{
  "metadata": {
    "generated_at_utc": "2026-05-31T01:56:10.679Z",
    "generated_at_ct": "05/30/2026, 20:56:10",
    "chain_id": 8453,
    "token_a": "weth",
    "token_b": "aero",
    "active_flags": {
      "width_buckets": 5,
      "rerange_buckets": 5,
      "min_sample": 8,
      "cohort_mode": "close_month",
      "include_open_appendix": true
    },
    "formulas": {
      "open_mark_to_market_pnl_usdc_net": "withdrawn_usdc_net_to_owner_total + current_value_usdc - deposited_usdc_gross_total",
      "pnl_pct_on_deposit": "pnl_usdc_net / deposited_usdc_gross_total",
      "pnl_pct_on_principal_snapshot": "pnl_usdc_net / principal_usdc_snapshot",
      "fee_drag_pct_on_deposit": "(protocol_fee_paid_usdc_total + bot_fee_paid_usdc_total) / deposited_usdc_gross_total",
      "current_value_multiple": "current_value_usdc / deposited_usdc_gross_total",
      "log_deposit_usdc": "ln(1 + deposited_usdc_gross_total)",
      "reranges_per_30d": "rerange_count * 30 / duration_days"
    },
    "bucket_boundaries": {
      "width": {
        "field": "avg_total_width_ticks",
        "kind": "width",
        "bucketCount": 5,
        "boundaries": [
          {
            "index": 0,
            "label": "Q1_narrowest",
            "lower": 533.3333333333334,
            "upper": 1200
          },
          {
            "index": 1,
            "label": "Q2_narrower",
            "lower": 1200,
            "upper": 1733.3333333333333
          },
          {
            "index": 2,
            "label": "Q3_middle",
            "lower": 1733.3333333333333,
            "upper": 1885.7142857142858
          },
          {
            "index": 3,
            "label": "Q4_wider",
            "lower": 1885.7142857142858,
            "upper": 2400
          },
          {
            "index": 4,
            "label": "Q5_widest",
            "lower": 2400,
            "upper": 10600
          }
        ],
        "labels": [
          "Q1_narrowest",
          "Q2_narrower",
          "Q3_middle",
          "Q4_wider",
          "Q5_widest"
        ]
      },
      "rerange": {
        "field": "reranges_per_30d",
        "kind": "rerange",
        "bucketCount": 3,
        "boundaries": [
          {
            "index": 0,
            "label": "Q1_lower",
            "lower": 0,
            "upper": 0
          },
          {
            "index": 1,
            "label": "Q2_middle",
            "lower": 0,
            "upper": 4.597611441525016
          },
          {
            "index": 2,
            "label": "Q3_upper",
            "lower": 4.597611441525016,
            "upper": 194.23975220443134
          }
        ],
        "labels": [
          "Q1_lower",
          "Q2_middle",
          "Q3_upper"
        ]
      },
      "duration": {
        "field": "duration_days",
        "kind": "duration",
        "bucketCount": 4,
        "boundaries": [
          {
            "index": 0,
            "label": "Q1_lowest",
            "lower": 0.0012962962962962963,
            "upper": 0.9266898148148148
          },
          {
            "index": 1,
            "label": "Q2_lower_mid",
            "lower": 0.9266898148148148,
            "upper": 4.25537037037037
          },
          {
            "index": 2,
            "label": "Q3_upper_mid",
            "lower": 4.25537037037037,
            "upper": 11.077638888888888
          },
          {
            "index": 3,
            "label": "Q4_highest",
            "lower": 11.077638888888888,
            "upper": 45.60731481481481
          }
        ],
        "labels": [
          "Q1_lowest",
          "Q2_lower_mid",
          "Q3_upper_mid",
          "Q4_highest"
        ]
      },
      "deposit": {
        "field": "log_deposit_usdc",
        "kind": "deposit",
        "bucketCount": 4,
        "boundaries": [
          {
            "index": 0,
            "label": "Q1_lowest",
            "lower": 0.6931471805599453,
            "upper": 2.3978952727983707
          },
          {
            "index": 1,
            "label": "Q2_lower_mid",
            "lower": 2.3978952727983707,
            "upper": 4.709530201312334
          },
          {
            "index": 2,
            "label": "Q3_upper_mid",
            "lower": 4.709530201312334,
            "upper": 7.313886831633462
          },
          {
            "index": 3,
            "label": "Q4_highest",
            "lower": 7.313886831633462,
            "upper": 9.75272280064639
          }
        ],
        "labels": [
          "Q1_lowest",
          "Q2_lower_mid",
          "Q3_upper_mid",
          "Q4_highest"
        ]
      }
    },
    "excluded_counts": {
      "regression_pnl_usdc_net": {
        "null_required_fields": 0,
        "small_dex_group": 6,
        "small_cohort_group": 0
      },
      "regression_pnl_pct_on_deposit": {
        "null_required_fields": 0,
        "small_dex_group": 6,
        "small_cohort_group": 0
      }
    }
  },
  "headline_findings": {
    "closed_core_row_count": 29,
    "widest_vs_narrowest_median_pnl_usdc": {
      "narrowest_bucket": "Q1_narrowest",
      "narrowest_median_pnl_usdc": -2.070335,
      "widest_bucket": "Q5_widest",
      "widest_median_pnl_usdc": -5.493448,
      "delta": -3.423113
    },
    "widest_vs_narrowest_median_return_pct": {
      "narrowest_bucket": "Q1_narrowest",
      "narrowest_median_pnl_pct_on_deposit": -0.021484403846153848,
      "widest_bucket": "Q5_widest",
      "widest_median_pnl_pct_on_deposit": -0.014919034666666666,
      "delta": 0.006565369179487182
    },
    "least_vs_most_active_median_pnl_usdc": {
      "least_active_bucket": "Q1_lower",
      "least_active_median_pnl_usdc": -0.0125,
      "most_active_bucket": "Q3_upper",
      "most_active_median_pnl_usdc": -4.082859,
      "delta": 4.070359
    },
    "pairwise_correlations": {
      "avg_total_width_ticks__vs__pnl_usdc_net": {
        "pearson": -0.048812489757935035,
        "spearman": -0.22244324960823206
      },
      "avg_total_width_ticks__vs__pnl_pct_on_deposit": {
        "pearson": -0.03583251717610331,
        "spearman": -0.14063356558564893
      },
      "reranges_per_30d__vs__pnl_usdc_net": {
        "pearson": 0.010947343852582425,
        "spearman": -0.0801594335460452
      },
      "reranges_per_30d__vs__pnl_pct_on_deposit": {
        "pearson": -0.01173899529950736,
        "spearman": -0.16264232893400474
      }
    }
  },
  "summary": {
    "row_count": 29,
    "open_count": 0,
    "closed_count": 29,
    "metrics": {
      "pnl_usdc_net": {
        "count": 29,
        "mean": -13.411063689655181,
        "median": -0.057811,
        "min": -869.002457,
        "max": 950.454692,
        "stddev": 258.25387074196743,
        "win_rate": 0.3793103448275862
      },
      "pnl_pct_on_deposit": {
        "count": 29,
        "mean": -0.0060687615934986025,
        "median": -0.0115622,
        "min": -0.11420936141979551,
        "max": 0.10722367999999999,
        "stddev": 0.049197941157879815,
        "win_rate": 0.3793103448275862
      },
      "avg_total_width_ticks": {
        "count": 29,
        "mean": 2155.369458128079,
        "median": 1800,
        "min": 533.3333333333334,
        "max": 10600,
        "stddev": 1815.92240929374,
        "win_rate": null
      },
      "rerange_count": {
        "count": 29,
        "mean": 0.9310344827586207,
        "median": 0,
        "min": 0,
        "max": 6,
        "stddev": 1.6460132459708006,
        "win_rate": null
      },
      "reranges_per_30d": {
        "count": 29,
        "mean": 9.277228541852386,
        "median": 0,
        "min": 0,
        "max": 194.23975220443134,
        "stddev": 35.94231984398699,
        "win_rate": null
      },
      "duration_days": {
        "count": 29,
        "mean": 8.42683748403576,
        "median": 4.25537037037037,
        "min": 0.0012962962962962963,
        "max": 45.60731481481481,
        "stddev": 11.35853948652321,
        "win_rate": null
      }
    }
  }
}