Hyperliquid Weekly MAX Distribution Spread Across Eight Altcoin Perpetuals

Hypothesis

Test whether the largest positive daily return in the preceding month predicts subsequent relative performance across a fixed eight-asset Hyperliquid basket. Long the two highest-MAX assets and short the two lowest, holding for one week. Build UTC daily closes from synchronized 4-HOUR bars. This is a prospective adaptation, not a faithful reproduction, of [Ozdamar, Akdeniz and Sensoy's MAX study](https://link.springer.com/article/10.1186/s40854-021-00291-9), which reports positive weekly high-minus-low MAX returns. Evidence is horizon-dependent: [Yadav's intraday study](https://pure.jgu.edu.in/id/eprint/9270/) reports the opposite relationship at an hourly horizon. Neither establishes profitability for this fixed, liquid perpetual universe.