The system can utilize a standard high speed FPGA interface for a non-traditional use to facilitate the processing of high amounts of streaming digital data or the method can be implemented in other high speed data transfer systems. This system and method include the use of training/calibration pattern techniques implemented in a FPGA, or other system, to calibrate numerous multi-arm demultiplexers. The training/calibration sequence data rate being slower than the input data rate. In one example, the system and method utilized a mono-bit receiver capable of digitizing signals of at least 40 GHz with at least 20 GHz of instantaneous bandwidth.