.37616072041843,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6493.581848129547,
      "turnover_quote_units": 28458.720240139508,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 210,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 4700.453069828098,
      "return_pct": -52.99546930171902,
      "cagr_pct": -53.03597827668891,
      "max_drawdown_pct": 55.69029115644438,
      "mean_exposure_while_solvent": 0.7486248936390334,
      "realized_annual_volatility_pct": 45.966097097165395,
      "trading_costs_quote_units": 56.02554940448708,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -5243.521380767415,
      "turnover_quote_units": 18675.183134829043,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 3492.853992010666,
      "return_pct": -65.07146007989334,
      "cagr_pct": -65.11339484665005,
      "max_drawdown_pct": 67.21392902034935,
      "mean_exposure_while_solvent": 0.9986301369863012,
      "realized_annual_volatility_pct": 61.39008279013339,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -6477.235738796914,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 2373.7077115159464,
      "return_pct": -76.26292288484053,
      "cagr_pct": -76.30187792081436,
      "max_drawdown_pct": 77.77154533916774,
      "mean_exposure_while_solvent": 1.2490251512396269,
      "realized_annual_volatility_pct": 76.8910214044729,
      "trading_costs_quote_units": 80.08136737289705,
      "borrowing_costs_quote_units": 253.4509430198657,
      "price_pnl_quote_units": -7292.759978091294,
      "turnover_quote_units": 26693.789124299026,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2022",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 1565.2426801012007,
      "return_pct": -84.34757319898799,
      "cagr_pct": -84.3806903735931,
      "max_drawdown_pct": 85.43777014208985,
      "mean_exposure_while_solvent": 1.4998208305274334,
      "realized_annual_volatility_pct": 92.47636380081585,
      "trading_costs_quote_units": 133.1510854273571,
      "borrowing_costs_quote_units": 432.71938955903266,
      "price_pnl_quote_units": -7868.886844912392,
      "turnover_quote_units": 44383.69514245229,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 28251.236192903852,
      "return_pct": 182.51236192903852,
      "cagr_pct": 182.84764960104502,
      "max_drawdown_pct": 26.06399943394032,
      "mean_exposure_while_solvent": 1.0504530010739328,
      "realized_annual_volatility_pct": 43.11783840451548,
      "trading_costs_quote_units": 97.06253665328013,
      "borrowing_costs_quote_units": 99.16205196294968,
      "price_pnl_quote_units": 18447.46078152009,
      "turnover_quote_units": 161770.89442213354,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 33848.00883772365,
      "return_pct": 238.48008837723654,
      "cagr_pct": 238.95175876657828,
      "max_drawdown_pct": 30.587004690333362,
      "mean_exposure_while_solvent": 1.3940867066659992,
      "realized_annual_volatility_pct": 57.16544050983347,
      "trading_costs_quote_units": 86.40562920319225,
      "borrowing_costs_quote_units": 415.5587933167335,
      "price_pnl_quote_units": 24349.97326024357,
      "turnover_quote_units": 144009.38200532048,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 35054.908897751266,
      "return_pct": 250.54908897751264,
      "cagr_pct": 251.0516238495446,
      "max_drawdown_pct": 30.603417978048377,
      "mean_exposure_while_solvent": 1.4721572472766755,
      "realized_annual_volatility_pct": 61.319142365814535,
      "trading_costs_quote_units": 67.0304140928623,
      "borrowing_costs_quote_units": 495.4949783089865,
      "price_pnl_quote_units": 25617.434290153134,
      "turnover_quote_units": 111717.35682143713,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 32470.675612086303,
      "return_pct": 224.70675612086302,
      "cagr_pct": 225.1438066460315,
      "max_drawdown_pct": 29.892970480878333,
      "mean_exposure_while_solvent": 1.381051844090232,
      "realized_annual_volatility_pct": 56.23621143443547,
      "trading_costs_quote_units": 130.74934522211223,
      "borrowing_costs_quote_units": 386.91073959836064,
      "price_pnl_quote_units": 22988.335696906703,
      "turnover_quote_units": 217915.57537018682,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 35027.37391780903,
      "return_pct": 250.27373917809035,
      "cagr_pct": 250.77556452150708,
      "max_drawdown_pct": 30.58700469033332,
      "mean_exposure_while_solvent": 1.393373689017981,
      "realized_annual_volatility_pct": 57.26375704230592,
      "trading_costs_quote_units": 65.47968925384657,
      "borrowing_costs_quote_units": 418.64189628197965,
      "price_pnl_quote_units": 25511.495503344842,
      "turnover_quote_units": 109132.81542307755,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25122.2321814316,
      "return_pct": 151.22232181431596,
      "cagr_pct": 151.48675735983392,
      "max_drawdown_pct": 21.203984916591434,
      "mean_exposure_while_solvent": 0.9898929376464225,
      "realized_annual_volatility_pct": 41.60375036046179,
      "trading_costs_quote_units": 10.78453550100604,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15133.01671693261,
      "turnover_quote_units": 17974.225835010067,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20585.66663171925,
      "return_pct": 105.85666631719248,
      "cagr_pct": 106.02648342196099,
      "max_drawdown_pct": 16.244995090737525,
      "mean_exposure_while_solvent": 0.7497826627998541,
      "realized_annual_volatility_pct": 31.669342102567384,
      "trading_costs_quote_units": 14.089368896162416,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10599.756000615422,
      "turnover_quote_units": 23482.281493604045,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25588.387743166684,
      "return_pct": 155.88387743166683,
      "cagr_pct": 156.15859835482587,
      "max_drawdown_pct": 21.203984916591434,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 42.14388751759139,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15594.384145325403,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 30995.77294322491,
      "return_pct": 209.9577294322491,
      "cagr_pct": 210.35845027960383,
      "max_drawdown_pct": 26.01184255526293,
      "mean_exposure_while_solvent": 1.2492646612467477,
      "realized_annual_volatility_pct": 52.58566631099103,
      "trading_costs_quote_units": 27.959107704142806,
      "borrowing_costs_quote_units": 244.8101132807974,
      "price_pnl_quote_units": 21268.542164209863,
      "turnover_quote_units": 46598.51284023798,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 37098.6838199209,
      "return_pct": 270.986838199209,
      "cagr_pct": 271.54271610596743,
      "max_drawdown_pct": 30.603417978048377,
      "mean_exposure_while_solvent": 1.4989512378108727,
      "realized_annual_volatility_pct": 62.998749451064064,
      "trading_costs_quote_units": 63.933044623029765,
      "borrowing_costs_quote_units": 547.9202862759722,
      "price_pnl_quote_units": 27710.53715081981,
      "turnover_quote_units": 106555.0743717163,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 28081.828934793724,
      "return_pct": 180.81828934793722,
      "cagr_pct": 181.14963525616398,
      "max_drawdown_pct": 26.250956215391252,
      "mean_exposure_while_solvent": 1.0504623301399467,
      "realized_annual_volatility_pct": 43.117829909369945,
      "trading_costs_quote_units": 96.7904733356308,
      "borrowing_costs_quote_units": 197.70983578709928,
      "price_pnl_quote_units": 18376.329243916458,
      "turnover_quote_units": 161317.45555938475,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33173.15196110611,
      "return_pct": 231.73151961106106,
      "cagr_pct": 232.18614534248658,
      "max_drawdown_pct": 30.873281576251788,
      "mean_exposure_while_solvent": 1.3941203035571625,
      "realized_annual_volatility_pct": 57.16738218444054,
      "trading_costs_quote_units": 85.66896260518281,
      "borrowing_costs_quote_units": 821.8329440239526,
      "price_pnl_quote_units": 24080.65386773524,
      "turnover_quote_units": 142781.60434197148,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 34238.75327785341,
      "return_pct": 242.38753277853408,
      "cagr_pct": 242.86914270723798,
      "max_drawdown_pct": 30.873281576251756,
      "mean_exposure_while_solvent": 1.4721973781554798,
      "realized_annual_volatility_pct": 61.32187040839394,
      "trading_costs_quote_units": 66.36469861345032,
      "borrowing_costs_quote_units": 978.0519624925878,
      "price_pnl_quote_units": 25283.16993895943,
      "turnover_quote_units": 110607.83102241713,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 31839.608762351778,
      "return_pct": 218.39608762351776,
      "cagr_pct": 218.81749779978938,
      "max_drawdown_pct": 30.177266160018146,
      "mean_exposure_while_solvent": 1.3810846494669071,
      "realized_annual_volatility_pct": 56.23833769268211,
      "trading_costs_quote_units": 129.65894979628862,
      "borrowing_costs_quote_units": 765.4781275569167,
      "price_pnl_quote_units": 22734.745839704927,
      "turnover_quote_units": 216098.2496604811,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 34346.770982370115,
      "return_pct": 243.46770982370117,
      "cagr_pct": 243.95207647977378,
      "max_drawdown_pct": 30.873281576251777,
      "mean_exposure_while_solvent": 1.3934067006465383,
      "realized_annual_volatility_pct": 57.26567853863778,
      "trading_costs_quote_units": 64.92944983672477,
      "borrowing_costs_quote_units": 828.0980017546586,
      "price_pnl_quote_units": 25239.798433961496,
      "turnover_quote_units": 108215.7497278746,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 25122.2321814316,
      "return_pct": 151.22232181431596,
      "cagr_pct": 151.48675735983392,
      "max_drawdown_pct": 21.203984916591434,
      "mean_exposure_while_solvent": 0.9898929376464225,
      "realized_annual_volatility_pct": 41.60375036046179,
      "trading_costs_quote_units": 10.78453550100604,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15133.01671693261,
      "turnover_quote_units": 17974.225835010067,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20585.66663171925,
      "return_pct": 105.85666631719248,
      "cagr_pct": 106.02648342196099,
      "max_drawdown_pct": 16.244995090737525,
      "mean_exposure_while_solvent": 0.7497826627998541,
      "realized_annual_volatility_pct": 31.669342102567384,
      "trading_costs_quote_units": 14.089368896162416,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10599.756000615422,
      "turnover_quote_units": 23482.281493604045,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 25588.387743166684,
      "return_pct": 155.88387743166683,
      "cagr_pct": 156.15859835482587,
      "max_drawdown_pct": 21.203984916591434,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 42.14388751759139,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15594.384145325403,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 30612.30558400676,
      "return_pct": 206.1230558400676,
      "cagr_pct": 206.51446125490827,
      "max_drawdown_pct": 26.071322676069087,
      "mean_exposure_while_solvent": 1.2492824460554863,
      "realized_annual_volatility_pct": 52.58682158202629,
      "trading_costs_quote_units": 27.825595090890467,
      "borrowing_costs_quote_units": 486.28301794906724,
      "price_pnl_quote_units": 21126.414197046735,
      "turnover_quote_units": 46375.9918181508,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36186.6909721714,
      "return_pct": 261.86690972171397,
      "cagr_pct": 262.3988207286493,
      "max_drawdown_pct": 30.87328157625182,
      "mean_exposure_while_solvent": 1.4989939124830445,
      "realized_annual_volatility_pct": 63.00151345001801,
      "trading_costs_quote_units": 63.20691422600205,
      "borrowing_costs_quote_units": 1080.693358962549,
      "price_pnl_quote_units": 27330.59124535999,
      "turnover_quote_units": 105344.8570433366,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 27745.96673246535,
      "return_pct": 177.45966732465348,
      "cagr_pct": 177.78323305700292,
      "max_drawdown_pct": 26.623546964707458,
      "mean_exposure_while_solvent": 1.0504809917094238,
      "realized_annual_volatility_pct": 43.11783522801071,
      "trading_costs_quote_units": 96.25266352724748,
      "borrowing_costs_quote_units": 392.97667396407104,
      "price_pnl_quote_units": 18235.19606995664,
      "turnover_quote_units": 160421.1058787458,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 31863.181942735708,
      "return_pct": 218.6318194273571,
      "cagr_pct": 219.0538112836396,
      "max_drawdown_pct": 31.442458899512673,
      "mean_exposure_while_solvent": 1.3941875112574216,
      "realized_annual_volatility_pct": 57.17127932122875,
      "trading_costs_quote_units": 84.23250368918494,
      "borrowing_costs_quote_units": 1607.3052962059237,
      "price_pnl_quote_units": 23554.719742630772,
      "turnover_quote_units": 140387.50614864138,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 32662.56108703561,
      "return_pct": 226.6256108703561,
      "cagr_pct": 227.0674450483058,
      "max_drawdown_pct": 31.442458899512594,
      "mean_exposure_while_solvent": 1.4722776571390697,
      "realized_annual_volatility_pct": 61.3273321380122,
      "trading_costs_quote_units": 65.07909697840155,
      "borrowing_costs_quote_units": 1905.618108135558,
      "price_pnl_quote_units": 24633.25829214949,
      "turnover_quote_units": 108465.16163066922,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 30613.691761920745,
      "return_pct": 206.13691761920748,
      "cagr_pct": 206.5283566093379,
      "max_drawdown_pct": 30.74256358385121,
      "mean_exposure_while_solvent": 1.381150273881947,
      "realized_annual_volatility_pct": 56.24260705655616,
      "trading_costs_quote_units": 127.53177024432203,
      "borrowing_costs_quote_units": 1498.2610430961086,
      "price_pnl_quote_units": 22239.484575261184,
      "turnover_quote_units": 212552.95040720323,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 33024.61133554527,
      "return_pct": 230.2461133554527,
      "cagr_pct": 230.6970084373193,
      "max_drawdown_pct": 31.442458899512793,
      "mean_exposure_while_solvent": 1.3934727377858471,
      "realized_annual_volatility_pct": 57.26954036854801,
      "trading_costs_quote_units": 63.866651259943126,
      "borrowing_costs_quote_units": 1620.205080642731,
      "price_pnl_quote_units": 24708.68306744792,
      "turnover_quote_units": 106444.41876657179,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 25122.2321814316,
      "return_pct": 151.22232181431596,
      "cagr_pct": 151.48675735983392,
      "max_drawdown_pct": 21.203984916591434,
      "mean_exposure_while_solvent": 0.9898929376464225,
      "realized_annual_volatility_pct": 41.60375036046179,
      "trading_costs_quote_units": 10.78453550100604,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15133.01671693261,
      "turnover_quote_units": 17974.225835010067,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 20585.66663171925,
      "return_pct": 105.85666631719248,
      "cagr_pct": 106.02648342196099,
      "max_drawdown_pct": 16.244995090737525,
      "mean_exposure_while_solvent": 0.7497826627998541,
      "realized_annual_volatility_pct": 31.669342102567384,
      "trading_costs_quote_units": 14.089368896162416,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10599.756000615422,
      "turnover_quote_units": 23482.281493604045,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 25588.387743166684,
      "return_pct": 155.88387743166683,
      "cagr_pct": 156.15859835482587,
      "max_drawdown_pct": 21.203984916591434,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 42.14388751759139,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15594.384145325403,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29859.36905260322,
      "return_pct": 198.5936905260322,
      "cagr_pct": 198.96696578016372,
      "max_drawdown_pct": 26.375941950439994,
      "mean_exposure_while_solvent": 1.2493180211451014,
      "realized_annual_volatility_pct": 52.58913241003682,
      "trading_costs_quote_units": 27.56785744725053,
      "borrowing_costs_quote_units": 959.38782126443,
      "price_pnl_quote_units": 20846.324731314868,
      "turnover_quote_units": 45946.42907875097,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 34428.915395114396,
      "return_pct": 244.28915395114393,
      "cagr_pct": 244.77561962484148,
      "max_drawdown_pct": 31.442458899512715,
      "mean_exposure_while_solvent": 1.4990792803069883,
      "realized_annual_volatility_pct": 63.00704261992206,
      "trading_costs_quote_units": 61.80752342225808,
      "borrowing_costs_quote_units": 2102.362091256426,
      "price_pnl_quote_units": 26593.085009793056,
      "turnover_quote_units": 103012.53903709684,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 28393.381885722407,
      "return_pct": 183.93381885722405,
      "cagr_pct": 184.27242294681844,
      "max_drawdown_pct": 25.926700495955203,
      "mean_exposure_while_solvent": 1.0494091934691618,
      "realized_annual_volatility_pct": 43.134087622625714,
      "trading_costs_quote_units": 97.41518781363416,
      "borrowing_costs_quote_units": 99.36855762278579,
      "price_pnl_quote_units": 18590.165631158783,
      "turnover_quote_units": 162358.64635605708,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33750.205661828375,
      "return_pct": 237.50205661828377,
      "cagr_pct": 237.9712472032764,
      "max_drawdown_pct": 30.555844773091202,
      "mean_exposure_while_solvent": 1.3924174111866934,
      "realized_annual_volatility_pct": 57.20302441670795,
      "trading_costs_quote_units": 84.5344846358775,
      "borrowing_costs_quote_units": 413.3877151176859,
      "price_pnl_quote_units": 24248.127861581866,
      "turnover_quote_units": 140890.8077264625,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 35045.48828917987,
      "return_pct": 250.4548828917987,
      "cagr_pct": 250.95717498322819,
      "max_drawdown_pct": 30.599337310341255,
      "mean_exposure_while_solvent": 1.470402412935406,
      "realized_annual_volatility_pct": 61.328076139966605,
      "trading_costs_quote_units": 64.66142051318069,
      "borrowing_costs_quote_units": 494.5693370678411,
      "price_pnl_quote_units": 25604.719046760794,
      "turnover_quote_units": 107769.03418863453,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 32590.593660326605,
      "return_pct": 225.90593660326604,
      "cagr_pct": 226.3459751361536,
      "max_drawdown_pct": 29.872736040309732,
      "mean_exposure_while_solvent": 1.3792675469718525,
      "realized_annual_volatility_pct": 56.26405026677689,
      "trading_costs_quote_units": 128.73515176058123,
      "borrowing_costs_quote_units": 385.5248149694986,
      "price_pnl_quote_units": 23104.85362705669,
      "turnover_quote_units": 214558.58626763528,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 34990.882036778086,
      "return_pct": 249.9088203677809,
      "cagr_pct": 250.40970576071368,
      "max_drawdown_pct": 30.555844773091334,
      "mean_exposure_while_solvent": 1.391711523493235,
      "realized_annual_volatility_pct": 57.2591878775328,
      "trading_costs_quote_units": 63.39281102953547,
      "borrowing_costs_quote_units": 417.42317876413443,
      "price_pnl_quote_units": 25471.698026571812,
      "turnover_quote_units": 105654.68504922587,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25088.74300996195,
      "return_pct": 150.88743009961948,
      "cagr_pct": 151.15113052143533,
      "max_drawdown_pct": 21.203984916591423,
      "mean_exposure_while_solvent": 0.9889617522550982,
      "realized_annual_volatility_pct": 41.61146102307616,
      "trading_costs_quote_units": 10.746107234979176,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15099.489117196932,
      "turnover_quote_units": 17910.178724965288,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 20551.761350631416,
      "return_pct": 105.51761350631415,
      "cagr_pct": 105.68676369348834,
      "max_drawdown_pct": 16.246830476476383,
      "mean_exposure_while_solvent": 0.74917844143069,
      "realized_annual_volatility_pct": 31.67113992902558,
      "trading_costs_quote_units": 13.556654617140364,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10565.318005248515,
      "turnover_quote_units": 22594.42436190063,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25534.50918607936,
      "return_pct": 155.34509186079356,
      "cagr_pct": 155.61861899144108,
      "max_drawdown_pct": 21.203984916591423,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 42.14367966566466,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15540.505588238051,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 30922.616704179087,
      "return_pct": 209.2261670417909,
      "cagr_pct": 209.6251065182071,
      "max_drawdown_pct": 26.00962586309755,
      "mean_exposure_while_solvent": 1.2480034297846119,
      "realized_annual_volatility_pct": 52.582085407990796,
      "trading_costs_quote_units": 26.732529470351164,
      "borrowing_costs_quote_units": 244.02909922554335,
      "price_pnl_quote_units": 21193.378332875032,
      "turnover_quote_units": 44554.21578391864,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 37007.300344654286,
      "return_pct": 270.0730034465429,
      "cagr_pct": 270.62646814405446,
      "max_drawdown_pct": 30.599337310341255,
      "mean_exposure_while_solvent": 1.4973115309515495,
      "realized_annual_volatility_pct": 62.99058644629378,
      "trading_costs_quote_units": 60.52948071999761,
      "borrowing_costs_quote_units": 546.1121901858049,
      "price_pnl_quote_units": 27613.942015560136,
      "turnover_quote_units": 100882.46786666266,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 28223.155800026096,
      "return_pct": 182.23155800026097,
      "cagr_pct": 182.5661914925044,
      "max_drawdown_pct": 26.113748226973897,
      "mean_exposure_while_solvent": 1.0494185029657137,
      "realized_annual_volatility_pct": 43.13379881218417,
      "trading_costs_quote_units": 97.1417987053173,
      "borrowing_costs_quote_units": 198.1206551797219,
      "price_pnl_quote_units": 18518.418253911157,
      "turnover_quote_units": 161902.99784219524,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 33077.962298507446,
      "return_pct": 230.77962298507444,
      "cagr_pct": 231.23185711641673,
      "max_drawdown_pct": 30.842116222706107,
      "mean_exposure_while_solvent": 1.3924509105399892,
      "realized_annual_volatility_pct": 57.20437931830554,
      "trading_costs_quote_units": 83.81692092935884,
      "borrowing_costs_quote_units": 817.5479511412499,
      "price_pnl_quote_units": 23979.327170577995,
      "turnover_quote_units": 139694.86821559805,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 34230.36146985866,
      "return_pct": 242.30361469858659,
      "cagr_pct": 242.7850106225569,
      "max_drawdown_pct": 30.842116222706128,
      "mean_exposure_while_solvent": 1.4704424276956454,
      "realized_annual_volatility_pct": 61.33007089630653,
      "trading_costs_quote_units": 64.03308992824105,
      "borrowing_costs_quote_units": 976.2344311674896,
      "price_pnl_quote_units": 25270.628990954323,
      "turnover_quote_units": 106721.81654706848,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 31958.001626254765,
      "return_pct": 219.58001626254764,
      "cagr_pct": 220.00434985725656,
      "max_drawdown_pct": 30.156955996680267,
      "mean_exposure_while_solvent": 1.3793002370085152,
      "realized_annual_volatility_pct": 56.26556579827625,
      "trading_costs_quote_units": 127.66802020151053,
      "borrowing_costs_quote_units": 762.7409259906608,
      "price_pnl_quote_units": 22848.41057244699,
      "turnover_quote_units": 212780.0336691839,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 34311.80289563781,
      "return_pct": 243.11802895637814,
      "cagr_pct": 243.6015027631091,
      "max_drawdown_pct": 30.842116222706174,
      "mean_exposure_while_solvent": 1.3917444338490412,
      "realized_annual_volatility_pct": 57.26053294595139,
      "trading_costs_quote_units": 62.848857078830214,
      "borrowing_costs_quote_units": 825.697180515553,
      "price_pnl_quote_units": 25200.348933232246,
      "turnover_quote_units": 104748.09513138377,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 25088.74300996195,
      "return_pct": 150.88743009961948,
      "cagr_pct": 151.15113052143533,
      "max_drawdown_pct": 21.203984916591423,
      "mean_exposure_while_solvent": 0.9889617522550982,
      "realized_annual_volatility_pct": 41.61146102307616,
      "trading_costs_quote_units": 10.746107234979176,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15099.489117196932,
      "turnover_quote_units": 17910.178724965288,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20551.761350631416,
      "return_pct": 105.51761350631415,
      "cagr_pct": 105.68676369348834,
      "max_drawdown_pct": 16.246830476476383,
      "mean_exposure_while_solvent": 0.74917844143069,
      "realized_annual_volatility_pct": 31.67113992902558,
      "trading_costs_quote_units": 13.556654617140364,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10565.318005248515,
      "turnover_quote_units": 22594.42436190063,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 25534.50918607936,
      "return_pct": 155.34509186079356,
      "cagr_pct": 155.61861899144108,
      "max_drawdown_pct": 21.203984916591423,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 42.14367966566466,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15540.505588238051,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 30540.407742683674,
      "return_pct": 205.40407742683672,
      "cagr_pct": 205.79374235508106,
      "max_drawdown_pct": 26.065652012791453,
      "mean_exposure_while_solvent": 1.2480211749658117,
      "realized_annual_volatility_pct": 52.582921701894705,
      "trading_costs_quote_units": 26.60565783563898,
      "borrowing_costs_quote_units": 484.7350911382855,
      "price_pnl_quote_units": 21051.748491657556,
      "turnover_quote_units": 44342.763059398225,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 36098.39401115373,
      "return_pct": 260.9839401115373,
      "cagr_pct": 261.51354457010945,
      "max_drawdown_pct": 30.842116222706217,
      "mean_exposure_while_solvent": 1.497354105816042,
      "realized_annual_volatility_pct": 62.99258720163121,
      "trading_costs_quote_units": 59.84833021646038,
      "borrowing_costs_quote_units": 1077.1447910864572,
      "price_pnl_quote_units": 27235.38713245665,
      "turnover_quote_units": 99747.21702743389,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 27885.672177187444,
      "return_pct": 178.85672177187445,
      "cagr_pct": 179.18351812987825,
      "max_drawdown_pct": 26.486530432870214,
      "mean_exposure_while_solvent": 1.0494371253874775,
      "realized_annual_volatility_pct": 43.133243232119625,
      "trading_costs_quote_units": 96.60176210264375,
      "borrowing_costs_quote_units": 393.7896792165561,
      "price_pnl_quote_units": 18376.063618506647,
      "turnover_quote_units": 161002.93683773957,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 31773.01874783147,
      "return_pct": 217.73018747831466,
      "cagr_pct": 218.14995559263028,
      "max_drawdown_pct": 31.41128684151124,
      "mean_exposure_while_solvent": 1.3925179231185294,
      "realized_annual_volatility_pct": 57.20710308018293,
      "trading_costs_quote_units": 82.42496451689256,
      "borrowing_costs_quote_units": 1598.9583509497174,
      "price_pnl_quote_units": 23454.40206329791,
      "turnover_quote_units": 137374.94086148747,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 32656.090073211868,
      "return_pct": 226.56090073211868,
      "cagr_pct": 227.0025733787374,
      "max_drawdown_pct": 31.411286841511377,
      "mean_exposure_while_solvent": 1.4705224743828316,
      "realized_annual_volatility_pct": 61.33406692074056,
      "trading_costs_quote_units": 62.82754533149947,
      "borrowing_costs_quote_units": 1902.1131690447935,
      "price_pnl_quote_units": 24621.03078758815,
      "turnover_quote_units": 104712.57555249911,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 30729.085269261985,
      "return_pct": 207.29085269261986,
      "cagr_pct": 207.68508920161347,
      "max_drawdown_pct": 30.72210623061521,
      "mean_exposure_while_solvent": 1.3793656306829796,
      "realized_annual_volatility_pct": 56.26861414198526,
      "trading_costs_quote_units": 125.58317141117008,
      "borrowing_costs_quote_units": 1492.9223486585033,
      "price_pnl_quote_units": 22347.590789331698,
      "turnover_quote_units": 209305.28568528348,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 32992.56272140359,
      "return_pct": 229.92562721403593,
      "cagr_pct": 230.37571838588343,
      "max_drawdown_pct": 31.41128684151131,
      "mean_exposure_while_solvent": 1.3918102683930853,
      "realized_annual_volatility_pct": 57.2632423278312,
      "trading_costs_quote_units": 61.79475990819075,
      "borrowing_costs_quote_units": 1615.546143821864,
      "price_pnl_quote_units": 24669.903625133655,
      "turnover_quote_units": 102991.26651365116,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 25088.74300996195,
      "return_pct": 150.88743009961948,
      "cagr_pct": 151.15113052143533,
      "max_drawdown_pct": 21.203984916591423,
      "mean_exposure_while_solvent": 0.9889617522550982,
      "realized_annual_volatility_pct": 41.61146102307616,
      "trading_costs_quote_units": 10.746107234979176,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15099.489117196932,
      "turnover_quote_units": 17910.178724965288,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20551.761350631416,
      "return_pct": 105.51761350631415,
      "cagr_pct": 105.68676369348834,
      "max_drawdown_pct": 16.246830476476383,
      "mean_exposure_while_solvent": 0.74917844143069,
      "realized_annual_volatility_pct": 31.67113992902558,
      "trading_costs_quote_units": 13.556654617140364,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10565.318005248515,
      "turnover_quote_units": 22594.42436190063,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 25534.50918607936,
      "return_pct": 155.34509186079356,
      "cagr_pct": 155.61861899144108,
      "max_drawdown_pct": 21.203984916591423,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 42.14367966566466,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15540.505588238051,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29789.92527764892,
      "return_pct": 197.89925277648922,
      "cagr_pct": 198.27086674077066,
      "max_drawdown_pct": 26.362295057187403,
      "mean_exposure_while_solvent": 1.2480566707859482,
      "realized_annual_volatility_pct": 52.58459489293842,
      "trading_costs_quote_units": 26.363869080428273,
      "borrowing_costs_quote_units": 956.3474260469583,
      "price_pnl_quote_units": 20772.636572776362,
      "turnover_quote_units": 43939.781800713805,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 34346.49598177767,
      "return_pct": 243.46495981777667,
      "cagr_pct": 243.94931945059616,
      "max_drawdown_pct": 31.411286841511334,
      "mean_exposure_while_solvent": 1.4974392739748779,
      "realized_annual_volatility_pct": 62.996590524701546,
      "trading_costs_quote_units": 58.54385798296329,
      "borrowing_costs_quote_units": 2095.5264853966833,
      "price_pnl_quote_units": 26500.56632515734,
      "turnover_quote_units": 97573.09663827224,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 27614.86736927131,
      "return_pct": 176.1486736927131,
      "cagr_pct": 176.46921513402694,
      "max_drawdown_pct": 26.3094446638119,
      "mean_exposure_while_solvent": 1.0504530010739328,
      "realized_annual_volatility_pct": 43.11774096444321,
      "trading_costs_quote_units": 479.0983507847174,
      "borrowing_costs_quote_units": 97.74869623470731,
      "price_pnl_quote_units": 18191.714416290717,
      "turnover_quote_units": 159699.45026157235,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 33225.64710985008,
      "return_pct": 232.25647109850075,
      "cagr_pct": 232.71241708684744,
      "max_drawdown_pct": 30.66245694954658,
      "mean_exposure_while_solvent": 1.3940867066659992,
      "realized_annual_volatility_pct": 57.162901028997645,
      "trading_costs_quote_units": 427.14911929985607,
      "borrowing_costs_quote_units": 410.0630505359843,
      "price_pnl_quote_units": 24062.85927968595,
      "turnover_quote_units": 142383.03976661855,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 34546.86460678929,
      "return_pct": 245.4686460678929,
      "cagr_pct": 245.9581295942462,
      "max_drawdown_pct": 30.662456949546424,
      "mean_exposure_while_solvent": 1.4721572472766755,
      "realized_annual_volatility_pct": 61.31818170924651,
      "trading_costs_quote_units": 332.05788484375404,
      "borrowing_costs_quote_units": 490.31640353707854,
      "price_pnl_quote_units": 25369.238895170038,
      "turnover_quote_units": 110685.96161458474,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 31568.41282752355,
      "return_pct": 215.68412827523548,
      "cagr_pct": 216.0988609660975,
      "max_drawdown_pct": 30.00569995062875,
      "mean_exposure_while_solvent": 1.381051844090232,
      "realized_annual_volatility_pct": 56.23977181943087,
      "trading_costs_quote_units": 642.955899806591,
      "borrowing_costs_quote_units": 379.36839364472974,
      "price_pnl_quote_units": 22590.73712097478,
      "turnover_quote_units": 214318.63326886354,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 34531.660428446456,
      "return_pct": 245.31660428446455,
      "cagr_pct": 245.80569853697125,
      "max_drawdown_pct": 30.662456949546613,
      "mean_exposure_while_solvent": 1.393373689017981,
      "realized_annual_volatility_pct": 57.2632691502395,
      "trading_costs_quote_units": 324.40849949036834,
      "borrowing_costs_quote_units": 414.31417955888907,
      "price_pnl_quote_units": 25270.38310749571,
      "turnover_quote_units": 108136.16649678948,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25033.21318034979,
      "return_pct": 150.3321318034979,
      "cagr_pct": 150.59461441312462,
      "max_drawdown_pct": 21.203984916591434,
      "mean_exposure_while_solvent": 0.9898929376464225,
      "realized_annual_volatility_pct": 41.60449345279944,
      "trading_costs_quote_units": 53.77954915825637,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15086.99272950804,
      "turnover_quote_units": 17926.51638608545,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20497.07636309625,
      "return_pct": 104.97076363096252,
      "cagr_pct": 105.13883951245523,
      "max_drawdown_pct": 16.260106733098812,
      "mean_exposure_while_solvent": 0.7497826627998541,
      "realized_annual_volatility_pct": 31.66950242971305,
      "trading_costs_quote_units": 70.27004446855845,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10567.346407564832,
      "turnover_quote_units": 23423.348156186126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25527.159297918828,
      "return_pct": 155.27159297918826,
      "cagr_pct": 155.5449573584395,
      "max_drawdown_pct": 21.203984916591434,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 42.14515509244507,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15557.069567111232,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 30774.664561310452,
      "return_pct": 207.74664561310453,
      "cagr_pct": 208.14198848211097,
      "max_drawdown_pct": 26.034563109890808,
      "mean_exposure_while_solvent": 1.2492646612467477,
      "realized_annual_volatility_pct": 52.58623592842072,
      "trading_costs_quote_units": 139.0967910951361,
      "borrowing_costs_quote_units": 243.48006902104046,
      "price_pnl_quote_units": 21157.24142142667,
      "turnover_quote_units": 46365.597031712,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 36598.80033119835,
      "return_pct": 265.98800331198345,
      "cagr_pct": 266.53071222789265,
      "max_drawdown_pct": 30.662456949546556,
      "mean_exposure_while_solvent": 1.4989512378108727,
      "realized_annual_volatility_pct": 62.998556831875355,
      "trading_costs_quote_units": 316.83713761187414,
      "borrowing_costs_quote_units": 542.7176442311355,
      "price_pnl_quote_units": 27458.355113041358,
      "turnover_quote_units": 105612.37920395806,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27449.27201364731,
      "return_pct": 174.4927201364731,
      "cagr_pct": 174.8094516966307,
      "max_drawdown_pct": 26.49579134029031,
      "mean_exposure_while_solvent": 1.0504623301399467,
      "realized_annual_volatility_pct": 43.11774000673052,
      "trading_costs_quote_units": 477.7627016889944,
      "borrowing_costs_quote_units": 194.89337728355753,
      "price_pnl_quote_units": 18121.92809261991,
      "turnover_quote_units": 159254.2338963313,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 32563.147778664104,
      "return_pct": 225.63147778664106,
      "cagr_pct": 226.07083200179844,
      "max_drawdown_pct": 30.94877866038328,
      "mean_exposure_while_solvent": 1.3941203035571625,
      "realized_annual_volatility_pct": 57.16486540768302,
      "trading_costs_quote_units": 423.5273241103852,
      "borrowing_costs_quote_units": 810.981252865461,
      "price_pnl_quote_units": 23797.65635563996,
      "turnover_quote_units": 141175.77470346174,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33742.48540313528,
      "return_pct": 237.42485403135282,
      "cagr_pct": 237.89384900687008,
      "max_drawdown_pct": 30.948778660383347,
      "mean_exposure_while_solvent": 1.4721973781554798,
      "realized_annual_volatility_pct": 61.320946809422374,
      "trading_costs_quote_units": 328.77736839545764,
      "borrowing_costs_quote_units": 967.8496466191292,
      "price_pnl_quote_units": 25039.11241814982,
      "turnover_quote_units": 109592.4561318191,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 30954.71240569515,
      "return_pct": 209.54712405695153,
      "cagr_pct": 209.9468448272644,
      "max_drawdown_pct": 30.289892283692367,
      "mean_exposure_while_solvent": 1.3810846494669071,
      "realized_annual_volatility_pct": 56.24191737379498,
      "trading_costs_quote_units": 637.6309271688319,
      "borrowing_costs_quote_units": 750.5786533495113,
      "price_pnl_quote_units": 22342.921986213525,
      "turnover_quote_units": 212543.64238961067,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33860.67761106415,
      "return_pct": 238.6067761106415,
      "cagr_pct": 239.07876795426571,
      "max_drawdown_pct": 30.948778660383347,
      "mean_exposure_while_solvent": 1.3934067006465383,
      "realized_annual_volatility_pct": 57.26521631565381,
      "trading_costs_quote_units": 321.69677055400274,
      "borrowing_costs_quote_units": 819.5509049863263,
      "price_pnl_quote_units": 25001.925286604463,
      "turnover_quote_units": 107232.25685133434,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 25033.21318034979,
      "return_pct": 150.3321318034979,
      "cagr_pct": 150.59461441312462,
      "max_drawdown_pct": 21.203984916591434,
      "mean_exposure_while_solvent": 0.9898929376464225,
      "realized_annual_volatility_pct": 41.60449345279944,
      "trading_costs_quote_units": 53.77954915825637,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15086.99272950804,
      "turnover_quote_units": 17926.51638608545,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20497.07636309625,
      "return_pct": 104.97076363096252,
      "cagr_pct": 105.13883951245523,
      "max_drawdown_pct": 16.260106733098812,
      "mean_exposure_while_solvent": 0.7497826627998541,
      "realized_annual_volatility_pct": 31.66950242971305,
      "trading_costs_quote_units": 70.27004446855845,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10567.346407564832,
      "turnover_quote_units": 23423.348156186126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 25527.159297918828,
      "return_pct": 155.27159297918826,
      "cagr_pct": 155.5449573584395,
      "max_drawdown_pct": 21.203984916591434,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 42.14515509244507,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15557.069567111232,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 30393.924935222705,
      "return_pct": 203.93924935222705,
      "cagr_pct": 204.3253742585619,
      "max_drawdown_pct": 26.10484072881343,
      "mean_exposure_while_solvent": 1.2492824460554863,
      "realized_annual_volatility_pct": 52.58740700605847,
      "trading_costs_quote_units": 138.43624917258347,
      "borrowing_costs_quote_units": 483.6431718959995,
      "price_pnl_quote_units": 21016.004356291327,
      "turnover_quote_units": 46145.41639086112,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 35699.04734089543,
      "return_pct": 256.99047340895424,
      "cagr_pct": 257.50967685950167,
      "max_drawdown_pct": 30.94877866038329,
      "mean_exposure_while_solvent": 1.4989939124830445,
      "realized_annual_volatility_pct": 63.001359917253254,
      "trading_costs_quote_units": 313.2563900508701,
      "borrowing_costs_quote_units": 1070.4529620514802,
      "price_pnl_quote_units": 27082.756692997777,
      "turnover_quote_units": 104418.79668362341,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 27120.936981350427,
      "return_pct": 171.20936981350425,
      "cagr_pct": 171.51858119508617,
      "max_drawdown_pct": 26.86716613148973,
      "mean_exposure_while_solvent": 1.0504809917094238,
      "realized_annual_volatility_pct": 43.117760279708236,
      "trading_costs_quote_units": 475.122106780684,
      "borrowing_costs_quote_units": 387.38410701248813,
      "price_pnl_quote_units": 17983.443195143584,
      "turnover_quote_units": 158374.03559356128,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 31277.115020132296,
      "return_pct": 212.77115020132297,
      "cagr_pct": 213.1787401698461,
      "max_drawdown_pct": 31.518061670731424,
      "mean_exposure_while_solvent": 1.3941875112574216,
      "realized_annual_volatility_pct": 57.168808099152116,
      "trading_costs_quote_units": 416.46440350076335,
      "borrowing_costs_quote_units": 1586.1467150496665,
      "price_pnl_quote_units": 23279.726138682767,
      "turnover_quote_units": 138821.4678335876,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 32188.935551374256,
      "return_pct": 221.88935551374254,
      "cagr_pct": 222.3194058829877,
      "max_drawdown_pct": 31.581999061202424,
      "mean_exposure_while_solvent": 1.4722776571390694,
      "realized_annual_volatility_pct": 61.32648256427602,
      "trading_costs_quote_units": 322.4415560475773,
      "borrowing_costs_quote_units": 1885.8127913929197,
      "price_pnl_quote_units": 24397.189898814744,
      "turnover_quote_units": 107480.51868252583,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29762.46315403419,
      "return_pct": 197.6246315403419,
      "cagr_pct": 197.9955890447178,
      "max_drawdown_pct": 30.855005104114586,
      "mean_exposure_while_solvent": 1.381150273881947,
      "realized_annual_volatility_pct": 56.24622514542501,
      "trading_costs_quote_units": 627.241618404865,
      "borrowing_costs_quote_units": 1469.183909145174,
      "price_pnl_quote_units": 21858.888681584267,
      "turnover_quote_units": 209080.5394682882,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 32557.113632733788,
      "return_pct": 225.57113632733788,
      "cagr_pct": 226.01034012654023,
      "max_drawdown_pct": 31.518061670731434,
      "mean_exposure_while_solvent": 1.3934727377858471,
      "realized_annual_volatility_pct": 57.26912964297084,
      "trading_costs_quote_units": 316.4586317214499,
      "borrowing_costs_quote_units": 1603.5323928651158,
      "price_pnl_quote_units": 24477.10465732037,
      "turnover_quote_units": 105486.21057381672,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 25033.21318034979,
      "return_pct": 150.3321318034979,
      "cagr_pct": 150.59461441312462,
      "max_drawdown_pct": 21.203984916591434,
      "mean_exposure_while_solvent": 0.9898929376464225,
      "realized_annual_volatility_pct": 41.60449345279944,
      "trading_costs_quote_units": 53.77954915825637,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15086.99272950804,
      "turnover_quote_units": 17926.51638608545,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 20497.07636309625,
      "return_pct": 104.97076363096252,
      "cagr_pct": 105.13883951245523,
      "max_drawdown_pct": 16.260106733098812,
      "mean_exposure_while_solvent": 0.7497826627998541,
      "realized_annual_volatility_pct": 31.66950242971305,
      "trading_costs_quote_units": 70.27004446855845,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10567.346407564832,
      "turnover_quote_units": 23423.348156186126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 25527.159297918828,
      "return_pct": 155.27159297918826,
      "cagr_pct": 155.5449573584395,
      "max_drawdown_pct": 21.203984916591434,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 42.14515509244507,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15557.069567111232,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29646.303858894564,
      "return_pct": 196.46303858894564,
      "cagr_pct": 196.83122261081536,
      "max_drawdown_pct": 26.409641993521305,
      "mean_exposure_while_solvent": 1.2493180211451014,
      "realized_annual_volatility_pct": 52.58974939224906,
      "trading_costs_quote_units": 137.16113592242723,
      "borrowing_costs_quote_units": 954.187140199196,
      "price_pnl_quote_units": 20737.652135016207,
      "turnover_quote_units": 45720.37864080914,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 33964.75440611395,
      "return_pct": 239.6475440611395,
      "cagr_pct": 240.1221787757545,
      "max_drawdown_pct": 31.583186185324642,
      "mean_exposure_while_solvent": 1.4990792803069883,
      "realized_annual_volatility_pct": 63.006967152436076,
      "trading_costs_quote_units": 306.3550021741455,
      "borrowing_costs_quote_units": 2082.518268058155,
      "price_pnl_quote_units": 26353.627676346256,
      "turnover_quote_units": 102118.33405804851,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 27753.093314386977,
      "return_pct": 177.5309331438698,
      "cagr_pct": 177.854663480663,
      "max_drawdown_pct": 26.170456246812222,
      "mean_exposure_while_solvent": 1.0494091934691618,
      "realized_annual_volatility_pct": 43.134275161407835,
      "trading_costs_quote_units": 480.8212559297892,
      "borrowing_costs_quote_units": 97.95471062036036,
      "price_pnl_quote_units": 18331.869280937146,
      "turnover_quote_units": 160273.75197659642,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33137.50981779007,
      "return_pct": 231.37509817790072,
      "cagr_pct": 231.82882804877698,
      "max_drawdown_pct": 30.631450930970505,
      "mean_exposure_while_solvent": 1.3924174111866934,
      "realized_annual_volatility_pct": 57.20300064999265,
      "trading_costs_quote_units": 417.9608109034085,
      "borrowing_costs_quote_units": 407.9521988772478,
      "price_pnl_quote_units": 23963.42282757074,
      "turnover_quote_units": 139320.27030113604,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 34550.06420950785,
      "return_pct": 245.5006420950785,
      "cagr_pct": 245.99020755088654,
      "max_drawdown_pct": 30.649893638540814,
      "mean_exposure_while_solvent": 1.470402412935406,
      "realized_annual_volatility_pct": 61.32772833558916,
      "trading_costs_quote_units": 320.38980042087655,
      "borrowing_costs_quote_units": 489.47769847707843,
      "price_pnl_quote_units": 25359.931708405835,
      "turnover_quote_units": 106796.60014029217,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 31691.903896913318,
      "return_pct": 216.91903896913317,
      "cagr_pct": 217.3368090083739,
      "max_drawdown_pct": 29.986034602642874,
      "mean_exposure_while_solvent": 1.3792675469718525,
      "realized_annual_volatility_pct": 56.26506052247514,
      "trading_costs_quote_units": 633.150427732382,
      "borrowing_costs_quote_units": 378.0034967604553,
      "price_pnl_quote_units": 22703.057821406113,
      "turnover_quote_units": 211050.14257746047,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 34508.719057911425,
      "return_pct": 245.08719057911424,
      "cagr_pct": 245.57569760689213,
      "max_drawdown_pct": 30.63145093097045,
      "mean_exposure_while_solvent": 1.391711523493235,
      "realized_annual_volatility_pct": 57.2602986682609,
      "trading_costs_quote_units": 314.13282199720146,
      "borrowing_costs_quote_units": 413.2065631111007,
      "price_pnl_quote_units": 25236.05844301972,
      "turnover_quote_units": 104710.94066573393,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25000.16231069217,
      "return_pct": 150.00162310692167,
      "cagr_pct": 150.2633815544681,
      "max_drawdown_pct": 21.203984916591423,
      "mean_exposure_while_solvent": 0.9889617522550982,
      "realized_annual_volatility_pct": 41.61191464429679,
      "trading_costs_quote_units": 53.58814391973537,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15053.750454611918,
      "turnover_quote_units": 17862.714639911777,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 20465.896016243205,
      "return_pct": 104.65896016243205,
      "cagr_pct": 104.82642424218285,
      "max_drawdown_pct": 16.261581452875763,
      "mean_exposure_while_solvent": 0.74917844143069,
      "realized_annual_volatility_pct": 31.671431828906403,
      "trading_costs_quote_units": 67.61816387925367,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10533.51418012247,
      "turnover_quote_units": 22539.387959751242,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25473.409662603193,
      "return_pct": 154.73409662603194,
      "cagr_pct": 155.0062715431795,
      "max_drawdown_pct": 21.203984916591423,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 42.14494669853838,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15503.319931795586,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 30708.553819415934,
      "return_pct": 207.08553819415934,
      "cagr_pct": 207.47927658980788,
      "max_drawdown_pct": 26.0318640707871,
      "mean_exposure_while_solvent": 1.2480034297846119,
      "realized_annual_volatility_pct": 52.582722015163554,
      "trading_costs_quote_units": 133.00799290669738,
      "borrowing_costs_quote_units": 242.73185657613664,
      "price_pnl_quote_units": 21084.293668898812,
      "turnover_quote_units": 44335.99763556585,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 36527.370530795815,
      "return_pct": 265.27370530795815,
      "cagr_pct": 265.81453882785286,
      "max_drawdown_pct": 30.649893638540814,
      "mean_exposure_while_solvent": 1.4973115309515492,
      "realized_annual_volatility_pct": 62.99039571162265,
      "trading_costs_quote_units": 300.05419231431796,
      "borrowing_costs_quote_units": 541.0819218454883,
      "price_pnl_quote_units": 27368.506644955567,
      "turnover_quote_units": 100018.06410477264,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27586.68547572375,
      "return_pct": 175.86685475723746,
      "cagr_pct": 176.1867470083035,
      "max_drawdown_pct": 26.356959635332554,
      "mean_exposure_while_solvent": 1.0494185029657137,
      "realized_annual_volatility_pct": 43.1339880716972,
      "trading_costs_quote_units": 479.47900617560725,
      "borrowing_costs_quote_units": 195.30315407628188,
      "price_pnl_quote_units": 18261.467635975634,
      "turnover_quote_units": 159826.3353918692,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 32477.477502601243,
      "return_pct": 224.7747750260124,
      "cagr_pct": 225.21199489896756,
      "max_drawdown_pct": 30.91769384824201,
      "mean_exposure_while_solvent": 1.3924509105399892,
      "realized_annual_volatility_pct": 57.20437245094633,
      "trading_costs_quote_units": 414.43259620806003,
      "borrowing_costs_quote_units": 806.8157005551875,
      "price_pnl_quote_units": 23698.725799364536,
      "turnover_quote_units": 138144.19873601993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 33746.42179843706,
      "return_pct": 237.46421798437063,
      "cagr_pct": 237.9333126944619,
      "max_drawdown_pct": 30.917693848242024,
      "mean_exposure_while_solvent": 1.4704424276956454,
      "realized_annual_volatility_pct": 61.329752520818204,
      "trading_costs_quote_units": 317.2930785298132,
      "borrowing_costs_quote_units": 966.2026098260995,
      "price_pnl_quote_units": 25029.917486792954,
      "turnover_quote_units": 105764.35950993765,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 31076.683081818202,
      "return_pct": 210.76683081818203,
      "cagr_pct": 211.16952414761835,
      "max_drawdown_pct": 30.269975538964154,
      "mean_exposure_while_solvent": 1.3793002370085152,
      "realized_annual_volatility_pct": 56.26659334720683,
      "trading_costs_quote_units": 627.9388694089641,
      "borrowing_costs_quote_units": 747.8835116418165,
      "price_pnl_quote_units": 22452.50546286904,
      "turnover_quote_units": 209312.95646965457,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 33839.07473219518,
      "return_pct": 238.3907473219518,
      "cagr_pct": 238.86219105217927,
      "max_drawdown_pct": 30.91769384824188,
      "mean_exposure_while_solvent": 1.3917444338490412,
      "realized_annual_volatility_pct": 57.26166713019259,
      "trading_costs_quote_units": 311.4515635339284,
      "borrowing_costs_quote_units": 817.3702835824548,
      "price_pnl_quote_units": 24967.896579311422,
      "turnover_quote_units": 103817.18784464289,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 25000.16231069217,
      "return_pct": 150.00162310692167,
      "cagr_pct": 150.2633815544681,
      "max_drawdown_pct": 21.203984916591423,
      "mean_exposure_while_solvent": 0.9889617522550982,
      "realized_annual_volatility_pct": 41.61191464429679,
      "trading_costs_quote_units": 53.58814391973537,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15053.750454611918,
      "turnover_quote_units": 17862.714639911777,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20465.896016243205,
      "return_pct": 104.65896016243205,
      "cagr_pct": 104.82642424218285,
      "max_drawdown_pct": 16.261581452875763,
      "mean_exposure_while_solvent": 0.74917844143069,
      "realized_annual_volatility_pct": 31.671431828906403,
      "trading_costs_quote_units": 67.61816387925367,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10533.51418012247,
      "turnover_quote_units": 22539.387959751242,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 25473.409662603193,
      "return_pct": 154.73409662603194,
      "cagr_pct": 155.0062715431795,
      "max_drawdown_pct": 21.203984916591423,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 42.14494669853838,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15503.319931795586,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 30328.993323490322,
      "return_pct": 203.28993323490323,
      "cagr_pct": 203.67449153445665,
      "max_drawdown_pct": 26.091284436381635,
      "mean_exposure_while_solvent": 1.2480211749658117,
      "realized_annual_volatility_pct": 52.58357168775439,
      "trading_costs_quote_units": 132.38035160340078,
      "borrowing_costs_quote_units": 482.1602279487672,
      "price_pnl_quote_units": 20943.533903042484,
      "turnover_quote_units": 44126.78386780026,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 35630.23314578825,
      "return_pct": 256.3023314578825,
      "cagr_pct": 256.8197477893807,
      "max_drawdown_pct": 30.91769384824199,
      "mean_exposure_while_solvent": 1.497354105816042,
      "realized_annual_volatility_pct": 62.99242962433195,
      "trading_costs_quote_units": 296.69452589263324,
      "borrowing_costs_quote_units": 1067.243135434625,
      "price_pnl_quote_units": 26994.170807115435,
      "turnover_quote_units": 98898.17529754448,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 27256.7517217475,
      "return_pct": 172.56751721747497,
      "cagr_pct": 172.87983381030747,
      "max_drawdown_pct": 26.728689337275636,
      "mean_exposure_while_solvent": 1.0494371253874775,
      "realized_annual_volatility_pct": 43.13343447004204,
      "trading_costs_quote_units": 476.82747742250024,
      "borrowing_costs_quote_units": 388.1950745568365,
      "price_pnl_quote_units": 18121.774273726864,
      "turnover_quote_units": 158942.4924741669,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 31196.15451324015,
      "return_pct": 211.9615451324015,
      "cagr_pct": 212.36715542508838,
      "max_drawdown_pct": 31.486835038114226,
      "mean_exposure_while_solvent": 1.3925179231185294,
      "realized_annual_volatility_pct": 57.20712967215354,
      "trading_costs_quote_units": 407.58787927028646,
      "borrowing_costs_quote_units": 1578.0344737049465,
      "price_pnl_quote_units": 23181.77686621536,
      "turnover_quote_units": 135862.6264234291,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 32194.187096043734,
      "return_pct": 221.9418709604373,
      "cagr_pct": 222.37205155288996,
      "max_drawdown_pct": 31.61552888215191,
      "mean_exposure_while_solvent": 1.4705224743828316,
      "realized_annual_volatility_pct": 61.333809537826724,
      "trading_costs_quote_units": 311.3510370803482,
      "borrowing_costs_quote_units": 1882.634533526383,
      "price_pnl_quote_units": 24388.17266665048,
      "turnover_quote_units": 103783.67902678266,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29881.476432392396,
      "return_pct": 198.81476432392398,
      "cagr_pct": 199.18856883677688,
      "max_drawdown_pct": 30.834599846176502,
      "mean_exposure_while_solvent": 1.3793656306829796,
      "realized_annual_volatility_pct": 56.26967672089962,
      "trading_costs_quote_units": 617.7562942752294,
      "borrowing_costs_quote_units": 1463.9314231122896,
      "price_pnl_quote_units": 21963.164149779896,
      "turnover_quote_units": 205918.76475840987,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 32538.089422311263,
      "return_pct": 225.38089422311262,
      "cagr_pct": 225.81962388082934,
      "max_drawdown_pct": 31.486835038114315,
      "mean_exposure_while_solvent": 1.3918102683930853,
      "realized_annual_volatility_pct": 57.264424337085615,
      "trading_costs_quote_units": 306.2553853498393,
      "borrowing_costs_quote_units": 1599.306685335205,
      "price_pnl_quote_units": 24443.6514929963,
      "turnover_quote_units": 102085.12844994638,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 25000.16231069217,
      "return_pct": 150.00162310692167,
      "cagr_pct": 150.2633815544681,
      "max_drawdown_pct": 21.203984916591423,
      "mean_exposure_while_solvent": 0.9889617522550982,
      "realized_annual_volatility_pct": 41.61191464429679,
      "trading_costs_quote_units": 53.58814391973537,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15053.750454611918,
      "turnover_quote_units": 17862.714639911777,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20465.896016243205,
      "return_pct": 104.65896016243205,
      "cagr_pct": 104.82642424218285,
      "max_drawdown_pct": 16.261581452875763,
      "mean_exposure_while_solvent": 0.74917844143069,
      "realized_annual_volatility_pct": 31.671431828906403,
      "trading_costs_quote_units": 67.61816387925367,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10533.51418012247,
      "turnover_quote_units": 22539.387959751242,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 25473.409662603193,
      "return_pct": 154.73409662603194,
      "cagr_pct": 155.0062715431795,
      "max_drawdown_pct": 21.203984916591423,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 42.14494669853838,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15503.319931795586,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29583.655224537462,
      "return_pct": 195.8365522453746,
      "cagr_pct": 196.20324259593426,
      "max_drawdown_pct": 26.395965388669516,
      "mean_exposure_while_solvent": 1.2480566707859482,
      "realized_annual_volatility_pct": 52.585272502060654,
      "trading_costs_quote_units": 131.1842991845287,
      "borrowing_costs_quote_units": 951.2740578151414,
      "price_pnl_quote_units": 20666.1135815371,
      "turnover_quote_units": 43728.09972817622,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33900.86705668398,
      "return_pct": 239.0086705668398,
      "cagr_pct": 239.48168252646101,
      "max_drawdown_pct": 31.617118149345067,
      "mean_exposure_while_solvent": 1.4974392739748779,
      "realized_annual_volatility_pct": 62.99650136346665,
      "trading_costs_quote_units": 290.25992979932636,
      "borrowing_costs_quote_units": 2076.3356614090703,
      "price_pnl_quote_units": 26267.46264789234,
      "turnover_quote_units": 96753.30993310885,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 28359.584768777215,
      "return_pct": 183.59584768777216,
      "cagr_pct": 183.93366251321615,
      "max_drawdown_pct": 25.94827795128769,
      "mean_exposure_while_solvent": 1.0554530822509218,
      "realized_annual_volatility_pct": 43.12579006544013,
      "trading_costs_quote_units": 96.8020012304928,
      "borrowing_costs_quote_units": 102.35454372994006,
      "price_pnl_quote_units": 18558.74131373763,
      "turnover_quote_units": 161336.66871748818,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 33756.27702635701,
      "return_pct": 237.56277026357014,
      "cagr_pct": 238.03211469393673,
      "max_drawdown_pct": 30.33742198456697,
      "mean_exposure_while_solvent": 1.3963573617380935,
      "realized_annual_volatility_pct": 57.00419503862088,
      "trading_costs_quote_units": 86.21450404014104,
      "borrowing_costs_quote_units": 416.80088045071665,
      "price_pnl_quote_units": 24259.29241084789,
      "turnover_quote_units": 143690.84006690176,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 35025.722974562246,
      "return_pct": 250.25722974562248,
      "cagr_pct": 250.7590125549725,
      "max_drawdown_pct": 30.57989832715422,
      "mean_exposure_while_solvent": 1.4728742833007704,
      "realized_annual_volatility_pct": 61.058505614651125,
      "trading_costs_quote_units": 66.42892792865902,
      "borrowing_costs_quote_units": 495.67493906511345,
      "price_pnl_quote_units": 25587.826841555874,
      "turnover_quote_units": 110714.87988109839,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 32448.133953201068,
      "return_pct": 224.48133953201065,
      "cagr_pct": 224.917828950424,
      "max_drawdown_pct": 29.646139258832093,
      "mean_exposure_while_solvent": 1.383176931781006,
      "realized_annual_volatility_pct": 56.078164650006514,
      "trading_costs_quote_units": 129.83922115525039,
      "borrowing_costs_quote_units": 388.21768634877805,
      "price_pnl_quote_units": 22966.190860705137,
      "turnover_quote_units": 216398.70192541718,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 35053.04150027474,
      "return_pct": 250.53041500274736,
      "cagr_pct": 251.03290174735912,
      "max_drawdown_pct": 30.33742198456698,
      "mean_exposure_while_solvent": 1.3961099887404722,
      "realized_annual_volatility_pct": 57.07728521932809,
      "trading_costs_quote_units": 65.1108804561163,
      "borrowing_costs_quote_units": 421.2716375254936,
      "price_pnl_quote_units": 25539.42401825636,
      "turnover_quote_units": 108518.1340935271,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25122.100585969525,
      "return_pct": 151.22100585969525,
      "cagr_pct": 151.48543851554942,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9904088334295441,
      "realized_annual_volatility_pct": 41.43278737991463,
      "trading_costs_quote_units": 10.804304246262012,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15132.904890215801,
      "turnover_quote_units": 18007.173743770018,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20574.40023675706,
      "return_pct": 105.7440023675706,
      "cagr_pct": 105.91359779116934,
      "max_drawdown_pct": 16.2305781594301,
      "mean_exposure_while_solvent": 0.7497874125936316,
      "realized_annual_volatility_pct": 31.51036109550328,
      "trading_costs_quote_units": 14.035217634720432,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10588.435454391785,
      "turnover_quote_units": 23392.029391200715,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25570.45820298631,
      "return_pct": 155.70458202986308,
      "cagr_pct": 155.9789055421363,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 41.93006751989433,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15576.45460514504,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 30970.167554593394,
      "return_pct": 209.70167554593394,
      "cagr_pct": 210.1017726711973,
      "max_drawdown_pct": 25.990819640107276,
      "mean_exposure_while_solvent": 1.2492564463860234,
      "realized_annual_volatility_pct": 52.31611700263865,
      "trading_costs_quote_units": 27.832145657138522,
      "borrowing_costs_quote_units": 244.54432590154184,
      "price_pnl_quote_units": 21242.544026152056,
      "turnover_quote_units": 46386.9094285642,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 37064.25879425379,
      "return_pct": 270.6425879425379,
      "cagr_pct": 271.1975564674316,
      "max_drawdown_pct": 30.57989832715422,
      "mean_exposure_while_solvent": 1.4989311655215278,
      "realized_annual_volatility_pct": 62.67265962698292,
      "trading_costs_quote_units": 63.57755648093688,
      "borrowing_costs_quote_units": 547.2091379441703,
      "price_pnl_quote_units": 27675.04548867884,
      "turnover_quote_units": 105962.59413489483,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 28184.648836593587,
      "return_pct": 181.84648836593587,
      "cagr_pct": 182.18022529405968,
      "max_drawdown_pct": 26.138924310512067,
      "mean_exposure_while_solvent": 1.0554627132725392,
      "realized_annual_volatility_pct": 43.12577580442073,
      "trading_costs_quote_units": 96.5246617958961,
      "borrowing_costs_quote_units": 204.0564269462026,
      "price_pnl_quote_units": 18485.22992533565,
      "turnover_quote_units": 160874.43632649348,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33080.329603131846,
      "return_pct": 230.80329603131844,
      "cagr_pct": 231.2555896021977,
      "max_drawdown_pct": 30.624715898759693,
      "mean_exposure_while_solvent": 1.3963911343432278,
      "realized_annual_volatility_pct": 57.00616330438317,
      "trading_costs_quote_units": 85.48760757777795,
      "borrowing_costs_quote_units": 824.2468722044382,
      "price_pnl_quote_units": 23990.064082914054,
      "turnover_quote_units": 142479.3459629633,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 34208.99394972241,
      "return_pct": 242.0899394972241,
      "cagr_pct": 242.57079062108994,
      "max_drawdown_pct": 30.685298773483982,
      "mean_exposure_while_solvent": 1.4729144707865285,
      "realized_annual_volatility_pct": 61.06124246473021,
      "trading_costs_quote_units": 65.7702236455303,
      "borrowing_costs_quote_units": 978.3874530956437,
      "price_pnl_quote_units": 25253.151626463514,
      "turnover_quote_units": 109617.03940921709,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 31814.870470561324,
      "return_pct": 218.14870470561326,
      "cagr_pct": 218.56950466704558,
      "max_drawdown_pct": 29.931986958508393,
      "mean_exposure_while_solvent": 1.383209903338198,
      "realized_annual_volatility_pct": 56.08029736960927,
      "trading_costs_quote_units": 128.75930900213856,
      "borrowing_costs_quote_units": 768.0250952695565,
      "price_pnl_quote_units": 22711.654874833024,
      "turnover_quote_units": 214598.84833689762,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 34367.24318065154,
      "return_pct": 243.67243180651536,
      "cagr_pct": 244.1573213738099,
      "max_drawdown_pct": 30.624715898759757,
      "mean_exposure_while_solvent": 1.3961432249013521,
      "realized_annual_volatility_pct": 57.07921765011575,
      "trading_costs_quote_units": 64.5684913274658,
      "borrowing_costs_quote_units": 833.2313801274844,
      "price_pnl_quote_units": 25265.0430521066,
      "turnover_quote_units": 107614.15221244296,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 25122.100585969525,
      "return_pct": 151.22100585969525,
      "cagr_pct": 151.48543851554942,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9904088334295441,
      "realized_annual_volatility_pct": 41.43278737991463,
      "trading_costs_quote_units": 10.804304246262012,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15132.904890215801,
      "turnover_quote_units": 18007.173743770018,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20574.40023675706,
      "return_pct": 105.7440023675706,
      "cagr_pct": 105.91359779116934,
      "max_drawdown_pct": 16.2305781594301,
      "mean_exposure_while_solvent": 0.7497874125936316,
      "realized_annual_volatility_pct": 31.51036109550328,
      "trading_costs_quote_units": 14.035217634720432,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10588.435454391785,
      "turnover_quote_units": 23392.029391200715,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 25570.45820298631,
      "return_pct": 155.70458202986308,
      "cagr_pct": 155.9789055421363,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 41.93006751989433,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15576.45460514504,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 30587.0160935575,
      "return_pct": 205.870160935575,
      "cagr_pct": 206.2609539275417,
      "max_drawdown_pct": 26.046856114990568,
      "mean_exposure_while_solvent": 1.249274230798038,
      "realized_annual_volatility_pct": 52.31727228889651,
      "trading_costs_quote_units": 27.699866711557856,
      "borrowing_costs_quote_units": 485.7546263860764,
      "price_pnl_quote_units": 21100.470586655152,
      "turnover_quote_units": 46166.444519263096,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 36153.11007188267,
      "return_pct": 261.5311007188267,
      "cagr_pct": 262.06213421347724,
      "max_drawdown_pct": 30.685298773483982,
      "mean_exposure_while_solvent": 1.4989738388267642,
      "realized_annual_volatility_pct": 62.675423466715465,
      "trading_costs_quote_units": 62.857556219438955,
      "borrowing_costs_quote_units": 1079.2883123896715,
      "price_pnl_quote_units": 27295.255940491752,
      "turnover_quote_units": 104762.59369906492,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 27837.91723583128,
      "return_pct": 178.3791723583128,
      "cagr_pct": 178.70486350144574,
      "max_drawdown_pct": 26.518842214843673,
      "mean_exposure_while_solvent": 1.0554819788874783,
      "realized_annual_volatility_pct": 43.12577036699256,
      "trading_costs_quote_units": 95.97580564989045,
      "borrowing_costs_quote_units": 405.5176589479158,
      "price_pnl_quote_units": 18339.410700429074,
      "turnover_quote_units": 159959.67608315102,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 31768.415688298566,
      "return_pct": 217.68415688298566,
      "cagr_pct": 218.10381154816096,
      "max_drawdown_pct": 31.195917218923096,
      "mean_exposure_while_solvent": 1.3964586935647527,
      "realized_annual_volatility_pct": 57.01011360971621,
      "trading_costs_quote_units": 84.0697171721003,
      "borrowing_costs_quote_units": 1611.8616354005396,
      "price_pnl_quote_units": 23464.347040871187,
      "turnover_quote_units": 140116.19528683374,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 32631.789994172723,
      "return_pct": 226.31789994172723,
      "cagr_pct": 226.75896613380152,
      "max_drawdown_pct": 31.200856642852635,
      "mean_exposure_while_solvent": 1.4729948630051475,
      "realized_annual_volatility_pct": 61.066721673242355,
      "trading_costs_quote_units": 64.4932076473852,
      "borrowing_costs_quote_units": 1906.1960559050497,
      "price_pnl_quote_units": 24602.479257725186,
      "turnover_quote_units": 107488.67941230863,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 30584.836565370777,
      "return_pct": 205.8483656537078,
      "cagr_pct": 206.2391058763377,
      "max_drawdown_pct": 30.500364636719446,
      "mean_exposure_while_solvent": 1.3832758602028021,
      "realized_annual_volatility_pct": 56.08457986549374,
      "trading_costs_quote_units": 126.65658820938954,
      "borrowing_costs_quote_units": 1503.0960335420875,
      "price_pnl_quote_units": 22214.589187122278,
      "turnover_quote_units": 211094.3136823157,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 33035.27543688651,
      "return_pct": 230.35275436886513,
      "cagr_pct": 230.8039170288839,
      "max_drawdown_pct": 31.19591721892312,
      "mean_exposure_while_solvent": 1.3962097111986977,
      "realized_annual_volatility_pct": 57.083100823505525,
      "trading_costs_quote_units": 63.51309727123421,
      "borrowing_costs_quote_units": 1629.9834334903105,
      "price_pnl_quote_units": 24728.771967648034,
      "turnover_quote_units": 105855.16211872365,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 25122.100585969525,
      "return_pct": 151.22100585969525,
      "cagr_pct": 151.48543851554942,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9904088334295441,
      "realized_annual_volatility_pct": 41.43278737991463,
      "trading_costs_quote_units": 10.804304246262012,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15132.904890215801,
      "turnover_quote_units": 18007.173743770018,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 20574.40023675706,
      "return_pct": 105.7440023675706,
      "cagr_pct": 105.91359779116934,
      "max_drawdown_pct": 16.2305781594301,
      "mean_exposure_while_solvent": 0.7497874125936316,
      "realized_annual_volatility_pct": 31.51036109550328,
      "trading_costs_quote_units": 14.035217634720432,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10588.435454391785,
      "turnover_quote_units": 23392.029391200715,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 25570.45820298631,
      "return_pct": 155.70458202986308,
      "cagr_pct": 155.9789055421363,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 41.93006751989433,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15576.45460514504,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29834.703151066093,
      "return_pct": 198.34703151066094,
      "cagr_pct": 198.71971647530034,
      "max_drawdown_pct": 26.158826806060574,
      "mean_exposure_while_solvent": 1.2493098050942208,
      "realized_annual_volatility_pct": 52.31958317802046,
      "trading_costs_quote_units": 27.442673524388905,
      "borrowing_costs_quote_units": 958.3436917057506,
      "price_pnl_quote_units": 20820.48951629618,
      "turnover_quote_units": 45737.78920731482,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 34396.9707272925,
      "return_pct": 243.969707272925,
      "cagr_pct": 244.45535640479144,
      "max_drawdown_pct": 31.200856642852536,
      "mean_exposure_while_solvent": 1.499059203916775,
      "realized_annual_volatility_pct": 62.6809523941092,
      "trading_costs_quote_units": 61.465159194237636,
      "borrowing_costs_quote_units": 2099.6197019599335,
      "price_pnl_quote_units": 26558.055588446674,
      "turnover_quote_units": 102441.93199039609,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 28495.511998494203,
      "return_pct": 184.95511998494206,
      "cagr_pct": 185.29611191552942,
      "max_drawdown_pct": 25.824364177455905,
      "mean_exposure_while_solvent": 1.0543894064881352,
      "realized_annual_volatility_pct": 43.13890656446909,
      "trading_costs_quote_units": 97.37194642608756,
      "borrowing_costs_quote_units": 102.59005228078824,
      "price_pnl_quote_units": 18695.473997201098,
      "turnover_quote_units": 162286.5773768125,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33697.59047227244,
      "return_pct": 236.97590472272435,
      "cagr_pct": 237.44376258884583,
      "max_drawdown_pct": 30.300159776096468,
      "mean_exposure_while_solvent": 1.394697458617304,
      "realized_annual_volatility_pct": 57.041873285012876,
      "trading_costs_quote_units": 83.8699584207544,
      "borrowing_costs_quote_units": 415.01326888275895,
      "price_pnl_quote_units": 24196.473699576014,
      "turnover_quote_units": 139783.2640345907,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 35043.67965215829,
      "return_pct": 250.4367965215829,
      "cagr_pct": 250.93904200554232,
      "max_drawdown_pct": 30.576605543616843,
      "mean_exposure_while_solvent": 1.4711722525846926,
      "realized_annual_volatility_pct": 61.0760540411505,
      "trading_costs_quote_units": 64.09731011063998,
      "borrowing_costs_quote_units": 495.10505380113966,
      "price_pnl_quote_units": 25602.88201607013,
      "turnover_quote_units": 106828.85018439998,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 32581.826232651143,
      "return_pct": 225.81826232651144,
      "cagr_pct": 226.2580822292943,
      "max_drawdown_pct": 29.619264259263712,
      "mean_exposure_while_solvent": 1.3814067115518651,
      "realized_annual_volatility_pct": 56.10847710846596,
      "trading_costs_quote_units": 128.0866595845308,
      "borrowing_costs_quote_units": 387.1370082779144,
      "price_pnl_quote_units": 23097.04990051353,
      "turnover_quote_units": 213477.76597421805,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 35043.41422755499,
      "return_pct": 250.43414227554987,
      "cagr_pct": 250.93638091976948,
      "max_drawdown_pct": 30.30015977609658,
      "mean_exposure_while_solvent": 1.3944645032420335,
      "realized_annual_volatility_pct": 57.07323903938287,
      "trading_costs_quote_units": 63.02468526817048,
      "borrowing_costs_quote_units": 420.33857914632136,
      "price_pnl_quote_units": 25526.77749196944,
      "turnover_quote_units": 105041.14211361733,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25097.602704562647,
      "return_pct": 150.97602704562644,
      "cagr_pct": 151.23992189761842,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9894726807724965,
      "realized_annual_volatility_pct": 41.43901956203272,
      "trading_costs_quote_units": 10.749647014715482,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15108.352351577363,
      "turnover_quote_units": 17916.078357859133,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 20542.33776321108,
      "return_pct": 105.42337763211079,
      "cagr_pct": 105.59234257075079,
      "max_drawdown_pct": 16.232182852005216,
      "mean_exposure_while_solvent": 0.7491632755529588,
      "realized_annual_volatility_pct": 31.50922659532146,
      "trading_costs_quote_units": 13.55437700054301,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10555.892140211605,
      "turnover_quote_units": 22590.62833423834,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25520.209016609984,
      "return_pct": 155.20209016609985,
      "cagr_pct": 155.47530066488534,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 41.92986170679306,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15526.205418768699,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 30902.81632988469,
      "return_pct": 209.0281632988469,
      "cagr_pct": 209.4266209722026,
      "max_drawdown_pct": 25.988945216356374,
      "mean_exposure_while_solvent": 1.248028235238744,
      "realized_annual_volatility_pct": 52.31737319173225,
      "trading_costs_quote_units": 26.714914610671407,
      "borrowing_costs_quote_units": 243.83105077155338,
      "price_pnl_quote_units": 21173.362295266907,
      "turnover_quote_units": 44524.85768445231,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 36981.389361998736,
      "return_pct": 269.81389361998737,
      "cagr_pct": 270.36667454311305,
      "max_drawdown_pct": 30.576605543616843,
      "mean_exposure_while_solvent": 1.497370525796318,
      "realized_annual_volatility_pct": 62.676008205960606,
      "trading_costs_quote_units": 60.46786721688087,
      "borrowing_costs_quote_units": 545.5602730541027,
      "price_pnl_quote_units": 27587.417502269825,
      "turnover_quote_units": 100779.77869480145,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 28319.76622047464,
      "return_pct": 183.19766220474642,
      "cagr_pct": 183.53454773918793,
      "max_drawdown_pct": 26.015077768836882,
      "mean_exposure_while_solvent": 1.0543990179505216,
      "realized_annual_volatility_pct": 43.13861328350279,
      "trading_costs_quote_units": 97.0927330086091,
      "borrowing_costs_quote_units": 204.52496950328802,
      "price_pnl_quote_units": 18621.383922986515,
      "turnover_quote_units": 161821.2216810152,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 33023.50463104742,
      "return_pct": 230.23504631047422,
      "cagr_pct": 230.68591362573807,
      "max_drawdown_pct": 30.587463328831777,
      "mean_exposure_while_solvent": 1.394731133488898,
      "realized_annual_volatility_pct": 57.04325018805312,
      "trading_costs_quote_units": 83.16628049314924,
      "borrowing_costs_quote_units": 820.7192801884634,
      "price_pnl_quote_units": 23927.390191729115,
      "turnover_quote_units": 138610.46748858233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 34227.351995218974,
      "return_pct": 242.27351995218976,
      "cagr_pct": 242.7548391354073,
      "max_drawdown_pct": 30.682019559017192,
      "mean_exposure_while_solvent": 1.4712123291558223,
      "realized_annual_volatility_pct": 61.0780542775061,
      "trading_costs_quote_units": 63.47236777719571,
      "borrowing_costs_quote_units": 977.2712864525696,
      "price_pnl_quote_units": 25268.09564944884,
      "turnover_quote_units": 105787.27962865953,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 31946.74703405681,
      "return_pct": 219.46747034056813,
      "cagr_pct": 219.89152581472672,
      "max_drawdown_pct": 29.905078117278762,
      "mean_exposure_while_solvent": 1.3814395693565922,
      "realized_annual_volatility_pct": 56.10999339916112,
      "trading_costs_quote_units": 127.032798375762,
      "borrowing_costs_quote_units": 765.890791025495,
      "price_pnl_quote_units": 22839.670623458052,
      "turnover_quote_units": 211721.3306262701,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 34358.64239216877,
      "return_pct": 243.58642392168767,
      "cagr_pct": 244.07109378628823,
      "max_drawdown_pct": 30.587463328831667,
      "mean_exposure_while_solvent": 1.3944976381984826,
      "realized_annual_volatility_pct": 57.07459004778478,
      "trading_costs_quote_units": 62.486094161813945,
      "borrowing_costs_quote_units": 831.3951894135644,
      "price_pnl_quote_units": 25252.52367574412,
      "turnover_quote_units": 104143.49026968978,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 25097.602704562647,
      "return_pct": 150.97602704562644,
      "cagr_pct": 151.23992189761842,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9894726807724965,
      "realized_annual_volatility_pct": 41.43901956203272,
      "trading_costs_quote_units": 10.749647014715482,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15108.352351577363,
      "turnover_quote_units": 17916.078357859133,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20542.33776321108,
      "return_pct": 105.42337763211079,
      "cagr_pct": 105.59234257075079,
      "max_drawdown_pct": 16.232182852005216,
      "mean_exposure_while_solvent": 0.7491632755529588,
      "realized_annual_volatility_pct": 31.50922659532146,
      "trading_costs_quote_units": 13.55437700054301,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10555.892140211605,
      "turnover_quote_units": 22590.62833423834,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 25520.209016609984,
      "return_pct": 155.20209016609985,
      "cagr_pct": 155.47530066488534,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 41.92986170679306,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15526.205418768699,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 30520.854694670554,
      "return_pct": 205.20854694670555,
      "cagr_pct": 205.5977388741696,
      "max_drawdown_pct": 26.044986522860636,
      "mean_exposure_while_solvent": 1.2480459830115296,
      "realized_annual_volatility_pct": 52.3182072037514,
      "trading_costs_quote_units": 26.58713423090666,
      "borrowing_costs_quote_units": 484.3413578814937,
      "price_pnl_quote_units": 21031.783186782923,
      "turnover_quote_units": 44311.89038484437,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 36073.127047971866,
      "return_pct": 260.73127047971866,
      "cagr_pct": 261.2602153537284,
      "max_drawdown_pct": 30.682019559017192,
      "mean_exposure_while_solvent": 1.497413108840651,
      "realized_annual_volatility_pct": 62.67800359366249,
      "trading_costs_quote_units": 59.78657909770206,
      "borrowing_costs_quote_units": 1076.0541819920743,
      "price_pnl_quote_units": 27208.96780906168,
      "turnover_quote_units": 99644.29849617003,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 27971.434778919473,
      "return_pct": 179.7143477891947,
      "cagr_pct": 180.04313134031116,
      "max_drawdown_pct": 26.39513160891659,
      "mean_exposure_while_solvent": 1.0544182444379497,
      "realized_annual_volatility_pct": 43.13804987255331,
      "trading_costs_quote_units": 96.53804724010661,
      "borrowing_costs_quote_units": 406.4449983633715,
      "price_pnl_quote_units": 18474.41782452291,
      "turnover_quote_units": 160896.74540017772,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 31715.171114101577,
      "return_pct": 217.15171114101577,
      "cagr_pct": 217.57005407100914,
      "max_drawdown_pct": 31.158683858706127,
      "mean_exposure_while_solvent": 1.3947984971960292,
      "realized_annual_volatility_pct": 57.04601791828458,
      "trading_costs_quote_units": 81.79050325501406,
      "borrowing_costs_quote_units": 1604.9926133916658,
      "price_pnl_quote_units": 23401.95423074829,
      "turnover_quote_units": 136317.50542502347,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 32650.870989550895,
      "return_pct": 226.50870989550893,
      "cagr_pct": 226.9502522725372,
      "max_drawdown_pct": 31.220579767611014,
      "mean_exposure_while_solvent": 1.4712924994877337,
      "realized_annual_volatility_pct": 61.08206044108352,
      "trading_costs_quote_units": 62.2583530776952,
      "borrowing_costs_quote_units": 1904.0547041067216,
      "price_pnl_quote_units": 24617.18404673546,
      "turnover_quote_units": 103763.92179615864,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 30713.156995877856,
      "return_pct": 207.13156995877858,
      "cagr_pct": 207.52542001839197,
      "max_drawdown_pct": 30.473388495875554,
      "mean_exposure_while_solvent": 1.3815052986558438,
      "realized_annual_volatility_pct": 56.11304306977597,
      "trading_costs_quote_units": 124.97086111790397,
      "borrowing_costs_quote_units": 1498.9333569210305,
      "price_pnl_quote_units": 22337.06121391679,
      "turnover_quote_units": 208284.76852984013,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33028.62604747852,
      "return_pct": 230.28626047478525,
      "cagr_pct": 230.7372562871142,
      "max_drawdown_pct": 31.158683858706016,
      "mean_exposure_while_solvent": 1.3945639220359858,
      "realized_annual_volatility_pct": 57.07731043920447,
      "trading_costs_quote_units": 61.433940358920374,
      "borrowing_costs_quote_units": 1626.42752182775,
      "price_pnl_quote_units": 24716.48750966527,
      "turnover_quote_units": 102389.90059820062,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 25097.602704562647,
      "return_pct": 150.97602704562644,
      "cagr_pct": 151.23992189761842,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9894726807724965,
      "realized_annual_volatility_pct": 41.43901956203272,
      "trading_costs_quote_units": 10.749647014715482,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15108.352351577363,
      "turnover_quote_units": 17916.078357859133,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20542.33776321108,
      "return_pct": 105.42337763211079,
      "cagr_pct": 105.59234257075079,
      "max_drawdown_pct": 16.232182852005216,
      "mean_exposure_while_solvent": 0.7491632755529588,
      "realized_annual_volatility_pct": 31.50922659532146,
      "trading_costs_quote_units": 13.55437700054301,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10555.892140211605,
      "turnover_quote_units": 22590.62833423834,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 25520.209016609984,
      "return_pct": 155.20209016609985,
      "cagr_pct": 155.47530066488534,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 41.92986170679306,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15526.205418768699,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29770.8659145613,
      "return_pct": 197.70865914561298,
      "cagr_pct": 198.07981748041047,
      "max_drawdown_pct": 26.15697407206842,
      "mean_exposure_while_solvent": 1.248081484015851,
      "realized_annual_volatility_pct": 52.31987560722457,
      "trading_costs_quote_units": 26.338029948070513,
      "borrowing_costs_quote_units": 955.569437318957,
      "price_pnl_quote_units": 20752.77338182831,
      "turnover_quote_units": 43896.71658011748,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 34322.4923386719,
      "return_pct": 243.224923386719,
      "cagr_pct": 243.70867008652343,
      "max_drawdown_pct": 31.220579767610634,
      "mean_exposure_while_solvent": 1.4974982933639758,
      "realized_annual_volatility_pct": 62.68199564485543,
      "trading_costs_quote_units": 58.46717878921203,
      "borrowing_costs_quote_units": 2093.3976225466117,
      "price_pnl_quote_units": 26474.357140007687,
      "turnover_quote_units": 97445.29798201997,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 27722.951917169084,
      "return_pct": 177.22951917169084,
      "cagr_pct": 177.55255346822577,
      "max_drawdown_pct": 26.183504055954522,
      "mean_exposure_while_solvent": 1.055453082250922,
      "realized_annual_volatility_pct": 43.12526060892383,
      "trading_costs_quote_units": 477.8256403087372,
      "borrowing_costs_quote_units": 100.8948203081565,
      "price_pnl_quote_units": 18301.67237778597,
      "turnover_quote_units": 159275.21343624577,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 33135.9188483646,
      "return_pct": 231.359188483646,
      "cagr_pct": 231.81287837594658,
      "max_drawdown_pct": 30.412491884314996,
      "mean_exposure_while_solvent": 1.3963573617380935,
      "realized_annual_volatility_pct": 57.00128963515394,
      "trading_costs_quote_units": 426.2046894692677,
      "borrowing_costs_quote_units": 411.2862569182694,
      "price_pnl_quote_units": 23973.40979475213,
      "turnover_quote_units": 142068.22982308912,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 34521.36607610462,
      "return_pct": 245.21366076104619,
      "cagr_pct": 245.7024914899071,
      "max_drawdown_pct": 30.63157952914537,
      "mean_exposure_while_solvent": 1.4728742833007704,
      "realized_annual_volatility_pct": 61.057657303011126,
      "trading_costs_quote_units": 329.09376992725157,
      "borrowing_costs_quote_units": 490.5267703950034,
      "price_pnl_quote_units": 25340.98661642684,
      "turnover_quote_units": 109697.92330908388,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 31548.006061822314,
      "return_pct": 215.48006061822315,
      "cagr_pct": 215.89429192245487,
      "max_drawdown_pct": 29.761950601500565,
      "mean_exposure_while_solvent": 1.383176931781006,
      "realized_annual_volatility_pct": 56.08158030387186,
      "trading_costs_quote_units": 638.5117015807787,
      "borrowing_costs_quote_units": 380.6255650485621,
      "price_pnl_quote_units": 22567.143328451635,
      "turnover_quote_units": 212837.23386025964,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 34557.40704498641,
      "return_pct": 245.57407044986408,
      "cagr_pct": 246.06382394012493,
      "max_drawdown_pct": 30.412491884315084,
      "mean_exposure_while_solvent": 1.3961099887404722,
      "realized_annual_volatility_pct": 57.07698062086626,
      "trading_costs_quote_units": 322.5834571220908,
      "borrowing_costs_quote_units": 416.90205653668363,
      "price_pnl_quote_units": 25296.892558645217,
      "turnover_quote_units": 107527.81904069686,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25032.85973299614,
      "return_pct": 150.3285973299614,
      "cagr_pct": 150.59107219272602,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9904088334295441,
      "realized_annual_volatility_pct": 41.433685137532514,
      "trading_costs_quote_units": 53.877999987765484,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15086.737732983871,
      "turnover_quote_units": 17959.333329255158,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20486.106652607617,
      "return_pct": 104.86106652607616,
      "cagr_pct": 105.02892710467324,
      "max_drawdown_pct": 16.245711068356382,
      "mean_exposure_while_solvent": 0.7497874125936316,
      "realized_annual_volatility_pct": 31.51046069955905,
      "trading_costs_quote_units": 70.00044100748023,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10556.107093615095,
      "turnover_quote_units": 23333.480335826767,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25509.272659928316,
      "return_pct": 155.09272659928314,
      "cagr_pct": 155.36569500905398,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 41.931341375238866,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15539.182929120738,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 30749.863393881584,
      "return_pct": 207.49863393881586,
      "cagr_pct": 207.89337470561992,
      "max_drawdown_pct": 26.01357387451191,
      "mean_exposure_while_solvent": 1.2492564463860234,
      "realized_annual_volatility_pct": 52.31659513905623,
      "trading_costs_quote_units": 138.4664921843119,
      "borrowing_costs_quote_units": 243.217932058359,
      "price_pnl_quote_units": 21131.547818124196,
      "turnover_quote_units": 46155.497394770646,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 36566.61708517593,
      "return_pct": 265.6661708517593,
      "cagr_pct": 266.2080345957905,
      "max_drawdown_pct": 30.63157952914537,
      "mean_exposure_while_solvent": 1.4989311655215278,
      "realized_annual_volatility_pct": 62.67224805381212,
      "trading_costs_quote_units": 315.0834534403433,
      "borrowing_costs_quote_units": 542.0252394784331,
      "price_pnl_quote_units": 27423.725778094726,
      "turnover_quote_units": 105027.81781344765,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27551.93690739667,
      "return_pct": 175.51936907396671,
      "cagr_pct": 175.83846132042274,
      "max_drawdown_pct": 26.37358441717266,
      "mean_exposure_while_solvent": 1.0554627132725392,
      "realized_annual_volatility_pct": 43.1252539237962,
      "trading_costs_quote_units": 476.4641093612239,
      "borrowing_costs_quote_units": 201.14787191447556,
      "price_pnl_quote_units": 18229.54888867233,
      "turnover_quote_units": 158821.36978707457,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 32472.30893133246,
      "return_pct": 224.7230893133246,
      "cagr_pct": 225.16018050202283,
      "max_drawdown_pct": 30.699829730965934,
      "mean_exposure_while_solvent": 1.3963911343432278,
      "realized_annual_volatility_pct": 57.00328087416404,
      "trading_costs_quote_units": 422.63094015597756,
      "borrowing_costs_quote_units": 813.3586139162998,
      "price_pnl_quote_units": 23708.298485404768,
      "turnover_quote_units": 140876.9800519927,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33716.33166128249,
      "return_pct": 237.16331661282496,
      "cagr_pct": 237.63164907698226,
      "max_drawdown_pct": 30.736951994782014,
      "mean_exposure_while_solvent": 1.4729144707865285,
      "realized_annual_volatility_pct": 61.0604320516243,
      "trading_costs_quote_units": 325.8476543836373,
      "borrowing_costs_quote_units": 968.2448797132802,
      "price_pnl_quote_units": 25010.424195379426,
      "turnover_quote_units": 108615.88479454574,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 30932.174706162266,
      "return_pct": 209.32174706162266,
      "cagr_pct": 209.7209191651186,
      "max_drawdown_pct": 30.04764624309554,
      "mean_exposure_while_solvent": 1.383209903338198,
      "realized_annual_volatility_pct": 56.08373512797555,
      "trading_costs_quote_units": 633.2380357304132,
      "borrowing_costs_quote_units": 753.0284400637578,
      "price_pnl_quote_units": 22318.441181956467,
      "turnover_quote_units": 211079.34524347106,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 33881.275018332424,
      "return_pct": 238.81275018332423,
      "cagr_pct": 239.28526477624058,
      "max_drawdown_pct": 30.69982973096583,
      "mean_exposure_while_solvent": 1.3961432249013521,
      "realized_annual_volatility_pct": 57.07894099054271,
      "trading_costs_quote_units": 319.9105338195146,
      "borrowing_costs_quote_units": 824.6020381794987,
      "price_pnl_quote_units": 25025.787590331376,
      "turnover_quote_units": 106636.84460650488,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 25032.85973299614,
      "return_pct": 150.3285973299614,
      "cagr_pct": 150.59107219272602,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9904088334295441,
      "realized_annual_volatility_pct": 41.433685137532514,
      "trading_costs_quote_units": 53.877999987765484,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15086.737732983871,
      "turnover_quote_units": 17959.333329255158,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20486.106652607617,
      "return_pct": 104.86106652607616,
      "cagr_pct": 105.02892710467324,
      "max_drawdown_pct": 16.245711068356382,
      "mean_exposure_while_solvent": 0.7497874125936316,
      "realized_annual_volatility_pct": 31.51046069955905,
      "trading_costs_quote_units": 70.00044100748023,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10556.107093615095,
      "turnover_quote_units": 23333.480335826767,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 25509.272659928316,
      "return_pct": 155.09272659928314,
      "cagr_pct": 155.36569500905398,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 41.931341375238866,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15539.182929120738,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 30369.42811344917,
      "return_pct": 203.6942811344917,
      "cagr_pct": 204.07981481860364,
      "max_drawdown_pct": 26.069613757933784,
      "mean_exposure_while_solvent": 1.249274230798038,
      "realized_annual_volatility_pct": 52.31776633309973,
      "trading_costs_quote_units": 137.8120682878575,
      "borrowing_costs_quote_units": 483.12199251494076,
      "price_pnl_quote_units": 20990.362174251997,
      "turnover_quote_units": 45937.35609595253,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 35667.64874847392,
      "return_pct": 256.6764874847392,
      "cagr_pct": 257.1948753186865,
      "max_drawdown_pct": 30.736951994782014,
      "mean_exposure_while_solvent": 1.4989738388267642,
      "realized_annual_volatility_pct": 62.67505120942186,
      "trading_costs_quote_units": 311.5328860630798,
      "borrowing_costs_quote_units": 1069.0846185320524,
      "price_pnl_quote_units": 27048.26625306916,
      "turnover_quote_units": 103844.29535435996,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 27212.953307529522,
      "return_pct": 172.12953307529523,
      "cagr_pct": 172.44084743143137,
      "max_drawdown_pct": 26.752374122764945,
      "mean_exposure_while_solvent": 1.0554819788874783,
      "realized_annual_volatility_pct": 43.125263650381065,
      "trading_costs_quote_units": 473.76938337742155,
      "borrowing_costs_quote_units": 399.74351044609426,
      "price_pnl_quote_units": 18086.466201353054,
      "turnover_quote_units": 157923.12779247385,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 31184.292843950825,
      "return_pct": 211.84292843950826,
      "cagr_pct": 212.2482488882158,
      "max_drawdown_pct": 31.271142192320124,
      "mean_exposure_while_solvent": 1.3964586935647527,
      "realized_annual_volatility_pct": 57.00727725785659,
      "trading_costs_quote_units": 415.65936626108186,
      "borrowing_costs_quote_units": 1590.634557429222,
      "price_pnl_quote_units": 23190.58676764129,
      "turnover_quote_units": 138553.12208702712,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 32161.647983429044,
      "return_pct": 221.61647983429043,
      "cagr_pct": 222.0458537082572,
      "max_drawdown_pct": 31.442831448243645,
      "mean_exposure_while_solvent": 1.4729948630051475,
      "realized_annual_volatility_pct": 61.06598718704419,
      "trading_costs_quote_units": 319.55394692842316,
      "borrowing_costs_quote_units": 1886.5075918779453,
      "price_pnl_quote_units": 24367.709522235422,
      "turnover_quote_units": 106517.9823094744,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29735.923117642567,
      "return_pct": 197.35923117642565,
      "cagr_pct": 197.72955453828578,
      "max_drawdown_pct": 30.615746117077602,
      "mean_exposure_while_solvent": 1.3832758602028021,
      "realized_annual_volatility_pct": 56.08806241484804,
      "trading_costs_quote_units": 622.9684145284343,
      "borrowing_costs_quote_units": 1473.8346293367579,
      "price_pnl_quote_units": 21832.7261615078,
      "turnover_quote_units": 207656.13817614468,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 32568.037674406107,
      "return_pct": 225.68037674406108,
      "cagr_pct": 226.11985286130897,
      "max_drawdown_pct": 31.271142192320056,
      "mean_exposure_while_solvent": 1.3962097111986977,
      "realized_annual_volatility_pct": 57.08288010960692,
      "trading_costs_quote_units": 314.7091857495689,
      "borrowing_costs_quote_units": 1613.1533724746312,
      "price_pnl_quote_units": 24495.900232630247,
      "turnover_quote_units": 104903.06191652303,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 25032.85973299614,
      "return_pct": 150.3285973299614,
      "cagr_pct": 150.59107219272602,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9904088334295441,
      "realized_annual_volatility_pct": 41.433685137532514,
      "trading_costs_quote_units": 53.877999987765484,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15086.737732983871,
      "turnover_quote_units": 17959.333329255158,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 20486.106652607617,
      "return_pct": 104.86106652607616,
      "cagr_pct": 105.02892710467324,
      "max_drawdown_pct": 16.245711068356382,
      "mean_exposure_while_solvent": 0.7497874125936316,
      "realized_annual_volatility_pct": 31.51046069955905,
      "trading_costs_quote_units": 70.00044100748023,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10556.107093615095,
      "turnover_quote_units": 23333.480335826767,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 25509.272659928316,
      "return_pct": 155.09272659928314,
      "cagr_pct": 155.36569500905398,
      "max_drawdown_pct": 21.185976603209788,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 41.931341375238866,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15539.182929120738,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 29622.421084131012,
      "return_pct": 196.22421084131014,
      "cagr_pct": 196.5918252701536,
      "max_drawdown_pct": 26.186327060172275,
      "mean_exposure_while_solvent": 1.2493098050942208,
      "realized_annual_volatility_pct": 52.32010904862919,
      "trading_costs_quote_units": 136.5396569724959,
      "borrowing_costs_quote_units": 953.157391786257,
      "price_pnl_quote_units": 20712.1181328898,
      "turnover_quote_units": 45513.218990831956,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 33934.91365959725,
      "return_pct": 239.3491365959725,
      "cagr_pct": 239.82301317660006,
      "max_drawdown_pct": 31.442831448243446,
      "mean_exposure_while_solvent": 1.499059203916775,
      "realized_annual_volatility_pct": 62.68065882266968,
      "trading_costs_quote_units": 304.6659654118484,
      "borrowing_costs_quote_units": 2079.847854886018,
      "price_pnl_quote_units": 26319.427479895036,
      "turnover_quote_units": 101555.32180394951,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 27853.92064662011,
      "return_pct": 178.5392064662011,
      "cagr_pct": 178.8652678793362,
      "max_drawdown_pct": 26.059595975362683,
      "mean_exposure_while_solvent": 1.0543894064881352,
      "realized_annual_volatility_pct": 43.13901796411605,
      "trading_costs_quote_units": 480.6110364874583,
      "borrowing_costs_quote_units": 101.1269743408135,
      "price_pnl_quote_units": 18435.658657448403,
      "turnover_quote_units": 160203.6788291529,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 33088.81217654537,
      "return_pct": 230.8881217654537,
      "cagr_pct": 231.34062833720003,
      "max_drawdown_pct": 30.375201388834448,
      "mean_exposure_while_solvent": 1.394697458617304,
      "realized_annual_volatility_pct": 57.04154397779154,
      "trading_costs_quote_units": 414.69400812012543,
      "borrowing_costs_quote_units": 409.5691829315061,
      "price_pnl_quote_units": 23913.07536759702,
      "turnover_quote_units": 138231.33604004193,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 34551.49872138126,
      "return_pct": 245.51498721381256,
      "cagr_pct": 246.0045894030248,
      "max_drawdown_pct": 30.62719196469701,
      "mean_exposure_while_solvent": 1.4711722525846926,
      "realized_annual_volatility_pct": 61.0754773265348,
      "trading_costs_quote_units": 317.6090168964252,
      "borrowing_costs_quote_units": 490.03757300488104,
      "price_pnl_quote_units": 25359.145311282555,
      "turnover_quote_units": 105869.6722988085,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 31684.12219589951,
      "return_pct": 216.84122195899508,
      "cagr_pct": 217.25880043904544,
      "max_drawdown_pct": 29.7343373278264,
      "mean_exposure_while_solvent": 1.3814067115518651,
      "realized_annual_volatility_pct": 56.109273470200414,
      "trading_costs_quote_units": 629.9792306515307,
      "borrowing_costs_quote_units": 379.5596188627721,
      "price_pnl_quote_units": 22693.66104541381,
      "turnover_quote_units": 209993.07688384323,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 34561.158044319556,
      "return_pct": 245.61158044319558,
      "cagr_pct": 246.101429995493,
      "max_drawdown_pct": 30.37520138883435,
      "mean_exposure_while_solvent": 1.3944645032420335,
      "realized_annual_volatility_pct": 57.07437412962669,
      "trading_costs_quote_units": 312.31103555871175,
      "borrowing_costs_quote_units": 416.0781304134078,
      "price_pnl_quote_units": 25289.54721029172,
      "turnover_quote_units": 104103.67851957057,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25008.887297109894,
      "return_pct": 150.0888729710989,
      "cagr_pct": 150.35082253916613,
      "max_drawdown_pct": 21.185976603209777,
      "mean_exposure_while_solvent": 0.9894726807724965,
      "realized_annual_volatility_pct": 41.43941103269813,
      "trading_costs_quote_units": 53.60575359935065,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15062.493050709269,
      "turnover_quote_units": 17868.58453311688,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 20456.47540411444,
      "return_pct": 104.56475404114443,
      "cagr_pct": 104.7320333822841,
      "max_drawdown_pct": 16.24693908031938,
      "mean_exposure_while_solvent": 0.7491632755529588,
      "realized_annual_volatility_pct": 31.509497283690614,
      "trading_costs_quote_units": 67.60677449909413,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10524.082178613517,
      "turnover_quote_units": 22535.591499698006,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25459.143710887285,
      "return_pct": 154.59143710887284,
      "cagr_pct": 154.86329654298981,
      "max_drawdown_pct": 21.185976603209777,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 41.93113505415732,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15489.053980079718,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 30688.803186207377,
      "return_pct": 206.88803186207377,
      "cagr_pct": 207.28129123606553,
      "max_drawdown_pct": 26.011194892166966,
      "mean_exposure_while_solvent": 1.248028235238744,
      "realized_annual_volatility_pct": 52.317976647662924,
      "trading_costs_quote_units": 132.92030404439166,
      "borrowing_costs_quote_units": 242.53200387497094,
      "price_pnl_quote_units": 21064.25549412674,
      "turnover_quote_units": 44306.76801479716,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 36501.53940258249,
      "return_pct": 265.01539402582495,
      "cagr_pct": 265.55554974068747,
      "max_drawdown_pct": 30.62719196469701,
      "mean_exposure_while_solvent": 1.497370525796318,
      "realized_annual_volatility_pct": 62.67573168412225,
      "trading_costs_quote_units": 299.7483919158929,
      "borrowing_costs_quote_units": 540.5196539174892,
      "price_pnl_quote_units": 27341.807448415846,
      "turnover_quote_units": 99916.13063863112,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27682.106079412304,
      "return_pct": 176.82106079412304,
      "cagr_pct": 177.14315245679262,
      "max_drawdown_pct": 26.24978551094632,
      "mean_exposure_while_solvent": 1.0543990179505216,
      "realized_annual_volatility_pct": 43.13872745858864,
      "trading_costs_quote_units": 479.2402152272824,
      "borrowing_costs_quote_units": 201.60962546458654,
      "price_pnl_quote_units": 18362.955920104163,
      "turnover_quote_units": 159746.7384090942,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 32426.883873245883,
      "return_pct": 224.26883873245882,
      "cagr_pct": 224.70479935826003,
      "max_drawdown_pct": 30.662426781412687,
      "mean_exposure_while_solvent": 1.3947311334888979,
      "realized_annual_volatility_pct": 57.04293764338168,
      "trading_costs_quote_units": 411.23395017299026,
      "borrowing_costs_quote_units": 809.9706236287411,
      "price_pnl_quote_units": 23648.088447047474,
      "turnover_quote_units": 137077.9833909966,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 33746.60443534109,
      "return_pct": 237.4660443534109,
      "cagr_pct": 237.93514369101416,
      "max_drawdown_pct": 30.732613515751517,
      "mean_exposure_while_solvent": 1.4712123291558223,
      "realized_annual_volatility_pct": 61.077507854573824,
      "trading_costs_quote_units": 314.52887476011165,
      "borrowing_costs_quote_units": 967.2872942295769,
      "price_pnl_quote_units": 25028.42060433078,
      "turnover_quote_units": 104842.95825337048,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 31066.444765725042,
      "return_pct": 210.66444765725043,
      "cagr_pct": 211.06689125668288,
      "max_drawdown_pct": 30.01987863254779,
      "mean_exposure_while_solvent": 1.3814395693565924,
      "realized_annual_volatility_pct": 56.11080898330629,
      "trading_costs_quote_units": 624.8323438015907,
      "borrowing_costs_quote_units": 750.9232655078828,
      "price_pnl_quote_units": 22442.20037503452,
      "turnover_quote_units": 208277.4479338636,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 33885.888571642005,
      "return_pct": 238.85888571642005,
      "cagr_pct": 239.33151741808524,
      "max_drawdown_pct": 30.662426781412698,
      "mean_exposure_while_solvent": 1.3944976381984826,
      "realized_annual_volatility_pct": 57.07574825969136,
      "trading_costs_quote_units": 309.6563537573559,
      "borrowing_costs_quote_units": 822.9824299391829,
      "price_pnl_quote_units": 25018.527355338487,
      "turnover_quote_units": 103218.78458578544,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 25008.887297109894,
      "return_pct": 150.0888729710989,
      "cagr_pct": 150.35082253916613,
      "max_drawdown_pct": 21.185976603209777,
      "mean_exposure_while_solvent": 0.9894726807724965,
      "realized_annual_volatility_pct": 41.43941103269813,
      "trading_costs_quote_units": 53.60575359935065,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15062.493050709269,
      "turnover_quote_units": 17868.58453311688,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20456.47540411444,
      "return_pct": 104.56475404114443,
      "cagr_pct": 104.7320333822841,
      "max_drawdown_pct": 16.24693908031938,
      "mean_exposure_while_solvent": 0.7491632755529588,
      "realized_annual_volatility_pct": 31.509497283690614,
      "trading_costs_quote_units": 67.60677449909413,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10524.082178613517,
      "turnover_quote_units": 22535.591499698006,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 25459.143710887285,
      "return_pct": 154.59143710887284,
      "cagr_pct": 154.86329654298981,
      "max_drawdown_pct": 21.185976603209777,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 41.93113505415732,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15489.053980079718,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 30309.500168421102,
      "return_pct": 203.095001684211,
      "cagr_pct": 203.4790899823235,
      "max_drawdown_pct": 26.06725507065013,
      "mean_exposure_while_solvent": 1.2480459830115296,
      "realized_annual_volatility_pct": 52.318823377775956,
      "trading_costs_quote_units": 132.28815909192457,
      "borrowing_costs_quote_units": 481.76303321545504,
      "price_pnl_quote_units": 20923.551360728474,
      "turnover_quote_units": 44096.05303064155,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 35605.074380502556,
      "return_pct": 256.05074380502555,
      "cagr_pct": 256.56750713786414,
      "max_drawdown_pct": 30.732613515751517,
      "mean_exposure_while_solvent": 1.497413108840651,
      "realized_annual_volatility_pct": 62.67775864394767,
      "trading_costs_quote_units": 296.38815643721927,
      "borrowing_costs_quote_units": 1066.132750568759,
      "price_pnl_quote_units": 26967.595287508604,
      "turnover_quote_units": 98796.05214573978,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 27341.565991091487,
      "return_pct": 173.41565991091485,
      "cagr_pct": 173.7299195933786,
      "max_drawdown_pct": 26.628794419320066,
      "mean_exposure_while_solvent": 1.0544182444379497,
      "realized_annual_volatility_pct": 43.13816964237689,
      "trading_costs_quote_units": 476.51689469702234,
      "borrowing_costs_quote_units": 400.6572754772602,
      "price_pnl_quote_units": 18218.74016126573,
      "turnover_quote_units": 158838.96489900752,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 31142.126739255575,
      "return_pct": 211.42126739255573,
      "cagr_pct": 211.82555791627587,
      "max_drawdown_pct": 31.23351034877122,
      "mean_exposure_while_solvent": 1.3947984971960292,
      "realized_annual_volatility_pct": 57.04573864749772,
      "trading_costs_quote_units": 404.4686994713325,
      "borrowing_costs_quote_units": 1584.04053702132,
      "price_pnl_quote_units": 23130.6359757482,
      "turnover_quote_units": 134822.8998237774,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 32192.153905382173,
      "return_pct": 221.9215390538217,
      "cagr_pct": 222.35166922782858,
      "max_drawdown_pct": 31.463564763356533,
      "mean_exposure_while_solvent": 1.4712924994877337,
      "realized_annual_volatility_pct": 61.08157457907003,
      "trading_costs_quote_units": 308.54492089639734,
      "borrowing_costs_quote_units": 1884.6730115420967,
      "price_pnl_quote_units": 24385.371837820614,
      "turnover_quote_units": 102848.30696546574,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29866.63977651963,
      "return_pct": 198.6663977651963,
      "cagr_pct": 199.0398470624331,
      "max_drawdown_pct": 30.587666181962014,
      "mean_exposure_while_solvent": 1.3815052986558438,
      "realized_annual_volatility_pct": 56.11389688468024,
      "trading_costs_quote_units": 614.7614950769639,
      "borrowing_costs_quote_units": 1469.7308486234217,
      "price_pnl_quote_units": 21951.13212022002,
      "turnover_quote_units": 204920.49835898797,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 32574.302527544784,
      "return_pct": 225.74302527544785,
      "cagr_pct": 226.1826575839112,
      "max_drawdown_pct": 31.233510348771254,
      "mean_exposure_while_solvent": 1.3945639220359856,
      "realized_annual_volatility_pct": 57.07851463219734,
      "trading_costs_quote_units": 304.4700559103191,
      "borrowing_costs_quote_units": 1610.024640851728,
      "price_pnl_quote_units": 24488.79722430688,
      "turnover_quote_units": 101490.01863677298,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 25008.887297109894,
      "return_pct": 150.0888729710989,
      "cagr_pct": 150.35082253916613,
      "max_drawdown_pct": 21.185976603209777,
      "mean_exposure_while_solvent": 0.9894726807724965,
      "realized_annual_volatility_pct": 41.43941103269813,
      "trading_costs_quote_units": 53.60575359935065,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15062.493050709269,
      "turnover_quote_units": 17868.58453311688,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 32,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20456.47540411444,
      "return_pct": 104.56475404114443,
      "cagr_pct": 104.7320333822841,
      "max_drawdown_pct": 16.24693908031938,
      "mean_exposure_while_solvent": 0.7491632755529588,
      "realized_annual_volatility_pct": 31.509497283690614,
      "trading_costs_quote_units": 67.60677449909413,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 10524.082178613517,
      "turnover_quote_units": 22535.591499698006,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 25459.143710887285,
      "return_pct": 154.59143710887284,
      "cagr_pct": 154.86329654298981,
      "max_drawdown_pct": 21.185976603209777,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 41.93113505415732,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 15489.053980079718,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 29564.707626794894,
      "return_pct": 195.64707626794893,
      "cagr_pct": 196.0133151680962,
      "max_drawdown_pct": 26.17930847929435,
      "mean_exposure_while_solvent": 1.248081484015851,
      "realized_annual_volatility_pct": 52.320517355016435,
      "trading_costs_quote_units": 131.05580738666367,
      "borrowing_costs_quote_units": 950.4902706471655,
      "price_pnl_quote_units": 20646.253704828712,
      "turnover_quote_units": 43685.26912888784,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2023",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 33877.11285093006,
      "return_pct": 238.7711285093006,
      "cagr_pct": 239.24353745745464,
      "max_drawdown_pct": 31.463564763356644,
      "mean_exposure_while_solvent": 1.4974982933639758,
      "realized_annual_volatility_pct": 62.68181419742186,
      "trading_costs_quote_units": 289.8801555295468,
      "borrowing_costs_quote_units": 2074.1736994422095,
      "price_pnl_quote_units": 26241.16670590182,
      "turnover_quote_units": 96626.71850984896,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21292.37054032928,
      "return_pct": 112.92370540329281,
      "cagr_pct": 112.6672676742063,
      "max_drawdown_pct": 25.70771652986975,
      "mean_exposure_while_solvent": 0.8195705443644646,
      "realized_annual_volatility_pct": 42.63605907858838,
      "trading_costs_quote_units": 64.69813597230983,
      "borrowing_costs_quote_units": 9.31043585059188,
      "price_pnl_quote_units": 11366.379112152177,
      "turnover_quote_units": 107830.2266205164,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 27826.703391941173,
      "return_pct": 178.26703391941172,
      "cagr_pct": 177.81331064086316,
      "max_drawdown_pct": 36.6868345666533,
      "mean_exposure_while_solvent": 1.2107829444319875,
      "realized_annual_volatility_pct": 62.961652365172746,
      "trading_costs_quote_units": 99.04927535971852,
      "borrowing_costs_quote_units": 189.56615871284131,
      "price_pnl_quote_units": 18115.318826013692,
      "turnover_quote_units": 165082.12559953096,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 28700.342939787006,
      "return_pct": 187.00342939787004,
      "cagr_pct": 186.52133766624917,
      "max_drawdown_pct": 43.821571644060086,
      "mean_exposure_while_solvent": 1.4293907258930136,
      "realized_annual_volatility_pct": 74.70165025970326,
      "trading_costs_quote_units": 85.00140151087993,
      "borrowing_costs_quote_units": 390.9752173838131,
      "price_pnl_quote_units": 19176.319558681746,
      "turnover_quote_units": 141669.00251813323,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 24809.267889052688,
      "return_pct": 148.09267889052688,
      "cagr_pct": 147.7334915555101,
      "max_drawdown_pct": 40.853863028837836,
      "mean_exposure_while_solvent": 1.2161160918036817,
      "realized_annual_volatility_pct": 62.66577550594881,
      "trading_costs_quote_units": 139.54286760270784,
      "borrowing_costs_quote_units": 199.28611349344098,
      "price_pnl_quote_units": 15148.0968701489,
      "turnover_quote_units": 232571.44600451304,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 27258.77610473216,
      "return_pct": 172.58776104732158,
      "cagr_pct": 172.15224627872954,
      "max_drawdown_pct": 38.82929981512745,
      "mean_exposure_while_solvent": 1.2090350657690156,
      "realized_annual_volatility_pct": 63.968589263933104,
      "trading_costs_quote_units": 62.48302870819565,
      "borrowing_costs_quote_units": 180.28943929248442,
      "price_pnl_quote_units": 17501.548572732794,
      "turnover_quote_units": 104138.38118032613,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21994.916268163026,
      "return_pct": 119.94916268163026,
      "cagr_pct": 119.67289261280007,
      "max_drawdown_pct": 30.463593024487523,
      "mean_exposure_while_solvent": 0.9844854547348109,
      "realized_annual_volatility_pct": 51.51086561828949,
      "trading_costs_quote_units": 15.241928731532763,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 12010.158196894536,
      "turnover_quote_units": 25403.214552554615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 69,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 18492.61780543053,
      "return_pct": 84.92617805430531,
      "cagr_pct": 84.74498422635999,
      "max_drawdown_pct": 22.76277956308277,
      "mean_exposure_while_solvent": 0.7498254324991316,
      "realized_annual_volatility_pct": 39.24945112784691,
      "trading_costs_quote_units": 16.010864574663948,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8508.628670005237,
      "turnover_quote_units": 26684.77429110657,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21954.340477382197,
      "return_pct": 119.54340477382198,
      "cagr_pct": 119.26828994887626,
      "max_drawdown_pct": 30.160442748151816,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 52.36195597254463,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11960.336879540891,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25246.848049822078,
      "return_pct": 152.46848049822077,
      "cagr_pct": 152.0959296538054,
      "max_drawdown_pct": 37.69941314358588,
      "mean_exposure_while_solvent": 1.2492155378593697,
      "realized_annual_volatility_pct": 65.50317177539822,
      "trading_costs_quote_units": 30.472928484032153,
      "borrowing_costs_quote_units": 210.65132249375637,
      "price_pnl_quote_units": 15487.972300799887,
      "turnover_quote_units": 50788.21414005355,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 28522.904127894028,
      "return_pct": 185.22904127894026,
      "cagr_pct": 184.75274589408656,
      "max_drawdown_pct": 44.867708584303436,
      "mean_exposure_while_solvent": 1.4988545437471945,
      "realized_annual_volatility_pct": 78.67965007933083,
      "trading_costs_quote_units": 68.39462162442379,
      "borrowing_costs_quote_units": 454.01886401188966,
      "price_pnl_quote_units": 19045.317613530297,
      "turnover_quote_units": 113991.03604070633,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 21279.550285748606,
      "return_pct": 112.79550285748607,
      "cagr_pct": 112.53942364659211,
      "max_drawdown_pct": 25.715501872583747,
      "mean_exposure_while_solvent": 0.8195713345855516,
      "realized_annual_volatility_pct": 42.636055168257464,
      "trading_costs_quote_units": 64.685181482452,
      "borrowing_costs_quote_units": 18.61633498852353,
      "price_pnl_quote_units": 11362.851802219595,
      "turnover_quote_units": 107808.63580408682,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27513.793245212026,
      "return_pct": 175.13793245212022,
      "cagr_pct": 174.6942645252548,
      "max_drawdown_pct": 36.937322387203665,
      "mean_exposure_while_solvent": 1.2108006738781547,
      "realized_annual_volatility_pct": 62.962468134477,
      "trading_costs_quote_units": 98.46557373477461,
      "borrowing_costs_quote_units": 376.75973741016315,
      "price_pnl_quote_units": 17989.01855635695,
      "turnover_quote_units": 164109.2895579577,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 28089.928200672377,
      "return_pct": 180.89928200672375,
      "cagr_pct": 180.4370566754082,
      "max_drawdown_pct": 44.283126172892636,
      "mean_exposure_while_solvent": 1.4294264526281613,
      "realized_annual_volatility_pct": 74.70423839162181,
      "trading_costs_quote_units": 84.09044288849518,
      "borrowing_costs_quote_units": 772.5331110439579,
      "price_pnl_quote_units": 18946.55175460483,
      "turnover_quote_units": 140150.73814749188,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 24509.046315829022,
      "return_pct": 145.09046315829025,
      "cagr_pct": 144.740373623186,
      "max_drawdown_pct": 41.114655163935886,
      "mean_exposure_while_solvent": 1.216135381011467,
      "realized_annual_volatility_pct": 62.667081421771556,
      "trading_costs_quote_units": 138.66966564429964,
      "borrowing_costs_quote_units": 395.98409288310893,
      "price_pnl_quote_units": 15043.70007435642,
      "turnover_quote_units": 231116.10940716596,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 26970.719051970213,
      "return_pct": 169.70719051970212,
      "cagr_pct": 169.28083960121424,
      "max_drawdown_pct": 39.038126157848396,
      "mean_exposure_while_solvent": 1.2090512554400301,
      "realized_annual_volatility_pct": 63.96951535352422,
      "trading_costs_quote_units": 62.14362650450553,
      "borrowing_costs_quote_units": 358.3938807333527,
      "price_pnl_quote_units": 17391.256559208035,
      "turnover_quote_units": 103572.71084084256,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 21994.916268163026,
      "return_pct": 119.94916268163026,
      "cagr_pct": 119.67289261280007,
      "max_drawdown_pct": 30.463593024487523,
      "mean_exposure_while_solvent": 0.9844854547348109,
      "realized_annual_volatility_pct": 51.51086561828949,
      "trading_costs_quote_units": 15.241928731532763,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 12010.158196894536,
      "turnover_quote_units": 25403.214552554615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 69,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 18492.61780543053,
      "return_pct": 84.92617805430531,
      "cagr_pct": 84.74498422635999,
      "max_drawdown_pct": 22.76277956308277,
      "mean_exposure_while_solvent": 0.7498254324991316,
      "realized_annual_volatility_pct": 39.24945112784691,
      "trading_costs_quote_units": 16.010864574663948,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8508.628670005237,
      "turnover_quote_units": 26684.77429110657,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 21954.340477382197,
      "return_pct": 119.54340477382198,
      "cagr_pct": 119.26828994887626,
      "max_drawdown_pct": 30.160442748151816,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 52.36195597254463,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11960.336879540891,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 24933.41363246885,
      "return_pct": 149.3341363246885,
      "cagr_pct": 148.97117000537992,
      "max_drawdown_pct": 38.00826328869117,
      "mean_exposure_while_solvent": 1.2492333237104376,
      "realized_annual_volatility_pct": 65.50454888563787,
      "trading_costs_quote_units": 30.314442810707295,
      "borrowing_costs_quote_units": 418.42946021865316,
      "price_pnl_quote_units": 15382.157535498223,
      "turnover_quote_units": 50524.071351178834,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27819.123354877556,
      "return_pct": 178.19123354877556,
      "cagr_pct": 177.73775451785815,
      "max_drawdown_pct": 45.413574369827415,
      "mean_exposure_while_solvent": 1.4988972282150756,
      "realized_annual_volatility_pct": 78.68296881317171,
      "trading_costs_quote_units": 67.58798683901378,
      "borrowing_costs_quote_units": 895.52310742076,
      "price_pnl_quote_units": 18782.234449137308,
      "turnover_quote_units": 112646.6447316896,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 21253.927781608916,
      "return_pct": 112.53927781608914,
      "cagr_pct": 112.28391476998488,
      "max_drawdown_pct": 25.73107295753384,
      "mean_exposure_while_solvent": 0.8195729152316349,
      "realized_annual_volatility_pct": 42.636048591661186,
      "trading_costs_quote_units": 64.65928584729633,
      "borrowing_costs_quote_units": 37.21452862126357,
      "price_pnl_quote_units": 11355.801596077485,
      "turnover_quote_units": 107765.4764121605,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26898.334529207277,
      "return_pct": 168.98334529207278,
      "cagr_pct": 168.55928944747927,
      "max_drawdown_pct": 37.435451726178215,
      "mean_exposure_while_solvent": 1.2108361394436544,
      "realized_annual_volatility_pct": 62.96411872555322,
      "trading_costs_quote_units": 97.3136567664663,
      "borrowing_costs_quote_units": 744.1390695134244,
      "price_pnl_quote_units": 17739.78725548716,
      "turnover_quote_units": 162189.4279441105,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26907.458786771145,
      "return_pct": 169.07458786771144,
      "cagr_pct": 168.65024289344638,
      "max_drawdown_pct": 45.19512846457785,
      "mean_exposure_while_solvent": 1.429497920918274,
      "realized_annual_volatility_pct": 74.70942172105714,
      "trading_costs_quote_units": 82.31252499575224,
      "borrowing_costs_quote_units": 1508.2412479882614,
      "price_pnl_quote_units": 18498.01255975516,
      "turnover_quote_units": 137187.54165958715,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 23919.30746185848,
      "return_pct": 139.1930746185848,
      "cagr_pct": 138.86068540733717,
      "max_drawdown_pct": 41.63292376012405,
      "mean_exposure_while_solvent": 1.2161739668429692,
      "realized_annual_volatility_pct": 62.66971357591677,
      "trading_costs_quote_units": 136.9483194901776,
      "borrowing_costs_quote_units": 781.7419870945154,
      "price_pnl_quote_units": 14837.99776844314,
      "turnover_quote_units": 228247.1991502958,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26403.56957248618,
      "return_pct": 164.0356957248618,
      "cagr_pct": 163.62724389443756,
      "max_drawdown_pct": 39.45374065345584,
      "mean_exposure_while_solvent": 1.2090836405483503,
      "realized_annual_volatility_pct": 63.97138228414624,
      "trading_costs_quote_units": 61.4730002143868,
      "borrowing_costs_quote_units": 708.144662742168,
      "price_pnl_quote_units": 17173.187235442736,
      "turnover_quote_units": 102455.00035731142,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 21994.916268163026,
      "return_pct": 119.94916268163026,
      "cagr_pct": 119.67289261280007,
      "max_drawdown_pct": 30.463593024487523,
      "mean_exposure_while_solvent": 0.9844854547348109,
      "realized_annual_volatility_pct": 51.51086561828949,
      "trading_costs_quote_units": 15.241928731532763,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 12010.158196894536,
      "turnover_quote_units": 25403.214552554615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 69,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 18492.61780543053,
      "return_pct": 84.92617805430531,
      "cagr_pct": 84.74498422635999,
      "max_drawdown_pct": 22.76277956308277,
      "mean_exposure_while_solvent": 0.7498254324991316,
      "realized_annual_volatility_pct": 39.24945112784691,
      "trading_costs_quote_units": 16.010864574663948,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8508.628670005237,
      "turnover_quote_units": 26684.77429110657,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 21954.340477382197,
      "return_pct": 119.54340477382198,
      "cagr_pct": 119.26828994887626,
      "max_drawdown_pct": 30.160442748151816,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 52.36195597254463,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11960.336879540891,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 24318.030171805523,
      "return_pct": 143.18030171805526,
      "cagr_pct": 142.83597027630682,
      "max_drawdown_pct": 38.62151544814305,
      "mean_exposure_while_solvent": 1.2492689008878357,
      "realized_annual_volatility_pct": 65.50730378319844,
      "trading_costs_quote_units": 30.004745935039594,
      "borrowing_costs_quote_units": 825.5137191870932,
      "price_pnl_quote_units": 15173.548636927677,
      "turnover_quote_units": 50007.90989173265,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26462.854379583732,
      "return_pct": 164.62854379583734,
      "cagr_pct": 164.21822994440478,
      "max_drawdown_pct": 46.4894414477237,
      "mean_exposure_while_solvent": 1.4989826156513546,
      "realized_annual_volatility_pct": 78.68960849777933,
      "trading_costs_quote_units": 66.02403946028818,
      "borrowing_costs_quote_units": 1742.2834098314984,
      "price_pnl_quote_units": 18271.161828875494,
      "turnover_quote_units": 110040.06576714701,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21365.621271413427,
      "return_pct": 113.65621271413428,
      "cagr_pct": 113.39772417773793,
      "max_drawdown_pct": 25.73040070454332,
      "mean_exposure_while_solvent": 0.8187888809059098,
      "realized_annual_volatility_pct": 42.79649154626865,
      "trading_costs_quote_units": 64.99212553418309,
      "borrowing_costs_quote_units": 9.333555395758623,
      "price_pnl_quote_units": 11439.946952343367,
      "turnover_quote_units": 108320.2092236385,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 27919.21386134273,
      "return_pct": 179.1921386134273,
      "cagr_pct": 178.73543177597023,
      "max_drawdown_pct": 36.977252904152046,
      "mean_exposure_while_solvent": 1.209709003406364,
      "realized_annual_volatility_pct": 63.214315210437654,
      "trading_costs_quote_units": 100.25538400779202,
      "borrowing_costs_quote_units": 189.8713545011803,
      "price_pnl_quote_units": 18209.34059985171,
      "turnover_quote_units": 167092.30667965356,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 28468.247823758924,
      "return_pct": 184.68247823758924,
      "cagr_pct": 184.20796476658802,
      "max_drawdown_pct": 44.11295244877322,
      "mean_exposure_while_solvent": 1.4282013252521089,
      "realized_annual_volatility_pct": 74.78621248457794,
      "trading_costs_quote_units": 83.04480160337829,
      "borrowing_costs_quote_units": 388.6701257362452,
      "price_pnl_quote_units": 18939.962751098592,
      "turnover_quote_units": 138408.0026722972,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25279.498404652633,
      "return_pct": 152.7949840465263,
      "cagr_pct": 152.42143121475618,
      "max_drawdown_pct": 41.010921576458784,
      "mean_exposure_while_solvent": 1.2151180664246362,
      "realized_annual_volatility_pct": 62.91669288931657,
      "trading_costs_quote_units": 142.15487799909263,
      "borrowing_costs_quote_units": 201.5349275165371,
      "price_pnl_quote_units": 15623.188210168237,
      "turnover_quote_units": 236924.79666515446,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 27245.15129234607,
      "return_pct": 172.45151292346068,
      "cagr_pct": 172.01643269004566,
      "max_drawdown_pct": 38.892735327539526,
      "mean_exposure_while_solvent": 1.208098753366042,
      "realized_annual_volatility_pct": 64.13024713299187,
      "trading_costs_quote_units": 61.65394645263215,
      "borrowing_costs_quote_units": 180.32360263669437,
      "price_pnl_quote_units": 17487.128841435453,
      "turnover_quote_units": 102756.57742105365,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21884.454124432952,
      "return_pct": 118.84454124432952,
      "cagr_pct": 118.571413375204,
      "max_drawdown_pct": 30.372565518275763,
      "mean_exposure_while_solvent": 0.9835517201376855,
      "realized_annual_volatility_pct": 51.50317129099952,
      "trading_costs_quote_units": 15.245358401980813,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11899.69948283494,
      "turnover_quote_units": 25408.930669968027,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 69,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 18398.39009030562,
      "return_pct": 83.98390090305621,
      "cagr_pct": 83.805127529652,
      "max_drawdown_pct": 22.71223002992896,
      "mean_exposure_while_solvent": 0.7490793422111663,
      "realized_annual_volatility_pct": 39.24007775782059,
      "trading_costs_quote_units": 15.492382884954141,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8413.882473190557,
      "turnover_quote_units": 25820.638141590196,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21800.014406358237,
      "return_pct": 118.00014406358237,
      "cagr_pct": 117.72941218556974,
      "max_drawdown_pct": 30.160442748151837,
      "mean_exposure_while_solvent": 0.9986338797814208,
      "realized_annual_volatility_pct": 52.35986574651184,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11806.010808516961,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25013.94938307994,
      "return_pct": 150.13949383079938,
      "cagr_pct": 149.77407075314431,
      "max_drawdown_pct": 37.77709302890221,
      "mean_exposure_while_solvent": 1.2481967611536906,
      "realized_annual_volatility_pct": 65.51391695002498,
      "trading_costs_quote_units": 29.454476078326152,
      "borrowing_costs_quote_units": 208.96852038481188,
      "price_pnl_quote_units": 15252.37237954307,
      "turnover_quote_units": 49090.79346387695,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 28182.075526780885,
      "return_pct": 181.82075526780886,
      "cagr_pct": 181.3555443326591,
      "max_drawdown_pct": 45.04809151179614,
      "mean_exposure_while_solvent": 1.4977934539027002,
      "realized_annual_volatility_pct": 78.70927823267489,
      "trading_costs_quote_units": 65.81951486983719,
      "borrowing_costs_quote_units": 450.24573789245994,
      "price_pnl_quote_units": 18698.1407795431,
      "turnover_quote_units": 109699.19144972856,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21352.759756796317,
      "return_pct": 113.52759756796318,
      "cagr_pct": 113.26946940595373,
      "max_drawdown_pct": 25.738186963522715,
      "mean_exposure_while_solvent": 0.8187896683602477,
      "realized_annual_volatility_pct": 42.796457753062825,
      "trading_costs_quote_units": 64.9790011840841,
      "borrowing_costs_quote_units": 18.662556113500507,
      "price_pnl_quote_units": 11436.401314093924,
      "turnover_quote_units": 108298.33530680672,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27605.38832928647,
      "return_pct": 176.0538832928647,
      "cagr_pct": 175.60727778926184,
      "max_drawdown_pct": 37.22613805947719,
      "mean_exposure_while_solvent": 1.209726721363689,
      "realized_annual_volatility_pct": 63.214814973735855,
      "trading_costs_quote_units": 99.67241869519304,
      "borrowing_costs_quote_units": 377.36287293701497,
      "price_pnl_quote_units": 18082.423620918675,
      "turnover_quote_units": 166120.69782532187,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27863.33470142541,
      "return_pct": 178.63334701425407,
      "cagr_pct": 178.1784429215283,
      "max_drawdown_pct": 44.57199034873221,
      "mean_exposure_while_solvent": 1.4282370087080234,
      "realized_annual_volatility_pct": 74.78822874412356,
      "trading_costs_quote_units": 82.14234247560599,
      "borrowing_costs_quote_units": 767.9973501271127,
      "price_pnl_quote_units": 18713.474394028086,
      "turnover_quote_units": 136903.90412600993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 24973.680562676876,
      "return_pct": 149.73680562676876,
      "cagr_pct": 149.37261147319103,
      "max_drawdown_pct": 41.270926008344055,
      "mean_exposure_while_solvent": 1.215137348176516,
      "realized_annual_volatility_pct": 62.91757715172272,
      "trading_costs_quote_units": 141.2688348738264,
      "borrowing_costs_quote_units": 400.4498716657513,
      "price_pnl_quote_units": 15515.399269216496,
      "turnover_quote_units": 235448.05812304385,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 26957.341458621133,
      "return_pct": 169.57341458621133,
      "cagr_pct": 169.1474880598272,
      "max_drawdown_pct": 39.10112441826612,
      "mean_exposure_while_solvent": 1.2081149429399403,
      "realized_annual_volatility_pct": 64.13083197673186,
      "trading_costs_quote_units": 61.32895954029091,
      "borrowing_costs_quote_units": 358.4606566103951,
      "price_pnl_quote_units": 17377.131074771783,
      "turnover_quote_units": 102214.93256715158,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21884.454124432952,
      "return_pct": 118.84454124432952,
      "cagr_pct": 118.571413375204,
      "max_drawdown_pct": 30.372565518275763,
      "mean_exposure_while_solvent": 0.9835517201376855,
      "realized_annual_volatility_pct": 51.50317129099952,
      "trading_costs_quote_units": 15.245358401980813,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11899.69948283494,
      "turnover_quote_units": 25408.930669968027,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 69,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 18398.39009030562,
      "return_pct": 83.98390090305621,
      "cagr_pct": 83.805127529652,
      "max_drawdown_pct": 22.71223002992896,
      "mean_exposure_while_solvent": 0.7490793422111663,
      "realized_annual_volatility_pct": 39.24007775782059,
      "trading_costs_quote_units": 15.492382884954141,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8413.882473190557,
      "turnover_quote_units": 25820.638141590196,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21800.014406358237,
      "return_pct": 118.00014406358237,
      "cagr_pct": 117.72941218556974,
      "max_drawdown_pct": 30.160442748151837,
      "mean_exposure_while_solvent": 0.9986338797814208,
      "realized_annual_volatility_pct": 52.35986574651184,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11806.010808516961,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 24703.697580794462,
      "return_pct": 147.0369758079446,
      "cagr_pct": 146.68099425507165,
      "max_drawdown_pct": 38.085654510534816,
      "mean_exposure_while_solvent": 1.248214529999747,
      "realized_annual_volatility_pct": 65.5150036833508,
      "trading_costs_quote_units": 29.289870286475804,
      "borrowing_costs_quote_units": 415.09215014996676,
      "price_pnl_quote_units": 15148.079601230893,
      "turnover_quote_units": 48816.45047745967,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27487.349338236687,
      "return_pct": 174.8734933823669,
      "cagr_pct": 174.43067264605202,
      "max_drawdown_pct": 45.59239637898461,
      "mean_exposure_while_solvent": 1.4978361104753584,
      "realized_annual_volatility_pct": 78.71190560140867,
      "trading_costs_quote_units": 65.00425121309624,
      "borrowing_costs_quote_units": 888.1093068371946,
      "price_pnl_quote_units": 18440.462896286983,
      "turnover_quote_units": 108340.41868849381,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21327.05478582898,
      "return_pct": 113.27054785828979,
      "cagr_pct": 113.01313956988261,
      "max_drawdown_pct": 25.753759879778205,
      "mean_exposure_while_solvent": 0.8187912434717697,
      "realized_annual_volatility_pct": 42.79639143018292,
      "trading_costs_quote_units": 64.95276605295469,
      "borrowing_costs_quote_units": 37.306899029624255,
      "price_pnl_quote_units": 11429.314450911563,
      "turnover_quote_units": 108254.61008825773,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26988.12894950583,
      "return_pct": 169.88128949505833,
      "cagr_pct": 169.45438610531173,
      "max_drawdown_pct": 37.721085908602106,
      "mean_exposure_while_solvent": 1.2097621639492073,
      "realized_annual_volatility_pct": 63.21583309013891,
      "trading_costs_quote_units": 98.52039283836885,
      "borrowing_costs_quote_units": 745.3167697877501,
      "price_pnl_quote_units": 17831.96611213196,
      "turnover_quote_units": 164200.65473061486,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26691.481641643044,
      "return_pct": 166.91481641643043,
      "cagr_pct": 166.49730209824574,
      "max_drawdown_pct": 45.479040825845104,
      "mean_exposure_while_solvent": 1.4283083904190517,
      "realized_annual_volatility_pct": 74.79226802886988,
      "trading_costs_quote_units": 80.38596461357109,
      "borrowing_costs_quote_units": 1499.4590519382407,
      "price_pnl_quote_units": 18271.326658194856,
      "turnover_quote_units": 133976.6076892852,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 24372.946988264564,
      "return_pct": 143.72946988264565,
      "cagr_pct": 143.3834854336641,
      "max_drawdown_pct": 41.78763767990388,
      "mean_exposure_while_solvent": 1.2151759190933105,
      "realized_annual_volatility_pct": 62.919365599262555,
      "trading_costs_quote_units": 139.52158290895608,
      "borrowing_costs_quote_units": 790.5476038407852,
      "price_pnl_quote_units": 15303.016175014349,
      "turnover_quote_units": 232535.9715149267,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26390.672744899945,
      "return_pct": 163.90672744899945,
      "cagr_pct": 163.49868040291312,
      "max_drawdown_pct": 39.51587124697989,
      "mean_exposure_while_solvent": 1.2081473278567394,
      "realized_annual_volatility_pct": 64.13201622876385,
      "trading_costs_quote_units": 60.68755490863421,
      "borrowing_costs_quote_units": 708.2719634581345,
      "price_pnl_quote_units": 17159.632263266725,
      "turnover_quote_units": 101145.92484772371,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21884.454124432952,
      "return_pct": 118.84454124432952,
      "cagr_pct": 118.571413375204,
      "max_drawdown_pct": 30.372565518275763,
      "mean_exposure_while_solvent": 0.9835517201376855,
      "realized_annual_volatility_pct": 51.50317129099952,
      "trading_costs_quote_units": 15.245358401980813,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11899.69948283494,
      "turnover_quote_units": 25408.930669968027,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 69,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 18398.39009030562,
      "return_pct": 83.98390090305621,
      "cagr_pct": 83.805127529652,
      "max_drawdown_pct": 22.71223002992896,
      "mean_exposure_while_solvent": 0.7490793422111663,
      "realized_annual_volatility_pct": 39.24007775782059,
      "trading_costs_quote_units": 15.492382884954141,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8413.882473190557,
      "turnover_quote_units": 25820.638141590196,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21800.014406358237,
      "return_pct": 118.00014406358237,
      "cagr_pct": 117.72941218556974,
      "max_drawdown_pct": 30.160442748151837,
      "mean_exposure_while_solvent": 0.9986338797814208,
      "realized_annual_volatility_pct": 52.35986574651184,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11806.010808516961,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 24094.550964448623,
      "return_pct": 140.9455096444862,
      "cagr_pct": 140.60788458851846,
      "max_drawdown_pct": 38.69833748279812,
      "mean_exposure_while_solvent": 1.2482500731604997,
      "realized_annual_volatility_pct": 65.51717753191303,
      "trading_costs_quote_units": 28.970212156331442,
      "borrowing_costs_quote_units": 818.9506006395426,
      "price_pnl_quote_units": 14942.471777244487,
      "turnover_quote_units": 48283.68692721912,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26148.480049056197,
      "return_pct": 161.48480049056198,
      "cagr_pct": 161.0843363293361,
      "max_drawdown_pct": 46.66519170176553,
      "mean_exposure_while_solvent": 1.4979214421087508,
      "realized_annual_volatility_pct": 78.71716176292928,
      "trading_costs_quote_units": 63.430452725418725,
      "borrowing_costs_quote_units": 1727.969672945291,
      "price_pnl_quote_units": 17939.880174726924,
      "turnover_quote_units": 105717.4212090312,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 20916.586659968252,
      "return_pct": 109.1658665996825,
      "cagr_pct": 108.91988641815749,
      "max_drawdown_pct": 25.915724692591336,
      "mean_exposure_while_solvent": 0.8195705443644646,
      "realized_annual_volatility_pct": 42.63921584459304,
      "trading_costs_quote_units": 320.3142743395167,
      "borrowing_costs_quote_units": 9.185060285482844,
      "price_pnl_quote_units": 11246.08599459324,
      "turnover_quote_units": 106771.42477983888,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 27177.064969311054,
      "return_pct": 171.77064969311053,
      "cagr_pct": 171.3377393080796,
      "max_drawdown_pct": 37.15868440874651,
      "mean_exposure_while_solvent": 1.2107829444319875,
      "realized_annual_volatility_pct": 62.962577485702575,
      "trading_costs_quote_units": 488.4735293072134,
      "borrowing_costs_quote_units": 186.79814289333262,
      "price_pnl_quote_units": 17852.33664151163,
      "turnover_quote_units": 162824.50976907107,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 28132.934289613833,
      "return_pct": 181.32934289613831,
      "cagr_pct": 180.86572475025164,
      "max_drawdown_pct": 44.20498914870432,
      "mean_exposure_while_solvent": 1.4293907258930136,
      "realized_annual_volatility_pct": 74.70619333607218,
      "trading_costs_quote_units": 419.98330060462587,
      "borrowing_costs_quote_units": 385.9590465091112,
      "price_pnl_quote_units": 18938.876636727597,
      "turnover_quote_units": 139994.4335348753,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 23989.404817870316,
      "return_pct": 139.89404817870317,
      "cagr_pct": 139.55956707192087,
      "max_drawdown_pct": 41.46889884296694,
      "mean_exposure_while_solvent": 1.2161160918036817,
      "realized_annual_volatility_pct": 62.671187620132386,
      "trading_costs_quote_units": 684.7105166088012,
      "borrowing_costs_quote_units": 195.3532781348925,
      "price_pnl_quote_units": 14869.468612614008,
      "turnover_quote_units": 228236.8388696004,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 26823.983263662714,
      "return_pct": 168.23983263662714,
      "cagr_pct": 167.8181310012815,
      "max_drawdown_pct": 39.11875173262403,
      "mean_exposure_while_solvent": 1.2090350657690156,
      "realized_annual_volatility_pct": 63.970725012216846,
      "trading_costs_quote_units": 309.4775407768516,
      "borrowing_costs_quote_units": 178.38501884951077,
      "price_pnl_quote_units": 17311.845823289128,
      "turnover_quote_units": 103159.18025895055,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21888.584859614897,
      "return_pct": 118.88584859614899,
      "cagr_pct": 118.61260338365192,
      "max_drawdown_pct": 30.556704597631235,
      "mean_exposure_while_solvent": 0.9844854547348109,
      "realized_annual_volatility_pct": 51.51328979184691,
      "trading_costs_quote_units": 75.97199430766952,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11964.556853922557,
      "turnover_quote_units": 25323.99810255651,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 69,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 18398.788593251295,
      "return_pct": 83.98788593251294,
      "cagr_pct": 83.80910233878211,
      "max_drawdown_pct": 22.868938092054382,
      "mean_exposure_while_solvent": 0.7498254324991316,
      "realized_annual_volatility_pct": 39.25074236289581,
      "trading_costs_quote_units": 79.82156726970906,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8478.610160521015,
      "turnover_quote_units": 26607.18908990304,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21901.80765869255,
      "return_pct": 119.01807658692549,
      "cagr_pct": 118.74445566599618,
      "max_drawdown_pct": 30.160442748151826,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 52.36294097848937,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11931.71792788496,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25034.068618466263,
      "return_pct": 150.34068618466262,
      "cagr_pct": 149.97464872190912,
      "max_drawdown_pct": 37.842928363011275,
      "mean_exposure_while_solvent": 1.2492155378593697,
      "realized_annual_volatility_pct": 65.50568672385329,
      "trading_costs_quote_units": 151.53640397841008,
      "borrowing_costs_quote_units": 209.36924804517665,
      "price_pnl_quote_units": 15394.974270489867,
      "turnover_quote_units": 50512.13465947005,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 28050.065515934857,
      "return_pct": 180.50065515934855,
      "cagr_pct": 180.03971990438495,
      "max_drawdown_pct": 45.17298194405802,
      "mean_exposure_while_solvent": 1.4988545437471945,
      "realized_annual_volatility_pct": 78.68467633200206,
      "trading_costs_quote_units": 338.52105382373736,
      "borrowing_costs_quote_units": 448.99376869794287,
      "price_pnl_quote_units": 18837.580338456573,
      "turnover_quote_units": 112840.35127457902,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 20903.996227427575,
      "return_pct": 109.03996227427575,
      "cagr_pct": 108.7943306191586,
      "max_drawdown_pct": 25.923492468533983,
      "mean_exposure_while_solvent": 0.8195713345855516,
      "realized_annual_volatility_pct": 42.639213074637986,
      "trading_costs_quote_units": 320.2505463307176,
      "borrowing_costs_quote_units": 18.36565289425763,
      "price_pnl_quote_units": 11242.612426652553,
      "turnover_quote_units": 106750.18211023929,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 26871.480695634345,
      "return_pct": 168.71480695634347,
      "cagr_pct": 168.2916017710885,
      "max_drawdown_pct": 37.407391485280215,
      "mean_exposure_while_solvent": 1.2108006738781547,
      "realized_annual_volatility_pct": 62.963413397236614,
      "trading_costs_quote_units": 485.608799448978,
      "borrowing_costs_quote_units": 371.26525561500716,
      "price_pnl_quote_units": 17728.354750698298,
      "turnover_quote_units": 161869.59981632585,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27534.578199736523,
      "return_pct": 175.3457819973652,
      "cagr_pct": 174.90144789376848,
      "max_drawdown_pct": 44.66346762670162,
      "mean_exposure_while_solvent": 1.4294264526281615,
      "realized_annual_volatility_pct": 74.70881120215216,
      "trading_costs_quote_units": 415.50382802447893,
      "borrowing_costs_quote_units": 762.6440707536733,
      "price_pnl_quote_units": 18712.726098514617,
      "turnover_quote_units": 138501.27600815968,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 23699.12807185199,
      "return_pct": 136.9912807185199,
      "cagr_pct": 136.66544097406853,
      "max_drawdown_pct": 41.727049596537015,
      "mean_exposure_while_solvent": 1.216135381011467,
      "realized_annual_volatility_pct": 62.67251537217725,
      "trading_costs_quote_units": 680.4532719639985,
      "borrowing_costs_quote_units": 388.1807370385322,
      "price_pnl_quote_units": 14767.762080854505,
      "turnover_quote_units": 226817.75732133302,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 26540.575517760833,
      "return_pct": 165.40575517760834,
      "cagr_pct": 164.99299705844348,
      "max_drawdown_pct": 39.32658038887429,
      "mean_exposure_while_solvent": 1.2090512554400301,
      "realized_annual_volatility_pct": 63.97167196916664,
      "trading_costs_quote_units": 307.8031647177974,
      "borrowing_costs_quote_units": 354.6125622780883,
      "price_pnl_quote_units": 17202.991244756697,
      "turnover_quote_units": 102601.05490593253,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 21888.584859614897,
      "return_pct": 118.88584859614899,
      "cagr_pct": 118.61260338365192,
      "max_drawdown_pct": 30.556704597631235,
      "mean_exposure_while_solvent": 0.9844854547348109,
      "realized_annual_volatility_pct": 51.51328979184691,
      "trading_costs_quote_units": 75.97199430766952,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11964.556853922557,
      "turnover_quote_units": 25323.99810255651,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 69,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 18398.788593251295,
      "return_pct": 83.98788593251294,
      "cagr_pct": 83.80910233878211,
      "max_drawdown_pct": 22.868938092054382,
      "mean_exposure_while_solvent": 0.7498254324991316,
      "realized_annual_volatility_pct": 39.25074236289581,
      "trading_costs_quote_units": 79.82156726970906,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8478.610160521015,
      "turnover_quote_units": 26607.18908990304,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 21901.80765869255,
      "return_pct": 119.01807658692549,
      "cagr_pct": 118.74445566599618,
      "max_drawdown_pct": 30.160442748151826,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 52.36294097848937,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11931.71792788496,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 24723.29532188872,
      "return_pct": 147.2329532188872,
      "cagr_pct": 146.8763770958621,
      "max_drawdown_pct": 38.15110690267617,
      "mean_exposure_while_solvent": 1.2492333237104376,
      "realized_annual_volatility_pct": 65.50707718647463,
      "trading_costs_quote_units": 150.75194822749893,
      "borrowing_costs_quote_units": 415.88537624918627,
      "price_pnl_quote_units": 15289.932646365443,
      "turnover_quote_units": 50250.6494091663,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27357.9767220169,
      "return_pct": 173.579767220169,
      "cagr_pct": 173.14108539362093,
      "max_drawdown_pct": 45.715932010587146,
      "mean_exposure_while_solvent": 1.4988972282150756,
      "realized_annual_volatility_pct": 78.68802869923739,
      "trading_costs_quote_units": 334.5480589773101,
      "borrowing_costs_quote_units": 885.6365759510381,
      "price_pnl_quote_units": 18578.16135694526,
      "turnover_quote_units": 111516.01965910335,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 20878.833038170713,
      "return_pct": 108.78833038170713,
      "cagr_pct": 108.54339492871125,
      "max_drawdown_pct": 25.93902841783604,
      "mean_exposure_while_solvent": 0.8195729152316349,
      "realized_annual_volatility_pct": 42.63920877970023,
      "trading_costs_quote_units": 320.12315582775284,
      "borrowing_costs_quote_units": 36.71344048599778,
      "price_pnl_quote_units": 11235.669634484475,
      "turnover_quote_units": 106707.71860925086,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26270.414983372764,
      "return_pct": 162.70414983372766,
      "cagr_pct": 162.29987241087446,
      "max_drawdown_pct": 37.9019785846977,
      "mean_exposure_while_solvent": 1.2108361394436544,
      "realized_annual_volatility_pct": 62.96510560610524,
      "trading_costs_quote_units": 479.95505260182836,
      "borrowing_costs_quote_units": 733.3137945595352,
      "price_pnl_quote_units": 17483.68383053415,
      "turnover_quote_units": 159985.01753394256,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26375.448823159488,
      "return_pct": 163.75448823159488,
      "cagr_pct": 163.34691887990678,
      "max_drawdown_pct": 45.56939005880174,
      "mean_exposure_while_solvent": 1.429497920918274,
      "realized_annual_volatility_pct": 74.71405455126391,
      "trading_costs_quote_units": 406.7607333106627,
      "borrowing_costs_quote_units": 1489.0221275699216,
      "price_pnl_quote_units": 18271.231684040096,
      "turnover_quote_units": 135586.91110355433,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 23128.905876042852,
      "return_pct": 131.2890587604285,
      "cagr_pct": 130.98002894384516,
      "max_drawdown_pct": 42.24006811288798,
      "mean_exposure_while_solvent": 1.2161739668429692,
      "realized_annual_volatility_pct": 62.67519181668219,
      "trading_costs_quote_units": 672.0604559705139,
      "borrowing_costs_quote_units": 766.3810410623441,
      "price_pnl_quote_units": 14567.3473730757,
      "turnover_quote_units": 224020.15199017126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 25982.57606152733,
      "return_pct": 159.82576061527328,
      "cagr_pct": 159.4304702336077,
      "max_drawdown_pct": 39.740209357043895,
      "mean_exposure_while_solvent": 1.2090836405483503,
      "realized_annual_volatility_pct": 63.97358073110985,
      "trading_costs_quote_units": 304.4946840620089,
      "borrowing_costs_quote_units": 700.6907787718791,
      "price_pnl_quote_units": 16987.761524361118,
      "turnover_quote_units": 101498.22802066948,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 21888.584859614897,
      "return_pct": 118.88584859614899,
      "cagr_pct": 118.61260338365192,
      "max_drawdown_pct": 30.556704597631235,
      "mean_exposure_while_solvent": 0.9844854547348109,
      "realized_annual_volatility_pct": 51.51328979184691,
      "trading_costs_quote_units": 75.97199430766952,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11964.556853922557,
      "turnover_quote_units": 25323.99810255651,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 69,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 18398.788593251295,
      "return_pct": 83.98788593251294,
      "cagr_pct": 83.80910233878211,
      "max_drawdown_pct": 22.868938092054382,
      "mean_exposure_while_solvent": 0.7498254324991316,
      "realized_annual_volatility_pct": 39.25074236289581,
      "trading_costs_quote_units": 79.82156726970906,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8478.610160521015,
      "turnover_quote_units": 26607.18908990304,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 21901.80765869255,
      "return_pct": 119.01807658692549,
      "cagr_pct": 118.74445566599618,
      "max_drawdown_pct": 30.160442748151826,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 52.36294097848937,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11931.71792788496,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 24113.11625641058,
      "return_pct": 141.1311625641058,
      "cagr_pct": 140.7929816332827,
      "max_drawdown_pct": 38.76303179139122,
      "mean_exposure_while_solvent": 1.2492689008878357,
      "realized_annual_volatility_pct": 65.50985911978877,
      "trading_costs_quote_units": 149.219017705387,
      "borrowing_costs_quote_units": 820.5044239307081,
      "price_pnl_quote_units": 15082.83969804664,
      "turnover_quote_units": 49739.67256846234,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26024.18692941078,
      "return_pct": 160.2418692941078,
      "cagr_pct": 159.8452828393963,
      "max_drawdown_pct": 46.78606357026296,
      "mean_exposure_while_solvent": 1.4989826156513546,
      "realized_annual_volatility_pct": 78.69473647101579,
      "trading_costs_quote_units": 326.84444274443314,
      "borrowing_costs_quote_units": 1723.1452353255158,
      "price_pnl_quote_units": 18074.17660748076,
      "turnover_quote_units": 108948.14758147762,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 20988.472807255614,
      "return_pct": 109.88472807255611,
      "cagr_pct": 109.63675564370318,
      "max_drawdown_pct": 25.940267653390304,
      "mean_exposure_while_solvent": 0.8187888809059098,
      "realized_annual_volatility_pct": 42.798022792898884,
      "trading_costs_quote_units": 321.76818890648644,
      "borrowing_costs_quote_units": 9.208112797916575,
      "price_pnl_quote_units": 11319.449108960032,
      "turnover_quote_units": 107256.06296882879,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 27260.112142128077,
      "return_pct": 172.60112142128077,
      "cagr_pct": 172.16556403671427,
      "max_drawdown_pct": 37.44979513447885,
      "mean_exposure_while_solvent": 1.209709003406364,
      "realized_annual_volatility_pct": 63.21756612983857,
      "trading_costs_quote_units": 494.34420110560234,
      "borrowing_costs_quote_units": 187.03771036548716,
      "price_pnl_quote_units": 17941.494053599163,
      "turnover_quote_units": 164781.4003685343,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 27915.64525342951,
      "return_pct": 179.1564525342951,
      "cagr_pct": 178.69986087860536,
      "max_drawdown_pct": 44.49050586701454,
      "mean_exposure_while_solvent": 1.4282013252521089,
      "realized_annual_volatility_pct": 74.79276813804248,
      "trading_costs_quote_units": 410.3963201387013,
      "borrowing_costs_quote_units": 383.7407625057383,
      "price_pnl_quote_units": 18709.782336073953,
      "turnover_quote_units": 136798.77337956717,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 24440.19646020612,
      "return_pct": 144.4019646020612,
      "cagr_pct": 144.05395325155595,
      "max_drawdown_pct": 41.630044862720595,
      "mean_exposure_while_solvent": 1.2151180664246362,
      "realized_annual_volatility_pct": 62.92001445340467,
      "trading_costs_quote_units": 697.4758978203321,
      "borrowing_costs_quote_units": 197.5181246580946,
      "price_pnl_quote_units": 15335.190482684571,
      "turnover_quote_units": 232491.96594011082,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 26815.70436993471,
      "return_pct": 168.1570436993471,
      "cagr_pct": 167.735603998896,
      "max_drawdown_pct": 39.17904059930446,
      "mean_exposure_while_solvent": 1.208098753366042,
      "realized_annual_volatility_pct": 64.1331497338944,
      "trading_costs_quote_units": 305.40505620563926,
      "borrowing_costs_quote_units": 178.43115417567523,
      "price_pnl_quote_units": 17299.540580316032,
      "turnover_quote_units": 101801.6854018797,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21778.349316123677,
      "return_pct": 117.78349316123675,
      "cagr_pct": 117.51337519626514,
      "max_drawdown_pct": 30.466840344444577,
      "mean_exposure_while_solvent": 0.9835517201376855,
      "realized_annual_volatility_pct": 51.5047088878312,
      "trading_costs_quote_units": 75.9888058492497,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11854.33812197294,
      "turnover_quote_units": 25329.601949749896,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 69,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 18307.4798184154,
      "return_pct": 83.07479818415399,
      "cagr_pct": 82.89835277484414,
      "max_drawdown_pct": 22.81345343815303,
      "mean_exposure_while_solvent": 0.7490793422111663,
      "realized_annual_volatility_pct": 39.24171911760462,
      "trading_costs_quote_units": 77.242008020191,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8384.7218264356,
      "turnover_quote_units": 25747.336006730337,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21747.85086241481,
      "return_pct": 117.4785086241481,
      "cagr_pct": 117.20925429807619,
      "max_drawdown_pct": 30.160442748151826,
      "mean_exposure_while_solvent": 0.9986338797814208,
      "realized_annual_volatility_pct": 52.3608493230412,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11777.76113160723,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 24808.41993987692,
      "return_pct": 148.08419939876921,
      "cagr_pct": 147.72503784134193,
      "max_drawdown_pct": 37.91421574354394,
      "mean_exposure_while_solvent": 1.2481967611536906,
      "realized_annual_volatility_pct": 65.51698497805162,
      "trading_costs_quote_units": 146.4841932203529,
      "borrowing_costs_quote_units": 207.73063148836803,
      "price_pnl_quote_units": 15162.634764585688,
      "turnover_quote_units": 48828.06440678436,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 27728.642704991176,
      "return_pct": 177.28642704991177,
      "cagr_pct": 176.83586099326018,
      "max_drawdown_pct": 45.33991610708037,
      "mean_exposure_while_solvent": 1.4977934539027002,
      "realized_annual_volatility_pct": 78.71563353246113,
      "trading_costs_quote_units": 325.84298493243926,
      "borrowing_costs_quote_units": 445.43772133072935,
      "price_pnl_quote_units": 18499.923411254425,
      "turnover_quote_units": 108614.32831081307,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 20975.8419732655,
      "return_pct": 109.75841973265497,
      "cagr_pct": 109.51079763769033,
      "max_drawdown_pct": 25.948035965928064,
      "mean_exposure_while_solvent": 0.8187896683602477,
      "realized_annual_volatility_pct": 42.7979894510178,
      "trading_costs_quote_units": 321.703624462436,
      "borrowing_costs_quote_units": 18.411740125938014,
      "price_pnl_quote_units": 11315.957337853879,
      "turnover_quote_units": 107234.54148747874,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 26953.706761373152,
      "return_pct": 169.5370676137315,
      "cagr_pct": 169.11125637661738,
      "max_drawdown_pct": 37.69687086149184,
      "mean_exposure_while_solvent": 1.209726721363689,
      "realized_annual_volatility_pct": 63.21807994377547,
      "trading_costs_quote_units": 491.48367667002486,
      "borrowing_costs_quote_units": 371.73788994218364,
      "price_pnl_quote_units": 17816.928327985337,
      "turnover_quote_units": 163827.89222334154,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27322.598612766487,
      "return_pct": 173.22598612766487,
      "cagr_pct": 172.78843443214075,
      "max_drawdown_pct": 44.94640666976909,
      "mean_exposure_while_solvent": 1.4282370087080234,
      "realized_annual_volatility_pct": 74.79480579339518,
      "trading_costs_quote_units": 405.9584650664635,
      "borrowing_costs_quote_units": 758.2806430570345,
      "price_pnl_quote_units": 18486.83772089,
      "turnover_quote_units": 135319.48835548788,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 24144.568896503853,
      "return_pct": 141.44568896503853,
      "cagr_pct": 141.10656577281713,
      "max_drawdown_pct": 41.88733453188978,
      "mean_exposure_while_solvent": 1.215137348176516,
      "realized_annual_volatility_pct": 62.92090557638274,
      "trading_costs_quote_units": 693.156629223012,
      "borrowing_costs_quote_units": 392.48017517131194,
      "price_pnl_quote_units": 15230.205700898145,
      "turnover_quote_units": 231052.20974100402,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 26532.459091478377,
      "return_pct": 165.32459091478376,
      "cagr_pct": 164.9120882200988,
      "max_drawdown_pct": 39.38645814673697,
      "mean_exposure_while_solvent": 1.2081149429399403,
      "realized_annual_volatility_pct": 64.13374341669311,
      "trading_costs_quote_units": 303.80160086679336,
      "borrowing_costs_quote_units": 354.7030596700385,
      "price_pnl_quote_units": 17190.963752015225,
      "turnover_quote_units": 101267.20028893108,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21778.349316123677,
      "return_pct": 117.78349316123675,
      "cagr_pct": 117.51337519626514,
      "max_drawdown_pct": 30.466840344444577,
      "mean_exposure_while_solvent": 0.9835517201376855,
      "realized_annual_volatility_pct": 51.5047088878312,
      "trading_costs_quote_units": 75.9888058492497,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11854.33812197294,
      "turnover_quote_units": 25329.601949749896,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 69,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 18307.4798184154,
      "return_pct": 83.07479818415399,
      "cagr_pct": 82.89835277484414,
      "max_drawdown_pct": 22.81345343815303,
      "mean_exposure_while_solvent": 0.7490793422111663,
      "realized_annual_volatility_pct": 39.24171911760462,
      "trading_costs_quote_units": 77.242008020191,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8384.7218264356,
      "turnover_quote_units": 25747.336006730337,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21747.85086241481,
      "return_pct": 117.4785086241481,
      "cagr_pct": 117.20925429807619,
      "max_drawdown_pct": 30.160442748151826,
      "mean_exposure_while_solvent": 0.9986338797814208,
      "realized_annual_volatility_pct": 52.3608493230412,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11777.76113160723,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 24500.787636717276,
      "return_pct": 145.00787636717277,
      "cagr_pct": 144.65803627696218,
      "max_drawdown_pct": 38.222068805638145,
      "mean_exposure_while_solvent": 1.248214529999747,
      "realized_annual_volatility_pct": 65.5180837489747,
      "trading_costs_quote_units": 145.6693226181564,
      "borrowing_costs_quote_units": 412.6361741941003,
      "price_pnl_quote_units": 15059.093133529595,
      "turnover_quote_units": 48556.44087271878,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27045.254726442086,
      "return_pct": 170.45254726442084,
      "cagr_pct": 170.02382983937858,
      "max_drawdown_pct": 45.88129287599572,
      "mean_exposure_while_solvent": 1.4978361104753584,
      "realized_annual_volatility_pct": 78.71829161864143,
      "trading_costs_quote_units": 321.8266965423997,
      "borrowing_costs_quote_units": 878.6518599865426,
      "price_pnl_quote_units": 18245.733282970992,
      "turnover_quote_units": 107275.56551413327,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 20950.598033086775,
      "return_pct": 109.50598033086774,
      "cagr_pct": 109.25905804950382,
      "max_drawdown_pct": 25.96357298721408,
      "mean_exposure_while_solvent": 0.8187912434717697,
      "realized_annual_volatility_pct": 42.797924031358406,
      "trading_costs_quote_units": 321.57456219268886,
      "borrowing_costs_quote_units": 36.80554379619105,
      "price_pnl_quote_units": 11308.978139075649,
      "turnover_quote_units": 107191.52073089624,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26351.041591151887,
      "return_pct": 163.51041591151886,
      "cagr_pct": 163.10361211553763,
      "max_drawdown_pct": 38.1882197245655,
      "mean_exposure_while_solvent": 1.2097621639492073,
      "realized_annual_volatility_pct": 63.219126190417896,
      "trading_costs_quote_units": 485.83070987376544,
      "borrowing_costs_quote_units": 734.2339022813806,
      "price_pnl_quote_units": 17571.106203307045,
      "turnover_quote_units": 161943.5699579218,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26173.68359916137,
      "return_pct": 161.73683599161367,
      "cagr_pct": 161.33558438137135,
      "max_drawdown_pct": 45.84732778065565,
      "mean_exposure_while_solvent": 1.4283083904190517,
      "realized_annual_volatility_pct": 74.79888854492523,
      "trading_costs_quote_units": 397.3208558058399,
      "borrowing_costs_quote_units": 1480.5782369127928,
      "price_pnl_quote_units": 18051.582691880067,
      "turnover_quote_units": 132440.2852686133,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 23563.83981309242,
      "return_pct": 135.6383981309242,
      "cagr_pct": 135.31656656644432,
      "max_drawdown_pct": 42.39867893968599,
      "mean_exposure_while_solvent": 1.2151759190933105,
      "realized_annual_volatility_pct": 62.92270768919833,
      "trading_costs_quote_units": 684.6387212682489,
      "borrowing_costs_quote_units": 774.8601936728944,
      "price_pnl_quote_units": 15023.338728033576,
      "turnover_quote_units": 228212.90708941664,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 25974.76363656767,
      "return_pct": 159.74763636567667,
      "cagr_pct": 159.35258920318495,
      "max_drawdown_pct": 39.79927132233635,
      "mean_exposure_while_solvent": 1.2081473278567394,
      "realized_annual_volatility_pct": 64.13494584348918,
      "trading_costs_quote_units": 300.6368512719261,
      "borrowing_costs_quote_units": 700.8643643200585,
      "price_pnl_quote_units": 16976.264852159675,
      "turnover_quote_units": 100212.2837573088,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21778.349316123677,
      "return_pct": 117.78349316123675,
      "cagr_pct": 117.51337519626514,
      "max_drawdown_pct": 30.466840344444577,
      "mean_exposure_while_solvent": 0.9835517201376855,
      "realized_annual_volatility_pct": 51.5047088878312,
      "trading_costs_quote_units": 75.9888058492497,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11854.33812197294,
      "turnover_quote_units": 25329.601949749896,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 69,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 18307.4798184154,
      "return_pct": 83.07479818415399,
      "cagr_pct": 82.89835277484414,
      "max_drawdown_pct": 22.81345343815303,
      "mean_exposure_while_solvent": 0.7490793422111663,
      "realized_annual_volatility_pct": 39.24171911760462,
      "trading_costs_quote_units": 77.242008020191,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8384.7218264356,
      "turnover_quote_units": 25747.336006730337,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21747.85086241481,
      "return_pct": 117.4785086241481,
      "cagr_pct": 117.20925429807619,
      "max_drawdown_pct": 30.160442748151826,
      "mean_exposure_while_solvent": 0.9986338797814208,
      "realized_annual_volatility_pct": 52.3608493230412,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11777.76113160723,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 23896.757908249077,
      "return_pct": 138.96757908249077,
      "cagr_pct": 138.635862117375,
      "max_drawdown_pct": 38.83337289894754,
      "mean_exposure_while_solvent": 1.2482500731604997,
      "realized_annual_volatility_pct": 65.52028178992056,
      "trading_costs_quote_units": 144.08687010557654,
      "borrowing_costs_quote_units": 814.1163985905793,
      "price_pnl_quote_units": 14854.96117694524,
      "turnover_quote_units": 48028.95670185881,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 25728.163583925914,
      "return_pct": 157.28163583925917,
      "cagr_pct": 156.8942466606988,
      "max_drawdown_pct": 46.94837512265717,
      "mean_exposure_while_solvent": 1.4979214421087508,
      "realized_annual_volatility_pct": 78.72360952123726,
      "trading_costs_quote_units": 314.07300731416615,
      "borrowing_costs_quote_units": 1709.6694408189094,
      "price_pnl_quote_units": 17751.906032059025,
      "turnover_quote_units": 104691.00243805534,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21440.293512935987,
      "return_pct": 114.40293512935989,
      "cagr_pct": 114.14235187737103,
      "max_drawdown_pct": 25.91443019203249,
      "mean_exposure_while_solvent": 0.8268193289142086,
      "realized_annual_volatility_pct": 42.647404448310624,
      "trading_costs_quote_units": 65.3807958824545,
      "borrowing_costs_quote_units": 10.418823139676956,
      "price_pnl_quote_units": 11516.093131958112,
      "turnover_quote_units": 108967.99313742413,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 28059.23875812718,
      "return_pct": 180.5923875812718,
      "cagr_pct": 180.1311555323168,
      "max_drawdown_pct": 36.56681520641983,
      "mean_exposure_while_solvent": 1.2194995133764206,
      "realized_annual_volatility_pct": 62.88306169239474,
      "trading_costs_quote_units": 99.32042452369288,
      "borrowing_costs_quote_units": 197.53203093000707,
      "price_pnl_quote_units": 18356.09121358084,
      "turnover_quote_units": 165534.04087282156,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 28893.10112751901,
      "return_pct": 188.93101127519012,
      "cagr_pct": 188.44260300836484,
      "max_drawdown_pct": 43.685709505977535,
      "mean_exposure_while_solvent": 1.4341910237636968,
      "realized_annual_volatility_pct": 74.29936123381854,
      "trading_costs_quote_units": 84.15103601192149,
      "borrowing_costs_quote_units": 396.72631789513827,
      "price_pnl_quote_units": 19373.978481426093,
      "turnover_quote_units": 140251.7266865357,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 24957.426068899204,
      "return_pct": 149.57426068899204,
      "cagr_pct": 149.2105622978245,
      "max_drawdown_pct": 41.20887254643861,
      "mean_exposure_while_solvent": 1.2241411074373247,
      "realized_annual_volatility_pct": 62.60322437045323,
      "trading_costs_quote_units": 139.3758884594862,
      "borrowing_costs_quote_units": 205.44082657971555,
      "price_pnl_quote_units": 15302.242783938455,
      "turnover_quote_units": 232293.14743247704,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 27434.678294675963,
      "return_pct": 174.34678294675962,
      "cagr_pct": 173.90564844165007,
      "max_drawdown_pct": 38.97747335947599,
      "mean_exposure_while_solvent": 1.218896360742733,
      "realized_annual_volatility_pct": 63.93039194675817,
      "trading_costs_quote_units": 62.900424301850755,
      "borrowing_costs_quote_units": 189.22580224322914,
      "price_pnl_quote_units": 17686.804521221045,
      "turnover_quote_units": 104834.0405030845,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 22025.23458550246,
      "return_pct": 120.2523458550246,
      "cagr_pct": 119.97521180849434,
      "max_drawdown_pct": 30.40472910363311,
      "mean_exposure_while_solvent": 0.9855656254569883,
      "realized_annual_volatility_pct": 51.13030520003833,
      "trading_costs_quote_units": 14.35916005013439,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 12039.593745552584,
      "turnover_quote_units": 23931.933416890646,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 65,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 18521.71002132693,
      "return_pct": 85.21710021326929,
      "cagr_pct": 85.03515754059686,
      "max_drawdown_pct": 22.639059883902448,
      "mean_exposure_while_solvent": 0.7498259337005607,
      "realized_annual_volatility_pct": 38.90598970719197,
      "trading_costs_quote_units": 15.930928297947268,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8537.640949624902,
      "turnover_quote_units": 26551.54716324545,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 22008.58412696269,
      "return_pct": 120.0858412696269,
      "cagr_pct": 119.80918179155378,
      "max_drawdown_pct": 30.006091405991388,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 51.90428099209944,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 12014.580529121386,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25336.95448140781,
      "return_pct": 153.36954481407813,
      "cagr_pct": 152.99422711964806,
      "max_drawdown_pct": 37.5213612586469,
      "mean_exposure_while_solvent": 1.2492137975426003,
      "realized_annual_volatility_pct": 64.9312074047957,
      "trading_costs_quote_units": 30.32104452407809,
      "borrowing_costs_quote_units": 210.74109316102044,
      "price_pnl_quote_units": 15578.016619092932,
      "turnover_quote_units": 50535.07420679684,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 28661.381320222892,
      "return_pct": 186.61381320222893,
      "cagr_pct": 186.13299571716385,
      "max_drawdown_pct": 44.672431911686594,
      "mean_exposure_while_solvent": 1.4988492793488444,
      "realized_annual_volatility_pct": 77.99320897178802,
      "trading_costs_quote_units": 68.02290994205545,
      "borrowing_costs_quote_units": 454.4089989990307,
      "price_pnl_quote_units": 19183.813229163916,
      "turnover_quote_units": 113371.51657009238,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 21425.85058339581,
      "return_pct": 114.25850583395811,
      "cagr_pct": 113.99832805994996,
      "max_drawdown_pct": 25.924160924564077,
      "mean_exposure_while_solvent": 0.8268202181997787,
      "realized_annual_volatility_pct": 42.64740702631766,
      "trading_costs_quote_units": 65.3657249407532,
      "borrowing_costs_quote_units": 20.831798626207487,
      "price_pnl_quote_units": 11512.048106962791,
      "turnover_quote_units": 108942.87490125555,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27733.125869000625,
      "return_pct": 177.33125869000625,
      "cagr_pct": 176.88054841074927,
      "max_drawdown_pct": 36.826841128032875,
      "mean_exposure_while_solvent": 1.2195178842173509,
      "realized_annual_volatility_pct": 62.8839075282671,
      "trading_costs_quote_units": 98.71552177687252,
      "borrowing_costs_quote_units": 392.50110913401454,
      "price_pnl_quote_units": 18224.342499911494,
      "turnover_quote_units": 164525.8696281208,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 28271.81437746346,
      "return_pct": 182.71814377463457,
      "cagr_pct": 182.25002066834347,
      "max_drawdown_pct": 44.15482887049536,
      "mean_exposure_while_solvent": 1.4342272229247512,
      "realized_annual_volatility_pct": 74.3019608394033,
      "trading_costs_quote_units": 83.24544162150173,
      "borrowing_costs_quote_units": 783.7847143554395,
      "price_pnl_quote_units": 19138.844533440337,
      "turnover_quote_units": 138742.4027025029,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 24647.322528725246,
      "return_pct": 146.4732252872525,
      "cagr_pct": 146.11895270190152,
      "max_drawdown_pct": 41.47594327412819,
      "mean_exposure_while_solvent": 1.2241609587223694,
      "realized_annual_volatility_pct": 62.6045774587111,
      "trading_costs_quote_units": 138.47704014184538,
      "borrowing_costs_quote_units": 408.13749306644013,
      "price_pnl_quote_units": 15193.937061933519,
      "turnover_quote_units": 230795.06690307544,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27132.147585448012,
      "return_pct": 171.32147585448016,
      "cagr_pct": 170.88999546120624,
      "max_drawdown_pct": 39.197049260256236,
      "mean_exposure_while_solvent": 1.2189133405864259,
      "realized_annual_volatility_pct": 63.931378403691475,
      "trading_costs_quote_units": 62.54138840747898,
      "borrowing_costs_quote_units": 376.05746246442453,
      "price_pnl_quote_units": 17570.74643631989,
      "turnover_quote_units": 104235.64734579826,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 22025.23458550246,
      "return_pct": 120.2523458550246,
      "cagr_pct": 119.97521180849434,
      "max_drawdown_pct": 30.40472910363311,
      "mean_exposure_while_solvent": 0.9855656254569883,
      "realized_annual_volatility_pct": 51.13030520003833,
      "trading_costs_quote_units": 14.35916005013439,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 12039.593745552584,
      "turnover_quote_units": 23931.933416890646,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 65,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 18521.71002132693,
      "return_pct": 85.21710021326929,
      "cagr_pct": 85.03515754059686,
      "max_drawdown_pct": 22.639059883902448,
      "mean_exposure_while_solvent": 0.7498259337005607,
      "realized_annual_volatility_pct": 38.90598970719197,
      "trading_costs_quote_units": 15.930928297947268,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8537.640949624902,
      "turnover_quote_units": 26551.54716324545,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 22008.58412696269,
      "return_pct": 120.0858412696269,
      "cagr_pct": 119.80918179155378,
      "max_drawdown_pct": 30.006091405991388,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 51.90428099209944,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 12014.580529121386,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 25022.40715809111,
      "return_pct": 150.2240715809111,
      "cagr_pct": 149.8583902578242,
      "max_drawdown_pct": 37.83108861654703,
      "mean_exposure_while_solvent": 1.249231583388223,
      "realized_annual_volatility_pct": 64.93257427137812,
      "trading_costs_quote_units": 30.163432260609834,
      "borrowing_costs_quote_units": 418.60754152623366,
      "price_pnl_quote_units": 15471.178131877887,
      "turnover_quote_units": 50272.38710101645,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27954.20123599399,
      "return_pct": 179.54201235993992,
      "cagr_pct": 179.08417587263847,
      "max_drawdown_pct": 45.22021876416016,
      "mean_exposure_while_solvent": 1.4988919634733127,
      "realized_annual_volatility_pct": 77.99650323056116,
      "trading_costs_quote_units": 67.22096612124396,
      "borrowing_costs_quote_units": 896.2906223826012,
      "price_pnl_quote_units": 18917.71282449789,
      "turnover_quote_units": 112034.94353540658,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 21396.9880664733,
      "return_pct": 113.969880664733,
      "cagr_pct": 113.71051272747259,
      "max_drawdown_pct": 25.943622149474955,
      "mean_exposure_while_solvent": 0.8268219970036936,
      "realized_annual_volatility_pct": 42.64741363719386,
      "trading_costs_quote_units": 65.33560091607171,
      "borrowing_costs_quote_units": 41.6402154976105,
      "price_pnl_quote_units": 11503.963882886968,
      "turnover_quote_units": 108892.66819345279,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 27092.066512131856,
      "return_pct": 170.92066512131856,
      "cagr_pct": 170.49045975297443,
      "max_drawdown_pct": 37.34382724456909,
      "mean_exposure_while_solvent": 1.219554632843889,
      "realized_annual_volatility_pct": 62.885617935368565,
      "trading_costs_quote_units": 97.52175269296946,
      "borrowing_costs_quote_units": 774.8734804328382,
      "price_pnl_quote_units": 17964.4617452577,
      "turnover_quote_units": 162536.2544882825,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 27068.70938069342,
      "return_pct": 170.6870938069342,
      "cagr_pct": 170.25763102117088,
      "max_drawdown_pct": 45.081619078539084,
      "mean_exposure_while_solvent": 1.434299636311212,
      "realized_annual_volatility_pct": 74.30716690783802,
      "trading_costs_quote_units": 81.48040268007384,
      "borrowing_costs_quote_units": 1529.7744116311815,
      "price_pnl_quote_units": 18679.964195004715,
      "turnover_quote_units": 135800.6711334563,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 24038.469855446565,
      "return_pct": 140.38469855446567,
      "cagr_pct": 140.04875127580158,
      "max_drawdown_pct": 42.00658297478326,
      "mean_exposure_while_solvent": 1.2242006689512102,
      "realized_annual_volatility_pct": 62.6073040695733,
      "trading_costs_quote_units": 136.70642791613173,
      "borrowing_costs_quote_units": 805.4360967769347,
      "price_pnl_quote_units": 14980.612380139635,
      "turnover_quote_units": 227844.04652688588,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26536.915509216928,
      "return_pct": 165.3691550921693,
      "cagr_pct": 164.95651215860389,
      "max_drawdown_pct": 39.633937279064156,
      "mean_exposure_while_solvent": 1.2189473063797491,
      "realized_annual_volatility_pct": 63.93336639157038,
      "trading_costs_quote_units": 61.83173618480306,
      "borrowing_costs_quote_units": 742.6492523889477,
      "price_pnl_quote_units": 17341.396497790633,
      "turnover_quote_units": 103052.89364133854,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 22025.23458550246,
      "return_pct": 120.2523458550246,
      "cagr_pct": 119.97521180849434,
      "max_drawdown_pct": 30.40472910363311,
      "mean_exposure_while_solvent": 0.9855656254569883,
      "realized_annual_volatility_pct": 51.13030520003833,
      "trading_costs_quote_units": 14.35916005013439,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 12039.593745552584,
      "turnover_quote_units": 23931.933416890646,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 65,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 18521.71002132693,
      "return_pct": 85.21710021326929,
      "cagr_pct": 85.03515754059686,
      "max_drawdown_pct": 22.639059883902448,
      "mean_exposure_while_solvent": 0.7498259337005607,
      "realized_annual_volatility_pct": 38.90598970719197,
      "trading_costs_quote_units": 15.930928297947268,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8537.640949624902,
      "turnover_quote_units": 26551.54716324545,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 22008.58412696269,
      "return_pct": 120.0858412696269,
      "cagr_pct": 119.80918179155378,
      "max_drawdown_pct": 30.006091405991388,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 51.90428099209944,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 12014.580529121386,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 24404.83782356567,
      "return_pct": 144.0483782356567,
      "cagr_pct": 143.70143296298886,
      "max_drawdown_pct": 38.44608092753678,
      "mean_exposure_while_solvent": 1.2492671605547705,
      "realized_annual_volatility_pct": 64.93530871836334,
      "trading_costs_quote_units": 29.855601814435907,
      "borrowing_costs_quote_units": 825.8640977826261,
      "price_pnl_quote_units": 15260.557523162766,
      "turnover_quote_units": 49759.33635739311,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26591.37846414769,
      "return_pct": 165.91378464147687,
      "cagr_pct": 165.49942685432308,
      "max_drawdown_pct": 46.29986890372504,
      "mean_exposure_while_solvent": 1.4989773502226176,
      "realized_annual_volatility_pct": 78.00309405186843,
      "trading_costs_quote_units": 65.66641097553527,
      "borrowing_costs_quote_units": 1743.7687014608064,
      "price_pnl_quote_units": 18400.813576584038,
      "turnover_quote_units": 109444.01829255879,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21533.209288204212,
      "return_pct": 115.33209288204213,
      "cagr_pct": 115.0688973719689,
      "max_drawdown_pct": 25.941649506298713,
      "mean_exposure_while_solvent": 0.8260247365670924,
      "realized_annual_volatility_pct": 42.814772679410694,
      "trading_costs_quote_units": 65.70378061977138,
      "borrowing_costs_quote_units": 10.45358615665803,
      "price_pnl_quote_units": 11609.366654980637,
      "turnover_quote_units": 109506.30103295227,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 28185.41352892974,
      "return_pct": 181.8541352892974,
      "cagr_pct": 181.38881611180366,
      "max_drawdown_pct": 36.838995584386126,
      "mean_exposure_while_solvent": 1.218439842016336,
      "realized_annual_volatility_pct": 63.1493299348447,
      "trading_costs_quote_units": 100.82017499425585,
      "borrowing_costs_quote_units": 198.0540767780973,
      "price_pnl_quote_units": 18484.287780702096,
      "turnover_quote_units": 168033.62499042653,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 28658.702981082424,
      "return_pct": 186.58702981082422,
      "cagr_pct": 186.10629989039901,
      "max_drawdown_pct": 43.945809848138005,
      "mean_exposure_while_solvent": 1.433018870091291,
      "realized_annual_volatility_pct": 74.38319624414397,
      "trading_costs_quote_units": 82.8516978908722,
      "borrowing_costs_quote_units": 394.4725302543503,
      "price_pnl_quote_units": 19136.027209227643,
      "turnover_quote_units": 138086.16315145366,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25481.202794548964,
      "return_pct": 154.81202794548966,
      "cagr_pct": 154.43227029809933,
      "max_drawdown_pct": 41.314840646490325,
      "mean_exposure_while_solvent": 1.2231500280323133,
      "realized_annual_volatility_pct": 62.85381374664133,
      "trading_costs_quote_units": 142.34044711632328,
      "borrowing_costs_quote_units": 208.06030946812854,
      "price_pnl_quote_units": 15831.603551133363,
      "turnover_quote_units": 237234.07852720568,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 27447.187656357488,
      "return_pct": 174.47187656357488,
      "cagr_pct": 174.03034172432825,
      "max_drawdown_pct": 39.04221465262404,
      "mean_exposure_while_solvent": 1.2179727525401982,
      "realized_annual_volatility_pct": 64.1012960238688,
      "trading_costs_quote_units": 62.10912551655474,
      "borrowing_costs_quote_units": 189.39943359239103,
      "price_pnl_quote_units": 17698.69621546644,
      "turnover_quote_units": 103515.20919425787,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21935.535310690077,
      "return_pct": 119.35535310690075,
      "cagr_pct": 119.08077328451525,
      "max_drawdown_pct": 30.259596277389058,
      "mean_exposure_while_solvent": 0.9846312449128017,
      "realized_annual_volatility_pct": 51.12558275934474,
      "trading_costs_quote_units": 14.3611501602572,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11949.896460850327,
      "turnover_quote_units": 23935.250267095333,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 65,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 18431.700928039587,
      "return_pct": 84.31700928039587,
      "cagr_pct": 84.13738111691971,
      "max_drawdown_pct": 22.588310694544113,
      "mean_exposure_while_solvent": 0.749070986055657,
      "realized_annual_volatility_pct": 38.89553171758418,
      "trading_costs_quote_units": 15.425551692717764,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8447.1264797323,
      "turnover_quote_units": 25709.252821196304,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21859.09795284808,
      "return_pct": 118.59097952848079,
      "cagr_pct": 118.31857169010544,
      "max_drawdown_pct": 30.0060914059914,
      "mean_exposure_while_solvent": 0.9986338797814208,
      "realized_annual_volatility_pct": 51.90222202926068,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11865.094355006779,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 25108.339221685135,
      "return_pct": 151.08339221685134,
      "cagr_pct": 150.71508451370065,
      "max_drawdown_pct": 37.59927153876741,
      "mean_exposure_while_solvent": 1.24820971209036,
      "realized_annual_volatility_pct": 64.94391295326386,
      "trading_costs_quote_units": 29.330301963429516,
      "borrowing_costs_quote_units": 209.11230570624465,
      "price_pnl_quote_units": 15346.781829354812,
      "turnover_quote_units": 48883.83660571585,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 28322.71679062387,
      "return_pct": 183.22716790623866,
      "cagr_pct": 182.75739092094017,
      "max_drawdown_pct": 44.853432817763895,
      "mean_exposure_while_solvent": 1.4978233852044969,
      "realized_annual_volatility_pct": 78.0276207466362,
      "trading_costs_quote_units": 65.5160829123794,
      "borrowing_costs_quote_units": 450.71895867669673,
      "price_pnl_quote_units": 18838.951832213,
      "turnover_quote_units": 109193.47152063236,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21518.706437026653,
      "return_pct": 115.18706437026651,
      "cagr_pct": 114.92427701766168,
      "max_drawdown_pct": 25.951380636707377,
      "mean_exposure_while_solvent": 0.8260256227696449,
      "realized_annual_volatility_pct": 42.814743555829814,
      "trading_costs_quote_units": 65.68859218375762,
      "borrowing_costs_quote_units": 20.901296656982467,
      "price_pnl_quote_units": 11605.296325867412,
      "turnover_quote_units": 109480.98697292933,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27857.973035337578,
      "return_pct": 178.57973035337577,
      "cagr_pct": 178.12499914237154,
      "max_drawdown_pct": 37.0974527224825,
      "mean_exposure_while_solvent": 1.2184582030055087,
      "realized_annual_volatility_pct": 63.1498589485531,
      "trading_costs_quote_units": 100.2176070455456,
      "borrowing_costs_quote_units": 393.5346595395707,
      "price_pnl_quote_units": 18351.72530192269,
      "turnover_quote_units": 167029.34507590928,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 28043.034264964295,
      "return_pct": 180.43034264964297,
      "cagr_pct": 179.96963485372754,
      "max_drawdown_pct": 44.41265662905964,
      "mean_exposure_while_solvent": 1.433055026327157,
      "realized_annual_volatility_pct": 74.38523846255127,
      "trading_costs_quote_units": 81.94742089126258,
      "borrowing_costs_quote_units": 779.3517969796779,
      "price_pnl_quote_units": 18904.33348283527,
      "turnover_quote_units": 136579.0348187709,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 25164.69492060284,
      "return_pct": 151.64694920602838,
      "cagr_pct": 151.2769165390617,
      "max_drawdown_pct": 41.58135749745037,
      "mean_exposure_while_solvent": 1.2231698730741258,
      "realized_annual_volatility_pct": 62.85473227004205,
      "trading_costs_quote_units": 141.42848974875355,
      "borrowing_costs_quote_units": 413.33829081047503,
      "price_pnl_quote_units": 15719.461701162134,
      "turnover_quote_units": 235714.149581256,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27144.645045921658,
      "return_pct": 171.44645045921658,
      "cagr_pct": 171.01457231484946,
      "max_drawdown_pct": 39.261332323991574,
      "mean_exposure_while_solvent": 1.2179897334599663,
      "realized_annual_volatility_pct": 64.10193332165765,
      "trading_costs_quote_units": 61.7643126465554,
      "borrowing_costs_quote_units": 376.40131132093336,
      "price_pnl_quote_units": 17582.810669889208,
      "turnover_quote_units": 102940.52107759233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21935.535310690077,
      "return_pct": 119.35535310690075,
      "cagr_pct": 119.08077328451525,
      "max_drawdown_pct": 30.259596277389058,
      "mean_exposure_while_solvent": 0.9846312449128017,
      "realized_annual_volatility_pct": 51.12558275934474,
      "trading_costs_quote_units": 14.3611501602572,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11949.896460850327,
      "turnover_quote_units": 23935.250267095333,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 65,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 18431.700928039587,
      "return_pct": 84.31700928039587,
      "cagr_pct": 84.13738111691971,
      "max_drawdown_pct": 22.588310694544113,
      "mean_exposure_while_solvent": 0.749070986055657,
      "realized_annual_volatility_pct": 38.89553171758418,
      "trading_costs_quote_units": 15.425551692717764,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8447.1264797323,
      "turnover_quote_units": 25709.252821196304,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21859.09795284808,
      "return_pct": 118.59097952848079,
      "cagr_pct": 118.31857169010544,
      "max_drawdown_pct": 30.0060914059914,
      "mean_exposure_while_solvent": 0.9986338797814208,
      "realized_annual_volatility_pct": 51.90222202926068,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11865.094355006779,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 24796.918920736756,
      "return_pct": 147.96918920736758,
      "cagr_pct": 147.61037723452444,
      "max_drawdown_pct": 37.90871175038595,
      "mean_exposure_while_solvent": 1.2482274821010093,
      "realized_annual_volatility_pct": 64.94499922788924,
      "trading_costs_quote_units": 29.167927021745157,
      "borrowing_costs_quote_units": 415.37752032646137,
      "price_pnl_quote_units": 15241.46436808491,
      "turnover_quote_units": 48613.21170290865,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27624.5312800818,
      "return_pct": 176.245312800818,
      "cagr_pct": 175.79809274640238,
      "max_drawdown_pct": 45.399658481841584,
      "mean_exposure_while_solvent": 1.4978660452593358,
      "realized_annual_volatility_pct": 78.03024704385498,
      "trading_costs_quote_units": 64.7088055874664,
      "borrowing_costs_quote_units": 889.04089681043,
      "price_pnl_quote_units": 18578.28098247966,
      "turnover_quote_units": 107848.00931244402,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21489.724168734047,
      "return_pct": 114.89724168734048,
      "cagr_pct": 114.63526952443152,
      "max_drawdown_pct": 25.970842655626804,
      "mean_exposure_while_solvent": 0.826027395406305,
      "realized_annual_volatility_pct": 42.81468678527502,
      "trading_costs_quote_units": 65.65823346709422,
      "borrowing_costs_quote_units": 41.779099587375185,
      "price_pnl_quote_units": 11597.161501788503,
      "turnover_quote_units": 109430.38911182375,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 27214.295869469453,
      "return_pct": 172.14295869469453,
      "cagr_pct": 171.70886213067553,
      "max_drawdown_pct": 37.611325591368185,
      "mean_exposure_while_solvent": 1.218494931927336,
      "realized_annual_volatility_pct": 63.150935706870726,
      "trading_costs_quote_units": 99.03115731440309,
      "borrowing_costs_quote_units": 776.8989660917741,
      "price_pnl_quote_units": 18090.22599287565,
      "turnover_quote_units": 165051.92885733844,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26850.77067851124,
      "return_pct": 168.5077067851124,
      "cagr_pct": 168.08515734781858,
      "max_drawdown_pct": 45.334966687883735,
      "mean_exposure_while_solvent": 1.4331273538419294,
      "realized_annual_volatility_pct": 74.38932936787799,
      "trading_costs_quote_units": 80.18929470553458,
      "borrowing_costs_quote_units": 1521.199096189339,
      "price_pnl_quote_units": 18452.15906940611,
      "turnover_quote_units": 133648.82450922427,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 24543.265029726568,
      "return_pct": 145.4326502972657,
      "cagr_pct": 145.08152674993536,
      "max_drawdown_pct": 42.110897823809665,
      "mean_exposure_while_solvent": 1.223209570813891,
      "realized_annual_volatility_pct": 62.85658936993643,
      "trading_costs_quote_units": 139.63176243882342,
      "borrowing_costs_quote_units": 815.6868857982702,
      "price_pnl_quote_units": 15498.58367796364,
      "turnover_quote_units": 232719.6040647054,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26549.377652468735,
      "return_pct": 165.49377652468732,
      "cagr_pct": 165.0807413571588,
      "max_drawdown_pct": 39.69731136007084,
      "mean_exposure_while_solvent": 1.2180237014090427,
      "realized_annual_volatility_pct": 64.1032226779438,
      "trading_costs_quote_units": 61.08711613496743,
      "borrowing_costs_quote_units": 743.3233006780061,
      "price_pnl_quote_units": 17353.78806928164,
      "turnover_quote_units": 101811.8602249458,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21935.535310690077,
      "return_pct": 119.35535310690075,
      "cagr_pct": 119.08077328451525,
      "max_drawdown_pct": 30.259596277389058,
      "mean_exposure_while_solvent": 0.9846312449128017,
      "realized_annual_volatility_pct": 51.12558275934474,
      "trading_costs_quote_units": 14.3611501602572,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11949.896460850327,
      "turnover_quote_units": 23935.250267095333,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 65,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 18431.700928039587,
      "return_pct": 84.31700928039587,
      "cagr_pct": 84.13738111691971,
      "max_drawdown_pct": 22.588310694544113,
      "mean_exposure_while_solvent": 0.749070986055657,
      "realized_annual_volatility_pct": 38.89553171758418,
      "trading_costs_quote_units": 15.425551692717764,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8447.1264797323,
      "turnover_quote_units": 25709.252821196304,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21859.09795284808,
      "return_pct": 118.59097952848079,
      "cagr_pct": 118.31857169010544,
      "max_drawdown_pct": 30.0060914059914,
      "mean_exposure_while_solvent": 0.9986338797814208,
      "realized_annual_volatility_pct": 51.90222202926068,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11865.094355006779,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 24185.480730277115,
      "return_pct": 141.85480730277112,
      "cagr_pct": 141.514457495126,
      "max_drawdown_pct": 38.52313567104345,
      "mean_exposure_while_solvent": 1.248263027591343,
      "realized_annual_volatility_pct": 64.94717216602444,
      "trading_costs_quote_units": 28.849853393732072,
      "borrowing_costs_quote_units": 819.5127042345121,
      "price_pnl_quote_units": 15033.843287905316,
      "turnover_quote_units": 48083.08898955349,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26279.001788540612,
      "return_pct": 162.79001788540612,
      "cagr_pct": 162.38547158850972,
      "max_drawdown_pct": 46.476231629523376,
      "mean_exposure_while_solvent": 1.4979513838588139,
      "realized_annual_volatility_pct": 78.03550108163151,
      "trading_costs_quote_units": 63.14290850582895,
      "borrowing_costs_quote_units": 1729.7753032090252,
      "price_pnl_quote_units": 18071.920000255428,
      "turnover_quote_units": 105238.1808430483,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21058.94827899282,
      "return_pct": 110.58948278992817,
      "cagr_pct": 110.33955340845583,
      "max_drawdown_pct": 26.123286902143327,
      "mean_exposure_while_solvent": 0.8268193289142086,
      "realized_annual_volatility_pct": 42.65062887000031,
      "trading_costs_quote_units": 323.6657288368091,
      "borrowing_costs_quote_units": 10.27890526201698,
      "price_pnl_quote_units": 11392.892913091635,
      "turnover_quote_units": 107888.57627893618,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 27404.698384904594,
      "return_pct": 174.04698384904594,
      "cagr_pct": 173.6068084148091,
      "max_drawdown_pct": 37.03486189686842,
      "mean_exposure_while_solvent": 1.2194995133764206,
      "realized_annual_volatility_pct": 62.8837074040792,
      "trading_costs_quote_units": 489.80013949396,
      "borrowing_costs_quote_units": 194.63774472367672,
      "price_pnl_quote_units": 18089.136269122213,
      "turnover_quote_units": 163266.7131646531,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 28326.47470057015,
      "return_pct": 183.2647470057015,
      "cagr_pct": 182.79484786384322,
      "max_drawdown_pct": 44.07186084425331,
      "mean_exposure_while_solvent": 1.4341910237636968,
      "realized_annual_volatility_pct": 74.30401660864213,
      "trading_costs_quote_units": 415.81676340082106,
      "borrowing_costs_quote_units": 391.6459824999146,
      "price_pnl_quote_units": 19133.937446470874,
      "turnover_quote_units": 138605.58780027364,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 24137.71320893333,
      "return_pct": 141.37713208933334,
      "cagr_pct": 141.0382143360438,
      "max_drawdown_pct": 41.8133899554998,
      "mean_exposure_while_solvent": 1.2241411074373247,
      "realized_annual_volatility_pct": 62.60774753316538,
      "trading_costs_quote_units": 683.9553920269512,
      "borrowing_costs_quote_units": 201.4235149204524,
      "price_pnl_quote_units": 15023.092115880767,
      "turnover_quote_units": 227985.1306756502,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 26995.960330799047,
      "return_pct": 169.95960330799048,
      "cagr_pct": 169.5324513454635,
      "max_drawdown_pct": 39.26909863340301,
      "mean_exposure_while_solvent": 1.2188963607427332,
      "realized_annual_volatility_pct": 63.93252194289989,
      "trading_costs_quote_units": 311.5334154519274,
      "borrowing_costs_quote_units": 187.22145510846798,
      "price_pnl_quote_units": 17494.71520135945,
      "turnover_quote_units": 103844.47181730914,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21923.181947616693,
      "return_pct": 119.23181947616692,
      "cagr_pct": 118.957590964561,
      "max_drawdown_pct": 30.489072817154238,
      "mean_exposure_while_solvent": 0.9855656254569883,
      "realized_annual_volatility_pct": 51.13266318364583,
      "trading_costs_quote_units": 71.57869131618675,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11994.76063893286,
      "turnover_quote_units": 23859.563772062254,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 65,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 18428.135420305443,
      "return_pct": 84.28135420305442,
      "cagr_pct": 84.10181757993142,
      "max_drawdown_pct": 22.745020690804218,
      "mean_exposure_while_solvent": 0.7498259337005607,
      "realized_annual_volatility_pct": 38.907286676935335,
      "trading_costs_quote_units": 79.4240068138085,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8507.559427119233,
      "turnover_quote_units": 26474.66893793615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 21955.921512900164,
      "return_pct": 119.55921512900164,
      "cagr_pct": 119.28405531229362,
      "max_drawdown_pct": 30.0060914059914,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 51.905275201639725,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11985.831782092591,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 25124.328708628458,
      "return_pct": 151.2432870862846,
      "cagr_pct": 150.87449017292977,
      "max_drawdown_pct": 37.66479777519154,
      "mean_exposure_while_solvent": 1.2492137975426003,
      "realized_annual_volatility_pct": 64.93373641779895,
      "trading_costs_quote_units": 150.78365827730664,
      "borrowing_costs_quote_units": 209.4627213509602,
      "price_pnl_quote_units": 15484.575088256737,
      "turnover_quote_units": 50261.21942576882,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 28188.699041521788,
      "return_pct": 181.88699041521787,
      "cagr_pct": 181.42156469133832,
      "max_drawdown_pct": 44.97775672984389,
      "mean_exposure_while_solvent": 1.4988492793488444,
      "realized_annual_volatility_pct": 77.99826056728631,
      "trading_costs_quote_units": 336.6961329174739,
      "borrowing_costs_quote_units": 449.4013223147873,
      "price_pnl_quote_units": 18974.796496754007,
      "turnover_quote_units": 112232.04430582451,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 21044.766401438785,
      "return_pct": 110.44766401438784,
      "cagr_pct": 110.19812873503324,
      "max_drawdown_pct": 26.13299426707044,
      "mean_exposure_while_solvent": 0.8268202181997787,
      "realized_annual_volatility_pct": 42.650632771828185,
      "trading_costs_quote_units": 323.5915905891218,
      "borrowing_costs_quote_units": 20.55205201627012,
      "price_pnl_quote_units": 11388.91004404416,
      "turnover_quote_units": 107863.86352970725,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27086.21450130491,
      "return_pct": 170.86214501304912,
      "cagr_pct": 170.4321257250657,
      "max_drawdown_pct": 37.29305605016629,
      "mean_exposure_while_solvent": 1.2195178842173509,
      "realized_annual_volatility_pct": 62.88457476969237,
      "trading_costs_quote_units": 486.83141245309605,
      "borrowing_costs_quote_units": 386.75751652917694,
      "price_pnl_quote_units": 17959.803430287193,
      "turnover_quote_units": 162277.1374843652,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27717.37647319129,
      "return_pct": 177.17376473191288,
      "cagr_pct": 176.7235610571189,
      "max_drawdown_pct": 44.5378330272392,
      "mean_exposure_while_solvent": 1.4342272229247512,
      "realized_annual_volatility_pct": 74.30664656609636,
      "trading_costs_quote_units": 411.36351579115063,
      "borrowing_costs_quote_units": 773.7710451846809,
      "price_pnl_quote_units": 18902.51103416708,
      "turnover_quote_units": 137121.17193038348,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 23837.807722178244,
      "return_pct": 138.37807722178246,
      "cagr_pct": 138.04811607764555,
      "max_drawdown_pct": 42.07779289102482,
      "mean_exposure_while_solvent": 1.2241609587223694,
      "realized_annual_volatility_pct": 62.609122265321005,
      "trading_costs_quote_units": 679.5723063445785,
      "borrowing_costs_quote_units": 400.16824697864837,
      "price_pnl_quote_units": 14917.548275501478,
      "turnover_quote_units": 226524.1021148594,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 26698.337980658467,
      "return_pct": 166.98337980658468,
      "cagr_pct": 166.56564907038705,
      "max_drawdown_pct": 39.487613919815466,
      "mean_exposure_while_solvent": 1.2189133405864259,
      "realized_annual_volatility_pct": 63.933531568303245,
      "trading_costs_quote_units": 309.7623271142082,
      "borrowing_costs_quote_units": 372.0791193156978,
      "price_pnl_quote_units": 17380.179427088337,
      "turnover_quote_units": 103254.10903806936,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 21923.181947616693,
      "return_pct": 119.23181947616692,
      "cagr_pct": 118.957590964561,
      "max_drawdown_pct": 30.489072817154238,
      "mean_exposure_while_solvent": 0.9855656254569883,
      "realized_annual_volatility_pct": 51.13266318364583,
      "trading_costs_quote_units": 71.57869131618675,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11994.76063893286,
      "turnover_quote_units": 23859.563772062254,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 65,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 18428.135420305443,
      "return_pct": 84.28135420305442,
      "cagr_pct": 84.10181757993142,
      "max_drawdown_pct": 22.745020690804218,
      "mean_exposure_while_solvent": 0.7498259337005607,
      "realized_annual_volatility_pct": 38.907286676935335,
      "trading_costs_quote_units": 79.4240068138085,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8507.559427119233,
      "turnover_quote_units": 26474.66893793615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 21955.921512900164,
      "return_pct": 119.55921512900164,
      "cagr_pct": 119.28405531229362,
      "max_drawdown_pct": 30.0060914059914,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 51.905275201639725,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11985.831782092591,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 24812.442851664542,
      "return_pct": 148.12442851664542,
      "cagr_pct": 147.7651446589182,
      "max_drawdown_pct": 37.97385394517679,
      "mean_exposure_while_solvent": 1.249231583388223,
      "realized_annual_volatility_pct": 64.93511684993747,
      "trading_costs_quote_units": 150.00352755768088,
      "borrowing_costs_quote_units": 416.07084291189676,
      "price_pnl_quote_units": 15378.517222134156,
      "turnover_quote_units": 50001.175852560285,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 27493.213008233397,
      "return_pct": 174.93213008233397,
      "cagr_pct": 174.4891215249245,
      "max_drawdown_pct": 45.52262752552484,
      "mean_exposure_while_solvent": 1.4988919634733127,
      "realized_annual_volatility_pct": 78.00158898296205,
      "trading_costs_quote_units": 332.74609531905605,
      "borrowing_costs_quote_units": 886.4385699575977,
      "price_pnl_quote_units": 18712.39767351003,
      "turnover_quote_units": 110915.36510635208,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 21016.42555819115,
      "return_pct": 110.16425558191148,
      "cagr_pct": 109.91550741470255,
      "max_drawdown_pct": 26.152408755933433,
      "mean_exposure_while_solvent": 0.8268219970036936,
      "realized_annual_volatility_pct": 42.650642031340006,
      "trading_costs_quote_units": 323.4434017669859,
      "borrowing_costs_quote_units": 41.08107871387656,
      "price_pnl_quote_units": 11380.950038672003,
      "turnover_quote_units": 107814.46725566199,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26460.14118635808,
      "return_pct": 164.60141186358078,
      "cagr_pct": 164.1911832744282,
      "max_drawdown_pct": 37.80639919336502,
      "mean_exposure_while_solvent": 1.219554632843889,
      "realized_annual_volatility_pct": 62.886327872360425,
      "trading_costs_quote_units": 480.97241808021175,
      "borrowing_costs_quote_units": 763.5636100981374,
      "price_pnl_quote_units": 17704.677214536434,
      "turnover_quote_units": 160324.13936007067,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26537.83424822663,
      "return_pct": 165.3783424822663,
      "cagr_pct": 164.96567063545064,
      "max_drawdown_pct": 45.45840398118893,
      "mean_exposure_while_solvent": 1.434299636311212,
      "realized_annual_volatility_pct": 74.31191413059618,
      "trading_costs_quote_units": 402.6833199676778,
      "borrowing_costs_quote_units": 1510.319386648552,
      "price_pnl_quote_units": 18450.836954842882,
      "turnover_quote_units": 134227.77332255937,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 23248.955073688154,
      "return_pct": 132.48955073688157,
      "cagr_pct": 132.17700030838557,
      "max_drawdown_pct": 42.60313095295495,
      "mean_exposure_while_solvent": 1.2242006689512102,
      "realized_annual_volatility_pct": 62.61189293956362,
      "trading_costs_quote_units": 670.9376602592276,
      "borrowing_costs_quote_units": 789.7553083726632,
      "price_pnl_quote_units": 14709.648042320074,
      "turnover_quote_units": 223645.88675307602,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26112.760834172812,
      "return_pct": 161.12760834172812,
      "cagr_pct": 160.7282595149706,
      "max_drawdown_pct": 39.922391776118985,
      "mean_exposure_while_solvent": 1.2189473063797491,
      "realized_annual_volatility_pct": 63.935565923719295,
      "trading_costs_quote_units": 306.2616076374548,
      "borrowing_costs_quote_units": 734.8124273708514,
      "price_pnl_quote_units": 17153.834869181115,
      "turnover_quote_units": 102087.20254581829,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 21923.181947616693,
      "return_pct": 119.23181947616692,
      "cagr_pct": 118.957590964561,
      "max_drawdown_pct": 30.489072817154238,
      "mean_exposure_while_solvent": 0.9855656254569883,
      "realized_annual_volatility_pct": 51.13266318364583,
      "trading_costs_quote_units": 71.57869131618675,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11994.76063893286,
      "turnover_quote_units": 23859.563772062254,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 65,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 18428.135420305443,
      "return_pct": 84.28135420305442,
      "cagr_pct": 84.10181757993142,
      "max_drawdown_pct": 22.745020690804218,
      "mean_exposure_while_solvent": 0.7498259337005607,
      "realized_annual_volatility_pct": 38.907286676935335,
      "trading_costs_quote_units": 79.4240068138085,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8507.559427119233,
      "turnover_quote_units": 26474.66893793615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 21955.921512900164,
      "return_pct": 119.55921512900164,
      "cagr_pct": 119.28405531229362,
      "max_drawdown_pct": 30.0060914059914,
      "mean_exposure_while_solvent": 0.9995446265938069,
      "realized_annual_volatility_pct": 51.905275201639725,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11985.831782092591,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 24200.075937708603,
      "return_pct": 142.00075937708604,
      "cagr_pct": 141.65997171071015,
      "max_drawdown_pct": 38.587512968662,
      "mean_exposure_while_solvent": 1.2492671605547705,
      "realized_annual_volatility_pct": 64.93787891328121,
      "trading_costs_quote_units": 148.4798314587854,
      "borrowing_costs_quote_units": 820.8694038560619,
      "price_pnl_quote_units": 15169.425173023517,
      "turnover_quote_units": 49493.27715292847,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 26152.86625994662,
      "return_pct": 161.52866259946617,
      "cagr_pct": 161.12806142507264,
      "max_drawdown_pct": 46.59652721095079,
      "mean_exposure_while_solvent": 1.4989773502226176,
      "realized_annual_volatility_pct": 78.00824930743894,
      "trading_costs_quote_units": 325.08838935491355,
      "borrowing_costs_quote_units": 1724.6976263140193,
      "price_pnl_quote_units": 18202.65227561559,
      "turnover_quote_units": 108362.79645163797,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21150.29180530445,
      "return_pct": 111.50291805304451,
      "cagr_pct": 111.2504466792887,
      "max_drawdown_pct": 26.1492423870318,
      "mean_exposure_while_solvent": 0.8260247365670924,
      "realized_annual_volatility_pct": 42.81617377857151,
      "trading_costs_quote_units": 325.26409669204537,
      "borrowing_costs_quote_units": 10.313495668125311,
      "price_pnl_quote_units": 11485.869397664634,
      "turnover_quote_units": 108421.36556401536,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 27518.95574003008,
      "return_pct": 175.1895574003008,
      "cagr_pct": 174.7457240340604,
      "max_drawdown_pct": 37.30776476474372,
      "mean_exposure_while_solvent": 1.218439842016336,
      "realized_annual_volatility_pct": 63.15259129752449,
      "trading_costs_quote_units": 497.1014139822107,
      "borrowing_costs_quote_units": 195.07997015332884,
      "price_pnl_quote_units": 18211.137124165558,
      "turnover_quote_units": 165700.4713274037,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 28104.157991773005,
      "return_pct": 181.04157991773008,
      "cagr_pct": 180.57889384975567,
      "max_drawdown_pct": 44.326330128920155,
      "mean_exposure_while_solvent": 1.433018870091291,
      "realized_annual_volatility_pct": 74.38968384353663,
      "trading_costs_quote_units": 409.4502299508474,
      "borrowing_costs_quote_units": 389.4690440668374,
      "price_pnl_quote_units": 18903.07726579065,
      "turnover_quote_units": 136483.40998361565,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 24639.315215934654,
      "return_pct": 146.39315215934653,
      "cagr_pct": 146.03912214354722,
      "max_drawdown_pct": 41.926006220322655,
      "mean_exposure_while_solvent": 1.223150028032313,
      "realized_annual_volatility_pct": 62.857454378166,
      "trading_costs_quote_units": 698.4358354608411,
      "borrowing_costs_quote_units": 203.94433717747953,
      "price_pnl_quote_units": 15541.695388573002,
      "turnover_quote_units": 232811.94515361352,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 27013.111307094136,
      "return_pct": 170.13111307094135,
      "cagr_pct": 169.70341659992658,
      "max_drawdown_pct": 39.33113246400816,
      "mean_exposure_while_solvent": 1.2179727525401982,
      "realized_annual_volatility_pct": 64.10422004367503,
      "trading_costs_quote_units": 307.6469135743712,
      "borrowing_costs_quote_units": 187.40319175889252,
      "price_pnl_quote_units": 17508.1614124274,
      "turnover_quote_units": 102548.97119145704,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21833.63808919725,
      "return_pct": 118.3363808919725,
      "cagr_pct": 118.06469555831885,
      "max_drawdown_pct": 30.345008721811194,
      "mean_exposure_while_solvent": 0.9846312449128017,
      "realized_annual_volatility_pct": 51.12709742885594,
      "trading_costs_quote_units": 71.58841990465169,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11905.226509101904,
      "turnover_quote_units": 23862.806634883895,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 65,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 18340.979157232272,
      "return_pct": 83.40979157232272,
      "cagr_pct": 83.2324891698281,
      "max_drawdown_pct": 22.689175140484117,
      "mean_exposure_while_solvent": 0.749070986055657,
      "realized_annual_volatility_pct": 38.89714103598526,
      "trading_costs_quote_units": 76.90962705550152,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8417.888784287763,
      "turnover_quote_units": 25636.54235183382,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 21806.79303252222,
      "return_pct": 118.0679303252222,
      "cagr_pct": 117.79700629427299,
      "max_drawdown_pct": 30.0060914059914,
      "mean_exposure_while_solvent": 0.9986338797814208,
      "realized_annual_volatility_pct": 51.90321484673014,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11836.70330171462,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 24902.826466333914,
      "return_pct": 149.02826466333914,
      "cagr_pct": 148.66623032853283,
      "max_drawdown_pct": 37.73609115798037,
      "mean_exposure_while_solvent": 1.24820971209036,
      "realized_annual_volatility_pct": 64.9469289417953,
      "trading_costs_quote_units": 145.8688128069132,
      "borrowing_costs_quote_units": 207.8768450066965,
      "price_pnl_quote_units": 15256.57212414748,
      "turnover_quote_units": 48622.93760230442,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 27869.15197208406,
      "return_pct": 178.6915197208406,
      "cagr_pct": 178.2364280373185,
      "max_drawdown_pct": 45.144820550645136,
      "mean_exposure_while_solvent": 1.4978233852044969,
      "realized_annual_volatility_pct": 78.03383780868936,
      "trading_costs_quote_units": 324.3537735113205,
      "borrowing_costs_quote_units": 445.92275133508065,
      "price_pnl_quote_units": 18639.428496930468,
      "turnover_quote_units": 108117.9245037736,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21136.05070996697,
      "return_pct": 111.36050709966972,
      "cagr_pct": 111.1084324537491,
      "max_drawdown_pct": 26.15895154737369,
      "mean_exposure_while_solvent": 0.8260256227696449,
      "realized_annual_volatility_pct": 42.816145130678926,
      "trading_costs_quote_units": 325.1893783300832,
      "borrowing_costs_quote_units": 20.621204721495147,
      "price_pnl_quote_units": 11481.861293018548,
      "turnover_quote_units": 108396.45944336106,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27199.253332323,
      "return_pct": 171.99253332323002,
      "cagr_pct": 171.55891611298975,
      "max_drawdown_pct": 37.56435754628006,
      "mean_exposure_while_solvent": 1.2184582030055087,
      "realized_annual_volatility_pct": 63.15313539498369,
      "trading_costs_quote_units": 494.1448213537084,
      "borrowing_costs_quote_units": 387.6323630276809,
      "price_pnl_quote_units": 18081.030516704388,
      "turnover_quote_units": 164714.94045123606,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27500.511138576567,
      "return_pct": 175.00511138576567,
      "cagr_pct": 174.56186903183664,
      "max_drawdown_pct": 44.78999137464488,
      "mean_exposure_while_solvent": 1.433055026327157,
      "realized_annual_volatility_pct": 74.39174749411734,
      "trading_costs_quote_units": 405.0033657811377,
      "borrowing_costs_quote_units": 769.4901053530448,
      "price_pnl_quote_units": 18675.004609710744,
      "turnover_quote_units": 135001.12192704587,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 24333.279165983568,
      "return_pct": 143.33279165983566,
      "cagr_pct": 142.9880014178198,
      "max_drawdown_pct": 42.189770925177875,
      "mean_exposure_while_solvent": 1.2231698730741258,
      "realized_annual_volatility_pct": 62.85837936141097,
      "trading_costs_quote_units": 693.989408781407,
      "borrowing_costs_quote_units": 405.1735117622024,
      "price_pnl_quote_units": 15432.442086527213,
      "turnover_quote_units": 231329.8029271356,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 26715.405264115543,
      "return_pct": 167.1540526411554,
      "cagr_pct": 166.73578306042117,
      "max_drawdown_pct": 39.54921340450511,
      "mean_exposure_while_solvent": 1.2179897334599663,
      "realized_annual_volatility_pct": 64.10486581717433,
      "trading_costs_quote_units": 305.9458459403253,
      "borrowing_costs_quote_units": 372.43909758718263,
      "price_pnl_quote_units": 17393.790207643076,
      "turnover_quote_units": 101981.94864677502,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21833.63808919725,
      "return_pct": 118.3363808919725,
      "cagr_pct": 118.06469555831885,
      "max_drawdown_pct": 30.345008721811194,
      "mean_exposure_while_solvent": 0.9846312449128017,
      "realized_annual_volatility_pct": 51.12709742885594,
      "trading_costs_quote_units": 71.58841990465169,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11905.226509101904,
      "turnover_quote_units": 23862.806634883895,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 65,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 18340.979157232272,
      "return_pct": 83.40979157232272,
      "cagr_pct": 83.2324891698281,
      "max_drawdown_pct": 22.689175140484117,
      "mean_exposure_while_solvent": 0.749070986055657,
      "realized_annual_volatility_pct": 38.89714103598526,
      "trading_costs_quote_units": 76.90962705550152,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8417.888784287763,
      "turnover_quote_units": 25636.54235183382,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 21806.79303252222,
      "return_pct": 118.0679303252222,
      "cagr_pct": 117.79700629427299,
      "max_drawdown_pct": 30.0060914059914,
      "mean_exposure_while_solvent": 0.9986338797814208,
      "realized_annual_volatility_pct": 51.90321484673014,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11836.70330171462,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 24594.016834466343,
      "return_pct": 145.94016834466342,
      "cagr_pct": 145.587509796154,
      "max_drawdown_pct": 38.04482784240165,
      "mean_exposure_while_solvent": 1.2482274821010093,
      "realized_annual_volatility_pct": 64.9480273652848,
      "trading_costs_quote_units": 145.06498824570028,
      "borrowing_costs_quote_units": 412.92624020517894,
      "price_pnl_quote_units": 15152.008062917172,
      "turnover_quote_units": 48354.99608190007,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 27182.28522379924,
      "return_pct": 171.8228522379924,
      "cagr_pct": 171.38977558414163,
      "max_drawdown_pct": 45.68812953686449,
      "mean_exposure_while_solvent": 1.4978660452593358,
      "realized_annual_volatility_pct": 78.03649507691792,
      "trading_costs_quote_units": 320.3766011316728,
      "borrowing_costs_quote_units": 879.6060591502815,
      "price_pnl_quote_units": 18382.267884081077,
      "turnover_quote_units": 106792.20037722433,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21107.5915226598,
      "return_pct": 111.07591522659801,
      "cagr_pct": 110.82463293830722,
      "max_drawdown_pct": 26.178369624769427,
      "mean_exposure_while_solvent": 0.826027395406305,
      "realized_annual_volatility_pct": 42.81608931208745,
      "trading_costs_quote_units": 325.04003074561155,
      "borrowing_costs_quote_units": 41.21927173788342,
      "price_pnl_quote_units": 11473.850825143294,
      "turnover_quote_units": 108346.67691520382,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26570.764934865714,
      "return_pct": 165.70764934865716,
      "cagr_pct": 165.2939408203124,
      "max_drawdown_pct": 38.07452300254137,
      "mean_exposure_while_solvent": 1.218494931927336,
      "realized_annual_volatility_pct": 63.15424267332192,
      "trading_costs_quote_units": 488.3230374295716,
      "borrowing_costs_quote_units": 765.2755428865881,
      "price_pnl_quote_units": 17824.363515181925,
      "turnover_quote_units": 162774.3458098573,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26331.47761560801,
      "return_pct": 163.31477615608011,
      "cagr_pct": 162.90858574308538,
      "max_drawdown_pct": 45.706033528617276,
      "mean_exposure_while_solvent": 1.4331273538419294,
      "realized_annual_volatility_pct": 74.39588194689047,
      "trading_costs_quote_units": 396.3570016799735,
      "borrowing_costs_quote_units": 1502.0416576216344,
      "price_pnl_quote_units": 18229.87627490959,
      "turnover_quote_units": 132119.00055999117,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 23732.38941831859,
      "return_pct": 137.3238941831859,
      "cagr_pct": 136.99706712301665,
      "max_drawdown_pct": 42.713842733140275,
      "mean_exposure_while_solvent": 1.223209570813891,
      "realized_annual_volatility_pct": 62.86024971740968,
      "trading_costs_quote_units": 685.2285732715155,
      "borrowing_costs_quote_units": 799.622217409475,
      "price_pnl_quote_units": 15217.240208999596,
      "turnover_quote_units": 228409.52442383856,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 26129.621686187515,
      "return_pct": 161.29621686187514,
      "cagr_pct": 160.89634165079008,
      "max_drawdown_pct": 39.9831296473939,
      "mean_exposure_while_solvent": 1.2180237014090427,
      "realized_annual_volatility_pct": 64.10617223373596,
      "trading_costs_quote_units": 302.6048553700851,
      "borrowing_costs_quote_units": 735.5180274646556,
      "price_pnl_quote_units": 17167.744569022285,
      "turnover_quote_units": 100868.28512336165,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21833.63808919725,
      "return_pct": 118.3363808919725,
      "cagr_pct": 118.06469555831885,
      "max_drawdown_pct": 30.345008721811194,
      "mean_exposure_while_solvent": 0.9846312449128017,
      "realized_annual_volatility_pct": 51.12709742885594,
      "trading_costs_quote_units": 71.58841990465169,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11905.226509101904,
      "turnover_quote_units": 23862.806634883895,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 65,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 18340.979157232272,
      "return_pct": 83.40979157232272,
      "cagr_pct": 83.2324891698281,
      "max_drawdown_pct": 22.689175140484117,
      "mean_exposure_while_solvent": 0.749070986055657,
      "realized_annual_volatility_pct": 38.89714103598526,
      "trading_costs_quote_units": 76.90962705550152,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 8417.888784287763,
      "turnover_quote_units": 25636.54235183382,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 21806.79303252222,
      "return_pct": 118.0679303252222,
      "cagr_pct": 117.79700629427299,
      "max_drawdown_pct": 30.0060914059914,
      "mean_exposure_while_solvent": 0.9986338797814208,
      "realized_annual_volatility_pct": 51.90321484673014,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 11836.70330171462,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 23987.689237051643,
      "return_pct": 139.87689237051643,
      "cagr_pct": 139.54246250023738,
      "max_drawdown_pct": 38.65786701688072,
      "mean_exposure_while_solvent": 1.248263027591343,
      "realized_annual_volatility_pct": 64.95022482107778,
      "trading_costs_quote_units": 143.4903607858638,
      "borrowing_costs_quote_units": 814.6874510456374,
      "price_pnl_quote_units": 14945.867048883201,
      "turnover_quote_units": 47830.12026195458,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2024",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 25858.525662400614,
      "return_pct": 158.58525662400615,
      "cagr_pct": 158.19382380494167,
      "max_drawdown_pct": 46.7589796191898,
      "mean_exposure_while_solvent": 1.4979513838588139,
      "realized_annual_volatility_pct": 78.04181161317186,
      "trading_costs_quote_units": 312.66144927638436,
      "borrowing_costs_quote_units": 1711.517340229537,
      "price_pnl_quote_units": 17882.70445190661,
      "turnover_quote_units": 104220.48309212818,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 366,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8869.380876303736,
      "return_pct": -11.306191236962636,
      "cagr_pct": -11.318343775672817,
      "max_drawdown_pct": 38.46675532375413,
      "mean_exposure_while_solvent": 0.9911773163527893,
      "realized_annual_volatility_pct": 41.61963734131553,
      "trading_costs_quote_units": 48.27944047980059,
      "borrowing_costs_quote_units": 65.74151234464051,
      "price_pnl_quote_units": -1016.5981708718308,
      "turnover_quote_units": 80465.73413300097,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9175.482750797728,
      "return_pct": -8.245172492022723,
      "cagr_pct": -8.254189306446506,
      "max_drawdown_pct": 38.804212157579855,
      "mean_exposure_while_solvent": 1.2789272680553831,
      "realized_annual_volatility_pct": 54.659400506636146,
      "trading_costs_quote_units": 43.9591722470249,
      "borrowing_costs_quote_units": 166.53332146181376,
      "price_pnl_quote_units": -614.0247554934668,
      "turnover_quote_units": 73265.28707837482,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9393.513006847232,
      "return_pct": -6.064869931527683,
      "cagr_pct": -6.071581799583986,
      "max_drawdown_pct": 42.869922082074886,
      "mean_exposure_while_solvent": 1.4240312815744247,
      "realized_annual_volatility_pct": 63.146431609376705,
      "trading_costs_quote_units": 44.065267078754765,
      "borrowing_costs_quote_units": 236.89508743155776,
      "price_pnl_quote_units": -325.5266386424402,
      "turnover_quote_units": 73442.11179792455,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8663.161669455902,
      "return_pct": -13.36838330544099,
      "cagr_pct": -13.38258052061072,
      "max_drawdown_pct": 41.68372629586399,
      "mean_exposure_while_solvent": 1.3183800247726039,
      "realized_annual_volatility_pct": 55.8921050394859,
      "trading_costs_quote_units": 64.68204601507574,
      "borrowing_costs_quote_units": 186.66070817067728,
      "price_pnl_quote_units": -1085.4955763583346,
      "turnover_quote_units": 107803.41002512616,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9287.55184486432,
      "return_pct": -7.124481551356798,
      "cagr_pct": -7.132320917753712,
      "max_drawdown_pct": 38.64504793770699,
      "mean_exposure_while_solvent": 1.2442358707417895,
      "realized_annual_volatility_pct": 52.86075189497902,
      "trading_costs_quote_units": 32.781444483752765,
      "borrowing_costs_quote_units": 147.62954271734773,
      "price_pnl_quote_units": -532.037167934581,
      "turnover_quote_units": 54635.74080625458,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9340.947084857,
      "return_pct": -6.590529151430003,
      "cagr_pct": -6.597802074143945,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9913336631543913,
      "realized_annual_volatility_pct": 44.15682270231324,
      "trading_costs_quote_units": 8.220178303014944,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -650.8327368399836,
      "turnover_quote_units": 13700.297171691578,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9667.250380889795,
      "return_pct": -3.327496191102053,
      "cagr_pct": -3.3312324260784627,
      "max_drawdown_pct": 26.981760328112582,
      "mean_exposure_while_solvent": 0.7496311357583844,
      "realized_annual_volatility_pct": 33.38311736904915,
      "trading_costs_quote_units": 11.308500913311375,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -321.4411181968828,
      "turnover_quote_units": 18847.50152218565,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9354.573009442262,
      "return_pct": -6.454269905577381,
      "cagr_pct": -6.461397717931254,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9995431703974418,
      "realized_annual_volatility_pct": 44.51319819933993,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -639.4305883990288,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8823.94116225742,
      "return_pct": -11.760588377425796,
      "cagr_pct": -11.773196207197014,
      "max_drawdown_pct": 41.43838403117136,
      "mean_exposure_while_solvent": 1.2495229018991587,
      "realized_annual_volatility_pct": 55.65354264176311,
      "trading_costs_quote_units": 18.878761150495677,
      "borrowing_costs_quote_units": 135.61382058623917,
      "price_pnl_quote_units": -1021.5662560058483,
      "turnover_quote_units": 31464.60191749276,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8225.747613975189,
      "return_pct": -17.742523860248117,
      "cagr_pct": -17.76087059578597,
      "max_drawdown_pct": 47.76030564348998,
      "mean_exposure_while_solvent": 1.4995791297337795,
      "realized_annual_volatility_pct": 66.80705681448768,
      "trading_costs_quote_units": 36.041657202344595,
      "borrowing_costs_quote_units": 269.57228696236194,
      "price_pnl_quote_units": -1468.6384418600976,
      "turnover_quote_units": 60069.42867057431,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8820.267826110114,
      "return_pct": -11.797321738898859,
      "cagr_pct": -11.809966257612322,
      "max_drawdown_pct": 38.4987015360928,
      "mean_exposure_while_solvent": 0.991185577278182,
      "realized_annual_volatility_pct": 41.62009429363589,
      "trading_costs_quote_units": 48.18433277821087,
      "borrowing_costs_quote_units": 131.12416024633603,
      "price_pnl_quote_units": -1000.4236808653387,
      "turnover_quote_units": 80307.2212970181,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9044.577925924608,
      "return_pct": -9.554220740753916,
      "cagr_pct": -9.564593070245467,
      "max_drawdown_pct": 38.882645310292574,
      "mean_exposure_while_solvent": 1.278950865443485,
      "realized_annual_volatility_pct": 54.66050548207653,
      "trading_costs_quote_units": 43.73693894356323,
      "borrowing_costs_quote_units": 330.6749243919105,
      "price_pnl_quote_units": -581.0102107399147,
      "turnover_quote_units": 72894.89823927199,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9196.397329230182,
      "return_pct": -8.036026707698184,
      "cagr_pct": -8.044824966235211,
      "max_drawdown_pct": 43.09588899628886,
      "mean_exposure_while_solvent": 1.4240670810565816,
      "realized_annual_volatility_pct": 63.14836021083609,
      "trading_costs_quote_units": 43.691293555436495,
      "borrowing_costs_quote_units": 468.6985562477926,
      "price_pnl_quote_units": -291.212820966603,
      "turnover_quote_units": 72818.82259239418,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8518.82014748986,
      "return_pct": -14.811798525101405,
      "cagr_pct": -14.827393586313992,
      "max_drawdown_pct": 41.77089248054961,
      "mean_exposure_while_solvent": 1.318407948146514,
      "realized_annual_volatility_pct": 55.89375694724884,
      "trading_costs_quote_units": 64.24103225556595,
      "borrowing_costs_quote_units": 370.1667382321283,
      "price_pnl_quote_units": -1046.7720820224397,
      "turnover_quote_units": 107068.38709260993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9173.090164515534,
      "return_pct": -8.269098354844662,
      "cagr_pct": -8.278140136910393,
      "max_drawdown_pct": 38.72701868008582,
      "mean_exposure_while_solvent": 1.2442562290465453,
      "realized_annual_volatility_pct": 52.86155656666101,
      "trading_costs_quote_units": 32.63136160178057,
      "borrowing_costs_quote_units": 293.42000354789224,
      "price_pnl_quote_units": -500.85847033479916,
      "turnover_quote_units": 54385.60266963431,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9340.947084857,
      "return_pct": -6.590529151430003,
      "cagr_pct": -6.597802074143945,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9913336631543913,
      "realized_annual_volatility_pct": 44.15682270231324,
      "trading_costs_quote_units": 8.220178303014944,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -650.8327368399836,
      "turnover_quote_units": 13700.297171691578,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9667.250380889795,
      "return_pct": -3.327496191102053,
      "cagr_pct": -3.3312324260784627,
      "max_drawdown_pct": 26.981760328112582,
      "mean_exposure_while_solvent": 0.7496311357583844,
      "realized_annual_volatility_pct": 33.38311736904915,
      "trading_costs_quote_units": 11.308500913311375,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -321.4411181968828,
      "turnover_quote_units": 18847.50152218565,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9354.573009442262,
      "return_pct": -6.454269905577381,
      "cagr_pct": -6.461397717931254,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9995431703974418,
      "realized_annual_volatility_pct": 44.51319819933993,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -639.4305883990288,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8714.400346669872,
      "return_pct": -12.855996533301273,
      "cagr_pct": -12.869690902015051,
      "max_drawdown_pct": 41.53090888478152,
      "mean_exposure_while_solvent": 1.2495407203772941,
      "realized_annual_volatility_pct": 55.65470223862376,
      "trading_costs_quote_units": 18.81290270874526,
      "borrowing_costs_quote_units": 269.5323580277512,
      "price_pnl_quote_units": -997.2543925936459,
      "turnover_quote_units": 31354.837847908806,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8022.70766344088,
      "return_pct": -19.7729233655912,
      "cagr_pct": -19.79310670593833,
      "max_drawdown_pct": 47.925674179200115,
      "mean_exposure_while_solvent": 1.4996219181891395,
      "realized_annual_volatility_pct": 66.8098475840902,
      "trading_costs_quote_units": 35.72707315819643,
      "borrowing_costs_quote_units": 532.4190092438275,
      "price_pnl_quote_units": -1409.146254157063,
      "turnover_quote_units": 59545.12193032744,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8722.833468225086,
      "return_pct": -12.771665317749136,
      "cagr_pct": -12.785276594825262,
      "max_drawdown_pct": 38.56256037751984,
      "mean_exposure_while_solvent": 0.9912021019438396,
      "realized_annual_volatility_pct": 41.62102608538276,
      "trading_costs_quote_units": 47.99526041149564,
      "borrowing_costs_quote_units": 260.8203726481301,
      "price_pnl_quote_units": -968.350898715275,
      "turnover_quote_units": 79992.10068582608,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8788.276769247841,
      "return_pct": -12.117232307521586,
      "cagr_pct": -12.130195609765279,
      "max_drawdown_pct": 39.039253126106985,
      "mean_exposure_while_solvent": 1.2789980698595058,
      "realized_annual_volatility_pct": 54.66274325647612,
      "trading_costs_quote_units": 43.301491442388624,
      "borrowing_costs_quote_units": 651.91454967555,
      "price_pnl_quote_units": -516.5071896341992,
      "turnover_quote_units": 72169.15240398105,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8814.38535128965,
      "return_pct": -11.856146487103503,
      "cagr_pct": -11.86884972300056,
      "max_drawdown_pct": 43.5452620917731,
      "mean_exposure_while_solvent": 1.424138695216612,
      "realized_annual_volatility_pct": 63.15223130488927,
      "trading_costs_quote_units": 42.96205681489835,
      "borrowing_costs_quote_units": 917.4497778870547,
      "price_pnl_quote_units": -225.2028140084202,
      "turnover_quote_units": 71603.42802483062,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8237.237120445388,
      "return_pct": -17.627628795546112,
      "cagr_pct": -17.645869876235636,
      "max_drawdown_pct": 41.94487838838966,
      "mean_exposure_while_solvent": 1.318463806467503,
      "realized_annual_volatility_pct": 55.897085817828206,
      "trading_costs_quote_units": 63.377661871554324,
      "borrowing_costs_quote_units": 727.9183207798161,
      "price_pnl_quote_units": -971.4668969032264,
      "turnover_quote_units": 105629.43645259054,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8948.322918160247,
      "return_pct": -10.516770818397525,
      "cagr_pct": -10.528126063500755,
      "max_drawdown_pct": 38.890677169166274,
      "mean_exposure_while_solvent": 1.2442969539637023,
      "realized_annual_volatility_pct": 52.86319699858034,
      "trading_costs_quote_units": 32.33577138061611,
      "borrowing_costs_quote_units": 579.5715592181951,
      "price_pnl_quote_units": -439.7697512409263,
      "turnover_quote_units": 53892.95230102682,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9340.947084857,
      "return_pct": -6.590529151430003,
      "cagr_pct": -6.597802074143945,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9913336631543913,
      "realized_annual_volatility_pct": 44.15682270231324,
      "trading_costs_quote_units": 8.220178303014944,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -650.8327368399836,
      "turnover_quote_units": 13700.297171691578,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9667.250380889795,
      "return_pct": -3.327496191102053,
      "cagr_pct": -3.3312324260784627,
      "max_drawdown_pct": 26.981760328112582,
      "mean_exposure_while_solvent": 0.7496311357583844,
      "realized_annual_volatility_pct": 33.38311736904915,
      "trading_costs_quote_units": 11.308500913311375,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -321.4411181968828,
      "turnover_quote_units": 18847.50152218565,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9354.573009442262,
      "return_pct": -6.454269905577381,
      "cagr_pct": -6.461397717931254,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9995431703974418,
      "realized_annual_volatility_pct": 44.51319819933993,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -639.4305883990288,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8499.33281981523,
      "return_pct": -15.006671801847693,
      "cagr_pct": -15.022453452356652,
      "max_drawdown_pct": 41.71556132895857,
      "mean_exposure_while_solvent": 1.2495763628232295,
      "realized_annual_volatility_pct": 55.657021785626604,
      "trading_costs_quote_units": 18.684253590447174,
      "borrowing_costs_quote_units": 532.364938083962,
      "price_pnl_quote_units": -949.6179885103747,
      "turnover_quote_units": 31140.422650745295,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7631.431907138438,
      "return_pct": -23.685680928615614,
      "cagr_pct": -23.70923655793685,
      "max_drawdown_pct": 48.254932695404065,
      "mean_exposure_while_solvent": 1.4997075136691438,
      "realized_annual_volatility_pct": 66.81543046225832,
      "trading_costs_quote_units": 35.11624120341733,
      "borrowing_costs_quote_units": 1038.5800549964054,
      "price_pnl_quote_units": -1294.8717966617567,
      "turnover_quote_units": 58527.06867236215,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8833.572977644311,
      "return_pct": -11.664270223556883,
      "cagr_pct": -11.676781768647782,
      "max_drawdown_pct": 38.65646617746366,
      "mean_exposure_while_solvent": 0.9903771367917767,
      "realized_annual_volatility_pct": 41.60994806242153,
      "trading_costs_quote_units": 47.008367678810814,
      "borrowing_costs_quote_units": 65.45044010488328,
      "price_pnl_quote_units": -1053.968214571991,
      "turnover_quote_units": 78347.27946468476,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9164.517106444177,
      "return_pct": -8.354828935558235,
      "cagr_pct": -8.363960122486658,
      "max_drawdown_pct": 38.482266138192024,
      "mean_exposure_while_solvent": 1.2778344534327344,
      "realized_annual_volatility_pct": 54.69333998795641,
      "trading_costs_quote_units": 43.02261594186065,
      "borrowing_costs_quote_units": 164.74972513611934,
      "price_pnl_quote_units": -627.7105524778508,
      "turnover_quote_units": 71704.35990310108,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9442.855306529753,
      "return_pct": -5.5714469347024735,
      "cagr_pct": -5.5776290945394065,
      "max_drawdown_pct": 42.82439205690739,
      "mean_exposure_while_solvent": 1.4229056754404927,
      "realized_annual_volatility_pct": 63.2783666564679,
      "trading_costs_quote_units": 43.04393921086965,
      "borrowing_costs_quote_units": 235.20084858017427,
      "price_pnl_quote_units": -278.8999056791969,
      "turnover_quote_units": 71739.89868478272,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8644.016443405591,
      "return_pct": -13.55983556594409,
      "cagr_pct": -13.57421978065656,
      "max_drawdown_pct": 42.1132192099745,
      "mean_exposure_while_solvent": 1.317089561900826,
      "realized_annual_volatility_pct": 56.113294475612655,
      "trading_costs_quote_units": 63.34031106599375,
      "borrowing_costs_quote_units": 186.51326937650083,
      "price_pnl_quote_units": -1106.129976151917,
      "turnover_quote_units": 105567.18510998963,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9350.26485909809,
      "return_pct": -6.497351409019103,
      "cagr_pct": -6.504525125906474,
      "max_drawdown_pct": 38.1651401914319,
      "mean_exposure_while_solvent": 1.2431394325286937,
      "realized_annual_volatility_pct": 52.91210049065354,
      "trading_costs_quote_units": 32.087132583058875,
      "borrowing_costs_quote_units": 147.06752302962292,
      "price_pnl_quote_units": -470.580485289232,
      "turnover_quote_units": 53478.554305098194,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9300.173934399285,
      "return_pct": -6.998260656007149,
      "cagr_pct": -7.005966436911727,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.990407246915333,
      "realized_annual_volatility_pct": 44.152157494194064,
      "trading_costs_quote_units": 8.253131454615886,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -691.5729341460932,
      "turnover_quote_units": 13755.219091026482,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9616.209163650896,
      "return_pct": -3.8379083634910383,
      "cagr_pct": -3.842206234524575,
      "max_drawdown_pct": 26.918488248456285,
      "mean_exposure_while_solvent": 0.7488699918331259,
      "realized_annual_volatility_pct": 33.3415774428439,
      "trading_costs_quote_units": 11.148949985249267,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -372.64188636385336,
      "turnover_quote_units": 18581.583308748744,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9280.46833252925,
      "return_pct": -7.195316674707497,
      "cagr_pct": -7.203230923340807,
      "max_drawdown_pct": 34.48529519004313,
      "mean_exposure_while_solvent": 0.9986295111923252,
      "realized_annual_volatility_pct": 44.50029469794336,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -713.5352653120484,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8726.298681529637,
      "return_pct": -12.737013184703628,
      "cagr_pct": -12.75059029197271,
      "max_drawdown_pct": 41.52895886131,
      "mean_exposure_while_solvent": 1.2485215143234354,
      "realized_annual_volatility_pct": 55.69039501245447,
      "trading_costs_quote_units": 18.563168940904724,
      "borrowing_costs_quote_units": 134.18434200562777,
      "price_pnl_quote_units": -1120.9538075238345,
      "turnover_quote_units": 30938.6149015079,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8103.895522126601,
      "return_pct": -18.961044778733992,
      "cagr_pct": -18.980500697354056,
      "max_drawdown_pct": 47.95924687978591,
      "mean_exposure_while_solvent": 1.4985639300082345,
      "realized_annual_volatility_pct": 66.91699466938958,
      "trading_costs_quote_units": 35.23577235388253,
      "borrowing_costs_quote_units": 266.1057520418541,
      "price_pnl_quote_units": -1594.7629534776788,
      "turnover_quote_units": 58726.2872564708,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8784.671899263953,
      "return_pct": -12.153281007360473,
      "cagr_pct": -12.166280147934051,
      "max_drawdown_pct": 38.689713456616026,
      "mean_exposure_while_solvent": 0.9903854070312892,
      "realized_annual_volatility_pct": 41.6102735414575,
      "trading_costs_quote_units": 46.91258529345506,
      "borrowing_costs_quote_units": 130.5432364992592,
      "price_pnl_quote_units": -1037.872278943318,
      "turnover_quote_units": 78187.64215575845,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9033.90214111282,
      "return_pct": -9.660978588871805,
      "cagr_pct": -9.671460514685693,
      "max_drawdown_pct": 38.562439466481116,
      "mean_exposure_while_solvent": 1.2778580411687797,
      "realized_annual_volatility_pct": 54.6941796037795,
      "trading_costs_quote_units": 42.798447363852624,
      "borrowing_costs_quote_units": 327.13333171731466,
      "price_pnl_quote_units": -596.166079806017,
      "turnover_quote_units": 71330.74560642107,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9244.947104968182,
      "return_pct": -7.5505289503181805,
      "cagr_pct": -7.558817772889967,
      "max_drawdown_pct": 43.05063692804772,
      "mean_exposure_while_solvent": 1.422941457740726,
      "realized_annual_volatility_pct": 63.27971069965008,
      "trading_costs_quote_units": 42.67670862129438,
      "borrowing_costs_quote_units": 465.3410611973719,
      "price_pnl_quote_units": -247.03512521317788,
      "turnover_quote_units": 71127.84770215725,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8500.183621050364,
      "return_pct": -14.998163789496354,
      "cagr_pct": -15.013937304319677,
      "max_drawdown_pct": 42.200893665163534,
      "mean_exposure_while_solvent": 1.3171174373967944,
      "realized_annual_volatility_pct": 56.11463575873299,
      "trading_costs_quote_units": 62.905530914730875,
      "borrowing_costs_quote_units": 369.8776836507981,
      "price_pnl_quote_units": -1067.0331643840834,
      "turnover_quote_units": 104842.5515245515,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9235.175994767536,
      "return_pct": -7.64824005232464,
      "cagr_pct": -7.6566316385766715,
      "max_drawdown_pct": 38.24904589139534,
      "mean_exposure_while_solvent": 1.24315978408202,
      "realized_annual_volatility_pct": 52.912641510689895,
      "trading_costs_quote_units": 31.928182740367703,
      "borrowing_costs_quote_units": 292.304092086723,
      "price_pnl_quote_units": -440.591730405352,
      "turnover_quote_units": 53213.637900612775,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9300.173934399285,
      "return_pct": -6.998260656007149,
      "cagr_pct": -7.005966436911727,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.990407246915333,
      "realized_annual_volatility_pct": 44.152157494194064,
      "trading_costs_quote_units": 8.253131454615886,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -691.5729341460932,
      "turnover_quote_units": 13755.219091026482,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9616.209163650896,
      "return_pct": -3.8379083634910383,
      "cagr_pct": -3.842206234524575,
      "max_drawdown_pct": 26.918488248456285,
      "mean_exposure_while_solvent": 0.7488699918331259,
      "realized_annual_volatility_pct": 33.3415774428439,
      "trading_costs_quote_units": 11.148949985249267,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -372.64188636385336,
      "turnover_quote_units": 18581.583308748744,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9280.46833252925,
      "return_pct": -7.195316674707497,
      "cagr_pct": -7.203230923340807,
      "max_drawdown_pct": 34.48529519004313,
      "mean_exposure_while_solvent": 0.9986295111923252,
      "realized_annual_volatility_pct": 44.50029469794336,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -713.5352653120484,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8618.068890528973,
      "return_pct": -13.819311094710262,
      "cagr_pct": -13.83394797626775,
      "max_drawdown_pct": 41.62142308291807,
      "mean_exposure_while_solvent": 1.2485393228175896,
      "realized_annual_volatility_pct": 55.691301420448134,
      "trading_costs_quote_units": 18.494822612938748,
      "borrowing_costs_quote_units": 266.69298658512037,
      "price_pnl_quote_units": -1096.743300272964,
      "turnover_quote_units": 30824.704354897876,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7904.042786847589,
      "return_pct": -20.959572131524105,
      "cagr_pct": -20.98080175584935,
      "max_drawdown_pct": 48.124179180423155,
      "mean_exposure_while_solvent": 1.498606708367902,
      "realized_annual_volatility_pct": 66.91918531300905,
      "trading_costs_quote_units": 34.92240812085629,
      "borrowing_costs_quote_units": 525.578383008103,
      "price_pnl_quote_units": -1535.45642202348,
      "turnover_quote_units": 58204.01353476051,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8687.65721104601,
      "return_pct": -13.123427889539908,
      "cagr_pct": -13.137385141181007,
      "max_drawdown_pct": 38.756170842008295,
      "mean_exposure_while_solvent": 0.9904019503316368,
      "realized_annual_volatility_pct": 41.61094214358198,
      "trading_costs_quote_units": 46.72299555996523,
      "borrowing_costs_quote_units": 259.6633829136165,
      "price_pnl_quote_units": -1005.9564104804108,
      "turnover_quote_units": 77871.65926660855,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8778.159375830777,
      "return_pct": -12.218406241692225,
      "cagr_pct": -12.231470084569656,
      "max_drawdown_pct": 38.72251671312469,
      "mean_exposure_while_solvent": 1.2779052262815824,
      "realized_annual_volatility_pct": 54.69588636419375,
      "trading_costs_quote_units": 42.36442821247208,
      "borrowing_costs_quote_units": 644.9321859576826,
      "price_pnl_quote_units": -534.5440099990967,
      "turnover_quote_units": 70607.38035412016,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8861.381036669532,
      "return_pct": -11.386189633304678,
      "cagr_pct": -11.398422521206784,
      "max_drawdown_pct": 43.50055943830809,
      "mean_exposure_while_solvent": 1.423013037532865,
      "realized_annual_volatility_pct": 63.28241199732424,
      "trading_costs_quote_units": 41.9658829488947,
      "borrowing_costs_quote_units": 910.8560978329577,
      "price_pnl_quote_units": -185.79698254863396,
      "turnover_quote_units": 69943.13824815785,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8219.580137499437,
      "return_pct": -17.80419862500563,
      "cagr_pct": -17.822601999581327,
      "max_drawdown_pct": 42.37588907708385,
      "mean_exposure_while_solvent": 1.3171731999343348,
      "realized_annual_volatility_pct": 56.11734292198951,
      "trading_costs_quote_units": 62.05993506529976,
      "borrowing_costs_quote_units": 727.3626850746607,
      "price_pnl_quote_units": -990.9972423605893,
      "turnover_quote_units": 103433.22510883279,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9009.167021010482,
      "return_pct": -9.908329789895177,
      "cagr_pct": -9.91906508896424,
      "max_drawdown_pct": 38.416562328791294,
      "mean_exposure_while_solvent": 1.2432004954994538,
      "realized_annual_volatility_pct": 52.91375428188023,
      "trading_costs_quote_units": 31.621865252353523,
      "borrowing_costs_quote_units": 577.3716018988675,
      "price_pnl_quote_units": -381.8395118382696,
      "turnover_quote_units": 52703.10875392254,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9300.173934399285,
      "return_pct": -6.998260656007149,
      "cagr_pct": -7.005966436911727,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.990407246915333,
      "realized_annual_volatility_pct": 44.152157494194064,
      "trading_costs_quote_units": 8.253131454615886,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -691.5729341460932,
      "turnover_quote_units": 13755.219091026482,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9616.209163650896,
      "return_pct": -3.8379083634910383,
      "cagr_pct": -3.842206234524575,
      "max_drawdown_pct": 26.918488248456285,
      "mean_exposure_while_solvent": 0.7488699918331259,
      "realized_annual_volatility_pct": 33.3415774428439,
      "trading_costs_quote_units": 11.148949985249267,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -372.64188636385336,
      "turnover_quote_units": 18581.583308748744,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9280.46833252925,
      "return_pct": -7.195316674707497,
      "cagr_pct": -7.203230923340807,
      "max_drawdown_pct": 34.48529519004313,
      "mean_exposure_while_solvent": 0.9986295111923252,
      "realized_annual_volatility_pct": 44.50029469794336,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -713.5352653120484,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8405.570751759169,
      "return_pct": -15.944292482408306,
      "cagr_pct": -15.96096473386534,
      "max_drawdown_pct": 41.80595438870193,
      "mean_exposure_while_solvent": 1.2485749452915773,
      "realized_annual_volatility_pct": 55.69311436068932,
      "trading_costs_quote_units": 18.36301997330844,
      "borrowing_costs_quote_units": 526.7634865986985,
      "price_pnl_quote_units": -1049.3027416687978,
      "turnover_quote_units": 30605.033288847397,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7518.893925739885,
      "return_pct": -24.811060742601143,
      "cagr_pct": -24.8355443443494,
      "max_drawdown_pct": 48.45256788160258,
      "mean_exposure_while_solvent": 1.4986922836544276,
      "realized_annual_volatility_pct": 66.9235673074616,
      "trading_costs_quote_units": 34.318586701602186,
      "borrowing_costs_quote_units": 1025.2588995185758,
      "price_pnl_quote_units": -1421.5285880399456,
      "turnover_quote_units": 57197.644502670395,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8711.524918855648,
      "return_pct": -12.884750811443524,
      "cagr_pct": -12.89847349045444,
      "max_drawdown_pct": 38.577442228565396,
      "mean_exposure_while_solvent": 0.9911773163527893,
      "realized_annual_volatility_pct": 41.625485476573374,
      "trading_costs_quote_units": 239.1808188542748,
      "borrowing_costs_quote_units": 64.97708953387279,
      "price_pnl_quote_units": -984.3171727562064,
      "turnover_quote_units": 79726.9396180915,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9021.394976982858,
      "return_pct": -9.786050230171417,
      "cagr_pct": -9.79666036954634,
      "max_drawdown_pct": 38.915012015900174,
      "mean_exposure_while_solvent": 1.2789272680553831,
      "realized_annual_volatility_pct": 54.66191358279475,
      "trading_costs_quote_units": 217.86403827936692,
      "borrowing_costs_quote_units": 164.68361439259095,
      "price_pnl_quote_units": -596.0573703451987,
      "turnover_quote_units": 72621.3460931223,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9236.260966227932,
      "return_pct": -7.637390337720684,
      "cagr_pct": -7.645770519057447,
      "max_drawdown_pct": 43.12687097924572,
      "mean_exposure_while_solvent": 1.4240312815744247,
      "realized_annual_volatility_pct": 63.156080084812075,
      "trading_costs_quote_units": 218.36394153934214,
      "borrowing_costs_quote_units": 234.3990542870605,
      "price_pnl_quote_units": -310.9760379457006,
      "turnover_quote_units": 72787.98051311407,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8440.028115676823,
      "return_pct": -15.59971884323177,
      "cagr_pct": -15.616065183250058,
      "max_drawdown_pct": 41.95860442030587,
      "mean_exposure_while_solvent": 1.3183800247726039,
      "realized_annual_volatility_pct": 55.896060375290176,
      "trading_costs_quote_units": 319.15369777483664,
      "borrowing_costs_quote_units": 183.75057736605612,
      "price_pnl_quote_units": -1057.0676091822938,
      "turnover_quote_units": 106384.56592494561,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9174.97621149384,
      "return_pct": -8.250237885061596,
      "cagr_pct": -8.259259986030843,
      "max_drawdown_pct": 38.753485752216335,
      "mean_exposure_while_solvent": 1.2442358707417895,
      "realized_annual_volatility_pct": 52.86395379228994,
      "trading_costs_quote_units": 162.82586788110717,
      "borrowing_costs_quote_units": 146.43977155271494,
      "price_pnl_quote_units": -515.7581490723319,
      "turnover_quote_units": 54275.28929370235,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9309.42455284114,
      "return_pct": -6.90575447158861,
      "cagr_pct": -6.9133622244780435,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9913336631543913,
      "realized_annual_volatility_pct": 44.15857771275791,
      "trading_costs_quote_units": 40.997210461736145,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -649.5782366971207,
      "turnover_quote_units": 13665.73682057872,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9624.922977815788,
      "return_pct": -3.7507702218421257,
      "cagr_pct": -3.7549724285458432,
      "max_drawdown_pct": 27.00894475262271,
      "mean_exposure_while_solvent": 0.7496311357583844,
      "realized_annual_volatility_pct": 33.384991300577546,
      "trading_costs_quote_units": 56.396260292017914,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -318.68076189218783,
      "turnover_quote_units": 18798.75343067264,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9332.189185690853,
      "return_pct": -6.678108143091466,
      "cagr_pct": -6.68547421379596,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9995431703974418,
      "realized_annual_volatility_pct": 44.51415092367464,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -637.9005451167192,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8759.587066348377,
      "return_pct": -12.404129336516235,
      "cagr_pct": -12.417377392875766,
      "max_drawdown_pct": 41.475312060121794,
      "mean_exposure_while_solvent": 1.2495229018991587,
      "realized_annual_volatility_pct": 55.65681924370971,
      "trading_costs_quote_units": 93.9918313064197,
      "borrowing_costs_quote_units": 134.89451274610184,
      "price_pnl_quote_units": -1011.5265895990836,
      "turnover_quote_units": 31330.610435473187,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8111.491865581838,
      "return_pct": -18.88508134418162,
      "cagr_pct": -18.904468724463193,
      "max_drawdown_pct": 47.8398229487313,
      "mean_exposure_while_solvent": 1.4995791297337795,
      "realized_annual_volatility_pct": 66.81370597606045,
      "trading_costs_quote_units": 178.8717335762153,
      "borrowing_costs_quote_units": 267.11503815924453,
      "price_pnl_quote_units": -1442.5213626826844,
      "turnover_quote_units": 59623.91119207173,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8663.281777491964,
      "return_pct": -13.367182225080365,
      "cagr_pct": -13.381378265576124,
      "max_drawdown_pct": 38.609400752057695,
      "mean_exposure_while_solvent": 0.991185577278182,
      "realized_annual_volatility_pct": 41.62595235819694,
      "trading_costs_quote_units": 238.71251292568346,
      "borrowing_costs_quote_units": 129.59996473542625,
      "price_pnl_quote_units": -968.4057448469215,
      "turnover_quote_units": 79570.83764189444,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8892.675691973278,
      "return_pct": -11.073243080267225,
      "cagr_pct": -11.08516117977924,
      "max_drawdown_pct": 38.993404357795036,
      "mean_exposure_while_solvent": 1.278950865443485,
      "realized_annual_volatility_pct": 54.663026419898195,
      "trading_costs_quote_units": 216.76959336253478,
      "borrowing_costs_quote_units": 327.0049548724416,
      "price_pnl_quote_units": -563.54975979176,
      "turnover_quote_units": 72256.5311208449,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9042.45693732315,
      "return_pct": -9.5754306267685,
      "cagr_pct": -9.585824741546766,
      "max_drawdown_pct": 43.35188979403689,
      "mean_exposure_while_solvent": 1.4240670810565816,
      "realized_annual_volatility_pct": 63.158037189863435,
      "trading_costs_quote_units": 216.52134100786787,
      "borrowing_costs_quote_units": 463.7697017076167,
      "price_pnl_quote_units": -277.2520199613758,
      "turnover_quote_units": 72173.78033595596,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8299.388097432375,
      "return_pct": -17.00611902567626,
      "cagr_pct": -17.0237854110575,
      "max_drawdown_pct": 42.04548266067458,
      "mean_exposure_while_solvent": 1.318407948146514,
      "realized_annual_volatility_pct": 55.89771290703044,
      "trading_costs_quote_units": 316.99381591220197,
      "borrowing_costs_quote_units": 364.4018695141893,
      "price_pnl_quote_units": -1019.2162171412443,
      "turnover_quote_units": 105664.60530406739,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9061.904041525839,
      "return_pct": -9.38095958474161,
      "cagr_pct": -9.391153739862931,
      "max_drawdown_pct": 38.83538305830639,
      "mean_exposure_while_solvent": 1.2442562290465453,
      "realized_annual_volatility_pct": 52.86477375904636,
      "trading_costs_quote_units": 162.08451008819964,
      "borrowing_costs_quote_units": 291.0571965977446,
      "price_pnl_quote_units": -484.9542517881697,
      "turnover_quote_units": 54028.170029399866,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9309.42455284114,
      "return_pct": -6.90575447158861,
      "cagr_pct": -6.9133622244780435,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9913336631543913,
      "realized_annual_volatility_pct": 44.15857771275791,
      "trading_costs_quote_units": 40.997210461736145,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -649.5782366971207,
      "turnover_quote_units": 13665.73682057872,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9624.922977815788,
      "return_pct": -3.7507702218421257,
      "cagr_pct": -3.7549724285458432,
      "max_drawdown_pct": 27.00894475262271,
      "mean_exposure_while_solvent": 0.7496311357583844,
      "realized_annual_volatility_pct": 33.384991300577546,
      "trading_costs_quote_units": 56.396260292017914,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -318.68076189218783,
      "turnover_quote_units": 18798.75343067264,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9332.189185690853,
      "return_pct": -6.678108143091466,
      "cagr_pct": -6.68547421379596,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9995431703974418,
      "realized_annual_volatility_pct": 44.51415092367464,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -637.9005451167192,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8650.834075915616,
      "return_pct": -13.491659240843834,
      "cagr_pct": -13.505976920368143,
      "max_drawdown_pct": 41.56785941523072,
      "mean_exposure_while_solvent": 1.2495407203772941,
      "realized_annual_volatility_pct": 55.65798905011036,
      "trading_costs_quote_units": 93.66589946522386,
      "borrowing_costs_quote_units": 268.10370475688643,
      "price_pnl_quote_units": -987.3963198622847,
      "turnover_quote_units": 31221.966488407943,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7911.241526829732,
      "return_pct": -20.88758473170268,
      "cagr_pct": -20.908751460949034,
      "max_drawdown_pct": 48.00511860682841,
      "mean_exposure_while_solvent": 1.4996219181891395,
      "realized_annual_volatility_pct": 66.81652318966685,
      "trading_costs_quote_units": 177.31912318838678,
      "borrowing_costs_quote_units": 527.5751482959661,
      "price_pnl_quote_units": -1383.8642016859078,
      "turnover_quote_units": 59106.374396129024,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8567.573281456536,
      "return_pct": -14.324267185434636,
      "cagr_pct": -14.339393210338525,
      "max_drawdown_pct": 38.67328410400197,
      "mean_exposure_while_solvent": 0.9912021019438396,
      "realized_annual_volatility_pct": 41.62690402990371,
      "trading_costs_quote_units": 237.78152173892653,
      "borrowing_costs_quote_units": 257.79048037105525,
      "price_pnl_quote_units": -936.8547164335029,
      "turnover_quote_units": 79260.5072463088,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8640.647599661417,
      "return_pct": -13.593524003385827,
      "cagr_pct": -13.607941072900228,
      "max_drawdown_pct": 39.14993032053488,
      "mean_exposure_while_solvent": 1.2789980698595058,
      "realized_annual_volatility_pct": 54.665279676181655,
      "trading_costs_quote_units": 214.62505175641348,
      "borrowing_costs_quote_units": 644.6903243065503,
      "price_pnl_quote_units": -500.0370242756082,
      "turnover_quote_units": 71541.68391880453,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8666.854171169154,
      "return_pct": -13.331458288308461,
      "cagr_pct": -13.345619381574952,
      "max_drawdown_pct": 43.799381258546624,
      "mean_exposure_while_solvent": 1.424138695216612,
      "realized_annual_volatility_pct": 63.161964970403695,
      "trading_costs_quote_units": 212.92814271348098,
      "borrowing_costs_quote_units": 907.8388480587563,
      "price_pnl_quote_units": -212.3788380586144,
      "turnover_quote_units": 70976.04757116042,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8025.020687175339,
      "return_pct": -19.74979312824661,
      "cagr_pct": -19.769955874036636,
      "max_drawdown_pct": 42.21889329606236,
      "mean_exposure_while_solvent": 1.318463806467503,
      "realized_annual_volatility_pct": 55.90104278345252,
      "trading_costs_quote_units": 312.76524411787136,
      "borrowing_costs_quote_units": 716.6060408075849,
      "price_pnl_quote_units": -945.6080278992067,
      "turnover_quote_units": 104255.08137262375,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8839.86336117489,
      "return_pct": -11.6013663882511,
      "cagr_pct": -11.613814986549526,
      "max_drawdown_pct": 38.99889465898173,
      "mean_exposure_while_solvent": 1.2442969539637023,
      "realized_annual_volatility_pct": 52.86644474207477,
      "trading_costs_quote_units": 160.62435977582427,
      "borrowing_costs_quote_units": 574.9119310126374,
      "price_pnl_quote_units": -424.6003480366413,
      "turnover_quote_units": 53541.45325860805,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9309.42455284114,
      "return_pct": -6.90575447158861,
      "cagr_pct": -6.9133622244780435,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9913336631543913,
      "realized_annual_volatility_pct": 44.15857771275791,
      "trading_costs_quote_units": 40.997210461736145,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -649.5782366971207,
      "turnover_quote_units": 13665.73682057872,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9624.922977815788,
      "return_pct": -3.7507702218421257,
      "cagr_pct": -3.7549724285458432,
      "max_drawdown_pct": 27.00894475262271,
      "mean_exposure_while_solvent": 0.7496311357583844,
      "realized_annual_volatility_pct": 33.384991300577546,
      "trading_costs_quote_units": 56.396260292017914,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -318.68076189218783,
      "turnover_quote_units": 18798.75343067264,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9332.189185690853,
      "return_pct": -6.678108143091466,
      "cagr_pct": -6.68547421379596,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9995431703974418,
      "realized_annual_volatility_pct": 44.51415092367464,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -637.9005451167192,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8437.308428805427,
      "return_pct": -15.626915711945733,
      "cagr_pct": -15.643287834384548,
      "max_drawdown_pct": 41.752556392352446,
      "mean_exposure_while_solvent": 1.2495763628232295,
      "realized_annual_volatility_pct": 55.66032858565468,
      "trading_costs_quote_units": 93.02921642286545,
      "borrowing_costs_quote_units": 529.5467759284451,
      "price_pnl_quote_units": -940.1155788432685,
      "turnover_quote_units": 31009.738807621827,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7525.332453016319,
      "return_pct": -24.74667546983681,
      "cagr_pct": -24.771106496911322,
      "max_drawdown_pct": 48.334230365999666,
      "mean_exposure_while_solvent": 1.4997075136691438,
      "realized_annual_volatility_pct": 66.82215795098459,
      "trading_costs_quote_units": 174.30421603120496,
      "borrowing_costs_quote_units": 1029.1667831191291,
      "price_pnl_quote_units": -1271.196547833341,
      "turnover_quote_units": 58101.40534373508,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8679.280938167823,
      "return_pct": -13.207190618321762,
      "cagr_pct": -13.221230014658216,
      "max_drawdown_pct": 38.765977885737826,
      "mean_exposure_while_solvent": 0.9903771367917767,
      "realized_annual_volatility_pct": 41.60509003871794,
      "trading_costs_quote_units": 232.9233588641867,
      "borrowing_costs_quote_units": 64.70076100552356,
      "price_pnl_quote_units": -1023.0949419624392,
      "turnover_quote_units": 77641.11962139557,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9012.436947902792,
      "return_pct": -9.875630520972079,
      "cagr_pct": -9.886332369158747,
      "max_drawdown_pct": 38.59592936822103,
      "mean_exposure_while_solvent": 1.2778344534327344,
      "realized_annual_volatility_pct": 54.68707414089082,
      "trading_costs_quote_units": 213.2445777031491,
      "borrowing_costs_quote_units": 162.93375858937586,
      "price_pnl_quote_units": -611.3847158046572,
      "turnover_quote_units": 71081.52590104968,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9287.644096818913,
      "return_pct": -7.123559031810878,
      "cagr_pct": -7.131397422573219,
      "max_drawdown_pct": 43.08161257645826,
      "mean_exposure_while_solvent": 1.4229056754404925,
      "realized_annual_volatility_pct": 63.272099463802725,
      "trading_costs_quote_units": 213.33325756428707,
      "borrowing_costs_quote_units": 232.746477684559,
      "price_pnl_quote_units": -266.2761679322589,
      "turnover_quote_units": 71111.08585476229,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8425.511694862958,
      "return_pct": -15.744883051370417,
      "cagr_pct": -15.761366889880746,
      "max_drawdown_pct": 42.38397734667796,
      "mean_exposure_while_solvent": 1.317089561900826,
      "realized_annual_volatility_pct": 56.1047352253153,
      "trading_costs_quote_units": 312.61534531944767,
      "borrowing_costs_quote_units": 183.65372644137656,
      "price_pnl_quote_units": -1078.219233376208,
      "turnover_quote_units": 104205.11510648242,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9238.920508465944,
      "return_pct": -7.610794915340557,
      "cagr_pct": -7.619147134153131,
      "max_drawdown_pct": 38.27660910635339,
      "mean_exposure_while_solvent": 1.2431394325286937,
      "realized_annual_volatility_pct": 52.90610503245359,
      "trading_costs_quote_units": 159.39184138761934,
      "borrowing_costs_quote_units": 145.89721056591847,
      "price_pnl_quote_units": -455.790439580504,
      "turnover_quote_units": 53130.61379587303,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9268.673792614793,
      "return_pct": -7.313262073852078,
      "cagr_pct": -7.321300869437028,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.990407246915333,
      "realized_annual_volatility_pct": 44.15188049993349,
      "trading_costs_quote_units": 41.161467989993625,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -690.164739395215,
      "turnover_quote_units": 13720.489329997876,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9574.510802738097,
      "return_pct": -4.254891972619024,
      "cagr_pct": -4.259646376684621,
      "max_drawdown_pct": 26.947838715426776,
      "mean_exposure_while_solvent": 0.7488699918331259,
      "realized_annual_volatility_pct": 33.34173463697048,
      "trading_costs_quote_units": 55.60179207463712,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -369.8874051872798,
      "turnover_quote_units": 18533.930691545695,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9258.261828044635,
      "return_pct": -7.417381719553651,
      "cagr_pct": -7.425530319899655,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9986295111923252,
      "realized_annual_volatility_pct": 44.501245735853615,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -711.8279027629451,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8663.225955101349,
      "return_pct": -13.36774044898652,
      "cagr_pct": -13.381937035435707,
      "max_drawdown_pct": 41.56901189170108,
      "mean_exposure_while_solvent": 1.2485215143234354,
      "realized_annual_volatility_pct": 55.690669653518455,
      "trading_costs_quote_units": 92.42439938217134,
      "borrowing_costs_quote_units": 133.4752579009168,
      "price_pnl_quote_units": -1110.8743876155534,
      "turnover_quote_units": 30808.133127390432,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7992.524415666032,
      "return_pct": -20.074755843339677,
      "cagr_pct": -20.09520722784246,
      "max_drawdown_pct": 48.045631495462956,
      "mean_exposure_while_solvent": 1.4985639300082345,
      "realized_annual_volatility_pct": 66.91627502528779,
      "trading_costs_quote_units": 174.89115281441275,
      "borrowing_costs_quote_units": 263.6919454957723,
      "price_pnl_quote_units": -1568.8924860237707,
      "turnover_quote_units": 58297.050938137516,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8631.241859972686,
      "return_pct": -13.68758140027314,
      "cagr_pct": -13.702090120189188,
      "max_drawdown_pct": 38.79924692688756,
      "mean_exposure_while_solvent": 0.9903854070312892,
      "realized_annual_volatility_pct": 41.60541327634931,
      "trading_costs_quote_units": 232.45169177502925,
      "borrowing_costs_quote_units": 129.04851465607004,
      "price_pnl_quote_units": -1007.2579335961861,
      "turnover_quote_units": 77483.89725834299,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8884.000275176428,
      "return_pct": -11.15999724823572,
      "cagr_pct": -11.172002738829322,
      "max_drawdown_pct": 38.67602673174102,
      "mean_exposure_while_solvent": 1.2778580411687797,
      "realized_annual_volatility_pct": 54.68791267932779,
      "trading_costs_quote_units": 212.14056150660556,
      "borrowing_costs_quote_units": 323.530242277712,
      "price_pnl_quote_units": -580.3289210392884,
      "turnover_quote_units": 70713.52050220195,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9093.0119842366,
      "return_pct": -9.069880157634003,
      "cagr_pct": -9.07975346202714,
      "max_drawdown_pct": 43.30690296276487,
      "mean_exposure_while_solvent": 1.422941457740726,
      "realized_annual_volatility_pct": 63.27344647952721,
      "trading_costs_quote_units": 211.52366334518126,
      "borrowing_costs_quote_units": 460.4937661078314,
      "price_pnl_quote_units": -234.97058631038618,
      "turnover_quote_units": 70507.88778172711,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8285.314492734553,
      "return_pct": -17.146855072654464,
      "cagr_pct": -17.164652060723228,
      "max_drawdown_pct": 42.4713915094715,
      "mean_exposure_while_solvent": 1.3171174373967944,
      "realized_annual_volatility_pct": 56.10607733492693,
      "trading_costs_quote_units": 310.48542145981054,
      "borrowing_costs_quote_units": 364.2126362138719,
      "price_pnl_quote_units": -1039.9874495917459,
      "turnover_quote_units": 103495.1404866034,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9125.243427432039,
      "return_pct": -8.747565725679618,
      "cagr_pct": -8.757105308097751,
      "max_drawdown_pct": 38.36040580408488,
      "mean_exposure_while_solvent": 1.24315978408202,
      "realized_annual_volatility_pct": 52.90664792217116,
      "trading_costs_quote_units": 158.60662301267004,
      "borrowing_costs_quote_units": 289.9802861127321,
      "price_pnl_quote_units": -426.1696634425374,
      "turnover_quote_units": 52868.874337556656,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9268.673792614793,
      "return_pct": -7.313262073852078,
      "cagr_pct": -7.321300869437028,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.990407246915333,
      "realized_annual_volatility_pct": 44.15188049993349,
      "trading_costs_quote_units": 41.161467989993625,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -690.164739395215,
      "turnover_quote_units": 13720.489329997876,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9574.510802738097,
      "return_pct": -4.254891972619024,
      "cagr_pct": -4.259646376684621,
      "max_drawdown_pct": 26.947838715426776,
      "mean_exposure_while_solvent": 0.7488699918331259,
      "realized_annual_volatility_pct": 33.34173463697048,
      "trading_costs_quote_units": 55.60179207463712,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -369.8874051872798,
      "turnover_quote_units": 18533.930691545695,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9258.261828044635,
      "return_pct": -7.417381719553651,
      "cagr_pct": -7.425530319899655,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9986295111923252,
      "realized_annual_volatility_pct": 44.501245735853615,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -711.8279027629451,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8555.783280099884,
      "return_pct": -14.442167199001155,
      "cagr_pct": -14.457406942681839,
      "max_drawdown_pct": 41.66148219313048,
      "mean_exposure_while_solvent": 1.2485393228175896,
      "realized_annual_volatility_pct": 55.69158415593688,
      "trading_costs_quote_units": 92.08611431828847,
      "borrowing_costs_quote_units": 265.2847876277916,
      "price_pnl_quote_units": -1086.8458179540385,
      "turnover_quote_units": 30695.371439429455,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7795.422652928213,
      "return_pct": -22.045773470717865,
      "cagr_pct": -22.067942968609877,
      "max_drawdown_pct": 48.210444743037804,
      "mean_exposure_while_solvent": 1.498606708367902,
      "realized_annual_volatility_pct": 66.91848621400874,
      "trading_costs_quote_units": 173.3446344293754,
      "borrowing_costs_quote_units": 520.8206567865276,
      "price_pnl_quote_units": -1510.412055855868,
      "turnover_quote_units": 57781.544809791754,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8535.934659469061,
      "return_pct": -14.64065340530939,
      "cagr_pct": -14.656084176360604,
      "max_drawdown_pct": 38.865747689905405,
      "mean_exposure_while_solvent": 0.9904019503316368,
      "realized_annual_volatility_pct": 41.60607752639595,
      "trading_costs_quote_units": 231.5180662544775,
      "borrowing_costs_quote_units": 256.6923662932816,
      "price_pnl_quote_units": -975.8549079831615,
      "turnover_quote_units": 77172.6887514926,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8632.501811342168,
      "return_pct": -13.674981886578319,
      "cagr_pct": -13.689478336205072,
      "max_drawdown_pct": 38.83595203972652,
      "mean_exposure_while_solvent": 1.2779052262815824,
      "realized_annual_volatility_pct": 54.68961713756427,
      "trading_costs_quote_units": 210.0029597217508,
      "borrowing_costs_quote_units": 637.8388310965175,
      "price_pnl_quote_units": -519.6563978395563,
      "turnover_quote_units": 70000.98657391692,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8715.77336330598,
      "return_pct": -12.842266366940203,
      "cagr_pct": -12.855947213662178,
      "max_drawdown_pct": 43.75492660548903,
      "mean_exposure_while_solvent": 1.423013037532865,
      "realized_annual_volatility_pct": 63.27615361555213,
      "trading_costs_quote_units": 208.02074613864735,
      "borrowing_costs_quote_units": 901.4008708789249,
      "price_pnl_quote_units": -174.80501967641175,
      "turnover_quote_units": 69340.24871288253,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 336,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8011.783998527324,
      "return_pct": -19.882160014726757,
      "cagr_pct": -19.902440513476876,
      "max_drawdown_pct": 42.64586673409725,
      "mean_exposure_while_solvent": 1.3171731999343348,
      "realized_annual_volatility_pct": 56.108785831909294,
      "trading_costs_quote_units": 306.342710009511,
      "borrowing_costs_quote_units": 716.2441354804366,
      "price_pnl_quote_units": -965.6291559827357,
      "turnover_quote_units": 102114.23666983696,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 352,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8901.984424988808,
      "return_pct": -10.98015575011192,
      "cagr_pct": -10.991979971277907,
      "max_drawdown_pct": 38.52770445983521,
      "mean_exposure_while_solvent": 1.2432004954994538,
      "realized_annual_volatility_pct": 52.90776426651301,
      "trading_costs_quote_units": 157.0933746380672,
      "borrowing_costs_quote_units": 572.7895620347924,
      "price_pnl_quote_units": -368.1326383383312,
      "turnover_quote_units": 52364.45821268907,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 306,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9268.673792614793,
      "return_pct": -7.313262073852078,
      "cagr_pct": -7.321300869437028,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.990407246915333,
      "realized_annual_volatility_pct": 44.15188049993349,
      "trading_costs_quote_units": 41.161467989993625,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -690.164739395215,
      "turnover_quote_units": 13720.489329997876,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9574.510802738097,
      "return_pct": -4.254891972619024,
      "cagr_pct": -4.259646376684621,
      "max_drawdown_pct": 26.947838715426776,
      "mean_exposure_while_solvent": 0.7488699918331259,
      "realized_annual_volatility_pct": 33.34173463697048,
      "trading_costs_quote_units": 55.60179207463712,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -369.8874051872798,
      "turnover_quote_units": 18533.930691545695,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9258.261828044635,
      "return_pct": -7.417381719553651,
      "cagr_pct": -7.425530319899655,
      "max_drawdown_pct": 34.48529519004314,
      "mean_exposure_while_solvent": 0.9986295111923252,
      "realized_annual_volatility_pct": 44.501245735853615,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -711.8279027629451,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8344.821228456047,
      "return_pct": -16.551787715439538,
      "cagr_pct": -16.569030622958707,
      "max_drawdown_pct": 41.84602531171341,
      "mean_exposure_while_solvent": 1.2485749452915773,
      "realized_annual_volatility_pct": 55.69341309701908,
      "trading_costs_quote_units": 91.43377524172132,
      "borrowing_costs_quote_units": 523.9861529520822,
      "price_pnl_quote_units": -1039.7588433501628,
      "turnover_quote_units": 30477.92508057385,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7415.55551099269,
      "return_pct": -25.844444890073103,
      "cagr_pct": -25.869763655917833,
      "max_drawdown_pct": 48.53859497281745,
      "mean_exposure_while_solvent": 1.4986922836544276,
      "realized_annual_volatility_pct": 66.92290887069554,
      "trading_costs_quote_units": 170.36448263669047,
      "borrowing_costs_quote_units": 1016.0144455481936,
      "price_pnl_quote_units": -1398.0655608224497,
      "turnover_quote_units": 56788.16087889676,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9095.260124641509,
      "return_pct": -9.047398753584911,
      "cagr_pct": -9.057248823220274,
      "max_drawdown_pct": 36.18642192837341,
      "mean_exposure_while_solvent": 0.9876103759569796,
      "realized_annual_volatility_pct": 41.105867701851864,
      "trading_costs_quote_units": 49.55318220536521,
      "borrowing_costs_quote_units": 67.12935516814353,
      "price_pnl_quote_units": -788.0573379849782,
      "turnover_quote_units": 82588.63700894205,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8415.899745582075,
      "return_pct": -15.84100254417925,
      "cagr_pct": -15.857577269078657,
      "max_drawdown_pct": 44.76417087331935,
      "mean_exposure_while_solvent": 1.311232751159073,
      "realized_annual_volatility_pct": 55.9663478489764,
      "trading_costs_quote_units": 44.45466584581331,
      "borrowing_costs_quote_units": 181.53682190534582,
      "price_pnl_quote_units": -1358.1087666667847,
      "turnover_quote_units": 74091.10974302226,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8278.801784218076,
      "return_pct": -17.21198215781924,
      "cagr_pct": -17.229839491191964,
      "max_drawdown_pct": 47.61928646772834,
      "mean_exposure_while_solvent": 1.4689312829313819,
      "realized_annual_volatility_pct": 64.83182569855346,
      "trading_costs_quote_units": 38.9582312540264,
      "borrowing_costs_quote_units": 256.7471031756783,
      "price_pnl_quote_units": -1425.4928813521797,
      "turnover_quote_units": 64930.38542337731,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8354.291505531126,
      "return_pct": -16.457084944688738,
      "cagr_pct": -16.47423922401458,
      "max_drawdown_pct": 43.795934836945584,
      "mean_exposure_while_solvent": 1.3370101586945868,
      "realized_annual_volatility_pct": 56.31999961929319,
      "trading_costs_quote_units": 63.93783477633681,
      "borrowing_costs_quote_units": 195.46198692770142,
      "price_pnl_quote_units": -1386.3086727648597,
      "turnover_quote_units": 106563.05796056139,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8213.359024823303,
      "return_pct": -17.866409751766966,
      "cagr_pct": -17.884870204356215,
      "max_drawdown_pct": 46.67263124318557,
      "mean_exposure_while_solvent": 1.3090841048744801,
      "realized_annual_volatility_pct": 55.82721713931886,
      "trading_costs_quote_units": 32.62104822744549,
      "borrowing_costs_quote_units": 177.9796251663891,
      "price_pnl_quote_units": -1576.0403017828778,
      "turnover_quote_units": 54368.41371240917,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9336.358649856702,
      "return_pct": -6.636413501432981,
      "cagr_pct": -6.64373523791808,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9920199586890243,
      "realized_annual_volatility_pct": 43.88051719448932,
      "trading_costs_quote_units": 8.141024415432636,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -655.5003257278596,
      "turnover_quote_units": 13568.37402572106,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9662.664906946466,
      "return_pct": -3.373350930535346,
      "cagr_pct": -3.377137748346766,
      "max_drawdown_pct": 26.8839307905931,
      "mean_exposure_while_solvent": 0.7496317082954693,
      "realized_annual_volatility_pct": 33.14122132687572,
      "trading_costs_quote_units": 11.271841737767856,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -326.0632513157676,
      "turnover_quote_units": 18786.40289627976,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9350.109848142696,
      "return_pct": -6.498901518573041,
      "cagr_pct": -6.506076886722112,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 44.19129499781344,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -643.8937496985969,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8820.454113758076,
      "return_pct": -11.795458862419238,
      "cagr_pct": -11.808101520929792,
      "max_drawdown_pct": 41.30696696911278,
      "mean_exposure_while_solvent": 1.2495219790101881,
      "realized_annual_volatility_pct": 55.25181769777745,
      "trading_costs_quote_units": 18.808133848705783,
      "borrowing_costs_quote_units": 135.25128964231487,
      "price_pnl_quote_units": -1025.4864627509362,
      "turnover_quote_units": 31346.889747842994,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8223.824962970863,
      "return_pct": -17.761750370291374,
      "cagr_pct": -17.780114768172925,
      "max_drawdown_pct": 47.619286467728294,
      "mean_exposure_while_solvent": 1.4995760093129413,
      "realized_annual_volatility_pct": 66.32563437383982,
      "trading_costs_quote_units": 35.86395670200579,
      "borrowing_costs_quote_units": 268.7532305013649,
      "price_pnl_quote_units": -1471.557849825734,
      "turnover_quote_units": 59773.26117000971,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9043.74709935668,
      "return_pct": -9.562529006433195,
      "cagr_pct": -9.572909870261988,
      "max_drawdown_pct": 36.219712358004905,
      "mean_exposure_while_solvent": 0.9876188641403713,
      "realized_annual_volatility_pct": 41.10637091530005,
      "trading_costs_quote_units": 49.45060220412008,
      "borrowing_costs_quote_units": 133.88382055290722,
      "price_pnl_quote_units": -772.9184778863009,
      "turnover_quote_units": 82417.67034020007,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8282.703354445239,
      "return_pct": -17.172966455547613,
      "cagr_pct": -17.19078764487165,
      "max_drawdown_pct": 44.90450331561722,
      "mean_exposure_while_solvent": 1.3112587880603852,
      "realized_annual_volatility_pct": 55.96794041593095,
      "trading_costs_quote_units": 44.21463394874881,
      "borrowing_costs_quote_units": 360.2222781230888,
      "price_pnl_quote_units": -1312.859733482931,
      "turnover_quote_units": 73691.05658124799,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8086.848658888075,
      "return_pct": -19.13151341111925,
      "cagr_pct": -19.151122839406664,
      "max_drawdown_pct": 47.78509211776192,
      "mean_exposure_while_solvent": 1.4689710183056375,
      "realized_annual_volatility_pct": 64.83440396494849,
      "trading_costs_quote_units": 38.65793878291119,
      "borrowing_costs_quote_units": 507.51862956068544,
      "price_pnl_quote_units": -1366.9747727683248,
      "turnover_quote_units": 64429.897971518636,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8207.7814467227,
      "return_pct": -17.922185532773007,
      "cagr_pct": -17.940697113223873,
      "max_drawdown_pct": 43.92280049730968,
      "mean_exposure_while_solvent": 1.3370395201220837,
      "realized_annual_volatility_pct": 56.32185634528529,
      "trading_costs_quote_units": 63.49364495342873,
      "borrowing_costs_quote_units": 387.4669697302474,
      "price_pnl_quote_units": -1341.2579385936476,
      "turnover_quote_units": 105822.74158904783,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8086.218667317322,
      "return_pct": -19.13781332682678,
      "cagr_pct": -19.157428420421322,
      "max_drawdown_pct": 46.83783451441703,
      "mean_exposure_while_solvent": 1.3091095794963878,
      "realized_annual_volatility_pct": 55.82891360826115,
      "trading_costs_quote_units": 32.47204563514084,
      "borrowing_costs_quote_units": 353.27665338801154,
      "price_pnl_quote_units": -1528.0326336595224,
      "turnover_quote_units": 54120.076058568084,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9336.358649856702,
      "return_pct": -6.636413501432981,
      "cagr_pct": -6.64373523791808,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9920199586890243,
      "realized_annual_volatility_pct": 43.88051719448932,
      "trading_costs_quote_units": 8.141024415432636,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -655.5003257278596,
      "turnover_quote_units": 13568.37402572106,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9662.664906946466,
      "return_pct": -3.373350930535346,
      "cagr_pct": -3.377137748346766,
      "max_drawdown_pct": 26.8839307905931,
      "mean_exposure_while_solvent": 0.7496317082954693,
      "realized_annual_volatility_pct": 33.14122132687572,
      "trading_costs_quote_units": 11.271841737767856,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -326.0632513157676,
      "turnover_quote_units": 18786.40289627976,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9350.109848142696,
      "return_pct": -6.498901518573041,
      "cagr_pct": -6.506076886722112,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 44.19129499781344,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -643.8937496985969,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8710.956749874165,
      "return_pct": -12.890432501258342,
      "cagr_pct": -12.904160772947174,
      "max_drawdown_pct": 41.39969513117367,
      "mean_exposure_while_solvent": 1.2495398022802828,
      "realized_annual_volatility_pct": 55.25297121747974,
      "trading_costs_quote_units": 18.742576686741824,
      "borrowing_costs_quote_units": 268.81182972556144,
      "price_pnl_quote_units": -1001.4888437134965,
      "turnover_quote_units": 31237.627811236387,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8020.833093254485,
      "return_pct": -19.791669067455153,
      "cagr_pct": -19.811869092891648,
      "max_drawdown_pct": 47.785092117761884,
      "mean_exposure_while_solvent": 1.4996188090138964,
      "realized_annual_volatility_pct": 66.3284106393961,
      "trading_costs_quote_units": 35.55091801152893,
      "borrowing_costs_quote_units": 530.8011777515471,
      "price_pnl_quote_units": -1412.8148109824326,
      "turnover_quote_units": 59251.530019214886,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8941.570484392645,
      "return_pct": -10.584295156073553,
      "cagr_pct": -10.595718911342896,
      "max_drawdown_pct": 36.28625805752351,
      "mean_exposure_while_solvent": 0.9876358434279974,
      "realized_annual_volatility_pct": 41.10739622568625,
      "trading_costs_quote_units": 49.24718545072819,
      "borrowing_costs_quote_units": 266.27611182742936,
      "price_pnl_quote_units": -742.9062183292024,
      "turnover_quote_units": 82078.64241788028,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8022.5333292382,
      "return_pct": -19.774666707617993,
      "cagr_pct": -19.794851599882286,
      "max_drawdown_pct": 45.1841717301258,
      "mean_exposure_while_solvent": 1.311310872375466,
      "realized_annual_volatility_pct": 55.97114766224334,
      "trading_costs_quote_units": 43.74497936723683,
      "borrowing_costs_quote_units": 709.2112137680169,
      "price_pnl_quote_units": -1224.5104776265396,
      "turnover_quote_units": 72908.2989453948,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7716.089115870505,
      "return_pct": -22.83910884129494,
      "cagr_pct": -22.86195388153892,
      "max_drawdown_pct": 48.11522112147097,
      "mean_exposure_while_solvent": 1.4690505060117418,
      "realized_annual_volatility_pct": 64.83956538880075,
      "trading_costs_quote_units": 38.075279103314,
      "borrowing_costs_quote_units": 991.6687071861754,
      "price_pnl_quote_units": -1254.1668978399637,
      "turnover_quote_units": 63458.79850552331,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7922.348652816478,
      "return_pct": -20.776513471835223,
      "cagr_pct": -20.79758301173826,
      "max_drawdown_pct": 44.175737689876534,
      "mean_exposure_while_solvent": 1.337098255115478,
      "realized_annual_volatility_pct": 56.32559172734841,
      "trading_costs_quote_units": 62.624863672350656,
      "borrowing_costs_quote_units": 761.3396438708759,
      "price_pnl_quote_units": -1253.686839640276,
      "turnover_quote_units": 104374.77278725132,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7837.748038149161,
      "return_pct": -21.622519618508385,
      "cagr_pct": -21.644324925292906,
      "max_drawdown_pct": 47.16679708315845,
      "mean_exposure_while_solvent": 1.3091605390311902,
      "realized_annual_volatility_pct": 55.83232977813194,
      "trading_costs_quote_units": 32.17839806514592,
      "borrowing_costs_quote_units": 695.9794222502117,
      "price_pnl_quote_units": -1434.0941415354566,
      "turnover_quote_units": 53630.6634419099,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9336.358649856702,
      "return_pct": -6.636413501432981,
      "cagr_pct": -6.64373523791808,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9920199586890243,
      "realized_annual_volatility_pct": 43.88051719448932,
      "trading_costs_quote_units": 8.141024415432636,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -655.5003257278596,
      "turnover_quote_units": 13568.37402572106,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9662.664906946466,
      "return_pct": -3.373350930535346,
      "cagr_pct": -3.377137748346766,
      "max_drawdown_pct": 26.8839307905931,
      "mean_exposure_while_solvent": 0.7496317082954693,
      "realized_annual_volatility_pct": 33.14122132687572,
      "trading_costs_quote_units": 11.271841737767856,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -326.0632513157676,
      "turnover_quote_units": 18786.40289627976,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9350.109848142696,
      "return_pct": -6.498901518573041,
      "cagr_pct": -6.506076886722112,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 44.19129499781344,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -643.8937496985969,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8495.974575050572,
      "return_pct": -15.040254249494279,
      "cagr_pct": -15.056068003312687,
      "max_drawdown_pct": 41.58475338490296,
      "mean_exposure_while_solvent": 1.2495754543124904,
      "realized_annual_volatility_pct": 55.25527860949491,
      "trading_costs_quote_units": 18.614531578838797,
      "borrowing_costs_quote_units": 530.9418287243363,
      "price_pnl_quote_units": -954.4690646462344,
      "turnover_quote_units": 31024.219298064654,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7629.6500513128385,
      "return_pct": -23.703499486871614,
      "cagr_pct": -23.727069957664114,
      "max_drawdown_pct": 48.11522112147097,
      "mean_exposure_while_solvent": 1.4997044269922906,
      "realized_annual_volatility_pct": 66.33396450723164,
      "trading_costs_quote_units": 34.943112527370246,
      "borrowing_costs_quote_units": 1035.4237441483422,
      "price_pnl_quote_units": -1299.9830920114305,
      "turnover_quote_units": 58238.52087895046,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9082.040415632055,
      "return_pct": -9.179595843679456,
      "cagr_pct": -9.189582449132127,
      "max_drawdown_pct": 36.248766736531955,
      "mean_exposure_while_solvent": 0.9868320443935368,
      "realized_annual_volatility_pct": 41.10278763095746,
      "trading_costs_quote_units": 48.37570731252039,
      "borrowing_costs_quote_units": 66.82418378610748,
      "price_pnl_quote_units": -802.759693269333,
      "turnover_quote_units": 80626.17885420058,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8325.395244331261,
      "return_pct": -16.746047556687394,
      "cagr_pct": -16.763471878884047,
      "max_drawdown_pct": 44.88101532467365,
      "mean_exposure_while_solvent": 1.31018057947068,
      "realized_annual_volatility_pct": 55.98979757033044,
      "trading_costs_quote_units": 43.345004317619804,
      "borrowing_costs_quote_units": 179.43989654336815,
      "price_pnl_quote_units": -1451.819854807747,
      "turnover_quote_units": 72241.67386269961,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8194.215183153085,
      "return_pct": -18.05784816846916,
      "cagr_pct": -18.076483925576163,
      "max_drawdown_pct": 47.817192042664104,
      "mean_exposure_while_solvent": 1.4678134513691097,
      "realized_annual_volatility_pct": 64.95266750861856,
      "trading_costs_quote_units": 38.25041197708769,
      "borrowing_costs_quote_units": 254.41209306591512,
      "price_pnl_quote_units": -1513.1223118038988,
      "turnover_quote_units": 63750.686628479496,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8292.714171601763,
      "return_pct": -17.072858283982374,
      "cagr_pct": -17.090586637261715,
      "max_drawdown_pct": 44.50303289283008,
      "mean_exposure_while_solvent": 1.335745042234887,
      "realized_annual_volatility_pct": 56.546729898666925,
      "trading_costs_quote_units": 62.67871031377243,
      "borrowing_costs_quote_units": 195.21059440140223,
      "price_pnl_quote_units": -1449.3965236830466,
      "turnover_quote_units": 104464.5171896206,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8151.795963103165,
      "return_pct": -18.482040368968345,
      "cagr_pct": -18.501062745272947,
      "max_drawdown_pct": 46.968888565012676,
      "mean_exposure_while_solvent": 1.3080624368813831,
      "realized_annual_volatility_pct": 55.8838913833115,
      "trading_costs_quote_units": 32.01836438379508,
      "borrowing_costs_quote_units": 177.18667490396405,
      "price_pnl_quote_units": -1638.9989976090585,
      "turnover_quote_units": 53363.94063965847,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9296.089420759487,
      "return_pct": -7.039105792405131,
      "cagr_pct": -7.046854823079938,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9910958296345229,
      "realized_annual_volatility_pct": 43.87541261318208,
      "trading_costs_quote_units": 8.170281881080108,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -695.7402973594336,
      "turnover_quote_units": 13617.136468466846,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9611.868568646032,
      "return_pct": -3.8813143135396744,
      "cagr_pct": -3.8856598039760852,
      "max_drawdown_pct": 26.821051023972686,
      "mean_exposure_while_solvent": 0.7488669268981974,
      "realized_annual_volatility_pct": 33.09943211378705,
      "trading_costs_quote_units": 11.114048749149546,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -377.0173826048114,
      "turnover_quote_units": 18523.41458191592,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9275.964785427472,
      "return_pct": -7.240352145725282,
      "cagr_pct": -7.248313970758737,
      "max_drawdown_pct": 34.367970352794956,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 44.17794839272634,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -718.0388124138167,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8722.346875044714,
      "return_pct": -12.776531249552859,
      "cagr_pct": -12.79014732357154,
      "max_drawdown_pct": 41.397020366154294,
      "mean_exposure_while_solvent": 1.2485276974965573,
      "realized_annual_volatility_pct": 55.28798670324149,
      "trading_costs_quote_units": 18.495582487128036,
      "borrowing_costs_quote_units": 133.82205404554065,
      "price_pnl_quote_units": -1125.3354884225978,
      "turnover_quote_units": 30825.970811880037,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8100.989684277786,
      "return_pct": -18.990103157222137,
      "cagr_pct": -19.00958527237096,
      "max_drawdown_pct": 47.817192042664125,
      "mean_exposure_while_solvent": 1.4985772436116083,
      "realized_annual_volatility_pct": 66.43459449616233,
      "trading_costs_quote_units": 35.06543637601484,
      "borrowing_costs_quote_units": 265.2755639151415,
      "price_pnl_quote_units": -1598.6693154310572,
      "turnover_quote_units": 58442.39396002469,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9030.614948576129,
      "return_pct": -9.693850514238711,
      "cagr_pct": -9.704366156940834,
      "max_drawdown_pct": 36.28348115937181,
      "mean_exposure_while_solvent": 0.9868405429687958,
      "realized_annual_volatility_pct": 41.10316095763678,
      "trading_costs_quote_units": 48.27329757999618,
      "borrowing_costs_quote_units": 133.2747982453311,
      "price_pnl_quote_units": -787.8369555985428,
      "turnover_quote_units": 80455.4959666603,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8193.736612804858,
      "return_pct": -18.062633871951416,
      "cagr_pct": -18.08127400489088,
      "max_drawdown_pct": 45.02163555184578,
      "mean_exposure_while_solvent": 1.3102065957716937,
      "realized_annual_volatility_pct": 55.991141526093266,
      "trading_costs_quote_units": 43.107130934797446,
      "borrowing_costs_quote_units": 356.0633713968955,
      "price_pnl_quote_units": -1407.0928848634576,
      "turnover_quote_units": 71845.21822466236,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8004.408310271937,
      "return_pct": -19.955916897280634,
      "cagr_pct": -19.976262901377734,
      "max_drawdown_pct": 47.98256481999255,
      "mean_exposure_while_solvent": 1.4678531457070272,
      "realized_annual_volatility_pct": 64.9546886439999,
      "trading_costs_quote_units": 37.95177714348115,
      "borrowing_costs_quote_units": 502.90537347389306,
      "price_pnl_quote_units": -1454.7345391106776,
      "turnover_quote_units": 63252.961905801916,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8147.457066054956,
      "return_pct": -18.52542933945044,
      "cagr_pct": -18.544491119503316,
      "max_drawdown_pct": 44.62944989953731,
      "mean_exposure_while_solvent": 1.3357743505309865,
      "realized_annual_volatility_pct": 56.548289761413514,
      "trading_costs_quote_units": 62.24044634250148,
      "borrowing_costs_quote_units": 386.9740920094237,
      "price_pnl_quote_units": -1403.3283955931176,
      "turnover_quote_units": 103734.07723750257,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8025.713779238653,
      "return_pct": -19.742862207613467,
      "cagr_pct": -19.763018780809436,
      "max_drawdown_pct": 47.1336901795875,
      "mean_exposure_while_solvent": 1.3080878893904293,
      "realized_annual_volatility_pct": 55.88531442135524,
      "trading_costs_quote_units": 31.8578464886433,
      "borrowing_costs_quote_units": 351.7058785420768,
      "price_pnl_quote_units": -1590.7224957306341,
      "turnover_quote_units": 53096.41081440552,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9296.089420759487,
      "return_pct": -7.039105792405131,
      "cagr_pct": -7.046854823079938,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9910958296345229,
      "realized_annual_volatility_pct": 43.87541261318208,
      "trading_costs_quote_units": 8.170281881080108,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -695.7402973594336,
      "turnover_quote_units": 13617.136468466846,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9611.868568646032,
      "return_pct": -3.8813143135396744,
      "cagr_pct": -3.8856598039760852,
      "max_drawdown_pct": 26.821051023972686,
      "mean_exposure_while_solvent": 0.7488669268981974,
      "realized_annual_volatility_pct": 33.09943211378705,
      "trading_costs_quote_units": 11.114048749149546,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -377.0173826048114,
      "turnover_quote_units": 18523.41458191592,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9275.964785427472,
      "return_pct": -7.240352145725282,
      "cagr_pct": -7.248313970758737,
      "max_drawdown_pct": 34.367970352794956,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 44.17794839272634,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -718.0388124138167,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8614.166125013438,
      "return_pct": -13.858338749865617,
      "cagr_pct": -13.87301355778375,
      "max_drawdown_pct": 41.48968874685253,
      "mean_exposure_while_solvent": 1.248545504873751,
      "realized_annual_volatility_pct": 55.28889012975331,
      "trading_costs_quote_units": 18.427629940386414,
      "borrowing_costs_quote_units": 265.9729524969131,
      "price_pnl_quote_units": -1101.4332925492513,
      "turnover_quote_units": 30712.71656731067,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7901.208871197759,
      "return_pct": -20.98791128802241,
      "cagr_pct": -21.009165651590745,
      "max_drawdown_pct": 47.98256481999253,
      "mean_exposure_while_solvent": 1.4986200195526898,
      "realized_annual_volatility_pct": 66.43677790547758,
      "trading_costs_quote_units": 34.75390681630067,
      "borrowing_costs_quote_units": 523.9387247779016,
      "price_pnl_quote_units": -1540.098497208043,
      "turnover_quote_units": 57923.17802716776,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8928.61203938748,
      "return_pct": -10.713879606125188,
      "cagr_pct": -10.725434674401939,
      "max_drawdown_pct": 36.35287101530419,
      "mean_exposure_while_solvent": 0.9868575430472468,
      "realized_annual_volatility_pct": 41.10392623735555,
      "trading_costs_quote_units": 48.069873029690726,
      "borrowing_costs_quote_units": 265.0633260146021,
      "price_pnl_quote_units": -758.2547615682155,
      "turnover_quote_units": 80116.45504948446,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7936.565188359207,
      "return_pct": -20.63434811640793,
      "cagr_pct": -20.65529299938729,
      "max_drawdown_pct": 45.30187341948536,
      "mean_exposure_while_solvent": 1.3102586388803972,
      "realized_annual_volatility_pct": 55.99385123302365,
      "trading_costs_quote_units": 42.64226160110313,
      "borrowing_costs_quote_units": 701.0309146887764,
      "price_pnl_quote_units": -1319.7616353509084,
      "turnover_quote_units": 71070.43600183856,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7637.78338807341,
      "return_pct": -23.62216611926591,
      "cagr_pct": -23.645668807018506,
      "max_drawdown_pct": 48.31183070222818,
      "mean_exposure_while_solvent": 1.4679325513183124,
      "realized_annual_volatility_pct": 64.95873527294225,
      "trading_costs_quote_units": 37.37102549911138,
      "borrowing_costs_quote_units": 982.6637231382286,
      "price_pnl_quote_units": -1342.1818632892844,
      "turnover_quote_units": 62285.04249851893,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7864.455797681987,
      "return_pct": -21.355442023180128,
      "cagr_pct": -21.377016176235593,
      "max_drawdown_pct": 44.88148497811786,
      "mean_exposure_while_solvent": 1.3358329792316563,
      "realized_annual_volatility_pct": 56.55143092967598,
      "trading_costs_quote_units": 61.38446304425937,
      "borrowing_costs_quote_units": 760.3923838351516,
      "price_pnl_quote_units": -1313.7673554385829,
      "turnover_quote_units": 102307.43840709899,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7779.304806867964,
      "return_pct": -22.20695193132036,
      "cagr_pct": -22.229259426258523,
      "max_drawdown_pct": 47.46184856628825,
      "mean_exposure_while_solvent": 1.3081388046896458,
      "realized_annual_volatility_pct": 55.88818333184368,
      "trading_costs_quote_units": 31.54410392402164,
      "borrowing_costs_quote_units": 692.8971836176624,
      "price_pnl_quote_units": -1496.253905590329,
      "turnover_quote_units": 52573.50654003603,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9296.089420759487,
      "return_pct": -7.039105792405131,
      "cagr_pct": -7.046854823079938,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9910958296345229,
      "realized_annual_volatility_pct": 43.87541261318208,
      "trading_costs_quote_units": 8.170281881080108,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -695.7402973594336,
      "turnover_quote_units": 13617.136468466846,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9611.868568646032,
      "return_pct": -3.8813143135396744,
      "cagr_pct": -3.8856598039760852,
      "max_drawdown_pct": 26.821051023972686,
      "mean_exposure_while_solvent": 0.7488669268981974,
      "realized_annual_volatility_pct": 33.09943211378705,
      "trading_costs_quote_units": 11.114048749149546,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -377.0173826048114,
      "turnover_quote_units": 18523.41458191592,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9275.964785427472,
      "return_pct": -7.240352145725282,
      "cagr_pct": -7.248313970758737,
      "max_drawdown_pct": 34.367970352794956,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 44.17794839272634,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -718.0388124138167,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8401.76485489387,
      "return_pct": -15.982351451061295,
      "cagr_pct": -15.999059601297875,
      "max_drawdown_pct": 41.674627559440665,
      "mean_exposure_while_solvent": 1.2485811251137207,
      "realized_annual_volatility_pct": 55.29069699674709,
      "trading_costs_quote_units": 18.29561550059126,
      "borrowing_costs_quote_units": 525.3413730853316,
      "price_pnl_quote_units": -1054.5981565201846,
      "turnover_quote_units": 30492.69250098544,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7516.199850737827,
      "return_pct": -24.838001492621732,
      "cagr_pct": -24.862507074509253,
      "max_drawdown_pct": 48.31183070222823,
      "mean_exposure_while_solvent": 1.4987055900007478,
      "realized_annual_volatility_pct": 66.44114516719685,
      "trading_costs_quote_units": 34.15133250187454,
      "borrowing_costs_quote_units": 1022.060518157377,
      "price_pnl_quote_units": -1427.5882986029105,
      "turnover_quote_units": 56918.88750312427,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8928.947501595856,
      "return_pct": -10.710524984041436,
      "cagr_pct": -10.722076655657645,
      "max_drawdown_pct": 36.35513744031663,
      "mean_exposure_while_solvent": 0.9876103759569796,
      "realized_annual_volatility_pct": 41.110908896504945,
      "trading_costs_quote_units": 245.4320296041249,
      "borrowing_costs_quote_units": 66.34500687064552,
      "price_pnl_quote_units": -759.275461929377,
      "turnover_quote_units": 81810.67653470815,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8270.443230974692,
      "return_pct": -17.295567690253087,
      "cagr_pct": -17.313502386290907,
      "max_drawdown_pct": 44.90562828759921,
      "mean_exposure_while_solvent": 1.311232751159073,
      "realized_annual_volatility_pct": 55.96613185107646,
      "trading_costs_quote_units": 220.29398244597985,
      "borrowing_costs_quote_units": 179.467603044256,
      "price_pnl_quote_units": -1329.7951835350573,
      "turnover_quote_units": 73431.32748199331,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8153.872864946724,
      "return_pct": -18.46127135053276,
      "cagr_pct": -18.48027485608352,
      "max_drawdown_pct": 47.69900692916915,
      "mean_exposure_while_solvent": 1.4689312829313819,
      "realized_annual_volatility_pct": 64.83910111769,
      "trading_costs_quote_units": 193.2314506875105,
      "borrowing_costs_quote_units": 254.10127959003026,
      "price_pnl_quote_units": -1398.7944047757403,
      "turnover_quote_units": 64410.483562503505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8140.052567396582,
      "return_pct": -18.599474326034183,
      "cagr_pct": -18.618603289127975,
      "max_drawdown_pct": 44.05265044506379,
      "mean_exposure_while_solvent": 1.3370101586945868,
      "realized_annual_volatility_pct": 56.32164571628957,
      "trading_costs_quote_units": 315.52280759597033,
      "borrowing_costs_quote_units": 192.38944450105984,
      "price_pnl_quote_units": -1352.035180506367,
      "turnover_quote_units": 105174.26919865682,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8111.24308629449,
      "return_pct": -18.887569137055095,
      "cagr_pct": -18.906958763246983,
      "max_drawdown_pct": 46.767149389844256,
      "mean_exposure_while_solvent": 1.3090841048744801,
      "realized_annual_volatility_pct": 55.82919431079251,
      "trading_costs_quote_units": 162.03259776510737,
      "borrowing_costs_quote_units": 176.4525292754325,
      "price_pnl_quote_units": -1550.2717866649766,
      "turnover_quote_units": 54010.86592170252,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9305.163533498628,
      "return_pct": -6.948364665013729,
      "cagr_pct": -6.956017584623375,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9920199586890243,
      "realized_annual_volatility_pct": 43.88211932574812,
      "trading_costs_quote_units": 40.60276340255963,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -654.2337030988152,
      "turnover_quote_units": 13534.254467519879,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9620.45100735376,
      "return_pct": -3.795489926462392,
      "cagr_pct": -3.799741239822505,
      "max_drawdown_pct": 26.911148473876178,
      "mean_exposure_while_solvent": 0.7496317082954693,
      "realized_annual_volatility_pct": 33.143095241594004,
      "trading_costs_quote_units": 56.213689568507455,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -323.3353030777353,
      "turnover_quote_units": 18737.896522835825,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9327.736703939763,
      "return_pct": -6.72263296060237,
      "cagr_pct": -6.730046351357588,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 44.1922541268662,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -642.3530268678131,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8756.264978291372,
      "return_pct": -12.437350217086273,
      "cagr_pct": -12.450631176861673,
      "max_drawdown_pct": 41.34397273415114,
      "mean_exposure_while_solvent": 1.2495219790101881,
      "realized_annual_volatility_pct": 55.25509697744057,
      "trading_costs_quote_units": 93.64099055659136,
      "borrowing_costs_quote_units": 134.53552162276915,
      "price_pnl_quote_units": -1015.5585095292628,
      "turnover_quote_units": 31213.663518863825,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8109.905403378218,
      "return_pct": -18.90094596621782,
      "cagr_pct": -18.920347667144178,
      "max_drawdown_pct": 47.69900692916911,
      "mean_exposure_while_solvent": 1.4995760093129413,
      "realized_annual_volatility_pct": 66.33228261043153,
      "trading_costs_quote_units": 177.9936264142799,
      "borrowing_costs_quote_units": 266.3110646375283,
      "price_pnl_quote_units": -1445.7899055699852,
      "turnover_quote_units": 59331.208804759895,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8878.367707139805,
      "return_pct": -11.21632292860195,
      "cagr_pct": -11.228385106548492,
      "max_drawdown_pct": 36.38841332590085,
      "mean_exposure_while_solvent": 0.9876188641403713,
      "realized_annual_volatility_pct": 41.11142207485665,
      "trading_costs_quote_units": 244.9270333564715,
      "borrowing_costs_quote_units": 132.31998249408235,
      "price_pnl_quote_units": -744.3852770096438,
      "turnover_quote_units": 81642.34445215715,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8139.5340107623215,
      "return_pct": -18.604659892376784,
      "cagr_pct": -18.6237935575927,
      "max_drawdown_pct": 45.04571843234862,
      "mean_exposure_while_solvent": 1.3112587880603852,
      "realized_annual_volatility_pct": 55.967732276852686,
      "trading_costs_quote_units": 219.1121449018399,
      "borrowing_costs_quote_units": 356.12005328918866,
      "price_pnl_quote_units": -1285.2337910466258,
      "turnover_quote_units": 73037.38163394672,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7964.809496452713,
      "return_pct": -20.35190503547287,
      "cagr_pct": -20.372601396630714,
      "max_drawdown_pct": 47.86473955198248,
      "mean_exposure_while_solvent": 1.4689710183056375,
      "realized_annual_volatility_pct": 64.84170748445379,
      "trading_costs_quote_units": 191.75105921097844,
      "borrowing_costs_quote_units": 502.29870261110625,
      "price_pnl_quote_units": -1341.1407417251887,
      "turnover_quote_units": 63917.01973699277,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7997.284047064568,
      "return_pct": -20.02715952935432,
      "cagr_pct": -20.047568732068918,
      "max_drawdown_pct": 44.17906320684847,
      "mean_exposure_while_solvent": 1.3370395201220837,
      "realized_annual_volatility_pct": 56.323505159130974,
      "trading_costs_quote_units": 313.347277078079,
      "borrowing_costs_quote_units": 381.383215230624,
      "price_pnl_quote_units": -1307.9854606267036,
      "turnover_quote_units": 104449.09235935968,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7985.652019153278,
      "return_pct": -20.143479808467212,
      "cagr_pct": -20.163992041771643,
      "max_drawdown_pct": 46.932278605239894,
      "mean_exposure_while_solvent": 1.3091095794963878,
      "realized_annual_volatility_pct": 55.830904858053465,
      "trading_costs_quote_units": 161.29688750131848,
      "borrowing_costs_quote_units": 350.24857658025786,
      "price_pnl_quote_units": -1502.8025167651215,
      "turnover_quote_units": 53765.62916710614,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9305.163533498628,
      "return_pct": -6.948364665013729,
      "cagr_pct": -6.956017584623375,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9920199586890243,
      "realized_annual_volatility_pct": 43.88211932574812,
      "trading_costs_quote_units": 40.60276340255963,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -654.2337030988152,
      "turnover_quote_units": 13534.254467519879,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9620.45100735376,
      "return_pct": -3.795489926462392,
      "cagr_pct": -3.799741239822505,
      "max_drawdown_pct": 26.911148473876178,
      "mean_exposure_while_solvent": 0.7496317082954693,
      "realized_annual_volatility_pct": 33.143095241594004,
      "trading_costs_quote_units": 56.213689568507455,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -323.3353030777353,
      "turnover_quote_units": 18737.896522835825,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9327.736703939763,
      "return_pct": -6.72263296060237,
      "cagr_pct": -6.730046351357588,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 44.1922541268662,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -642.3530268678131,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8647.553422940144,
      "return_pct": -13.52446577059856,
      "cagr_pct": -13.538815474605487,
      "max_drawdown_pct": 41.436723457893834,
      "mean_exposure_while_solvent": 1.2495398022802828,
      "realized_annual_volatility_pct": 55.25626095938151,
      "trading_costs_quote_units": 93.316549015003,
      "borrowing_costs_quote_units": 267.3902065355698,
      "price_pnl_quote_units": -991.739821509302,
      "turnover_quote_units": 31105.516338334335,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7909.6949267692435,
      "return_pct": -20.90305073230756,
      "cagr_pct": -20.924230980449114,
      "max_drawdown_pct": 47.864739551982424,
      "mean_exposure_while_solvent": 1.4996188090138964,
      "realized_annual_volatility_pct": 66.3350859342856,
      "trading_costs_quote_units": 176.44860823372812,
      "borrowing_costs_quote_units": 525.9870521570421,
      "price_pnl_quote_units": -1387.8694128399698,
      "turnover_quote_units": 58816.202744576054,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8778.041053829253,
      "return_pct": -12.21958946170747,
      "cagr_pct": -12.232654479610192,
      "max_drawdown_pct": 36.45492984852123,
      "mean_exposure_while_solvent": 0.9876358434279974,
      "realized_annual_volatility_pct": 41.11246719249853,
      "trading_costs_quote_units": 243.9256103415045,
      "borrowing_costs_quote_units": 263.1677579517299,
      "price_pnl_quote_units": -714.8655778775136,
      "turnover_quote_units": 81308.53678050151,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7883.825473334484,
      "return_pct": -21.161745266655164,
      "cagr_pct": -21.183151127756148,
      "max_drawdown_pct": 45.324903109295164,
      "mean_exposure_while_solvent": 1.311310872375466,
      "realized_annual_volatility_pct": 55.97095492861954,
      "trading_costs_quote_units": 216.79963921820925,
      "borrowing_costs_quote_units": 701.148925414102,
      "price_pnl_quote_units": -1198.2259620332322,
      "turnover_quote_units": 72266.54640606977,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7599.6157700641925,
      "return_pct": -24.00384229935808,
      "cagr_pct": -24.027662215647204,
      "max_drawdown_pct": 48.194721495995594,
      "mean_exposure_while_solvent": 1.4690505060117418,
      "realized_annual_volatility_pct": 64.8469249474331,
      "trading_costs_quote_units": 188.87845450363167,
      "borrowing_costs_quote_units": 981.5077860648028,
      "price_pnl_quote_units": -1229.9979893673417,
      "turnover_quote_units": 62959.484834543975,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7719.134860671321,
      "return_pct": -22.808651393286794,
      "cagr_pct": -22.831470669842314,
      "max_drawdown_pct": 44.43109660966502,
      "mean_exposure_while_solvent": 1.337098255115478,
      "realized_annual_volatility_pct": 56.32724565338414,
      "trading_costs_quote_units": 309.0920057527298,
      "borrowing_costs_quote_units": 749.412729165141,
      "price_pnl_quote_units": -1222.3604044108042,
      "turnover_quote_units": 103030.66858424332,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7740.209499252495,
      "return_pct": -22.59790500747505,
      "cagr_pct": -22.620545639437967,
      "max_drawdown_pct": 47.261091725007766,
      "mean_exposure_while_solvent": 1.3091605390311902,
      "realized_annual_volatility_pct": 55.83434912625883,
      "trading_costs_quote_units": 159.84692924422782,
      "borrowing_costs_quote_units": 690.0261085201557,
      "price_pnl_quote_units": -1409.917462983131,
      "turnover_quote_units": 53282.309748075946,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9305.163533498628,
      "return_pct": -6.948364665013729,
      "cagr_pct": -6.956017584623375,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9920199586890243,
      "realized_annual_volatility_pct": 43.88211932574812,
      "trading_costs_quote_units": 40.60276340255963,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -654.2337030988152,
      "turnover_quote_units": 13534.254467519879,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9620.45100735376,
      "return_pct": -3.795489926462392,
      "cagr_pct": -3.799741239822505,
      "max_drawdown_pct": 26.911148473876178,
      "mean_exposure_while_solvent": 0.7496317082954693,
      "realized_annual_volatility_pct": 33.143095241594004,
      "trading_costs_quote_units": 56.213689568507455,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -323.3353030777353,
      "turnover_quote_units": 18737.896522835825,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9327.736703939763,
      "return_pct": -6.72263296060237,
      "cagr_pct": -6.730046351357588,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9995433789954338,
      "realized_annual_volatility_pct": 44.1922541268662,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -642.3530268678131,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8434.109381453163,
      "return_pct": -15.658906185468368,
      "cagr_pct": -15.67530862180074,
      "max_drawdown_pct": 41.62182636370109,
      "mean_exposure_while_solvent": 1.2495754543124904,
      "realized_annual_volatility_pct": 55.258588847699606,
      "trading_costs_quote_units": 92.68285647321595,
      "borrowing_costs_quote_units": 528.1376329533755,
      "price_pnl_quote_units": -945.0701291202276,
      "turnover_quote_units": 30894.285491071987,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7523.86317906841,
      "return_pct": -24.761368209315894,
      "cagr_pct": -24.78581123949423,
      "max_drawdown_pct": 48.194721495995616,
      "mean_exposure_while_solvent": 1.4997044269922906,
      "realized_annual_volatility_pct": 66.34069291994435,
      "trading_costs_quote_units": 173.44858632769362,
      "borrowing_costs_quote_units": 1026.0687406065563,
      "price_pnl_quote_units": -1276.6194939973407,
      "turnover_quote_units": 57816.19544256458,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8918.584751042396,
      "return_pct": -10.814152489576045,
      "cagr_pct": -10.825809020758204,
      "max_drawdown_pct": 36.41804333555982,
      "mean_exposure_while_solvent": 0.9868320443935368,
      "realized_annual_volatility_pct": 41.09851250719651,
      "trading_costs_quote_units": 239.6362069646733,
      "borrowing_costs_quote_units": 66.05427367352401,
      "price_pnl_quote_units": -775.724768319427,
      "turnover_quote_units": 79878.73565489109,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8183.399622189916,
      "return_pct": -18.166003778100837,
      "cagr_pct": -18.184738349824553,
      "max_drawdown_pct": 45.02333965648007,
      "mean_exposure_while_solvent": 1.31018057947068,
      "realized_annual_volatility_pct": 55.98693681786578,
      "trading_costs_quote_units": 214.82373507734215,
      "borrowing_costs_quote_units": 177.41022376257936,
      "price_pnl_quote_units": -1424.3664189701622,
      "turnover_quote_units": 71607.91169244748,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8071.651497820192,
      "return_pct": -19.283485021798075,
      "cagr_pct": -19.303230956594344,
      "max_drawdown_pct": 47.903509552170235,
      "mean_exposure_while_solvent": 1.4678134513691097,
      "realized_annual_volatility_pct": 64.95111354834461,
      "trading_costs_quote_units": 189.7389466592095,
      "borrowing_costs_quote_units": 251.79984940557102,
      "price_pnl_quote_units": -1486.8097061150363,
      "turnover_quote_units": 63246.31555306978,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8083.437605007195,
      "return_pct": -19.165623949928047,
      "cagr_pct": -19.1852640459961,
      "max_drawdown_pct": 44.75847140893106,
      "mean_exposure_while_solvent": 1.335745042234887,
      "realized_annual_volatility_pct": 56.54025672993045,
      "trading_costs_quote_units": 309.38461577365007,
      "borrowing_costs_quote_units": 192.1916879015539,
      "price_pnl_quote_units": -1414.9860913176076,
      "turnover_quote_units": 103128.20525788351,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8051.4893773552685,
      "return_pct": -19.485106226447314,
      "cagr_pct": -19.50503275993264,
      "max_drawdown_pct": 47.07084045879738,
      "mean_exposure_while_solvent": 1.3080624368813831,
      "realized_annual_volatility_pct": 55.88360355056709,
      "trading_costs_quote_units": 159.05139123369827,
      "borrowing_costs_quote_units": 175.68366363783144,
      "price_pnl_quote_units": -1613.7755677732143,
      "turnover_quote_units": 53017.13041123277,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9264.931096317448,
      "return_pct": -7.3506890368255196,
      "cagr_pct": -7.358767318353694,
      "max_drawdown_pct": 34.36797035279493,
      "mean_exposure_while_solvent": 0.9910958296345229,
      "realized_annual_volatility_pct": 43.875195711416595,
      "trading_costs_quote_units": 40.74860988670678,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -694.3202937958456,
      "turnover_quote_units": 13582.869962235594,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9570.279276432513,
      "return_pct": -4.297207235674872,
      "cagr_pct": -4.302007852565929,
      "max_drawdown_pct": 26.8503369651535,
      "mean_exposure_while_solvent": 0.7488669268981974,
      "realized_annual_volatility_pct": 33.09959446674729,
      "trading_costs_quote_units": 55.42796914763165,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -374.29275441984794,
      "turnover_quote_units": 18475.989715877193,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9253.769057127347,
      "return_pct": -7.462309428726533,
      "cagr_pct": -7.470505368576514,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 44.17890583612634,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -716.3206736802333,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8659.438534470966,
      "return_pct": -13.405614655290332,
      "cagr_pct": -13.419848273816607,
      "max_drawdown_pct": 41.43702298629612,
      "mean_exposure_while_solvent": 1.2485276974965573,
      "realized_annual_volatility_pct": 55.28827167860288,
      "trading_costs_quote_units": 92.08864784513123,
      "borrowing_costs_quote_units": 133.1163146178256,
      "price_pnl_quote_units": -1115.356503066086,
      "turnover_quote_units": 30696.215948377037,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7989.959177123934,
      "return_pct": -20.100408228760656,
      "cagr_pct": -20.12088233401468,
      "max_drawdown_pct": 47.90350955217024,
      "mean_exposure_while_solvent": 1.4985772436116083,
      "realized_annual_volatility_pct": 66.43389197837118,
      "trading_costs_quote_units": 174.0493324370277,
      "borrowing_costs_quote_units": 262.8760261779357,
      "price_pnl_quote_units": -1573.1154642610752,
      "turnover_quote_units": 58016.444145675894,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8868.085431973592,
      "return_pct": -11.319145680264086,
      "cagr_pct": -11.331311235822568,
      "max_drawdown_pct": 36.45275089350272,
      "mean_exposure_while_solvent": 0.9868405429687958,
      "realized_annual_volatility_pct": 41.09888408577259,
      "trading_costs_quote_units": 239.13200853918613,
      "borrowing_costs_quote_units": 131.73979737651095,
      "price_pnl_quote_units": -761.0427621107169,
      "turnover_quote_units": 79710.66951306205,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8053.990647541214,
      "return_pct": -19.46009352458786,
      "cagr_pct": -19.479997684708977,
      "max_drawdown_pct": 45.16370806617546,
      "mean_exposure_while_solvent": 1.3102065957716937,
      "realized_annual_volatility_pct": 55.98828008897707,
      "trading_costs_quote_units": 213.6524646689141,
      "borrowing_costs_quote_units": 352.03945353566337,
      "price_pnl_quote_units": -1380.3174342542284,
      "turnover_quote_units": 71217.48822297138,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7884.696242136465,
      "return_pct": -21.15303757863535,
      "cagr_pct": -21.174435861340825,
      "max_drawdown_pct": 48.0687638447089,
      "mean_exposure_while_solvent": 1.4678531457070272,
      "realized_annual_volatility_pct": 64.95314384725675,
      "trading_costs_quote_units": 188.26669673095108,
      "borrowing_costs_quote_units": 497.7513340846655,
      "price_pnl_quote_units": -1429.2857270479303,
      "turnover_quote_units": 62755.56557698375,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7941.845463595266,
      "return_pct": -20.581545364047336,
      "cagr_pct": -20.60244387305416,
      "max_drawdown_pct": 44.88445913376684,
      "mean_exposure_while_solvent": 1.3357743505309865,
      "realized_annual_volatility_pct": 56.5418201009257,
      "trading_costs_quote_units": 307.2375775395346,
      "borrowing_costs_quote_units": 380.996069292599,
      "price_pnl_quote_units": -1369.9208895725899,
      "turnover_quote_units": 102412.52584651153,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7926.968351280919,
      "return_pct": -20.730316487190812,
      "cagr_pct": -20.75134555147617,
      "max_drawdown_pct": 47.23549293707152,
      "mean_exposure_while_solvent": 1.3080878893904293,
      "realized_annual_volatility_pct": 55.88503292712367,
      "trading_costs_quote_units": 158.2587415971928,
      "borrowing_costs_quote_units": 348.72608179533967,
      "price_pnl_quote_units": -1566.0468253265283,
      "turnover_quote_units": 52752.913865730916,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9264.931096317448,
      "return_pct": -7.3506890368255196,
      "cagr_pct": -7.358767318353694,
      "max_drawdown_pct": 34.36797035279493,
      "mean_exposure_while_solvent": 0.9910958296345229,
      "realized_annual_volatility_pct": 43.875195711416595,
      "trading_costs_quote_units": 40.74860988670678,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -694.3202937958456,
      "turnover_quote_units": 13582.869962235594,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9570.279276432513,
      "return_pct": -4.297207235674872,
      "cagr_pct": -4.302007852565929,
      "max_drawdown_pct": 26.8503369651535,
      "mean_exposure_while_solvent": 0.7488669268981974,
      "realized_annual_volatility_pct": 33.09959446674729,
      "trading_costs_quote_units": 55.42796914763165,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -374.29275441984794,
      "turnover_quote_units": 18475.989715877193,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9253.769057127347,
      "return_pct": -7.462309428726533,
      "cagr_pct": -7.470505368576514,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 44.17890583612634,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -716.3206736802333,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8552.042769631485,
      "return_pct": -14.47957230368514,
      "cagr_pct": -14.494848087128656,
      "max_drawdown_pct": 41.529697657291386,
      "mean_exposure_while_solvent": 1.248545504873751,
      "realized_annual_volatility_pct": 55.289183428027854,
      "trading_costs_quote_units": 91.75231242123421,
      "borrowing_costs_quote_units": 264.5713777446507,
      "price_pnl_quote_units": -1091.6335402026336,
      "turnover_quote_units": 30584.104140411408,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7792.920755795224,
      "return_pct": -22.07079244204776,
      "cagr_pct": -22.09298338556498,
      "max_drawdown_pct": 48.06876384470892,
      "mean_exposure_while_solvent": 1.4986200195526898,
      "realized_annual_volatility_pct": 66.43609649058631,
      "trading_costs_quote_units": 172.5118366903704,
      "borrowing_costs_quote_units": 519.2090435239389,
      "price_pnl_quote_units": -1515.358363990469,
      "turnover_quote_units": 57503.94556345691,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8767.919229639367,
      "return_pct": -12.320807703606329,
      "cagr_pct": -12.333973171216012,
      "max_drawdown_pct": 36.522126898815756,
      "mean_exposure_while_solvent": 0.9868575430472468,
      "realized_annual_volatility_pct": 41.099645897485345,
      "trading_costs_quote_units": 238.13046943149828,
      "borrowing_costs_quote_units": 262.0124916221849,
      "price_pnl_quote_units": -731.937809306933,
      "turnover_quote_units": 79376.82314383275,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7801.206155150858,
      "return_pct": -21.987938448491416,
      "cagr_pct": -22.01005833654799,
      "max_drawdown_pct": 45.443443269144964,
      "mean_exposure_while_solvent": 1.3102586388803972,
      "realized_annual_volatility_pct": 55.990988124713816,
      "trading_costs_quote_units": 211.3634057953845,
      "borrowing_costs_quote_units": 693.1221825314221,
      "price_pnl_quote_units": -1294.3082565223337,
      "turnover_quote_units": 70454.4685984615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7523.569339811217,
      "return_pct": -24.76430660188783,
      "cagr_pct": -24.78875203216655,
      "max_drawdown_pct": 48.39779238345637,
      "mean_exposure_while_solvent": 1.4679325513183124,
      "realized_annual_volatility_pct": 64.95720887253901,
      "trading_costs_quote_units": 185.40345572086878,
      "borrowing_costs_quote_units": 972.6301081375567,
      "price_pnl_quote_units": -1318.397096330345,
      "turnover_quote_units": 61801.15190695628,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7665.976051147903,
      "return_pct": -23.340239488520975,
      "cagr_pct": -23.36350645361781,
      "max_drawdown_pct": 45.13563735432522,
      "mean_exposure_while_solvent": 1.3358329792316563,
      "realized_annual_volatility_pct": 56.54496769679444,
      "trading_costs_quote_units": 303.0439427245738,
      "borrowing_costs_quote_units": 748.6708061148623,
      "price_pnl_quote_units": -1282.3092000126696,
      "turnover_quote_units": 101014.64757485807,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7683.602918974141,
      "return_pct": -23.163970810258583,
      "cagr_pct": -23.18708979233569,
      "max_drawdown_pct": 47.563352833915474,
      "mean_exposure_while_solvent": 1.3081388046896458,
      "realized_annual_volatility_pct": 55.887914210315095,
      "trading_costs_quote_units": 156.7094065645725,
      "borrowing_costs_quote_units": 687.0404545679978,
      "price_pnl_quote_units": -1472.6472198932925,
      "turnover_quote_units": 52236.468854857485,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9264.931096317448,
      "return_pct": -7.3506890368255196,
      "cagr_pct": -7.358767318353694,
      "max_drawdown_pct": 34.36797035279493,
      "mean_exposure_while_solvent": 0.9910958296345229,
      "realized_annual_volatility_pct": 43.875195711416595,
      "trading_costs_quote_units": 40.74860988670678,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -694.3202937958456,
      "turnover_quote_units": 13582.869962235594,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 31,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9570.279276432513,
      "return_pct": -4.297207235674872,
      "cagr_pct": -4.302007852565929,
      "max_drawdown_pct": 26.8503369651535,
      "mean_exposure_while_solvent": 0.7488669268981974,
      "realized_annual_volatility_pct": 33.09959446674729,
      "trading_costs_quote_units": 55.42796914763165,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -374.29275441984794,
      "turnover_quote_units": 18475.989715877193,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9253.769057127347,
      "return_pct": -7.462309428726533,
      "cagr_pct": -7.470505368576514,
      "max_drawdown_pct": 34.36797035279494,
      "mean_exposure_while_solvent": 0.9986301369863013,
      "realized_annual_volatility_pct": 44.17890583612634,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -716.3206736802333,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8341.175745793727,
      "return_pct": -16.588242542062726,
      "cagr_pct": -16.605519533322738,
      "max_drawdown_pct": 41.71464870198554,
      "mean_exposure_while_solvent": 1.2485811251137207,
      "realized_annual_volatility_pct": 55.29100635120422,
      "trading_costs_quote_units": 91.0989104902633,
      "borrowing_costs_quote_units": 522.5770331418903,
      "price_pnl_quote_units": -1045.1483105741074,
      "turnover_quote_units": 30366.303496754375,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2025",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7413.181910885044,
      "return_pct": -25.86818089114956,
      "cagr_pct": -25.893518647536297,
      "max_drawdown_pct": 48.39779238345629,
      "mean_exposure_while_solvent": 1.4987055900007478,
      "realized_annual_volatility_pct": 66.4405045690771,
      "trading_costs_quote_units": 169.5377788787497,
      "borrowing_costs_quote_units": 1012.8702429813314,
      "price_pnl_quote_units": -1404.4100672549073,
      "turnover_quote_units": 56512.59295958317,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 365,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8381.92471462888,
      "return_pct": -16.1807528537112,
      "cagr_pct": -42.40914143192844,
      "max_drawdown_pct": 38.24275497627371,
      "mean_exposure_while_solvent": 0.8988082689617691,
      "realized_annual_volatility_pct": 42.06614784367622,
      "trading_costs_quote_units": 17.14113411887074,
      "borrowing_costs_quote_units": 6.302805384189808,
      "price_pnl_quote_units": -1594.631345868055,
      "turnover_quote_units": 28568.556864784558,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8044.198161975935,
      "return_pct": -19.55801838024065,
      "cagr_pct": -49.35744030997517,
      "max_drawdown_pct": 47.98815279158608,
      "mean_exposure_while_solvent": 1.2900206977347257,
      "realized_annual_volatility_pct": 60.349234289213214,
      "trading_costs_quote_units": 18.910536204195747,
      "borrowing_costs_quote_units": 41.56549243804766,
      "price_pnl_quote_units": -1895.3258093818129,
      "turnover_quote_units": 31517.560340326247,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7931.621596984668,
      "return_pct": -20.68378403015332,
      "cagr_pct": -51.540314620726676,
      "max_drawdown_pct": 48.93522322823311,
      "mean_exposure_while_solvent": 1.4574242895820788,
      "realized_annual_volatility_pct": 68.77426017593066,
      "trading_costs_quote_units": 17.325630940790425,
      "borrowing_costs_quote_units": 59.248838943945,
      "price_pnl_quote_units": -1991.8039331305954,
      "turnover_quote_units": 28876.05156798406,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8117.764927502133,
      "return_pct": -18.822350724978666,
      "cagr_pct": -47.895416485406834,
      "max_drawdown_pct": 45.17944260508372,
      "mean_exposure_while_solvent": 1.3084063838104498,
      "realized_annual_volatility_pct": 60.22451679134767,
      "trading_costs_quote_units": 26.046717336615238,
      "borrowing_costs_quote_units": 45.498668549213505,
      "price_pnl_quote_units": -1810.6896866120508,
      "turnover_quote_units": 43411.195561025415,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7710.459572692898,
      "return_pct": -22.89540427307102,
      "cagr_pct": -55.64068021053682,
      "max_drawdown_pct": 48.014173107498095,
      "mean_exposure_while_solvent": 1.2552023903829463,
      "realized_annual_volatility_pct": 61.12816386303196,
      "trading_costs_quote_units": 15.283742756482985,
      "borrowing_costs_quote_units": 34.531954693201335,
      "price_pnl_quote_units": -2239.7247298574334,
      "turnover_quote_units": 25472.904594138323,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8790.869548440593,
      "return_pct": -12.09130451559407,
      "cagr_pct": -33.16104899914165,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9933885060074359,
      "realized_annual_volatility_pct": 47.018426801800906,
      "trading_costs_quote_units": 6.902240300787672,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1202.2282112586192,
      "turnover_quote_units": 11503.733834646117,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9141.923154592918,
      "return_pct": -8.58076845407082,
      "cagr_pct": -24.45708113098297,
      "max_drawdown_pct": 27.751274344457187,
      "mean_exposure_while_solvent": 0.7487863884074502,
      "realized_annual_volatility_pct": 35.49694383089969,
      "trading_costs_quote_units": 6.643462534664435,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -851.4333828724098,
      "turnover_quote_units": 11072.437557774047,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8783.438185294905,
      "return_pct": -12.16561814705095,
      "cagr_pct": -33.337530575366365,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9985754985754985,
      "realized_annual_volatility_pct": 47.39860095848706,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1210.5654125463889,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8355.835618008534,
      "return_pct": -16.441643819914663,
      "cagr_pct": -42.96768172500008,
      "max_drawdown_pct": 42.5146800317997,
      "mean_exposure_while_solvent": 1.2485282235432273,
      "realized_annual_volatility_pct": 59.348171117613255,
      "trading_costs_quote_units": 10.759139059855244,
      "borrowing_costs_quote_units": 33.187716948958034,
      "price_pnl_quote_units": -1600.2175259826479,
      "turnover_quote_units": 17931.898433092072,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7905.725873097616,
      "return_pct": -20.942741269023834,
      "cagr_pct": -52.03321814997317,
      "max_drawdown_pct": 48.93522322823311,
      "mean_exposure_while_solvent": 1.4986637430996559,
      "realized_annual_volatility_pct": 71.35240951631391,
      "trading_costs_quote_units": 16.453487930886322,
      "borrowing_costs_quote_units": 63.5456650382887,
      "price_pnl_quote_units": -2014.2749739331923,
      "turnover_quote_units": 27422.47988481052,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8376.625430839207,
      "return_pct": -16.233745691607925,
      "cagr_pct": -42.52289328967526,
      "max_drawdown_pct": 38.27787137127622,
      "mean_exposure_while_solvent": 0.8988110212476599,
      "realized_annual_volatility_pct": 42.067338985578004,
      "trading_costs_quote_units": 17.13813203819142,
      "borrowing_costs_quote_units": 12.602676480272176,
      "price_pnl_quote_units": -1593.6337606423283,
      "turnover_quote_units": 28563.5533969857,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8006.083069916653,
      "return_pct": -19.93916930083347,
      "cagr_pct": -50.10382724149627,
      "max_drawdown_pct": 48.068168423617664,
      "mean_exposure_while_solvent": 1.2900449497584845,
      "realized_annual_volatility_pct": 60.35158674347498,
      "trading_costs_quote_units": 18.884341044857166,
      "borrowing_costs_quote_units": 82.95781378232266,
      "price_pnl_quote_units": -1892.074775256158,
      "turnover_quote_units": 31473.901741428628,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7873.54803940275,
      "return_pct": -21.2645196059725,
      "cagr_pct": -52.640931325085916,
      "max_drawdown_pct": 49.015027405266146,
      "mean_exposure_while_solvent": 1.4574628189863859,
      "realized_annual_volatility_pct": 68.77709948858256,
      "trading_costs_quote_units": 17.30040556511562,
      "borrowing_costs_quote_units": 118.10895121687429,
      "price_pnl_quote_units": -1991.0426038152573,
      "turnover_quote_units": 28834.00927519269,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8075.0054798009805,
      "return_pct": -19.249945201990194,
      "cagr_pct": -48.74863643341617,
      "max_drawdown_pct": 45.26274348496732,
      "mean_exposure_while_solvent": 1.3084337134105504,
      "realized_annual_volatility_pct": 60.22668832194812,
      "trading_costs_quote_units": 26.00181245318224,
      "borrowing_costs_quote_units": 90.78532958482174,
      "price_pnl_quote_units": -1808.2073781610125,
      "turnover_quote_units": 43336.35408863708,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7678.769611209362,
      "return_pct": -23.212303887906383,
      "cagr_pct": -56.20816071012194,
      "max_drawdown_pct": 48.0900635093808,
      "mean_exposure_while_solvent": 1.2552218638918282,
      "realized_annual_volatility_pct": 61.131217419223574,
      "trading_costs_quote_units": 15.264921402057308,
      "borrowing_costs_quote_units": 68.94084225913154,
      "price_pnl_quote_units": -2237.024625129443,
      "turnover_quote_units": 25441.535670095505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8790.869548440593,
      "return_pct": -12.09130451559407,
      "cagr_pct": -33.16104899914165,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9933885060074359,
      "realized_annual_volatility_pct": 47.018426801800906,
      "trading_costs_quote_units": 6.902240300787672,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1202.2282112586192,
      "turnover_quote_units": 11503.733834646117,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9141.923154592918,
      "return_pct": -8.58076845407082,
      "cagr_pct": -24.45708113098297,
      "max_drawdown_pct": 27.751274344457187,
      "mean_exposure_while_solvent": 0.7487863884074502,
      "realized_annual_volatility_pct": 35.49694383089969,
      "trading_costs_quote_units": 6.643462534664435,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -851.4333828724098,
      "turnover_quote_units": 11072.437557774047,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8783.438185294905,
      "return_pct": -12.16561814705095,
      "cagr_pct": -33.337530575366365,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9985754985754985,
      "realized_annual_volatility_pct": 47.39860095848706,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1210.5654125463889,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8322.463289360863,
      "return_pct": -16.77536710639137,
      "cagr_pct": -43.676762874313575,
      "max_drawdown_pct": 42.55936908120129,
      "mean_exposure_while_solvent": 1.24854603700196,
      "realized_annual_volatility_pct": 59.349436579825856,
      "trading_costs_quote_units": 10.754691139546027,
      "borrowing_costs_quote_units": 66.25576420515473,
      "price_pnl_quote_units": -1600.5262552944423,
      "turnover_quote_units": 17924.485232576717,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7842.655776686054,
      "return_pct": -21.57344223313946,
      "cagr_pct": -53.21941778787852,
      "max_drawdown_pct": 49.015027405266146,
      "mean_exposure_while_solvent": 1.4987065452202053,
      "realized_annual_volatility_pct": 71.35546745583316,
      "trading_costs_quote_units": 16.43079644020954,
      "borrowing_costs_quote_units": 126.63499553316771,
      "price_pnl_quote_units": -2014.278431340565,
      "turnover_quote_units": 27384.660733682547,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8366.034603600565,
      "return_pct": -16.33965396399435,
      "cagr_pct": -42.74977279943109,
      "max_drawdown_pct": 38.34805989552071,
      "mean_exposure_while_solvent": 0.8988165266456084,
      "realized_annual_volatility_pct": 42.069727911947794,
      "trading_costs_quote_units": 17.13213130129194,
      "borrowing_costs_quote_units": 25.19361921331898,
      "price_pnl_quote_units": -1591.6396458848162,
      "turnover_quote_units": 28553.55216881988,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7930.372685295517,
      "return_pct": -20.69627314704483,
      "cagr_pct": -51.564165318463665,
      "max_drawdown_pct": 48.22788504558982,
      "mean_exposure_while_solvent": 1.290093463642373,
      "realized_annual_volatility_pct": 60.35631544164563,
      "trading_costs_quote_units": 18.834264973354816,
      "borrowing_costs_quote_units": 165.22586782948954,
      "price_pnl_quote_units": -1885.5671819016325,
      "turnover_quote_units": 31390.441622258022,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7758.64133723554,
      "return_pct": -22.413586627644598,
      "cagr_pct": -54.76832547966721,
      "max_drawdown_pct": 49.17431613823495,
      "mean_exposure_while_solvent": 1.4575398940339366,
      "realized_annual_volatility_pct": 68.78278204049015,
      "trading_costs_quote_units": 17.25232425226452,
      "borrowing_costs_quote_units": 234.67363670009632,
      "price_pnl_quote_units": -1989.432701812087,
      "turnover_quote_units": 28753.873753774198,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7990.137267515108,
      "return_pct": -20.098627324848916,
      "cagr_pct": -50.41385251636268,
      "max_drawdown_pct": 45.42902124020991,
      "mean_exposure_while_solvent": 1.3084883838897823,
      "realized_annual_volatility_pct": 60.23105472112261,
      "trading_costs_quote_units": 25.914440861380204,
      "borrowing_costs_quote_units": 180.72666712587983,
      "price_pnl_quote_units": -1803.2216244976225,
      "turnover_quote_units": 43190.734768967035,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7615.763770543037,
      "return_pct": -23.84236229456963,
      "cagr_pct": -57.32171796375752,
      "max_drawdown_pct": 48.24156095120992,
      "mean_exposure_while_solvent": 1.255260817829385,
      "realized_annual_volatility_pct": 61.137337784516056,
      "trading_costs_quote_units": 15.229121580766353,
      "borrowing_costs_quote_units": 137.39120151675812,
      "price_pnl_quote_units": -2231.615906359441,
      "turnover_quote_units": 25381.869301277256,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8790.869548440593,
      "return_pct": -12.09130451559407,
      "cagr_pct": -33.16104899914165,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9933885060074359,
      "realized_annual_volatility_pct": 47.018426801800906,
      "trading_costs_quote_units": 6.902240300787672,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1202.2282112586192,
      "turnover_quote_units": 11503.733834646117,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9141.923154592918,
      "return_pct": -8.58076845407082,
      "cagr_pct": -24.45708113098297,
      "max_drawdown_pct": 27.751274344457187,
      "mean_exposure_while_solvent": 0.7487863884074502,
      "realized_annual_volatility_pct": 35.49694383089969,
      "trading_costs_quote_units": 6.643462534664435,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -851.4333828724098,
      "turnover_quote_units": 11072.437557774047,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8783.438185294905,
      "return_pct": -12.16561814705095,
      "cagr_pct": -33.337530575366365,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9985754985754985,
      "realized_annual_volatility_pct": 47.39860095848706,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1210.5654125463889,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8256.102595443455,
      "return_pct": -17.43897404556545,
      "cagr_pct": -45.068906338067016,
      "max_drawdown_pct": 42.64866778697416,
      "mean_exposure_while_solvent": 1.2485816694081606,
      "realized_annual_volatility_pct": 59.35196771883743,
      "trading_costs_quote_units": 10.746681834119492,
      "borrowing_costs_quote_units": 132.03459883789776,
      "price_pnl_quote_units": -1601.1161238845232,
      "turnover_quote_units": 17911.136390199175,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7717.985676457187,
      "return_pct": -22.820143235428137,
      "cagr_pct": -55.50517722216225,
      "max_drawdown_pct": 49.22215850163673,
      "mean_exposure_while_solvent": 1.4987921680510188,
      "realized_annual_volatility_pct": 71.36158443872675,
      "trading_costs_quote_units": 16.387777509876788,
      "borrowing_costs_quote_units": 251.45835736594105,
      "price_pnl_quote_units": -2014.1681886670017,
      "turnover_quote_units": 27312.96251646132,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8352.656476031194,
      "return_pct": -16.47343523968806,
      "cagr_pct": -43.035490959485905,
      "max_drawdown_pct": 38.31245778520951,
      "mean_exposure_while_solvent": 0.8960278193273493,
      "realized_annual_volatility_pct": 42.17088686912004,
      "trading_costs_quote_units": 17.134776122115248,
      "borrowing_costs_quote_units": 6.243812334332816,
      "price_pnl_quote_units": -1623.9649355123581,
      "turnover_quote_units": 28557.960203525443,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8035.274921081267,
      "return_pct": -19.647250789187332,
      "cagr_pct": -49.53285530319848,
      "max_drawdown_pct": 47.9172133496331,
      "mean_exposure_while_solvent": 1.2857918853591144,
      "realized_annual_volatility_pct": 60.48106639190106,
      "trading_costs_quote_units": 18.686365227830173,
      "borrowing_costs_quote_units": 41.13587513701078,
      "price_pnl_quote_units": -1904.9028385538973,
      "turnover_quote_units": 31143.942046383636,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7893.984940649054,
      "return_pct": -21.060150593509462,
      "cagr_pct": -52.25556911879511,
      "max_drawdown_pct": 48.80517066286194,
      "mean_exposure_while_solvent": 1.4529878028764998,
      "realized_annual_volatility_pct": 68.73052892514538,
      "trading_costs_quote_units": 17.340327609725705,
      "borrowing_costs_quote_units": 58.69758184495869,
      "price_pnl_quote_units": -2029.9771498962598,
      "turnover_quote_units": 28900.546016209522,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8049.888961330104,
      "return_pct": -19.50111038669896,
      "cagr_pct": -49.245353059835075,
      "max_drawdown_pct": 45.17724582273347,
      "mean_exposure_while_solvent": 1.3039014124095012,
      "realized_annual_volatility_pct": 60.344806739538456,
      "trading_costs_quote_units": 26.07321765273891,
      "borrowing_costs_quote_units": 44.905732300307875,
      "price_pnl_quote_units": -1879.1320887168479,
      "turnover_quote_units": 43455.362754564834,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7727.9649346480965,
      "return_pct": -22.720350653519038,
      "cagr_pct": -55.32507291767808,
      "max_drawdown_pct": 47.88106322906316,
      "mean_exposure_while_solvent": 1.2514520517099421,
      "realized_annual_volatility_pct": 61.18350159983573,
      "trading_costs_quote_units": 14.94319766484506,
      "borrowing_costs_quote_units": 34.26396831106665,
      "price_pnl_quote_units": -2222.8278993759923,
      "turnover_quote_units": 24905.32944140843,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8744.948935266584,
      "return_pct": -12.550510647334157,
      "cagr_pct": -34.24651229622201,
      "max_drawdown_pct": 35.44897764487408,
      "mean_exposure_while_solvent": 0.9905633419289741,
      "realized_annual_volatility_pct": 47.017877935041554,
      "trading_costs_quote_units": 6.9107405011897605,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1248.1403242322274,
      "turnover_quote_units": 11517.90083531627,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9095.348600628779,
      "return_pct": -9.046513993712214,
      "cagr_pct": -25.653750729426317,
      "max_drawdown_pct": 27.7941370194705,
      "mean_exposure_while_solvent": 0.7467274849637123,
      "realized_annual_volatility_pct": 35.501422898238275,
      "trading_costs_quote_units": 6.670247236964489,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -897.9811521342571,
      "turnover_quote_units": 11117.078728274153,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8739.154946301502,
      "return_pct": -12.608450536984982,
      "cagr_pct": -34.382611849113886,
      "max_drawdown_pct": 35.44897764487408,
      "mean_exposure_while_solvent": 0.9957264957264956,
      "realized_annual_volatility_pct": 47.390644651441775,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1254.848651539795,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8321.521171392815,
      "return_pct": -16.78478828607185,
      "cagr_pct": -43.69669309905037,
      "max_drawdown_pct": 42.454942057054865,
      "mean_exposure_while_solvent": 1.244841410909699,
      "realized_annual_volatility_pct": 59.31765763446148,
      "trading_costs_quote_units": 10.794511391521915,
      "borrowing_costs_quote_units": 32.9030982031148,
      "price_pnl_quote_units": -1634.7812190125394,
      "turnover_quote_units": 17990.852319203215,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7887.755177999749,
      "return_pct": -21.12244822000251,
      "cagr_pct": -52.37326383588224,
      "max_drawdown_pct": 48.80517066286194,
      "mean_exposure_while_solvent": 1.4940945237452532,
      "realized_annual_volatility_pct": 71.28849172179217,
      "trading_costs_quote_units": 16.5333807519388,
      "borrowing_costs_quote_units": 63.04542192271128,
      "price_pnl_quote_units": -2032.6660193256162,
      "turnover_quote_units": 27555.634586564684,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8347.39324190158,
      "return_pct": -16.526067580984204,
      "cagr_pct": -43.14763208770689,
      "max_drawdown_pct": 38.34776275931085,
      "mean_exposure_while_solvent": 0.8960305683923565,
      "realized_annual_volatility_pct": 42.17196714581244,
      "trading_costs_quote_units": 17.131248028872974,
      "borrowing_costs_quote_units": 12.484727031287337,
      "price_pnl_quote_units": -1622.9907830382613,
      "turnover_quote_units": 28552.080048121636,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7997.392766018014,
      "return_pct": -20.026072339819855,
      "cagr_pct": -50.272950879053646,
      "max_drawdown_pct": 47.99731866530115,
      "mean_exposure_while_solvent": 1.2858159258115345,
      "realized_annual_volatility_pct": 60.48280397610858,
      "trading_costs_quote_units": 18.663628644769204,
      "borrowing_costs_quote_units": 82.10082311822656,
      "price_pnl_quote_units": -1901.8427822189954,
      "turnover_quote_units": 31106.04774128201,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7836.370779657644,
      "return_pct": -21.63629220342357,
      "cagr_pct": -53.336518880958074,
      "max_drawdown_pct": 48.88488133262789,
      "mean_exposure_while_solvent": 1.4530260962148636,
      "realized_annual_volatility_pct": 68.73280442800557,
      "trading_costs_quote_units": 17.313192402068893,
      "borrowing_costs_quote_units": 117.01087197656577,
      "price_pnl_quote_units": -2029.3051559637288,
      "turnover_quote_units": 28855.320670114845,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8007.671501969947,
      "return_pct": -19.923284980300537,
      "cagr_pct": -50.0728722389802,
      "max_drawdown_pct": 45.260964207520026,
      "mean_exposure_while_solvent": 1.303928486943594,
      "realized_annual_volatility_pct": 60.346502570159366,
      "trading_costs_quote_units": 26.029388178681355,
      "borrowing_costs_quote_units": 89.60304246622063,
      "price_pnl_quote_units": -1876.6960673851509,
      "turnover_quote_units": 43382.31363113557,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7696.346909557609,
      "return_pct": -23.036530904423902,
      "cagr_pct": -55.89401318709278,
      "max_drawdown_pct": 47.9567294541858,
      "mean_exposure_while_solvent": 1.2514714061352843,
      "realized_annual_volatility_pct": 61.185977278606515,
      "trading_costs_quote_units": 14.925429092803565,
      "borrowing_costs_quote_units": 68.4060802117133,
      "price_pnl_quote_units": -2220.321581137869,
      "turnover_quote_units": 24875.715154672595,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8744.948935266584,
      "return_pct": -12.550510647334157,
      "cagr_pct": -34.24651229622201,
      "max_drawdown_pct": 35.44897764487408,
      "mean_exposure_while_solvent": 0.9905633419289741,
      "realized_annual_volatility_pct": 47.017877935041554,
      "trading_costs_quote_units": 6.9107405011897605,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1248.1403242322274,
      "turnover_quote_units": 11517.90083531627,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9095.348600628779,
      "return_pct": -9.046513993712214,
      "cagr_pct": -25.653750729426317,
      "max_drawdown_pct": 27.7941370194705,
      "mean_exposure_while_solvent": 0.7467274849637123,
      "realized_annual_volatility_pct": 35.501422898238275,
      "trading_costs_quote_units": 6.670247236964489,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -897.9811521342571,
      "turnover_quote_units": 11117.078728274153,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8739.154946301502,
      "return_pct": -12.608450536984982,
      "cagr_pct": -34.382611849113886,
      "max_drawdown_pct": 35.44897764487408,
      "mean_exposure_while_solvent": 0.9957264957264956,
      "realized_annual_volatility_pct": 47.390644651441775,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1254.848651539795,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8288.383277938681,
      "return_pct": -17.11616722061319,
      "cagr_pct": -44.39466795648205,
      "max_drawdown_pct": 42.49954568467628,
      "mean_exposure_while_solvent": 1.2448591235060433,
      "realized_annual_volatility_pct": 59.3186698260873,
      "trading_costs_quote_units": 10.789338706235302,
      "borrowing_costs_quote_units": 65.68780191384356,
      "price_pnl_quote_units": -1635.1395814412342,
      "turnover_quote_units": 17982.23117705884,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7825.016316564971,
      "return_pct": -21.74983683435029,
      "cagr_pct": -53.54756777270284,
      "max_drawdown_pct": 48.88488133262789,
      "mean_exposure_while_solvent": 1.4941370756234822,
      "realized_annual_volatility_pct": 71.2909319004604,
      "trading_costs_quote_units": 16.508325381028303,
      "borrowing_costs_quote_units": 125.63867122349467,
      "price_pnl_quote_units": -2032.8366868305131,
      "turnover_quote_units": 27513.875635047152,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8336.874429385849,
      "return_pct": -16.631255706141513,
      "cagr_pct": -43.37130115540118,
      "max_drawdown_pct": 38.41832779398031,
      "mean_exposure_while_solvent": 0.8960360673495115,
      "realized_annual_volatility_pct": 42.17413407175115,
      "trading_costs_quote_units": 17.124195846401058,
      "borrowing_costs_quote_units": 24.957866858283676,
      "price_pnl_quote_units": -1621.043507909459,
      "turnover_quote_units": 28540.326410668455,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7922.14401433527,
      "return_pct": -20.778559856647295,
      "cagr_pct": -51.72111021240232,
      "max_drawdown_pct": 48.15720377042023,
      "mean_exposure_while_solvent": 1.2858640164354054,
      "realized_annual_volatility_pct": 60.48630303302131,
      "trading_costs_quote_units": 18.618348520249832,
      "borrowing_costs_quote_units": 163.52083237844744,
      "price_pnl_quote_units": -1895.7168047660182,
      "turnover_quote_units": 31030.580867083067,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7722.370486041953,
      "return_pct": -22.776295139580473,
      "cagr_pct": -55.42610171330028,
      "max_drawdown_pct": 49.04397426779889,
      "mean_exposure_while_solvent": 1.4531026989950866,
      "realized_annual_volatility_pct": 68.73736018232654,
      "trading_costs_quote_units": 17.25941390849305,
      "borrowing_costs_quote_units": 232.49509456396208,
      "price_pnl_quote_units": -2027.8750054855905,
      "turnover_quote_units": 28765.689847488415,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7923.877744475419,
      "return_pct": -20.761222555245816,
      "cagr_pct": -51.68807169596094,
      "max_drawdown_pct": 45.428062449679466,
      "mean_exposure_while_solvent": 1.3039826471462241,
      "realized_annual_volatility_pct": 60.34991846714147,
      "trading_costs_quote_units": 25.942094243342083,
      "borrowing_costs_quote_units": 178.37637157247647,
      "price_pnl_quote_units": -1871.8037897087677,
      "turnover_quote_units": 43236.82373890348,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7633.483514298239,
      "return_pct": -23.665164857017608,
      "cagr_pct": -57.01051176732339,
      "max_drawdown_pct": 48.10777306288953,
      "mean_exposure_while_solvent": 1.2515101218503983,
      "realized_annual_volatility_pct": 61.19094007517625,
      "trading_costs_quote_units": 14.890010823402534,
      "borrowing_costs_quote_units": 136.3265128977723,
      "price_pnl_quote_units": -2215.2999619805887,
      "turnover_quote_units": 24816.68470567091,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8744.948935266584,
      "return_pct": -12.550510647334157,
      "cagr_pct": -34.24651229622201,
      "max_drawdown_pct": 35.44897764487408,
      "mean_exposure_while_solvent": 0.9905633419289741,
      "realized_annual_volatility_pct": 47.017877935041554,
      "trading_costs_quote_units": 6.9107405011897605,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1248.1403242322274,
      "turnover_quote_units": 11517.90083531627,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9095.348600628779,
      "return_pct": -9.046513993712214,
      "cagr_pct": -25.653750729426317,
      "max_drawdown_pct": 27.7941370194705,
      "mean_exposure_while_solvent": 0.7467274849637123,
      "realized_annual_volatility_pct": 35.501422898238275,
      "trading_costs_quote_units": 6.670247236964489,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -897.9811521342571,
      "turnover_quote_units": 11117.078728274153,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8739.154946301502,
      "return_pct": -12.608450536984982,
      "cagr_pct": -34.382611849113886,
      "max_drawdown_pct": 35.44897764487408,
      "mean_exposure_while_solvent": 0.9957264957264956,
      "realized_annual_volatility_pct": 47.390644651441775,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1254.848651539795,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8222.488297137901,
      "return_pct": -17.77511702862099,
      "cagr_pct": -45.765067278329,
      "max_drawdown_pct": 42.58866908017811,
      "mean_exposure_while_solvent": 1.2448945541470875,
      "realized_annual_volatility_pct": 59.320694811677676,
      "trading_costs_quote_units": 10.779037525760698,
      "borrowing_costs_quote_units": 130.90375976445478,
      "price_pnl_quote_units": -1635.8289055718885,
      "turnover_quote_units": 17965.062542934484,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7700.998082685492,
      "return_pct": -22.990019173145082,
      "cagr_pct": -55.81063011898097,
      "max_drawdown_pct": 49.04397426779889,
      "mean_exposure_while_solvent": 1.494222197827128,
      "realized_annual_volatility_pct": 71.29581424921143,
      "trading_costs_quote_units": 16.45860174849128,
      "borrowing_costs_quote_units": 249.48223212054904,
      "price_pnl_quote_units": -2033.0610834454662,
      "turnover_quote_units": 27431.002914152126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8318.553879259947,
      "return_pct": -16.814461207400523,
      "cagr_pct": -43.759433934509666,
      "max_drawdown_pct": 38.36402982683011,
      "mean_exposure_while_solvent": 0.8988082689617691,
      "realized_annual_volatility_pct": 42.073043407050115,
      "trading_costs_quote_units": 85.36532915220496,
      "borrowing_costs_quote_units": 6.280850347172485,
      "price_pnl_quote_units": -1589.7999412406737,
      "turnover_quote_units": 28455.109717401658,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7972.965981560112,
      "return_pct": -20.270340184398883,
      "cagr_pct": -50.74623630351973,
      "max_drawdown_pct": 48.0422711541861,
      "mean_exposure_while_solvent": 1.2900206977347257,
      "realized_annual_volatility_pct": 60.34877348228641,
      "trading_costs_quote_units": 94.10029708501195,
      "borrowing_costs_quote_units": 41.33195262649799,
      "price_pnl_quote_units": -1891.6017687283672,
      "turnover_quote_units": 31366.76569500398,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7868.251801142832,
      "return_pct": -21.317481988571686,
      "cagr_pct": -52.740451936678156,
      "max_drawdown_pct": 48.978596159144615,
      "mean_exposure_while_solvent": 1.4574242895820788,
      "realized_annual_volatility_pct": 68.77974651695513,
      "trading_costs_quote_units": 86.24312417714185,
      "borrowing_costs_quote_units": 58.91310190175728,
      "price_pnl_quote_units": -1986.5919727782627,
      "turnover_quote_units": 28747.708059047276,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8015.822391269491,
      "return_pct": -19.841776087305085,
      "cagr_pct": -49.913824068649376,
      "max_drawdown_pct": 45.3897322323481,
      "mean_exposure_while_solvent": 1.3084063838104498,
      "realized_annual_volatility_pct": 60.224888887618945,
      "trading_costs_quote_units": 129.40560589079325,
      "borrowing_costs_quote_units": 45.16749725854299,
      "price_pnl_quote_units": -1809.604505581173,
      "turnover_quote_units": 43135.2019635978,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7656.888409155725,
      "return_pct": -23.431115908442756,
      "cagr_pct": -56.597098305132334,
      "max_drawdown_pct": 48.072966127837034,
      "mean_exposure_while_solvent": 1.2552023903829466,
      "realized_annual_volatility_pct": 61.13119362047096,
      "trading_costs_quote_units": 76.11912126959538,
      "borrowing_costs_quote_units": 34.372910415160064,
      "price_pnl_quote_units": -2232.6195591595338,
      "turnover_quote_units": 25373.040423198447,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8765.757343585301,
      "return_pct": -12.34242656414699,
      "cagr_pct": -33.756144374939964,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9933885060074359,
      "realized_annual_volatility_pct": 47.021278947943465,
      "trading_costs_quote_units": 34.427609156003506,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1199.815047258694,
      "turnover_quote_units": 11475.86971866783,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9116.655542203489,
      "return_pct": -8.83344457796511,
      "cagr_pct": -25.107910552408296,
      "max_drawdown_pct": 27.76607295755329,
      "mean_exposure_while_solvent": 0.7487863884074503,
      "realized_annual_volatility_pct": 35.49911191254297,
      "trading_costs_quote_units": 33.15186431223452,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -850.1925934842724,
      "turnover_quote_units": 11050.621437411499,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8762.42098525033,
      "return_pct": -12.375790147496701,
      "cagr_pct": -33.834935365613156,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9985754985754985,
      "realized_annual_volatility_pct": 47.40114994712147,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1207.6687455572473,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8317.355419509922,
      "return_pct": -16.82644580490078,
      "cagr_pct": -43.78476084637673,
      "max_drawdown_pct": 42.53481739621521,
      "mean_exposure_while_solvent": 1.2485282235432273,
      "realized_annual_volatility_pct": 59.35180547233093,
      "trading_costs_quote_units": 53.626117112516546,
      "borrowing_costs_quote_units": 33.06203807099802,
      "price_pnl_quote_units": -1595.956425306552,
      "turnover_quote_units": 17875.372370838864,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7846.714605502615,
      "return_pct": -21.53285394497385,
      "cagr_pct": -53.143688200422226,
      "max_drawdown_pct": 48.978596159144615,
      "mean_exposure_while_solvent": 1.4986637430996559,
      "realized_annual_volatility_pct": 71.35741297844964,
      "trading_costs_quote_units": 81.91697873414408,
      "borrowing_costs_quote_units": 63.198706067944016,
      "price_pnl_quote_units": -2008.1697096952978,
      "turnover_quote_units": 27305.659578048027,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8313.28715680677,
      "return_pct": -16.86712843193231,
      "cagr_pct": -43.87067711276892,
      "max_drawdown_pct": 38.399131321104484,
      "mean_exposure_while_solvent": 0.8988110212476598,
      "realized_annual_volatility_pct": 42.074238002708206,
      "trading_costs_quote_units": 85.35044237311907,
      "borrowing_costs_quote_units": 12.558773048536946,
      "price_pnl_quote_units": -1588.8036277715812,
      "turnover_quote_units": 28450.147457706375,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7935.191535183575,
      "return_pct": -20.648084648164243,
      "cagr_pct": -51.47209480309414,
      "max_drawdown_pct": 48.122316732329075,
      "mean_exposure_while_solvent": 1.2900449497584845,
      "realized_annual_volatility_pct": 60.351134809657935,
      "trading_costs_quote_units": 93.9708303368888,
      "borrowing_costs_quote_units": 82.49190875523132,
      "price_pnl_quote_units": -1888.3457257243188,
      "turnover_quote_units": 31323.610112296272,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7810.630663231364,
      "return_pct": -21.89369336768635,
      "cagr_pct": -53.81402481093489,
      "max_drawdown_pct": 49.0584465176403,
      "mean_exposure_while_solvent": 1.4574628189863859,
      "realized_annual_volatility_pct": 68.78261408029277,
      "trading_costs_quote_units": 86.11871137170279,
      "borrowing_costs_quote_units": 117.43999471352379,
      "price_pnl_quote_units": -1985.8106306834081,
      "turnover_quote_units": 28706.23712390092,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7973.592098415498,
      "return_pct": -20.264079015845017,
      "cagr_pct": -50.73414328769141,
      "max_drawdown_pct": 45.47283380668655,
      "mean_exposure_while_solvent": 1.3084337134105504,
      "realized_annual_volatility_pct": 60.227062208706116,
      "trading_costs_quote_units": 129.1837357217603,
      "borrowing_costs_quote_units": 90.12498941439374,
      "price_pnl_quote_units": -1807.099176448351,
      "turnover_quote_units": 43061.24524058678,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7625.42377307594,
      "return_pct": -23.7457622692406,
      "cagr_pct": -57.15225309182084,
      "max_drawdown_pct": 48.14879370470104,
      "mean_exposure_while_solvent": 1.2552218638918282,
      "realized_annual_volatility_pct": 61.13425585979924,
      "trading_costs_quote_units": 76.02596910464426,
      "borrowing_costs_quote_units": 68.62345843887117,
      "price_pnl_quote_units": -2229.926799380543,
      "turnover_quote_units": 25341.9897015481,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8765.757343585301,
      "return_pct": -12.34242656414699,
      "cagr_pct": -33.756144374939964,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9933885060074359,
      "realized_annual_volatility_pct": 47.021278947943465,
      "trading_costs_quote_units": 34.427609156003506,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1199.815047258694,
      "turnover_quote_units": 11475.86971866783,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9116.655542203489,
      "return_pct": -8.83344457796511,
      "cagr_pct": -25.107910552408296,
      "max_drawdown_pct": 27.76607295755329,
      "mean_exposure_while_solvent": 0.7487863884074503,
      "realized_annual_volatility_pct": 35.49911191254297,
      "trading_costs_quote_units": 33.15186431223452,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -850.1925934842724,
      "turnover_quote_units": 11050.621437411499,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8762.42098525033,
      "return_pct": -12.375790147496701,
      "cagr_pct": -33.834935365613156,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9985754985754985,
      "realized_annual_volatility_pct": 47.40114994712147,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1207.6687455572473,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8284.13002773922,
      "return_pct": -17.158699722607796,
      "cagr_pct": -44.48382467017426,
      "max_drawdown_pct": 42.57954270825775,
      "mean_exposure_while_solvent": 1.24854603700196,
      "realized_annual_volatility_pct": 59.35308220740907,
      "trading_costs_quote_units": 53.60433397698739,
      "borrowing_costs_quote_units": 66.00487315041703,
      "price_pnl_quote_units": -1596.2607651333822,
      "turnover_quote_units": 17868.111325662463,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7784.097759796256,
      "return_pct": -22.159022402037444,
      "cagr_pct": -54.30274803937471,
      "max_drawdown_pct": 49.0584465176403,
      "mean_exposure_while_solvent": 1.4987065452202053,
      "realized_annual_volatility_pct": 71.36050180405572,
      "trading_costs_quote_units": 81.80520584422231,
      "borrowing_costs_quote_units": 125.94382407752128,
      "price_pnl_quote_units": -2008.1532102819908,
      "turnover_quote_units": 27268.401948074126,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8302.761417881891,
      "return_pct": -16.972385821181092,
      "cagr_pct": -44.092552112937334,
      "max_drawdown_pct": 38.46928997746123,
      "mean_exposure_while_solvent": 0.8988165266456084,
      "realized_annual_volatility_pct": 42.0766338636219,
      "trading_costs_quote_units": 85.32068581446646,
      "borrowing_costs_quote_units": 25.105838919575127,
      "price_pnl_quote_units": -1586.812057384066,
      "turnover_quote_units": 28440.228604822125,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7860.151455184995,
      "return_pct": -21.39848544815005,
      "cagr_pct": -52.892388722344705,
      "max_drawdown_pct": 48.28213404181828,
      "mean_exposure_while_solvent": 1.290093463642373,
      "realized_annual_volatility_pct": 60.35587861040912,
      "trading_costs_quote_units": 93.72337523272314,
      "borrowing_costs_quote_units": 164.29865383916143,
      "price_pnl_quote_units": -1881.826515743127,
      "turnover_quote_units": 31241.125077574376,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7696.613220687076,
      "return_pct": -23.033867793129236,
      "cagr_pct": -55.889241832889105,
      "max_drawdown_pct": 49.21786758115525,
      "mean_exposure_while_solvent": 1.4575398940339366,
      "realized_annual_volatility_pct": 68.78835084294131,
      "trading_costs_quote_units": 85.88163495834019,
      "borrowing_costs_quote_units": 233.34558767479137,
      "price_pnl_quote_units": -1984.1595566797946,
      "turnover_quote_units": 28627.211652780046,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7889.76794416573,
      "return_pct": -21.1023205583427,
      "cagr_pct": -52.33525960122378,
      "max_drawdown_pct": 45.63875672815465,
      "mean_exposure_while_solvent": 1.3084883838897823,
      "realized_annual_volatility_pct": 60.231429563416164,
      "trading_costs_quote_units": 128.75205479603338,
      "borrowing_costs_quote_units": 179.41386199964816,
      "price_pnl_quote_units": -1802.0661390385933,
      "turnover_quote_units": 42917.35159867777,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7562.861282128224,
      "return_pct": -24.37138717871776,
      "cagr_pct": -58.24170627469212,
      "max_drawdown_pct": 48.30019692411677,
      "mean_exposure_while_solvent": 1.255260817829385,
      "realized_annual_volatility_pct": 61.14039793645022,
      "trading_costs_quote_units": 75.84882129557208,
      "borrowing_costs_quote_units": 136.75917414991287,
      "price_pnl_quote_units": -2224.530722426291,
      "turnover_quote_units": 25282.940431857365,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8765.757343585301,
      "return_pct": -12.34242656414699,
      "cagr_pct": -33.756144374939964,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9933885060074359,
      "realized_annual_volatility_pct": 47.021278947943465,
      "trading_costs_quote_units": 34.427609156003506,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1199.815047258694,
      "turnover_quote_units": 11475.86971866783,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9116.655542203489,
      "return_pct": -8.83344457796511,
      "cagr_pct": -25.107910552408296,
      "max_drawdown_pct": 27.76607295755329,
      "mean_exposure_while_solvent": 0.7487863884074503,
      "realized_annual_volatility_pct": 35.49911191254297,
      "trading_costs_quote_units": 33.15186431223452,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -850.1925934842724,
      "turnover_quote_units": 11050.621437411499,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8762.42098525033,
      "return_pct": -12.375790147496701,
      "cagr_pct": -33.834935365613156,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9985754985754985,
      "realized_annual_volatility_pct": 47.40114994712147,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1207.6687455572473,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8218.058854037285,
      "return_pct": -17.819411459627155,
      "cagr_pct": -45.85635233364933,
      "max_drawdown_pct": 42.66893288648558,
      "mean_exposure_while_solvent": 1.2485816694081606,
      "realized_annual_volatility_pct": 59.355634963094204,
      "trading_costs_quote_units": 53.5651776935527,
      "borrowing_costs_quote_units": 131.5346436647495,
      "price_pnl_quote_units": -1596.8413246044208,
      "turnover_quote_units": 17855.059231184227,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7660.317871935672,
      "return_pct": -23.396821280643277,
      "cagr_pct": -56.53629561706134,
      "max_drawdown_pct": 49.31298197711199,
      "mean_exposure_while_solvent": 1.4987921680510188,
      "realized_annual_volatility_pct": 71.36667836148257,
      "trading_costs_quote_units": 81.5933829577735,
      "borrowing_costs_quote_units": 250.0867690722168,
      "price_pnl_quote_units": -2008.0019760343412,
      "turnover_quote_units": 27197.79431925783,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8289.278326938726,
      "return_pct": -17.10721673061274,
      "cagr_pct": -44.37589352738219,
      "max_drawdown_pct": 38.433735227483254,
      "mean_exposure_while_solvent": 0.8960278193273493,
      "realized_annual_volatility_pct": 42.16736962714778,
      "trading_costs_quote_units": 85.33294530350122,
      "borrowing_costs_quote_units": 6.2220989678100205,
      "price_pnl_quote_units": -1619.1666287899716,
      "turnover_quote_units": 28444.31510116704,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7965.1896462246095,
      "return_pct": -20.348103537753904,
      "cagr_pct": -50.89626265850037,
      "max_drawdown_pct": 47.96906186173445,
      "mean_exposure_while_solvent": 1.2857918853591144,
      "realized_annual_volatility_pct": 60.47443075929012,
      "trading_costs_quote_units": 92.99042324822827,
      "borrowing_costs_quote_units": 40.90665526505792,
      "price_pnl_quote_units": -1900.9132752620928,
      "turnover_quote_units": 30996.807749409414,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7830.6686251275205,
      "return_pct": -21.693313748724798,
      "cagr_pct": -53.44258791054364,
      "max_drawdown_pct": 48.84641612350311,
      "mean_exposure_while_solvent": 1.4529878028764998,
      "realized_annual_volatility_pct": 68.73270313741246,
      "trading_costs_quote_units": 86.31676778662698,
      "borrowing_costs_quote_units": 58.36815240706174,
      "price_pnl_quote_units": -2024.6464546787877,
      "turnover_quote_units": 28772.25592887568,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7948.342674764546,
      "return_pct": -20.51657325235454,
      "cagr_pct": -51.22021927414935,
      "max_drawdown_pct": 45.379188339772,
      "mean_exposure_while_solvent": 1.3039014124095012,
      "realized_annual_volatility_pct": 60.34411418564608,
      "trading_costs_quote_units": 129.53659278107259,
      "borrowing_costs_quote_units": 44.5783193448338,
      "price_pnl_quote_units": -1877.5424131095608,
      "turnover_quote_units": 43178.86426035753,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7675.540136898517,
      "return_pct": -23.244598631014835,
      "cagr_pct": -56.265713004982196,
      "max_drawdown_pct": 47.932535483718496,
      "mean_exposure_while_solvent": 1.2514520517099421,
      "realized_annual_volatility_pct": 61.18067020521364,
      "trading_costs_quote_units": 74.42745012039686,
      "borrowing_costs_quote_units": 34.10910330956682,
      "price_pnl_quote_units": -2215.9233096715266,
      "turnover_quote_units": 24809.15004013228,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8719.908977797537,
      "return_pct": -12.80091022202463,
      "cagr_pct": -34.83332016490602,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9905633419289741,
      "realized_annual_volatility_pct": 47.01979409871802,
      "trading_costs_quote_units": 34.4699811896549,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1245.6210410128083,
      "turnover_quote_units": 11489.993729884964,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9070.0362859354,
      "return_pct": -9.299637140645988,
      "cagr_pct": -26.298676216645905,
      "max_drawdown_pct": 27.808175183685414,
      "mean_exposure_while_solvent": 0.7467274849637123,
      "realized_annual_volatility_pct": 35.50261216470698,
      "trading_costs_quote_units": 33.28516023675941,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -896.6785538278451,
      "turnover_quote_units": 11095.053412253135,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8718.243708144848,
      "return_pct": -12.817562918551516,
      "cagr_pct": -34.87221872193806,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9957264957264956,
      "realized_annual_volatility_pct": 47.39318265730898,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1251.84602266273,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8282.936562144185,
      "return_pct": -17.170634378558148,
      "cagr_pct": -44.508824639409006,
      "max_drawdown_pct": 42.4740759779612,
      "mean_exposure_while_solvent": 1.244841410909699,
      "realized_annual_volatility_pct": 59.319710330485606,
      "trading_costs_quote_units": 53.80251571517551,
      "borrowing_costs_quote_units": 32.77918506098343,
      "price_pnl_quote_units": -1630.481737079652,
      "turnover_quote_units": 17934.171905058505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7828.292370982668,
      "return_pct": -21.71707629017332,
      "cagr_pct": -53.486741520393785,
      "max_drawdown_pct": 48.84641612350311,
      "mean_exposure_while_solvent": 1.4940945237452532,
      "realized_annual_volatility_pct": 71.28975939283364,
      "trading_costs_quote_units": 82.31401860279462,
      "borrowing_costs_quote_units": 62.70417577935776,
      "price_pnl_quote_units": -2026.6894346351783,
      "turnover_quote_units": 27438.006200931537,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8284.049227233776,
      "return_pct": -17.159507727662238,
      "cagr_pct": -44.48551747022306,
      "max_drawdown_pct": 38.469012395420364,
      "mean_exposure_while_solvent": 0.8960305683923565,
      "realized_annual_volatility_pct": 42.16845025352606,
      "trading_costs_quote_units": 85.31544582854296,
      "borrowing_costs_quote_units": 12.441308180462867,
      "price_pnl_quote_units": -1618.1940187572147,
      "turnover_quote_units": 28438.481942847677,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7927.63066622776,
      "return_pct": -20.723693337722395,
      "cagr_pct": -51.616502155008746,
      "max_drawdown_pct": 48.04922572909835,
      "mean_exposure_while_solvent": 1.2858159258115345,
      "realized_annual_volatility_pct": 60.476163141140574,
      "trading_costs_quote_units": 92.87809564810303,
      "borrowing_costs_quote_units": 81.64350410724995,
      "price_pnl_quote_units": -1897.8477340168795,
      "turnover_quote_units": 30959.36521603432,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7773.509705869325,
      "return_pct": -22.26490294130674,
      "cagr_pct": -54.496788924509644,
      "max_drawdown_pct": 48.92620137390571,
      "mean_exposure_while_solvent": 1.4530260962148636,
      "realized_annual_volatility_pct": 68.73499936779267,
      "trading_costs_quote_units": 86.182865457065,
      "borrowing_costs_quote_units": 116.35449010869263,
      "price_pnl_quote_units": -2023.9529385649257,
      "turnover_quote_units": 28727.621819021657,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7906.646028139412,
      "return_pct": -20.933539718605875,
      "cagr_pct": -52.015762459367195,
      "max_drawdown_pct": 45.4627377645831,
      "mean_exposure_while_solvent": 1.3039284869435943,
      "realized_annual_volatility_pct": 60.34582150087219,
      "trading_costs_quote_units": 129.32003698857145,
      "borrowing_costs_quote_units": 88.95016641889538,
      "price_pnl_quote_units": -1875.0837684531123,
      "turnover_quote_units": 43106.67899619048,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7644.138157440837,
      "return_pct": -23.558618425591625,
      "cagr_pct": -56.82264664011116,
      "max_drawdown_pct": 48.00812257927451,
      "mean_exposure_while_solvent": 1.2514714061352843,
      "realized_annual_volatility_pct": 61.18313912138714,
      "trading_costs_quote_units": 74.3395130949919,
      "borrowing_costs_quote_units": 68.0970356063361,
      "price_pnl_quote_units": -2213.4252938578306,
      "turnover_quote_units": 24779.837698330623,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8719.908977797537,
      "return_pct": -12.80091022202463,
      "cagr_pct": -34.83332016490602,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9905633419289741,
      "realized_annual_volatility_pct": 47.01979409871802,
      "trading_costs_quote_units": 34.4699811896549,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1245.6210410128083,
      "turnover_quote_units": 11489.993729884964,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9070.0362859354,
      "return_pct": -9.299637140645988,
      "cagr_pct": -26.298676216645905,
      "max_drawdown_pct": 27.808175183685414,
      "mean_exposure_while_solvent": 0.7467274849637123,
      "realized_annual_volatility_pct": 35.50261216470698,
      "trading_costs_quote_units": 33.28516023675941,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -896.6785538278451,
      "turnover_quote_units": 11095.053412253135,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8718.243708144848,
      "return_pct": -12.817562918551516,
      "cagr_pct": -34.87221872193806,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9957264957264956,
      "realized_annual_volatility_pct": 47.39318265730898,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1251.84602266273,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8249.947240226888,
      "return_pct": -17.50052759773113,
      "cagr_pct": -45.19683724361071,
      "max_drawdown_pct": 42.51872833704925,
      "mean_exposure_while_solvent": 1.2448591235060433,
      "realized_annual_volatility_pct": 59.32073383483102,
      "trading_costs_quote_units": 53.77712157951061,
      "borrowing_costs_quote_units": 65.44043236875524,
      "price_pnl_quote_units": -1630.8352058248533,
      "turnover_quote_units": 17925.70719317019,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7766.012661098361,
      "return_pct": -22.339873389016397,
      "cagr_pct": -54.633843363426415,
      "max_drawdown_pct": 48.92620137390571,
      "mean_exposure_while_solvent": 1.4941370756234822,
      "realized_annual_volatility_pct": 71.29223021679769,
      "trading_costs_quote_units": 82.19049678760496,
      "borrowing_costs_quote_units": 124.95887048209278,
      "price_pnl_quote_units": -2026.8379716319605,
      "turnover_quote_units": 27396.83226253498,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8273.598644031052,
      "return_pct": -17.264013559689484,
      "cagr_pct": -44.704165231249405,
      "max_drawdown_pct": 38.53952178753758,
      "mean_exposure_while_solvent": 0.8960360673495115,
      "realized_annual_volatility_pct": 42.1706179006314,
      "trading_costs_quote_units": 85.2804667522507,
      "borrowing_costs_quote_units": 24.871060681547156,
      "price_pnl_quote_units": -1616.2498285351394,
      "turnover_quote_units": 28426.82225075024,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7853.0239655769365,
      "return_pct": -21.469760344230636,
      "cagr_pct": -53.02580274735889,
      "max_drawdown_pct": 48.20922709194419,
      "mean_exposure_while_solvent": 1.2858640164354054,
      "realized_annual_volatility_pct": 60.479651839438844,
      "trading_costs_quote_units": 92.65439124035669,
      "borrowing_costs_quote_units": 162.61065767234362,
      "price_pnl_quote_units": -1891.7109855103545,
      "turnover_quote_units": 30884.797080118915,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7660.409750631977,
      "return_pct": -23.395902493680232,
      "cagr_pct": -56.534665856643784,
      "max_drawdown_pct": 49.08544254604272,
      "mean_exposure_while_solvent": 1.4531026989950866,
      "realized_annual_volatility_pct": 68.73959716514952,
      "trading_costs_quote_units": 85.91748489853295,
      "borrowing_costs_quote_units": 231.19215965713573,
      "price_pnl_quote_units": -2022.4806048123387,
      "turnover_quote_units": 28639.161632844327,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7823.886166512519,
      "return_pct": -21.761138334874808,
      "cagr_pct": -53.56853862531816,
      "max_drawdown_pct": 45.629498160468295,
      "mean_exposure_while_solvent": 1.3039826471462241,
      "realized_annual_volatility_pct": 60.34926044512545,
      "trading_costs_quote_units": 128.88872360548658,
      "borrowing_costs_quote_units": 177.07837860881057,
      "price_pnl_quote_units": -1870.1467312731886,
      "turnover_quote_units": 42962.90786849548,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7581.7042875061325,
      "return_pct": -24.182957124938675,
      "cagr_pct": -57.915584236621,
      "max_drawdown_pct": 48.15900825469369,
      "mean_exposure_while_solvent": 1.2515101218503983,
      "realized_annual_volatility_pct": 61.18808840545553,
      "trading_costs_quote_units": 74.16422512878106,
      "borrowing_costs_quote_units": 135.71115477541397,
      "price_pnl_quote_units": -2208.420332589668,
      "turnover_quote_units": 24721.40837626036,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8719.908977797537,
      "return_pct": -12.80091022202463,
      "cagr_pct": -34.83332016490602,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9905633419289741,
      "realized_annual_volatility_pct": 47.01979409871802,
      "trading_costs_quote_units": 34.4699811896549,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1245.6210410128083,
      "turnover_quote_units": 11489.993729884964,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9070.0362859354,
      "return_pct": -9.299637140645988,
      "cagr_pct": -26.298676216645905,
      "max_drawdown_pct": 27.808175183685414,
      "mean_exposure_while_solvent": 0.7467274849637123,
      "realized_annual_volatility_pct": 35.50261216470698,
      "trading_costs_quote_units": 33.28516023675941,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -896.6785538278451,
      "turnover_quote_units": 11095.053412253135,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8718.243708144848,
      "return_pct": -12.817562918551516,
      "cagr_pct": -34.87221872193806,
      "max_drawdown_pct": 35.44897764487407,
      "mean_exposure_while_solvent": 0.9957264957264956,
      "realized_annual_volatility_pct": 47.39318265730898,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1251.84602266273,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8184.347754618278,
      "return_pct": -18.156522453817225,
      "cagr_pct": -46.54767287185278,
      "max_drawdown_pct": 42.60794896312813,
      "mean_exposure_while_solvent": 1.2448945541470875,
      "realized_annual_volatility_pct": 59.322781465458085,
      "trading_costs_quote_units": 53.726549426008276,
      "borrowing_costs_quote_units": 130.41084116017296,
      "price_pnl_quote_units": -1631.5148547955355,
      "turnover_quote_units": 17908.84980866943,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7642.90237133572,
      "return_pct": -23.570976286642797,
      "cagr_pct": -56.84446487490927,
      "max_drawdown_pct": 49.08544254604272,
      "mean_exposure_while_solvent": 1.494222197827128,
      "realized_annual_volatility_pct": 71.29717394219645,
      "trading_costs_quote_units": 81.94535486978683,
      "borrowing_costs_quote_units": 248.1333155189202,
      "price_pnl_quote_units": -2027.018958275565,
      "turnover_quote_units": 27315.118289928945,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8393.323669846883,
      "return_pct": -16.06676330153117,
      "cagr_pct": -42.16393826943196,
      "max_drawdown_pct": 38.42499917931798,
      "mean_exposure_while_solvent": 0.9039060146865399,
      "realized_annual_volatility_pct": 42.153727832932084,
      "trading_costs_quote_units": 17.320712077890665,
      "borrowing_costs_quote_units": 6.737914185872347,
      "price_pnl_quote_units": -1582.61770388935,
      "turnover_quote_units": 28867.853463151132,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8094.076401487113,
      "return_pct": -19.059235985128876,
      "cagr_pct": -48.369279728216085,
      "max_drawdown_pct": 47.96222270009649,
      "mean_exposure_while_solvent": 1.2934986764532166,
      "realized_annual_volatility_pct": 60.261068375516004,
      "trading_costs_quote_units": 18.754297463517847,
      "borrowing_costs_quote_units": 41.844745866342414,
      "price_pnl_quote_units": -1845.3245551830287,
      "turnover_quote_units": 31257.162439196403,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7990.253662333797,
      "return_pct": -20.097463376662027,
      "cagr_pct": -50.411594277076865,
      "max_drawdown_pct": 48.78445901066873,
      "mean_exposure_while_solvent": 1.4588862919480476,
      "realized_annual_volatility_pct": 68.54383404884422,
      "trading_costs_quote_units": 17.26300627805044,
      "borrowing_costs_quote_units": 59.29792808030058,
      "price_pnl_quote_units": -1933.1854033078575,
      "turnover_quote_units": 28771.67713008408,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8179.75925485602,
      "return_pct": -18.202407451439807,
      "cagr_pct": -46.64130347847675,
      "max_drawdown_pct": 45.17344057269567,
      "mean_exposure_while_solvent": 1.3107677840705185,
      "realized_annual_volatility_pct": 60.064034776267775,
      "trading_costs_quote_units": 25.85763210075909,
      "borrowing_costs_quote_units": 45.627855503080305,
      "price_pnl_quote_units": -1748.7552575401423,
      "turnover_quote_units": 43096.05350126515,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7756.766209225943,
      "return_pct": -22.432337907740564,
      "cagr_pct": -54.80249192340606,
      "max_drawdown_pct": 47.98800787979114,
      "mean_exposure_while_solvent": 1.2601915727844182,
      "realized_annual_volatility_pct": 61.09437329288968,
      "trading_costs_quote_units": 15.230210075302626,
      "borrowing_costs_quote_units": 35.09952870354413,
      "price_pnl_quote_units": -2192.9040519952023,
      "turnover_quote_units": 25383.683458837717,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8832.437093177658,
      "return_pct": -11.675629068223426,
      "cagr_pct": -32.16803083250884,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9937047696074672,
      "realized_annual_volatility_pct": 46.82805440624167,
      "trading_costs_quote_units": 6.875749247744825,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1160.6871575745995,
      "turnover_quote_units": 11459.582079574711,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9172.811822041784,
      "return_pct": -8.271881779582168,
      "cagr_pct": -23.656255396373,
      "max_drawdown_pct": 27.645661715548542,
      "mean_exposure_while_solvent": 0.7487816963649345,
      "realized_annual_volatility_pct": 35.33354706622844,
      "trading_costs_quote_units": 6.634389992999536,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -820.5537879652202,
      "turnover_quote_units": 11057.316654999233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8823.835006731913,
      "return_pct": -11.761649932680863,
      "cagr_pct": -32.374346113465926,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9985754985754985,
      "realized_annual_volatility_pct": 47.182688195193656,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1170.1685911093828,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8404.865464963365,
      "return_pct": -15.951345350366353,
      "cagr_pct": -41.914940001352505,
      "max_drawdown_pct": 42.37372736629775,
      "mean_exposure_while_solvent": 1.2485354602646812,
      "realized_annual_volatility_pct": 59.080700715399914,
      "trading_costs_quote_units": 10.74315683551054,
      "borrowing_costs_quote_units": 33.132970022664026,
      "price_pnl_quote_units": -1551.2584081784557,
      "turnover_quote_units": 17905.26139251758,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7962.50590694394,
      "return_pct": -20.37494093056059,
      "cagr_pct": -50.94796695506187,
      "max_drawdown_pct": 48.78445901066873,
      "mean_exposure_while_solvent": 1.4986804220831542,
      "realized_annual_volatility_pct": 71.03430837851673,
      "trading_costs_quote_units": 16.41410585016596,
      "borrowing_costs_quote_units": 63.42394034054601,
      "price_pnl_quote_units": -1957.6560468653547,
      "turnover_quote_units": 27356.843083609907,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8387.640272469594,
      "return_pct": -16.123597275304057,
      "cagr_pct": -42.286282515679616,
      "max_drawdown_pct": 38.46232481489974,
      "mean_exposure_while_solvent": 0.9039089919998072,
      "realized_annual_volatility_pct": 42.15500503771455,
      "trading_costs_quote_units": 17.31742936359806,
      "borrowing_costs_quote_units": 13.472413736567727,
      "price_pnl_quote_units": -1581.5698844302344,
      "turnover_quote_units": 28862.382272663417,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8055.318391824758,
      "return_pct": -19.446816081752427,
      "cagr_pct": -49.138256620147665,
      "max_drawdown_pct": 48.042437946216076,
      "mean_exposure_while_solvent": 1.2935232100842469,
      "realized_annual_volatility_pct": 60.26343195992783,
      "trading_costs_quote_units": 18.729865661492813,
      "borrowing_costs_quote_units": 83.5133396763939,
      "price_pnl_quote_units": -1842.4384028373622,
      "turnover_quote_units": 31216.442769154717,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7931.57029641028,
      "return_pct": -20.684297035897202,
      "cagr_pct": -51.541294474573654,
      "max_drawdown_pct": 48.86448643575556,
      "mean_exposure_while_solvent": 1.4589249671878408,
      "realized_annual_volatility_pct": 68.54666303047912,
      "trading_costs_quote_units": 17.23763090143316,
      "borrowing_costs_quote_units": 118.20563675457102,
      "price_pnl_quote_units": -1932.986435933702,
      "turnover_quote_units": 28729.38483572193,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8136.44365867278,
      "return_pct": -18.635563413272205,
      "cagr_pct": -47.51968959080176,
      "max_drawdown_pct": 45.25698836673148,
      "mean_exposure_while_solvent": 1.3107952787431592,
      "realized_annual_volatility_pct": 60.06618107636491,
      "trading_costs_quote_units": 25.812648518940463,
      "borrowing_costs_quote_units": 91.04194355295817,
      "price_pnl_quote_units": -1746.7017492553155,
      "turnover_quote_units": 43021.080864900796,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7724.2713773346395,
      "return_pct": -22.757286226653605,
      "cagr_pct": -55.391791424806684,
      "max_drawdown_pct": 48.0646008111676,
      "mean_exposure_while_solvent": 1.2602114767598647,
      "realized_annual_volatility_pct": 61.09744091149775,
      "trading_costs_quote_units": 15.211793798819182,
      "borrowing_costs_quote_units": 70.07152826823678,
      "price_pnl_quote_units": -2190.4453005983046,
      "turnover_quote_units": 25352.98966469864,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8832.437093177658,
      "return_pct": -11.675629068223426,
      "cagr_pct": -32.16803083250884,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9937047696074672,
      "realized_annual_volatility_pct": 46.82805440624167,
      "trading_costs_quote_units": 6.875749247744825,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1160.6871575745995,
      "turnover_quote_units": 11459.582079574711,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9172.811822041784,
      "return_pct": -8.271881779582168,
      "cagr_pct": -23.656255396373,
      "max_drawdown_pct": 27.645661715548542,
      "mean_exposure_while_solvent": 0.7487816963649345,
      "realized_annual_volatility_pct": 35.33354706622844,
      "trading_costs_quote_units": 6.634389992999536,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -820.5537879652202,
      "turnover_quote_units": 11057.316654999233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8823.835006731913,
      "return_pct": -11.761649932680863,
      "cagr_pct": -32.374346113465926,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9985754985754985,
      "realized_annual_volatility_pct": 47.182688195193656,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1170.1685911093828,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8371.298951676303,
      "return_pct": -16.287010483236976,
      "cagr_pct": -42.63707482384896,
      "max_drawdown_pct": 42.41852022789773,
      "mean_exposure_while_solvent": 1.2485532743764054,
      "realized_annual_volatility_pct": 59.0819621099538,
      "trading_costs_quote_units": 10.738494595677126,
      "borrowing_costs_quote_units": 66.14650815602013,
      "price_pnl_quote_units": -1551.816045571999,
      "turnover_quote_units": 17897.490992795196,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7898.9866641640965,
      "return_pct": -21.01013335835904,
      "cagr_pct": -52.16093187556534,
      "max_drawdown_pct": 48.896466845324696,
      "mean_exposure_while_solvent": 1.4987232260897583,
      "realized_annual_volatility_pct": 71.03735675986077,
      "trading_costs_quote_units": 16.39092939054353,
      "borrowing_costs_quote_units": 126.39260185376766,
      "price_pnl_quote_units": -1958.2298045915911,
      "turnover_quote_units": 27318.215650905895,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8376.28251629935,
      "return_pct": -16.237174837006496,
      "cagr_pct": -42.53024885841295,
      "max_drawdown_pct": 38.53692504712639,
      "mean_exposure_while_solvent": 0.9039149475392043,
      "realized_annual_volatility_pct": 42.15756687508001,
      "trading_costs_quote_units": 17.3108679562646,
      "borrowing_costs_quote_units": 26.9311734853011,
      "price_pnl_quote_units": -1579.4754422590806,
      "turnover_quote_units": 28851.446593774344,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7978.334608691918,
      "return_pct": -20.21665391308082,
      "cagr_pct": -50.642479383586135,
      "max_drawdown_pct": 48.20255941812584,
      "mean_exposure_while_solvent": 1.2935722873139712,
      "realized_annual_volatility_pct": 60.26818308083174,
      "trading_costs_quote_units": 18.685821396425254,
      "borrowing_costs_quote_units": 166.32506240523668,
      "price_pnl_quote_units": -1836.6545075064378,
      "turnover_quote_units": 31143.035660708767,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7815.459868614216,
      "return_pct": -21.84540131385784,
      "cagr_pct": -53.72469249572966,
      "max_drawdown_pct": 49.02422786043812,
      "mean_exposure_while_solvent": 1.4590023339823148,
      "realized_annual_volatility_pct": 68.55232476120541,
      "trading_costs_quote_units": 17.190760313306708,
      "borrowing_costs_quote_units": 234.86108695914905,
      "price_pnl_quote_units": -1932.4882841133262,
      "turnover_quote_units": 28651.267188844562,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8050.474133081325,
      "return_pct": -19.495258669186754,
      "cagr_pct": -49.23381782889643,
      "max_drawdown_pct": 45.423765393272895,
      "mean_exposure_while_solvent": 1.3108502794459385,
      "realized_annual_volatility_pct": 60.07049695487739,
      "trading_costs_quote_units": 25.726630940175767,
      "borrowing_costs_quote_units": 181.232894988803,
      "price_pnl_quote_units": -1742.566340989696,
      "turnover_quote_units": 42877.71823362627,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7659.674137273103,
      "return_pct": -23.403258627268976,
      "cagr_pct": -56.54771312962983,
      "max_drawdown_pct": 48.21748996985231,
      "mean_exposure_while_solvent": 1.2602512918168514,
      "realized_annual_volatility_pct": 61.10358830984315,
      "trading_costs_quote_units": 15.175099629912737,
      "borrowing_costs_quote_units": 139.6348466592354,
      "price_pnl_quote_units": -2185.5159164377337,
      "turnover_quote_units": 25291.83271652123,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8832.437093177658,
      "return_pct": -11.675629068223426,
      "cagr_pct": -32.16803083250884,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9937047696074672,
      "realized_annual_volatility_pct": 46.82805440624167,
      "trading_costs_quote_units": 6.875749247744825,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1160.6871575745995,
      "turnover_quote_units": 11459.582079574711,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9172.811822041784,
      "return_pct": -8.271881779582168,
      "cagr_pct": -23.656255396373,
      "max_drawdown_pct": 27.645661715548542,
      "mean_exposure_while_solvent": 0.7487816963649345,
      "realized_annual_volatility_pct": 35.33354706622844,
      "trading_costs_quote_units": 6.634389992999536,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -820.5537879652202,
      "turnover_quote_units": 11057.316654999233,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8823.835006731913,
      "return_pct": -11.761649932680863,
      "cagr_pct": -32.374346113465926,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9985754985754985,
      "realized_annual_volatility_pct": 47.182688195193656,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1170.1685911093828,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8304.551625768483,
      "return_pct": -16.954483742315173,
      "cagr_pct": -44.054857995381624,
      "max_drawdown_pct": 42.50802969163725,
      "mean_exposure_while_solvent": 1.2485889080887387,
      "realized_annual_volatility_pct": 59.08448509302436,
      "trading_costs_quote_units": 10.730679694962141,
      "borrowing_costs_quote_units": 131.8170280601962,
      "price_pnl_quote_units": -1552.9006664763567,
      "turnover_quote_units": 17884.466158270217,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7773.427576882532,
      "return_pct": -22.265724231174676,
      "cagr_pct": -54.49829185862936,
      "max_drawdown_pct": 49.18416488946943,
      "mean_exposure_while_solvent": 1.498808852693229,
      "realized_annual_volatility_pct": 71.04345457529406,
      "trading_costs_quote_units": 16.348456773082322,
      "borrowing_costs_quote_units": 250.97773077883562,
      "price_pnl_quote_units": -1959.2462355655557,
      "turnover_quote_units": 27247.42795513722,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8369.87106154242,
      "return_pct": -16.30128938457579,
      "cagr_pct": -42.66765767228159,
      "max_drawdown_pct": 38.49312797692372,
      "mean_exposure_while_solvent": 0.9011206707933609,
      "realized_annual_volatility_pct": 42.260135336223335,
      "trading_costs_quote_units": 17.330168144516094,
      "borrowing_costs_quote_units": 6.67738314969249,
      "price_pnl_quote_units": -1606.1213871633713,
      "turnover_quote_units": 28883.6135741935,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8094.571160745393,
      "return_pct": -19.05428839254607,
      "cagr_pct": -48.359412697203275,
      "max_drawdown_pct": 47.88406218116086,
      "mean_exposure_while_solvent": 1.2892706607390583,
      "realized_annual_volatility_pct": 60.396260273665945,
      "trading_costs_quote_units": 18.532989997206638,
      "borrowing_costs_quote_units": 41.45093653876296,
      "price_pnl_quote_units": -1845.4449127186317,
      "turnover_quote_units": 30888.316662011053,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7956.041691921238,
      "return_pct": -20.439583080787614,
      "cagr_pct": -51.072352988384075,
      "max_drawdown_pct": 48.65483931459794,
      "mean_exposure_while_solvent": 1.4544447204624942,
      "realized_annual_volatility_pct": 68.49879450183323,
      "trading_costs_quote_units": 17.36842087978874,
      "borrowing_costs_quote_units": 58.78264968893795,
      "price_pnl_quote_units": -1967.8072375100342,
      "turnover_quote_units": 28947.368132981203,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8118.666422829896,
      "return_pct": -18.813335771701045,
      "cagr_pct": -47.87732485662431,
      "max_drawdown_pct": 45.16170735477563,
      "mean_exposure_while_solvent": 1.3062551678466627,
      "realized_annual_volatility_pct": 60.184189657676335,
      "trading_costs_quote_units": 25.905459285424566,
      "borrowing_costs_quote_units": 45.06845420525779,
      "price_pnl_quote_units": -1810.359663679421,
      "turnover_quote_units": 43175.765475707616,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7779.190722085921,
      "return_pct": -22.208092779140788,
      "cagr_pct": -54.39274618657255,
      "max_drawdown_pct": 47.85933175195848,
      "mean_exposure_while_solvent": 1.256419426753306,
      "realized_annual_volatility_pct": 61.15027152065138,
      "trading_costs_quote_units": 14.883298234563071,
      "borrowing_costs_quote_units": 34.849172312907385,
      "price_pnl_quote_units": -2171.076807366602,
      "turnover_quote_units": 24805.497057605102,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8791.081741260297,
      "return_pct": -12.08918258739703,
      "cagr_pct": -33.15600513853934,
      "max_drawdown_pct": 35.32278331223343,
      "mean_exposure_while_solvent": 0.9908778651077826,
      "realized_annual_volatility_pct": 46.82839874667302,
      "trading_costs_quote_units": 6.88387715157491,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1202.0343815881267,
      "turnover_quote_units": 11473.128585958184,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9129.629269727178,
      "return_pct": -8.703707302728214,
      "cagr_pct": -24.77421875325854,
      "max_drawdown_pct": 27.68832177061399,
      "mean_exposure_while_solvent": 0.7467247687647284,
      "realized_annual_volatility_pct": 35.33901267979712,
      "trading_costs_quote_units": 6.658857585751666,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -863.7118726870677,
      "turnover_quote_units": 11098.095976252771,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8783.71125706225,
      "return_pct": -12.1628874293775,
      "cagr_pct": -33.331051225062005,
      "max_drawdown_pct": 35.32278331223343,
      "mean_exposure_while_solvent": 0.9957264957264956,
      "realized_annual_volatility_pct": 47.17550093167041,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1210.292340779044,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8375.338691828378,
      "return_pct": -16.24661308171622,
      "cagr_pct": -42.55049072996086,
      "max_drawdown_pct": 42.314226601669205,
      "mean_exposure_while_solvent": 1.2448453812063947,
      "realized_annual_volatility_pct": 59.0504694563009,
      "trading_costs_quote_units": 10.77543235785179,
      "borrowing_costs_quote_units": 32.868428783296636,
      "price_pnl_quote_units": -1581.0174470304848,
      "turnover_quote_units": 17959.053929752983,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7949.853383736259,
      "return_pct": -20.501466162637406,
      "cagr_pct": -51.19122880261927,
      "max_drawdown_pct": 48.65483931459794,
      "mean_exposure_while_solvent": 1.4941033954800298,
      "realized_annual_volatility_pct": 70.96991609156346,
      "trading_costs_quote_units": 16.488074088873773,
      "borrowing_costs_quote_units": 62.969191699433935,
      "price_pnl_quote_units": -1970.689350475439,
      "turnover_quote_units": 27480.123481456285,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8364.223091541422,
      "return_pct": -16.357769084585783,
      "cagr_pct": -42.788518388351754,
      "max_drawdown_pct": 38.53066203367018,
      "mean_exposure_while_solvent": 0.9011236441029981,
      "realized_annual_volatility_pct": 42.261293500986746,
      "trading_costs_quote_units": 17.32631544844612,
      "borrowing_costs_quote_units": 13.351393549769064,
      "price_pnl_quote_units": -1605.09919946036,
      "turnover_quote_units": 28877.19241407687,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8056.005281045087,
      "return_pct": -19.439947189549134,
      "cagr_pct": -49.124696671044305,
      "max_drawdown_pct": 47.9643485441764,
      "mean_exposure_while_solvent": 1.2892949828067477,
      "realized_annual_volatility_pct": 60.39799425272005,
      "trading_costs_quote_units": 18.50871466631139,
      "borrowing_costs_quote_units": 82.72783012069269,
      "price_pnl_quote_units": -1842.7581741678973,
      "turnover_quote_units": 30847.857777185676,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7897.793865881817,
      "return_pct": -21.022061341181832,
      "cagr_pct": -52.18351229839398,
      "max_drawdown_pct": 48.734775697446786,
      "mean_exposure_while_solvent": 1.4544831586002078,
      "realized_annual_volatility_pct": 68.50106844240933,
      "trading_costs_quote_units": 17.339814987728985,
      "borrowing_costs_quote_units": 117.17933111901276,
      "price_pnl_quote_units": -1967.6869880114466,
      "turnover_quote_units": 28899.691646214957,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8075.859542379477,
      "return_pct": -19.241404576205234,
      "cagr_pct": -48.731688194346674,
      "max_drawdown_pct": 45.245676331294106,
      "mean_exposure_while_solvent": 1.3062824058216544,
      "realized_annual_volatility_pct": 60.185858681894125,
      "trading_costs_quote_units": 25.860762773488982,
      "borrowing_costs_quote_units": 89.9265923623288,
      "price_pnl_quote_units": -1808.353102484709,
      "turnover_quote_units": 43101.27128914829,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7746.747708863797,
      "return_pct": -22.53252291136203,
      "cagr_pct": -54.98474023313909,
      "max_drawdown_pct": 47.935691666667324,
      "mean_exposure_while_solvent": 1.2564392080129123,
      "realized_annual_volatility_pct": 61.15275710960767,
      "trading_costs_quote_units": 14.866398597464123,
      "borrowing_costs_quote_units": 69.57198497762828,
      "price_pnl_quote_units": -2168.813907561097,
      "turnover_quote_units": 24777.330995773573,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8791.081741260297,
      "return_pct": -12.08918258739703,
      "cagr_pct": -33.15600513853934,
      "max_drawdown_pct": 35.32278331223343,
      "mean_exposure_while_solvent": 0.9908778651077826,
      "realized_annual_volatility_pct": 46.82839874667302,
      "trading_costs_quote_units": 6.88387715157491,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1202.0343815881267,
      "turnover_quote_units": 11473.128585958184,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9129.629269727178,
      "return_pct": -8.703707302728214,
      "cagr_pct": -24.77421875325854,
      "max_drawdown_pct": 27.68832177061399,
      "mean_exposure_while_solvent": 0.7467247687647284,
      "realized_annual_volatility_pct": 35.33901267979712,
      "trading_costs_quote_units": 6.658857585751666,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -863.7118726870677,
      "turnover_quote_units": 11098.095976252771,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8783.71125706225,
      "return_pct": -12.1628874293775,
      "cagr_pct": -33.331051225062005,
      "max_drawdown_pct": 35.32278331223343,
      "mean_exposure_while_solvent": 0.9957264957264956,
      "realized_annual_volatility_pct": 47.17550093167041,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1210.292340779044,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8341.987731183812,
      "return_pct": -16.58012268816188,
      "cagr_pct": -43.26264824555716,
      "max_drawdown_pct": 42.358935387453066,
      "mean_exposure_while_solvent": 1.2448630938124086,
      "realized_annual_volatility_pct": 59.05148038961633,
      "trading_costs_quote_units": 10.769760174750513,
      "borrowing_costs_quote_units": 65.61863257127168,
      "price_pnl_quote_units": -1581.6238760701656,
      "turnover_quote_units": 17949.600291250852,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7886.623517576763,
      "return_pct": -21.133764824232372,
      "cagr_pct": -52.39462233542793,
      "max_drawdown_pct": 48.734775697446786,
      "mean_exposure_while_solvent": 1.4941459472463443,
      "realized_annual_volatility_pct": 70.97235335553849,
      "trading_costs_quote_units": 16.46188418216182,
      "borrowing_costs_quote_units": 125.48695876672733,
      "price_pnl_quote_units": -1971.427639474349,
      "turnover_quote_units": 27436.473636936353,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8352.936095577976,
      "return_pct": -16.47063904422025,
      "cagr_pct": -43.029529039004046,
      "max_drawdown_pct": 38.60567834535203,
      "mean_exposure_while_solvent": 0.9011295916361608,
      "realized_annual_volatility_pct": 42.263616962188046,
      "trading_costs_quote_units": 17.31861476343668,
      "borrowing_costs_quote_units": 26.689300574894254,
      "price_pnl_quote_units": -1603.0559890836926,
      "turnover_quote_units": 28864.357939061134,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7979.402655461989,
      "return_pct": -20.20597344538011,
      "cagr_pct": -50.62182003497888,
      "max_drawdown_pct": 48.12459441367029,
      "mean_exposure_while_solvent": 1.2893436367927036,
      "realized_annual_volatility_pct": 60.40148594557001,
      "trading_costs_quote_units": 18.46228251200848,
      "borrowing_costs_quote_units": 164.76244469297893,
      "price_pnl_quote_units": -1837.3726173330297,
      "turnover_quote_units": 30770.470853347466,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7782.541828038183,
      "return_pct": -22.174581719618168,
      "cagr_pct": -54.331297868477776,
      "max_drawdown_pct": 48.894319166769264,
      "mean_exposure_while_solvent": 1.454560051054931,
      "realized_annual_volatility_pct": 68.50562122382316,
      "trading_costs_quote_units": 17.285371713029598,
      "borrowing_costs_quote_units": 232.82534231229099,
      "price_pnl_quote_units": -1967.3474579365045,
      "turnover_quote_units": 28808.952855049323,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7990.898015750641,
      "return_pct": -20.091019842493584,
      "cagr_pct": -50.399091559970046,
      "max_drawdown_pct": 45.41327369249878,
      "mean_exposure_while_solvent": 1.3063368929835972,
      "realized_annual_volatility_pct": 60.189220844052016,
      "trading_costs_quote_units": 25.773650167505252,
      "borrowing_costs_quote_units": 179.015927645679,
      "price_pnl_quote_units": -1804.3124064361818,
      "turnover_quote_units": 42956.08361250873,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7682.251695815179,
      "return_pct": -23.177483041848213,
      "cagr_pct": -56.14604897225228,
      "max_drawdown_pct": 48.088117209708415,
      "mean_exposure_while_solvent": 1.256478777580824,
      "realized_annual_volatility_pct": 61.15773972738738,
      "trading_costs_quote_units": 14.832713277817943,
      "borrowing_costs_quote_units": 138.640413548338,
      "price_pnl_quote_units": -2164.2751773586597,
      "turnover_quote_units": 24721.188796363254,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8791.081741260297,
      "return_pct": -12.08918258739703,
      "cagr_pct": -33.15600513853934,
      "max_drawdown_pct": 35.32278331223343,
      "mean_exposure_while_solvent": 0.9908778651077826,
      "realized_annual_volatility_pct": 46.82839874667302,
      "trading_costs_quote_units": 6.88387715157491,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1202.0343815881267,
      "turnover_quote_units": 11473.128585958184,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9129.629269727178,
      "return_pct": -8.703707302728214,
      "cagr_pct": -24.77421875325854,
      "max_drawdown_pct": 27.68832177061399,
      "mean_exposure_while_solvent": 0.7467247687647284,
      "realized_annual_volatility_pct": 35.33901267979712,
      "trading_costs_quote_units": 6.658857585751666,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -863.7118726870677,
      "turnover_quote_units": 11098.095976252771,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8783.71125706225,
      "return_pct": -12.1628874293775,
      "cagr_pct": -33.331051225062005,
      "max_drawdown_pct": 35.32278331223343,
      "mean_exposure_while_solvent": 0.9957264957264956,
      "realized_annual_volatility_pct": 47.17550093167041,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1210.292340779044,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8275.668414784765,
      "return_pct": -17.243315852152353,
      "cagr_pct": -44.660907954832794,
      "max_drawdown_pct": 42.44826891047438,
      "mean_exposure_while_solvent": 1.244898524472713,
      "realized_annual_volatility_pct": 59.05350281782916,
      "trading_costs_quote_units": 10.759255031701384,
      "borrowing_costs_quote_units": 130.76608730021294,
      "price_pnl_quote_units": -1582.8062428833236,
      "turnover_quote_units": 17932.0917195023,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7761.633198081359,
      "return_pct": -22.38366801918641,
      "cagr_pct": -54.71377483727598,
      "max_drawdown_pct": 48.894319166769264,
      "mean_exposure_while_solvent": 1.4942310692256795,
      "realized_annual_volatility_pct": 70.97722977622519,
      "trading_costs_quote_units": 16.41181035835304,
      "borrowing_costs_quote_units": 249.18173297578792,
      "price_pnl_quote_units": -1972.7732585845124,
      "turnover_quote_units": 27353.01726392175,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8329.073918484715,
      "return_pct": -16.70926081515285,
      "cagr_pct": -43.53678201207906,
      "max_drawdown_pct": 38.55025573302764,
      "mean_exposure_while_solvent": 0.9039060146865399,
      "realized_annual_volatility_pct": 42.16116992163546,
      "trading_costs_quote_units": 86.25639253590114,
      "borrowing_costs_quote_units": 6.714221868513657,
      "price_pnl_quote_units": -1577.9554671108688,
      "turnover_quote_units": 28752.130845300373,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8022.777024272873,
      "return_pct": -19.772229757271276,
      "cagr_pct": -49.777846273943396,
      "max_drawdown_pct": 48.015026141907846,
      "mean_exposure_while_solvent": 1.2934986764532166,
      "realized_annual_volatility_pct": 60.260975410257124,
      "trading_costs_quote_units": 93.32488502082485,
      "borrowing_costs_quote_units": 41.61057031189072,
      "price_pnl_quote_units": -1842.287520394412,
      "turnover_quote_units": 31108.295006941556,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7926.585588712044,
      "return_pct": -20.73414411287956,
      "cagr_pct": -51.636439390900534,
      "max_drawdown_pct": 48.82776606398645,
      "mean_exposure_while_solvent": 1.4588862919480476,
      "realized_annual_volatility_pct": 68.54950927783555,
      "trading_costs_quote_units": 85.93229357561503,
      "borrowing_costs_quote_units": 58.96274830101676,
      "price_pnl_quote_units": -1928.5193694113357,
      "turnover_quote_units": 28644.097858538367,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8077.638475784068,
      "return_pct": -19.22361524215932,
      "cagr_pct": -48.696374341081516,
      "max_drawdown_pct": 45.38442102690205,
      "mean_exposure_while_solvent": 1.3107677840705185,
      "realized_annual_volatility_pct": 60.06486221040295,
      "trading_costs_quote_units": 128.47100827463234,
      "borrowing_costs_quote_units": 45.29603695072121,
      "price_pnl_quote_units": -1748.594478990585,
      "turnover_quote_units": 42823.66942487743,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7702.954632544037,
      "return_pct": -22.970453674559632,
      "cagr_pct": -55.775522411659416,
      "max_drawdown_pct": 48.043724582339664,
      "mean_exposure_while_solvent": 1.2601915727844182,
      "realized_annual_volatility_pct": 61.09744597071681,
      "trading_costs_quote_units": 75.85252933579842,
      "borrowing_costs_quote_units": 34.93790545406879,
      "price_pnl_quote_units": -2186.2549326660933,
      "turnover_quote_units": 25284.176445266145,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8807.324608387116,
      "return_pct": -11.92675391612884,
      "cagr_pct": -32.76914047817351,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9937047696074672,
      "realized_annual_volatility_pct": 46.83086534030533,
      "trading_costs_quote_units": 34.29553054090939,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1158.379861071976,
      "turnover_quote_units": 11431.843513636462,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 9147.484435749044,
      "return_pct": -8.525155642509564,
      "cagr_pct": -24.313322030307106,
      "max_drawdown_pct": 27.660419638611312,
      "mean_exposure_while_solvent": 0.7487816963649345,
      "realized_annual_volatility_pct": 35.33576372931317,
      "trading_costs_quote_units": 33.10659884615969,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -819.4089654047963,
      "turnover_quote_units": 11035.532948719903,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8802.721144303043,
      "return_pct": -11.972788556969572,
      "cagr_pct": -32.87893774466498,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9985754985754985,
      "realized_annual_volatility_pct": 47.185259252466466,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1167.3685865045313,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 8366.19566483271,
      "return_pct": -16.338043351672894,
      "cagr_pct": -42.74632707199526,
      "max_drawdown_pct": 42.39382398664006,
      "mean_exposure_while_solvent": 1.2485354602646812,
      "realized_annual_volatility_pct": 59.08441563072137,
      "trading_costs_quote_units": 53.54658356356811,
      "borrowing_costs_quote_units": 33.00763046550562,
      "price_pnl_quote_units": -1547.250121138203,
      "turnover_quote_units": 17848.86118785604,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 7903.1517838881155,
      "return_pct": -20.96848216111884,
      "cagr_pct": -52.082026659152824,
      "max_drawdown_pct": 48.842936699008355,
      "mean_exposure_while_solvent": 1.4986804220831542,
      "realized_annual_volatility_pct": 71.03947267359284,
      "trading_costs_quote_units": 81.72141839859678,
      "borrowing_costs_quote_units": 63.078248126958194,
      "price_pnl_quote_units": -1952.0485495863447,
      "turnover_quote_units": 27240.472799532257,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8323.425962746162,
      "return_pct": -16.765740372538385,
      "cagr_pct": -43.656392850004465,
      "max_drawdown_pct": 38.587563486285035,
      "mean_exposure_while_solvent": 0.9039089919998072,
      "realized_annual_volatility_pct": 42.16245111971274,
      "trading_costs_quote_units": 86.24011460279783,
      "borrowing_costs_quote_units": 13.425037137378737,
      "price_pnl_quote_units": -1576.9088855136627,
      "turnover_quote_units": 28746.70486759928,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7984.357461329548,
      "return_pct": -20.156425386704523,
      "cagr_pct": -50.52590173616147,
      "max_drawdown_pct": 48.09526342768169,
      "mean_exposure_while_solvent": 1.2935232100842469,
      "realized_annual_volatility_pct": 60.263351105723494,
      "trading_costs_quote_units": 93.20416381571496,
      "borrowing_costs_quote_units": 83.04615365894584,
      "price_pnl_quote_units": -1839.3922211957877,
      "turnover_quote_units": 31068.05460523829,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7868.358094138073,
      "return_pct": -21.316419058619264,
      "cagr_pct": -52.7384560050788,
      "max_drawdown_pct": 48.907830024495226,
      "mean_exposure_while_solvent": 1.4589249671878408,
      "realized_annual_volatility_pct": 68.55236588744098,
      "trading_costs_quote_units": 85.80713258382195,
      "borrowing_costs_quote_units": 117.53780455201326,
      "price_pnl_quote_units": -1928.2969687261045,
      "turnover_quote_units": 28602.377527940647,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8034.857696717025,
      "return_pct": -19.65142303282975,
      "cagr_pct": -49.54104706165792,
      "max_drawdown_pct": 45.46775688016206,
      "mean_exposure_while_solvent": 1.3107952787431592,
      "realized_annual_volatility_pct": 60.067009941459595,
      "trading_costs_quote_units": 128.24874339256522,
      "borrowing_costs_quote_units": 90.38033605583924,
      "price_pnl_quote_units": -1746.5132238345668,
      "turnover_quote_units": 42749.5811308551,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7670.688452251534,
      "return_pct": -23.293115477484662,
      "cagr_pct": -56.35207790041606,
      "max_drawdown_pct": 48.1202831898896,
      "mean_exposure_while_solvent": 1.2602114767598647,
      "realized_annual_volatility_pct": 61.100521804558184,
      "trading_costs_quote_units": 75.76139983321829,
      "borrowing_costs_quote_units": 69.74900522098139,
      "price_pnl_quote_units": -2183.801142694263,
      "turnover_quote_units": 25253.79994440609,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8807.324608387116,
      "return_pct": -11.92675391612884,
      "cagr_pct": -32.76914047817351,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9937047696074672,
      "realized_annual_volatility_pct": 46.83086534030533,
      "trading_costs_quote_units": 34.29553054090939,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1158.379861071976,
      "turnover_quote_units": 11431.843513636462,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 9147.484435749044,
      "return_pct": -8.525155642509564,
      "cagr_pct": -24.313322030307106,
      "max_drawdown_pct": 27.660419638611312,
      "mean_exposure_while_solvent": 0.7487816963649345,
      "realized_annual_volatility_pct": 35.33576372931317,
      "trading_costs_quote_units": 33.10659884615969,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -819.4089654047963,
      "turnover_quote_units": 11035.532948719903,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8802.721144303043,
      "return_pct": -11.972788556969572,
      "cagr_pct": -32.87893774466498,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9985754985754985,
      "realized_annual_volatility_pct": 47.185259252466466,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1167.3685865045313,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 8332.777488122043,
      "return_pct": -16.672225118779572,
      "cagr_pct": -43.45825516346484,
      "max_drawdown_pct": 42.43864853937539,
      "mean_exposure_while_solvent": 1.2485532743764054,
      "realized_annual_volatility_pct": 59.08568836506729,
      "trading_costs_quote_units": 53.52373255601607,
      "borrowing_costs_quote_units": 65.89629879096599,
      "price_pnl_quote_units": -1547.8024805309826,
      "turnover_quote_units": 17841.2441853387,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 7840.089934636213,
      "return_pct": -21.59910065363787,
      "cagr_pct": -53.267248272518984,
      "max_drawdown_pct": 48.98724732842924,
      "mean_exposure_while_solvent": 1.4987232260897583,
      "realized_annual_volatility_pct": 71.04255213632528,
      "trading_costs_quote_units": 81.6072326013941,
      "borrowing_costs_quote_units": 125.70397317032955,
      "price_pnl_quote_units": -1952.598859592075,
      "turnover_quote_units": 27202.410867131377,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8312.13904869634,
      "return_pct": -16.878609513036615,
      "cagr_pct": -43.894907452154,
      "max_drawdown_pct": 38.662127880668784,
      "mean_exposure_while_solvent": 0.9039149475392043,
      "realized_annual_volatility_pct": 42.16502097417721,
      "trading_costs_quote_units": 86.20757869619709,
      "borrowing_costs_quote_units": 26.836452428389933,
      "price_pnl_quote_units": -1574.8169201790683,
      "turnover_quote_units": 28735.859565399034,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7908.031102120829,
      "return_pct": -20.919688978791704,
      "cagr_pct": -51.9894789344004,
      "max_drawdown_pct": 48.25549841735363,
      "mean_exposure_while_solvent": 1.2935722873139712,
      "realized_annual_volatility_pct": 60.26812466609112,
      "trading_costs_quote_units": 92.98662875867811,
      "borrowing_costs_quote_units": 165.3951749353724,
      "price_pnl_quote_units": -1833.5870941851215,
      "turnover_quote_units": 30995.542919559328,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7753.139414613874,
      "return_pct": -22.468605853861266,
      "cagr_pct": -54.868525422834225,
      "max_drawdown_pct": 49.06771279219898,
      "mean_exposure_while_solvent": 1.4590023339823148,
      "realized_annual_volatility_pct": 68.55808057246477,
      "trading_costs_quote_units": 85.57606419133658,
      "borrowing_costs_quote_units": 233.53522460515532,
      "price_pnl_quote_units": -1927.7492965896458,
      "turnover_quote_units": 28525.354730445513,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7949.938972901046,
      "return_pct": -20.50061027098954,
      "cagr_pct": -51.18958599778918,
      "max_drawdown_pct": 45.63418387674984,
      "mean_exposure_while_solvent": 1.3108502794459385,
      "realized_annual_volatility_pct": 60.07132605583675,
      "trading_costs_quote_units": 127.82375794547356,
      "borrowing_costs_quote_units": 179.9175916552535,
      "price_pnl_quote_units": -1742.319677498236,
      "turnover_quote_units": 42607.91931515786,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7606.545711791032,
      "return_pct": -23.934542882089684,
      "cagr_pct": -57.483004248927884,
      "max_drawdown_pct": 48.273103639046646,
      "mean_exposure_while_solvent": 1.2602512918168514,
      "realized_annual_volatility_pct": 61.10668567512819,
      "trading_costs_quote_units": 75.57982353475782,
      "borrowing_costs_quote_units": 138.99268302235734,
      "price_pnl_quote_units": -2178.881781651841,
      "turnover_quote_units": 25193.274511585958,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8807.324608387116,
      "return_pct": -11.92675391612884,
      "cagr_pct": -32.76914047817351,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9937047696074672,
      "realized_annual_volatility_pct": 46.83086534030533,
      "trading_costs_quote_units": 34.29553054090939,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1158.379861071976,
      "turnover_quote_units": 11431.843513636462,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 9147.484435749044,
      "return_pct": -8.525155642509564,
      "cagr_pct": -24.313322030307106,
      "max_drawdown_pct": 27.660419638611312,
      "mean_exposure_while_solvent": 0.7487816963649345,
      "realized_annual_volatility_pct": 35.33576372931317,
      "trading_costs_quote_units": 33.10659884615969,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -819.4089654047963,
      "turnover_quote_units": 11035.532948719903,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8802.721144303043,
      "return_pct": -11.972788556969572,
      "cagr_pct": -32.87893774466498,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9985754985754985,
      "realized_annual_volatility_pct": 47.185259252466466,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1167.3685865045313,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 8266.32054368458,
      "return_pct": -17.3367945631542,
      "cagr_pct": -44.85609163394756,
      "max_drawdown_pct": 42.52825361049667,
      "mean_exposure_while_solvent": 1.2485889080887387,
      "realized_annual_volatility_pct": 59.08823309659697,
      "trading_costs_quote_units": 53.48554279227243,
      "borrowing_costs_quote_units": 131.31842410940564,
      "price_pnl_quote_units": -1548.8754894137371,
      "turnover_quote_units": 17828.514264090816,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 7715.424921649228,
      "return_pct": -22.845750783507725,
      "cagr_pct": -55.55131362902193,
      "max_drawdown_pct": 49.27481352220244,
      "mean_exposure_while_solvent": 1.498808852693229,
      "realized_annual_volatility_pct": 71.04870990546202,
      "trading_costs_quote_units": 81.39811801635197,
      "borrowing_costs_quote_units": 249.61115547108332,
      "price_pnl_quote_units": -1953.5658048633522,
      "turnover_quote_units": 27132.706005450676,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8305.537448550902,
      "return_pct": -16.944625514490987,
      "cagr_pct": -44.034093407946216,
      "max_drawdown_pct": 38.61857406630187,
      "mean_exposure_while_solvent": 0.9011206707933609,
      "realized_annual_volatility_pct": 42.25639909077898,
      "trading_costs_quote_units": 86.30258225313001,
      "borrowing_costs_quote_units": 6.653934945612622,
      "price_pnl_quote_units": -1601.5060342503568,
      "turnover_quote_units": 28767.527417709985,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8024.392781693015,
      "return_pct": -19.75607218306985,
      "cagr_pct": -49.74621889438491,
      "max_drawdown_pct": 47.93474791093886,
      "mean_exposure_while_solvent": 1.2892706607390583,
      "realized_annual_volatility_pct": 60.3893921804559,
      "trading_costs_quote_units": 92.22928395410577,
      "borrowing_costs_quote_units": 41.220888974752015,
      "price_pnl_quote_units": -1842.1570453781314,
      "turnover_quote_units": 30743.094651368585,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7892.014310424327,
      "return_pct": -21.079856895756734,
      "cagr_pct": -52.29282027524107,
      "max_drawdown_pct": 48.696159252365845,
      "mean_exposure_while_solvent": 1.4544447204624942,
      "realized_annual_volatility_pct": 68.50099735595502,
      "trading_costs_quote_units": 86.45596850085545,
      "borrowing_costs_quote_units": 58.4520745001757,
      "price_pnl_quote_units": -1963.077646574646,
      "turnover_quote_units": 28818.656166951823,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8016.8182237444835,
      "return_pct": -19.831817762555172,
      "cagr_pct": -49.894368815360494,
      "max_drawdown_pct": 45.36415143044095,
      "mean_exposure_while_solvent": 1.3062551678466627,
      "realized_annual_volatility_pct": 60.18339931439717,
      "trading_costs_quote_units": 128.70762020758826,
      "borrowing_costs_quote_units": 44.74008052551988,
      "price_pnl_quote_units": -1809.7340755224004,
      "turnover_quote_units": 42902.54006919606,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7726.535830243054,
      "return_pct": -22.734641697569458,
      "cagr_pct": -55.35089556357238,
      "max_drawdown_pct": 47.90764659475215,
      "mean_exposure_while_solvent": 1.256419426753306,
      "realized_annual_volatility_pct": 61.14736002277618,
      "trading_costs_quote_units": 74.12919956084978,
      "borrowing_costs_quote_units": 34.691860595155305,
      "price_pnl_quote_units": -2164.643109600945,
      "turnover_quote_units": 24709.733186949932,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8766.031182511717,
      "return_pct": -12.339688174882834,
      "cagr_pct": -33.74967459927874,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9908778651077826,
      "realized_annual_volatility_pct": 46.830370184063,
      "trading_costs_quote_units": 34.33604780189439,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1199.6327696863905,
      "turnover_quote_units": 11445.34926729813,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 9104.26046830284,
      "return_pct": -8.957395316971596,
      "cagr_pct": -25.425777303148333,
      "max_drawdown_pct": 27.702363777332618,
      "mean_exposure_while_solvent": 0.7467247687647284,
      "realized_annual_volatility_pct": 35.34024718611542,
      "trading_costs_quote_units": 33.228350221692644,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -862.5111814754638,
      "turnover_quote_units": 11076.116740564217,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8762.69340360567,
      "return_pct": -12.373065963943297,
      "cagr_pct": -33.82850436125076,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9957264957264956,
      "realized_annual_volatility_pct": 47.17806204470717,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1207.3963272019082,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 8336.563657026098,
      "return_pct": -16.634363429739018,
      "cagr_pct": -43.37790021353338,
      "max_drawdown_pct": 42.33338520564758,
      "mean_exposure_while_solvent": 1.2448453812063947,
      "realized_annual_volatility_pct": 59.052599379545555,
      "trading_costs_quote_units": 53.70756428755119,
      "borrowing_costs_quote_units": 32.74478081894462,
      "price_pnl_quote_units": -1576.9839978674108,
      "turnover_quote_units": 17902.52142918373,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 7890.055767026037,
      "return_pct": -21.099442329739627,
      "cagr_pct": -52.32982336165559,
      "max_drawdown_pct": 48.696159252365845,
      "mean_exposure_while_solvent": 1.4941033954800298,
      "realized_annual_volatility_pct": 70.97133667075781,
      "trading_costs_quote_units": 82.0890830462028,
      "borrowing_costs_quote_units": 62.62897544607258,
      "price_pnl_quote_units": -1965.2261744816876,
      "turnover_quote_units": 27363.027682067594,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8299.926652810573,
      "return_pct": -17.000733471894268,
      "cagr_pct": -44.15220479734971,
      "max_drawdown_pct": 38.65607627674977,
      "mean_exposure_while_solvent": 0.9011236441029981,
      "realized_annual_volatility_pct": 42.25755804554074,
      "trading_costs_quote_units": 86.28347347081858,
      "borrowing_costs_quote_units": 13.304506603799307,
      "price_pnl_quote_units": -1600.4853671148107,
      "turnover_quote_units": 28761.157823606198,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7986.159575284601,
      "return_pct": -20.138404247153996,
      "cagr_pct": -50.490983859347395,
      "max_drawdown_pct": 48.01509499619369,
      "mean_exposure_while_solvent": 1.2892949828067477,
      "realized_annual_volatility_pct": 60.391121417907435,
      "trading_costs_quote_units": 92.1093223280003,
      "borrowing_costs_quote_units": 82.26891057690202,
      "price_pnl_quote_units": -1839.4621918105036,
      "turnover_quote_units": 30703.10744266678,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7834.232158899269,
      "return_pct": -21.657678411007307,
      "cagr_pct": -53.37631982584793,
      "max_drawdown_pct": 48.77617050183216,
      "mean_exposure_while_solvent": 1.4544831586002078,
      "realized_annual_volatility_pct": 68.50329252853172,
      "trading_costs_quote_units": 86.31476563554888,
      "borrowing_costs_quote_units": 116.52072655776861,
      "price_pnl_quote_units": -1962.93234890742,
      "turnover_quote_units": 28771.588545182978,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7974.540763551902,
      "return_pct": -20.25459236448097,
      "cagr_pct": -50.715816626407985,
      "max_drawdown_pct": 45.447949740421876,
      "mean_exposure_while_solvent": 1.3062824058216544,
      "realized_annual_volatility_pct": 60.1850801453272,
      "trading_costs_quote_units": 128.48676973327028,
      "borrowing_costs_quote_units": 89.27184760946005,
      "price_pnl_quote_units": -1807.700619105365,
      "turnover_quote_units": 42828.92324442341,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7694.310209245147,
      "return_pct": -23.056897907548525,
      "cagr_pct": -55.93049205124496,
      "max_drawdown_pct": 47.983956322284286,
      "mean_exposure_while_solvent": 1.2564392080129123,
      "realized_annual_volatility_pct": 61.149843268252425,
      "trading_costs_quote_units": 74.04558970100838,
      "borrowing_costs_quote_units": 69.25805191176751,
      "price_pnl_quote_units": -2162.3861491420575,
      "turnover_quote_units": 24681.86323366948,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8766.031182511717,
      "return_pct": -12.339688174882834,
      "cagr_pct": -33.74967459927874,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9908778651077826,
      "realized_annual_volatility_pct": 46.830370184063,
      "trading_costs_quote_units": 34.33604780189439,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1199.6327696863905,
      "turnover_quote_units": 11445.34926729813,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 9104.26046830284,
      "return_pct": -8.957395316971596,
      "cagr_pct": -25.425777303148333,
      "max_drawdown_pct": 27.702363777332618,
      "mean_exposure_while_solvent": 0.7467247687647284,
      "realized_annual_volatility_pct": 35.34024718611542,
      "trading_costs_quote_units": 33.228350221692644,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -862.5111814754638,
      "turnover_quote_units": 11076.116740564217,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8762.69340360567,
      "return_pct": -12.373065963943297,
      "cagr_pct": -33.82850436125076,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9957264957264956,
      "realized_annual_volatility_pct": 47.17806204470717,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1207.3963272019082,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 8303.363704682266,
      "return_pct": -16.966362953177338,
      "cagr_pct": -44.079872458909314,
      "max_drawdown_pct": 42.37814285603019,
      "mean_exposure_while_solvent": 1.2448630938124086,
      "realized_annual_volatility_pct": 59.053621767870666,
      "trading_costs_quote_units": 53.67968273952957,
      "borrowing_costs_quote_units": 65.37180416946556,
      "price_pnl_quote_units": -1577.584808408733,
      "turnover_quote_units": 17893.227579843173,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 7827.291478047913,
      "return_pct": -21.72708521952087,
      "cagr_pct": -53.50533076640607,
      "max_drawdown_pct": 48.77617050183216,
      "mean_exposure_while_solvent": 1.4941459472463443,
      "realized_annual_volatility_pct": 70.97380495723507,
      "trading_costs_quote_units": 81.95992239115498,
      "borrowing_costs_quote_units": 124.80926277549958,
      "price_pnl_quote_units": -1965.9393367854373,
      "turnover_quote_units": 27319.974130385002,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8288.713958157527,
      "return_pct": -17.112860418424734,
      "cagr_pct": -44.38773215416275,
      "max_drawdown_pct": 38.731028864519665,
      "mean_exposure_while_solvent": 0.9011295916361609,
      "realized_annual_volatility_pct": 42.25988311153507,
      "trading_costs_quote_units": 86.24527926689123,
      "borrowing_costs_quote_units": 26.595564525393872,
      "price_pnl_quote_units": -1598.4451980501904,
      "turnover_quote_units": 28748.42642229706,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7910.2119299143005,
      "return_pct": -20.897880700856998,
      "cagr_pct": -51.948075134322636,
      "max_drawdown_pct": 48.17546145205777,
      "mean_exposure_while_solvent": 1.2893436367927036,
      "realized_annual_volatility_pct": 60.39460327666192,
      "trading_costs_quote_units": 91.87990769929013,
      "borrowing_costs_quote_units": 163.84918618233453,
      "price_pnl_quote_units": -1834.058976204068,
      "turnover_quote_units": 30626.63589976338,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7719.893652673645,
      "return_pct": -22.80106347326355,
      "cagr_pct": -55.4707805788929,
      "max_drawdown_pct": 48.93586277724932,
      "mean_exposure_while_solvent": 1.454560051054931,
      "realized_annual_volatility_pct": 68.50788943672461,
      "trading_costs_quote_units": 86.04608745623267,
      "borrowing_costs_quote_units": 231.51806020058572,
      "price_pnl_quote_units": -1962.5421996695354,
      "turnover_quote_units": 28682.02915207757,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7890.624317831955,
      "return_pct": -21.093756821680454,
      "cagr_pct": -52.319083648183685,
      "max_drawdown_pct": 45.61520585003298,
      "mean_exposure_while_solvent": 1.3063368929835972,
      "realized_annual_volatility_pct": 60.188465599009746,
      "trading_costs_quote_units": 128.056348123965,
      "borrowing_costs_quote_units": 177.71429647684528,
      "price_pnl_quote_units": -1803.605037567235,
      "turnover_quote_units": 42685.44937465497,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7630.2463932294295,
      "return_pct": -23.697536067705705,
      "cagr_pct": -57.06747912726411,
      "max_drawdown_pct": 48.13628160393034,
      "mean_exposure_while_solvent": 1.256478777580824,
      "realized_annual_volatility_pct": 61.15482122375183,
      "trading_costs_quote_units": 73.87893152126462,
      "borrowing_costs_quote_units": 138.0152984001434,
      "price_pnl_quote_units": -2157.859376849164,
      "turnover_quote_units": 24626.310507088212,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8766.031182511717,
      "return_pct": -12.339688174882834,
      "cagr_pct": -33.74967459927874,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9908778651077826,
      "realized_annual_volatility_pct": 46.830370184063,
      "trading_costs_quote_units": 34.33604780189439,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1199.6327696863905,
      "turnover_quote_units": 11445.34926729813,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 14,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 9104.26046830284,
      "return_pct": -8.957395316971596,
      "cagr_pct": -25.425777303148333,
      "max_drawdown_pct": 27.702363777332618,
      "mean_exposure_while_solvent": 0.7467247687647284,
      "realized_annual_volatility_pct": 35.34024718611542,
      "trading_costs_quote_units": 33.228350221692644,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -862.5111814754638,
      "turnover_quote_units": 11076.116740564217,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8762.69340360567,
      "return_pct": -12.373065963943297,
      "cagr_pct": -33.82850436125076,
      "max_drawdown_pct": 35.32278331223342,
      "mean_exposure_while_solvent": 0.9957264957264956,
      "realized_annual_volatility_pct": 47.17806204470717,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": -1207.3963272019082,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 8237.342185172456,
      "return_pct": -17.626578148275442,
      "cagr_pct": -45.458183957896686,
      "max_drawdown_pct": 42.467573875330544,
      "mean_exposure_while_solvent": 1.244898524472713,
      "realized_annual_volatility_pct": 59.0556669852232,
      "trading_costs_quote_units": 53.62809409001904,
      "borrowing_costs_quote_units": 130.27425823187642,
      "price_pnl_quote_units": -1578.7554625056355,
      "turnover_quote_units": 17876.03136333968,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2026_partial",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 7703.216054843846,
      "return_pct": -22.967839451561545,
      "cagr_pct": -55.77083009698741,
      "max_drawdown_pct": 48.93586277724932,
      "mean_exposure_while_solvent": 1.4942310692256795,
      "realized_annual_volatility_pct": 70.97874316509677,
      "trading_costs_quote_units": 81.71303558527843,
      "borrowing_costs_quote_units": 247.83704198760026,
      "price_pnl_quote_units": -1967.2338675832666,
      "turnover_quote_units": 27237.678528426175,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 117,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13345.822401065894,
      "return_pct": 33.458224010658945,
      "cagr_pct": 227.62267336125603,
      "max_drawdown_pct": 12.216179735607003,
      "mean_exposure_while_solvent": 1.0788899835327748,
      "realized_annual_volatility_pct": 40.84242148316946,
      "trading_costs_quote_units": 17.41227415932598,
      "borrowing_costs_quote_units": 15.45111112805275,
      "price_pnl_quote_units": 3378.685786353283,
      "turnover_quote_units": 29020.456932209992,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13826.419133659443,
      "return_pct": 38.26419133659442,
      "cagr_pct": 278.91920459801884,
      "max_drawdown_pct": 17.897078336731376,
      "mean_exposure_while_solvent": 1.4370290189703758,
      "realized_annual_volatility_pct": 53.35638224386858,
      "trading_costs_quote_units": 17.99827938249283,
      "borrowing_costs_quote_units": 58.67706211781317,
      "price_pnl_quote_units": 3903.094475159757,
      "turnover_quote_units": 29997.132304154697,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13917.638662196197,
      "return_pct": 39.17638662196197,
      "cagr_pct": 289.3039198872455,
      "max_drawdown_pct": 19.544337835790103,
      "mean_exposure_while_solvent": 1.4965264715887878,
      "realized_annual_volatility_pct": 55.908974977613326,
      "trading_costs_quote_units": 14.745281058864938,
      "borrowing_costs_quote_units": 66.072537185529,
      "price_pnl_quote_units": 3998.4564804405977,
      "turnover_quote_units": 24575.46843144156,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13855.489538689199,
      "return_pct": 38.554895386891985,
      "cagr_pct": 282.2056215774809,
      "max_drawdown_pct": 17.12310260479626,
      "mean_exposure_while_solvent": 1.393547999892901,
      "realized_annual_volatility_pct": 52.282904855676016,
      "trading_costs_quote_units": 21.293616023272442,
      "borrowing_costs_quote_units": 51.832491283022286,
      "price_pnl_quote_units": 3928.615645995511,
      "turnover_quote_units": 35489.36003878739,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13891.53643823107,
      "return_pct": 38.91536438231071,
      "cagr_pct": 286.3106381596549,
      "max_drawdown_pct": 19.458669677819085,
      "mean_exposure_while_solvent": 1.472461299575425,
      "realized_annual_volatility_pct": 55.266341620465894,
      "trading_costs_quote_units": 15.182683995532754,
      "borrowing_costs_quote_units": 62.9910043417598,
      "price_pnl_quote_units": 3969.7101265683705,
      "turnover_quote_units": 25304.473325887917,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 12618.884850040513,
      "return_pct": 26.188848500405125,
      "cagr_pct": 160.2322462272597,
      "max_drawdown_pct": 13.35945200745673,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.36767959103495,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2624.8812521992186,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 11940.143702475989,
      "return_pct": 19.401437024759893,
      "cagr_pct": 107.31702398072937,
      "max_drawdown_pct": 10.171206543858535,
      "mean_exposure_while_solvent": 0.7487942385174409,
      "realized_annual_volatility_pct": 28.064860148536898,
      "trading_costs_quote_units": 5.869635687369938,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1946.0133381633548,
      "turnover_quote_units": 9782.726145616558,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 12618.884850040513,
      "return_pct": 26.188848500405125,
      "cagr_pct": 160.2322462272597,
      "max_drawdown_pct": 13.35945200745673,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.36767959103495,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2624.8812521992186,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13265.587473485535,
      "return_pct": 32.65587473485536,
      "cagr_pct": 219.59957067333332,
      "max_drawdown_pct": 16.499667765549,
      "mean_exposure_while_solvent": 1.2473701931272514,
      "realized_annual_volatility_pct": 46.64842382163382,
      "trading_costs_quote_units": 9.855387766135884,
      "borrowing_costs_quote_units": 32.63355340805216,
      "price_pnl_quote_units": 3308.0764146597166,
      "turnover_quote_units": 16425.64627689313,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13917.638662196197,
      "return_pct": 39.17638662196197,
      "cagr_pct": 289.3039198872455,
      "max_drawdown_pct": 19.544337835790103,
      "mean_exposure_while_solvent": 1.4965264715887878,
      "realized_annual_volatility_pct": 55.908974977613326,
      "trading_costs_quote_units": 14.745281058864938,
      "borrowing_costs_quote_units": 66.072537185529,
      "price_pnl_quote_units": 3998.4564804405977,
      "turnover_quote_units": 24575.46843144156,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13326.33349540627,
      "return_pct": 33.26333495406271,
      "cagr_pct": 225.66002036167384,
      "max_drawdown_pct": 12.216179735607003,
      "mean_exposure_while_solvent": 1.0788992023753736,
      "realized_annual_volatility_pct": 40.84173150898101,
      "trading_costs_quote_units": 17.402915284085292,
      "borrowing_costs_quote_units": 30.881296331448507,
      "price_pnl_quote_units": 3374.6177070218046,
      "turnover_quote_units": 29004.858806808836,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13752.973516421209,
      "return_pct": 37.5297351642121,
      "cagr_pct": 270.71141076740247,
      "max_drawdown_pct": 17.954842201948395,
      "mean_exposure_while_solvent": 1.4370653990983722,
      "realized_annual_volatility_pct": 53.35793367059827,
      "trading_costs_quote_units": 17.973958065685807,
      "borrowing_costs_quote_units": 117.03395400589959,
      "price_pnl_quote_units": 3887.981428492804,
      "turnover_quote_units": 29956.596776143026,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13833.69832736467,
      "return_pct": 38.336983273646695,
      "cagr_pct": 279.74010440593133,
      "max_drawdown_pct": 19.627987374707345,
      "mean_exposure_while_solvent": 1.4965689766518764,
      "realized_annual_volatility_pct": 55.91101679899367,
      "trading_costs_quote_units": 14.720165618301959,
      "borrowing_costs_quote_units": 131.7347318689849,
      "price_pnl_quote_units": 3980.1532248519597,
      "turnover_quote_units": 24533.609363836615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13789.19199446894,
      "return_pct": 37.89191994468939,
      "cagr_pct": 274.74194739938264,
      "max_drawdown_pct": 17.171451842650765,
      "mean_exposure_while_solvent": 1.393580298789698,
      "realized_annual_volatility_pct": 52.284026315848294,
      "trading_costs_quote_units": 21.257966822050893,
      "borrowing_costs_quote_units": 103.41172774728278,
      "price_pnl_quote_units": 3913.861689038298,
      "turnover_quote_units": 35429.94470341812,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13811.80093548588,
      "return_pct": 38.118009354858806,
      "cagr_pct": 277.27471709087797,
      "max_drawdown_pct": 19.540480372292024,
      "mean_exposure_while_solvent": 1.472501143999757,
      "realized_annual_volatility_pct": 55.268208180151305,
      "trading_costs_quote_units": 15.158440950332299,
      "borrowing_costs_quote_units": 125.6096487222957,
      "price_pnl_quote_units": 3952.569025158499,
      "turnover_quote_units": 25264.068250553853,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 12618.884850040513,
      "return_pct": 26.188848500405125,
      "cagr_pct": 160.2322462272597,
      "max_drawdown_pct": 13.35945200745673,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.36767959103495,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2624.8812521992186,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 11940.143702475989,
      "return_pct": 19.401437024759893,
      "cagr_pct": 107.31702398072937,
      "max_drawdown_pct": 10.171206543858535,
      "mean_exposure_while_solvent": 0.7487942385174409,
      "realized_annual_volatility_pct": 28.064860148536898,
      "trading_costs_quote_units": 5.869635687369938,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1946.0133381633548,
      "turnover_quote_units": 9782.726145616558,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 12618.884850040513,
      "return_pct": 26.188848500405125,
      "cagr_pct": 160.2322462272597,
      "max_drawdown_pct": 13.35945200745673,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.36767959103495,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2624.8812521992186,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13225.506441520614,
      "return_pct": 32.255064415206135,
      "cagr_pct": 215.64780777929138,
      "max_drawdown_pct": 16.542988898485746,
      "mean_exposure_while_solvent": 1.2473879126828133,
      "realized_annual_volatility_pct": 46.64927618540947,
      "trading_costs_quote_units": 9.849050608272965,
      "borrowing_costs_quote_units": 65.16837137340703,
      "price_pnl_quote_units": 3300.5238635022947,
      "turnover_quote_units": 16415.084347121596,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13833.69832736467,
      "return_pct": 38.336983273646695,
      "cagr_pct": 279.74010440593133,
      "max_drawdown_pct": 19.627987374707345,
      "mean_exposure_while_solvent": 1.4965689766518764,
      "realized_annual_volatility_pct": 55.91101679899367,
      "trading_costs_quote_units": 14.720165618301959,
      "borrowing_costs_quote_units": 131.7347318689849,
      "price_pnl_quote_units": 3980.1532248519597,
      "turnover_quote_units": 24533.609363836615,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13287.43162889649,
      "return_pct": 32.87431628896489,
      "cagr_pct": 221.76898107816183,
      "max_drawdown_pct": 12.216179735607003,
      "mean_exposure_while_solvent": 1.078917643401535,
      "realized_annual_volatility_pct": 40.84037398652368,
      "trading_costs_quote_units": 17.38422354194686,
      "borrowing_costs_quote_units": 61.67898679028918,
      "price_pnl_quote_units": 3366.4948392287274,
      "turnover_quote_units": 28973.705903244776,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13607.209761943297,
      "return_pct": 36.072097619432974,
      "cagr_pct": 254.82095860066804,
      "max_drawdown_pct": 18.070276709390388,
      "mean_exposure_while_solvent": 1.4371381743812586,
      "realized_annual_volatility_pct": 53.36104504470413,
      "trading_costs_quote_units": 17.928114999263766,
      "borrowing_costs_quote_units": 232.79384932096465,
      "price_pnl_quote_units": 3857.9317262635186,
      "turnover_quote_units": 29880.191665439626,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13667.285687897718,
      "return_pct": 36.672856878977186,
      "cagr_pct": 261.3063633671046,
      "max_drawdown_pct": 19.79507148737679,
      "mean_exposure_while_solvent": 1.496654005151562,
      "realized_annual_volatility_pct": 55.91510406208741,
      "trading_costs_quote_units": 14.672813821843999,
      "borrowing_costs_quote_units": 261.8377964686234,
      "price_pnl_quote_units": 3943.7962981881706,
      "turnover_quote_units": 24454.689703073327,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13657.513074889288,
      "return_pct": 36.57513074889287,
      "cagr_pct": 260.2453150967928,
      "max_drawdown_pct": 17.26808826066972,
      "mean_exposure_while_solvent": 1.3936449096319432,
      "realized_annual_volatility_pct": 52.286280217980504,
      "trading_costs_quote_units": 21.187055736747407,
      "borrowing_costs_quote_units": 205.81512254958238,
      "price_pnl_quote_units": 3884.515253175613,
      "turnover_quote_units": 35311.759561245686,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13653.653275825873,
      "return_pct": 36.53653275825872,
      "cagr_pct": 259.82689289735515,
      "max_drawdown_pct": 19.70389710943694,
      "mean_exposure_while_solvent": 1.4725808496329937,
      "realized_annual_volatility_pct": 55.271948147909725,
      "trading_costs_quote_units": 15.114465022963971,
      "borrowing_costs_quote_units": 249.73819614421853,
      "price_pnl_quote_units": 3918.5059369930655,
      "turnover_quote_units": 25190.77503827329,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12618.884850040513,
      "return_pct": 26.188848500405125,
      "cagr_pct": 160.2322462272597,
      "max_drawdown_pct": 13.35945200745673,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.36767959103495,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2624.8812521992186,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 11940.143702475989,
      "return_pct": 19.401437024759893,
      "cagr_pct": 107.31702398072937,
      "max_drawdown_pct": 10.171206543858535,
      "mean_exposure_while_solvent": 0.7487942385174409,
      "realized_annual_volatility_pct": 28.064860148536898,
      "trading_costs_quote_units": 5.869635687369938,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1946.0133381633548,
      "turnover_quote_units": 9782.726145616558,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12618.884850040513,
      "return_pct": 26.188848500405125,
      "cagr_pct": 160.2322462272597,
      "max_drawdown_pct": 13.35945200745673,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.36767959103495,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2624.8812521992186,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13145.688639835924,
      "return_pct": 31.45688639835924,
      "cagr_pct": 207.8884666094992,
      "max_drawdown_pct": 16.629583026701443,
      "mean_exposure_while_solvent": 1.2474233572374416,
      "realized_annual_volatility_pct": 46.65098225787009,
      "trading_costs_quote_units": 9.837440239426844,
      "borrowing_costs_quote_units": 129.9429156405726,
      "price_pnl_quote_units": 3285.468995715927,
      "turnover_quote_units": 16395.733732378052,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13667.285687897718,
      "return_pct": 36.672856878977186,
      "cagr_pct": 261.3063633671046,
      "max_drawdown_pct": 19.79507148737679,
      "mean_exposure_while_solvent": 1.496654005151562,
      "realized_annual_volatility_pct": 55.91510406208741,
      "trading_costs_quote_units": 14.672813821843999,
      "borrowing_costs_quote_units": 261.8377964686234,
      "price_pnl_quote_units": 3943.7962981881706,
      "turnover_quote_units": 24454.689703073327,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13491.076695953441,
      "return_pct": 34.91076695953441,
      "cagr_pct": 242.5341240140165,
      "max_drawdown_pct": 12.189900971227207,
      "mean_exposure_while_solvent": 1.0751479208742003,
      "realized_annual_volatility_pct": 41.15849933426027,
      "trading_costs_quote_units": 17.455880562783914,
      "borrowing_costs_quote_units": 15.543492411953332,
      "price_pnl_quote_units": 3524.076068928183,
      "turnover_quote_units": 29093.13427130653,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13831.374758251699,
      "return_pct": 38.313747582516996,
      "cagr_pct": 279.47792140294524,
      "max_drawdown_pct": 17.90185887893473,
      "mean_exposure_while_solvent": 1.4313219313309462,
      "realized_annual_volatility_pct": 53.3096065999767,
      "trading_costs_quote_units": 17.245639924892572,
      "borrowing_costs_quote_units": 58.433335543078705,
      "price_pnl_quote_units": 3907.053733719668,
      "turnover_quote_units": 28742.733208154285,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13891.148221787578,
      "return_pct": 38.91148221787579,
      "cagr_pct": 286.26625116967375,
      "max_drawdown_pct": 19.597573820249814,
      "mean_exposure_while_solvent": 1.4906959221995129,
      "realized_annual_volatility_pct": 55.79672674767336,
      "trading_costs_quote_units": 14.67504683879853,
      "borrowing_costs_quote_units": 65.69595976001439,
      "price_pnl_quote_units": 3971.5192283864026,
      "turnover_quote_units": 24458.411397997545,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13772.044949127452,
      "return_pct": 37.72044949127451,
      "cagr_pct": 272.82964418223014,
      "max_drawdown_pct": 17.185849591990753,
      "mean_exposure_while_solvent": 1.387955455981719,
      "realized_annual_volatility_pct": 52.28724188030929,
      "trading_costs_quote_units": 21.692914427454923,
      "borrowing_costs_quote_units": 51.412497013388034,
      "price_pnl_quote_units": 3845.1503605682933,
      "turnover_quote_units": 36154.85737909153,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13873.93589757743,
      "return_pct": 38.739358975774294,
      "cagr_pct": 284.3021443752498,
      "max_drawdown_pct": 19.533510471414516,
      "mean_exposure_while_solvent": 1.4666350593452457,
      "realized_annual_volatility_pct": 55.191870408947544,
      "trading_costs_quote_units": 14.922320793991396,
      "borrowing_costs_quote_units": 62.64100505250683,
      "price_pnl_quote_units": 3951.4992234239385,
      "turnover_quote_units": 24870.534656652337,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 12610.709213351007,
      "return_pct": 26.10709213351008,
      "cagr_pct": 159.53971685983123,
      "max_drawdown_pct": 13.359452007456706,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.326746972372504,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2616.7056155097125,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 11937.451550511472,
      "return_pct": 19.37451550511473,
      "cagr_pct": 107.12489764489148,
      "max_drawdown_pct": 10.15763661831921,
      "mean_exposure_while_solvent": 0.7460407372557569,
      "realized_annual_volatility_pct": 28.047598298382336,
      "trading_costs_quote_units": 5.870216056424521,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1943.3217665679006,
      "turnover_quote_units": 9783.693427374203,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 12610.709213351007,
      "return_pct": 26.10709213351008,
      "cagr_pct": 159.53971685983123,
      "max_drawdown_pct": 13.359452007456706,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.326746972372504,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2616.7056155097125,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13249.547335777605,
      "return_pct": 32.49547335777605,
      "cagr_pct": 218.0136371439556,
      "max_drawdown_pct": 16.52260944964524,
      "mean_exposure_while_solvent": 1.242598654668841,
      "realized_annual_volatility_pct": 46.57531334718633,
      "trading_costs_quote_units": 9.836671793231591,
      "borrowing_costs_quote_units": 32.469517472570615,
      "price_pnl_quote_units": 3291.8535250434115,
      "turnover_quote_units": 16394.452988719317,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13891.148221787578,
      "return_pct": 38.91148221787579,
      "cagr_pct": 286.26625116967375,
      "max_drawdown_pct": 19.597573820249814,
      "mean_exposure_while_solvent": 1.4906959221995129,
      "realized_annual_volatility_pct": 55.79672674767336,
      "trading_costs_quote_units": 14.67504683879853,
      "borrowing_costs_quote_units": 65.69595976001439,
      "price_pnl_quote_units": 3971.5192283864026,
      "turnover_quote_units": 24458.411397997545,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13471.406716146872,
      "return_pct": 34.71406716146872,
      "cagr_pct": 240.4853683763695,
      "max_drawdown_pct": 12.189900971227207,
      "mean_exposure_while_solvent": 1.0751571440448342,
      "realized_annual_volatility_pct": 41.1573329471504,
      "trading_costs_quote_units": 17.446506551066342,
      "borrowing_costs_quote_units": 31.065894770660623,
      "price_pnl_quote_units": 3519.919117468596,
      "turnover_quote_units": 29077.510918443924,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13758.21848829956,
      "return_pct": 37.582184882995605,
      "cagr_pct": 271.29305102102006,
      "max_drawdown_pct": 17.96043674347867,
      "mean_exposure_while_solvent": 1.431358042637637,
      "realized_annual_volatility_pct": 53.31076226443007,
      "trading_costs_quote_units": 17.223915264139986,
      "borrowing_costs_quote_units": 116.54910924044023,
      "price_pnl_quote_units": 3891.9915128041216,
      "turnover_quote_units": 28706.525440233305,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13807.677726308713,
      "return_pct": 38.07677726308714,
      "cagr_pct": 276.81185105861255,
      "max_drawdown_pct": 19.681140651955598,
      "mean_exposure_while_solvent": 1.4907381366573604,
      "realized_annual_volatility_pct": 55.798375427015344,
      "trading_costs_quote_units": 14.65158123626324,
      "borrowing_costs_quote_units": 130.98538238689747,
      "price_pnl_quote_units": 3953.3146899318735,
      "turnover_quote_units": 24419.30206043874,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13706.43080995472,
      "return_pct": 37.06430809954719,
      "cagr_pct": 265.58022145588706,
      "max_drawdown_pct": 17.233314295765812,
      "mean_exposure_while_solvent": 1.3879875050842216,
      "realized_annual_volatility_pct": 52.28816948631643,
      "trading_costs_quote_units": 21.6648469025121,
      "borrowing_costs_quote_units": 102.57500370089014,
      "price_pnl_quote_units": 3830.6706605581226,
      "turnover_quote_units": 36108.07817085349,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13794.623536391771,
      "return_pct": 37.9462353639177,
      "cagr_pct": 275.3492386653687,
      "max_drawdown_pct": 19.61534248734027,
      "mean_exposure_while_solvent": 1.4666746103571828,
      "realized_annual_volatility_pct": 55.19334488577875,
      "trading_costs_quote_units": 14.89251385552954,
      "borrowing_costs_quote_units": 124.91313536082077,
      "price_pnl_quote_units": 3934.42918560812,
      "turnover_quote_units": 24820.85642588257,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 12610.709213351007,
      "return_pct": 26.10709213351008,
      "cagr_pct": 159.53971685983123,
      "max_drawdown_pct": 13.359452007456706,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.326746972372504,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2616.7056155097125,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 11937.451550511472,
      "return_pct": 19.37451550511473,
      "cagr_pct": 107.12489764489148,
      "max_drawdown_pct": 10.15763661831921,
      "mean_exposure_while_solvent": 0.7460407372557569,
      "realized_annual_volatility_pct": 28.047598298382336,
      "trading_costs_quote_units": 5.870216056424521,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1943.3217665679006,
      "turnover_quote_units": 9783.693427374203,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 12610.709213351007,
      "return_pct": 26.10709213351008,
      "cagr_pct": 159.53971685983123,
      "max_drawdown_pct": 13.359452007456706,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.326746972372504,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2616.7056155097125,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13209.66376781137,
      "return_pct": 32.0966376781137,
      "cagr_pct": 214.09605066071026,
      "max_drawdown_pct": 16.565905156929052,
      "mean_exposure_while_solvent": 1.2426162535443184,
      "realized_annual_volatility_pct": 46.57600218298027,
      "trading_costs_quote_units": 9.830718960853629,
      "borrowing_costs_quote_units": 64.84115176005714,
      "price_pnl_quote_units": 3284.3356385322813,
      "turnover_quote_units": 16384.53160142273,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13807.677726308713,
      "return_pct": 38.07677726308714,
      "cagr_pct": 276.81185105861255,
      "max_drawdown_pct": 19.681140651955598,
      "mean_exposure_while_solvent": 1.4907381366573604,
      "realized_annual_volatility_pct": 55.798375427015344,
      "trading_costs_quote_units": 14.65158123626324,
      "borrowing_costs_quote_units": 130.98538238689747,
      "price_pnl_quote_units": 3953.3146899318735,
      "turnover_quote_units": 24419.30206043874,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13432.143282093391,
      "return_pct": 34.321432820933914,
      "cagr_pct": 236.42357055792306,
      "max_drawdown_pct": 12.189900971227207,
      "mean_exposure_while_solvent": 1.0751755937309182,
      "realized_annual_volatility_pct": 41.15502190608762,
      "trading_costs_quote_units": 17.427784081136604,
      "borrowing_costs_quote_units": 62.04752799351972,
      "price_pnl_quote_units": 3511.618594168048,
      "turnover_quote_units": 29046.30680189436,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13613.026665380974,
      "return_pct": 36.13026665380974,
      "cagr_pct": 255.4450312387763,
      "max_drawdown_pct": 18.077496116454185,
      "mean_exposure_while_solvent": 1.431430280142107,
      "realized_annual_volatility_pct": 53.31308020221533,
      "trading_costs_quote_units": 17.180766036355585,
      "borrowing_costs_quote_units": 231.83452043240382,
      "price_pnl_quote_units": 3862.041951849731,
      "turnover_quote_units": 28634.610060592648,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13642.193649806395,
      "return_pct": 36.42193649806396,
      "cagr_pct": 258.58677687586436,
      "max_drawdown_pct": 19.848059689893372,
      "mean_exposure_while_solvent": 1.4908225837946003,
      "realized_annual_volatility_pct": 55.80167505220829,
      "trading_costs_quote_units": 14.605001183287378,
      "borrowing_costs_quote_units": 260.3542028263712,
      "price_pnl_quote_units": 3917.1528538160546,
      "turnover_quote_units": 24341.668638812294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13576.105268554418,
      "return_pct": 35.76105268554419,
      "cagr_pct": 251.497939851298,
      "max_drawdown_pct": 17.328184387525624,
      "mean_exposure_while_solvent": 1.3880516162171925,
      "realized_annual_volatility_pct": 52.29003607609546,
      "trading_costs_quote_units": 21.608991984872947,
      "borrowing_costs_quote_units": 204.1546496872029,
      "price_pnl_quote_units": 3801.8689102265016,
      "turnover_quote_units": 36014.986641454925,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13637.314593225365,
      "return_pct": 36.37314593225365,
      "cagr_pct": 258.05976728291273,
      "max_drawdown_pct": 19.778801547707314,
      "mean_exposure_while_solvent": 1.4667537290092258,
      "realized_annual_volatility_pct": 55.19629634815384,
      "trading_costs_quote_units": 14.833314082096036,
      "borrowing_costs_quote_units": 248.35903647163664,
      "price_pnl_quote_units": 3900.506943779079,
      "turnover_quote_units": 24722.19013682673,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12610.709213351007,
      "return_pct": 26.10709213351008,
      "cagr_pct": 159.53971685983123,
      "max_drawdown_pct": 13.359452007456706,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.326746972372504,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2616.7056155097125,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 11937.451550511472,
      "return_pct": 19.37451550511473,
      "cagr_pct": 107.12489764489148,
      "max_drawdown_pct": 10.15763661831921,
      "mean_exposure_while_solvent": 0.7460407372557569,
      "realized_annual_volatility_pct": 28.047598298382336,
      "trading_costs_quote_units": 5.870216056424521,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1943.3217665679006,
      "turnover_quote_units": 9783.693427374203,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12610.709213351007,
      "return_pct": 26.10709213351008,
      "cagr_pct": 159.53971685983123,
      "max_drawdown_pct": 13.359452007456706,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.326746972372504,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2616.7056155097125,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13130.238926188804,
      "return_pct": 31.30238926188804,
      "cagr_pct": 206.40338403505444,
      "max_drawdown_pct": 16.65244849643236,
      "mean_exposure_while_solvent": 1.2426514566928346,
      "realized_annual_volatility_pct": 46.57738057318061,
      "trading_costs_quote_units": 9.818861727116909,
      "borrowing_costs_quote_units": 129.29187358629204,
      "price_pnl_quote_units": 3269.349661502219,
      "turnover_quote_units": 16364.769545194857,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13642.193649806395,
      "return_pct": 36.42193649806396,
      "cagr_pct": 258.58677687586436,
      "max_drawdown_pct": 19.848059689893372,
      "mean_exposure_while_solvent": 1.4908225837946003,
      "realized_annual_volatility_pct": 55.80167505220829,
      "trading_costs_quote_units": 14.605001183287378,
      "borrowing_costs_quote_units": 260.3542028263712,
      "price_pnl_quote_units": 3917.1528538160546,
      "turnover_quote_units": 24341.668638812294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13257.834724547714,
      "return_pct": 32.57834724547715,
      "cagr_pct": 218.83228907525427,
      "max_drawdown_pct": 12.251435120644416,
      "mean_exposure_while_solvent": 1.0788899835327748,
      "realized_annual_volatility_pct": 40.84985080291014,
      "trading_costs_quote_units": 86.72660629838886,
      "borrowing_costs_quote_units": 15.37221681996596,
      "price_pnl_quote_units": 3359.93354766606,
      "turnover_quote_units": 28908.868766129603,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13731.014016417234,
      "return_pct": 37.31014016417233,
      "cagr_pct": 268.28369932479137,
      "max_drawdown_pct": 17.961587789033462,
      "mean_exposure_while_solvent": 1.4370290189703758,
      "realized_annual_volatility_pct": 53.3663813861897,
      "trading_costs_quote_units": 89.5710330177026,
      "borrowing_costs_quote_units": 58.3424305511084,
      "price_pnl_quote_units": 3878.9274799860486,
      "turnover_quote_units": 29857.011005900862,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13839.599557186322,
      "return_pct": 38.39599557186322,
      "cagr_pct": 280.4065937113749,
      "max_drawdown_pct": 19.569843694298918,
      "mean_exposure_while_solvent": 1.4965264715887878,
      "realized_annual_volatility_pct": 55.915739987156435,
      "trading_costs_quote_units": 73.4110773695763,
      "borrowing_costs_quote_units": 65.76966609214517,
      "price_pnl_quote_units": 3978.780300648036,
      "turnover_quote_units": 24470.35912319211,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13745.743635593837,
      "return_pct": 37.45743635593837,
      "cagr_pct": 269.91078505242336,
      "max_drawdown_pct": 17.27104426994972,
      "mean_exposure_while_solvent": 1.393547999892901,
      "realized_annual_volatility_pct": 52.28529123279597,
      "trading_costs_quote_units": 105.92370580988246,
      "borrowing_costs_quote_units": 51.52771153097748,
      "price_pnl_quote_units": 3903.1950529346996,
      "turnover_quote_units": 35307.901936627495,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13811.013295055454,
      "return_pct": 38.110132950554544,
      "cagr_pct": 277.1862643843043,
      "max_drawdown_pct": 19.49415169268941,
      "mean_exposure_while_solvent": 1.472461299575425,
      "realized_annual_volatility_pct": 55.27322131054423,
      "trading_costs_quote_units": 75.58493965796114,
      "borrowing_costs_quote_units": 62.69298560715858,
      "price_pnl_quote_units": 3949.2912203205838,
      "turnover_quote_units": 25194.979885987035,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 12588.690110618683,
      "return_pct": 25.886901106186833,
      "cagr_pct": 157.68149201674552,
      "max_drawdown_pct": 13.35945200745673,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.37357333807555,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2618.6003798111064,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 11912.574604601212,
      "return_pct": 19.125746046012114,
      "cagr_pct": 105.35591442313574,
      "max_drawdown_pct": 10.178184193845563,
      "mean_exposure_while_solvent": 0.7487942385174409,
      "realized_annual_volatility_pct": 28.06867145375823,
      "trading_costs_quote_units": 29.29641708884622,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1941.871021690056,
      "turnover_quote_units": 9765.47236294875,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 12588.690110618683,
      "return_pct": 25.886901106186833,
      "cagr_pct": 157.68149201674552,
      "max_drawdown_pct": 13.35945200745673,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.37357333807555,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2618.6003798111064,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13214.709440980017,
      "return_pct": 32.14709440980017,
      "cagr_pct": 214.58963591419257,
      "max_drawdown_pct": 16.510650198718512,
      "mean_exposure_while_solvent": 1.2473701931272514,
      "realized_annual_volatility_pct": 46.65486060745078,
      "trading_costs_quote_units": 49.11734919126764,
      "borrowing_costs_quote_units": 32.522521249495966,
      "price_pnl_quote_units": 3296.349311420783,
      "turnover_quote_units": 16372.44973042254,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13839.599557186322,
      "return_pct": 38.39599557186322,
      "cagr_pct": 280.4065937113749,
      "max_drawdown_pct": 19.569843694298918,
      "mean_exposure_while_solvent": 1.4965264715887878,
      "realized_annual_volatility_pct": 55.915739987156435,
      "trading_costs_quote_units": 73.4110773695763,
      "borrowing_costs_quote_units": 65.76966609214517,
      "price_pnl_quote_units": 3978.780300648036,
      "turnover_quote_units": 24470.35912319211,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13238.489347884335,
      "return_pct": 32.384893478843345,
      "cagr_pct": 216.92377611379413,
      "max_drawdown_pct": 12.251435120644416,
      "mean_exposure_while_solvent": 1.0788992023753736,
      "realized_annual_volatility_pct": 40.84915721723267,
      "trading_costs_quote_units": 86.68025389222593,
      "borrowing_costs_quote_units": 30.72364506046768,
      "price_pnl_quote_units": 3355.8932468370276,
      "turnover_quote_units": 28893.417964075295,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13658.094159064523,
      "return_pct": 36.580941590645246,
      "cagr_pct": 260.30833950539215,
      "max_drawdown_pct": 18.019370702274205,
      "mean_exposure_while_solvent": 1.4370653990983722,
      "realized_annual_volatility_pct": 53.367924917248345,
      "trading_costs_quote_units": 89.45115993973336,
      "borrowing_costs_quote_units": 116.36674440745143,
      "price_pnl_quote_units": 3863.9120634116994,
      "turnover_quote_units": 29817.053313244454,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13756.152510457003,
      "return_pct": 37.56152510457002,
      "cagr_pct": 271.0638623845344,
      "max_drawdown_pct": 19.653574342815162,
      "mean_exposure_while_solvent": 1.4965689766518764,
      "realized_annual_volatility_pct": 55.917780134594906,
      "trading_costs_quote_units": 73.28728313740928,
      "borrowing_costs_quote_units": 131.13111857204183,
      "price_pnl_quote_units": 3960.5709121664545,
      "turnover_quote_units": 24429.09437913643,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13679.988961620607,
      "return_pct": 36.79988961620608,
      "cagr_pct": 262.68913747951433,
      "max_drawdown_pct": 17.319308341985206,
      "mean_exposure_while_solvent": 1.393580298789698,
      "realized_annual_volatility_pct": 52.28641580024416,
      "trading_costs_quote_units": 105.7475422501501,
      "borrowing_costs_quote_units": 102.8038734806525,
      "price_pnl_quote_units": 3888.5403773514145,
      "turnover_quote_units": 35249.18075005003,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13731.759890868852,
      "return_pct": 37.31759890868853,
      "cagr_pct": 268.3659608177329,
      "max_drawdown_pct": 19.576029938966354,
      "mean_exposure_while_solvent": 1.472501143999757,
      "realized_annual_volatility_pct": 55.275068126885515,
      "trading_costs_quote_units": 75.46543256288804,
      "borrowing_costs_quote_units": 125.01559467354677,
      "price_pnl_quote_units": 3932.2409181052717,
      "turnover_quote_units": 25155.144187629332,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 12588.690110618683,
      "return_pct": 25.886901106186833,
      "cagr_pct": 157.68149201674552,
      "max_drawdown_pct": 13.35945200745673,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.37357333807555,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2618.6003798111064,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 11912.574604601212,
      "return_pct": 19.125746046012114,
      "cagr_pct": 105.35591442313574,
      "max_drawdown_pct": 10.178184193845563,
      "mean_exposure_while_solvent": 0.7487942385174409,
      "realized_annual_volatility_pct": 28.06867145375823,
      "trading_costs_quote_units": 29.29641708884622,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1941.871021690056,
      "turnover_quote_units": 9765.47236294875,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 12588.690110618683,
      "return_pct": 25.886901106186833,
      "cagr_pct": 157.68149201674552,
      "max_drawdown_pct": 13.35945200745673,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.37357333807555,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2618.6003798111064,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13174.79201388063,
      "return_pct": 31.747920138806297,
      "cagr_pct": 210.7007775750947,
      "max_drawdown_pct": 16.554011314809657,
      "mean_exposure_while_solvent": 1.2473879126828133,
      "realized_annual_volatility_pct": 46.65570988980654,
      "trading_costs_quote_units": 49.08615670700636,
      "borrowing_costs_quote_units": 64.94668160716043,
      "price_pnl_quote_units": 3288.824852194788,
      "turnover_quote_units": 16362.052235668794,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13756.152510457003,
      "return_pct": 37.56152510457002,
      "cagr_pct": 271.0638623845344,
      "max_drawdown_pct": 19.653574342815162,
      "mean_exposure_while_solvent": 1.4965689766518764,
      "realized_annual_volatility_pct": 55.917780134594906,
      "trading_costs_quote_units": 73.28728313740928,
      "borrowing_costs_quote_units": 131.13111857204183,
      "price_pnl_quote_units": 3960.5709121664545,
      "turnover_quote_units": 24429.09437913643,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13199.87391745988,
      "return_pct": 31.99873917459879,
      "cagr_pct": 213.14004547686048,
      "max_drawdown_pct": 12.251435120644416,
      "mean_exposure_while_solvent": 1.078917643401535,
      "realized_annual_volatility_pct": 40.84779242644535,
      "trading_costs_quote_units": 86.58767755324628,
      "borrowing_costs_quote_units": 61.364232846856396,
      "price_pnl_quote_units": 3347.8258278599733,
      "turnover_quote_units": 28862.559184415408,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13513.363179552125,
      "return_pct": 35.13363179552125,
      "cagr_pct": 244.86666401304308,
      "max_drawdown_pct": 18.13484314895947,
      "mean_exposure_while_solvent": 1.4371381743812586,
      "realized_annual_volatility_pct": 53.37103002572575,
      "trading_costs_quote_units": 89.22529988416053,
      "borrowing_costs_quote_units": 231.46755637506024,
      "price_pnl_quote_units": 3834.056035811354,
      "turnover_quote_units": 29741.766628053505,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13590.70697958396,
      "return_pct": 35.9070697958396,
      "cagr_pct": 253.05495296833774,
      "max_drawdown_pct": 19.820820154602504,
      "mean_exposure_while_solvent": 1.496654005151562,
      "realized_annual_volatility_pct": 55.92187317029052,
      "trading_costs_quote_units": 73.05398929144543,
      "borrowing_costs_quote_units": 260.63898839543566,
      "price_pnl_quote_units": 3924.399957270827,
      "turnover_quote_units": 24351.32976381514,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13549.388029169833,
      "return_pct": 35.49388029169833,
      "cagr_pct": 248.66247984944386,
      "max_drawdown_pct": 17.41577454135681,
      "mean_exposure_while_solvent": 1.3936449096319432,
      "realized_annual_volatility_pct": 52.28867595876176,
      "trading_costs_quote_units": 105.39712525211544,
      "borrowing_costs_quote_units": 204.60620062353098,
      "price_pnl_quote_units": 3859.391355045486,
      "turnover_quote_units": 35132.3750840385,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13574.54852086393,
      "return_pct": 35.745485208639295,
      "cagr_pct": 251.33224744571646,
      "max_drawdown_pct": 19.739581317462907,
      "mean_exposure_while_solvent": 1.4725808496329937,
      "realized_annual_volatility_pct": 55.27878934793029,
      "trading_costs_quote_units": 75.2488186191049,
      "borrowing_costs_quote_units": 248.55781876174873,
      "price_pnl_quote_units": 3898.355158244778,
      "turnover_quote_units": 25082.93953970163,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12588.690110618683,
      "return_pct": 25.886901106186833,
      "cagr_pct": 157.68149201674552,
      "max_drawdown_pct": 13.35945200745673,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.37357333807555,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2618.6003798111064,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 11912.574604601212,
      "return_pct": 19.125746046012114,
      "cagr_pct": 105.35591442313574,
      "max_drawdown_pct": 10.178184193845563,
      "mean_exposure_while_solvent": 0.7487942385174409,
      "realized_annual_volatility_pct": 28.06867145375823,
      "trading_costs_quote_units": 29.29641708884622,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1941.871021690056,
      "turnover_quote_units": 9765.47236294875,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12588.690110618683,
      "return_pct": 25.886901106186833,
      "cagr_pct": 157.68149201674552,
      "max_drawdown_pct": 13.35945200745673,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.37357333807555,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2618.6003798111064,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13095.295738928498,
      "return_pct": 30.952957389284986,
      "cagr_pct": 203.06451657208754,
      "max_drawdown_pct": 16.64068529884367,
      "mean_exposure_while_solvent": 1.2474233572374416,
      "realized_annual_volatility_pct": 46.65741358875557,
      "trading_costs_quote_units": 49.02906778062511,
      "borrowing_costs_quote_units": 129.50102121703952,
      "price_pnl_quote_units": 3273.8258279261668,
      "turnover_quote_units": 16343.022593541702,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13590.70697958396,
      "return_pct": 35.9070697958396,
      "cagr_pct": 253.05495296833774,
      "max_drawdown_pct": 19.820820154602504,
      "mean_exposure_while_solvent": 1.496654005151562,
      "realized_annual_volatility_pct": 55.92187317029052,
      "trading_costs_quote_units": 73.05398929144543,
      "borrowing_costs_quote_units": 260.63898839543566,
      "price_pnl_quote_units": 3924.399957270827,
      "turnover_quote_units": 24351.32976381514,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13402.517668343598,
      "return_pct": 34.02517668343599,
      "cagr_pct": 233.38316014841655,
      "max_drawdown_pct": 12.226093629280122,
      "mean_exposure_while_solvent": 1.0751479208742003,
      "realized_annual_volatility_pct": 41.147227739656735,
      "trading_costs_quote_units": 86.9433594602563,
      "borrowing_costs_quote_units": 15.464038998669682,
      "price_pnl_quote_units": 3504.925066802521,
      "turnover_quote_units": 28981.11982008543,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13739.460377838637,
      "return_pct": 37.39460377838637,
      "cagr_pct": 269.21605029502433,
      "max_drawdown_pct": 17.96522465246936,
      "mean_exposure_while_solvent": 1.4313219313309462,
      "realized_annual_volatility_pct": 53.31822536963331,
      "trading_costs_quote_units": 85.83377294589168,
      "borrowing_costs_quote_units": 58.10852681269127,
      "price_pnl_quote_units": 3883.40267759723,
      "turnover_quote_units": 28611.257648630555,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13812.959913191644,
      "return_pct": 38.12959913191645,
      "cagr_pct": 277.40489983961214,
      "max_drawdown_pct": 19.631377737729384,
      "mean_exposure_while_solvent": 1.4906959221995129,
      "realized_annual_volatility_pct": 55.79943591303922,
      "trading_costs_quote_units": 73.0618051450947,
      "borrowing_costs_quote_units": 65.38899115841103,
      "price_pnl_quote_units": 3951.41070949515,
      "turnover_quote_units": 24353.9350483649,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13661.01169399397,
      "return_pct": 36.610116939939715,
      "cagr_pct": 260.6249015728552,
      "max_drawdown_pct": 17.34142891669911,
      "mean_exposure_while_solvent": 1.387955455981719,
      "realized_annual_volatility_pct": 52.291760944086164,
      "trading_costs_quote_units": 107.90482679082258,
      "borrowing_costs_quote_units": 51.10577757581136,
      "price_pnl_quote_units": 3820.022298360618,
      "turnover_quote_units": 35968.27559694084,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13794.265496722262,
      "return_pct": 37.94265496722262,
      "cagr_pct": 275.30918395805253,
      "max_drawdown_pct": 19.575126891355055,
      "mean_exposure_while_solvent": 1.4666350593452457,
      "realized_annual_volatility_pct": 55.19849247196509,
      "trading_costs_quote_units": 74.29070697006921,
      "borrowing_costs_quote_units": 62.34319582237729,
      "price_pnl_quote_units": 3930.8993995146966,
      "turnover_quote_units": 24763.568990023072,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 12580.534036768713,
      "return_pct": 25.805340367687137,
      "cagr_pct": 156.9957507096957,
      "max_drawdown_pct": 13.359452007456706,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.332643967198074,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2610.444305961137,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 11909.819943654262,
      "return_pct": 19.09819943654263,
      "cagr_pct": 105.1607378211858,
      "max_drawdown_pct": 10.166908274921072,
      "mean_exposure_while_solvent": 0.7460407372557569,
      "realized_annual_volatility_pct": 28.05017790561104,
      "trading_costs_quote_units": 29.299271088526737,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1939.1192147427882,
      "turnover_quote_units": 9766.423696175574,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 12580.534036768713,
      "return_pct": 25.805340367687137,
      "cagr_pct": 156.9957507096957,
      "max_drawdown_pct": 13.359452007456706,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.332643967198074,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2610.444305961137,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13198.609108040167,
      "return_pct": 31.986091080401668,
      "cagr_pct": 213.0166942593405,
      "max_drawdown_pct": 16.537166147786753,
      "mean_exposure_while_solvent": 1.242598654668841,
      "realized_annual_volatility_pct": 46.57996011204887,
      "trading_costs_quote_units": 49.024181102407006,
      "borrowing_costs_quote_units": 32.35783027883571,
      "price_pnl_quote_units": 3279.9911194214,
      "turnover_quote_units": 16341.393700802326,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13812.959913191644,
      "return_pct": 38.12959913191645,
      "cagr_pct": 277.40489983961214,
      "max_drawdown_pct": 19.631377737729384,
      "mean_exposure_while_solvent": 1.4906959221995129,
      "realized_annual_volatility_pct": 55.79943591303922,
      "trading_costs_quote_units": 73.0618051450947,
      "borrowing_costs_quote_units": 65.38899115841103,
      "price_pnl_quote_units": 3951.41070949515,
      "turnover_quote_units": 24353.9350483649,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13382.992248812792,
      "return_pct": 33.82992248812793,
      "cagr_pct": 231.39071011637373,
      "max_drawdown_pct": 12.226093629280122,
      "mean_exposure_while_solvent": 1.0751571440448342,
      "realized_annual_volatility_pct": 41.146043539305246,
      "trading_costs_quote_units": 86.89693339809182,
      "borrowing_costs_quote_units": 30.90712710274983,
      "price_pnl_quote_units": 3500.796309313634,
      "turnover_quote_units": 28965.64446603061,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13666.801440754178,
      "return_pct": 36.66801440754177,
      "cagr_pct": 261.2537312631459,
      "max_drawdown_pct": 18.023855627887475,
      "mean_exposure_while_solvent": 1.431358042637637,
      "realized_annual_volatility_pct": 53.319396534461006,
      "trading_costs_quote_units": 85.72677845207438,
      "borrowing_costs_quote_units": 115.9013776487779,
      "price_pnl_quote_units": 3868.4295968550314,
      "turnover_quote_units": 28575.592817358123,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13729.97647313934,
      "return_pct": 37.2997647313934,
      "cagr_pct": 268.1692931889585,
      "max_drawdown_pct": 19.71497970432603,
      "mean_exposure_while_solvent": 1.4907381366573604,
      "realized_annual_volatility_pct": 55.8011244369692,
      "trading_costs_quote_units": 72.94621678677441,
      "borrowing_costs_quote_units": 130.3735324795952,
      "price_pnl_quote_units": 3933.296222405727,
      "turnover_quote_units": 24315.405595591466,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13595.902020438522,
      "return_pct": 35.95902020438522,
      "cagr_pct": 253.61016870204875,
      "max_drawdown_pct": 17.388794342110693,
      "mean_exposure_while_solvent": 1.3879875050842216,
      "realized_annual_volatility_pct": 52.292688435158716,
      "trading_costs_quote_units": 107.76625927530797,
      "borrowing_costs_quote_units": 101.9631000183212,
      "price_pnl_quote_units": 3805.6313797321454,
      "turnover_quote_units": 35922.086425102665,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13715.463562063027,
      "return_pct": 37.15463562063026,
      "cagr_pct": 266.57182469037065,
      "max_drawdown_pct": 19.656946791392006,
      "mean_exposure_while_solvent": 1.4666746103571828,
      "realized_annual_volatility_pct": 55.19999369064745,
      "trading_costs_quote_units": 74.14354410621013,
      "borrowing_costs_quote_units": 124.31966767552255,
      "price_pnl_quote_units": 3913.9267738447634,
      "turnover_quote_units": 24714.514702070017,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 12580.534036768713,
      "return_pct": 25.805340367687137,
      "cagr_pct": 156.9957507096957,
      "max_drawdown_pct": 13.359452007456706,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.332643967198074,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2610.444305961137,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 11909.819943654262,
      "return_pct": 19.09819943654263,
      "cagr_pct": 105.1607378211858,
      "max_drawdown_pct": 10.166908274921072,
      "mean_exposure_while_solvent": 0.7460407372557569,
      "realized_annual_volatility_pct": 28.05017790561104,
      "trading_costs_quote_units": 29.299271088526737,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1939.1192147427882,
      "turnover_quote_units": 9766.423696175574,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 12580.534036768713,
      "return_pct": 25.805340367687137,
      "cagr_pct": 156.9957507096957,
      "max_drawdown_pct": 13.359452007456706,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.332643967198074,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2610.444305961137,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13158.886614498024,
      "return_pct": 31.588866144980244,
      "cagr_pct": 209.1614125329992,
      "max_drawdown_pct": 16.58048357866798,
      "mean_exposure_while_solvent": 1.2426162535443184,
      "realized_annual_volatility_pct": 46.58066328327755,
      "trading_costs_quote_units": 48.99490270359814,
      "borrowing_costs_quote_units": 64.61814079567878,
      "price_pnl_quote_units": 3272.499657997305,
      "turnover_quote_units": 16331.63423453272,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13729.97647313934,
      "return_pct": 37.2997647313934,
      "cagr_pct": 268.1692931889585,
      "max_drawdown_pct": 19.71497970432603,
      "mean_exposure_while_solvent": 1.4907381366573604,
      "realized_annual_volatility_pct": 55.8011244369692,
      "trading_costs_quote_units": 72.94621678677441,
      "borrowing_costs_quote_units": 130.3735324795952,
      "price_pnl_quote_units": 3933.296222405727,
      "turnover_quote_units": 24315.405595591466,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13344.017308833336,
      "return_pct": 33.44017308833336,
      "cagr_pct": 227.44051425722773,
      "max_drawdown_pct": 12.226093629280122,
      "mean_exposure_while_solvent": 1.0751755937309182,
      "realized_annual_volatility_pct": 41.143696820013815,
      "trading_costs_quote_units": 86.80420747712951,
      "borrowing_costs_quote_units": 61.73054849656152,
      "price_pnl_quote_units": 3492.552064807028,
      "turnover_quote_units": 28934.73582570985,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13522.596488694024,
      "return_pct": 35.22596488694023,
      "cagr_pct": 245.83655084143987,
      "max_drawdown_pct": 18.14102094150276,
      "mean_exposure_while_solvent": 1.431430280142107,
      "realized_annual_volatility_pct": 53.32174553635185,
      "trading_costs_quote_units": 85.514265055426,
      "borrowing_costs_quote_units": 230.5465601754403,
      "price_pnl_quote_units": 3838.657313924881,
      "turnover_quote_units": 28504.755018475338,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13565.457697449256,
      "return_pct": 35.65457697449255,
      "cagr_pct": 250.3658459728703,
      "max_drawdown_pct": 19.88196872009049,
      "mean_exposure_while_solvent": 1.4908225837946003,
      "realized_annual_volatility_pct": 55.80450385009647,
      "trading_costs_quote_units": 72.71676594994446,
      "borrowing_costs_quote_units": 259.13880063619456,
      "price_pnl_quote_units": 3897.313264035382,
      "turnover_quote_units": 24238.921983314816,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13466.578813215783,
      "return_pct": 34.665788132157836,
      "cagr_pct": 239.9839316462103,
      "max_drawdown_pct": 17.483466024692273,
      "mean_exposure_while_solvent": 1.3880516162171925,
      "realized_annual_volatility_pct": 52.29455485858999,
      "trading_costs_quote_units": 107.4905038560728,
      "borrowing_costs_quote_units": 202.93695553242728,
      "price_pnl_quote_units": 3777.006272604276,
      "turnover_quote_units": 35830.167952024276,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13559.166073342389,
      "return_pct": 35.59166073342388,
      "cagr_pct": 249.69819274046284,
      "max_drawdown_pct": 19.820381567437973,
      "mean_exposure_while_solvent": 1.4667537290092258,
      "realized_annual_volatility_pct": 55.20299871591422,
      "trading_costs_quote_units": 73.85125776229654,
      "borrowing_costs_quote_units": 247.180648687928,
      "price_pnl_quote_units": 3880.1979797926147,
      "turnover_quote_units": 24617.085920765527,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12580.534036768713,
      "return_pct": 25.805340367687137,
      "cagr_pct": 156.9957507096957,
      "max_drawdown_pct": 13.359452007456706,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.332643967198074,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2610.444305961137,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 11909.819943654262,
      "return_pct": 19.09819943654263,
      "cagr_pct": 105.1607378211858,
      "max_drawdown_pct": 10.166908274921072,
      "mean_exposure_while_solvent": 0.7460407372557569,
      "realized_annual_volatility_pct": 28.05017790561104,
      "trading_costs_quote_units": 29.299271088526737,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1939.1192147427882,
      "turnover_quote_units": 9766.423696175574,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12580.534036768713,
      "return_pct": 25.805340367687137,
      "cagr_pct": 156.9957507096957,
      "max_drawdown_pct": 13.359452007456706,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.332643967198074,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2610.444305961137,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13079.782469808515,
      "return_pct": 30.79782469808514,
      "cagr_pct": 201.5910616307745,
      "max_drawdown_pct": 16.66707029922585,
      "mean_exposure_while_solvent": 1.2426514566928346,
      "realized_annual_volatility_pct": 46.582070366970804,
      "trading_costs_quote_units": 48.93658381392244,
      "borrowing_costs_quote_units": 128.8473010748101,
      "price_pnl_quote_units": 3257.5663546972523,
      "turnover_quote_units": 16312.194604640823,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13565.457697449256,
      "return_pct": 35.65457697449255,
      "cagr_pct": 250.3658459728703,
      "max_drawdown_pct": 19.88196872009049,
      "mean_exposure_while_solvent": 1.4908225837946003,
      "realized_annual_volatility_pct": 55.80450385009647,
      "trading_costs_quote_units": 72.71676594994446,
      "borrowing_costs_quote_units": 259.13880063619456,
      "price_pnl_quote_units": 3897.313264035382,
      "turnover_quote_units": 24238.921983314816,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13341.085438864433,
      "return_pct": 33.41085438864433,
      "cagr_pct": 227.14481085001285,
      "max_drawdown_pct": 12.149154470958567,
      "mean_exposure_while_solvent": 1.0846050350173773,
      "realized_annual_volatility_pct": 40.789297935962374,
      "trading_costs_quote_units": 17.40010894429622,
      "borrowing_costs_quote_units": 16.01851108807906,
      "price_pnl_quote_units": 3374.5040588968004,
      "turnover_quote_units": 29000.18157382704,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13810.801841463,
      "return_pct": 38.10801841463001,
      "cagr_pct": 277.1625206341032,
      "max_drawdown_pct": 17.80336088420934,
      "mean_exposure_while_solvent": 1.4391211023783868,
      "realized_annual_volatility_pct": 53.151759804667854,
      "trading_costs_quote_units": 17.976715704209422,
      "borrowing_costs_quote_units": 58.90956866447083,
      "price_pnl_quote_units": 3887.6881258316794,
      "turnover_quote_units": 29961.192840349053,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13898.094940197285,
      "return_pct": 38.98094940197285,
      "cagr_pct": 287.06109254173873,
      "max_drawdown_pct": 19.377968820183476,
      "mean_exposure_while_solvent": 1.4965558651398045,
      "realized_annual_volatility_pct": 55.6159804075745,
      "trading_costs_quote_units": 14.70865886617055,
      "borrowing_costs_quote_units": 66.03014098879018,
      "price_pnl_quote_units": 3978.833740052251,
      "turnover_quote_units": 24514.43144361759,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13840.03422757636,
      "return_pct": 38.40034227576359,
      "cagr_pct": 280.4557206901198,
      "max_drawdown_pct": 16.984983775729223,
      "mean_exposure_while_solvent": 1.3948344695840318,
      "realized_annual_volatility_pct": 52.03612907429692,
      "trading_costs_quote_units": 21.053436867360542,
      "borrowing_costs_quote_units": 52.00576749418379,
      "price_pnl_quote_units": 3913.0934319378953,
      "turnover_quote_units": 35089.06144560089,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13873.808740586719,
      "return_pct": 38.73808740586719,
      "cagr_pct": 284.287662612149,
      "max_drawdown_pct": 19.31009805035705,
      "mean_exposure_while_solvent": 1.475092502170061,
      "realized_annual_volatility_pct": 55.05677450425751,
      "trading_costs_quote_units": 15.093543727278442,
      "borrowing_costs_quote_units": 63.277898743604744,
      "price_pnl_quote_units": 3952.180183057581,
      "turnover_quote_units": 25155.906212130718,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 12606.081031280062,
      "return_pct": 26.06081031280063,
      "cagr_pct": 159.14829864526067,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.17111286396115,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2612.0774334387684,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 11930.717191119407,
      "return_pct": 19.307171911194065,
      "cagr_pct": 106.64488790798794,
      "max_drawdown_pct": 10.079448898300047,
      "mean_exposure_while_solvent": 0.748786577680084,
      "realized_annual_volatility_pct": 27.916905732017668,
      "trading_costs_quote_units": 5.861049132630323,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1936.5782402520376,
      "turnover_quote_units": 9768.415221050538,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 12606.081031280062,
      "return_pct": 26.06081031280063,
      "cagr_pct": 159.14829864526067,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.17111286396115,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2612.0774334387684,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13249.41699889933,
      "return_pct": 32.494169988993306,
      "cagr_pct": 218.00077481427599,
      "max_drawdown_pct": 16.356377317191594,
      "mean_exposure_while_solvent": 1.2473826111595847,
      "realized_annual_volatility_pct": 46.403509444882374,
      "trading_costs_quote_units": 9.84056116021062,
      "borrowing_costs_quote_units": 32.61572961698422,
      "price_pnl_quote_units": 3291.873289676532,
      "turnover_quote_units": 16400.935267017696,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13898.094940197285,
      "return_pct": 38.98094940197285,
      "cagr_pct": 287.06109254173873,
      "max_drawdown_pct": 19.377968820183476,
      "mean_exposure_while_solvent": 1.4965558651398045,
      "realized_annual_volatility_pct": 55.6159804075745,
      "trading_costs_quote_units": 14.70865886617055,
      "borrowing_costs_quote_units": 66.03014098879018,
      "price_pnl_quote_units": 3978.833740052251,
      "turnover_quote_units": 24514.43144361759,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13320.90230361234,
      "return_pct": 33.20902303612341,
      "cagr_pct": 225.1146547009976,
      "max_drawdown_pct": 12.149154470958567,
      "mean_exposure_while_solvent": 1.0846146249084627,
      "realized_annual_volatility_pct": 40.788628676537876,
      "trading_costs_quote_units": 17.390535209031434,
      "borrowing_costs_quote_units": 32.014455267689755,
      "price_pnl_quote_units": 3370.307294089047,
      "turnover_quote_units": 28984.225348385728,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13737.091890769232,
      "return_pct": 37.37091890769233,
      "cagr_pct": 268.9544250183313,
      "max_drawdown_pct": 17.861988094075244,
      "mean_exposure_while_solvent": 1.4391576963906516,
      "realized_annual_volatility_pct": 53.153319020917536,
      "trading_costs_quote_units": 17.95388618381565,
      "borrowing_costs_quote_units": 117.4962509829469,
      "price_pnl_quote_units": 3872.542027935998,
      "turnover_quote_units": 29923.143639692757,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13814.268388182913,
      "return_pct": 38.14268388182913,
      "cagr_pct": 277.55191579850623,
      "max_drawdown_pct": 19.46177962632626,
      "mean_exposure_while_solvent": 1.4965983753247192,
      "realized_annual_volatility_pct": 55.61801483633301,
      "trading_costs_quote_units": 14.68619609263244,
      "borrowing_costs_quote_units": 131.65028089975857,
      "price_pnl_quote_units": 3960.6048651752917,
      "turnover_quote_units": 24476.993487720723,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13773.598709046822,
      "return_pct": 37.735987090468214,
      "cagr_pct": 273.00262040720384,
      "max_drawdown_pct": 17.033602707302,
      "mean_exposure_while_solvent": 1.3948668845116416,
      "realized_annual_volatility_pct": 52.03724808587159,
      "trading_costs_quote_units": 21.018384285276287,
      "borrowing_costs_quote_units": 103.75662810961126,
      "price_pnl_quote_units": 3898.373721441708,
      "turnover_quote_units": 35030.640475460496,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13793.733791957915,
      "return_pct": 37.937337919579136,
      "cagr_pct": 275.24970691286984,
      "max_drawdown_pct": 19.392329359683234,
      "mean_exposure_while_solvent": 1.4751326322838778,
      "realized_annual_volatility_pct": 55.05865769265653,
      "trading_costs_quote_units": 15.071608941827803,
      "borrowing_costs_quote_units": 126.17976525642977,
      "price_pnl_quote_units": 3934.985166156168,
      "turnover_quote_units": 25119.34823637967,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 12606.081031280062,
      "return_pct": 26.06081031280063,
      "cagr_pct": 159.14829864526067,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.17111286396115,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2612.0774334387684,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 11930.717191119407,
      "return_pct": 19.307171911194065,
      "cagr_pct": 106.64488790798794,
      "max_drawdown_pct": 10.079448898300047,
      "mean_exposure_while_solvent": 0.748786577680084,
      "realized_annual_volatility_pct": 27.916905732017668,
      "trading_costs_quote_units": 5.861049132630323,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1936.5782402520376,
      "turnover_quote_units": 9768.415221050538,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 12606.081031280062,
      "return_pct": 26.06081031280063,
      "cagr_pct": 159.14829864526067,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.17111286396115,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2612.0774334387684,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13209.383152675096,
      "return_pct": 32.09383152675096,
      "cagr_pct": 214.06861712921105,
      "max_drawdown_pct": 16.39976776596781,
      "mean_exposure_while_solvent": 1.2474003323530067,
      "realized_annual_volatility_pct": 46.404358722994424,
      "trading_costs_quote_units": 9.835280894764882,
      "borrowing_costs_quote_units": 65.13279426916024,
      "price_pnl_quote_units": 3284.3512278390094,
      "turnover_quote_units": 16392.134824608143,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13814.268388182913,
      "return_pct": 38.14268388182913,
      "cagr_pct": 277.55191579850623,
      "max_drawdown_pct": 19.46177962632626,
      "mean_exposure_while_solvent": 1.4965983753247192,
      "realized_annual_volatility_pct": 55.61801483633301,
      "trading_costs_quote_units": 14.68619609263244,
      "borrowing_costs_quote_units": 131.65028089975857,
      "price_pnl_quote_units": 3960.6048651752917,
      "turnover_quote_units": 24476.993487720723,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13280.617819682227,
      "return_pct": 32.80617819682228,
      "cagr_pct": 221.09108852389002,
      "max_drawdown_pct": 12.149154470958567,
      "mean_exposure_while_solvent": 1.0846338081921822,
      "realized_annual_volatility_pct": 40.78731354308591,
      "trading_costs_quote_units": 17.37141517673924,
      "borrowing_costs_quote_units": 63.93875324381914,
      "price_pnl_quote_units": 3361.927988102785,
      "turnover_quote_units": 28952.35862789874,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13590.81164511841,
      "return_pct": 35.9081164511841,
      "cagr_pct": 253.0661324952174,
      "max_drawdown_pct": 17.97914631814378,
      "mean_exposure_while_solvent": 1.4392308995577008,
      "realized_annual_volatility_pct": 53.15644347255761,
      "trading_costs_quote_units": 17.90847219636215,
      "borrowing_costs_quote_units": 233.70767772298012,
      "price_pnl_quote_units": 3842.4277950377477,
      "turnover_quote_units": 29847.453660603573,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13648.084016919698,
      "return_pct": 36.48084016919697,
      "cagr_pct": 259.223804731251,
      "max_drawdown_pct": 19.629185893016952,
      "mean_exposure_while_solvent": 1.4966834140716536,
      "realized_annual_volatility_pct": 55.622084997581986,
      "trading_costs_quote_units": 14.64157868803835,
      "borrowing_costs_quote_units": 261.67026154516714,
      "price_pnl_quote_units": 3924.395857152896,
      "turnover_quote_units": 24402.631146730568,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13641.64877978612,
      "return_pct": 36.416487797861194,
      "cagr_pct": 258.5278938319269,
      "max_drawdown_pct": 17.130777857807523,
      "mean_exposure_while_solvent": 1.3949317274689015,
      "realized_annual_volatility_pct": 52.03949691735814,
      "trading_costs_quote_units": 20.948654969368615,
      "borrowing_costs_quote_units": 206.49836123193003,
      "price_pnl_quote_units": 3869.0957959874163,
      "turnover_quote_units": 34914.42494894769,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13634.92535241277,
      "return_pct": 36.349253524127704,
      "cagr_pct": 257.8019081747397,
      "max_drawdown_pct": 19.55658548764092,
      "mean_exposure_while_solvent": 1.4752129094616844,
      "realized_annual_volatility_pct": 55.06242561914277,
      "trading_costs_quote_units": 15.028031600767267,
      "borrowing_costs_quote_units": 250.8639083897719,
      "price_pnl_quote_units": 3900.817292403323,
      "turnover_quote_units": 25046.719334612095,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12606.081031280062,
      "return_pct": 26.06081031280063,
      "cagr_pct": 159.14829864526067,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.17111286396115,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2612.0774334387684,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 11930.717191119407,
      "return_pct": 19.307171911194065,
      "cagr_pct": 106.64488790798794,
      "max_drawdown_pct": 10.079448898300047,
      "mean_exposure_while_solvent": 0.748786577680084,
      "realized_annual_volatility_pct": 27.916905732017668,
      "trading_costs_quote_units": 5.861049132630323,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1936.5782402520376,
      "turnover_quote_units": 9768.415221050538,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12606.081031280062,
      "return_pct": 26.06081031280063,
      "cagr_pct": 159.14829864526067,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.17111286396115,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2612.0774334387684,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13129.660382077736,
      "return_pct": 31.29660382077737,
      "cagr_pct": 206.3478777834542,
      "max_drawdown_pct": 16.48650045612332,
      "mean_exposure_while_solvent": 1.2474357801841298,
      "realized_annual_volatility_pct": 46.40605765831003,
      "trading_costs_quote_units": 9.824758440900851,
      "borrowing_costs_quote_units": 129.8720445483522,
      "price_pnl_quote_units": 3269.357185066976,
      "turnover_quote_units": 16374.597401501409,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13648.084016919698,
      "return_pct": 36.48084016919697,
      "cagr_pct": 259.223804731251,
      "max_drawdown_pct": 19.629185893016952,
      "mean_exposure_while_solvent": 1.4966834140716536,
      "realized_annual_volatility_pct": 55.622084997581986,
      "trading_costs_quote_units": 14.64157868803835,
      "borrowing_costs_quote_units": 261.67026154516714,
      "price_pnl_quote_units": 3924.395857152896,
      "turnover_quote_units": 24402.631146730568,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13483.061614450895,
      "return_pct": 34.83061614450895,
      "cagr_pct": 241.698178447482,
      "max_drawdown_pct": 12.122865377088466,
      "mean_exposure_while_solvent": 1.0808514444463706,
      "realized_annual_volatility_pct": 41.10266269223894,
      "trading_costs_quote_units": 17.437565862380122,
      "borrowing_costs_quote_units": 16.11330862805421,
      "price_pnl_quote_units": 3516.612488941328,
      "turnover_quote_units": 29062.609770633535,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13818.562674634986,
      "return_pct": 38.18562674634987,
      "cagr_pct": 278.034712287037,
      "max_drawdown_pct": 17.80926327562964,
      "mean_exposure_while_solvent": 1.4334008927039437,
      "realized_annual_volatility_pct": 53.10732240797355,
      "trading_costs_quote_units": 17.217465073709615,
      "borrowing_costs_quote_units": 58.67751916562805,
      "price_pnl_quote_units": 3894.4576588743107,
      "turnover_quote_units": 28695.775122849347,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13874.77487648123,
      "return_pct": 38.747748764812286,
      "cagr_pct": 284.39770506816495,
      "max_drawdown_pct": 19.432330300394163,
      "mean_exposure_while_solvent": 1.4907161294692914,
      "realized_annual_volatility_pct": 55.50685936988985,
      "trading_costs_quote_units": 14.648976780449887,
      "borrowing_costs_quote_units": 65.66806429604812,
      "price_pnl_quote_units": 3955.0919175577205,
      "turnover_quote_units": 24414.96130074983,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13759.849055223942,
      "return_pct": 37.598490552239426,
      "cagr_pct": 271.47401310627697,
      "max_drawdown_pct": 17.047683231456833,
      "mean_exposure_while_solvent": 1.389234239926353,
      "realized_annual_volatility_pct": 52.04041979411923,
      "trading_costs_quote_units": 21.46068616125995,
      "borrowing_costs_quote_units": 51.595113317456494,
      "price_pnl_quote_units": 3832.9048547026514,
      "turnover_quote_units": 35767.81026876658,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13858.558323131942,
      "return_pct": 38.58558323131942,
      "cagr_pct": 282.5538029208943,
      "max_drawdown_pct": 19.38891936554591,
      "mean_exposure_while_solvent": 1.4692566323102014,
      "realized_annual_volatility_pct": 54.983272036978384,
      "trading_costs_quote_units": 14.844491101703422,
      "borrowing_costs_quote_units": 62.93861983642873,
      "price_pnl_quote_units": 3936.3414340700606,
      "turnover_quote_units": 24740.818502839018,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 12600.044121070347,
      "return_pct": 26.000441210703464,
      "cagr_pct": 158.63841197121982,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.13219182036708,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2606.040523229048,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 11929.615130258571,
      "return_pct": 19.296151302585706,
      "cagr_pct": 106.56641575915158,
      "max_drawdown_pct": 10.065600129077346,
      "mean_exposure_while_solvent": 0.7460353528376671,
      "realized_annual_volatility_pct": 27.901170136444094,
      "trading_costs_quote_units": 5.86428338708084,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1935.479413645652,
      "turnover_quote_units": 9773.805645134735,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 12600.044121070347,
      "return_pct": 26.000441210703464,
      "cagr_pct": 158.63841197121982,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.13219182036708,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2606.040523229048,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13236.04188772535,
      "return_pct": 32.360418877253515,
      "cagr_pct": 216.68294013337945,
      "max_drawdown_pct": 16.3797958690309,
      "mean_exposure_while_solvent": 1.242607255880039,
      "realized_annual_volatility_pct": 46.33294645853056,
      "trading_costs_quote_units": 9.826123250988713,
      "borrowing_costs_quote_units": 32.45792388342298,
      "price_pnl_quote_units": 3278.3259348597653,
      "turnover_quote_units": 16376.872084981198,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13874.77487648123,
      "return_pct": 38.747748764812286,
      "cagr_pct": 284.39770506816495,
      "max_drawdown_pct": 19.432330300394163,
      "mean_exposure_while_solvent": 1.4907161294692914,
      "realized_annual_volatility_pct": 55.50685936988985,
      "trading_costs_quote_units": 14.648976780449887,
      "borrowing_costs_quote_units": 65.66806429604812,
      "price_pnl_quote_units": 3955.0919175577205,
      "turnover_quote_units": 24414.96130074983,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13462.696511684473,
      "return_pct": 34.62696511684473,
      "cagr_pct": 239.58111273969237,
      "max_drawdown_pct": 12.122865377088466,
      "mean_exposure_while_solvent": 1.080861037924788,
      "realized_annual_volatility_pct": 41.101532143833566,
      "trading_costs_quote_units": 17.42797628085037,
      "borrowing_costs_quote_units": 32.203879172838356,
      "price_pnl_quote_units": 3512.3283671381723,
      "turnover_quote_units": 29046.62713475063,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13745.128560468973,
      "return_pct": 37.45128560468973,
      "cagr_pct": 269.8427330437494,
      "max_drawdown_pct": 17.868718563094575,
      "mean_exposure_while_solvent": 1.4334372144310707,
      "realized_annual_volatility_pct": 53.10848797158854,
      "trading_costs_quote_units": 17.195987917996085,
      "borrowing_costs_quote_units": 117.03471062444756,
      "price_pnl_quote_units": 3879.359259011399,
      "turnover_quote_units": 28659.979863326822,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13791.401782162517,
      "return_pct": 37.91401782162516,
      "cagr_pct": 274.98893012986616,
      "max_drawdown_pct": 19.516057969653044,
      "mean_exposure_while_solvent": 1.490758345960773,
      "realized_annual_volatility_pct": 55.50850572749824,
      "trading_costs_quote_units": 14.625610180417208,
      "borrowing_costs_quote_units": 130.9298572713415,
      "price_pnl_quote_units": 3936.9572496142528,
      "turnover_quote_units": 24376.016967361993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13694.08261752954,
      "return_pct": 36.94082617529541,
      "cagr_pct": 264.2279396595403,
      "max_drawdown_pct": 17.095440543834826,
      "mean_exposure_while_solvent": 1.38926640283772,
      "realized_annual_volatility_pct": 52.04134946215658,
      "trading_costs_quote_units": 21.43305320332096,
      "borrowing_costs_quote_units": 102.93854828241325,
      "price_pnl_quote_units": 3818.454219015277,
      "turnover_quote_units": 35721.75533886825,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13778.895773281813,
      "return_pct": 37.78895773281812,
      "cagr_pct": 273.5927858960907,
      "max_drawdown_pct": 19.471149983676316,
      "mean_exposure_while_solvent": 1.4692964662595596,
      "realized_annual_volatility_pct": 54.984765610168864,
      "trading_costs_quote_units": 14.814721872320513,
      "borrowing_costs_quote_units": 125.50466253406518,
      "price_pnl_quote_units": 3919.215157688206,
      "turnover_quote_units": 24691.20312053419,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 12600.044121070347,
      "return_pct": 26.000441210703464,
      "cagr_pct": 158.63841197121982,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.13219182036708,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2606.040523229048,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 11929.615130258571,
      "return_pct": 19.296151302585706,
      "cagr_pct": 106.56641575915158,
      "max_drawdown_pct": 10.065600129077346,
      "mean_exposure_while_solvent": 0.7460353528376671,
      "realized_annual_volatility_pct": 27.901170136444094,
      "trading_costs_quote_units": 5.86428338708084,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1935.479413645652,
      "turnover_quote_units": 9773.805645134735,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 12600.044121070347,
      "return_pct": 26.000441210703464,
      "cagr_pct": 158.63841197121982,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.13219182036708,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2606.040523229048,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13196.198549414154,
      "return_pct": 31.96198549414153,
      "cagr_pct": 212.78170506550694,
      "max_drawdown_pct": 16.423160938158897,
      "mean_exposure_while_solvent": 1.2426248554206984,
      "realized_annual_volatility_pct": 46.33363434201668,
      "trading_costs_quote_units": 9.820191034513682,
      "borrowing_costs_quote_units": 64.8180190073979,
      "price_pnl_quote_units": 3270.8367594560605,
      "turnover_quote_units": 16366.98505752282,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13791.401782162517,
      "return_pct": 37.91401782162516,
      "cagr_pct": 274.98893012986616,
      "max_drawdown_pct": 19.516057969653044,
      "mean_exposure_while_solvent": 1.490758345960773,
      "realized_annual_volatility_pct": 55.50850572749824,
      "trading_costs_quote_units": 14.625610180417208,
      "borrowing_costs_quote_units": 130.9298572713415,
      "price_pnl_quote_units": 3936.9572496142528,
      "turnover_quote_units": 24376.016967361993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13422.048691881797,
      "return_pct": 34.22048691881796,
      "cagr_pct": 235.38523855669328,
      "max_drawdown_pct": 12.122865377088466,
      "mean_exposure_while_solvent": 1.08088022838715,
      "realized_annual_volatility_pct": 41.09929373705076,
      "trading_costs_quote_units": 17.40882410950254,
      "borrowing_costs_quote_units": 64.31691724978292,
      "price_pnl_quote_units": 3503.7744332410953,
      "turnover_quote_units": 29014.706849170918,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13599.390752114667,
      "return_pct": 35.99390752114666,
      "cagr_pct": 253.98339473756738,
      "max_drawdown_pct": 17.987529707053763,
      "mean_exposure_while_solvent": 1.4335098728891342,
      "realized_annual_volatility_pct": 53.1108256058883,
      "trading_costs_quote_units": 17.153331856922414,
      "borrowing_costs_quote_units": 232.79474854941424,
      "price_pnl_quote_units": 3849.338832521001,
      "turnover_quote_units": 28588.886428204027,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13626.110825436423,
      "return_pct": 36.26110825436422,
      "cagr_pct": 256.85181469467705,
      "max_drawdown_pct": 19.68329830144,
      "mean_exposure_while_solvent": 1.4908427971660325,
      "realized_annual_volatility_pct": 55.51180068309575,
      "trading_costs_quote_units": 14.579226807179158,
      "borrowing_costs_quote_units": 260.24420812528,
      "price_pnl_quote_units": 3900.934260368878,
      "turnover_quote_units": 24298.71134529859,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13563.457571712195,
      "return_pct": 35.63457571712194,
      "cagr_pct": 250.15349255693567,
      "max_drawdown_pct": 17.190895137671003,
      "mean_exposure_while_solvent": 1.3893307416398761,
      "realized_annual_volatility_pct": 52.04322002380213,
      "trading_costs_quote_units": 21.378057932860077,
      "borrowing_costs_quote_units": 204.87503328702775,
      "price_pnl_quote_units": 3789.7106629320933,
      "turnover_quote_units": 35630.09655476681,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13620.899716159638,
      "return_pct": 36.20899716159638,
      "cagr_pct": 256.2910224141149,
      "max_drawdown_pct": 19.635404520719955,
      "mean_exposure_while_solvent": 1.4693761509497447,
      "realized_annual_volatility_pct": 54.98775517478428,
      "trading_costs_quote_units": 14.755600336116581,
      "borrowing_costs_quote_units": 249.52741031620766,
      "price_pnl_quote_units": 3885.1827268119773,
      "turnover_quote_units": 24592.66722686096,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12600.044121070347,
      "return_pct": 26.000441210703464,
      "cagr_pct": 158.63841197121982,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.13219182036708,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2606.040523229048,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 11929.615130258571,
      "return_pct": 19.296151302585706,
      "cagr_pct": 106.56641575915158,
      "max_drawdown_pct": 10.065600129077346,
      "mean_exposure_while_solvent": 0.7460353528376671,
      "realized_annual_volatility_pct": 27.901170136444094,
      "trading_costs_quote_units": 5.86428338708084,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1935.479413645652,
      "turnover_quote_units": 9773.805645134735,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12600.044121070347,
      "return_pct": 26.000441210703464,
      "cagr_pct": 158.63841197121982,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.13219182036708,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2606.040523229048,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13116.853825616017,
      "return_pct": 31.168538256160172,
      "cagr_pct": 205.1211479821476,
      "max_drawdown_pct": 16.509842931193997,
      "mean_exposure_while_solvent": 1.2426600598997466,
      "realized_annual_volatility_pct": 46.33501081611462,
      "trading_costs_quote_units": 9.808374894857474,
      "borrowing_costs_quote_units": 129.24582502223197,
      "price_pnl_quote_units": 3255.9080255331105,
      "turnover_quote_units": 16347.291491429125,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13626.110825436423,
      "return_pct": 36.26110825436422,
      "cagr_pct": 256.85181469467705,
      "max_drawdown_pct": 19.68329830144,
      "mean_exposure_while_solvent": 1.4908427971660325,
      "realized_annual_volatility_pct": 55.51180068309575,
      "trading_costs_quote_units": 14.579226807179158,
      "borrowing_costs_quote_units": 260.24420812528,
      "price_pnl_quote_units": 3900.934260368878,
      "turnover_quote_units": 24298.71134529859,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13253.154977177825,
      "return_pct": 32.53154977177826,
      "cagr_pct": 218.3698144992099,
      "max_drawdown_pct": 12.1849984385066,
      "mean_exposure_while_solvent": 1.0846050350173773,
      "realized_annual_volatility_pct": 40.79601457840319,
      "trading_costs_quote_units": 86.66561667391045,
      "borrowing_costs_quote_units": 15.936279792534213,
      "price_pnl_quote_units": 3355.75687364427,
      "turnover_quote_units": 28888.538891303495,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13715.496389222802,
      "return_pct": 37.15496389222803,
      "cagr_pct": 266.57543211929203,
      "max_drawdown_pct": 17.868641882566273,
      "mean_exposure_while_solvent": 1.4391211023783868,
      "realized_annual_volatility_pct": 53.16166996497685,
      "trading_costs_quote_units": 89.46380453160447,
      "borrowing_costs_quote_units": 58.57266966112877,
      "price_pnl_quote_units": 3863.53286341553,
      "turnover_quote_units": 29821.26817720147,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13820.327299524166,
      "return_pct": 38.20327299524167,
      "cagr_pct": 278.23324028235527,
      "max_drawdown_pct": 19.403395645000664,
      "mean_exposure_while_solvent": 1.4965558651398045,
      "realized_annual_volatility_pct": 55.62259120434352,
      "trading_costs_quote_units": 73.22910966619497,
      "borrowing_costs_quote_units": 65.72789597766773,
      "price_pnl_quote_units": 3959.2843051680543,
      "turnover_quote_units": 24409.703222064993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13731.31867247773,
      "return_pct": 37.3131867247773,
      "cagr_pct": 268.31729775339585,
      "max_drawdown_pct": 17.132585171393977,
      "mean_exposure_while_solvent": 1.3948344695840318,
      "realized_annual_volatility_pct": 52.03834879116332,
      "trading_costs_quote_units": 104.73229906080286,
      "borrowing_costs_quote_units": 51.70004652038608,
      "price_pnl_quote_units": 3887.751018058917,
      "turnover_quote_units": 34910.76635360096,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13793.858746327984,
      "return_pct": 37.93858746327983,
      "cagr_pct": 275.2636837967728,
      "max_drawdown_pct": 19.344493301358067,
      "mean_exposure_while_solvent": 1.475092502170061,
      "realized_annual_volatility_pct": 55.06327715403039,
      "trading_costs_quote_units": 75.14201388516003,
      "borrowing_costs_quote_units": 62.9799642469234,
      "price_pnl_quote_units": 3931.9807244600656,
      "turnover_quote_units": 25047.337961719997,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 12575.916929111496,
      "return_pct": 25.75916929111497,
      "cagr_pct": 156.60816911288995,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.17703271722885,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2605.8271983039176,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 11903.206103431976,
      "return_pct": 19.03206103431976,
      "cagr_pct": 104.69269910261198,
      "max_drawdown_pct": 10.086398980607248,
      "mean_exposure_while_solvent": 0.748786577680084,
      "realized_annual_volatility_pct": 27.9206858763841,
      "trading_costs_quote_units": 29.253569817571687,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1932.45967324955,
      "turnover_quote_units": 9751.189939190566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 12575.916929111496,
      "return_pct": 25.75916929111497,
      "cagr_pct": 156.60816911288995,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.17703271722885,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2605.8271983039176,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13198.665598052261,
      "return_pct": 31.986655980522617,
      "cagr_pct": 213.02220269345486,
      "max_drawdown_pct": 16.367322541077478,
      "mean_exposure_while_solvent": 1.2473826111595847,
      "realized_annual_volatility_pct": 46.40989759141041,
      "trading_costs_quote_units": 49.043538864731744,
      "borrowing_costs_quote_units": 32.50484592898536,
      "price_pnl_quote_units": 3280.2139828459776,
      "turnover_quote_units": 16347.84628824392,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 13820.327299524166,
      "return_pct": 38.20327299524167,
      "cagr_pct": 278.23324028235527,
      "max_drawdown_pct": 19.403395645000664,
      "mean_exposure_while_solvent": 1.4965558651398045,
      "realized_annual_volatility_pct": 55.62259120434352,
      "trading_costs_quote_units": 73.22910966619497,
      "borrowing_costs_quote_units": 65.72789597766773,
      "price_pnl_quote_units": 3959.2843051680543,
      "turnover_quote_units": 24409.703222064993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13233.120466262617,
      "return_pct": 32.33120466262618,
      "cagr_pct": 216.3956465806943,
      "max_drawdown_pct": 12.1849984385066,
      "mean_exposure_while_solvent": 1.0846146249084627,
      "realized_annual_volatility_pct": 40.79534101343904,
      "trading_costs_quote_units": 86.61820431023527,
      "borrowing_costs_quote_units": 31.850141488771513,
      "price_pnl_quote_units": 3351.588812061622,
      "turnover_quote_units": 28872.734770078423,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13642.308826873417,
      "return_pct": 36.42308826873417,
      "cagr_pct": 258.5992247745874,
      "max_drawdown_pct": 17.92728811929659,
      "mean_exposure_while_solvent": 1.4391576963906516,
      "realized_annual_volatility_pct": 53.163226158281454,
      "trading_costs_quote_units": 89.35134580987092,
      "borrowing_costs_quote_units": 116.8245171678491,
      "price_pnl_quote_units": 3848.4846898511405,
      "turnover_quote_units": 29783.781936623644,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13736.980390692992,
      "return_pct": 37.369803906929924,
      "cagr_pct": 268.94211207541645,
      "max_drawdown_pct": 19.487287832428724,
      "mean_exposure_while_solvent": 1.4965983753247192,
      "realized_annual_volatility_pct": 55.62462940657608,
      "trading_costs_quote_units": 73.11850158375489,
      "borrowing_costs_quote_units": 131.04784071868522,
      "price_pnl_quote_units": 3941.146732995422,
      "turnover_quote_units": 24372.833861251627,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13665.425078508646,
      "return_pct": 36.65425078508646,
      "cagr_pct": 261.10416817411334,
      "max_drawdown_pct": 17.181104859455253,
      "mean_exposure_while_solvent": 1.3948668845116416,
      "realized_annual_volatility_pct": 52.039470720915624,
      "trading_costs_quote_units": 104.55909735992827,
      "borrowing_costs_quote_units": 103.14691705645191,
      "price_pnl_quote_units": 3873.131092925022,
      "turnover_quote_units": 34853.032453309395,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13714.254505423298,
      "return_pct": 37.142545054232976,
      "cagr_pct": 266.4389782446927,
      "max_drawdown_pct": 19.426793967068335,
      "mean_exposure_while_solvent": 1.4751326322838778,
      "realized_annual_volatility_pct": 55.06515434592843,
      "trading_costs_quote_units": 75.03398370789785,
      "borrowing_costs_quote_units": 125.58581816963343,
      "price_pnl_quote_units": 3914.8743073008213,
      "turnover_quote_units": 25011.32790263262,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 12575.916929111496,
      "return_pct": 25.75916929111497,
      "cagr_pct": 156.60816911288995,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.17703271722885,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2605.8271983039176,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 11903.206103431976,
      "return_pct": 19.03206103431976,
      "cagr_pct": 104.69269910261198,
      "max_drawdown_pct": 10.086398980607248,
      "mean_exposure_while_solvent": 0.748786577680084,
      "realized_annual_volatility_pct": 27.9206858763841,
      "trading_costs_quote_units": 29.253569817571687,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1932.45967324955,
      "turnover_quote_units": 9751.189939190566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 12575.916929111496,
      "return_pct": 25.75916929111497,
      "cagr_pct": 156.60816911288995,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.17703271722885,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2605.8271983039176,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13158.790175206253,
      "return_pct": 31.587901752062542,
      "cagr_pct": 209.15209653332965,
      "max_drawdown_pct": 16.410753059733054,
      "mean_exposure_while_solvent": 1.2474003323530067,
      "realized_annual_volatility_pct": 46.4107460564774,
      "trading_costs_quote_units": 49.01761010374536,
      "borrowing_costs_quote_units": 64.91138566131788,
      "price_pnl_quote_units": 3272.719170971308,
      "turnover_quote_units": 16339.203367915134,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 13736.980390692992,
      "return_pct": 37.369803906929924,
      "cagr_pct": 268.94211207541645,
      "max_drawdown_pct": 19.487287832428724,
      "mean_exposure_while_solvent": 1.4965983753247192,
      "realized_annual_volatility_pct": 55.62462940657608,
      "trading_costs_quote_units": 73.11850158375489,
      "borrowing_costs_quote_units": 131.04784071868522,
      "price_pnl_quote_units": 3941.146732995422,
      "turnover_quote_units": 24372.833861251627,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13193.132561397639,
      "return_pct": 31.93132561397638,
      "cagr_pct": 212.48301537653433,
      "max_drawdown_pct": 12.1849984385066,
      "mean_exposure_while_solvent": 1.0846338081921822,
      "realized_annual_volatility_pct": 40.79401722161207,
      "trading_costs_quote_units": 86.52351509725288,
      "borrowing_costs_quote_units": 63.61072005025064,
      "price_pnl_quote_units": 3343.266796545132,
      "turnover_quote_units": 28841.17169908429,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13497.06506344557,
      "return_pct": 34.9706506344557,
      "cagr_pct": 243.1596996868186,
      "max_drawdown_pct": 18.044484235782843,
      "mean_exposure_while_solvent": 1.4392308995577008,
      "realized_annual_volatility_pct": 53.166344612557246,
      "trading_costs_quote_units": 89.12762986009783,
      "borrowing_costs_quote_units": 232.37242080837365,
      "price_pnl_quote_units": 3818.5651141140465,
      "turnover_quote_units": 29709.209953365942,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13571.746710294903,
      "return_pct": 35.71746710294903,
      "cagr_pct": 251.03418573436275,
      "max_drawdown_pct": 19.654856340445225,
      "mean_exposure_while_solvent": 1.4966834140716536,
      "realized_annual_volatility_pct": 55.62870718143932,
      "trading_costs_quote_units": 72.89879773587796,
      "borrowing_costs_quote_units": 260.4735288685167,
      "price_pnl_quote_units": 3905.119036899288,
      "turnover_quote_units": 24299.599245292673,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13534.551199278865,
      "return_pct": 35.34551199278866,
      "cagr_pct": 247.09536446830828,
      "max_drawdown_pct": 17.27808167844741,
      "mean_exposure_while_solvent": 1.3949317274689015,
      "realized_annual_volatility_pct": 52.04172543380358,
      "trading_costs_quote_units": 104.21454699084518,
      "borrowing_costs_quote_units": 205.28582759893933,
      "price_pnl_quote_units": 3844.0515738686404,
      "turnover_quote_units": 34738.18233028172,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13556.379434835271,
      "return_pct": 35.56379434835271,
      "cagr_pct": 249.40278869291222,
      "max_drawdown_pct": 19.591188337126695,
      "mean_exposure_while_solvent": 1.4752129094616844,
      "realized_annual_volatility_pct": 55.06891033507168,
      "trading_costs_quote_units": 74.81935828692382,
      "borrowing_costs_quote_units": 249.68365557021374,
      "price_pnl_quote_units": 3880.8824486923963,
      "turnover_quote_units": 24939.786095641284,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12575.916929111496,
      "return_pct": 25.75916929111497,
      "cagr_pct": 156.60816911288995,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.17703271722885,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2605.8271983039176,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 11903.206103431976,
      "return_pct": 19.03206103431976,
      "cagr_pct": 104.69269910261198,
      "max_drawdown_pct": 10.086398980607248,
      "mean_exposure_while_solvent": 0.748786577680084,
      "realized_annual_volatility_pct": 27.9206858763841,
      "trading_costs_quote_units": 29.253569817571687,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1932.45967324955,
      "turnover_quote_units": 9751.189939190566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 12575.916929111496,
      "return_pct": 25.75916929111497,
      "cagr_pct": 156.60816911288995,
      "max_drawdown_pct": 13.240996645373448,
      "mean_exposure_while_solvent": 0.99812734082397,
      "realized_annual_volatility_pct": 37.17703271722885,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2605.8271983039176,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13079.382840485168,
      "return_pct": 30.793828404851673,
      "cagr_pct": 201.5531764892387,
      "max_drawdown_pct": 16.49756577897704,
      "mean_exposure_while_solvent": 1.2474357801841298,
      "realized_annual_volatility_pct": 46.41244337913509,
      "trading_costs_quote_units": 48.965938945850716,
      "borrowing_costs_quote_units": 129.43065808762145,
      "price_pnl_quote_units": 3257.779437518647,
      "turnover_quote_units": 16321.979648616894,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 13571.746710294903,
      "return_pct": 35.71746710294903,
      "cagr_pct": 251.03418573436275,
      "max_drawdown_pct": 19.654856340445225,
      "mean_exposure_while_solvent": 1.4966834140716536,
      "realized_annual_volatility_pct": 55.62870718143932,
      "trading_costs_quote_units": 72.89879773587796,
      "borrowing_costs_quote_units": 260.4735288685167,
      "price_pnl_quote_units": 3905.119036899288,
      "turnover_quote_units": 24299.599245292673,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13394.606939962297,
      "return_pct": 33.94606939962297,
      "cagr_pct": 232.5748292573424,
      "max_drawdown_pct": 12.159546429938617,
      "mean_exposure_while_solvent": 1.0808514444463706,
      "realized_annual_volatility_pct": 41.09225765500422,
      "trading_costs_quote_units": 86.85184132259411,
      "borrowing_costs_quote_units": 16.030546709550233,
      "price_pnl_quote_units": 3497.4893279944376,
      "turnover_quote_units": 28950.613774198027,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13726.77252247194,
      "return_pct": 37.26772522471939,
      "cagr_pct": 267.8161749248125,
      "max_drawdown_pct": 17.873216039589412,
      "mean_exposure_while_solvent": 1.4334008927039437,
      "realized_annual_volatility_pct": 53.11605721105679,
      "trading_costs_quote_units": 85.69370732718959,
      "borrowing_costs_quote_units": 58.350592386735826,
      "price_pnl_quote_units": 3870.8168221858723,
      "turnover_quote_units": 28564.569109063195,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13796.789656919114,
      "return_pct": 37.967896569191154,
      "cagr_pct": 275.59163646276744,
      "max_drawdown_pct": 19.466181702031825,
      "mean_exposure_while_solvent": 1.4907161294692914,
      "realized_annual_volatility_pct": 55.509573389214125,
      "trading_costs_quote_units": 72.93228686797796,
      "borrowing_costs_quote_units": 65.36149475327403,
      "price_pnl_quote_units": 3935.083438540356,
      "turnover_quote_units": 24310.762289325998,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13649.794411545412,
      "return_pct": 36.49794411545413,
      "cagr_pct": 259.40893979793384,
      "max_drawdown_pct": 17.203178801807727,
      "mean_exposure_while_solvent": 1.389234239926353,
      "realized_annual_volatility_pct": 52.04493161368823,
      "trading_costs_quote_units": 106.7530373377318,
      "borrowing_costs_quote_units": 51.28725330096063,
      "price_pnl_quote_units": 3807.8347021841055,
      "turnover_quote_units": 35584.34577924394,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13779.386755979216,
      "return_pct": 37.79386755979217,
      "cagr_pct": 273.6475238546332,
      "max_drawdown_pct": 19.4296597761346,
      "mean_exposure_while_solvent": 1.4692566323102014,
      "realized_annual_volatility_pct": 54.98980050251793,
      "trading_costs_quote_units": 73.9039525644313,
      "borrowing_costs_quote_units": 62.64057833557088,
      "price_pnl_quote_units": 3915.931286879227,
      "turnover_quote_units": 24634.650854810432,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 12569.894464150537,
      "return_pct": 25.69894464150537,
      "cagr_pct": 156.10328026521208,
      "max_drawdown_pct": 13.240996645373437,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.13811548959251,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2599.8047333429613,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 11902.026243693217,
      "return_pct": 19.020262436932178,
      "cagr_pct": 104.60928949619293,
      "max_drawdown_pct": 10.074876908133234,
      "mean_exposure_while_solvent": 0.7460353528376671,
      "realized_annual_volatility_pct": 27.90375815628544,
      "trading_costs_quote_units": 29.269664091184673,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1931.2959077843968,
      "turnover_quote_units": 9756.554697061556,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 12569.894464150537,
      "return_pct": 25.69894464150537,
      "cagr_pct": 156.10328026521208,
      "max_drawdown_pct": 13.240996645373437,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.13811548959251,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2599.8047333429613,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13185.200123467266,
      "return_pct": 31.852001234672667,
      "cagr_pct": 211.7112360099086,
      "max_drawdown_pct": 16.394368726899355,
      "mean_exposure_while_solvent": 1.242607255880039,
      "realized_annual_volatility_pct": 46.33761059789519,
      "trading_costs_quote_units": 48.97167485555631,
      "borrowing_costs_quote_units": 32.34633114197167,
      "price_pnl_quote_units": 3266.51812946479,
      "turnover_quote_units": 16323.891618518772,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 13796.789656919114,
      "return_pct": 37.967896569191154,
      "cagr_pct": 275.59163646276744,
      "max_drawdown_pct": 19.466181702031825,
      "mean_exposure_while_solvent": 1.4907161294692914,
      "realized_annual_volatility_pct": 55.509573389214125,
      "trading_costs_quote_units": 72.93228686797796,
      "borrowing_costs_quote_units": 65.36149475327403,
      "price_pnl_quote_units": 3935.083438540356,
      "turnover_quote_units": 24310.762289325998,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13374.391445158968,
      "return_pct": 33.74391445158969,
      "cagr_pct": 230.5159154160219,
      "max_drawdown_pct": 12.159546429938617,
      "mean_exposure_while_solvent": 1.080861037924788,
      "realized_annual_volatility_pct": 41.09110858851233,
      "trading_costs_quote_units": 86.80435173540775,
      "borrowing_costs_quote_units": 32.038505943868195,
      "price_pnl_quote_units": 3493.2343028382397,
      "turnover_quote_units": 28934.78391180256,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13653.837319462862,
      "return_pct": 36.538373194628626,
      "cagr_pct": 259.8468358257273,
      "max_drawdown_pct": 17.93272521530912,
      "mean_exposure_while_solvent": 1.4334372144310707,
      "realized_annual_volatility_pct": 53.11723833279714,
      "trading_costs_quote_units": 85.5879488420218,
      "borrowing_costs_quote_units": 116.38276219950947,
      "price_pnl_quote_units": 3855.8080305043827,
      "turnover_quote_units": 28529.316280673953,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13713.902413053049,
      "return_pct": 37.139024130530494,
      "cagr_pct": 266.40029855407084,
      "max_drawdown_pct": 19.54994459911307,
      "mean_exposure_while_solvent": 1.490758345960773,
      "realized_annual_volatility_pct": 55.511260073843225,
      "trading_costs_quote_units": 72.81718950119601,
      "borrowing_costs_quote_units": 130.31880204372783,
      "price_pnl_quote_units": 3917.038404597955,
      "turnover_quote_units": 24272.396500398667,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13584.532737699668,
      "return_pct": 35.845327376996686,
      "cagr_pct": 252.39594420007046,
      "max_drawdown_pct": 17.25083582301341,
      "mean_exposure_while_solvent": 1.38926640283772,
      "realized_annual_volatility_pct": 52.04585867441902,
      "trading_costs_quote_units": 106.61663227310925,
      "borrowing_costs_quote_units": 102.32439323698105,
      "price_pnl_quote_units": 3793.473763209758,
      "turnover_quote_units": 35538.87742436975,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13700.234577547608,
      "return_pct": 37.00234577547607,
      "cagr_pct": 264.9011823062806,
      "max_drawdown_pct": 19.511879347505555,
      "mean_exposure_while_solvent": 1.4692964662595596,
      "realized_annual_volatility_pct": 54.99132106253558,
      "trading_costs_quote_units": 73.7569802308823,
      "borrowing_costs_quote_units": 124.9107427311948,
      "price_pnl_quote_units": 3898.902300509693,
      "turnover_quote_units": 24585.660076960776,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 12569.894464150537,
      "return_pct": 25.69894464150537,
      "cagr_pct": 156.10328026521208,
      "max_drawdown_pct": 13.240996645373437,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.13811548959251,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2599.8047333429613,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 11902.026243693217,
      "return_pct": 19.020262436932178,
      "cagr_pct": 104.60928949619293,
      "max_drawdown_pct": 10.074876908133234,
      "mean_exposure_while_solvent": 0.7460353528376671,
      "realized_annual_volatility_pct": 27.90375815628544,
      "trading_costs_quote_units": 29.269664091184673,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1931.2959077843968,
      "turnover_quote_units": 9756.554697061556,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 12569.894464150537,
      "return_pct": 25.69894464150537,
      "cagr_pct": 156.10328026521208,
      "max_drawdown_pct": 13.240996645373437,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.13811548959251,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2599.8047333429613,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13145.517572082123,
      "return_pct": 31.455175720821217,
      "cagr_pct": 207.8719931920045,
      "max_drawdown_pct": 16.437755560224264,
      "mean_exposure_while_solvent": 1.2426248554206984,
      "realized_annual_volatility_pct": 46.33831300492638,
      "trading_costs_quote_units": 48.942498891153036,
      "borrowing_costs_quote_units": 64.59519654440233,
      "price_pnl_quote_units": 3259.055267517669,
      "turnover_quote_units": 16314.166297051019,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 13713.902413053049,
      "return_pct": 37.139024130530494,
      "cagr_pct": 266.40029855407084,
      "max_drawdown_pct": 19.54994459911307,
      "mean_exposure_while_solvent": 1.490758345960773,
      "realized_annual_volatility_pct": 55.511260073843225,
      "trading_costs_quote_units": 72.81718950119601,
      "borrowing_costs_quote_units": 130.31880204372783,
      "price_pnl_quote_units": 3917.038404597955,
      "turnover_quote_units": 24272.396500398667,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13334.042167161733,
      "return_pct": 33.34042167161733,
      "cagr_pct": 226.43526437645764,
      "max_drawdown_pct": 12.159546429938617,
      "mean_exposure_while_solvent": 1.08088022838715,
      "realized_annual_volatility_pct": 41.08883309122378,
      "trading_costs_quote_units": 86.70950584642937,
      "borrowing_costs_quote_units": 63.98677232552712,
      "price_pnl_quote_units": 3484.73844533368,
      "turnover_quote_units": 28903.16861547645,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13509.089477457734,
      "return_pct": 35.09089477457734,
      "cagr_pct": 244.4184426167304,
      "max_drawdown_pct": 18.05164384558674,
      "mean_exposure_while_solvent": 1.433509872889134,
      "realized_annual_volatility_pct": 53.119607147618254,
      "trading_costs_quote_units": 85.37789815033305,
      "borrowing_costs_quote_units": 231.49843108959595,
      "price_pnl_quote_units": 3825.9658066976585,
      "turnover_quote_units": 28459.299383444344,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13549.574367955294,
      "return_pct": 35.49574367955295,
      "cagr_pct": 248.68219555634474,
      "max_drawdown_pct": 19.717255093996634,
      "mean_exposure_while_solvent": 1.4908427971660325,
      "realized_annual_volatility_pct": 55.51463578287197,
      "trading_costs_quote_units": 72.58871408526838,
      "borrowing_costs_quote_units": 259.03038163673125,
      "price_pnl_quote_units": 3881.1934636773003,
      "turnover_quote_units": 24196.238028422795,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13454.910549860873,
      "return_pct": 34.549105498608725,
      "cagr_pct": 238.7743474232964,
      "max_drawdown_pct": 17.34608998518977,
      "mean_exposure_while_solvent": 1.3893307416398764,
      "realized_annual_volatility_pct": 52.04772408590163,
      "trading_costs_quote_units": 106.34515444026445,
      "borrowing_costs_quote_units": 203.65295466228673,
      "price_pnl_quote_units": 3764.908658963423,
      "turnover_quote_units": 35448.384813421486,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13543.249807672455,
      "return_pct": 35.43249807672455,
      "cagr_pct": 248.0134924802867,
      "max_drawdown_pct": 19.676111734834578,
      "mean_exposure_while_solvent": 1.4693761509497447,
      "realized_annual_volatility_pct": 54.99436468107385,
      "trading_costs_quote_units": 73.46508880836284,
      "borrowing_costs_quote_units": 248.34816734741815,
      "price_pnl_quote_units": 3865.0630638282264,
      "turnover_quote_units": 24488.362936120946,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12569.894464150537,
      "return_pct": 25.69894464150537,
      "cagr_pct": 156.10328026521208,
      "max_drawdown_pct": 13.240996645373437,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.13811548959251,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2599.8047333429613,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 11902.026243693217,
      "return_pct": 19.020262436932178,
      "cagr_pct": 104.60928949619293,
      "max_drawdown_pct": 10.074876908133234,
      "mean_exposure_while_solvent": 0.7460353528376671,
      "realized_annual_volatility_pct": 27.90375815628544,
      "trading_costs_quote_units": 29.269664091184673,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 1931.2959077843968,
      "turnover_quote_units": 9756.554697061556,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 12569.894464150537,
      "return_pct": 25.69894464150537,
      "cagr_pct": 156.10328026521208,
      "max_drawdown_pct": 13.240996645373437,
      "mean_exposure_while_solvent": 0.9943820224719101,
      "realized_annual_volatility_pct": 37.13811548959251,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 2599.8047333429613,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13066.492972663345,
      "return_pct": 30.66492972663346,
      "cagr_pct": 200.33313824397788,
      "max_drawdown_pct": 16.524481015407055,
      "mean_exposure_while_solvent": 1.2426600598997466,
      "realized_annual_volatility_pct": 46.33971854890051,
      "trading_costs_quote_units": 48.88438418717188,
      "borrowing_costs_quote_units": 128.8016279061376,
      "price_pnl_quote_units": 3244.178984756653,
      "turnover_quote_units": 16294.794729057297,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "recent_June_September",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 13549.574367955294,
      "return_pct": 35.49574367955295,
      "cagr_pct": 248.68219555634474,
      "max_drawdown_pct": 19.717255093996634,
      "mean_exposure_while_solvent": 1.4908427971660325,
      "realized_annual_volatility_pct": 55.51463578287197,
      "trading_costs_quote_units": 72.58871408526838,
      "borrowing_costs_quote_units": 259.03038163673125,
      "price_pnl_quote_units": 3881.1934636773003,
      "turnover_quote_units": 24196.238028422795,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 89,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 0
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 163975.9798639985,
      "return_pct": 1539.759798639985,
      "cagr_pct": 46.53486344462536,
      "max_drawdown_pct": 66.74064762109248,
      "mean_exposure_while_solvent": 0.7910657612490494,
      "realized_annual_volatility_pct": 43.14945394465396,
      "trading_costs_quote_units": 2782.1705516456063,
      "borrowing_costs_quote_units": 2139.998010746577,
      "price_pnl_quote_units": 158898.14842639005,
      "turnover_quote_units": 4636950.9194093365,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 263421.626363626,
      "return_pct": 2534.21626363626,
      "cagr_pct": 56.33755116129133,
      "max_drawdown_pct": 81.52124381467671,
      "mean_exposure_while_solvent": 1.1126386936549957,
      "realized_annual_volatility_pct": 61.695581539538665,
      "trading_costs_quote_units": 4253.7823865304645,
      "borrowing_costs_quote_units": 12011.540896704786,
      "price_pnl_quote_units": 269686.94964686217,
      "turnover_quote_units": 7089637.310884135,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 238476.81563800512,
      "return_pct": 2284.7681563800516,
      "cagr_pct": 54.22734968104148,
      "max_drawdown_pct": 89.1736526331106,
      "mean_exposure_while_solvent": 1.3146504963532644,
      "realized_annual_volatility_pct": 75.95013640808465,
      "trading_costs_quote_units": 3935.7816544002467,
      "borrowing_costs_quote_units": 18329.649206647035,
      "price_pnl_quote_units": 250742.24649905277,
      "turnover_quote_units": 6559636.0906670755,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 166969.45412589982,
      "return_pct": 1569.6945412589982,
      "cagr_pct": 46.897435698489936,
      "max_drawdown_pct": 81.631119617246,
      "mean_exposure_while_solvent": 1.1401504786504066,
      "realized_annual_volatility_pct": 62.3505224922974,
      "trading_costs_quote_units": 5013.475057502162,
      "borrowing_costs_quote_units": 9299.626186561994,
      "price_pnl_quote_units": 171282.55536996404,
      "turnover_quote_units": 8355791.762503604,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2661,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 282435.2138293091,
      "return_pct": 2724.3521382930912,
      "cagr_pct": 57.83302619833006,
      "max_drawdown_pct": 78.10924023781513,
      "mean_exposure_while_solvent": 1.088761054675615,
      "realized_annual_volatility_pct": 61.37672717256121,
      "trading_costs_quote_units": 2921.6778150950427,
      "borrowing_costs_quote_units": 11879.464178140708,
      "price_pnl_quote_units": 287236.35582254437,
      "turnover_quote_units": 4869463.025158406,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2615,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 150370.40932188922,
      "return_pct": 1403.7040932188922,
      "cagr_pct": 44.81125048491508,
      "max_drawdown_pct": 77.23462005993005,
      "mean_exposure_while_solvent": 0.9215063082281802,
      "realized_annual_volatility_pct": 53.39940682119156,
      "trading_costs_quote_units": 643.2129755070597,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 141013.62229739566,
      "turnover_quote_units": 1072021.6258451017,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1047,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 126341.15754569655,
      "return_pct": 1163.4115754569655,
      "cagr_pct": 41.40762418606554,
      "max_drawdown_pct": 65.44236877425769,
      "mean_exposure_while_solvent": 0.7500220845467636,
      "realized_annual_volatility_pct": 46.17454035817297,
      "trading_costs_quote_units": 447.86362762871744,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 116789.02117332528,
      "turnover_quote_units": 746439.3793811958,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 207542.81360425678,
      "return_pct": 1975.428136042568,
      "cagr_pct": 51.327920023183474,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.999937667518544,
      "realized_annual_volatility_pct": 61.74446915608547,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 197548.81000641515,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 254989.20994869666,
      "return_pct": 2449.892099486967,
      "cagr_pct": 55.64428378303879,
      "max_drawdown_pct": 85.46469506562701,
      "mean_exposure_while_solvent": 1.2498928484486715,
      "realized_annual_volatility_pct": 77.49360600207162,
      "trading_costs_quote_units": 1536.6279272886575,
      "borrowing_costs_quote_units": 13833.059678569554,
      "price_pnl_quote_units": 260358.8975545581,
      "turnover_quote_units": 2561046.5454811016,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 259313.3782347012,
      "return_pct": 2493.133782347012,
      "cagr_pct": 56.00222530336869,
      "max_drawdown_pct": 91.59854970742904,
      "mean_exposure_while_solvent": 1.4999208452107418,
      "realized_annual_volatility_pct": 93.51923546567724,
      "trading_costs_quote_units": 4229.604129607549,
      "borrowing_costs_quote_units": 31364.379322863922,
      "price_pnl_quote_units": 284907.36168717215,
      "turnover_quote_units": 7049340.216012574,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 161275.55532855433,
      "return_pct": 1512.755553285543,
      "cagr_pct": 46.20284894580916,
      "max_drawdown_pct": 66.75542076800826,
      "mean_exposure_while_solvent": 0.7910691847073358,
      "realized_annual_volatility_pct": 43.1494238792943,
      "trading_costs_quote_units": 2756.5322322935817,
      "borrowing_costs_quote_units": 4230.757630896429,
      "price_pnl_quote_units": 158262.84519174424,
      "turnover_quote_units": 4594220.38715596,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 245645.2166329394,
      "return_pct": 2356.452166329394,
      "cagr_pct": 54.85255873714332,
      "max_drawdown_pct": 81.58572462814422,
      "mean_exposure_while_solvent": 1.1126540964842224,
      "realized_annual_volatility_pct": 61.69635997217108,
      "trading_costs_quote_units": 4081.8555334785683,
      "borrowing_costs_quote_units": 22848.84363102523,
      "price_pnl_quote_units": 262575.9157974428,
      "turnover_quote_units": 6803092.5557976235,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 210616.79967803782,
      "return_pct": 2006.167996780378,
      "cagr_pct": 51.63215474534375,
      "max_drawdown_pct": 89.32276074217846,
      "mean_exposure_while_solvent": 1.314678535537186,
      "realized_annual_volatility_pct": 75.9525028317947,
      "trading_costs_quote_units": 3664.921818518842,
      "borrowing_costs_quote_units": 33622.77205626141,
      "price_pnl_quote_units": 237904.49355281523,
      "turnover_quote_units": 6108203.0308647435,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 154052.47345734845,
      "return_pct": 1440.5247345734845,
      "cagr_pct": 45.29058776953455,
      "max_drawdown_pct": 81.72701565399245,
      "mean_exposure_while_solvent": 1.1401684365265943,
      "realized_annual_volatility_pct": 62.35174049150783,
      "trading_costs_quote_units": 4793.361921116347,
      "borrowing_costs_quote_units": 17578.338980459375,
      "price_pnl_quote_units": 166424.1743589233,
      "turnover_quote_units": 7988936.535193923,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2661,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 265460.5610195998,
      "return_pct": 2554.605610195998,
      "cagr_pct": 56.50230078902323,
      "max_drawdown_pct": 78.13989897168476,
      "mean_exposure_while_solvent": 1.0887745529787705,
      "realized_annual_volatility_pct": 61.37739047474492,
      "trading_costs_quote_units": 2809.6633105075275,
      "borrowing_costs_quote_units": 22719.3967011288,
      "price_pnl_quote_units": 280989.62103123387,
      "turnover_quote_units": 4682772.184179218,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2615,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 150370.40932188922,
      "return_pct": 1403.7040932188922,
      "cagr_pct": 44.81125048491508,
      "max_drawdown_pct": 77.23462005993005,
      "mean_exposure_while_solvent": 0.9215063082281802,
      "realized_annual_volatility_pct": 53.39940682119156,
      "trading_costs_quote_units": 643.2129755070597,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 141013.62229739566,
      "turnover_quote_units": 1072021.6258451017,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1047,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 126341.15754569655,
      "return_pct": 1163.4115754569655,
      "cagr_pct": 41.40762418606554,
      "max_drawdown_pct": 65.44236877425769,
      "mean_exposure_while_solvent": 0.7500220845467636,
      "realized_annual_volatility_pct": 46.17454035817297,
      "trading_costs_quote_units": 447.86362762871744,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 116789.02117332528,
      "turnover_quote_units": 746439.3793811958,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 207542.81360425678,
      "return_pct": 1975.428136042568,
      "cagr_pct": 51.327920023183474,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.999937667518544,
      "realized_annual_volatility_pct": 61.74446915608547,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 197548.81000641515,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 232696.94611503815,
      "return_pct": 2226.9694611503814,
      "cagr_pct": 53.71131554673807,
      "max_drawdown_pct": 85.65252262033181,
      "mean_exposure_while_solvent": 1.2499106690840023,
      "realized_annual_volatility_pct": 77.49526921476343,
      "trading_costs_quote_units": 1452.4131830318927,
      "borrowing_costs_quote_units": 25998.138340575482,
      "price_pnl_quote_units": 250147.49763864535,
      "turnover_quote_units": 2420688.638386484,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 215938.94082389242,
      "return_pct": 2059.3894082389243,
      "cagr_pct": 52.14994131352033,
      "max_drawdown_pct": 91.93100286444259,
      "mean_exposure_while_solvent": 1.4999636399905043,
      "realized_annual_volatility_pct": 93.52334024208213,
      "trading_costs_quote_units": 3788.8499757156223,
      "borrowing_costs_quote_units": 55509.96874700561,
      "price_pnl_quote_units": 265237.7595466161,
      "turnover_quote_units": 6314749.959526033,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 156006.10759711254,
      "return_pct": 1460.0610759711253,
      "cagr_pct": 45.540911749347025,
      "max_drawdown_pct": 66.78495399663765,
      "mean_exposure_while_solvent": 0.791076032824657,
      "realized_annual_volatility_pct": 43.14937356861996,
      "trading_costs_quote_units": 2706.14347728225,
      "borrowing_costs_quote_units": 8268.233874663116,
      "price_pnl_quote_units": 156980.48494905804,
      "turnover_quote_units": 4510239.128803752,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 213602.33852140326,
      "return_pct": 2036.0233852140325,
      "cagr_pct": 51.92398776028959,
      "max_drawdown_pct": 81.71404197539495,
      "mean_exposure_while_solvent": 1.112684908234633,
      "realized_annual_volatility_pct": 61.697940629243575,
      "trading_costs_quote_units": 3762.99350351835,
      "borrowing_costs_quote_units": 41366.37714551735,
      "price_pnl_quote_units": 248731.7091704418,
      "turnover_quote_units": 6271655.839197244,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 164269.6382031212,
      "return_pct": 1542.6963820312121,
      "cagr_pct": 46.57068326826755,
      "max_drawdown_pct": 89.61491629188332,
      "mean_exposure_while_solvent": 1.3147346254401335,
      "realized_annual_volatility_pct": 75.95725362034901,
      "trading_costs_quote_units": 3189.7500006202545,
      "borrowing_costs_quote_units": 56717.92690659466,
      "price_pnl_quote_units": 214177.3151103355,
      "turnover_quote_units": 5316250.001033767,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 131133.29689053883,
      "return_pct": 1211.3329689053883,
      "cagr_pct": 42.12858045753576,
      "max_drawdown_pct": 81.91735332374093,
      "mean_exposure_while_solvent": 1.1402043595255618,
      "realized_annual_volatility_pct": 62.35420235190513,
      "trading_costs_quote_units": 4388.553464309713,
      "borrowing_costs_quote_units": 31433.271762986118,
      "price_pnl_quote_units": 156955.1221178351,
      "turnover_quote_units": 7314255.773849521,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2661,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 234502.8862942878,
      "return_pct": 2245.028862942878,
      "cagr_pct": 53.87372971508493,
      "max_drawdown_pct": 78.20110014162198,
      "mean_exposure_while_solvent": 1.0888015548154915,
      "realized_annual_volatility_pct": 61.378738851632505,
      "trading_costs_quote_units": 2600.7214383533933,
      "borrowing_costs_quote_units": 41569.47602040567,
      "price_pnl_quote_units": 268673.08375304844,
      "turnover_quote_units": 4334535.730588993,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2615,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 150370.40932188922,
      "return_pct": 1403.7040932188922,
      "cagr_pct": 44.81125048491508,
      "max_drawdown_pct": 77.23462005993005,
      "mean_exposure_while_solvent": 0.9215063082281802,
      "realized_annual_volatility_pct": 53.39940682119156,
      "trading_costs_quote_units": 643.2129755070597,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 141013.62229739566,
      "turnover_quote_units": 1072021.6258451017,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1047,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 126341.15754569655,
      "return_pct": 1163.4115754569655,
      "cagr_pct": 41.40762418606554,
      "max_drawdown_pct": 65.44236877425769,
      "mean_exposure_while_solvent": 0.7500220845467636,
      "realized_annual_volatility_pct": 46.17454035817297,
      "trading_costs_quote_units": 447.86362762871744,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 116789.02117332528,
      "turnover_quote_units": 746439.3793811958,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 207542.81360425678,
      "return_pct": 1975.428136042568,
      "cagr_pct": 51.327920023183474,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.999937667518544,
      "realized_annual_volatility_pct": 61.74446915608547,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 197548.81000641515,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 193780.4910045819,
      "return_pct": 1837.8049100458193,
      "cagr_pct": 49.916231073169676,
      "max_drawdown_pct": 86.17795079241482,
      "mean_exposure_while_solvent": 1.249946315845963,
      "realized_annual_volatility_pct": 77.4985963373705,
      "trading_costs_quote_units": 1300.0090635430786,
      "borrowing_costs_quote_units": 45986.38380341775,
      "price_pnl_quote_units": 231066.88387154118,
      "turnover_quote_units": 2166681.772571802,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 149726.19007017073,
      "return_pct": 1397.2619007017074,
      "cagr_pct": 44.72634531509786,
      "max_drawdown_pct": 92.55713445169779,
      "mean_exposure_while_solvent": 1.5000492481306396,
      "realized_annual_volatility_pct": 93.53155233630415,
      "trading_costs_quote_units": 3062.3457688938056,
      "borrowing_costs_quote_units": 87508.70177763446,
      "price_pnl_quote_units": 230297.23761669802,
      "turnover_quote_units": 5103909.61482301,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 167636.7172521519,
      "return_pct": 1576.367172521519,
      "cagr_pct": 46.97748953819558,
      "max_drawdown_pct": 66.71761075746292,
      "mean_exposure_while_solvent": 0.7909269748157988,
      "realized_annual_volatility_pct": 43.29854400241242,
      "trading_costs_quote_units": 2813.1576687750944,
      "borrowing_costs_quote_units": 2175.3145767143537,
      "price_pnl_quote_units": 162625.18949764178,
      "turnover_quote_units": 4688596.114625164,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 281889.1427542809,
      "return_pct": 2718.8914275428087,
      "cagr_pct": 57.791305950573715,
      "max_drawdown_pct": 81.40734506194919,
      "mean_exposure_while_solvent": 1.1123475525337863,
      "realized_annual_volatility_pct": 61.787633680341656,
      "trading_costs_quote_units": 4438.338794547685,
      "borrowing_costs_quote_units": 12628.785375193052,
      "price_pnl_quote_units": 288956.2669240227,
      "turnover_quote_units": 7397231.324246142,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 258246.58949571845,
      "return_pct": 2482.4658949571844,
      "cagr_pct": 55.91440139385475,
      "max_drawdown_pct": 89.2100162499558,
      "mean_exposure_while_solvent": 1.3143453219098027,
      "realized_annual_volatility_pct": 75.67882040762618,
      "trading_costs_quote_units": 4117.495739274009,
      "borrowing_costs_quote_units": 19486.028168307246,
      "price_pnl_quote_units": 271850.11340330035,
      "turnover_quote_units": 6862492.898790026,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 175339.5340220522,
      "return_pct": 1653.395340220522,
      "cagr_pct": 47.882239437027266,
      "max_drawdown_pct": 82.03472179538625,
      "mean_exposure_while_solvent": 1.1398377128863333,
      "realized_annual_volatility_pct": 62.532234144902624,
      "trading_costs_quote_units": 5164.758779868493,
      "borrowing_costs_quote_units": 9666.349153851663,
      "price_pnl_quote_units": 180170.64195577212,
      "turnover_quote_units": 8607931.299780842,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2661,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 304038.6215359823,
      "return_pct": 2940.386215359823,
      "cagr_pct": 59.430162846542615,
      "max_drawdown_pct": 77.96388300449169,
      "mean_exposure_while_solvent": 1.0885229396880522,
      "realized_annual_volatility_pct": 61.36167797918088,
      "trading_costs_quote_units": 3024.400931043717,
      "borrowing_costs_quote_units": 12509.523564021676,
      "price_pnl_quote_units": 309572.54603104776,
      "turnover_quote_units": 5040668.218406203,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2615,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 153831.13363726478,
      "return_pct": 1438.3113363726477,
      "cagr_pct": 45.26205435272492,
      "max_drawdown_pct": 77.15760716028329,
      "mean_exposure_while_solvent": 0.92137607337148,
      "realized_annual_volatility_pct": 53.459599940535796,
      "trading_costs_quote_units": 660.5089113909205,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 144491.64254865475,
      "turnover_quote_units": 1100848.1856515342,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1047,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 126508.54201237138,
      "return_pct": 1165.085420123714,
      "cagr_pct": 41.43320125421868,
      "max_drawdown_pct": 65.32081466078613,
      "mean_exposure_while_solvent": 0.7499556131609106,
      "realized_annual_volatility_pct": 46.23460933974688,
      "trading_costs_quote_units": 443.54910464125646,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 116952.091117012,
      "turnover_quote_units": 739248.5077354291,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 208831.2582010492,
      "return_pct": 1988.312582010492,
      "cagr_pct": 51.455908832675014,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9998130025556318,
      "realized_annual_volatility_pct": 61.74399514087084,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 198837.25460320734,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 258630.34301570983,
      "return_pct": 2486.3034301570983,
      "cagr_pct": 55.946030102939034,
      "max_drawdown_pct": 85.5571908722217,
      "mean_exposure_while_solvent": 1.2497016801179643,
      "realized_annual_volatility_pct": 77.34312406874155,
      "trading_costs_quote_units": 1557.0524024941767,
      "borrowing_costs_quote_units": 14050.480777163031,
      "price_pnl_quote_units": 264237.87619536585,
      "turnover_quote_units": 2595087.3374902937,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 266089.58108132606,
      "return_pct": 2560.8958108132606,
      "cagr_pct": 56.55290623778881,
      "max_drawdown_pct": 91.74779060711067,
      "mean_exposure_while_solvent": 1.4996580382090894,
      "realized_annual_volatility_pct": 93.05763283845768,
      "trading_costs_quote_units": 4374.5385186290105,
      "borrowing_costs_quote_units": 32309.98008398593,
      "price_pnl_quote_units": 292774.0996839424,
      "turnover_quote_units": 7290897.5310483575,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 164876.44667371857,
      "return_pct": 1548.7644667371858,
      "cagr_pct": 46.64452566911376,
      "max_drawdown_pct": 66.7324405708923,
      "mean_exposure_while_solvent": 0.790930396902443,
      "realized_annual_volatility_pct": 43.29849413610166,
      "trading_costs_quote_units": 2787.2172065055597,
      "borrowing_costs_quote_units": 4300.454898070283,
      "price_pnl_quote_units": 161964.1187782942,
      "turnover_quote_units": 4645362.010842589,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 262874.92035752226,
      "return_pct": 2528.7492035752225,
      "cagr_pct": 56.29318916833918,
      "max_drawdown_pct": 81.47179469716191,
      "mean_exposure_while_solvent": 1.1123629359252047,
      "realized_annual_volatility_pct": 61.788185773446294,
      "trading_costs_quote_units": 4258.229743918356,
      "borrowing_costs_quote_units": 24019.823285197002,
      "price_pnl_quote_units": 281152.97338663845,
      "turnover_quote_units": 7097049.5731972605,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 228084.98936127272,
      "return_pct": 2180.849893612727,
      "cagr_pct": 53.291554300223986,
      "max_drawdown_pct": 89.35869396372381,
      "mean_exposure_while_solvent": 1.314373339995416,
      "realized_annual_volatility_pct": 75.68070183595005,
      "trading_costs_quote_units": 3832.9038816281836,
      "borrowing_costs_quote_units": 35732.66509711179,
      "price_pnl_quote_units": 257650.55834001105,
      "turnover_quote_units": 6388173.136046979,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 161778.6737664521,
      "return_pct": 1517.786737664521,
      "cagr_pct": 46.26506884051063,
      "max_drawdown_pct": 82.1284313778874,
      "mean_exposure_while_solvent": 1.1398556490725804,
      "realized_annual_volatility_pct": 62.53323786697974,
      "trading_costs_quote_units": 4936.845964910897,
      "borrowing_costs_quote_units": 18266.032391941477,
      "price_pnl_quote_units": 174981.5521233037,
      "turnover_quote_units": 8228076.608184857,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2661,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 285773.82703011227,
      "return_pct": 2757.7382703011226,
      "cagr_pct": 58.08659473385802,
      "max_drawdown_pct": 77.9946107492295,
      "mean_exposure_while_solvent": 1.0885364267999162,
      "realized_annual_volatility_pct": 61.36213848198495,
      "trading_costs_quote_units": 2908.285731480093,
      "borrowing_costs_quote_units": 23921.819962480622,
      "price_pnl_quote_units": 302603.9327240723,
      "turnover_quote_units": 4847142.885800152,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2615,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 153831.13363726478,
      "return_pct": 1438.3113363726477,
      "cagr_pct": 45.26205435272492,
      "max_drawdown_pct": 77.15760716028329,
      "mean_exposure_while_solvent": 0.92137607337148,
      "realized_annual_volatility_pct": 53.459599940535796,
      "trading_costs_quote_units": 660.5089113909205,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 144491.64254865475,
      "turnover_quote_units": 1100848.1856515342,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1047,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 126508.54201237138,
      "return_pct": 1165.085420123714,
      "cagr_pct": 41.43320125421868,
      "max_drawdown_pct": 65.32081466078613,
      "mean_exposure_while_solvent": 0.7499556131609106,
      "realized_annual_volatility_pct": 46.23460933974688,
      "trading_costs_quote_units": 443.54910464125646,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 116952.091117012,
      "turnover_quote_units": 739248.5077354291,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 208831.2582010492,
      "return_pct": 1988.312582010492,
      "cagr_pct": 51.455908832675014,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9998130025556318,
      "realized_annual_volatility_pct": 61.74399514087084,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 198837.25460320734,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 236022.7907557734,
      "return_pct": 2260.227907557734,
      "cagr_pct": 54.00958498477655,
      "max_drawdown_pct": 85.74384251644193,
      "mean_exposure_while_solvent": 1.2497194964639873,
      "realized_annual_volatility_pct": 77.34455966673421,
      "trading_costs_quote_units": 1472.0612993482694,
      "borrowing_costs_quote_units": 26408.82675637246,
      "price_pnl_quote_units": 253903.67881149423,
      "turnover_quote_units": 2453435.4989137887,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 221587.93172893606,
      "return_pct": 2115.8793172893606,
      "cagr_pct": 52.687609303675046,
      "max_drawdown_pct": 92.07439476775735,
      "mean_exposure_while_solvent": 1.4997008216353174,
      "realized_annual_volatility_pct": 93.06112085464562,
      "trading_costs_quote_units": 3923.0827408075406,
      "borrowing_costs_quote_units": 57205.34702680808,
      "price_pnl_quote_units": 272716.36149654863,
      "turnover_quote_units": 6538471.23467924,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 159490.21173698062,
      "return_pct": 1494.9021173698063,
      "cagr_pct": 45.98069714194267,
      "max_drawdown_pct": 66.76208702858692,
      "mean_exposure_while_solvent": 0.7909372422765313,
      "realized_annual_volatility_pct": 43.298404135129736,
      "trading_costs_quote_units": 2736.2568015330726,
      "borrowing_costs_quote_units": 8403.959802166171,
      "price_pnl_quote_units": 160630.4283406806,
      "turnover_quote_units": 4560428.002555114,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 228599.13471804006,
      "return_pct": 2185.9913471804007,
      "cagr_pct": 53.33871074917478,
      "max_drawdown_pct": 81.60005560670022,
      "mean_exposure_while_solvent": 1.112393708789955,
      "realized_annual_volatility_pct": 61.789313681253354,
      "trading_costs_quote_units": 3924.343346980345,
      "borrowing_costs_quote_units": 43474.40345066012,
      "price_pnl_quote_units": 265997.8815156792,
      "turnover_quote_units": 6540572.244967246,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 177906.29409936615,
      "return_pct": 1679.0629409936614,
      "cagr_pct": 48.17610516063321,
      "max_drawdown_pct": 89.65000353564406,
      "mean_exposure_while_solvent": 1.3144293876884277,
      "realized_annual_volatility_pct": 75.68448247842773,
      "trading_costs_quote_units": 3334.0013071882854,
      "borrowing_costs_quote_units": 60236.60270696079,
      "price_pnl_quote_units": 231476.89811351633,
      "turnover_quote_units": 5556668.845313816,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 137716.25159046892,
      "return_pct": 1277.1625159046891,
      "cagr_pct": 43.08273648077991,
      "max_drawdown_pct": 82.31443074780236,
      "mean_exposure_while_solvent": 1.1398915286792046,
      "realized_annual_volatility_pct": 62.53527103831556,
      "trading_costs_quote_units": 4517.85985661104,
      "borrowing_costs_quote_units": 32642.667841657225,
      "price_pnl_quote_units": 164876.77928873737,
      "turnover_quote_units": 7529766.427685069,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2661,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 252461.79368267982,
      "return_pct": 2424.617936826798,
      "cagr_pct": 55.43263787868544,
      "max_drawdown_pct": 78.05595024482477,
      "mean_exposure_while_solvent": 1.0885634062496687,
      "realized_annual_volatility_pct": 61.363081135375296,
      "trading_costs_quote_units": 2691.9335121558115,
      "borrowing_costs_quote_units": 43759.88486145254,
      "price_pnl_quote_units": 288913.612056286,
      "turnover_quote_units": 4486555.853593028,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2615,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 153831.13363726478,
      "return_pct": 1438.3113363726477,
      "cagr_pct": 45.26205435272492,
      "max_drawdown_pct": 77.15760716028329,
      "mean_exposure_while_solvent": 0.92137607337148,
      "realized_annual_volatility_pct": 53.459599940535796,
      "trading_costs_quote_units": 660.5089113909205,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 144491.64254865475,
      "turnover_quote_units": 1100848.1856515342,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1047,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 126508.54201237138,
      "return_pct": 1165.085420123714,
      "cagr_pct": 41.43320125421868,
      "max_drawdown_pct": 65.32081466078613,
      "mean_exposure_while_solvent": 0.7499556131609106,
      "realized_annual_volatility_pct": 46.23460933974688,
      "trading_costs_quote_units": 443.54910464125646,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 116952.091117012,
      "turnover_quote_units": 739248.5077354291,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 208831.2582010492,
      "return_pct": 1988.312582010492,
      "cagr_pct": 51.455908832675014,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9998130025556318,
      "realized_annual_volatility_pct": 61.74399514087084,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 198837.25460320734,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 196555.16783363908,
      "return_pct": 1865.5516783363908,
      "cagr_pct": 50.20766346671921,
      "max_drawdown_pct": 86.2756597301531,
      "mean_exposure_while_solvent": 1.2497551346464852,
      "realized_annual_volatility_pct": 77.34743154730538,
      "trading_costs_quote_units": 1318.289796796741,
      "borrowing_costs_quote_units": 46720.286742302516,
      "price_pnl_quote_units": 234593.7443727378,
      "turnover_quote_units": 2197149.6613279018,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 153651.66207048023,
      "return_pct": 1436.5166207048023,
      "cagr_pct": 45.23889223179013,
      "max_drawdown_pct": 92.68950060274182,
      "mean_exposure_while_solvent": 1.4997864070630902,
      "realized_annual_volatility_pct": 93.06809919129097,
      "trading_costs_quote_units": 3178.1522615420004,
      "borrowing_costs_quote_units": 90253.14389575912,
      "price_pnl_quote_units": 237082.95822778388,
      "turnover_quote_units": 5296920.435903326,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 145799.29918988925,
      "return_pct": 1357.9929918988926,
      "cagr_pct": 44.201870279918275,
      "max_drawdown_pct": 67.18142604094979,
      "mean_exposure_while_solvent": 0.7910657612490494,
      "realized_annual_volatility_pct": 43.14679710863156,
      "trading_costs_quote_units": 12815.062994439395,
      "borrowing_costs_quote_units": 1943.5254393241846,
      "price_pnl_quote_units": 150557.88762365284,
      "turnover_quote_units": 4271687.664813118,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 231657.70317742843,
      "return_pct": 2216.5770317742845,
      "cagr_pct": 53.61735901661135,
      "max_drawdown_pct": 81.822213321991,
      "mean_exposure_while_solvent": 1.1126386936549957,
      "realized_annual_volatility_pct": 61.690696034708296,
      "trading_costs_quote_units": 19409.371515920702,
      "borrowing_costs_quote_units": 10809.614279433583,
      "price_pnl_quote_units": 251876.68897278298,
      "turnover_quote_units": 6469790.505306895,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 210784.3291632402,
      "return_pct": 2007.8432916324023,
      "cagr_pct": 51.64862485008419,
      "max_drawdown_pct": 89.39693064771957,
      "mean_exposure_while_solvent": 1.3146504963532646,
      "realized_annual_volatility_pct": 75.94441453950674,
      "trading_costs_quote_units": 18097.267260328445,
      "borrowing_costs_quote_units": 16633.819027302114,
      "price_pnl_quote_units": 235515.41545087047,
      "turnover_quote_units": 6032422.420109488,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 134076.90471251128,
      "return_pct": 1240.769047125113,
      "cagr_pct": 42.56023221865985,
      "max_drawdown_pct": 82.2052446310441,
      "mean_exposure_while_solvent": 1.1401504786504066,
      "realized_annual_volatility_pct": 62.34593634780773,
      "trading_costs_quote_units": 21588.7540604959,
      "borrowing_costs_quote_units": 7789.605234925539,
      "price_pnl_quote_units": 153455.26400793184,
      "turnover_quote_units": 7196251.353498628,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2661,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 260312.9473102371,
      "return_pct": 2503.129473102371,
      "cagr_pct": 56.08423269667324,
      "max_drawdown_pct": 78.31191966034079,
      "mean_exposure_while_solvent": 1.088761054675615,
      "realized_annual_volatility_pct": 61.372209373402896,
      "trading_costs_quote_units": 13756.95881797858,
      "borrowing_costs_quote_units": 11114.778112699185,
      "price_pnl_quote_units": 275184.68424091523,
      "turnover_quote_units": 4585652.939326189,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2615,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 144218.8371769255,
      "return_pct": 1342.188371769255,
      "cagr_pct": 43.98733598578767,
      "max_drawdown_pct": 77.42092712344044,
      "mean_exposure_while_solvent": 0.9215063082281802,
      "realized_annual_volatility_pct": 53.397631318577666,
      "trading_costs_quote_units": 3131.1231033284307,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 137349.96028025384,
      "turnover_quote_units": 1043707.701109478,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1047,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 122822.79431291143,
      "return_pct": 1128.2279431291142,
      "cagr_pct": 40.86311458280916,
      "max_drawdown_pct": 65.58997961954007,
      "mean_exposure_while_solvent": 0.7500220845467636,
      "realized_annual_volatility_pct": 46.17458612200933,
      "trading_costs_quote_units": 2197.436768048091,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 115020.23108095975,
      "turnover_quote_units": 732478.9226826968,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 207046.20069034828,
      "return_pct": 1970.4620069034827,
      "cagr_pct": 51.27840530451999,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.999937667518544,
      "realized_annual_volatility_pct": 61.74457446534491,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 197076.11095954126,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 243250.72099597432,
      "return_pct": 2332.5072099597432,
      "cagr_pct": 54.64548985646556,
      "max_drawdown_pct": 85.56891043417242,
      "mean_exposure_while_solvent": 1.2498928484486715,
      "realized_annual_volatility_pct": 77.49386163127178,
      "trading_costs_quote_units": 7436.860924187726,
      "borrowing_costs_quote_units": 13354.142082143982,
      "price_pnl_quote_units": 254041.72400230463,
      "turnover_quote_units": 2478953.641395914,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 232367.7323031316,
      "return_pct": 2223.677323031316,
      "cagr_pct": 53.681591051023815,
      "max_drawdown_pct": 91.83933365125647,
      "mean_exposure_while_solvent": 1.4999208452107418,
      "realized_annual_volatility_pct": 93.51958068382112,
      "trading_costs_quote_units": 19653.89662797324,
      "borrowing_costs_quote_units": 28953.37684925653,
      "price_pnl_quote_units": 270975.00578036264,
      "turnover_quote_units": 6551298.875991088,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 143398.6004967229,
      "return_pct": 1333.986004967229,
      "cagr_pct": 43.87519453781164,
      "max_drawdown_pct": 67.19599325749981,
      "mean_exposure_while_solvent": 0.7910691847073358,
      "realized_annual_volatility_pct": 43.14677145766092,
      "trading_costs_quote_units": 12698.671321980335,
      "borrowing_costs_quote_units": 3842.60336391174,
      "price_pnl_quote_units": 149939.87518261466,
      "turnover_quote_units": 4232890.440660115,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 216025.92711941997,
      "return_pct": 2060.2592711941998,
      "cagr_pct": 52.15831221128979,
      "max_drawdown_pct": 81.88563982801037,
      "mean_exposure_while_solvent": 1.1126540964842224,
      "realized_annual_volatility_pct": 61.69148594654301,
      "trading_costs_quote_units": 18635.998527932847,
      "borrowing_costs_quote_units": 20568.915552074064,
      "price_pnl_quote_units": 245230.84119942583,
      "turnover_quote_units": 6211999.509310952,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 186160.73809139724,
      "return_pct": 1761.6073809139725,
      "cagr_pct": 49.09695956304267,
      "max_drawdown_pct": 89.54299108330125,
      "mean_exposure_while_solvent": 1.314678535537186,
      "realized_annual_volatility_pct": 75.94680389329372,
      "trading_costs_quote_units": 16870.19195390148,
      "borrowing_costs_quote_units": 30534.63375769082,
      "price_pnl_quote_units": 223565.56380299033,
      "turnover_quote_units": 5623397.317967174,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 123703.6323066096,
      "return_pct": 1137.036323066096,
      "cagr_pct": 41.000686429702085,
      "max_drawdown_pct": 82.29815728551596,
      "mean_exposure_while_solvent": 1.1401684365265943,
      "realized_annual_volatility_pct": 62.34716438345169,
      "trading_costs_quote_units": 20666.18949128791,
      "borrowing_costs_quote_units": 14734.428736283113,
      "price_pnl_quote_units": 149104.25053418137,
      "turnover_quote_units": 6888729.830429308,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2661,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 244671.24645233894,
      "return_pct": 2346.7124645233894,
      "cagr_pct": 54.76854386129564,
      "max_drawdown_pct": 78.34227437977115,
      "mean_exposure_while_solvent": 1.0887745529787705,
      "realized_annual_volatility_pct": 61.37288516552304,
      "trading_costs_quote_units": 13233.823619957795,
      "borrowing_costs_quote_units": 21260.55877434115,
      "price_pnl_quote_units": 269165.6288466387,
      "turnover_quote_units": 4411274.53998594,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2615,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 144218.8371769255,
      "return_pct": 1342.188371769255,
      "cagr_pct": 43.98733598578767,
      "max_drawdown_pct": 77.42092712344044,
      "mean_exposure_while_solvent": 0.9215063082281802,
      "realized_annual_volatility_pct": 53.397631318577666,
      "trading_costs_quote_units": 3131.1231033284307,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 137349.96028025384,
      "turnover_quote_units": 1043707.701109478,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1047,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 122822.79431291143,
      "return_pct": 1128.2279431291142,
      "cagr_pct": 40.86311458280916,
      "max_drawdown_pct": 65.58997961954007,
      "mean_exposure_while_solvent": 0.7500220845467636,
      "realized_annual_volatility_pct": 46.17458612200933,
      "trading_costs_quote_units": 2197.436768048091,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 115020.23108095975,
      "turnover_quote_units": 732478.9226826968,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 207046.20069034828,
      "return_pct": 1970.4620069034827,
      "cagr_pct": 51.27840530451999,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.999937667518544,
      "realized_annual_volatility_pct": 61.74457446534491,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 197076.11095954126,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 221984.61830374433,
      "return_pct": 2119.8461830374436,
      "cagr_pct": 52.724919341909086,
      "max_drawdown_pct": 85.78191742380984,
      "mean_exposure_while_solvent": 1.2499106690840023,
      "realized_annual_volatility_pct": 77.4955438372258,
      "trading_costs_quote_units": 7031.338328512422,
      "borrowing_costs_quote_units": 25103.98722316957,
      "price_pnl_quote_units": 244119.94385542488,
      "turnover_quote_units": 2343779.4428374683,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 193498.71274412167,
      "return_pct": 1834.9871274412167,
      "cagr_pct": 49.88643392073292,
      "max_drawdown_pct": 92.16236359570242,
      "mean_exposure_while_solvent": 1.4999636399905043,
      "realized_annual_volatility_pct": 93.52373092374016,
      "trading_costs_quote_units": 17629.43599881233,
      "borrowing_costs_quote_units": 51303.64530921284,
      "price_pnl_quote_units": 252431.79405214498,
      "turnover_quote_units": 5876478.666270792,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 138713.80716357296,
      "return_pct": 1287.1380716357296,
      "cagr_pct": 43.223873502761734,
      "max_drawdown_pct": 67.22721743230107,
      "mean_exposure_while_solvent": 0.791076032824657,
      "realized_annual_volatility_pct": 43.14672997062777,
      "trading_costs_quote_units": 12469.88372074195,
      "borrowing_costs_quote_units": 7510.712426871509,
      "price_pnl_quote_units": 148694.40331118784,
      "turnover_quote_units": 4156627.906913983,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 187847.6934484602,
      "return_pct": 1778.476934484602,
      "cagr_pct": 49.28080270390188,
      "max_drawdown_pct": 82.0118591388055,
      "mean_exposure_while_solvent": 1.112684908234633,
      "realized_annual_volatility_pct": 61.69308956659193,
      "trading_costs_quote_units": 17200.964906906043,
      "borrowing_costs_quote_units": 37262.56407748576,
      "price_pnl_quote_units": 232311.2224328502,
      "turnover_quote_units": 5733654.968968675,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 145195.86366402364,
      "return_pct": 1351.9586366402364,
      "cagr_pct": 44.12019709519911,
      "max_drawdown_pct": 89.82917404941655,
      "mean_exposure_while_solvent": 1.3147346254401335,
      "realized_annual_volatility_pct": 75.951600776999,
      "trading_costs_quote_units": 14715.225053102764,
      "borrowing_costs_quote_units": 51588.2882259556,
      "price_pnl_quote_units": 201499.3769430825,
      "turnover_quote_units": 4905075.01770091,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 105297.24671130205,
      "return_pct": 952.9724671130206,
      "cagr_pct": 37.93161905754589,
      "max_drawdown_pct": 82.48257322519872,
      "mean_exposure_while_solvent": 1.1402043595255618,
      "realized_annual_volatility_pct": 62.349646466131816,
      "trading_costs_quote_units": 18967.658683881127,
      "borrowing_costs_quote_units": 26386.134119595008,
      "price_pnl_quote_units": 140651.03951477734,
      "turnover_quote_units": 6322552.894627034,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2661,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 216142.86385495053,
      "return_pct": 2061.428638549505,
      "cagr_pct": 52.169560726424116,
      "max_drawdown_pct": 78.40286875795879,
      "mean_exposure_while_solvent": 1.0888015548154915,
      "realized_annual_volatility_pct": 61.37425898706375,
      "trading_costs_quote_units": 12257.73280815304,
      "borrowing_costs_quote_units": 38913.65717106915,
      "price_pnl_quote_units": 257314.25383417206,
      "turnover_quote_units": 4085910.9360510167,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2615,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 144218.8371769255,
      "return_pct": 1342.188371769255,
      "cagr_pct": 43.98733598578767,
      "max_drawdown_pct": 77.42092712344044,
      "mean_exposure_while_solvent": 0.9215063082281802,
      "realized_annual_volatility_pct": 53.397631318577666,
      "trading_costs_quote_units": 3131.1231033284307,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 137349.96028025384,
      "turnover_quote_units": 1043707.701109478,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1047,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 122822.79431291143,
      "return_pct": 1128.2279431291142,
      "cagr_pct": 40.86311458280916,
      "max_drawdown_pct": 65.58997961954007,
      "mean_exposure_while_solvent": 0.7500220845467636,
      "realized_annual_volatility_pct": 46.17458612200933,
      "trading_costs_quote_units": 2197.436768048091,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 115020.23108095975,
      "turnover_quote_units": 732478.9226826968,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 207046.20069034828,
      "return_pct": 1970.4620069034827,
      "cagr_pct": 51.27840530451999,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.999937667518544,
      "realized_annual_volatility_pct": 61.74457446534491,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 197076.11095954126,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 184858.37946688838,
      "return_pct": 1748.583794668884,
      "cagr_pct": 48.95404301060445,
      "max_drawdown_pct": 86.34400445150453,
      "mean_exposure_while_solvent": 1.249946315845963,
      "realized_annual_volatility_pct": 77.49890901633688,
      "trading_costs_quote_units": 6297.219871667151,
      "borrowing_costs_quote_units": 44426.12245605968,
      "price_pnl_quote_units": 225581.72179461576,
      "turnover_quote_units": 2099073.2905557174,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 134162.30037213746,
      "return_pct": 1241.6230037213745,
      "cagr_pct": 42.57263207708918,
      "max_drawdown_pct": 92.77075896734954,
      "mean_exposure_while_solvent": 1.5000492481306396,
      "realized_annual_volatility_pct": 93.53203413465235,
      "trading_costs_quote_units": 14287.628921801004,
      "borrowing_costs_quote_units": 81076.88487187373,
      "price_pnl_quote_units": 219526.8141658144,
      "turnover_quote_units": 4762542.973933676,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 148829.93223776785,
      "return_pct": 1388.2993223776784,
      "cagr_pct": 44.607696422774445,
      "max_drawdown_pct": 67.17083032910726,
      "mean_exposure_while_solvent": 0.7909269748157988,
      "realized_annual_volatility_pct": 43.29861259351031,
      "trading_costs_quote_units": 12939.129087997759,
      "borrowing_costs_quote_units": 1972.069219980313,
      "price_pnl_quote_units": 153741.1305457448,
      "turnover_quote_units": 4313043.029332581,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 247896.34215171848,
      "return_pct": 2378.963421517185,
      "cagr_pct": 55.04564611743425,
      "max_drawdown_pct": 81.71323681890941,
      "mean_exposure_while_solvent": 1.1123475525337863,
      "realized_annual_volatility_pct": 61.78714872492211,
      "trading_costs_quote_units": 20241.356287303366,
      "borrowing_costs_quote_units": 11359.717215556024,
      "price_pnl_quote_units": 269497.41565457865,
      "turnover_quote_units": 6747118.762434462,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 228678.45325541927,
      "return_pct": 2186.784532554193,
      "cagr_pct": 53.34597754186123,
      "max_drawdown_pct": 89.43258267551441,
      "mean_exposure_while_solvent": 1.3143453219098027,
      "realized_annual_volatility_pct": 75.68112194669713,
      "trading_costs_quote_units": 18952.400408181682,
      "borrowing_costs_quote_units": 17703.465211618946,
      "price_pnl_quote_units": 255334.31887522066,
      "turnover_quote_units": 6317466.802727234,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 140698.55149682247,
      "return_pct": 1306.9855149682248,
      "cagr_pct": 43.50209395080962,
      "max_drawdown_pct": 82.59663119419635,
      "mean_exposure_while_solvent": 1.1398377128863333,
      "realized_annual_volatility_pct": 62.53408836041373,
      "trading_costs_quote_units": 22206.15832378634,
      "borrowing_costs_quote_units": 8083.440028871011,
      "price_pnl_quote_units": 160988.14984948057,
      "turnover_quote_units": 7402052.774595444,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2661,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 280301.67595182406,
      "return_pct": 2703.0167595182406,
      "cagr_pct": 57.66962474393116,
      "max_drawdown_pct": 78.17315835790825,
      "mean_exposure_while_solvent": 1.0885229396880522,
      "realized_annual_volatility_pct": 61.36172006208125,
      "trading_costs_quote_units": 14239.82113655303,
      "borrowing_costs_quote_units": 11701.79696967843,
      "price_pnl_quote_units": 296243.2940580535,
      "turnover_quote_units": 4746607.045517679,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2615,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 147438.49113697186,
      "return_pct": 1374.3849113697186,
      "cagr_pct": 44.4222658445872,
      "max_drawdown_pct": 77.34572994732758,
      "mean_exposure_while_solvent": 0.92137607337148,
      "realized_annual_volatility_pct": 53.458929486519025,
      "trading_costs_quote_units": 3213.6810040638443,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 140652.1721410355,
      "turnover_quote_units": 1071227.001354613,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1047,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 123070.5265667043,
      "return_pct": 1130.705265667043,
      "cagr_pct": 40.901892002997904,
      "max_drawdown_pct": 65.47002531448975,
      "mean_exposure_while_solvent": 0.7499556131609106,
      "realized_annual_volatility_pct": 46.23546109722782,
      "trading_costs_quote_units": 2177.5032945987086,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 115248.02986130369,
      "turnover_quote_units": 725834.4315329029,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 208331.56226916236,
      "return_pct": 1983.3156226916235,
      "cagr_pct": 51.4063522358843,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9998130025556318,
      "realized_annual_volatility_pct": 61.7441004713916,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 198361.47253835492,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 247005.61653866753,
      "return_pct": 2370.0561653866753,
      "cagr_pct": 54.96942699751539,
      "max_drawdown_pct": 85.66173557190695,
      "mean_exposure_while_solvent": 1.2497016801179643,
      "realized_annual_volatility_pct": 77.34518725380717,
      "trading_costs_quote_units": 7544.240266797356,
      "borrowing_costs_quote_units": 13577.65418207061,
      "price_pnl_quote_units": 258127.51098753625,
      "turnover_quote_units": 2514746.755599119,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 239093.4259564766,
      "return_pct": 2290.934259564766,
      "cagr_pct": 54.28176205253641,
      "max_drawdown_pct": 91.98457007145396,
      "mean_exposure_while_solvent": 1.4996580382090894,
      "realized_annual_volatility_pct": 93.06330130852679,
      "trading_costs_quote_units": 20388.08083854629,
      "borrowing_costs_quote_units": 29902.059610336182,
      "price_pnl_quote_units": 279383.566405357,
      "turnover_quote_units": 6796026.946182112,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 146379.6611270036,
      "return_pct": 1363.7966112700362,
      "cagr_pct": 44.28014565881539,
      "max_drawdown_pct": 67.18545583302364,
      "mean_exposure_while_solvent": 0.790930396902443,
      "realized_annual_volatility_pct": 43.298565571535505,
      "trading_costs_quote_units": 12821.540931010692,
      "borrowing_costs_quote_units": 3898.9170703253703,
      "price_pnl_quote_units": 153100.1191283406,
      "turnover_quote_units": 4273846.977003566,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 231175.45879914623,
      "return_pct": 2211.7545879914624,
      "cagr_pct": 53.57363629055707,
      "max_drawdown_pct": 81.77664795141044,
      "mean_exposure_while_solvent": 1.1123629359252047,
      "realized_annual_volatility_pct": 61.78771085182837,
      "trading_costs_quote_units": 19431.318814003,
      "borrowing_costs_quote_units": 21612.58048607679,
      "price_pnl_quote_units": 262219.3580992253,
      "turnover_quote_units": 6477106.271334327,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 201971.14404693106,
      "return_pct": 1919.7114404693107,
      "cagr_pct": 50.76643078327212,
      "max_drawdown_pct": 89.57822763909233,
      "mean_exposure_while_solvent": 1.314373339995416,
      "realized_annual_volatility_pct": 75.68302537495785,
      "trading_costs_quote_units": 17661.278475465308,
      "borrowing_costs_quote_units": 32486.921722523733,
      "price_pnl_quote_units": 242119.3442449206,
      "turnover_quote_units": 5887092.825155122,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 129815.89096098016,
      "return_pct": 1198.1589096098016,
      "cagr_pct": 41.93268011893214,
      "max_drawdown_pct": 82.68744893248056,
      "mean_exposure_while_solvent": 1.1398556490725804,
      "realized_annual_volatility_pct": 62.53510388138807,
      "trading_costs_quote_units": 21252.044529777057,
      "borrowing_costs_quote_units": 15285.304941172653,
      "price_pnl_quote_units": 156353.24043193005,
      "turnover_quote_units": 7084014.84325903,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2661,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 263466.3981761192,
      "return_pct": 2534.6639817611917,
      "cagr_pct": 56.34118060932687,
      "max_drawdown_pct": 78.20358389677928,
      "mean_exposure_while_solvent": 1.0885364267999162,
      "realized_annual_volatility_pct": 61.36219147960949,
      "trading_costs_quote_units": 13697.521161727933,
      "borrowing_costs_quote_units": 22380.85452855509,
      "price_pnl_quote_units": 289544.77386640076,
      "turnover_quote_units": 4565840.387242647,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2615,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 147438.49113697186,
      "return_pct": 1374.3849113697186,
      "cagr_pct": 44.4222658445872,
      "max_drawdown_pct": 77.34572994732758,
      "mean_exposure_while_solvent": 0.92137607337148,
      "realized_annual_volatility_pct": 53.458929486519025,
      "trading_costs_quote_units": 3213.6810040638443,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 140652.1721410355,
      "turnover_quote_units": 1071227.001354613,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1047,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 123070.5265667043,
      "return_pct": 1130.705265667043,
      "cagr_pct": 40.901892002997904,
      "max_drawdown_pct": 65.47002531448975,
      "mean_exposure_while_solvent": 0.7499556131609106,
      "realized_annual_volatility_pct": 46.23546109722782,
      "trading_costs_quote_units": 2177.5032945987086,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 115248.02986130369,
      "turnover_quote_units": 725834.4315329029,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 208331.56226916236,
      "return_pct": 1983.3156226916235,
      "cagr_pct": 51.4063522358843,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9998130025556318,
      "realized_annual_volatility_pct": 61.7441004713916,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 198361.47253835492,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 225414.0152717836,
      "return_pct": 2154.1401527178364,
      "cagr_pct": 53.045090518597334,
      "max_drawdown_pct": 85.88243503515488,
      "mean_exposure_while_solvent": 1.2497194964639875,
      "realized_annual_volatility_pct": 77.34664140677347,
      "trading_costs_quote_units": 7134.489270755947,
      "borrowing_costs_quote_units": 25526.00882395563,
      "price_pnl_quote_units": 248074.51336649517,
      "turnover_quote_units": 2378163.090251978,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 199104.73209852225,
      "return_pct": 1891.0473209852223,
      "cagr_pct": 50.47233684397827,
      "max_drawdown_pct": 92.30196192343833,
      "mean_exposure_while_solvent": 1.4997008216353174,
      "realized_annual_volatility_pct": 93.06683494647478,
      "trading_costs_quote_units": 18308.101036505814,
      "borrowing_costs_quote_units": 53003.93054183267,
      "price_pnl_quote_units": 260416.76367685714,
      "turnover_quote_units": 6102700.345501947,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 141598.17790438706,
      "return_pct": 1315.9817790438706,
      "cagr_pct": 43.62708848350384,
      "max_drawdown_pct": 67.2146938568404,
      "mean_exposure_while_solvent": 0.7909372422765313,
      "realized_annual_volatility_pct": 43.298481071972326,
      "trading_costs_quote_units": 12590.507481063682,
      "borrowing_costs_quote_units": 7620.311698298364,
      "price_pnl_quote_units": 151808.99708374872,
      "turnover_quote_units": 4196835.827021226,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 201032.42428339503,
      "return_pct": 1910.3242428339502,
      "cagr_pct": 50.67051717794655,
      "max_drawdown_pct": 81.90284700895842,
      "mean_exposure_while_solvent": 1.112393708789955,
      "realized_annual_volatility_pct": 61.78885877072591,
      "trading_costs_quote_units": 17928.937738917142,
      "borrowing_costs_quote_units": 39141.5840151647,
      "price_pnl_quote_units": 248102.94603747662,
      "turnover_quote_units": 5976312.579639054,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 157537.14989961684,
      "return_pct": 1475.3714989961684,
      "cagr_pct": 45.735203283107275,
      "max_drawdown_pct": 89.86359411982842,
      "mean_exposure_while_solvent": 1.3144293876884277,
      "realized_annual_volatility_pct": 75.68685026249648,
      "trading_costs_quote_units": 15395.496663079022,
      "borrowing_costs_quote_units": 54846.31622836273,
      "price_pnl_quote_units": 217778.96279105928,
      "turnover_quote_units": 5131832.221026344,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2645,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 110505.0821250008,
      "return_pct": 1005.0508212500081,
      "cagr_pct": 38.84419266183824,
      "max_drawdown_pct": 82.86770861729684,
      "mean_exposure_while_solvent": 1.1398915286792046,
      "realized_annual_volatility_pct": 62.53716047761188,
      "trading_costs_quote_units": 19496.158580381292,
      "borrowing_costs_quote_units": 27354.424886763103,
      "price_pnl_quote_units": 147355.66559214535,
      "turnover_quote_units": 6498719.52679375,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2661,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 232759.67387495434,
      "return_pct": 2227.5967387495434,
      "cagr_pct": 53.71697507576283,
      "max_drawdown_pct": 78.26432016547565,
      "mean_exposure_while_solvent": 1.0885634062496687,
      "realized_annual_volatility_pct": 61.3631561569708,
      "trading_costs_quote_units": 12686.79198628316,
      "borrowing_costs_quote_units": 40954.50824068534,
      "price_pnl_quote_units": 276400.9741019225,
      "turnover_quote_units": 4228930.66209439,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2615,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 147438.49113697186,
      "return_pct": 1374.3849113697186,
      "cagr_pct": 44.4222658445872,
      "max_drawdown_pct": 77.34572994732758,
      "mean_exposure_while_solvent": 0.92137607337148,
      "realized_annual_volatility_pct": 53.458929486519025,
      "trading_costs_quote_units": 3213.6810040638443,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 140652.1721410355,
      "turnover_quote_units": 1071227.001354613,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1047,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 123070.5265667043,
      "return_pct": 1130.705265667043,
      "cagr_pct": 40.901892002997904,
      "max_drawdown_pct": 65.47002531448975,
      "mean_exposure_while_solvent": 0.7499556131609106,
      "realized_annual_volatility_pct": 46.23546109722782,
      "trading_costs_quote_units": 2177.5032945987086,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 115248.02986130369,
      "turnover_quote_units": 725834.4315329029,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 208331.56226916236,
      "return_pct": 1983.3156226916235,
      "cagr_pct": 51.4063522358843,
      "max_drawdown_pct": 77.07519595383854,
      "mean_exposure_while_solvent": 0.9998130025556318,
      "realized_annual_volatility_pct": 61.7441004713916,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 198361.47253835492,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 187718.80318885858,
      "return_pct": 1777.188031888586,
      "cagr_pct": 49.26680674167636,
      "max_drawdown_pct": 86.44067929964582,
      "mean_exposure_while_solvent": 1.2497551346464852,
      "realized_annual_volatility_pct": 77.34955065151087,
      "trading_costs_quote_units": 6392.894256145548,
      "borrowing_costs_quote_units": 45179.66543808331,
      "price_pnl_quote_units": 229291.36288308713,
      "turnover_quote_units": 2130964.752048513,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "reference",
      "quote_currency": "USD",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 138056.60379398454,
      "return_pct": 1280.5660379398453,
      "cagr_pct": 43.130989402599354,
      "max_drawdown_pct": 92.89970934320773,
      "mean_exposure_while_solvent": 1.4997864070630902,
      "realized_annual_volatility_pct": 93.07390515960631,
      "trading_costs_quote_units": 14870.91202184285,
      "borrowing_costs_quote_units": 83827.39626400685,
      "price_pnl_quote_units": 226754.9120798333,
      "turnover_quote_units": 4956970.6739476165,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2674,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 1
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 171091.8511104285,
      "return_pct": 1610.9185111042852,
      "cagr_pct": 47.38766542327017,
      "max_drawdown_pct": 66.87484992212522,
      "mean_exposure_while_solvent": 0.8441324597366153,
      "realized_annual_volatility_pct": 50.1890070823115,
      "trading_costs_quote_units": 2956.447751416513,
      "borrowing_costs_quote_units": 2198.5387724127086,
      "price_pnl_quote_units": 166246.83763425742,
      "turnover_quote_units": 4927412.919027513,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 264585.9281174416,
      "return_pct": 2545.859281174416,
      "cagr_pct": 56.43176314225153,
      "max_drawdown_pct": 81.45800113270654,
      "mean_exposure_while_solvent": 1.1341589764503537,
      "realized_annual_volatility_pct": 64.15157926212427,
      "trading_costs_quote_units": 4518.404987071872,
      "borrowing_costs_quote_units": 13504.907191177595,
      "price_pnl_quote_units": 272609.24029568967,
      "turnover_quote_units": 7530674.978453115,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 256739.60040013067,
      "return_pct": 2467.3960040013067,
      "cagr_pct": 55.78980246914587,
      "max_drawdown_pct": 89.19350276749907,
      "mean_exposure_while_solvent": 1.30406930907267,
      "realized_annual_volatility_pct": 74.0543042581555,
      "trading_costs_quote_units": 4306.819678675057,
      "borrowing_costs_quote_units": 22108.363042616915,
      "price_pnl_quote_units": 273154.7831214219,
      "turnover_quote_units": 7178032.797791758,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 213911.1205056078,
      "return_pct": 2039.1112050560782,
      "cagr_pct": 51.953969534263834,
      "max_drawdown_pct": 81.55635351573906,
      "mean_exposure_while_solvent": 1.1515490969582292,
      "realized_annual_volatility_pct": 63.24393297603922,
      "trading_costs_quote_units": 6377.468119661852,
      "borrowing_costs_quote_units": 12427.569915786695,
      "price_pnl_quote_units": 222716.15854105641,
      "turnover_quote_units": 10629113.532769762,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2504,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 296803.87569612305,
      "return_pct": 2868.0387569612303,
      "cagr_pct": 58.90653126977776,
      "max_drawdown_pct": 78.51895867148829,
      "mean_exposure_while_solvent": 1.1371239501892239,
      "realized_annual_volatility_pct": 65.5776699554697,
      "trading_costs_quote_units": 3199.6343850208477,
      "borrowing_costs_quote_units": 15232.342418093718,
      "price_pnl_quote_units": 305235.85249923886,
      "turnover_quote_units": 5332723.97503475,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1960,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 179835.39743795188,
      "return_pct": 1698.3539743795188,
      "cagr_pct": 48.39456628243844,
      "max_drawdown_pct": 77.2418292860772,
      "mean_exposure_while_solvent": 0.9463295076056977,
      "realized_annual_volatility_pct": 56.57566920515048,
      "trading_costs_quote_units": 719.9132079989076,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 170555.31064594985,
      "turnover_quote_units": 1199855.3466648485,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 768,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 126412.03597522023,
      "return_pct": 1164.1203597522024,
      "cagr_pct": 41.418458284952834,
      "max_drawdown_pct": 65.41559217625017,
      "mean_exposure_while_solvent": 0.7500122583506229,
      "realized_annual_volatility_pct": 45.75321774447595,
      "trading_costs_quote_units": 443.10758759672086,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 116855.14356281713,
      "turnover_quote_units": 738512.6459945347,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 208208.03603011722,
      "return_pct": 1982.0803603011723,
      "cagr_pct": 51.39408588656931,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9999376013977287,
      "realized_annual_volatility_pct": 61.19489683321977,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 198214.03243227548,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 256514.5461164101,
      "return_pct": 2465.145461164101,
      "cagr_pct": 55.771140659907225,
      "max_drawdown_pct": 85.4327397058566,
      "mean_exposure_while_solvent": 1.2499082398747015,
      "realized_annual_volatility_pct": 76.82446508234464,
      "trading_costs_quote_units": 1522.9505588434442,
      "borrowing_costs_quote_units": 13796.398430202056,
      "price_pnl_quote_units": 261833.89510545105,
      "turnover_quote_units": 2538250.931405739,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 261186.6907246694,
      "return_pct": 2511.866907246694,
      "cagr_pct": 56.15569460862873,
      "max_drawdown_pct": 91.57443459350226,
      "mean_exposure_while_solvent": 1.4999571120610722,
      "realized_annual_volatility_pct": 92.74426991531085,
      "trading_costs_quote_units": 4186.622058542864,
      "borrowing_costs_quote_units": 31246.891981813445,
      "price_pnl_quote_units": 286620.20476502494,
      "turnover_quote_units": 6977703.430904774,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 168458.95744529433,
      "return_pct": 1584.5895744529432,
      "cagr_pct": 47.07575898296091,
      "max_drawdown_pct": 66.88975565161014,
      "mean_exposure_while_solvent": 0.8441356422449751,
      "realized_annual_volatility_pct": 50.189132226730706,
      "trading_costs_quote_units": 2933.366389027565,
      "borrowing_costs_quote_units": 4351.058166296445,
      "price_pnl_quote_units": 165743.38200061925,
      "turnover_quote_units": 4888943.981712614,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 247034.9004760717,
      "return_pct": 2370.349004760717,
      "cagr_pct": 54.971936584964354,
      "max_drawdown_pct": 81.5233899033787,
      "mean_exposure_while_solvent": 1.1341741511920207,
      "realized_annual_volatility_pct": 64.152445508107,
      "trading_costs_quote_units": 4345.9631218445575,
      "borrowing_costs_quote_units": 25738.092642240208,
      "price_pnl_quote_units": 267118.9562401571,
      "turnover_quote_units": 7243271.869740924,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 228293.77532080893,
      "return_pct": 2182.9377532080894,
      "cagr_pct": 53.31071481386904,
      "max_drawdown_pct": 89.34476982698388,
      "mean_exposure_while_solvent": 1.3040960745350538,
      "realized_annual_volatility_pct": 74.05627706550065,
      "trading_costs_quote_units": 4045.7986959997015,
      "borrowing_costs_quote_units": 40805.263470347214,
      "price_pnl_quote_units": 263144.837487156,
      "turnover_quote_units": 6742997.826666169,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 197438.4107045175,
      "return_pct": 1874.3841070451751,
      "cagr_pct": 50.29968780497074,
      "max_drawdown_pct": 81.65361620948613,
      "mean_exposure_while_solvent": 1.151567086969712,
      "realized_annual_volatility_pct": 63.24513555439658,
      "trading_costs_quote_units": 6101.6922741030585,
      "borrowing_costs_quote_units": 23502.298882847612,
      "price_pnl_quote_units": 217042.40186146428,
      "turnover_quote_units": 10169487.123505104,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2504,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 279487.3260890069,
      "return_pct": 2694.873260890069,
      "cagr_pct": 57.60697279390152,
      "max_drawdown_pct": 78.55025766658656,
      "mean_exposure_while_solvent": 1.1371370951701625,
      "realized_annual_volatility_pct": 65.5783899279706,
      "trading_costs_quote_units": 3087.716298708274,
      "borrowing_costs_quote_units": 29228.210971868095,
      "price_pnl_quote_units": 301803.25335958257,
      "turnover_quote_units": 5146193.831180438,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1960,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 179835.39743795188,
      "return_pct": 1698.3539743795188,
      "cagr_pct": 48.39456628243844,
      "max_drawdown_pct": 77.2418292860772,
      "mean_exposure_while_solvent": 0.9463295076056977,
      "realized_annual_volatility_pct": 56.57566920515048,
      "trading_costs_quote_units": 719.9132079989076,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 170555.31064594985,
      "turnover_quote_units": 1199855.3466648485,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 768,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 126412.03597522023,
      "return_pct": 1164.1203597522024,
      "cagr_pct": 41.418458284952834,
      "max_drawdown_pct": 65.41559217625017,
      "mean_exposure_while_solvent": 0.7500122583506229,
      "realized_annual_volatility_pct": 45.75321774447595,
      "trading_costs_quote_units": 443.10758759672086,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 116855.14356281713,
      "turnover_quote_units": 738512.6459945347,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 208208.03603011722,
      "return_pct": 1982.0803603011723,
      "cagr_pct": 51.39408588656931,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9999376013977287,
      "realized_annual_volatility_pct": 61.19489683321977,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 198214.03243227548,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 234089.29194041953,
      "return_pct": 2240.8929194041953,
      "cagr_pct": 53.83662939251759,
      "max_drawdown_pct": 85.62097832887285,
      "mean_exposure_while_solvent": 1.249926186908407,
      "realized_annual_volatility_pct": 76.82612751620329,
      "trading_costs_quote_units": 1439.3383109070155,
      "borrowing_costs_quote_units": 25929.054904458346,
      "price_pnl_quote_units": 251457.68515578425,
      "turnover_quote_units": 2398897.1848450303,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 217499.4529487295,
      "return_pct": 2074.994529487295,
      "cagr_pct": 52.29967272889318,
      "max_drawdown_pct": 91.90784268433924,
      "mean_exposure_while_solvent": 1.5000002126004097,
      "realized_annual_volatility_pct": 92.74837895950697,
      "trading_costs_quote_units": 3749.5901626255663,
      "borrowing_costs_quote_units": 55300.55013127327,
      "price_pnl_quote_units": 266549.5932426298,
      "turnover_quote_units": 6249316.9377092635,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 163312.86326871853,
      "return_pct": 1533.1286326871855,
      "cagr_pct": 46.453773697132576,
      "max_drawdown_pct": 66.91955368813157,
      "mean_exposure_while_solvent": 0.8441420083674942,
      "realized_annual_volatility_pct": 50.189390386187185,
      "trading_costs_quote_units": 2887.9576034179113,
      "borrowing_costs_quote_units": 8521.192387811227,
      "price_pnl_quote_units": 164722.01325994724,
      "turnover_quote_units": 4813262.672363188,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 215340.36918237034,
      "return_pct": 2053.4036918237034,
      "cagr_pct": 52.092260266681365,
      "max_drawdown_pct": 81.65350681103878,
      "mean_exposure_while_solvent": 1.1342045067016122,
      "realized_annual_volatility_pct": 64.15420089516346,
      "trading_costs_quote_units": 4025.363036563698,
      "borrowing_costs_quote_units": 46772.198215173456,
      "price_pnl_quote_units": 256137.93043410816,
      "turnover_quote_units": 6708938.394272825,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 180496.3006346001,
      "return_pct": 1704.963006346001,
      "cagr_pct": 48.46894498073288,
      "max_drawdown_pct": 89.6410546952667,
      "mean_exposure_while_solvent": 1.3041496166523086,
      "realized_annual_volatility_pct": 74.06024360116761,
      "trading_costs_quote_units": 3582.8404309156936,
      "borrowing_costs_quote_units": 69665.71887441936,
      "price_pnl_quote_units": 243744.85993993317,
      "turnover_quote_units": 5971400.718192804,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 168193.4529866549,
      "return_pct": 1581.9345298665492,
      "cagr_pct": 47.04407276691908,
      "max_drawdown_pct": 81.84665171827102,
      "mean_exposure_while_solvent": 1.1516030743634231,
      "realized_annual_volatility_pct": 63.24756624739675,
      "trading_costs_quote_units": 5594.124068183211,
      "borrowing_costs_quote_units": 42065.56822596829,
      "price_pnl_quote_units": 205853.145280806,
      "turnover_quote_units": 9323540.113638686,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2504,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 247818.54851216933,
      "return_pct": 2378.1854851216935,
      "cagr_pct": 55.03899877148564,
      "max_drawdown_pct": 78.61273164110311,
      "mean_exposure_while_solvent": 1.1371633902579006,
      "realized_annual_volatility_pct": 65.57985028005193,
      "trading_costs_quote_units": 2877.791952327468,
      "borrowing_costs_quote_units": 53832.4859723901,
      "price_pnl_quote_units": 294528.8264368884,
      "turnover_quote_units": 4796319.920545778,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1960,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 179835.39743795188,
      "return_pct": 1698.3539743795188,
      "cagr_pct": 48.39456628243844,
      "max_drawdown_pct": 77.2418292860772,
      "mean_exposure_while_solvent": 0.9463295076056977,
      "realized_annual_volatility_pct": 56.57566920515048,
      "trading_costs_quote_units": 719.9132079989076,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 170555.31064594985,
      "turnover_quote_units": 1199855.3466648485,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 768,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 126412.03597522023,
      "return_pct": 1164.1203597522024,
      "cagr_pct": 41.418458284952834,
      "max_drawdown_pct": 65.41559217625017,
      "mean_exposure_while_solvent": 0.7500122583506229,
      "realized_annual_volatility_pct": 45.75321774447595,
      "trading_costs_quote_units": 443.10758759672086,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 116855.14356281713,
      "turnover_quote_units": 738512.6459945347,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 208208.03603011722,
      "return_pct": 1982.0803603011723,
      "cagr_pct": 51.39408588656931,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9999376013977287,
      "realized_annual_volatility_pct": 61.19489683321977,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 198214.03243227548,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 194940.5699224892,
      "return_pct": 1849.4056992248923,
      "cagr_pct": 50.03851302296771,
      "max_drawdown_pct": 86.14346732642451,
      "mean_exposure_while_solvent": 1.2499620866003334,
      "realized_annual_volatility_pct": 76.82945304629283,
      "trading_costs_quote_units": 1288.0432899253794,
      "borrowing_costs_quote_units": 45863.56161155789,
      "price_pnl_quote_units": 232092.1748239733,
      "turnover_quote_units": 2146738.8165423013,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 150808.93624351756,
      "return_pct": 1408.0893624351756,
      "cagr_pct": 44.868866863202115,
      "max_drawdown_pct": 92.5357743855931,
      "mean_exposure_while_solvent": 1.5000864327005698,
      "realized_annual_volatility_pct": 92.7565995258292,
      "trading_costs_quote_units": 3029.350413609515,
      "borrowing_costs_quote_units": 87174.37007601,
      "price_pnl_quote_units": 231012.6567331365,
      "turnover_quote_units": 5048917.356015865,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 171970.95994997723,
      "return_pct": 1619.7095994997724,
      "cagr_pct": 47.490886649685244,
      "max_drawdown_pct": 66.85775652720272,
      "mean_exposure_while_solvent": 0.8439957838565223,
      "realized_annual_volatility_pct": 50.27360295840414,
      "trading_costs_quote_units": 2929.9398099049567,
      "borrowing_costs_quote_units": 2193.243721717282,
      "price_pnl_quote_units": 167094.14348160045,
      "turnover_quote_units": 4883233.016508257,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 264487.12906814436,
      "return_pct": 2544.8712906814435,
      "cagr_pct": 56.423782517811524,
      "max_drawdown_pct": 81.35132738000657,
      "mean_exposure_while_solvent": 1.1338689633674524,
      "realized_annual_volatility_pct": 64.25931793000169,
      "trading_costs_quote_units": 4436.533336943165,
      "borrowing_costs_quote_units": 13382.92732160472,
      "price_pnl_quote_units": 272306.5897266911,
      "turnover_quote_units": 7394222.228238612,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 244749.9225592438,
      "return_pct": 2347.499225592438,
      "cagr_pct": 54.77534118943641,
      "max_drawdown_pct": 89.22527971401693,
      "mean_exposure_while_solvent": 1.3037996943474854,
      "realized_annual_volatility_pct": 74.17580310290411,
      "trading_costs_quote_units": 4060.7239592929304,
      "borrowing_costs_quote_units": 21032.6841387579,
      "price_pnl_quote_units": 259843.3306572964,
      "turnover_quote_units": 6767873.265488226,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 223430.33578931342,
      "return_pct": 2134.3033578931345,
      "cagr_pct": 52.860409743011935,
      "max_drawdown_pct": 81.9623179699721,
      "mean_exposure_while_solvent": 1.151256787658518,
      "realized_annual_volatility_pct": 63.42436535196799,
      "trading_costs_quote_units": 6583.017204388436,
      "borrowing_costs_quote_units": 12915.936598294036,
      "price_pnl_quote_units": 232929.28959199708,
      "turnover_quote_units": 10971695.340647386,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2511,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 304614.9123435713,
      "return_pct": 2946.149123435713,
      "cagr_pct": 59.4714090731165,
      "max_drawdown_pct": 78.39543376480798,
      "mean_exposure_while_solvent": 1.1369724215065766,
      "realized_annual_volatility_pct": 65.61852485169446,
      "trading_costs_quote_units": 3196.271238202378,
      "borrowing_costs_quote_units": 15498.828183658763,
      "price_pnl_quote_units": 313310.0117654325,
      "turnover_quote_units": 5327118.730337302,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1966,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 174153.47554757862,
      "return_pct": 1641.5347554757861,
      "cagr_pct": 47.745192332148285,
      "max_drawdown_pct": 77.16417880852826,
      "mean_exposure_while_solvent": 0.9462341751690058,
      "realized_annual_volatility_pct": 56.63863676885125,
      "trading_costs_quote_units": 700.8631276094754,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 164854.33867518738,
      "turnover_quote_units": 1168105.2126824595,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 774,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 126497.12167608348,
      "return_pct": 1164.9712167608347,
      "cagr_pct": 41.431457106636195,
      "max_drawdown_pct": 65.30940136080457,
      "mean_exposure_while_solvent": 0.749952372789122,
      "realized_annual_volatility_pct": 45.81453342525382,
      "trading_costs_quote_units": 439.02374813042985,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 116936.14542421365,
      "turnover_quote_units": 731706.246884051,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 209973.15774674216,
      "return_pct": 1999.7315774674216,
      "cagr_pct": 51.56877183467379,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9998128041931861,
      "realized_annual_volatility_pct": 61.19432038086799,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 199979.1541488999,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 262259.1215283849,
      "return_pct": 2522.591215283849,
      "cagr_pct": 56.2431252013291,
      "max_drawdown_pct": 85.51443126503486,
      "mean_exposure_while_solvent": 1.2497052827428738,
      "realized_annual_volatility_pct": 76.66960189572214,
      "trading_costs_quote_units": 1555.4935705456794,
      "borrowing_costs_quote_units": 14120.036231379361,
      "price_pnl_quote_units": 267934.65133031027,
      "turnover_quote_units": 2592489.284242807,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 272881.4756571165,
      "return_pct": 2628.814756571165,
      "cagr_pct": 57.09284356442757,
      "max_drawdown_pct": 91.69013562832667,
      "mean_exposure_while_solvent": 1.4996654744148303,
      "realized_annual_volatility_pct": 92.26668926676908,
      "trading_costs_quote_units": 4404.364479194211,
      "borrowing_costs_quote_units": 32739.54432441794,
      "price_pnl_quote_units": 300025.38446072786,
      "turnover_quote_units": 7340607.465323679,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 169325.21195293803,
      "return_pct": 1593.2521195293803,
      "cagr_pct": 47.17884180588824,
      "max_drawdown_pct": 66.87271534562036,
      "mean_exposure_while_solvent": 0.843998963558265,
      "realized_annual_volatility_pct": 50.273673068613924,
      "trading_costs_quote_units": 2907.0316091274703,
      "borrowing_costs_quote_units": 4340.496668079328,
      "price_pnl_quote_units": 166572.7402301437,
      "turnover_quote_units": 4845052.681879113,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 246953.22676320613,
      "return_pct": 2369.532267632061,
      "cagr_pct": 54.96493663508044,
      "max_drawdown_pct": 81.4166760080061,
      "mean_exposure_while_solvent": 1.1338840961554493,
      "realized_annual_volatility_pct": 64.25993997240958,
      "trading_costs_quote_units": 4266.850127169698,
      "borrowing_costs_quote_units": 25504.684467901312,
      "price_pnl_quote_units": 266724.76135827764,
      "turnover_quote_units": 7111416.878616166,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 217635.83341879834,
      "return_pct": 2076.3583341879835,
      "cagr_pct": 52.31271434299851,
      "max_drawdown_pct": 89.37615150589502,
      "mean_exposure_while_solvent": 1.303826365417408,
      "realized_annual_volatility_pct": 74.17741368051777,
      "trading_costs_quote_units": 3814.0340478219887,
      "borrowing_costs_quote_units": 38817.98718561159,
      "price_pnl_quote_units": 250267.85465223287,
      "turnover_quote_units": 6356723.413036631,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 206226.58627850394,
      "return_pct": 1962.2658627850394,
      "cagr_pct": 51.19646104764952,
      "max_drawdown_pct": 82.05737474065712,
      "mean_exposure_while_solvent": 1.1512746768940345,
      "realized_annual_volatility_pct": 63.42534229150154,
      "trading_costs_quote_units": 6297.286548567305,
      "borrowing_costs_quote_units": 24419.634652031356,
      "price_pnl_quote_units": 226943.5074791016,
      "turnover_quote_units": 10495477.580945507,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2511,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 286845.264321533,
      "return_pct": 2768.4526432153298,
      "cagr_pct": 58.16742860590731,
      "max_drawdown_pct": 78.42675328013274,
      "mean_exposure_while_solvent": 1.1369855513913572,
      "realized_annual_volatility_pct": 65.61905109900674,
      "trading_costs_quote_units": 3084.0577383721698,
      "borrowing_costs_quote_units": 29737.619804022805,
      "price_pnl_quote_units": 309666.9418639291,
      "turnover_quote_units": 5140096.230620288,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1966,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 174153.47554757862,
      "return_pct": 1641.5347554757861,
      "cagr_pct": 47.745192332148285,
      "max_drawdown_pct": 77.16417880852826,
      "mean_exposure_while_solvent": 0.9462341751690058,
      "realized_annual_volatility_pct": 56.63863676885125,
      "trading_costs_quote_units": 700.8631276094754,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 164854.33867518738,
      "turnover_quote_units": 1168105.2126824595,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 774,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 126497.12167608348,
      "return_pct": 1164.9712167608347,
      "cagr_pct": 41.431457106636195,
      "max_drawdown_pct": 65.30940136080457,
      "mean_exposure_while_solvent": 0.749952372789122,
      "realized_annual_volatility_pct": 45.81453342525382,
      "trading_costs_quote_units": 439.02374813042985,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 116936.14542421365,
      "turnover_quote_units": 731706.246884051,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 209973.15774674216,
      "return_pct": 1999.7315774674216,
      "cagr_pct": 51.56877183467379,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9998128041931861,
      "realized_annual_volatility_pct": 61.19432038086799,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 199979.1541488999,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 239334.41466185218,
      "return_pct": 2293.344146618522,
      "cagr_pct": 54.302995017432295,
      "max_drawdown_pct": 85.7016301452596,
      "mean_exposure_while_solvent": 1.2497231143613228,
      "realized_annual_volatility_pct": 76.6710302947964,
      "trading_costs_quote_units": 1470.4530083672423,
      "borrowing_costs_quote_units": 26538.82585275209,
      "price_pnl_quote_units": 257343.69352297194,
      "turnover_quote_units": 2450755.013945406,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 227244.2874013899,
      "return_pct": 2172.442874013899,
      "cagr_pct": 53.21424859233561,
      "max_drawdown_pct": 92.01901021425832,
      "mean_exposure_while_solvent": 1.4997082936949375,
      "realized_annual_volatility_pct": 92.27016113932866,
      "trading_costs_quote_units": 3948.8217095457235,
      "borrowing_costs_quote_units": 57958.53113821965,
      "price_pnl_quote_units": 279151.640249157,
      "turnover_quote_units": 6581369.515909534,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 164154.00149803943,
      "return_pct": 1541.5400149803943,
      "cagr_pct": 46.556584751402156,
      "max_drawdown_pct": 66.90261945896303,
      "mean_exposure_while_solvent": 0.8440053240668388,
      "realized_annual_volatility_pct": 50.2738211400075,
      "trading_costs_quote_units": 2861.951665089724,
      "borrowing_costs_quote_units": 8500.186139217876,
      "price_pnl_quote_units": 165516.13930234645,
      "turnover_quote_units": 4769919.441816205,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 215287.7411872283,
      "return_pct": 2052.877411872283,
      "cagr_pct": 52.08718217891188,
      "max_drawdown_pct": 81.54671996109558,
      "mean_exposure_while_solvent": 1.1339143677292418,
      "realized_annual_volatility_pct": 64.26120692859946,
      "trading_costs_quote_units": 3951.3599632697674,
      "borrowing_costs_quote_units": 46344.45616765398,
      "price_pnl_quote_units": 255583.5573181508,
      "turnover_quote_units": 6585599.938782935,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 172075.1791010762,
      "return_pct": 1620.7517910107622,
      "cagr_pct": 47.50309339548912,
      "max_drawdown_pct": 89.67166176054921,
      "mean_exposure_while_solvent": 1.3038797186536941,
      "realized_annual_volatility_pct": 74.18065575003394,
      "trading_costs_quote_units": 3376.694428618467,
      "borrowing_costs_quote_units": 66266.22581942876,
      "price_pnl_quote_units": 231718.09934912133,
      "turnover_quote_units": 5627824.04769745,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 175683.5169760652,
      "return_pct": 1656.835169760652,
      "cagr_pct": 47.921836362548966,
      "max_drawdown_pct": 82.24603531688534,
      "mean_exposure_while_solvent": 1.1513104626099888,
      "realized_annual_volatility_pct": 63.427321642706104,
      "trading_costs_quote_units": 5771.450377966983,
      "borrowing_costs_quote_units": 43684.46149513327,
      "price_pnl_quote_units": 215139.42884916448,
      "turnover_quote_units": 9619083.963278284,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2511,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 254347.28559820095,
      "return_pct": 2443.4728559820096,
      "cagr_pct": 55.59070120804781,
      "max_drawdown_pct": 78.48926890763315,
      "mean_exposure_while_solvent": 1.1370118162745664,
      "realized_annual_volatility_pct": 65.62012392555896,
      "trading_costs_quote_units": 2873.813840479871,
      "borrowing_costs_quote_units": 54763.38594947601,
      "price_pnl_quote_units": 301984.4853881589,
      "turnover_quote_units": 4789689.734133119,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1966,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 174153.47554757862,
      "return_pct": 1641.5347554757861,
      "cagr_pct": 47.745192332148285,
      "max_drawdown_pct": 77.16417880852826,
      "mean_exposure_while_solvent": 0.9462341751690058,
      "realized_annual_volatility_pct": 56.63863676885125,
      "trading_costs_quote_units": 700.8631276094754,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 164854.33867518738,
      "turnover_quote_units": 1168105.2126824595,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 774,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 126497.12167608348,
      "return_pct": 1164.9712167608347,
      "cagr_pct": 41.431457106636195,
      "max_drawdown_pct": 65.30940136080457,
      "mean_exposure_while_solvent": 0.749952372789122,
      "realized_annual_volatility_pct": 45.81453342525382,
      "trading_costs_quote_units": 439.02374813042985,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 116936.14542421365,
      "turnover_quote_units": 731706.246884051,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 209973.15774674216,
      "return_pct": 1999.7315774674216,
      "cagr_pct": 51.56877183467379,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9998128041931861,
      "realized_annual_volatility_pct": 61.19432038086799,
      "trading_costs_quote_units": 5.996402158704776,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 199979.1541488999,
      "turnover_quote_units": 9994.003597841294,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 199313.20973706277,
      "return_pct": 1893.132097370628,
      "cagr_pct": 50.49384950960656,
      "max_drawdown_pct": 86.21831789858926,
      "mean_exposure_while_solvent": 1.2497587831096268,
      "realized_annual_volatility_pct": 76.67388773027565,
      "trading_costs_quote_units": 1316.5152611775627,
      "borrowing_costs_quote_units": 46947.61428315693,
      "price_pnl_quote_units": 237577.33928139906,
      "turnover_quote_units": 2194192.101962608,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 6,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 157574.54828361206,
      "return_pct": 1475.7454828361206,
      "cagr_pct": 45.739928760736454,
      "max_drawdown_pct": 92.63839323333166,
      "mean_exposure_while_solvent": 1.4997939508995284,
      "realized_annual_volatility_pct": 92.2771070780408,
      "trading_costs_quote_units": 3197.0750251761556,
      "borrowing_costs_quote_units": 91417.09677424032,
      "price_pnl_quote_units": 242188.72008302927,
      "turnover_quote_units": 5328458.375293586,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 150906.25937863011,
      "return_pct": 1409.0625937863012,
      "cagr_pct": 44.88163416160098,
      "max_drawdown_pct": 67.36260259287467,
      "mean_exposure_while_solvent": 0.8441324597366153,
      "realized_annual_volatility_pct": 50.18964958190361,
      "trading_costs_quote_units": 13540.206309160414,
      "borrowing_costs_quote_units": 1979.1272462127636,
      "price_pnl_quote_units": 156425.59293400307,
      "turnover_quote_units": 4513402.10305346,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 233340.41231242503,
      "return_pct": 2233.40412312425,
      "cagr_pct": 53.769308993649624,
      "max_drawdown_pct": 81.7606808735126,
      "mean_exposure_while_solvent": 1.1341589764503537,
      "realized_annual_volatility_pct": 64.14898858831317,
      "trading_costs_quote_units": 20662.23905439282,
      "borrowing_costs_quote_units": 12178.00893716728,
      "price_pnl_quote_units": 256180.66030398506,
      "turnover_quote_units": 6887413.018130951,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 228507.6456601104,
      "return_pct": 2185.076456601104,
      "cagr_pct": 53.330326246281686,
      "max_drawdown_pct": 89.41606489329891,
      "mean_exposure_while_solvent": 1.30406930907267,
      "realized_annual_volatility_pct": 74.05620237127485,
      "trading_costs_quote_units": 19893.435617660187,
      "borrowing_costs_quote_units": 20124.76433239984,
      "price_pnl_quote_units": 258525.84561016952,
      "turnover_quote_units": 6631145.205886744,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 171506.75768321817,
      "return_pct": 1615.0675768321819,
      "cagr_pct": 47.43643891042494,
      "max_drawdown_pct": 82.13534364670669,
      "mean_exposure_while_solvent": 1.1515490969582292,
      "realized_annual_volatility_pct": 63.24033516680583,
      "trading_costs_quote_units": 27356.22688854124,
      "borrowing_costs_quote_units": 10371.978799040571,
      "price_pnl_quote_units": 199234.9633707987,
      "turnover_quote_units": 9118742.296180427,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2504,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 275971.3246647506,
      "return_pct": 2659.713246647506,
      "cagr_pct": 57.3346468937475,
      "max_drawdown_pct": 78.71083387624587,
      "mean_exposure_while_solvent": 1.1371239501892239,
      "realized_annual_volatility_pct": 65.57700759657982,
      "trading_costs_quote_units": 15168.838910980698,
      "borrowing_costs_quote_units": 14360.034180203598,
      "price_pnl_quote_units": 295500.1977559354,
      "turnover_quote_units": 5056279.636993563,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1960,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 172958.23694208445,
      "return_pct": 1629.5823694208443,
      "cagr_pct": 47.60626680906886,
      "max_drawdown_pct": 77.42458900823546,
      "mean_exposure_while_solvent": 0.9463295076056977,
      "realized_annual_volatility_pct": 56.57632744065179,
      "trading_costs_quote_units": 3511.309064371687,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 166469.54600645555,
      "turnover_quote_units": 1170436.3547905607,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 768,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 122929.46237700197,
      "return_pct": 1129.2946237700196,
      "cagr_pct": 40.87981955857854,
      "max_drawdown_pct": 65.56296943286468,
      "mean_exposure_while_solvent": 0.7500122583506229,
      "realized_annual_volatility_pct": 45.753268635015964,
      "trading_costs_quote_units": 2174.6036877331576,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 115104.06606473554,
      "turnover_quote_units": 724867.895911053,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 207709.8313576623,
      "return_pct": 1977.098313576623,
      "cagr_pct": 51.344549518337736,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9999376013977287,
      "realized_annual_volatility_pct": 61.195003143199045,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 197739.74162685522,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 244826.58555499685,
      "return_pct": 2348.265855549969,
      "cagr_pct": 54.781962777606495,
      "max_drawdown_pct": 85.536934702316,
      "mean_exposure_while_solvent": 1.2499082398747015,
      "realized_annual_volatility_pct": 76.82475848860864,
      "trading_costs_quote_units": 7373.491117861506,
      "borrowing_costs_quote_units": 13324.57979184241,
      "price_pnl_quote_units": 255524.6564646992,
      "turnover_quote_units": 2457830.372620502,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.05,
      "ending_quote_units": 234314.34977569594,
      "return_pct": 2243.1434977569593,
      "cagr_pct": 53.856824587732135,
      "max_drawdown_pct": 91.81537931794509,
      "mean_exposure_while_solvent": 1.4999571120610722,
      "realized_annual_volatility_pct": 92.74471932386568,
      "trading_costs_quote_units": 19471.16206681573,
      "borrowing_costs_quote_units": 28873.842503949145,
      "price_pnl_quote_units": 272659.3543464614,
      "turnover_quote_units": 6490387.355605244,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 148583.85852801122,
      "return_pct": 1385.8385852801123,
      "cagr_pct": 44.57501263176572,
      "max_drawdown_pct": 67.37727863161341,
      "mean_exposure_while_solvent": 0.8441356422449751,
      "realized_annual_volatility_pct": 50.18977807214876,
      "trading_costs_quote_units": 13436.417481659397,
      "borrowing_costs_quote_units": 3917.0496883112023,
      "price_pnl_quote_units": 155937.32569798047,
      "turnover_quote_units": 4478805.827219797,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 217862.00464084005,
      "return_pct": 2078.6200464084004,
      "cagr_pct": 52.33432680463941,
      "max_drawdown_pct": 81.82499816215834,
      "mean_exposure_while_solvent": 1.1341741511920207,
      "realized_annual_volatility_pct": 64.14986668222035,
      "trading_costs_quote_units": 19885.003078738842,
      "borrowing_costs_quote_units": 23215.700143178758,
      "price_pnl_quote_units": 250962.7078627589,
      "turnover_quote_units": 6628334.35957962,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 203190.45639426034,
      "return_pct": 1931.9045639426033,
      "cagr_pct": 50.89044089384587,
      "max_drawdown_pct": 89.56424776294533,
      "mean_exposure_while_solvent": 1.3040960745350538,
      "realized_annual_volatility_pct": 74.05820006228167,
      "trading_costs_quote_units": 18705.939484671882,
      "borrowing_costs_quote_units": 37166.25230643083,
      "price_pnl_quote_units": 249062.64818536228,
      "turnover_quote_units": 6235313.161557295,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 158298.2823105711,
      "return_pct": 1482.9828231057113,
      "cagr_pct": 45.83118611096488,
      "max_drawdown_pct": 82.22956725101433,
      "mean_exposure_while_solvent": 1.151567086969712,
      "realized_annual_volatility_pct": 63.24154914881498,
      "trading_costs_quote_units": 26204.110761142652,
      "borrowing_costs_quote_units": 19627.3976233844,
      "price_pnl_quote_units": 194129.79069509663,
      "turnover_quote_units": 8734703.587047542,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2504,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 259871.0897799182,
      "return_pct": 2498.710897799182,
      "cagr_pct": 56.04801507950026,
      "max_drawdown_pct": 78.74183340065447,
      "mean_exposure_while_solvent": 1.1371370951701625,
      "realized_annual_volatility_pct": 65.57774013957065,
      "trading_costs_quote_units": 14642.113558680614,
      "borrowing_costs_quote_units": 27558.19865206136,
      "price_pnl_quote_units": 292071.4019906601,
      "turnover_quote_units": 4880704.519560211,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1960,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 172958.23694208445,
      "return_pct": 1629.5823694208443,
      "cagr_pct": 47.60626680906886,
      "max_drawdown_pct": 77.42458900823546,
      "mean_exposure_while_solvent": 0.9463295076056977,
      "realized_annual_volatility_pct": 56.57632744065179,
      "trading_costs_quote_units": 3511.309064371687,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 166469.54600645555,
      "turnover_quote_units": 1170436.3547905607,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 768,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 122929.46237700197,
      "return_pct": 1129.2946237700196,
      "cagr_pct": 40.87981955857854,
      "max_drawdown_pct": 65.56296943286468,
      "mean_exposure_while_solvent": 0.7500122583506229,
      "realized_annual_volatility_pct": 45.753268635015964,
      "trading_costs_quote_units": 2174.6036877331576,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 115104.06606473554,
      "turnover_quote_units": 724867.895911053,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 207709.8313576623,
      "return_pct": 1977.098313576623,
      "cagr_pct": 51.344549518337736,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9999376013977287,
      "realized_annual_volatility_pct": 61.195003143199045,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 197739.74162685522,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 223423.37351251292,
      "return_pct": 2134.233735125129,
      "cagr_pct": 52.859759065345415,
      "max_drawdown_pct": 85.74605122596451,
      "mean_exposure_while_solvent": 1.249926186908407,
      "realized_annual_volatility_pct": 76.8264405264327,
      "trading_costs_quote_units": 6970.702152457797,
      "borrowing_costs_quote_units": 25048.242659449836,
      "price_pnl_quote_units": 245442.31832441787,
      "turnover_quote_units": 2323567.3841525973,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.1,
      "ending_quote_units": 195120.86564791418,
      "return_pct": 1851.2086564791416,
      "cagr_pct": 50.05746124682151,
      "max_drawdown_pct": 92.1393613624469,
      "mean_exposure_while_solvent": 1.5000002126004097,
      "realized_annual_volatility_pct": 92.74887532875901,
      "trading_costs_quote_units": 17461.85676578748,
      "borrowing_costs_quote_units": 51161.25472311983,
      "price_pnl_quote_units": 253743.9771368196,
      "turnover_quote_units": 5820618.921929169,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 144044.49568595082,
      "return_pct": 1340.4449568595082,
      "cagr_pct": 43.963546464141416,
      "max_drawdown_pct": 67.42523962542187,
      "mean_exposure_while_solvent": 0.8441420083674942,
      "realized_annual_volatility_pct": 50.19004290622967,
      "trading_costs_quote_units": 13232.20577585201,
      "borrowing_costs_quote_units": 7672.0906949408145,
      "price_pnl_quote_units": 154948.79215674414,
      "turnover_quote_units": 4410735.258617334,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 189909.07819296524,
      "return_pct": 1799.0907819296524,
      "cagr_pct": 49.50352553355153,
      "max_drawdown_pct": 81.95298297549212,
      "mean_exposure_while_solvent": 1.1342045067016122,
      "realized_annual_volatility_pct": 64.15164572320775,
      "trading_costs_quote_units": 18439.3236213815,
      "borrowing_costs_quote_units": 42212.38028443824,
      "price_pnl_quote_units": 240560.7820987844,
      "turnover_quote_units": 6146441.2071271725,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 160648.2511731162,
      "return_pct": 1506.482511731162,
      "cagr_pct": 46.12503601997349,
      "max_drawdown_pct": 89.85449181867268,
      "mean_exposure_while_solvent": 1.3041496166523086,
      "realized_annual_volatility_pct": 74.06221643649751,
      "trading_costs_quote_units": 16597.811240183055,
      "borrowing_costs_quote_units": 63531.686461629695,
      "price_pnl_quote_units": 230777.74887492773,
      "turnover_quote_units": 5532603.746727685,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2312,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 134847.58830260197,
      "return_pct": 1248.4758830260198,
      "cagr_pct": 42.67189315093013,
      "max_drawdown_pct": 82.41657340320188,
      "mean_exposure_while_solvent": 1.1516030743634231,
      "realized_annual_volatility_pct": 63.24400267233267,
      "trading_costs_quote_units": 24081.44720361474,
      "borrowing_costs_quote_units": 35176.29180690781,
      "price_pnl_quote_units": 184105.3273131253,
      "turnover_quote_units": 8027149.067871588,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2504,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 230426.2012459897,
      "return_pct": 2204.262012459897,
      "cagr_pct": 53.505548316468165,
      "max_drawdown_pct": 78.80370970652457,
      "mean_exposure_while_solvent": 1.1371633902579006,
      "realized_annual_volatility_pct": 65.57922562477256,
      "trading_costs_quote_units": 13653.941614347437,
      "borrowing_costs_quote_units": 50770.8537816119,
      "price_pnl_quote_units": 284850.99664194795,
      "turnover_quote_units": 4551313.871449142,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1960,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 172958.23694208445,
      "return_pct": 1629.5823694208443,
      "cagr_pct": 47.60626680906886,
      "max_drawdown_pct": 77.42458900823546,
      "mean_exposure_while_solvent": 0.9463295076056977,
      "realized_annual_volatility_pct": 56.57632744065179,
      "trading_costs_quote_units": 3511.309064371687,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 166469.54600645555,
      "turnover_quote_units": 1170436.3547905607,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 768,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 122929.46237700197,
      "return_pct": 1129.2946237700196,
      "cagr_pct": 40.87981955857854,
      "max_drawdown_pct": 65.56296943286468,
      "mean_exposure_while_solvent": 0.7500122583506229,
      "realized_annual_volatility_pct": 45.753268635015964,
      "trading_costs_quote_units": 2174.6036877331576,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 115104.06606473554,
      "turnover_quote_units": 724867.895911053,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 207709.8313576623,
      "return_pct": 1977.098313576623,
      "cagr_pct": 51.344549518337736,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9999376013977287,
      "realized_annual_volatility_pct": 61.195003143199045,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 197739.74162685522,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 186057.7740231927,
      "return_pct": 1760.577740231927,
      "cagr_pct": 49.085692103698456,
      "max_drawdown_pct": 86.30956344199429,
      "mean_exposure_while_solvent": 1.2499620866003334,
      "realized_annual_volatility_pct": 76.829805264545,
      "trading_costs_quote_units": 6241.627626257326,
      "borrowing_costs_quote_units": 44326.926727359714,
      "price_pnl_quote_units": 226626.32837680817,
      "turnover_quote_units": 2080542.5420857733,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 1,
      "borrow_apr": 0.2,
      "ending_quote_units": 135288.9103966545,
      "return_pct": 1252.889103966545,
      "cagr_pct": 42.73558649113314,
      "max_drawdown_pct": 92.74955299891495,
      "mean_exposure_while_solvent": 1.5000864327005698,
      "realized_annual_volatility_pct": 92.75718984130852,
      "trading_costs_quote_units": 14145.703728745504,
      "borrowing_costs_quote_units": 80847.89443404828,
      "price_pnl_quote_units": 220282.50855944658,
      "turnover_quote_units": 4715234.576248509,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2665,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 151571.52898204877,
      "return_pct": 1415.7152898204877,
      "cagr_pct": 44.96871740622106,
      "max_drawdown_pct": 67.35473272955919,
      "mean_exposure_while_solvent": 0.8439957838565223,
      "realized_annual_volatility_pct": 50.27918810061579,
      "trading_costs_quote_units": 13409.442686836997,
      "borrowing_costs_quote_units": 1972.5405671150706,
      "price_pnl_quote_units": 156953.51223600245,
      "turnover_quote_units": 4469814.2289456725,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 233578.7817587451,
      "return_pct": 2235.787817587451,
      "cagr_pct": 53.79075738547934,
      "max_drawdown_pct": 81.65865484407433,
      "mean_exposure_while_solvent": 1.1338689633674524,
      "realized_annual_volatility_pct": 64.26236146644236,
      "trading_costs_quote_units": 20307.54284497347,
      "borrowing_costs_quote_units": 12080.484464370973,
      "price_pnl_quote_units": 255966.8090680898,
      "turnover_quote_units": 6769180.948324488,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 218141.3042641335,
      "return_pct": 2081.413042641335,
      "cagr_pct": 52.36098939208218,
      "max_drawdown_pct": 89.44724082675334,
      "mean_exposure_while_solvent": 1.3037996943474854,
      "realized_annual_volatility_pct": 74.17944106426204,
      "trading_costs_quote_units": 18777.20193261061,
      "borrowing_costs_quote_units": 19168.852744787335,
      "price_pnl_quote_units": 246087.35894152962,
      "turnover_quote_units": 6259067.310870213,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 178926.38834488837,
      "return_pct": 1689.263883448884,
      "cagr_pct": 48.29187902398524,
      "max_drawdown_pct": 82.52884923776055,
      "mean_exposure_while_solvent": 1.151256787658518,
      "realized_annual_volatility_pct": 63.42522423356881,
      "trading_costs_quote_units": 28191.047139355698,
      "borrowing_costs_quote_units": 10759.34660695601,
      "price_pnl_quote_units": 207876.7820911981,
      "turnover_quote_units": 9397015.713118576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2511,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 283334.44809476857,
      "return_pct": 2733.3444809476855,
      "cagr_pct": 57.90157685560284,
      "max_drawdown_pct": 78.59279353129095,
      "mean_exposure_while_solvent": 1.1369724215065766,
      "realized_annual_volatility_pct": 65.62072712391456,
      "trading_costs_quote_units": 15153.884653681109,
      "borrowing_costs_quote_units": 14611.338769540944,
      "price_pnl_quote_units": 303099.67151799024,
      "turnover_quote_units": 5051294.884560355,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1966,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 167421.13340732615,
      "return_pct": 1574.2113340732615,
      "cagr_pct": 46.951655338262064,
      "max_drawdown_pct": 77.34874565493769,
      "mean_exposure_while_solvent": 0.9462341751690058,
      "realized_annual_volatility_pct": 56.641493451924816,
      "trading_costs_quote_units": 3417.664120477669,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 160838.7975278037,
      "turnover_quote_units": 1139221.373492557,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 774,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 123089.85654652653,
      "return_pct": 1130.8985654652652,
      "cagr_pct": 40.90491488094949,
      "max_drawdown_pct": 65.45770190119838,
      "mean_exposure_while_solvent": 0.749952372789122,
      "realized_annual_volatility_pct": 45.81542592496476,
      "trading_costs_quote_units": 2155.686360936395,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 115245.54290746279,
      "turnover_quote_units": 718562.1203121339,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 209470.72945303112,
      "return_pct": 1994.7072945303112,
      "cagr_pct": 51.51917830894233,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9998128041931861,
      "realized_annual_volatility_pct": 61.194426720100026,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 199500.63972222555,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 250574.5910511897,
      "return_pct": 2405.745910511897,
      "cagr_pct": 55.27340720645111,
      "max_drawdown_pct": 85.61860331153869,
      "mean_exposure_while_solvent": 1.2497052827428738,
      "realized_annual_volatility_pct": 76.67174003021245,
      "trading_costs_quote_units": 7538.953764474138,
      "borrowing_costs_quote_units": 13649.572320113057,
      "price_pnl_quote_units": 261763.11713577717,
      "turnover_quote_units": 2512984.5881580464,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.05,
      "ending_quote_units": 245439.01988827978,
      "return_pct": 2354.390198882798,
      "cagr_pct": 54.83479619178182,
      "max_drawdown_pct": 91.92723892266457,
      "mean_exposure_while_solvent": 1.4996654744148303,
      "realized_annual_volatility_pct": 92.27254659733686,
      "trading_costs_quote_units": 20540.843380688028,
      "borrowing_costs_quote_units": 30323.28959859141,
      "price_pnl_quote_units": 286303.15286755795,
      "turnover_quote_units": 6846947.793562674,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 149239.5057924707,
      "return_pct": 1392.395057924707,
      "cagr_pct": 44.66199313685907,
      "max_drawdown_pct": 67.36946484717228,
      "mean_exposure_while_solvent": 0.843998963558265,
      "realized_annual_volatility_pct": 50.279259638321264,
      "trading_costs_quote_units": 13306.516496252081,
      "borrowing_costs_quote_units": 3903.934538424362,
      "price_pnl_quote_units": 156449.95682714786,
      "turnover_quote_units": 4435505.498750696,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 218093.53885725111,
      "return_pct": 2080.9353885725113,
      "cagr_pct": 52.356431686071694,
      "max_drawdown_pct": 81.72294586961863,
      "mean_exposure_while_solvent": 1.1338840961554493,
      "realized_annual_volatility_pct": 64.26299285162457,
      "trading_costs_quote_units": 19541.790422372967,
      "borrowing_costs_quote_units": 23028.793740328638,
      "price_pnl_quote_units": 250664.12301995367,
      "turnover_quote_units": 6513930.140790981,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 193975.25583547645,
      "return_pct": 1839.7525583547645,
      "cagr_pct": 49.936804975454294,
      "max_drawdown_pct": 89.5950393621326,
      "mean_exposure_while_solvent": 1.303826365417408,
      "realized_annual_volatility_pct": 74.18107264264785,
      "trading_costs_quote_units": 17653.48453351263,
      "borrowing_costs_quote_units": 35398.65956044739,
      "price_pnl_quote_units": 237027.39992943354,
      "turnover_quote_units": 5884494.8445042055,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 165147.88508661068,
      "return_pct": 1551.4788508661065,
      "cagr_pct": 46.67748102318129,
      "max_drawdown_pct": 82.62096152114789,
      "mean_exposure_while_solvent": 1.1512746768940345,
      "realized_annual_volatility_pct": 63.42621388294215,
      "trading_costs_quote_units": 26999.086313360505,
      "borrowing_costs_quote_units": 20354.89397390426,
      "price_pnl_quote_units": 202501.86537387586,
      "turnover_quote_units": 8999695.437786814,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2511,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 266808.3756942573,
      "return_pct": 2568.0837569425735,
      "cagr_pct": 56.6106078657457,
      "max_drawdown_pct": 78.62381636764397,
      "mean_exposure_while_solvent": 1.1369855513913572,
      "realized_annual_volatility_pct": 65.62126302755733,
      "trading_costs_quote_units": 14625.746283854294,
      "borrowing_costs_quote_units": 28038.61297151194,
      "price_pnl_quote_units": 299472.7349496235,
      "turnover_quote_units": 4875248.761284766,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1966,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 167421.13340732615,
      "return_pct": 1574.2113340732615,
      "cagr_pct": 46.951655338262064,
      "max_drawdown_pct": 77.34874565493769,
      "mean_exposure_while_solvent": 0.9462341751690058,
      "realized_annual_volatility_pct": 56.641493451924816,
      "trading_costs_quote_units": 3417.664120477669,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 160838.7975278037,
      "turnover_quote_units": 1139221.373492557,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 774,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 123089.85654652653,
      "return_pct": 1130.8985654652652,
      "cagr_pct": 40.90491488094949,
      "max_drawdown_pct": 65.45770190119838,
      "mean_exposure_while_solvent": 0.749952372789122,
      "realized_annual_volatility_pct": 45.81542592496476,
      "trading_costs_quote_units": 2155.686360936395,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 115245.54290746279,
      "turnover_quote_units": 718562.1203121339,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 209470.72945303112,
      "return_pct": 1994.7072945303112,
      "cagr_pct": 51.51917830894233,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9998128041931861,
      "realized_annual_volatility_pct": 61.194426720100026,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 199500.63972222555,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 228671.33382326717,
      "return_pct": 2186.7133382326715,
      "cagr_pct": 53.34532538175849,
      "max_drawdown_pct": 85.82249555509891,
      "mean_exposure_while_solvent": 1.2497231143613228,
      "realized_annual_volatility_pct": 76.67318725126549,
      "trading_costs_quote_units": 7128.827241693418,
      "borrowing_costs_quote_units": 25660.490659266223,
      "price_pnl_quote_units": 251460.6517242281,
      "turnover_quote_units": 2376275.747231136,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.1,
      "ending_quote_units": 204389.94436046717,
      "return_pct": 1943.8994436046717,
      "cagr_pct": 51.01180941923778,
      "max_drawdown_pct": 92.24688669903439,
      "mean_exposure_while_solvent": 1.4997082936949375,
      "realized_annual_volatility_pct": 92.27606475370496,
      "trading_costs_quote_units": 18440.383445155785,
      "borrowing_costs_quote_units": 53743.40988276543,
      "price_pnl_quote_units": 266573.7376883878,
      "turnover_quote_units": 6146794.4817186,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol40_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 144681.47764168927,
      "return_pct": 1346.8147764168928,
      "cagr_pct": 44.05034477898349,
      "max_drawdown_pct": 67.39891576764978,
      "mean_exposure_while_solvent": 0.8440053240668388,
      "realized_annual_volatility_pct": 50.27941057339477,
      "trading_costs_quote_units": 13103.95628340301,
      "borrowing_costs_quote_units": 7646.099553913719,
      "price_pnl_quote_units": 155431.53347900612,
      "turnover_quote_units": 4367985.42780101,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 190127.1074380623,
      "return_pct": 1801.2710743806228,
      "cagr_pct": 49.526960331062,
      "max_drawdown_pct": 81.85089555576894,
      "mean_exposure_while_solvent": 1.1339143677292418,
      "realized_annual_volatility_pct": 64.26427855996731,
      "trading_costs_quote_units": 18117.42559700264,
      "borrowing_costs_quote_units": 41868.825997474,
      "price_pnl_quote_units": 240113.35903253802,
      "turnover_quote_units": 6039141.865667542,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol80_30d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 153367.06665600944,
      "return_pct": 1433.6706665600946,
      "cagr_pct": 45.202115174423604,
      "max_drawdown_pct": 89.88453623127704,
      "mean_exposure_while_solvent": 1.3038797186536941,
      "realized_annual_volatility_pct": 74.18435704428208,
      "trading_costs_quote_units": 15659.547135650973,
      "borrowing_costs_quote_units": 60502.4892823259,
      "price_pnl_quote_units": 219529.1030739852,
      "turnover_quote_units": 5219849.04521698,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2319,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_14d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 140685.48734690473,
      "return_pct": 1306.8548734690473,
      "cagr_pct": 43.500273734221615,
      "max_drawdown_pct": 82.8037880202569,
      "mean_exposure_while_solvent": 1.1513104626099888,
      "realized_annual_volatility_pct": 63.4282186652425,
      "trading_costs_quote_units": 24803.315158218356,
      "borrowing_costs_quote_units": 36459.79187745277,
      "price_pnl_quote_units": 191948.5943825752,
      "turnover_quote_units": 8267771.719406123,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2511,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_60d",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 236583.46718493948,
      "return_pct": 2265.834671849395,
      "cagr_pct": 54.059509867661745,
      "max_drawdown_pct": 78.68573985260548,
      "mean_exposure_while_solvent": 1.1370118162745664,
      "realized_annual_volatility_pct": 65.62235516706934,
      "trading_costs_quote_units": 13636.009116173309,
      "borrowing_costs_quote_units": 51648.783416560764,
      "price_pnl_quote_units": 291868.2597176743,
      "turnover_quote_units": 4545336.372057767,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1966,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "vol60_30d_cap1",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 167421.13340732615,
      "return_pct": 1574.2113340732615,
      "cagr_pct": 46.951655338262064,
      "max_drawdown_pct": 77.34874565493769,
      "mean_exposure_while_solvent": 0.9462341751690058,
      "realized_annual_volatility_pct": 56.641493451924816,
      "trading_costs_quote_units": 3417.664120477669,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 160838.7975278037,
      "turnover_quote_units": 1139221.373492557,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 774,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_075",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 123089.85654652653,
      "return_pct": 1130.8985654652652,
      "cagr_pct": 40.90491488094949,
      "max_drawdown_pct": 65.45770190119838,
      "mean_exposure_while_solvent": 0.749952372789122,
      "realized_annual_volatility_pct": 45.81542592496476,
      "trading_costs_quote_units": 2155.686360936395,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 115245.54290746279,
      "turnover_quote_units": 718562.1203121339,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "btc_buy_hold",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 209470.72945303112,
      "return_pct": 1994.7072945303112,
      "cagr_pct": 51.51917830894233,
      "max_drawdown_pct": 77.04339319608702,
      "mean_exposure_while_solvent": 0.9998128041931861,
      "realized_annual_volatility_pct": 61.194426720100026,
      "trading_costs_quote_units": 29.910269192422735,
      "borrowing_costs_quote_units": 0.0,
      "price_pnl_quote_units": 199500.63972222555,
      "turnover_quote_units": 9970.089730807576,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 1,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_125",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 190432.506679887,
      "return_pct": 1804.32506679887,
      "cagr_pct": 49.55974707970398,
      "max_drawdown_pct": 86.38309212527591,
      "mean_exposure_while_solvent": 1.2497587831096268,
      "realized_annual_volatility_pct": 76.67608240060434,
      "trading_costs_quote_units": 6386.191395160755,
      "borrowing_costs_quote_units": 45415.155746696946,
      "price_pnl_quote_units": 232233.85382174596,
      "turnover_quote_units": 2128730.46505358,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    },
    {
      "source": "binance",
      "quote_currency": "USDT",
      "window": "2019_frozen_end",
      "model": "constant_150",
      "cost_bps": 30,
      "delay_bars": 3,
      "borrow_apr": 0.2,
      "ending_quote_units": 141723.58903356985,
      "return_pct": 1317.2358903356985,
      "cagr_pct": 43.64445867751829,
      "max_drawdown_pct": 92.84888401146516,
      "mean_exposure_while_solvent": 1.4997939508995284,
      "realized_annual_volatility_pct": 92.28310345620571,
      "trading_costs_quote_units": 14969.090673386934,
      "borrowing_costs_quote_units": 84973.48756701377,
      "price_pnl_quote_units": 231666.16727397032,
      "turnover_quote_units": 4989696.891128969,
      "liquidation_slippage_quote_units": 0.0,
      "liquidation_penalty_quote_units": 0.0,
      "liquidations": [],
      "liquidation_count": 0,
      "fill_count": 2672,
      "insolvent": false,
      "stopped_at_unix": null,
      "ending_debt_shortfall_quote_units": 0,
      "observed_price_gaps": 13
    }
  ]
}
