Teferi's Protection, and Spellbinder

Prerequisites

• Teferi's Protection in exile
• Spellbinder on the battlefield
• Spellbinder attached to a creature that can attack this turn and that cannot be blocked and killed by an opponent

Steps

1. Deal combat damage to an opponent using the creature that has Spellbinder attached
2. Spellbinder triggers, casting a copy of Teferi's Protection without paying its mana cost
3. Resolve the copy of Teferi's Protection, phasing out all permanents you control and causing you to have protection from everything and preventing your life total from changing until your next turn
4. Repeat during each of your turns

Results

• Permanents you control phase out during your opponents' turns
• You have protection from everything during your opponents' turns
• Your life total can't change during your opponents' turns