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Large Language ModelsAI Stocks & MarketsQiita 機械学習Published: Nov 4, 2026, 22:01 JST

Claude Opus 5.5 tops paper-trading test at -0.0078%

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Claude Opus 5.5 tops paper-trading test at -0.0078%

3 Key Points

  1. What happened

    In Crazyrouter's paper-trading experiment, 12 configured model routes each started with $10,000 and made one simulated BTC, ETH, and SOL spot decision per five-minute UTC round, with no shorting or leverage. At the November 4 snapshot, Claude Opus 5.5 and Gemini 4 Argon tied for first at $9,999.22, a -0.0078% return, with only 5 completed rounds and 23 simulated trades.

  2. Why it matters

    All 12 accounts were slightly below their starting $10,000, so the ranking reflects small fee and price effects over a very short window rather than proven trading skill. With only 5 completed rounds, price moves, cash levels, fees, and failed requests can shift the order, and holding cash can put a model on top in a falling market.

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Context & Analysis

The experiment is structured as a controlled comparison: every route sees the same market-price snapshot and the same fill rules, while each model receives only its own portfolio and recent decisions. That design makes account values comparable within the test, but a caveat applies: chat models return an action plus a short reason, while Jev 1.14 uses a structured Decisions API that displays a distribution across choices, so differences in the decision interface remain a limit on comparison. Execution is simulated against Coinbase Exchange public data, buying at the best ask and selling at the best bid, with no market impact, partial fills, queue position, or extra latency slippage reproduced.

The snapshot itself is modest. With 5 completed rounds and 23 simulated trades, the spread between first and last was narrow: Grok 4.6 sat last at $9,996.17, a -0.0383% return. The order shown follows the API response, and models with identical account values are effectively tied. Leading at one moment only means the account value was higher at that point in the simulation, not that the model has general capability, and earlier and later captures showed a different model in first place.

A real answer would require observing multiple market phases and comparing drawdown, exposure, fees, failures, and consistency alongside returns. It notes that similar efforts exist, such as Nof1's market research, the TradingAgents multi-agent framework, and the FinRobot financial agent platform, but their differing goals and execution methods mean their results cannot be placed directly into this ranking.

FAQ
What exactly are the models trading?
They simulate spot positions in BTC-USD, ETH-USD, and SOL-USD, with buys capped at 25% of account equity and a 0.1% fee per fill. No short selling or leverage is allowed.
How much did the top model return at the snapshot?
Claude Opus 5.5 and Gemini 4 Argon each showed an account value of $9,999.22, a cumulative return of -0.0078% from the $10,000 starting balance.
Does a model's stated confidence mean it will profit?
No. The confidence figure is a self-reported output from the model's decision interface and is not calibrated as a probability of profit.
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