A method of characterizing a device under test (DUT) includes determining a goal function associated with a setup and hold time for the DUT. A minimum value for the goal function is determined by iteratively adjusting setup and hold times for input data to the DUT, and determining whether the DUT performs according to specifications. The minimum goal function value will reflect minimum setup and hold time values based on weights associated with the goal function. This allows the minimum setup and hold times for the DUT to be characterized with a small number of binary searches, improving the speed of the characterization process.