Fees
equivalent bps of trading fees + rebates + funding
Timing
misalignment(signal+order send+fill)as equivalent bps
Micro
Aggregate delta from other frictions
The horizontal line is the fixed expectation (baseline).Mirrored histograms show the distribution of actual equivalent bps.
Values are aggregate contributions, not per-trade attribution,and are de-identified approximations for visualization.
Rounding & Winsorization are enabled.(cap at P99; values < 0.05 bps display as 0.0)
