This is powerful. Really, really, REALLY powerful. Especially in multiples. Or fractalled. Fractal this, play them, then play one permanent and boom, no more creatures for your opponent. If it was a 0/1 and cost like 9 gravity to play, it would still be overpowered :p It turns every permanent you draw into an almost-Rewind. (except the card goes to hand instead of deck)
I have absolutely no idea how to balance this without ruining the concept. Maybe you could make a spell that returned a creature or permanent to its owner's hand. That way, it would have the 'return permanent to hand' that Rewind does not, but it would put the card in the opponent's hand, which is less harmful than putting it on top of their deck. Thus, it would be more versatile, but less powerful, than rewind. If you did something like that, I'd probably cost it at 4 unupped, 3 upped.
