Opens the way the mark should move to close the gap, fills at the stale mark, and holds until the feeder publishes its next mark (however many slots that takes), exiting at that new mark. Both columns pay Cardboard's real fees: the 0.5 bp round-trip fee on notional (5% of margin at 1000×, win or loss), the 0.2 bp win deadband and the 2% win fee. Ideal = perfect fill; Real = fill one slot late + path-aware liquidation (bust at 1e4/lev − 5 bps). Wins shown at full notional (best case). Places no orders.

Each row is one slot: the published feeder mark vs the market (live recompute of the source median), and their gap. lagging only hides in-sync slots and keeps each lag plus the ● caught up slot where the crank landed.