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"max_drawdown_bps_of_turnover": 3.963742, "unliquidated_quantity": 0.0, "valuation": "none" }, { "scenario_id": "ETHUSDT::replication_test::event_20::d1::o1", "symbol": "ETHUSDT", "phase": "replication_test", "endpoint": "event_20", "decision_latency_events": 1, "order_latency_events": 1, "orders": 32364, "fills": 1039, "forced_liquidation_fills": 1, "fill_ratio_requested": 0.031371, "gross_pnl_usdt": 0.203841, "fees_usdt": 40.939691, "net_pnl_usdt": -40.73585, "turnover_usdt": 102349.227415, "gross_edge_bps": 0.019916, "fee_edge_bps": 4.0, "net_edge_bps": -3.980084, "max_drawdown_usdt": 40.73585, "max_drawdown_bps_of_turnover": 3.980084, "unliquidated_quantity": 0.0, "valuation": "none" }, { "scenario_id": "ETHUSDT::replication_test::event_20::d1::o5", "symbol": "ETHUSDT", "phase": "replication_test", "endpoint": "event_20", "decision_latency_events": 1, "order_latency_events": 5, "orders": 32364, "fills": 1042, "forced_liquidation_fills": 1, "fill_ratio_requested": 0.03169, 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"ETHUSDT", "phase": "replication_test", "endpoint": "event_20", "decision_latency_events": 5, "order_latency_events": 1, "orders": 32364, "fills": 1042, "forced_liquidation_fills": 1, "fill_ratio_requested": 0.03169, "gross_pnl_usdt": -0.051049, "fees_usdt": 41.352688, "net_pnl_usdt": -41.403737, "turnover_usdt": 103381.718975, "gross_edge_bps": -0.004938, "fee_edge_bps": 4.0, "net_edge_bps": -4.004938, "max_drawdown_usdt": 41.403737, "max_drawdown_bps_of_turnover": 4.004938, "unliquidated_quantity": 0.0, "valuation": "none" }, { "scenario_id": "ETHUSDT::replication_test::event_20::d5::o5", "symbol": "ETHUSDT", "phase": "replication_test", "endpoint": "event_20", "decision_latency_events": 5, "order_latency_events": 5, "orders": 32364, "fills": 1044, "forced_liquidation_fills": 1, "fill_ratio_requested": 0.031933, "gross_pnl_usdt": -0.250272, "fees_usdt": 41.666224, "net_pnl_usdt": -41.916496, "turnover_usdt": 104165.561172, "gross_edge_bps": -0.024026, "fee_edge_bps": 4.0, "net_edge_bps": -4.024026, "max_drawdown_usdt": 41.916496, "max_drawdown_bps_of_turnover": 4.024026, "unliquidated_quantity": 0.0, "valuation": "none" } ], "provenance": { "source_commit": "b918673405226467d6e5c2fa1f2fac59cca19d03", "source_dirty": false, "scenario_metrics_sha256": "616857603433071ac415e3ec0994ad48473685433f4daae6ac08a88bc9b3ea87", "summary_sha256": "92fff91f776e662ab31291184f03db6ff316fe93ccc92f6b37064abc61e4fe7e", "report_sha256": "c132aba24131778e1ff030f4a0a2cb6ba08a717cdefc9dd82e968a3afa557050", "manifest_sha256": "9c5d29eee03a5eee39a01c84dc7052f332999bdb4a0e382b9c7bebe8653a67ae", "checksums_sha256": "96d60369af78449e325cf94ee20e4b6ec62aa47accbe3ff5250114fe65a42811", "verified_files": 476, "failed_files": 0 }, "claim_boundary": { "capacity": false, "confirmatory_evidence": false, "cross_day_replication": false, "p_values": false, "procedural_fit_after_lock": false, "profitability": false, "prospective_untouched_test": false, "realized_execution": false, "significance": false }, "disclaimer": "Research reference only. This is a deterministic market-order simulation from one four-hour nonconfirmatory L2 pilot, not live trading. The adjacent pseudo-heldout phases are not prospectively untouched or cross-day replication. The 144 scenarios reuse overlapping data and must not be summed. Drawdown is marked net equity from zero initial capital and normalized by turnover; it is not account return or capital-based drawdown." }