Deep neural networks have become a promising approach for IMU-based sensing, but their scalability is fundamentally limited by costly labeled data and poor robustness to heterogeneous devices, placements, and users. Existing unsupervised and self-supervised methods reduce but do not remove this dependence, still requiring labeled data for domain adaptation and largely ignoring known physical structure. We propose physical self-supervised learning, an autoencoder-style paradigm for label-free IMU sensing. We replace the conventional neural decoder with an auto-adaptive physics decoder—a learnable family of kinematic equations that enforces explicit physical structure while adapting across environments—and adopt a hybrid two-stage IMU encoder with reconstruction in a structured latent space to mitigate sensor noise. Our framework further introduces probabilistic frequency-spatial constraints to disentangle sensor and object motion, a multi-view kinematic tree to exploit sparse physical self-supervised signals, and an uncertainty-aware formulation to handle the inherent ambiguity of IMU inference. Evaluated on inertial tracking and full-body motion capture over public datasets and realistic deployments, physical self-supervised learning reduces errors by up to 5× for tracking and 4× for motion capture in challenging generalization scenarios, consistently outperforming state-of-the-art supervised and self-supervised baselines without any labels.