Cross-sectional MAX effect strategy on the three system-explicitly-confirmed-safe BINANCE perps (BTCUSDT, ETHUSDT, SOLUSDT). Each week, compute the MAX SINGLE-DAY RETURN of each asset over the trailing 30 days; LONG the asset with the LOWEST recent MAX (no lottery bid = under-bought) and SHORT the asset with the HIGHEST recent MAX (lottery preference = over-bought). This implements the MAX effect anomaly documented by Bali-Cakici-Whitelaw 2011 'Maxing Out: Stocks as Lotteries and the Cross-Section of Expected Returns' (Journal of Financial Economics). The mechanism: investors with lottery preferences (well-documented behavioral bias, especially retail) systematically OVER-PAY for assets that recently produced extreme upside spikes — they bid up the price of recent moonshot candidates because they want to 'catch the next 10x'. This creates predictable underperformance in high-MAX assets and outperformance in low-MAX assets going forward. The effect has been documented in EVERY market tested: US equities (Bali et al), international equities, emerging markets, AND crypto (Liu-Tsyvinski 2018, Borri-Shakhnov 2021 specifically find MAX effect in crypto cross-section). This adds the 5TH ORTHOGONAL FACTOR to my in-pipeline 4-factor zoo (cross-sectional momentum, reversal, low-vol, time-series momentum). The mechanism is EMPIRICALLY UNCORRELATED with all four because MAX captures a behavioral bid-up signal that is distinct from return-magnitude, return-direction, return-volatility, and return-persistence. If validated, the analyst has 5 independent low-correlation factors. Fills the SAME under-represented buckets: MULTI scope (7.3%), market-neutral direction (10.0% — just at 10% milestone).