perp-cli 0.12.17 → 0.14.1

package/dist/commands/trade.js

@@ -1,24 +1,438 @@
-import { printJson, errorAndExit, withJsonErrors, jsonOk, jsonError, symbolMatch, formatUsd } from "../utils.js";
-import { extractErrorMessage } from "../errors.js";
+import { networkOf, supportsDryRun } from "../cli-flags.js";
+import { printJson, errorAndExit, withJsonErrors, jsonOk, jsonError, symbolMatch, formatUsd, formatOrderResult, orderResultJson } from "../utils.js";
+import { ERROR_CODES, extractErrorMessage, isDefiniteOrderFailure, parsePositiveDecimal, PerpError } from "../errors.js";
 import { logExecution } from "../execution-log.js";
-import { validateTrade } from "../trade-validator.js";
+import { validateTrade, enforceOrderRisk } from "../trade-validator.js";
 import { generateClientId, logClientId, isOrderDuplicate } from "../client-id-tracker.js";
 import { smartOrder } from "../smart-order.js";
+import { invalidateCache } from "../cache.js";
+import { closePerpVerified, isOutcomeUnknown, placePerpVerified } from "../bot/perp-order.js";
+import { iocLotTolerance, isIocOutcomeCapable } from "../exchanges/ioc-outcome.js";
+import { quarantineEntryFor, quarantineSymbol } from "../bot/quarantine.js";
+import { fillSizeString, sizeDecimalsOf } from "../exchanges/spot-result.js";
 import chalk from "chalk";
-import { hasPacificaSdk, isTwapCapable, isTriggerOrderCapable, isQueryOrderCapable } from "../exchanges/capabilities.js";
+import { hasPacificaSdk, isTwapCapable, isQueryOrderCapable } from "../exchanges/capabilities.js";
+import { getVenue, listVenuesWithRole, requireCapabilities } from "../exchanges/venue.js";
+import "../exchanges/venues/index.js";
+import { isTradingV2, newVenueClientOrderId, placeAndConfirm, reduceOnlyGateOf, stopOrderGateOf, unsupported, validateLegacyTif, validateOrderRequest } from "../exchanges/trading-v2.js";
+import { placeTpSlLeg, tradingV2Of } from "../exchanges/legacy-trading-v2.js";
+import { PACIFICA_UUID_RE } from "../exchanges/venues/pacifica.js";
+import { HL_CLOID_RE } from "../exchanges/venues/hyperliquid.js";
+import { ASTER_CLIENT_ID_RE } from "../exchanges/venues/aster.js";
+import { parseOrderRef } from "../exchanges/venue-types.js";
+import { resolveAdapterSlippage, resolveSlippage } from "../exchanges/slippage.js";
+import { exactUnits, floorSize, floorToStep, lotStepOf, unitsToString } from "../exchanges/precision.js";
+import { isSpotOpenOrdersCapable } from "../exchanges/spot-interface.js";
+import { builderPlanFor } from "../exchanges/builder-fee.js";
+import { HL_MIN_ORDER_VALUE_USD } from "../constants.js";
+import { defaultSpotQuote, readSpotQuoteAvailableFresh, requireSpotAdapter, requireSpotDefinition, transferQuoteToPerp, transferQuoteToSpot, transferShortfallError } from "../exchanges/spot-factory.js";
+// ── Uniform order surface (design §13) ──
+//
+// Every venue's trade market/buy/sell/limit/stop/edit/cancel goes through TradingV2:
+// native on ondo/arcus, the legacy wrapper (exchanges/legacy-trading-v2.ts) on
+// pacifica/hyperliquid/lighter/lighter-rh/aster. One default TIF (GTC), one result
+// shape (OrderResult + execution), one printer.
+/** Families with the legacy smart-order path (--smart: IOC at best book ± 1 tick). */
+const LEGACY_ORDER_FAMILIES = new Set(["pacifica", "hyperliquid", "lighter", "aster"]);
+/** Common default time-in-force for every venue (design §13.3; venues map GTC internally, e.g. GTT). */
+const DEFAULT_TIF = "GTC";
+function tradingVenueOf(adapter) {
+    const def = getVenue(adapter.name);
+    return { def, caps: requireCapabilities(def) };
+}
+function isLegacyOrderVenue(def) {
+    return LEGACY_ORDER_FAMILIES.has(def.family);
+}
+function parseSlippageBpsFlag(raw) {
+    if (raw === undefined)
+        return null;
+    const n = Number(raw);
+    if (!Number.isFinite(n) || n <= 0)
+        throw new PerpError("INVALID_PARAMS", `--slippage-bps must be a positive number (got "${raw}")`);
+    return n;
+}
+/**
+ * Client-order-id format accepted by each venue with client order ids. Arcus: 1–36 chars of
+ * [A-Za-z0-9_-] minus 3 so the "-tp"/"-sl" TP/SL leg suffix always fits;
+ * Ondo: 1–64 chars of [A-Za-z0-9_-]; Lighter(-RH): numeric clientOrderIndex (range
+ * checked by the adapter); Pacifica: a full UUID (docs.pacifica.fi create-limit-order:
+ * `client_order_id` "Full UUID string"); Hyperliquid: a 128-bit cloid, "0x" + 32 hex (HL_CLOID_RE);
+ * Aster: `newClientOrderId` ^[.A-Z:/a-z0-9_-]{1,36}$ (ASTER_CLIENT_ID_RE). Venues without client ids refuse --client-id / --auto-id
+ * (v2ClientOrderId) — an id is never accepted and then dropped.
+ */
+const V2_CLIENT_ID_RULES = {
+    arcus: { re: /^[A-Za-z0-9_-]{1,33}$/, desc: "1-33 chars of A-Z a-z 0-9 _ -" },
+    ondo: { re: /^[A-Za-z0-9_-]{1,64}$/, desc: "1-64 chars of A-Z a-z 0-9 _ -" },
+    lighter: { re: /^[1-9][0-9]{0,14}$/, desc: "a decimal integer from 1 to 2^48 - 1" },
+    "lighter-rh": { re: /^[1-9][0-9]{0,14}$/, desc: "a decimal integer from 1 to 2^48 - 1" },
+    pacifica: { re: PACIFICA_UUID_RE, desc: "a full UUID, e.g. f47ac10b-58cc-4372-a567-0e02b2c3d479" },
+    hyperliquid: { re: HL_CLOID_RE, desc: "a 128-bit hex cloid: 0x + 32 lowercase hex chars, e.g. 0x1234567890abcdef1234567890abcdef (or --auto-id)" },
+    aster: { re: ASTER_CLIENT_ID_RE, desc: "1-36 chars of A-Z a-z 0-9 . : / _ -" },
+};
+/**
+ * Venues whose client order ids perp-cli GENERATES and never takes from the user: QFEX ids are
+ * not unique on the venue, so a reused id would attribute another order's fills / cancels to
+ * this one (design §14.12 #4c). --auto-id still works (the generated id is reported).
+ */
+const GENERATED_CLIENT_ID_ONLY = new Set(["qfex"]);
+function validateV2ClientId(def, id) {
+    if (GENERATED_CLIENT_ID_ONLY.has(def.id)) {
+        throw unsupported(def.displayName, "clientOrderId", "client order ids are not unique on the venue, so perp-cli only correlates orders by ids it generates", `Omit --client-id on ${def.id} (use --auto-id, or nothing — the generated id is reported and works with: perp trade status c:<id> --symbol <S> -e ${def.id})`);
+    }
+    const rule = V2_CLIENT_ID_RULES[def.id];
+    if (rule === undefined) {
+        throw unsupported(def.displayName, "clientOrderId", "no client-order-id format rule for this venue", "Omit --client-id / --auto-id");
+    }
+    if (!rule.re.test(id)) {
+        throw new PerpError("INVALID_PARAMS", `Client order id "${id}" is not valid on ${def.displayName} (${rule.desc})`);
+    }
+}
+/**
+ * Venue client order id: the caller's --client-id/--auto-id (validated); else a generated id
+ * for async-ack venues; else null. A venue whose orders carry no client id through this CLI
+ * refuses a caller id up front (CAPABILITY_UNSUPPORTED, nothing sent):
+ * the order would be placed without it and `trade status c:<id>` / `trade cancel c:<id>` could
+ * never find it.
+ */
+function v2ClientOrderId(def, caps, userId) {
+    if (!caps.clientOrderId) {
+        if (userId !== undefined) {
+            throw unsupported(def.displayName, "clientOrderId", "orders on this venue carry no client order id through perp-cli, so the id would be dropped", `Omit --client-id / --auto-id on ${def.id} and use the venue order id the result reports (perp trade status <orderId> -e ${def.id})`);
+        }
+        return null;
+    }
+    if (userId !== undefined) {
+        validateV2ClientId(def, userId);
+        return userId;
+    }
+    return caps.orderAck === "async" ? newVenueClientOrderId(def) : null;
+}
+/**
+ * --auto-id: venue-format id where the venue has client ids; a venue without them refuses it
+ * (v2ClientOrderId — the locally generated id is never sent).
+ * Ondo / Pacifica limit orders: undefined — the adapter generates its own id, which encodes
+ * post-only (Ondo) / the TIF (Pacifica) for a later edit (design §13.10 #10, #11); the result
+ * reports that id. A Pacifica market order has no generated id, so --auto-id sends a UUID.
+ * Generated-only venues (qfex): undefined — v2ClientOrderId generates the venue id itself.
+ */
+function autoClientId(def, caps, orderType) {
+    if (def.id === "ondo" || GENERATED_CLIENT_ID_ONLY.has(def.id))
+        return undefined;
+    if (def.id === "pacifica" && orderType === "limit")
+        return undefined;
+    return caps.clientOrderId ? newVenueClientOrderId(def) : generateClientId();
+}
+/** Validated market-order request (`slippage` = resolveSlippage() output). */
+function v2MarketRequest(def, caps, symbol, side, size, reduceOnly, slippage, clientId) {
+    const req = {
+        symbol, side, type: "market", size, price: null, triggerPrice: null, triggerSource: null, tif: null,
+        reduceOnly,
+        clientOrderId: v2ClientOrderId(def, caps, clientId),
+        slippage,
+        tpsl: null,
+    };
+    validateOrderRequest(def, caps, req);
+    return req;
+}
+/**
+ * placeAndConfirm() plus the CLI notice for adapter-side size flooring
+ * (venueRaw.requestedSize/placedSize, Arcus) on stderr.
+ */
+async function placeV2(v2, caps, req) {
+    const result = await placeAndConfirm(v2, caps, req);
+    const raw = result.venueRaw;
+    if (raw !== null && typeof raw === "object" && typeof raw.requestedSize === "string" && typeof raw.placedSize === "string") {
+        console.error(chalk.yellow(`  Notice: size ${raw.requestedSize} was floored to the venue step → ${raw.placedSize} placed`));
+    }
+    return result;
+}
+/** Unified human output for an order result (every venue). */
+function printOrder(header, r) {
+    console.log(chalk.green(`\n  ${header}`));
+    for (const line of formatOrderResult(r))
+        console.log(line);
+    console.log();
+}
+/** Unified human output for a CancelResult. */
+function printCancel(r, symbol) {
+    const refText = (ref) => (ref.kind === "clientOrderId" ? `c:${ref.value}` : ref.value);
+    const pending = r.pending ?? [];
+    if (r.cancelled.length > 0) {
+        console.log(chalk.green(`\n  Cancelled on ${r.venue} (${symbol}): ${r.cancelled.map(refText).join(", ")}`));
+    }
+    else if (r.failed.length === 0 && pending.length === 0) {
+        console.log(chalk.yellow(`\n  No order cancelled on ${r.venue} (${symbol}).`));
+    }
+    else {
+        console.log();
+    }
+    for (const f of r.failed) {
+        console.log(chalk.red(`  ✗ ${f.ref !== null ? refText(f.ref) : symbol}: ${f.error}`));
+    }
+    for (const p of pending) {
+        console.log(chalk.yellow(`  ? ${p.ref !== null ? refText(p.ref) : symbol}: cancel PENDING — ${p.reason}. ${p.remediation}`));
+    }
+    console.log();
+}
+/**
+ * A cancel with anything not proven cancelled (failed, or pending / still listed open after the
+ * verifying re-list) → ORDER_PARTIAL carrying the whole result (non-zero exit, also in --json);
+ * all failed (none cancelled, none pending) → ORDER_REJECTED (definitely nothing cancelled).
+ */
+export function cancelIncompleteError(r, scope) {
+    const pending = r.pending ?? [];
+    if (r.failed.length === 0 && pending.length === 0)
+        return null;
+    if (r.cancelled.length === 0 && pending.length === 0) {
+        // Every order definitely NOT cancelled (venue refusal confirmed by the order's own state, e.g.
+        // already filled): a definite rejection — nothing changed on the venue.
+        return new PerpError("ORDER_REJECTED", `${r.venue} cancel (${scope}) refused: ${r.failed.map(f => f.error).join("; ")}`, {
+            exchange: r.venue, cancelled: r.cancelled, failed: r.failed, pending, legacy: r.venueRaw,
+            remediation: `Nothing was cancelled — check open orders: perp account orders -e ${r.venue}`,
+        });
+    }
+    return new PerpError("ORDER_PARTIAL", `${r.venue} cancel (${scope}): ${r.cancelled.length} confirmed cancelled, ${r.failed.length} failed, ${pending.length} pending / still open`, {
+        exchange: r.venue, cancelled: r.cancelled, failed: r.failed, pending, legacy: r.venueRaw,
+        remediation: `Check open orders before acting again: perp account orders -e ${r.venue}`,
+    });
+}
+/** JSON extra: the locally tracked CLI client id when the venue order does not carry it. */
+function trackedId(r, clientId) {
+    return clientId !== undefined && r.clientOrderId !== clientId ? { trackedClientId: clientId } : undefined;
+}
+/**
+ * Close / flatten / reduce / stop and the `--tp/--sl` / `trade tpsl` legs are reduce-only orders.
+ * A venue whose reduce-only orders are currently refused says so UP FRONT — before an entry is sent ("entry filled, protection failed" never
+ * happens) and before flatten cancels anything.
+ */
+/**
+ * QFEX (orphanedReduceOnlyOrders): resting reduce-only / stop orders left on a symbol whose
+ * position is gone — the venue leaves them open (production 2026-10-12, Q2), and whether one the
+ * market reaches while flat opens a position is unproven. `cancel` false → a WARNING listing them
+ * with the cancel command; true (flatten) → each is cancelled (per-order proof) and the result
+ * returned. Venues without the method → null. A failed read is a WARNING (the close itself stands).
+ */
+async function orphanedReduceOnly(adapter, symbol, cancel) {
+    const fn = adapter.orphanedReduceOnlyOrders;
+    if (typeof fn !== "function")
+        return null;
+    let left;
+    try {
+        left = await fn.call(adapter, symbol);
+    }
+    catch (e) {
+        process.stderr.write(chalk.yellow(`  WARNING: could not check ${adapter.name} for reduce-only / stop orders left after the close (${extractErrorMessage(e)}) — check: perp account orders -e ${adapter.name}\n`));
+        return null;
+    }
+    if (left.length === 0)
+        return null;
+    if (!cancel) {
+        process.stderr.write(chalk.yellow(`  WARNING: ${left.length} reduce-only / stop order(s) remain on ${adapter.name} with no position (the venue does not cancel them): `
+            + `${left.map(o => `${o.symbol} ${o.type} ${o.side} ${o.quantity} @ ${o.price} (${o.orderId})`).join("; ")}. Cancel: ${left.map(o => `perp trade cancel ${o.symbol} ${o.orderId} -e ${adapter.name}`).join(" ; ")}\n`));
+        return null;
+    }
+    if (!isTradingV2(adapter))
+        throw new PerpError("NOT_IMPLEMENTED", `${adapter.name}: orphaned reduce-only orders can only be cancelled on a TradingV2 adapter`);
+    const v2 = adapter;
+    const out = { venue: adapter.name, cancelled: [], failed: [], pending: [], venueRaw: [] };
+    for (const o of left) {
+        const r = await v2.cancelByRef(o.symbol, { kind: "orderId", value: o.orderId });
+        out.cancelled.push(...r.cancelled);
+        out.failed.push(...r.failed);
+        out.pending.push(...(r.pending ?? []));
+    }
+    return out;
+}
+function refuseGatedReduceOnly(adapter) {
+    const gate = reduceOnlyGateOf(adapter);
+    if (gate !== null)
+        throw gate;
+}
+/** `--tp/--sl` and `trade tpsl` legs are stop orders: a venue that refuses stops (QFEX, Q21) says so before the entry is sent. */
+function refuseGatedStops(adapter) {
+    const gate = stopOrderGateOf(adapter);
+    if (gate !== null)
+        throw gate;
+}
+/** Pre-validate an edit (amend) against the venue capabilities. */
+function prevalidateAmend(adapter) {
+    const { def, caps } = tradingVenueOf(adapter);
+    if (caps.amend === null) {
+        throw unsupported(def.displayName, "amend", "the venue cannot edit orders", `Cancel and re-place the order: perp trade cancel -e ${def.id} ...`);
+    }
+}
+function positivePriceOpt(raw, flag) {
+    if (raw === undefined)
+        return null;
+    const n = Number(raw);
+    if (!Number.isFinite(n) || n <= 0)
+        throw new PerpError("INVALID_PARAMS", `${flag} must be a positive price (got "${raw}")`);
+    return raw;
+}
+/** --tp/--sl of an entry command; null when neither is given. */
+function entryTpSl(opts) {
+    const tp = positivePriceOpt(opts.tp, "--tp");
+    const sl = positivePriceOpt(opts.sl, "--sl");
+    return tp === null && sl === null ? null : { tp, sl };
+}
+/**
+ * Direction check before anything is sent: a long needs tp > ref > sl, a short sl > ref > tp
+ * (ref = the entry's reference: mark for market entries, the limit price for limit entries,
+ * the live mark for an open position). Violations → INVALID_PARAMS.
+ */
+function checkTpSlDirection(positionSide, ref, refLabel, p) {
+    const bad = [];
+    if (p.tp !== null) {
+        const tp = Number(p.tp);
+        if (positionSide === "long" ? !(tp > ref) : !(tp < ref))
+            bad.push(`take-profit ${p.tp} must be ${positionSide === "long" ? "above" : "below"} the ${refLabel} ${ref}`);
+    }
+    if (p.sl !== null) {
+        const sl = Number(p.sl);
+        if (positionSide === "long" ? !(sl < ref) : !(sl > ref))
+            bad.push(`stop-loss ${p.sl} must be ${positionSide === "long" ? "below" : "above"} the ${refLabel} ${ref}`);
+    }
+    if (bad.length > 0) {
+        throw new PerpError("INVALID_PARAMS", `TP/SL direction for a ${positionSide} position: ${bad.join("; ")}`, {
+            remediation: positionSide === "long" ? "For a long: --tp above and --sl below the reference price" : "For a short: --tp below and --sl above the reference price",
+        });
+    }
+}
+/** The venue's current mark price for `symbol` (PRICE_STALE when it is not published / not positive). */
+async function markPriceOf(adapter, symbol) {
+    const m = (await adapter.getMarkets()).find(x => symbolMatch(x.symbol, symbol));
+    const px = m === undefined ? NaN : Number(m.markPrice);
+    if (!(px > 0) || !Number.isFinite(px)) {
+        throw new PerpError("PRICE_STALE", `${adapter.name} ${symbol}: no mark price to check the TP/SL direction against`, { exchange: adapter.name });
+    }
+    return px;
+}
+function positionTpSlAdapter(adapter) {
+    const a = adapter;
+    if (typeof a.positionTpSlOrders !== "function" || typeof a.setPositionTpSl !== "function") {
+        throw new PerpError("NOT_IMPLEMENTED", `${adapter.name} adapter has no position-level TP/SL methods`);
+    }
+    return adapter;
+}
+/** Refuse when position-level TP/SL orders already exist (never overwrite, §13.10 #12). */
+async function refuseExistingPositionTpSl(adapter, def, symbol) {
+    const existing = await adapter.positionTpSlOrders(symbol);
+    if (existing.length > 0) {
+        throw new PerpError("INVALID_PARAMS", `${def.displayName} ${symbol} already has position TP/SL (${existing.map(o => `${o.type} #${o.orderId}${o.stopPrice !== null ? ` @ ${o.stopPrice}` : ""}`).join(", ")}); refusing to overwrite it`, {
+            exchange: def.id,
+            remediation: `Cancel the existing TP/SL first (perp trade cancel-stop ${symbol} <orderId> -e ${def.id}), then set the new one`,
+        });
+    }
+}
+function legLabel(l) {
+    return l.kind === "tp" ? `TP @ ${l.trigger}` : l.kind === "sl" ? `SL @ ${l.trigger}` : `position TP/SL ${l.trigger}`;
+}
+// ── Scaled orders (scale-tp / scale-in) ──
+/**
+ * Sizes of scaled levels on the venue lot grid: the total is floored to `step`, each level is
+ * floor(total × pct / 100) lots and the LAST level takes the remainder — so every level is a
+ * multiple of the lot and the levels sum to the floored total. An off-lot level is refused by the
+ * venue (Pacifica 422 "Limit order amount 0.00205 is not a multiple of lot size"; Lighter 21706
+ * "invalid order base or quote amount" for 0.01475 TSLA at 4 size decimals). A level of zero lots
+ * → SIZE_TOO_SMALL.
+ */
+export function scaleLevelSizes(total, pcts, step) {
+    const units = exactUnits(floorSize(total, step), step);
+    if (units === null)
+        throw new PerpError("INVALID_PARAMS", `size ${total} cannot be placed on the lot ${step}`);
+    const out = [];
+    let used = 0n;
+    pcts.forEach((pct, i) => {
+        const u = i === pcts.length - 1 ? units - used : BigInt(Math.floor(Number(units) * pct / 100 + 1e-9));
+        used += u;
+        out.push(u);
+    });
+    const zero = out.findIndex(u => u <= 0n);
+    if (zero !== -1) {
+        throw new PerpError("SIZE_TOO_SMALL", `Level ${zero + 1} (${pcts[zero]}% of ${total}) is below the lot ${step}; nothing was sent`, {
+            remediation: `Use fewer levels or a larger total: every level must be at least one lot (${step})`,
+        });
+    }
+    return out.map(u => unitsToString(u, step));
+}
+/**
+ * Refuse (SIZE_TOO_SMALL, nothing sent) a scaled order with a level under the venue's published
+ * minimum order size / notional (VenueMarket.minSize / minNotional; null = none published on this
+ * data path → not checked). Reduce-only levels are held to it too: no venue's docs state an
+ * exemption (Pacifica market-info: `min_order_size` "Minimum order size (denominated in USD)",
+ * no exception listed).
+ */
+export function requireScaleLevelMinimums(venue, symbol, levels, min) {
+    levels.forEach((l, i) => {
+        const notional = Number(l.size) * Number(l.price);
+        const underSize = min.minSize !== null && Number(l.size) < Number(min.minSize);
+        const underNotional = min.minNotional !== null && notional < Number(min.minNotional);
+        if (!underSize && !underNotional)
+            return;
+        throw new PerpError("SIZE_TOO_SMALL", `${venue} ${symbol}: level ${i + 1} (${l.size} @ ${l.price} = $${notional.toFixed(2)}) is below the venue minimum ${underSize ? `size ${min.minSize}` : `order value $${min.minNotional}`}; nothing was sent`, {
+            exchange: venue, level: i + 1, size: l.size, price: l.price, minSize: min.minSize, minNotional: min.minNotional,
+            remediation: "Use fewer levels (or a larger total) so that every level meets the venue minimum",
+        });
+    });
+}
+/**
+ * The failure a scaled order reports unless every level was placed: any unknown outcome →
+ * ORDER_PENDING; every level definitely refused → ORDER_REJECTED; otherwise ORDER_PARTIAL.
+ * details list the placed / failed / unknown / not-sent levels.
+ */
+export function scaleIncompleteError(venue, what, levels) {
+    const by = (o) => levels.filter(l => l.outcome === o);
+    const placed = by("placed"), rejected = by("rejected"), unknown = by("unknown"), notSent = by("notSent");
+    if (rejected.length === 0 && unknown.length === 0)
+        return null;
+    const details = { exchange: venue, placed, failed: rejected, unknown, notSent };
+    const hint = `perp account orders -e ${venue}`;
+    if (unknown.length > 0) {
+        return new PerpError("ORDER_PENDING", `${venue} ${what}: the outcome of level ${levels.indexOf(unknown[0]) + 1} is unknown; ${placed.length} placed, ${rejected.length} refused, ${notSent.length} not sent`, {
+            ...details, remediation: `Do NOT resubmit — a level may have been placed. Check open orders: ${hint}`,
+        });
+    }
+    if (placed.length === 0) {
+        return new PerpError("ORDER_REJECTED", `${venue} ${what}: every level was refused, nothing was placed — ${rejected.map(l => l.result.error).join("; ")}`, details);
+    }
+    return new PerpError("ORDER_PARTIAL", `${venue} ${what}: ${placed.length} level(s) placed, ${rejected.length} refused`, {
+        ...details, remediation: `Some levels are resting. Inspect with: ${hint}, then place the missing levels or cancel the placed ones.`,
+    });
+}
+/**
+ * Pacifica native TWAP (create / cancel) is refused when signed by an agent wallet: live mainnet
+ * 2026-10-05, POST /orders/twap/create with `agent_wallet` → 400 signature_verification_failed
+ * ("signature does not match signer and canonical payload"), while the same request signed by
+ * the master was accepted (TWAP 121433, then cancelled). The REST docs have no TWAP page and the
+ * official python-sdk example signs with the account key only.
+ */
+function requirePacificaTwapSigner(adapter, what) {
+    const tier = adapter.activeSignerTier;
+    if (tier === "agent") {
+        throw unsupported("Pacifica", "agentSignedTwap", `the venue rejects an agent-signed ${what} (signature_verification_failed); only the account's own key is accepted`, "Sign this command with the master wallet: add --no-agent (the master wallet must be on this computer)");
+    }
+}
+/** Venues whose cancel-by-reference needs no symbol (Ondo: DELETE /orders/<id> or client id). */
+const SYMBOLLESS_CANCEL_VENUES = new Set(["ondo"]);
+/** UUID (Pacifica / QFEX / Ondo order ids) — 8-4-4-4-12 hex. */
+const UUID_RE = /^[0-9a-f]{8}-[0-9a-f]{4}-[0-9a-f]{4}-[0-9a-f]{4}-[0-9a-f]{12}$/i;
+/** One-arg `trade cancel <x>`: true when x is an order id (numeric, UUID or 0x-hex), never a symbol. */
+export function looksLikeOrderId(x) {
+    return /^\d+$/.test(x) || UUID_RE.test(x) || /^0x[0-9a-f]+$/i.test(x);
+}
 export function registerTradeCommands(program, getAdapter, isJson, isDryRun = () => false, getAdapterForExchange) {
     /** Guard: if --dry-run is active, log the intended action and return without executing. */
     function dryRunGuard(action, details) {
         if (!isDryRun())
             return false;
-        const info = { dryRun: true, action, ...details, timestamp: new Date().toISOString() };
+        const info = { dryRun: true, sent: false, action, ...details, timestamp: new Date().toISOString() };
         if (isJson()) {
             printJson(jsonOk(info));
         }
         else {
             console.log(chalk.yellow(`\n  [DRY RUN] Would ${action}:`));
             for (const [k, v] of Object.entries(details)) {
-                console.log(chalk.gray(`    ${k}: ${v}`));
+                console.log(chalk.gray(`    ${k}: ${v !== null && typeof v === "object" ? JSON.stringify(v) : v}`));
             }
             console.log();
         }
@@ -34,182 +448,469 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
         });
         return true;
     }
-    const trade = program.command("trade").description("Trading commands");
-    // === Generic commands (all exchanges) ===
-    trade
-        .command("market <symbol> <side> <size>")
-        .description("Place a market order (side: buy/sell)")
-        .option("-s, --slippage <pct>", "Slippage percent", "1")
-        .option("--reduce-only", "Reduce only order")
-        .option("--smart", "Smart execution: IOC limit at best bid/ask + 1 tick (reduces slippage)")
-        .option("--split", "Use orderbook-aware split execution for large orders")
-        .option("--max-slippage <pct>", "Max slippage per split slice (%)", "0.3")
-        .option("--client-id <id>", "Client order ID for idempotent tracking")
-        .option("--auto-id", "Auto-generate a client order ID")
-        .action(async (symbol, side, size, opts) => {
-        const s = side.toLowerCase();
-        if (s !== "buy" && s !== "sell")
-            errorAndExit("Side must be buy or sell");
-        const sym = symbol.toUpperCase();
-        // ── Split execution branch ──
-        if (opts.split) {
-            const adapter = await getAdapter();
-            if (dryRunGuard("split-order", { exchange: adapter.name, symbol: sym, side: s, size }))
-                return;
-            const { runSplitOrder } = await import("../strategies/split-order.js");
-            const markets = await adapter.getMarkets();
-            const market = markets.find(m => symbolMatch(m.symbol, sym));
-            const markPrice = market ? parseFloat(market.markPrice) : 0;
-            const notionalUsd = markPrice > 0 ? parseFloat(size) * markPrice : parseFloat(size);
-            const result = await runSplitOrder(adapter, {
-                symbol: sym,
-                side: s,
-                totalSizeUsd: notionalUsd,
-                maxSlippagePct: parseFloat(opts.maxSlippage ?? "0.3"),
-            }, isJson() ? () => { } : (msg) => console.log(chalk.gray(`  ${msg}`)));
-            if (isJson())
-                return printJson(jsonOk(result));
-            const statusColor = result.status === "complete" ? chalk.green : result.status === "partial" ? chalk.yellow : chalk.red;
-            console.log(`\n  ${statusColor(result.status.toUpperCase())} | ${result.slices.length} slices | $${formatUsd(result.filledUsd)} filled | slippage: ${result.totalSlippagePct.toFixed(3)}%\n`);
+    /**
+     * dryRunGuard for a perp order: adds the builder fee the live order would carry
+     * (`builderFee`: { venue, identity, feeBps, feeKind } | null, plus `builderNote` when a
+     * configured fee would not be attached).
+     */
+    async function orderDryRunGuard(action, adapter, symbol, details) {
+        if (!isDryRun())
+            return false;
+        const d = await builderPlanFor(adapter, symbol);
+        return dryRunGuard(action, { ...details, builderFee: d.applied, ...(d.note !== null ? { builderNote: d.note } : {}) });
+    }
+    /**
+     * Pre-send gate of every order path that can open or flip a position, run BEFORE the dry-run
+     * return (a dry-run reports the refusal the live order would hit):
+     *  - quarantine (non-reduce-only): an earlier unknown outcome on the symbol blocks new orders
+     *    until a human clears it — the same gate as MCP (mcpPreTradeGate) and `arb exec`; --force
+     *    does NOT bypass it (--force is the local risk-limit override only);
+     *  - local risk limits (enforceOrderRisk; --force bypasses, reduce-only exempt).
+     */
+    /** Opening orders on a quarantined symbol are refused (reduce-only passes); --force never bypasses it. */
+    function assertNotQuarantined(venue, symbol, reduceOnly) {
+        if (reduceOnly === true)
+            return;
+        const q = quarantineEntryFor(symbol, (m) => { if (!isJson())
+            console.error(m); });
+        if (q !== null) {
+            throw new PerpError("RISK_VIOLATION", `${symbol} is quarantined by ${q.strategy}: ${q.reason}`, {
+                exchange: venue,
+                remediation: `${q.remediation} — only reduce-only orders are accepted until a human clears it (perp strategy quarantine-clear ${symbol})`,
+            });
+        }
+    }
+    async function openingOrderGate(adapter, p) {
+        assertNotQuarantined(adapter.name, p.symbol, p.reduceOnly);
+        await enforceOrderRisk(adapter, p);
+    }
+    /** Mark price of `sym` (split sizing / risk); no usable mark → PRICE_STALE, nothing sent. */
+    async function splitMarkPrice(adapter, sym) {
+        const market = (await adapter.getMarkets()).find(m => symbolMatch(m.symbol, sym));
+        const markPrice = market !== undefined ? Number(market.markPrice) : NaN;
+        if (!(markPrice > 0)) {
+            throw new PerpError("PRICE_STALE", `${adapter.name}: no usable mark price for ${sym} — cannot size the split; nothing was sent`, { exchange: adapter.name });
+        }
+        return markPrice;
+    }
+    const network = () => networkOf(program);
+    const v2Of = (adapter) => tradingV2Of(adapter, network());
+    /**
+     * Validate every level of a scaled order BEFORE anything is sent (venue TIF / reduce-only rules,
+     * e.g. Ondo refuses a resting reduce-only order; venue minimum per level) and return the requests.
+     */
+    async function scaleRequests(adapter, sym, side, reduceOnly, levels) {
+        const { def, caps } = tradingVenueOf(adapter);
+        const tif = validateLegacyTif(def, caps, DEFAULT_TIF);
+        const reqs = levels.map((l) => ({
+            symbol: sym, side, type: "limit", size: l.size, price: l.price, triggerPrice: null, triggerSource: null, tif,
+            reduceOnly, clientOrderId: v2ClientOrderId(def, caps, undefined), slippage: null, tpsl: null,
+        }));
+        for (const req of reqs)
+            validateOrderRequest(def, caps, req);
+        const { min } = await venueOrderRules(adapter, sym);
+        if (min !== null)
+            requireScaleLevelMinimums(def.id, sym, levels, min);
+        return reqs;
+    }
+    /**
+     * The venue's published tick and order minimums for `sym` (VenueMarket). A HIP-3 dex market
+     * ("xyz:NVDA") is not in the venue's public market list (native dex only): no tick there, but
+     * Hyperliquid's minimum order value is venue-wide, so it still applies. `min` null = the
+     * market has no VenueMarket row and the venue no venue-wide minimum → not checked.
+     */
+    async function venueOrderRules(adapter, sym) {
+        const { def } = tradingVenueOf(adapter);
+        const vm = (await v2Of(adapter).getVenueMarkets()).find(m => symbolMatch(m.symbol, sym));
+        if (vm !== undefined)
+            return { tickSize: vm.tickSize, min: { minSize: vm.minSize, minNotional: vm.minNotional } };
+        return { tickSize: null, min: def.id === "hyperliquid" ? { minSize: null, minNotional: HL_MIN_ORDER_VALUE_USD } : null };
+    }
+    /**
+     * Run a split order with the venue's lot / tick / minimums and report it. A run that did not
+     * fill completely is an error envelope (ORDER_REJECTED / ORDER_PENDING / ORDER_PARTIAL), never ok:true.
+     */
+    async function runSplit(adapter, sym, side, totalSizeUsd, o) {
+        const { runSplitOrder, splitIncompleteError } = await import("../strategies/split-order.js");
+        const rules = await venueOrderRules(adapter, sym);
+        const result = await runSplitOrder(adapter, {
+            symbol: sym, side, totalSizeUsd, ...o,
+            stepSize: await lotStepOf(adapter, sym), tickSize: rules.tickSize,
+            minSize: rules.min !== null ? rules.min.minSize : null, minNotional: rules.min !== null ? rules.min.minNotional : null,
+        }, isJson() ? () => { } : (msg) => console.log(chalk.gray(`  ${msg}`)));
+        const incomplete = splitIncompleteError(adapter.name, result);
+        if (incomplete !== null)
+            throw incomplete;
+        if (isJson())
+            return printJson(jsonOk(result));
+        console.log(`\n  ${chalk.green(result.status.toUpperCase())} | ${result.slices.length} slices`);
+        console.log(`  Filled: ${result.filledSize} / ${result.requestedSize} ${sym}${result.filledUsd !== null ? ` ($${formatUsd(result.filledUsd)} of $${formatUsd(result.requestedUsd)})` : ""}`);
+        console.log(`  Avg Price: ${result.avgPrice !== null ? `$${result.avgPrice}` : "not reported by the venue"}`);
+        if (result.totalSlippagePct !== null)
+            console.log(`  Slippage: ${result.totalSlippagePct.toFixed(3)}%`);
+        console.log(`  Runtime: ${result.runtime.toFixed(1)}s\n`);
+    }
+    /**
+     * Send the levels of a scaled order one by one through the uniform order path. A level whose
+     * outcome is unknown (transport failure after sending, or a non-final ack) stops the run — the
+     * remaining levels are not sent. Throws scaleIncompleteError unless every level was placed.
+     */
+    async function placeScaleLevels(adapter, action, sym, side, plan, reqs) {
+        const { caps } = tradingVenueOf(adapter);
+        const out = [];
+        let stopped = false;
+        for (const [i, level] of plan.entries()) {
+            if (stopped) {
+                out.push({ ...level, outcome: "notSent", result: { error: "not sent: an earlier level's outcome is unknown" } });
+                continue;
+            }
+            const meta = { action, pct: level.pct, reduceOnly: reqs[i].reduceOnly };
+            const log = (status, error) => logExecution({
+                type: "limit_order", exchange: adapter.name, symbol: sym, side, size: level.size, price: level.price,
+                status, dryRun: false, ...(error !== undefined ? { error } : {}), meta,
+            });
+            try {
+                const r = await placeV2(v2Of(adapter), caps, reqs[i]);
+                if (r.finality !== "final") {
+                    stopped = true;
+                    log("unverified", "the venue acknowledged the order without a final status");
+                    out.push({ ...level, outcome: "unknown", result: orderResultJson(r) });
+                }
+                else if (r.status === "rejected" || r.status === "cancelled") {
+                    log("failed", `the venue ${r.status} the order`);
+                    out.push({ ...level, outcome: "rejected", result: { error: `the venue ${r.status} the order${r.orderId !== null ? ` ${r.orderId}` : ""}` } });
+                }
+                else {
+                    log("success");
+                    out.push({ ...level, outcome: "placed", result: orderResultJson(r) });
+                }
+            }
+            catch (err) {
+                const msg = extractErrorMessage(err);
+                const definite = isDefiniteOrderFailure(err);
+                if (!definite)
+                    stopped = true;
+                log(definite ? "failed" : "unverified", msg);
+                out.push({ ...level, outcome: definite ? "rejected" : "unknown", result: { error: msg } });
+            }
+        }
+        return out;
+    }
+    /** Print the per-level table of a scaled order (human mode). */
+    function printScaleLevels(title, sym, levels) {
+        console.log(chalk.green(`\n  ${title}\n`));
+        for (const l of levels) {
+            const status = l.outcome === "placed" ? chalk.green("OK") : l.outcome === "rejected" ? chalk.red("FAILED") : l.outcome === "unknown" ? chalk.yellow("UNKNOWN") : chalk.gray("NOT SENT");
+            console.log(`  ${status}  $${l.price} — ${l.pct}% (${l.size} ${sym})${"error" in l.result ? chalk.gray(` — ${String(l.result.error)}`) : ""}`);
+        }
+        console.log();
+    }
+    /**
+     * Validate an entry's --tp/--sl before anything is sent (design §13.10 #12): the venue has
+     * TP/SL, the entry opens (not reduce-only), separateOrders / positionLevel venues need an
+     * immediate entry (market or IOC — a resting entry has no verified fill to size the legs to),
+     * and the prices sit on the right sides of `ref`.
+     */
+    function prevalidateEntryTpSl(def, caps, side, reduceOnly, immediate, ref, refLabel, prices) {
+        if (caps.tpsl === null) {
+            throw unsupported(def.displayName, "tpsl", "the venue has no TP/SL orders", `Use stop orders: perp trade stop -e ${def.id} ...`);
+        }
+        if (reduceOnly) {
+            throw new PerpError("INVALID_PARAMS", "--tp/--sl protect the position an entry opens; they cannot be combined with --reduce-only");
+        }
+        if (!immediate && (caps.tpsl === "separateOrders" || caps.tpsl === "positionLevel")) {
+            throw unsupported(def.displayName, "tpslRestingEntry", "TP/SL legs are sized to the entry's verified fill, and a resting entry has no fill yet", `Use a market (or --tif IOC) entry with --tp/--sl, or place the entry and later run: perp trade tpsl <symbol> <long|short> --tp <p> --sl <p> -e ${def.id}`);
+        }
+        checkTpSlDirection(side === "buy" ? "long" : "short", ref, refLabel, prices);
+    }
+    /**
+     * Place an entry carrying --tp/--sl — one meaning on every venue: protect THIS entry's
+     * verified fill (design §13.5, §13.10 #12).
+     *  - attached (ondo) / batchGroup (arcus): the venue attaches the legs to the entry.
+     *  - separateOrders (hl, lighter, aster): entry fill VERIFIED (placePerpVerified: venue-final
+     *    report cross-checked with the position delta), then reduce-only TP/SL triggers sized to it.
+     *  - positionLevel (pacifica): entry fill verified, then position TP/SL (refused when TP/SL
+     *    or a position already exists — the position-level TP/SL would cover more than this fill).
+     * Entry outcome unknown → ORDER_PENDING, no legs ("position may be unprotected"); entry ok and
+     * a leg fails → ORDER_PARTIAL (not retryable) with the entry result and the legs placed.
+     */
+    async function placeProtectedEntry(adapter, def, caps, req, prices, slippage) {
+        const v2 = v2Of(adapter);
+        const sym = req.symbol;
+        const positionSide = req.side === "buy" ? "long" : "short";
+        // An entry against an existing opposite position reduces (or flips) it instead of opening:
+        // TP/SL sized to its fill would protect a position that does not exist. Refused on every venue.
+        invalidateCache("acct");
+        const existing = (await adapter.getPositions()).filter(p => symbolMatch(p.symbol, sym) && Number(p.size) !== 0);
+        const opposite = existing.find(p => p.side !== positionSide);
+        if (opposite !== undefined) {
+            throw new PerpError("INVALID_PARAMS", `--tp/--sl protect the position an entry opens, but this ${req.side} would reduce the existing ${opposite.side} ${opposite.size.replace(/^-/, "")} ${sym} position`, {
+                remediation: `Close or reduce the ${opposite.side} first (perp trade close ${sym} -e ${def.id}), or place the entry without --tp/--sl`,
+            });
+        }
+        if (caps.tpsl === "attached" || caps.tpsl === "batchGroup") {
+            const entry = await placeV2(v2, caps, { ...req, tpsl: prices });
+            return { entry, filledSize: entry.filledSize ?? "unknown", method: caps.tpsl, legs: [] };
+        }
+        const closeSide = req.side === "buy" ? "sell" : "buy";
+        const tpslHint = `perp trade tpsl ${sym} ${positionSide}${prices.tp !== null ? ` --tp ${prices.tp}` : ""}${prices.sl !== null ? ` --sl ${prices.sl}` : ""} -e ${def.id}`;
+        let pacifica = null;
+        if (caps.tpsl === "positionLevel") {
+            pacifica = positionTpSlAdapter(adapter);
+            if (existing.length > 0) {
+                throw unsupported(def.displayName, "tpslPositionLevel", `TP/SL is position-level and would also cover the existing ${sym} position, not just this entry's fill`, `Place the entry without --tp/--sl, then run: perp trade tpsl ${sym} <long|short> --tp <p> --sl <p> -e ${def.id}`);
+            }
+            await refuseExistingPositionTpSl(pacifica, def, sym);
+        }
+        // Lot step from the venue market info: the entry is sent floored to it, its fill is judged
+        // against that sent size (half-lot tolerance) and the TP/SL legs are sized on the lot grid.
+        const step = await lotStepOf(adapter, sym);
+        const sent = { ...req, size: floorSize(req.size, step) };
+        const holder = { entry: null };
+        let fill;
+        try {
+            fill = await placePerpVerified(adapter, def.id, sym, sent.side, sent.size, {
+                reduceOnly: false,
+                stepSize: step,
+                place: async () => {
+                    holder.entry = await placeV2(v2, caps, sent);
+                    return holder.entry.venueRaw;
+                },
+            });
+        }
+        catch (e) {
+            if (isOutcomeUnknown(e)) {
+                throw new PerpError("ORDER_PENDING", `${extractErrorMessage(e)} — no TP/SL was placed: the position may be unprotected`, {
+                    exchange: def.id,
+                    entry: holder.entry !== null ? orderResultJson(holder.entry) : null,
+                    remediation: `Do NOT resubmit. Check the position (perp account positions -e ${def.id}); once confirmed, protect it with: ${tpslHint}`,
+                });
+            }
+            throw e;
+        }
+        const entry = holder.entry;
+        const filled = floorToStep(fill.filledSize, step);
+        const legs = [];
+        const partial = (failed, e) => new PerpError("ORDER_PARTIAL", `Entry filled ${filled} ${sym} on ${def.displayName}, but ${failed} failed: ${extractErrorMessage(e)} — ${legs.length > 0 ? `placed: ${legs.map(legLabel).join(", ")}` : "no TP/SL placed"}`, {
+            exchange: def.id,
+            entry: entry !== null ? orderResultJson(entry) : null,
+            filledSize: filled,
+            legsPlaced: legs.map(l => ({ kind: l.kind, trigger: l.trigger, orderId: l.result !== null ? l.result.orderId : null })),
+            failedLeg: failed,
+            remediation: `Do NOT re-enter — the position is ${legs.length > 0 ? "only partly" : "NOT"} protected. Set the missing protection with: ${tpslHint}`,
+        });
+        if (!(Number(filled) > 0))
+            throw partial("TP/SL sizing", new Error(`verified fill ${fill.filledSize} is below one lot (${step})`));
+        if (pacifica !== null) {
+            const label = `tp ${prices.tp ?? "-"} / sl ${prices.sl ?? "-"}`;
+            try {
+                const raw = await pacifica.setPositionTpSl(sym, positionSide, { tp: prices.tp, tpLimit: null, sl: prices.sl });
+                legs.push({ kind: "tpsl", trigger: label, result: null, venueRaw: raw });
+            }
+            catch (e) {
+                throw partial(`position TP/SL (${label})`, e);
+            }
+            return { entry, filledSize: filled, method: "positionLevel", legs };
+        }
+        for (const [kind, trigger] of [["tp", prices.tp], ["sl", prices.sl]]) {
+            if (trigger === null)
+                continue;
+            try {
+                const r = await placeTpSlLeg(adapter, network(), { symbol: sym, closeSide, size: filled, trigger, kind, limitPrice: null, slippage });
+                legs.push({ kind, trigger, result: r, venueRaw: r.venueRaw });
+            }
+            catch (e) {
+                throw partial(legLabel({ kind, trigger }), e);
+            }
+        }
+        return { entry, filledSize: filled, method: "separateOrders", legs };
+    }
+    /** Human / JSON output of a protected entry. */
+    function printProtectedEntry(header, out, extra) {
+        const legsJson = out.legs.map(l => ({ kind: l.kind, trigger: l.trigger, ...(l.result !== null ? orderResultJson(l.result) : { venueRaw: l.venueRaw }) }));
+        if (isJson()) {
+            printJson(jsonOk({
+                ...(out.entry !== null ? orderResultJson(out.entry, extra) : { entry: null, ...extra }),
+                verifiedFilledSize: out.filledSize,
+                tpsl: { method: out.method, legs: legsJson },
+            }));
             return;
         }
-        const clientId = opts.autoId ? generateClientId() : opts.clientId;
-        if (clientId && isOrderDuplicate(clientId)) {
+        if (out.entry !== null)
+            printOrder(header, out.entry);
+        else
+            console.log(chalk.green(`\n  ${header}\n`));
+        console.log(chalk.green(`  Verified fill: ${out.filledSize}  ·  TP/SL (${out.method})`));
+        if (out.legs.length === 0)
+            console.log(chalk.gray("  Legs attached to the entry by the venue (see execution notes)"));
+        for (const l of out.legs) {
+            console.log(chalk.green(`  ${legLabel(l)}`));
+            if (l.result !== null)
+                for (const line of formatOrderResult(l.result))
+                    console.log(line);
+        }
+        console.log();
+    }
+    /** One market-order path for trade market / buy / sell (every venue via TradingV2; --smart = legacy smart-order). */
+    async function runMarketOrder(sym, side, rawSize, opts) {
+        // One parsed size for the risk check and the order ("1,000" / "abc" refused before anything else).
+        const size = parsePositiveDecimal(rawSize, "size");
+        const slippageFlag = parseSlippageBpsFlag(opts.slippageBps);
+        if (opts.clientId && isOrderDuplicate(opts.clientId)) {
             if (isJson())
-                return printJson(jsonOk({ duplicate: true, clientOrderId: clientId, message: "Order already submitted" }));
-            console.log(chalk.yellow(`\n  Duplicate order detected (clientId: ${clientId}). Skipping.\n`));
+                return printJson(jsonOk({ duplicate: true, clientOrderId: opts.clientId, message: "Order already submitted" }));
+            console.log(chalk.yellow(`\n  Duplicate order detected (clientId: ${opts.clientId}). Skipping.\n`));
             return;
         }
         const adapter = await getAdapter();
-        if (dryRunGuard("market_order", { exchange: adapter.name, symbol: sym, side: s, size, smart: !!opts.smart }))
+        const { def: venueDef, caps: venueCaps } = tradingVenueOf(adapter);
+        const clientId = opts.autoId ? autoClientId(venueDef, venueCaps, "market") : opts.clientId;
+        if (opts.smart && clientId !== undefined) {
+            throw unsupported(venueDef.displayName, "smartClientOrderId", "--smart orders are sent without a client order id, so the id would be dropped", "Omit --client-id / --auto-id, or omit --smart");
+        }
+        const reduceOnly = opts.reduceOnly === true;
+        const slippage = resolveSlippage(venueDef.id, slippageFlag);
+        if (opts.smart && !isLegacyOrderVenue(venueDef)) {
+            throw unsupported(venueDef.displayName, "smartOrder", "--smart needs the legacy limit-order path", "Omit --smart");
+        }
+        const prices = entryTpSl(opts);
+        if (prices !== null) {
+            if (opts.smart)
+                throw unsupported(venueDef.displayName, "tpslSmart", "--smart entries do not carry --tp/--sl", "Omit --smart");
+            refuseGatedReduceOnly(adapter);
+            refuseGatedStops(adapter);
+            prevalidateEntryTpSl(venueDef, venueCaps, side, reduceOnly, true, await markPriceOf(adapter, sym), "mark price", prices);
+        }
+        const req = opts.smart ? null : v2MarketRequest(venueDef, venueCaps, sym, side, size, reduceOnly, slippage, clientId);
+        // Read-only quarantine + local risk check BEFORE the dry-run return (review L5): a dry-run reports
+        // the same RISK_VIOLATION the live order would hit. --force skips the risk limits in both modes.
+        await openingOrderGate(adapter, { symbol: sym, size: Number(size), reduceOnly: opts.reduceOnly, force: opts.force });
+        if (await orderDryRunGuard("market_order", adapter, sym, { exchange: adapter.name, symbol: sym, side, size, smart: !!opts.smart, ...(prices !== null ? { tp: prices.tp ?? "none", sl: prices.sl ?? "none" } : {}) }))
             return;
         if (clientId) {
             logClientId({
                 clientOrderId: clientId, exchange: adapter.name,
-                symbol: symbol.toUpperCase(), side: s, size, type: "market",
+                symbol: sym, side, size, type: "market",
                 status: "pending", createdAt: new Date().toISOString(), updatedAt: new Date().toISOString(),
             });
         }
-        let result;
+        const meta = { ...(clientId ? { clientOrderId: clientId } : {}), ...(opts.smart ? { smart: true } : {}) };
+        let placed = null;
+        let smartResult = null;
+        let protectedOut = null;
         try {
-            if (opts.smart) {
-                const sr = await smartOrder(adapter, symbol.toUpperCase(), s, size);
-                result = { ...sr.result, smartOrder: { method: sr.method, price: sr.price, bestBookPrice: sr.bestBookPrice, tickSize: sr.tickSize } };
+            if (req === null) {
+                const sr = await smartOrder(adapter, sym, side, size, { reduceOnly, slippage });
+                smartResult = { ...sr.result, smartOrder: { method: sr.method, price: sr.price, bestBookPrice: sr.bestBookPrice, tickSize: sr.tickSize } };
+            }
+            else if (prices !== null) {
+                protectedOut = await placeProtectedEntry(adapter, venueDef, venueCaps, req, prices, slippage);
+                placed = protectedOut.entry;
             }
             else {
-                result = await adapter.marketOrder(symbol.toUpperCase(), s, size);
+                placed = await placeV2(v2Of(adapter), venueCaps, req);
             }
-            logExecution({
-                type: "market_order", exchange: adapter.name, symbol: symbol.toUpperCase(),
-                side: s, size, status: "success", dryRun: false,
-                meta: { ...(clientId ? { clientOrderId: clientId } : {}), ...(opts.smart ? { smart: true } : {}) },
-            });
+            logExecution({ type: "market_order", exchange: adapter.name, symbol: sym, side, size, status: "success", dryRun: false, meta });
         }
         catch (err) {
-            logExecution({
-                type: "market_order", exchange: adapter.name, symbol: symbol.toUpperCase(),
-                side: s, size, status: "failed", dryRun: false,
-                error: extractErrorMessage(err),
-                meta: { ...(clientId ? { clientOrderId: clientId } : {}), ...(opts.smart ? { smart: true } : {}) },
-            });
+            logExecution({ type: "market_order", exchange: adapter.name, symbol: sym, side, size, status: isOutcomeUnknown(err) ? "unverified" : "failed", dryRun: false, error: extractErrorMessage(err), meta });
             throw err;
         }
         if (clientId) {
             logClientId({
                 clientOrderId: clientId, exchange: adapter.name,
-                symbol: symbol.toUpperCase(), side: s, size, type: "market",
+                symbol: sym, side, size, type: "market",
                 status: "submitted", createdAt: new Date().toISOString(), updatedAt: new Date().toISOString(),
             });
         }
+        const header = `Market ${side.toUpperCase()} ${size} ${sym} on ${adapter.name}${opts.smart ? " (smart)" : ""}${clientId ? ` (id: ${clientId})` : ""}`;
+        if (protectedOut !== null)
+            return printProtectedEntry(header, protectedOut, placed !== null ? trackedId(placed, clientId) : undefined);
+        if (placed === null) {
+            // --smart keeps the raw smart-order result shape.
+            if (isJson())
+                return printJson(jsonOk(clientId ? { ...smartResult, clientOrderId: clientId } : smartResult));
+            console.log(chalk.green(`\n  ${header} placed.\n`));
+            return;
+        }
         if (isJson())
-            return printJson(jsonOk(clientId ? { ...result, clientOrderId: clientId } : result));
-        console.log(chalk.green(`\n  Market ${s.toUpperCase()} ${size} ${symbol.toUpperCase()} placed on ${adapter.name}.${opts.smart ? " (smart)" : ""}${clientId ? ` (id: ${clientId})` : ""}\n`));
+            return printJson(jsonOk(orderResultJson(placed, trackedId(placed, clientId))));
+        printOrder(header, placed);
+    }
+    const trade = program.command("trade").description("Trading commands");
+    // === Generic commands (all exchanges) ===
+    supportsDryRun(trade.command("market <symbol> <side> <size>"))
+        .description("Place a market order (side: buy/sell)")
+        .option("--reduce-only", "Reduce only order")
+        .option("--smart", "Smart execution: IOC limit at best bid/ask + 1 tick (reduces slippage)")
+        .option("--split", "Use orderbook-aware split execution for large orders")
+        .option("--max-slippage <pct>", "--split only: max price impact per split slice (%) — not the market-order slippage bound", "0.3")
+        .option("--client-id <id>", "Client order ID for idempotent tracking")
+        .option("--auto-id", "Auto-generate a client order ID")
+        .option("--force", "Bypass local risk-limit checks (maxPosition / total exposure)")
+        .option("--slippage-bps <n>", "Slippage bound in bps (default: settings defaultSlippageBps)")
+        .option("--tp <price>", "Take-profit trigger protecting this entry's verified fill (every venue; separate-order venues need a market / IOC entry)")
+        .option("--sl <price>", "Stop-loss trigger protecting this entry's verified fill (every venue; separate-order venues need a market / IOC entry)")
+        .action(async (symbol, side, size, opts) => {
+        const s = side.toLowerCase();
+        if (s !== "buy" && s !== "sell")
+            errorAndExit("Side must be buy or sell");
+        const sym = symbol.toUpperCase();
+        // ── Split execution branch ──
+        if (opts.split) {
+            // runSplitOrder has no reduce-only path — refuse rather than silently place opening orders.
+            if (opts.reduceOnly)
+                errorAndExit("--reduce-only is not supported with --split");
+            if (opts.tp !== undefined || opts.sl !== undefined)
+                throw new PerpError("INVALID_PARAMS", "--tp/--sl are not supported with --split (no single verified entry fill to protect)");
+            const baseSize = Number(parsePositiveDecimal(size, "size"));
+            const adapter = await getAdapter();
+            // No mark price → the base size cannot be valued in USD; never treated as a USD amount.
+            const markPrice = await splitMarkPrice(adapter, sym);
+            // Split slices are opening orders: quarantine + risk limits before the dry-run return (--force: limits only).
+            await openingOrderGate(adapter, { symbol: sym, size: baseSize, price: markPrice, force: opts.force });
+            if (await orderDryRunGuard("split-order", adapter, sym, { exchange: adapter.name, symbol: sym, side: s, size }))
+                return;
+            await runSplit(adapter, sym, s, baseSize * markPrice, { maxSlippagePct: parseFloat(opts.maxSlippage ?? "0.3") });
+            return;
+        }
+        await runMarketOrder(sym, s, size, opts);
     });
     // Shortcuts: trade buy / trade sell
-    trade
-        .command("buy <symbol> <size>")
+    supportsDryRun(trade.command("buy <symbol> <size>"))
         .description("Market buy (shortcut for: trade market <symbol> buy <size>)")
-        .option("-s, --slippage <pct>", "Slippage percent", "1")
         .option("--reduce-only", "Reduce only order")
         .option("--smart", "Smart execution: IOC limit at best ask + 1 tick")
         .option("--client-id <id>", "Client order ID")
         .option("--auto-id", "Auto-generate client order ID")
+        .option("--force", "Bypass local risk-limit checks (maxPosition / total exposure)")
+        .option("--slippage-bps <n>", "Slippage bound in bps (default: settings defaultSlippageBps)")
+        .option("--tp <price>", "Take-profit trigger protecting this entry's verified fill (every venue; separate-order venues need a market / IOC entry)")
+        .option("--sl <price>", "Stop-loss trigger protecting this entry's verified fill (every venue; separate-order venues need a market / IOC entry)")
         .action(async (symbol, size, opts) => {
-        const clientId = opts.autoId ? generateClientId() : opts.clientId;
-        if (clientId && isOrderDuplicate(clientId)) {
-            if (isJson())
-                return printJson(jsonOk({ duplicate: true, clientOrderId: clientId, message: "Order already submitted" }));
-            console.log(chalk.yellow(`\n  Duplicate order detected (clientId: ${clientId}). Skipping.\n`));
-            return;
-        }
-        const adapter = await getAdapter();
-        if (dryRunGuard("market_order", { exchange: adapter.name, symbol: symbol.toUpperCase(), side: "buy", size, smart: !!opts.smart }))
-            return;
-        let result;
-        try {
-            if (opts.smart) {
-                const sr = await smartOrder(adapter, symbol.toUpperCase(), "buy", size);
-                result = { ...sr.result, smartOrder: { method: sr.method, price: sr.price, bestBookPrice: sr.bestBookPrice, tickSize: sr.tickSize } };
-            }
-            else {
-                result = await adapter.marketOrder(symbol.toUpperCase(), "buy", size);
-            }
-            logExecution({ type: "market_order", exchange: adapter.name, symbol: symbol.toUpperCase(), side: "buy", size, status: "success", dryRun: false, meta: opts.smart ? { smart: true } : undefined });
-        }
-        catch (err) {
-            logExecution({ type: "market_order", exchange: adapter.name, symbol: symbol.toUpperCase(), side: "buy", size, status: "failed", dryRun: false, error: extractErrorMessage(err) });
-            throw err;
-        }
-        if (isJson())
-            return printJson(jsonOk(clientId ? { ...result, clientOrderId: clientId } : result));
-        console.log(chalk.green(`\n  Market BUY ${size} ${symbol.toUpperCase()} placed on ${adapter.name}.${opts.smart ? " (smart)" : ""}\n`));
+        await runMarketOrder(symbol.toUpperCase(), "buy", size, opts);
     });
-    trade
-        .command("sell <symbol> <size>")
+    supportsDryRun(trade.command("sell <symbol> <size>"))
         .description("Market sell (shortcut for: trade market <symbol> sell <size>)")
-        .option("-s, --slippage <pct>", "Slippage percent", "1")
         .option("--reduce-only", "Reduce only order")
         .option("--smart", "Smart execution: IOC limit at best bid - 1 tick")
         .option("--client-id <id>", "Client order ID")
         .option("--auto-id", "Auto-generate client order ID")
+        .option("--force", "Bypass local risk-limit checks (maxPosition / total exposure)")
+        .option("--slippage-bps <n>", "Slippage bound in bps (default: settings defaultSlippageBps)")
+        .option("--tp <price>", "Take-profit trigger protecting this entry's verified fill (every venue; separate-order venues need a market / IOC entry)")
+        .option("--sl <price>", "Stop-loss trigger protecting this entry's verified fill (every venue; separate-order venues need a market / IOC entry)")
         .action(async (symbol, size, opts) => {
-        const clientId = opts.autoId ? generateClientId() : opts.clientId;
-        if (clientId && isOrderDuplicate(clientId)) {
-            if (isJson())
-                return printJson(jsonOk({ duplicate: true, clientOrderId: clientId, message: "Order already submitted" }));
-            console.log(chalk.yellow(`\n  Duplicate order detected (clientId: ${clientId}). Skipping.\n`));
-            return;
-        }
-        const adapter = await getAdapter();
-        if (dryRunGuard("market_order", { exchange: adapter.name, symbol: symbol.toUpperCase(), side: "sell", size, smart: !!opts.smart }))
-            return;
-        let result;
-        try {
-            if (opts.smart) {
-                const sr = await smartOrder(adapter, symbol.toUpperCase(), "sell", size);
-                result = { ...sr.result, smartOrder: { method: sr.method, price: sr.price, bestBookPrice: sr.bestBookPrice, tickSize: sr.tickSize } };
-            }
-            else {
-                result = await adapter.marketOrder(symbol.toUpperCase(), "sell", size);
-            }
-            logExecution({ type: "market_order", exchange: adapter.name, symbol: symbol.toUpperCase(), side: "sell", size, status: "success", dryRun: false, meta: opts.smart ? { smart: true } : undefined });
-        }
-        catch (err) {
-            logExecution({ type: "market_order", exchange: adapter.name, symbol: symbol.toUpperCase(), side: "sell", size, status: "failed", dryRun: false, error: extractErrorMessage(err) });
-            throw err;
-        }
-        if (isJson())
-            return printJson(jsonOk(clientId ? { ...result, clientOrderId: clientId } : result));
-        console.log(chalk.green(`\n  Market SELL ${size} ${symbol.toUpperCase()} placed on ${adapter.name}.${opts.smart ? " (smart)" : ""}\n`));
+        await runMarketOrder(symbol.toUpperCase(), "sell", size, opts);
     });
     // ── Split Order (orderbook-aware) ──
-    trade
-        .command("split <symbol> <side> <usd>")
+    supportsDryRun(trade.command("split <symbol> <side> <usd>"))
         .description("Orderbook-aware split execution — breaks large orders into slices based on depth")
         .option("--max-slippage <pct>", "Max slippage per slice (%)", "0.3")
         .option("--max-slices <n>", "Max number of slices", "10")
         .option("--delay <ms>", "Delay between slices in ms", "1000")
         .option("--min-slice <usd>", "Minimum slice size in USD", "100")
+        .option("--force", "Bypass local risk-limit checks (maxPosition / total exposure)")
         .action(async (symbol, side, usd, opts) => {
         const sym = symbol.toUpperCase();
         const orderSide = side.toLowerCase();
@@ -219,70 +920,96 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
         if (isNaN(totalUsd) || totalUsd <= 0)
             errorAndExit("USD amount must be > 0");
         const adapter = await getAdapter();
-        if (dryRunGuard("split-order", { exchange: adapter.name, symbol: sym, side: orderSide, totalUsd, ...opts }))
+        // Opening orders: quarantine + risk limits on size = usd / mark before the dry-run return (--force: limits only).
+        const markPrice = await splitMarkPrice(adapter, sym);
+        await openingOrderGate(adapter, { symbol: sym, size: totalUsd / markPrice, price: markPrice, force: opts.force });
+        if (await orderDryRunGuard("split-order", adapter, sym, { exchange: adapter.name, symbol: sym, side: orderSide, totalUsd, ...opts }))
             return;
-        const { runSplitOrder } = await import("../strategies/split-order.js");
-        const result = await runSplitOrder(adapter, {
-            symbol: sym,
-            side: orderSide,
-            totalSizeUsd: totalUsd,
+        await runSplit(adapter, sym, orderSide, totalUsd, {
             maxSlippagePct: parseFloat(opts.maxSlippage),
             maxSlices: parseInt(opts.maxSlices),
             delayMs: parseInt(opts.delay),
             minSliceUsd: parseFloat(opts.minSlice),
-        }, isJson() ? () => { } : (msg) => console.log(chalk.gray(`  ${msg}`)));
-        if (isJson())
-            return printJson(jsonOk(result));
-        const statusColor = result.status === "complete" ? chalk.green
-            : result.status === "partial" ? chalk.yellow
-                : chalk.red;
-        console.log(`\n  ${statusColor(result.status.toUpperCase())} | ${result.slices.length} slices`);
-        console.log(`  Filled: $${formatUsd(result.filledUsd)} / $${formatUsd(result.requestedUsd)}`);
-        console.log(`  Avg Price: $${formatUsd(result.avgPrice)}`);
-        console.log(`  Slippage: ${result.totalSlippagePct.toFixed(3)}%`);
-        console.log(`  Runtime: ${result.runtime.toFixed(1)}s\n`);
+        });
     });
-    trade
-        .command("limit <symbol> <side> <price> <size>")
+    supportsDryRun(trade.command("limit <symbol> <side> <price> <size>"))
         .description("Place a limit order")
-        .option("--tif <tif>", "Time in force: GTC, IOC, ALO (HL only), TOB (HL only)", "GTC")
+        .option("--tif <tif>", "Time in force: GTC (default, every venue) | IOC | FOK | ALO (post-only); venue aliases GTT / GTX / TOB accepted")
         .option("--reduce-only", "Reduce only order")
         .option("--client-id <id>", "Client order ID for idempotent tracking")
         .option("--auto-id", "Auto-generate a client order ID")
-        .action(async (symbol, side, price, size, opts) => {
+        .option("--force", "Bypass local risk-limit checks (maxPosition / total exposure)")
+        .option("--tp <price>", "Take-profit protecting this entry's fill (ondo / arcus: attached to any entry; other venues: --tif IOC entries only)")
+        .option("--sl <price>", "Stop-loss protecting this entry's fill (ondo / arcus: attached to any entry; other venues: --tif IOC entries only)")
+        .option("--slippage-bps <n>", "Slippage bound in bps for protection-priced TP/SL legs (default: settings slippageBps[venue] → defaultSlippageBps)")
+        .action(async (symbol, side, price, rawSize, opts) => {
         const s = side.toLowerCase();
         if (s !== "buy" && s !== "sell")
             errorAndExit("Side must be buy or sell");
-        const clientId = opts.autoId ? generateClientId() : opts.clientId;
-        if (clientId && isOrderDuplicate(clientId)) {
+        const sym = symbol.toUpperCase();
+        // One parsed size for the risk check and the order ("1,000" / "abc" refused up front).
+        const size = parsePositiveDecimal(rawSize, "size");
+        if (opts.clientId && isOrderDuplicate(opts.clientId)) {
             if (isJson())
-                return printJson(jsonOk({ duplicate: true, clientOrderId: clientId, message: "Order already submitted" }));
-            console.log(chalk.yellow(`\n  Duplicate order detected (clientId: ${clientId}). Skipping.\n`));
+                return printJson(jsonOk({ duplicate: true, clientOrderId: opts.clientId, message: "Order already submitted" }));
+            console.log(chalk.yellow(`\n  Duplicate order detected (clientId: ${opts.clientId}). Skipping.\n`));
             return;
         }
         const adapter = await getAdapter();
-        if (dryRunGuard("limit_order", { exchange: adapter.name, symbol: symbol.toUpperCase(), side: s, size, price }))
+        const { def: venueDef, caps: venueCaps } = tradingVenueOf(adapter);
+        const clientId = opts.autoId ? autoClientId(venueDef, venueCaps, "limit") : opts.clientId;
+        const tif = validateLegacyTif(venueDef, venueCaps, opts.tif ?? DEFAULT_TIF);
+        const req = {
+            symbol: sym, side: s, type: "limit", size, price,
+            triggerPrice: null, triggerSource: null, tif, reduceOnly: opts.reduceOnly === true,
+            clientOrderId: v2ClientOrderId(venueDef, venueCaps, clientId), slippage: null, tpsl: null,
+        };
+        validateOrderRequest(venueDef, venueCaps, req);
+        const prices = entryTpSl(opts);
+        if (prices !== null) {
+            if (!(Number(price) > 0))
+                throw new PerpError("INVALID_PARAMS", `limit price must be positive (got "${price}")`);
+            refuseGatedReduceOnly(adapter);
+            refuseGatedStops(adapter);
+            prevalidateEntryTpSl(venueDef, venueCaps, s, req.reduceOnly, tif === "IOC", Number(price), "limit price", prices);
+        }
+        // TP/SL legs of protection-priced venues (arcus, lighter) use the single resolved bound.
+        const slippageFlag = parseSlippageBpsFlag(opts.slippageBps);
+        if (slippageFlag !== null && prices === null) {
+            throw new PerpError("INVALID_PARAMS", "--slippage-bps applies to --tp/--sl legs of a limit order; a plain limit order has no slippage bound");
+        }
+        const tpslSlippage = prices !== null ? resolveSlippage(venueDef.id, slippageFlag) : null;
+        // Read-only quarantine + risk check before the dry-run return (L5) — same gate as the live order.
+        await openingOrderGate(adapter, { symbol: sym, size: Number(size), price: parseFloat(price), reduceOnly: opts.reduceOnly, force: opts.force });
+        if (await orderDryRunGuard("limit_order", adapter, sym, { exchange: adapter.name, symbol: sym, side: s, size, price, tif, ...(prices !== null ? { tp: prices.tp ?? "none", sl: prices.sl ?? "none" } : {}) }))
             return;
         if (clientId) {
             logClientId({
                 clientOrderId: clientId, exchange: adapter.name,
-                symbol: symbol.toUpperCase(), side: s, size, type: "limit",
+                symbol: sym, side: s, size, type: "limit",
                 status: "pending", createdAt: new Date().toISOString(), updatedAt: new Date().toISOString(),
             });
         }
         let result;
+        let protectedOut = null;
         try {
-            result = await adapter.limitOrder(symbol.toUpperCase(), s, price, size);
+            if (prices !== null && tpslSlippage !== null) {
+                protectedOut = await placeProtectedEntry(adapter, venueDef, venueCaps, { ...req, slippage: venueCaps.tpsl === "batchGroup" ? tpslSlippage : null }, prices, tpslSlippage);
+                result = protectedOut.entry;
+            }
+            else {
+                result = await placeV2(v2Of(adapter), venueCaps, req);
+            }
             logExecution({
-                type: "limit_order", exchange: adapter.name, symbol: symbol.toUpperCase(),
+                type: "limit_order", exchange: adapter.name, symbol: sym,
                 side: s, size, price, status: "success", dryRun: false,
                 meta: clientId ? { clientOrderId: clientId } : undefined,
             });
         }
         catch (err) {
             logExecution({
-                type: "limit_order", exchange: adapter.name, symbol: symbol.toUpperCase(),
-                side: s, size, price, status: "failed", dryRun: false,
+                type: "limit_order", exchange: adapter.name, symbol: sym,
+                side: s, size, price, status: isOutcomeUnknown(err) ? "unverified" : "failed", dryRun: false,
                 error: extractErrorMessage(err),
                 meta: clientId ? { clientOrderId: clientId } : undefined,
             });
@@ -291,132 +1018,167 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
         if (clientId) {
             logClientId({
                 clientOrderId: clientId, exchange: adapter.name,
-                symbol: symbol.toUpperCase(), side: s, size, type: "limit",
+                symbol: sym, side: s, size, type: "limit",
                 status: "submitted", createdAt: new Date().toISOString(), updatedAt: new Date().toISOString(),
             });
         }
+        const header = `Limit ${s.toUpperCase()} ${size} ${sym} @ $${price} on ${adapter.name}${clientId ? ` (id: ${clientId})` : ""}`;
+        if (protectedOut !== null)
+            return printProtectedEntry(header, protectedOut, result !== null ? trackedId(result, clientId) : undefined);
+        if (result === null)
+            throw new PerpError("EXCHANGE_ERROR", "unreachable: limit order produced no result");
         if (isJson())
-            return printJson(jsonOk(clientId ? { ...result, clientOrderId: clientId } : result));
-        console.log(chalk.green(`\n  Limit ${s.toUpperCase()} ${size} ${symbol.toUpperCase()} @ $${price} placed on ${adapter.name}.${clientId ? ` (id: ${clientId})` : ""}\n`));
+            return printJson(jsonOk(orderResultJson(result, trackedId(result, clientId))));
+        printOrder(header, result);
     });
-    trade
-        .command("cancel <symbolOrOrderId> [orderId]")
-        .description("Cancel order(s) — by orderId, by symbol + orderId, or by symbol name (cancels all orders for that symbol)")
+    supportsDryRun(trade.command("cancel <symbolOrOrderId> [orderId]"))
+        .description("Cancel order(s) — by orderId (or c:<clientOrderId> on ondo/arcus/qfex/pacifica), by symbol + orderId / c:<clientOrderId> (every venue with client ids: also hyperliquid, aster, lighter, lighter-rh), or by symbol name (cancels all orders for that symbol)")
         .action(async (symbolOrOrderId, orderId) => {
         const adapter = await getAdapter();
-        if (orderId) {
-            // cancel <symbol> <orderId>
-            const symbol = symbolOrOrderId.toUpperCase();
-            const oid = orderId;
-            if (dryRunGuard("cancel", { exchange: adapter.name, symbol, orderId: oid }))
+        const v2 = v2Of(adapter);
+        /** Cancel one order by reference through TradingV2 and print the uniform result. */
+        const cancelOne = async (symbol, refText) => {
+            const ref = parseOrderRef(refText);
+            if (dryRunGuard("cancel", { exchange: adapter.name, symbol, orderId: refText }))
                 return;
+            let result;
             try {
-                const result = await adapter.cancelOrder(symbol, oid);
-                logExecution({ type: "cancel", exchange: adapter.name, symbol, side: "cancel", size: "0", status: "success", dryRun: false, meta: { orderId: oid } });
-                if (isJson())
-                    return printJson(jsonOk(result));
-                console.log(chalk.green(`\n  Order ${oid} cancelled on ${adapter.name}.\n`));
+                result = await v2.cancelByRef(symbol, ref);
+                logExecution({ type: "cancel", exchange: adapter.name, symbol, side: "cancel", size: "0", status: result.failed.length > 0 ? "failed" : (result.pending ?? []).length > 0 ? "unverified" : "success", dryRun: false, meta: { orderId: refText } });
             }
             catch (err) {
-                logExecution({ type: "cancel", exchange: adapter.name, symbol, side: "cancel", size: "0", status: "failed", dryRun: false, error: extractErrorMessage(err), meta: { orderId: oid } });
+                logExecution({ type: "cancel", exchange: adapter.name, symbol, side: "cancel", size: "0", status: "failed", dryRun: false, error: extractErrorMessage(err), meta: { orderId: refText } });
                 throw err;
             }
+            const incomplete = cancelIncompleteError(result, symbol);
+            if (incomplete !== null) {
+                if (!isJson())
+                    printCancel(result, symbol);
+                throw incomplete;
+            }
+            if (isJson())
+                return printJson(jsonOk({ ...result, legacy: result.venueRaw }));
+            printCancel(result, symbol);
+        };
+        if (orderId) {
+            // cancel <symbol> <orderId>
+            await cancelOne(symbolOrOrderId.toUpperCase(), orderId);
+            return;
+        }
+        // Single argument — an order reference (c:<clientOrderId>, numeric / UUID / 0x-hex order id)
+        // or a symbol name. An explicit order reference is never treated as a symbol.
+        const ref = parseOrderRef(symbolOrOrderId);
+        const { def: venueDef } = tradingVenueOf(adapter);
+        const twoArgHint = `perp trade cancel <symbol> ${symbolOrOrderId} -e ${venueDef.id}`;
+        if (ref.kind === "clientOrderId") {
+            // Open-order listings carry no client id, so the symbol cannot be looked up from it.
+            if (!SYMBOLLESS_CANCEL_VENUES.has(venueDef.id)) {
+                throw new PerpError("INVALID_PARAMS", `${venueDef.displayName} cancels a client order id within a market — the symbol is required`, {
+                    remediation: `Pass the symbol: ${twoArgHint}`,
+                });
+            }
+            await cancelOne("", symbolOrOrderId);
             return;
         }
-        // Single argument — is it an orderId (numeric) or a symbol name?
-        const isNumeric = /^\d+$/.test(symbolOrOrderId);
-        if (isNumeric) {
+        if (looksLikeOrderId(symbolOrOrderId)) {
             // cancel <orderId> — look up symbol from open orders
             const oid = symbolOrOrderId;
             const orders = await adapter.getOpenOrders();
             const match = orders.find((o) => String(o.orderId) === oid);
             if (!match) {
-                const err = `Order ${oid} not found in open orders`;
-                if (isJson())
-                    return printJson(jsonOk({ cancelled: false, reason: err }));
-                console.log(chalk.yellow(`\n  ${err}\n`));
-                return;
-            }
-            const symbol = match.symbol;
-            if (dryRunGuard("cancel", { exchange: adapter.name, symbol, orderId: oid }))
-                return;
-            try {
-                const result = await adapter.cancelOrder(symbol, oid);
-                logExecution({ type: "cancel", exchange: adapter.name, symbol, side: "cancel", size: "0", status: "success", dryRun: false, meta: { orderId: oid } });
-                if (isJson())
-                    return printJson(jsonOk(result));
-                console.log(chalk.green(`\n  Order ${oid} cancelled on ${adapter.name}.\n`));
-            }
-            catch (err) {
-                logExecution({ type: "cancel", exchange: adapter.name, symbol, side: "cancel", size: "0", status: "failed", dryRun: false, error: extractErrorMessage(err), meta: { orderId: oid } });
-                throw err;
+                throw new PerpError("ORDER_NOT_FOUND", `Order ${oid} not found in the open orders on ${venueDef.displayName}; nothing was cancelled`, {
+                    exchange: adapter.name,
+                    remediation: `Check open orders (perp account orders -e ${venueDef.id}); if it is a stop / trigger not listed there, pass the symbol: ${twoArgHint}`,
+                });
             }
+            await cancelOne(match.symbol, oid);
+            return;
         }
-        else {
-            // cancel <symbol> — cancel all open orders for this symbol
-            const symbol = symbolOrOrderId.toUpperCase();
-            const orders = await adapter.getOpenOrders();
-            const matching = orders.filter((o) => symbolMatch(o.symbol, symbol));
-            if (matching.length === 0) {
-                const err = `No open orders found for ${symbol}`;
-                if (isJson())
-                    return printJson(jsonOk({ cancelled: false, symbol, reason: err }));
-                console.log(chalk.yellow(`\n  ${err}\n`));
-                return;
-            }
-            if (dryRunGuard("cancel_by_symbol", { exchange: adapter.name, symbol, count: matching.length }))
-                return;
-            try {
-                const result = await adapter.cancelAllOrders(symbol);
-                logExecution({ type: "cancel", exchange: adapter.name, symbol, side: "cancel", size: "0", status: "success", dryRun: false, meta: { bySymbol: true, count: matching.length } });
-                if (isJson())
-                    return printJson(jsonOk({ cancelled: true, symbol, count: matching.length, result }));
-                console.log(chalk.green(`\n  ${matching.length} order(s) for ${symbol} cancelled on ${adapter.name}.\n`));
-            }
-            catch (err) {
-                logExecution({ type: "cancel", exchange: adapter.name, symbol, side: "cancel", size: "0", status: "failed", dryRun: false, error: extractErrorMessage(err), meta: { bySymbol: true } });
-                throw err;
-            }
+        // cancel <symbol> — cancel all open orders for this symbol
+        const symbol = symbolOrOrderId.toUpperCase();
+        const orders = await adapter.getOpenOrders();
+        const matching = orders.filter((o) => symbolMatch(o.symbol, symbol));
+        if (matching.length === 0) {
+            const err = `No open orders found for ${symbol}`;
+            if (isJson())
+                return printJson(jsonOk({ cancelled: false, symbol, reason: err }));
+            console.log(chalk.yellow(`\n  ${err}\n`));
+            return;
         }
+        if (dryRunGuard("cancel_by_symbol", { exchange: adapter.name, symbol, count: matching.length }))
+            return;
+        let result;
+        try {
+            result = await v2.cancelAllV2(symbol);
+            logExecution({ type: "cancel", exchange: adapter.name, symbol, side: "cancel", size: "0", status: result.failed.length > 0 ? "failed" : (result.pending ?? []).length > 0 ? "unverified" : "success", dryRun: false, meta: { bySymbol: true, count: matching.length } });
+        }
+        catch (err) {
+            logExecution({ type: "cancel", exchange: adapter.name, symbol, side: "cancel", size: "0", status: "failed", dryRun: false, error: extractErrorMessage(err), meta: { bySymbol: true } });
+            throw err;
+        }
+        const incomplete = cancelIncompleteError(result, symbol);
+        if (incomplete !== null) {
+            if (!isJson())
+                printCancel(result, symbol);
+            throw incomplete;
+        }
+        if (isJson())
+            return printJson(jsonOk({ ...result, symbol, legacy: result.venueRaw }));
+        printCancel(result, symbol);
     });
-    trade
-        .command("cancel-all")
+    supportsDryRun(trade.command("cancel-all"))
         .description("Cancel all open orders")
         .action(async () => {
         const adapter = await getAdapter();
         if (dryRunGuard("cancel_all", { exchange: adapter.name }))
             return;
-        const result = await adapter.cancelAllOrders();
+        // Per-order proof (cancelAllV2): only orders the venue result proves are reported cancelled.
+        const result = await v2Of(adapter).cancelAllV2(null);
+        logExecution({ type: "cancel", exchange: adapter.name, symbol: "", side: "cancel", size: "0", dryRun: false,
+            status: result.failed.length > 0 ? "failed" : (result.pending ?? []).length > 0 ? "unverified" : "success", meta: { all: true, cancelled: result.cancelled.length } });
+        const incomplete = cancelIncompleteError(result, "all");
+        if (incomplete !== null) {
+            if (!isJson())
+                printCancel(result, "all");
+            throw incomplete;
+        }
         if (isJson())
-            return printJson(jsonOk(result));
-        console.log(chalk.green(`\n  All orders cancelled on ${adapter.name}.\n`));
+            return printJson(jsonOk({ ...result, legacy: result.venueRaw }));
+        printCancel(result, "all");
     });
     // === TWAP — Pacifica (seconds) + Hyperliquid (minutes) ===
     trade
         .command("twap <symbol> <side> <size> <duration>")
         .description("Place a TWAP order (Pacifica: seconds, HL: minutes, Lighter/any: client-side via --background)")
-        .option("-s, --slippage <pct>", "Slippage percent", "1")
+        .option("--slippage-bps <n>", "Slippage bound in bps for Pacifica native TWAP (default: settings slippageBps[venue] → defaultSlippageBps)")
         .option("--reduce-only", "Reduce only order")
         .option("--background", "Run client-side TWAP in background (tmux) — works on all exchanges")
         .option("--slices <n>", "Number of slices for client-side TWAP")
-        .action(async (symbol, side, size, duration, opts) => {
+        .option("--force", "Bypass local risk-limit checks (maxPosition / total exposure)")
+        .action(async (symbol, side, rawSize, duration, opts) => {
         const s = side.toLowerCase();
         if (s !== "buy" && s !== "sell")
             errorAndExit("Side must be buy or sell");
+        // One parsed size for the risk check and the order ("1,000" / "abc" refused up front).
+        const size = parsePositiveDecimal(rawSize, "size");
         // --background → client-side TWAP via tmux job
         if (opts.background) {
-            const { startJob } = await import("../jobs.js");
-            const exchange = (await getAdapter()).name;
+            const { startJob, jobSelectorsOf } = await import("../jobs.js");
+            const bgAdapter = await getAdapter();
+            const exchange = bgAdapter.name;
+            // Risk check (and its --force bypass) runs here: the child `strategy twap` has none.
+            await openingOrderGate(bgAdapter, { symbol: symbol.toUpperCase(), size: Number(size), reduceOnly: opts.reduceOnly, force: opts.force });
             const cliArgs = [
-                symbol.toUpperCase(), s, size, duration,
+                "strategy", "twap", symbol.toUpperCase(), s, size, duration,
                 ...(opts.slices ? ["--slices", opts.slices] : []),
+                ...(opts.reduceOnly ? ["--reduce-only"] : []),
             ];
-            // Pass exchange flag through
             const job = startJob({
                 strategy: "twap",
                 exchange,
-                params: { symbol: symbol.toUpperCase(), side: s, size, duration, slices: opts.slices },
-                cliArgs: [`-e`, exchange, ...cliArgs],
+                params: { symbol: symbol.toUpperCase(), side: s, size, duration, slices: opts.slices, reduceOnly: opts.reduceOnly === true },
+                venue: exchange, network: networkOf(program), dryRun: isDryRun(), selectors: jobSelectorsOf(program),
+                cliArgs,
             });
             if (isJson())
                 return printJson(jsonOk(job));
@@ -428,24 +1190,29 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
             return;
         }
         const adapter = await getAdapter();
+        await openingOrderGate(adapter, { symbol: symbol.toUpperCase(), size: Number(size), reduceOnly: opts.reduceOnly, force: opts.force });
         // Native TWAP: Pacifica (SDK) or Hyperliquid (twapOrder)
         // Fallback: client-side TWAP for any exchange without native support
         let result;
         if (hasPacificaSdk(adapter)) {
+            // One slippage resolver (design §13.2): bps → Pacifica's slippage_percent.
+            const slippage = resolveAdapterSlippage(adapter, parseSlippageBpsFlag(opts.slippageBps));
+            requirePacificaTwapSigner(adapter, "TWAP order");
             const sdk = adapter.sdk;
             result = await sdk.createTWAP({
                 symbol: symbol.toUpperCase(),
                 amount: size,
                 side: s === "buy" ? "bid" : "ask",
-                slippage_percent: opts.slippage,
+                slippage_percent: String(slippage.bps / 100),
                 reduce_only: opts.reduceOnly ?? false,
                 duration_in_seconds: parseInt(duration),
             }, adapter.publicKey, adapter.signer);
         }
         else if (isTwapCapable(adapter)) {
-            const minutes = parseInt(duration);
-            if (minutes < 5 || minutes > 1440)
-                errorAndExit("HL TWAP duration must be 5-1440 minutes");
+            // Bounds (5 minutes – 7 days, $100 minimum total size) are pre-checked in twapOrder (hlAssertTwapBounds).
+            if (!/^\d+$/.test(duration.trim()))
+                errorAndExit("HL TWAP duration must be a whole number of minutes");
+            const minutes = Number(duration.trim());
             result = await adapter.twapOrder(symbol.toUpperCase(), s, size, minutes, { reduceOnly: opts.reduceOnly });
         }
         else {
@@ -457,7 +1224,9 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
                 totalSize: parseFloat(size),
                 durationSec: parseInt(duration),
                 slices: opts.slices ? parseInt(opts.slices) : undefined,
-            });
+                reduceOnly: opts.reduceOnly === true,
+            }, undefined, isJson() ? (m) => console.error(m) : undefined);
+            // JSON mode: progress goes to stderr so stdout stays one JSON document.
             if (isJson())
                 return printJson(jsonOk(twapResult));
             return;
@@ -466,104 +1235,199 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
             return printJson(jsonOk(result));
         console.log(chalk.green(`\n  TWAP ${s.toUpperCase()} ${size} ${symbol.toUpperCase()} over ${duration} placed on ${adapter.name}.\n`));
     });
-    // === Stop / Trigger orders — Pacifica + Hyperliquid ===
-    trade
-        .command("stop <symbol> <side> <size> <stopPrice>")
-        .description("Place a stop order")
+    // === Stop / Trigger orders (every trading venue) ===
+    supportsDryRun(trade.command("stop <symbol> <side> <size> <stopPrice>"))
+        .description("Place a stop order (market trigger; --limit-price makes it stop-limit). Reduce-only by default on every venue (BEHAVIOR CHANGE: pass --no-reduce-only to let it open / flip a position). Limit-priced market triggers (lighter, arcus) fill only within trigger ± the slippage bound — a fast move can leave them unfilled")
         .option("--limit-price <price>", "Limit price (makes it stop-limit)")
-        .option("--reduce-only", "Reduce only order")
-        .action(async (symbol, side, size, stopPrice, opts) => {
+        .option("--no-reduce-only", "Allow the triggered order to open or flip a position (default: reduce-only)")
+        .option("--trigger-type <type>", "Trigger price source: mark | last | mid (pacifica; aster mark | last; other venues: unsupported)")
+        .option("--slippage-bps <n>", "Bound for protection-priced market triggers (lighter, arcus) in bps, around the trigger price (default: settings)")
+        .option("--force", "With --no-reduce-only: bypass local risk-limit checks (maxPosition / total exposure)")
+        .action(async (symbol, side, rawSize, stopPrice, opts) => {
         const s = side.toLowerCase();
         if (s !== "buy" && s !== "sell")
             errorAndExit("Side must be buy or sell");
+        const size = parsePositiveDecimal(rawSize, "size");
+        if (opts.triggerType && !["mark", "last", "mid"].includes(opts.triggerType)) {
+            errorAndExit("--trigger-type must be one of: mark, last, mid");
+        }
+        const sym = symbol.toUpperCase();
         const adapter = await getAdapter();
-        if (dryRunGuard("stop_order", { exchange: adapter.name, symbol: symbol.toUpperCase(), side: s, size, price: stopPrice }))
+        const { def: venueDef, caps: venueCaps } = tradingVenueOf(adapter);
+        const isLimit = opts.limitPrice !== undefined;
+        const slippageFlag = parseSlippageBpsFlag(opts.slippageBps);
+        if (slippageFlag !== null) {
+            if (isLimit)
+                throw new PerpError("INVALID_PARAMS", "--slippage-bps applies to market triggers only; a stop-limit executes at --limit-price");
+            if (venueDef.family !== "lighter" && venueDef.id !== "arcus") {
+                throw unsupported(venueDef.displayName, "stopSlippage", "market triggers on this venue are venue-native market orders (no slippage bound)", "Omit --slippage-bps, or use --limit-price");
+            }
+        }
+        const req = {
+            symbol: sym, side: s, type: isLimit ? "stopLimit" : "stopMarket", size,
+            price: isLimit ? opts.limitPrice : null,
+            triggerPrice: stopPrice,
+            triggerSource: opts.triggerType !== undefined ? opts.triggerType : null,
+            tif: isLimit ? validateLegacyTif(venueDef, venueCaps, DEFAULT_TIF) : null,
+            reduceOnly: opts.reduceOnly !== false,
+            clientOrderId: v2ClientOrderId(venueDef, venueCaps, undefined),
+            // Market triggers carry the resolved bound (used by protection-priced venues; native triggers ignore it).
+            slippage: isLimit ? null : resolveSlippage(venueDef.id, slippageFlag),
+            tpsl: null,
+        };
+        validateOrderRequest(venueDef, venueCaps, req);
+        // --no-reduce-only can open / flip: quarantine + risk limits at the price it would execute at
+        // (limit price, else the trigger), before the dry-run return. Reduce-only stops are exempt.
+        if (!req.reduceOnly) {
+            await openingOrderGate(adapter, { symbol: sym, size: Number(size), price: parseFloat(opts.limitPrice ?? stopPrice), force: opts.force });
+        }
+        if (await orderDryRunGuard("stop_order", adapter, sym, { exchange: adapter.name, symbol: sym, side: s, size, price: stopPrice, reduceOnly: req.reduceOnly }))
             return;
         let result;
         try {
-            result = await adapter.stopOrder(symbol.toUpperCase(), s, size, stopPrice, { limitPrice: opts.limitPrice, reduceOnly: opts.reduceOnly });
-            logExecution({ type: "stop_order", exchange: adapter.name, symbol: symbol.toUpperCase(), side: s, size, price: stopPrice, status: "success", dryRun: false });
+            result = await placeV2(v2Of(adapter), venueCaps, req);
+            logExecution({ type: "stop_order", exchange: adapter.name, symbol: sym, side: s, size, price: stopPrice, status: "success", dryRun: false, meta: { reduceOnly: req.reduceOnly } });
         }
         catch (err) {
-            logExecution({ type: "stop_order", exchange: adapter.name, symbol: symbol.toUpperCase(), side: s, size, price: stopPrice, status: "failed", dryRun: false, error: extractErrorMessage(err) });
+            logExecution({ type: "stop_order", exchange: adapter.name, symbol: sym, side: s, size, price: stopPrice, status: isOutcomeUnknown(err) ? "unverified" : "failed", dryRun: false, error: extractErrorMessage(err), meta: { reduceOnly: req.reduceOnly } });
             throw err;
         }
         if (isJson())
-            return printJson(jsonOk(result));
-        console.log(chalk.green(`\n  Stop order placed on ${adapter.name}.\n`));
-    });
-    // === TP/SL — Pacifica + Hyperliquid ===
-    trade
-        .command("tpsl <symbol> <side>")
-        .description("Set take-profit / stop-loss on a position (side: the side to CLOSE — buy to close short, sell to close long)")
-        .option("--tp <price>", "Take profit trigger price")
-        .option("--tp-limit <price>", "Take profit limit price")
-        .option("--sl <price>", "Stop loss trigger price")
-        .option("--size <size>", "Size (HL only, omit for full position)")
-        .action(async (symbol, side, opts) => {
-        const s = side.toLowerCase();
-        if (s !== "buy" && s !== "sell")
-            errorAndExit("Side must be buy or sell");
-        if (!opts.tp && !opts.sl)
-            errorAndExit("Must specify --tp and/or --sl");
+            return printJson(jsonOk(orderResultJson(result, { reduceOnly: req.reduceOnly })));
+        printOrder(`Stop ${s.toUpperCase()} ${size} ${sym} @ trigger $${stopPrice}${isLimit ? ` (limit $${opts.limitPrice})` : ""}${req.reduceOnly ? " (reduce-only)" : " (may open / flip)"} on ${adapter.name}`, result);
+    });
+    // === TP/SL on an open position (every venue with TP/SL) ===
+    supportsDryRun(trade.command("tpsl <symbol> <positionSide>"))
+        .description("Set take-profit / stop-loss on an OPEN position. positionSide = the position's side: long | short (BEHAVIOR CHANGE: buy/sell no longer accepted). Checked against the live position; legs are reduce-only and sized to the live position (or --size)")
+        .option("--tp <price>", "Take-profit trigger price (long: above mark; short: below)")
+        .option("--tp-limit <price>", "Take-profit limit price once triggered (default: market trigger)")
+        .option("--sl <price>", "Stop-loss trigger price (long: below mark; short: above)")
+        .option("--size <size>", "Protect only this much of the position (≤ position size; pacifica: whole position only)")
+        .option("--slippage-bps <n>", "Bound for protection-priced market triggers (lighter, arcus) in bps (default: settings)")
+        .action(async (symbol, positionSide, opts) => {
+        const ps = positionSide.toLowerCase();
+        if (ps !== "long" && ps !== "short") {
+            throw new PerpError("INVALID_PARAMS", `positionSide must be long or short (got "${positionSide}")`, {
+                remediation: "Pass the side of the position to protect: long or short (buy/sell were ambiguous and are no longer accepted)",
+            });
+        }
+        const prices = { tp: positivePriceOpt(opts.tp, "--tp"), sl: positivePriceOpt(opts.sl, "--sl") };
+        if (prices.tp === null && prices.sl === null)
+            throw new PerpError("INVALID_PARAMS", "Must specify --tp and/or --sl");
+        const tpLimit = positivePriceOpt(opts.tpLimit, "--tp-limit");
+        if (tpLimit !== null && prices.tp === null)
+            throw new PerpError("INVALID_PARAMS", "--tp-limit needs --tp");
+        const sym = symbol.toUpperCase();
         const adapter = await getAdapter();
-        if (dryRunGuard("tpsl", { exchange: adapter.name, symbol: symbol.toUpperCase(), side: s, tp: opts.tp ?? "none", sl: opts.sl ?? "none" }))
-            return;
-        if (hasPacificaSdk(adapter)) {
-            // TP/SL side is opposite of position: LONG position → "ask" to close
-            const params = {
-                symbol: symbol.toUpperCase(),
-                side: s === "buy" ? "ask" : "bid",
-            };
-            if (opts.tp)
-                params.take_profit = { stop_price: opts.tp, limit_price: opts.tpLimit };
-            if (opts.sl)
-                params.stop_loss = { stop_price: opts.sl };
-            const sdk = adapter.sdk;
-            const result = await sdk.setTPSL(params, adapter.publicKey, adapter.signer);
-            if (isJson())
-                return printJson(jsonOk(result));
-            console.log(chalk.green(`\n  TP/SL set for ${symbol.toUpperCase()} on Pacifica.\n`));
+        const { def, caps } = tradingVenueOf(adapter);
+        if (caps.tpsl === null) {
+            throw unsupported(def.displayName, "tpsl", "the venue has no TP/SL orders", `Use stop orders: perp trade stop -e ${def.id} ...`);
         }
-        else if (isTriggerOrderCapable(adapter)) {
-            // HL uses trigger orders for TP/SL
-            const results = [];
-            const posSize = opts.size || "0"; // 0 = full position via positionTpsl grouping
-            if (opts.tp) {
-                results.push(await adapter.triggerOrder(symbol.toUpperCase(), s === "buy" ? "sell" : "buy", // Close opposite side
-                posSize, opts.tp, "tp", { isMarket: !opts.tpLimit, reduceOnly: true, grouping: "positionTpsl" }));
-            }
-            if (opts.sl) {
-                results.push(await adapter.triggerOrder(symbol.toUpperCase(), s === "buy" ? "sell" : "buy", posSize, opts.sl, "sl", { isMarket: true, reduceOnly: true, grouping: "positionTpsl" }));
-            }
-            if (isJson())
-                return printJson(jsonOk(results));
-            console.log(chalk.green(`\n  TP/SL set for ${symbol.toUpperCase()} on Hyperliquid.\n`));
+        if (opts.size !== undefined && caps.tpsl === "positionLevel") {
+            throw unsupported(def.displayName, "tpslSize", "TP/SL is position-level and always covers the whole position", "Omit --size");
+        }
+        refuseGatedReduceOnly(adapter);
+        refuseGatedStops(adapter);
+        const slippage = resolveSlippage(def.id, parseSlippageBpsFlag(opts.slippageBps));
+        // Validate against the live position (side, size, mark).
+        invalidateCache("acct");
+        const pos = (await adapter.getPositions()).find(p => symbolMatch(p.symbol, sym));
+        if (pos === undefined) {
+            throw new PerpError("INVALID_PARAMS", `No open ${sym} position on ${def.displayName} to protect`, { exchange: def.id, remediation: `Check: perp account positions -e ${def.id}` });
+        }
+        if (pos.side !== ps) {
+            throw new PerpError("INVALID_PARAMS", `The ${sym} position on ${def.displayName} is ${pos.side}, not ${ps}`, { exchange: def.id, remediation: `Run: perp trade tpsl ${sym} ${pos.side} ... -e ${def.id}` });
+        }
+        const posSize = pos.size.replace(/^-/, "");
+        if (!(Number(posSize) > 0))
+            throw new PerpError("EXCHANGE_ERROR", `${def.displayName} reports ${sym} position size "${pos.size}"`, { exchange: def.id });
+        let size = posSize;
+        if (opts.size !== undefined) {
+            if (!(Number(opts.size) > 0))
+                throw new PerpError("INVALID_PARAMS", `--size must be positive (got "${opts.size}")`);
+            if (Number(opts.size) > Number(posSize))
+                throw new PerpError("INVALID_PARAMS", `--size ${opts.size} exceeds the ${sym} position size ${posSize}`);
+            size = opts.size;
+        }
+        const mark = Number(pos.markPrice) > 0 ? Number(pos.markPrice) : await markPriceOf(adapter, sym);
+        checkTpSlDirection(ps, mark, "mark price", prices);
+        const closeSide = ps === "long" ? "sell" : "buy";
+        if (await orderDryRunGuard("tpsl", adapter, sym, { exchange: adapter.name, symbol: sym, positionSide: ps, size, tp: prices.tp ?? "none", sl: prices.sl ?? "none" }))
+            return;
+        const legs = [];
+        const hint = `perp account orders -e ${def.id}`;
+        const failAfter = (failed, e) => legs.length === 0 ? e : new PerpError("ORDER_PARTIAL", `TP/SL only partially set on ${sym}: ${legs.map(legLabel).join(", ")} placed, then ${failed} failed — ${extractErrorMessage(e)}`, {
+            exchange: def.id,
+            legsPlaced: legs.map(l => ({ kind: l.kind, trigger: l.trigger, orderId: l.result !== null ? l.result.orderId : null })),
+            failedLeg: failed,
+            remediation: `The position is protected on one side only. Inspect with: ${hint}, then place the missing leg or cancel the placed one.`,
+        });
+        if (caps.tpsl === "positionLevel") {
+            const pac = positionTpSlAdapter(adapter);
+            await refuseExistingPositionTpSl(pac, def, sym);
+            const raw = await pac.setPositionTpSl(sym, ps, { tp: prices.tp, tpLimit, sl: prices.sl });
+            legs.push({ kind: "tpsl", trigger: `tp ${prices.tp ?? "-"} / sl ${prices.sl ?? "-"}`, result: null, venueRaw: raw });
         }
         else {
-            // Fallback: use stopOrder for TP/SL (Lighter and others)
-            const closeSide = s === "buy" ? "sell" : "buy"; // Close opposite side
-            const results = [];
-            if (opts.tp) {
-                results.push(await adapter.stopOrder(symbol.toUpperCase(), closeSide, opts.size || "0", opts.tp, { limitPrice: opts.tpLimit, reduceOnly: true }));
-            }
-            if (opts.sl) {
-                results.push(await adapter.stopOrder(symbol.toUpperCase(), closeSide, opts.size || "0", opts.sl, { reduceOnly: true }));
+            for (const [kind, trigger] of [["tp", prices.tp], ["sl", prices.sl]]) {
+                if (trigger === null)
+                    continue;
+                const limitPrice = kind === "tp" ? tpLimit : null;
+                try {
+                    let r;
+                    if (caps.tpsl === "separateOrders") {
+                        r = await placeTpSlLeg(adapter, network(), { symbol: sym, closeSide, size, trigger, kind, limitPrice, slippage });
+                    }
+                    else {
+                        // attached (ondo) / batchGroup (arcus): a reduce-only position stop / TPSL leg (type chosen by the venue adapter).
+                        const req = {
+                            symbol: sym, side: closeSide, type: limitPrice !== null ? "stopLimit" : "stopMarket", size,
+                            price: limitPrice, triggerPrice: trigger, triggerSource: null,
+                            tif: limitPrice !== null ? validateLegacyTif(def, caps, DEFAULT_TIF) : null,
+                            reduceOnly: true, clientOrderId: v2ClientOrderId(def, caps, undefined),
+                            slippage: limitPrice !== null ? null : slippage, tpsl: null,
+                        };
+                        validateOrderRequest(def, caps, req);
+                        r = await placeV2(v2Of(adapter), caps, req);
+                    }
+                    legs.push({ kind, trigger, result: r, venueRaw: r.venueRaw });
+                }
+                catch (e) {
+                    throw failAfter(legLabel({ kind, trigger }), e);
+                }
             }
-            if (isJson())
-                return printJson(jsonOk(results));
-            console.log(chalk.green(`\n  TP/SL set for ${symbol.toUpperCase()} on ${adapter.name}.\n`));
         }
+        logExecution({ type: "stop_order", exchange: adapter.name, symbol: sym, side: closeSide, size, price: prices.sl ?? prices.tp ?? "", status: "success", dryRun: false, meta: { action: "tpsl", positionSide: ps, tp: prices.tp, sl: prices.sl } });
+        if (isJson()) {
+            return printJson(jsonOk({
+                symbol: sym, positionSide: ps, size, method: caps.tpsl,
+                legs: legs.map(l => ({ kind: l.kind, trigger: l.trigger, ...(l.result !== null ? orderResultJson(l.result) : { venueRaw: l.venueRaw }) })),
+            }));
+        }
+        console.log(chalk.green(`\n  TP/SL set for ${ps} ${size} ${sym} on ${def.displayName} (${caps.tpsl}, reduce-only):`));
+        for (const l of legs) {
+            console.log(chalk.green(`  ${legLabel(l)}`));
+            if (l.result !== null)
+                for (const line of formatOrderResult(l.result))
+                    console.log(line);
+        }
+        console.log();
     });
     // === Scaled Take-Profit (분할익절) ===
-    trade
-        .command("scale-tp <symbol>")
+    supportsDryRun(trade.command("scale-tp <symbol>"))
         .description("Place multiple take-profit limit orders at different price levels (분할익절)")
         .requiredOption("--levels <levels>", "[required] Comma-separated price:percent pairs (e.g., 72000:25,75000:25,80000:50)")
         .option("--size <size>", "Override total position size (default: uses current position)")
         .action(async (symbol, opts) => {
         const sym = symbol.toUpperCase();
         const adapter = await getAdapter();
+        if (adapter.name === "ondo") {
+            // docs.ondoperps.xyz take-profit-and-stop-loss: position TP/SL "Via Risk Management Module
+            // [POST /v1/perps/stop_order] ... applies to the full position, with a limit of one TP and one
+            // SL per market"; partial legs only "At Order Placement" (attached to each entry order). A
+            // resting reduce-only limit is refused too (reduce_only_invalid_tif) — no multi-level TP on a held position.
+            throw unsupported("Ondo", "scaleTp", "position-level stops allow one TP and one SL per market (docs: take-profit-and-stop-loss), and resting reduce-only limits are refused", `Set one (partial) take-profit: perp trade tpsl ${sym} <long|short> --tp <price> [--size <qty>] -e ondo, or attach --tp to each entry order`);
+        }
         // Parse levels: "72000:25,75000:25,80000:50"
         const levels = opts.levels.split(",").map(l => {
             const [price, pct] = l.trim().split(":");
@@ -577,90 +1441,96 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
             errorAndExit(`Percentages must sum to 100%. Got: ${totalPct}%`);
         }
         // Get current position to determine size and side
-        let totalSize;
+        let total;
         let closeSide;
-        if (opts.size) {
-            totalSize = parseFloat(opts.size);
-            // Need to know position side — fetch it
-            const positions = await adapter.getPositions();
-            const pos = positions.find(p => p.symbol.toUpperCase() === sym);
-            closeSide = pos?.side === "short" ? "buy" : "sell";
+        // The position decides the close side (and, without --size, the total). symbolMatch: venues
+        // report "ETH-PERP" (Hyperliquid) or "xyz:NVDA" (HIP-3) for the user's "ETH" / "NVDA".
+        const pos = (await adapter.getPositions()).find(p => symbolMatch(p.symbol, sym));
+        if (pos === undefined) {
+            // Never a guessed side: a take-profit on the wrong side would not reduce the position.
+            throw new PerpError("INVALID_PARAMS", `No open ${sym} position on ${adapter.name} — scale-tp places reduce-only take-profits on an open position`, {
+                exchange: adapter.name, remediation: `Check: perp account positions -e ${adapter.name}`,
+            });
         }
-        else {
-            const positions = await adapter.getPositions();
-            const pos = positions.find(p => p.symbol.toUpperCase() === sym);
-            if (!pos)
-                errorAndExit(`No open position for ${sym}. Use --size to specify manually.`);
-            totalSize = parseFloat(pos.size);
-            closeSide = pos.side === "long" ? "sell" : "buy";
+        const held = pos.size.replace(/^-/, "");
+        // Reduce-only take-profits can never add up to more than the position.
+        if (opts.size !== undefined && Number(opts.size) > Number(held)) {
+            throw new PerpError("SIZE_TOO_LARGE", `scale-tp --size ${opts.size} exceeds the open ${sym} ${pos.side} position (${held}) on ${adapter.name} — nothing was sent`, {
+                exchange: adapter.name, position: held, positionSide: pos.side,
+                remediation: `Use --size of at most ${held}, or omit --size to scale the whole position`,
+            });
         }
+        total = opts.size ? opts.size : held;
+        closeSide = pos.side === "long" ? "sell" : "buy";
+        // Level sizes on the venue lot (remainder to the last level), validated before anything is sent.
+        const sizes = scaleLevelSizes(total, levels.map(l => l.pct), await lotStepOf(adapter, sym));
+        const plan = levels.map((l, i) => ({ price: l.price, size: sizes[i], pct: l.pct }));
+        const reqs = await scaleRequests(adapter, sym, closeSide, true, plan);
         if (dryRunGuard("scale_tp", {
             exchange: adapter.name, symbol: sym, side: closeSide,
-            totalSize: totalSize.toString(),
-            levels: levels.map(l => `${l.price}@${l.pct}%`).join(", "),
+            totalSize: total,
+            levels: plan.map(l => `${l.price}@${l.pct}% (${l.size})`).join(", "),
         }))
             return;
         // Place reduce-only limit orders at each level
-        const results = [];
-        for (const level of levels) {
-            const levelSize = (totalSize * level.pct / 100).toString();
-            try {
-                const result = await adapter.limitOrder(sym, closeSide, level.price, levelSize, { reduceOnly: true });
-                results.push({ price: level.price, size: levelSize, pct: level.pct, result });
-                logExecution({
-                    type: "limit_order", exchange: adapter.name, symbol: sym,
-                    side: closeSide, size: levelSize, price: level.price,
-                    status: "success", dryRun: false,
-                    meta: { action: "scale-tp", pct: level.pct, reduceOnly: true },
-                });
-            }
-            catch (err) {
-                const msg = extractErrorMessage(err);
-                logExecution({
-                    type: "limit_order", exchange: adapter.name, symbol: sym,
-                    side: closeSide, size: levelSize, price: level.price,
-                    status: "failed", dryRun: false, error: msg,
-                    meta: { action: "scale-tp", pct: level.pct },
-                });
-                if (isJson()) {
-                    results.push({ price: level.price, size: levelSize, pct: level.pct, result: { error: msg } });
-                }
-                else {
-                    console.log(chalk.red(`  Failed: ${level.price} x ${levelSize} — ${msg}`));
-                }
-            }
+        const results = await placeScaleLevels(adapter, "scale-tp", sym, closeSide, plan, reqs);
+        const incomplete = scaleIncompleteError(adapter.name, `scale-tp ${sym}`, results);
+        if (incomplete !== null) {
+            if (!isJson())
+                printScaleLevels(`Scaled TP for ${sym} on ${adapter.name} is INCOMPLETE:`, sym, results);
+            throw incomplete;
         }
         if (isJson())
-            return printJson(jsonOk({ symbol: sym, side: closeSide, totalSize, levels: results }));
-        console.log(chalk.green(`\n  Scaled TP set for ${sym} on ${adapter.name}:\n`));
-        for (const r of results) {
-            const status = r.result?.error ? chalk.red("FAILED") : chalk.green("OK");
-            console.log(`  ${status}  $${r.price} — ${r.pct}% (${r.size} ${sym})`);
-        }
-        console.log();
+            return printJson(jsonOk({ symbol: sym, side: closeSide, totalSize: Number(total), levels: results }));
+        printScaleLevels(`Scaled TP set for ${sym} on ${adapter.name}:`, sym, results);
     });
     // === Pacifica-only commands ===
-    trade
-        .command("edit <symbol> <orderId> <price> <size>")
-        .description("Edit an existing order")
-        .action(async (symbol, orderId, price, size) => {
+    supportsDryRun(trade.command("edit <symbol> <orderId> <price> <size>"))
+        .description("Edit an existing order: new price and new open (unfilled) size; the order keeps its TIF / post-only (pacifica: re-created as ALO) — orderId, or c:<clientOrderId> on ondo/arcus/qfex (qfex: plain LIMIT / ALO only; the venue assigns a new order id, the client id is kept)")
+        .option("--tif <tif>", "Time-in-force of the replacement (cancel+replace venues only, e.g. ondo; ALO keeps post-only)")
+        .option("--force-tif", "Allow --tif to flip the order's post-only flag (ondo / pacifica); otherwise such a conflict is refused")
+        .action(async (symbol, orderId, price, size, opts) => {
         const adapter = await getAdapter();
+        prevalidateAmend(adapter);
+        const { def: venueDef, caps: venueCaps } = tradingVenueOf(adapter);
+        const amendTif = opts.tif !== undefined ? validateLegacyTif(venueDef, venueCaps, opts.tif) : null;
+        if (opts.forceTif === true && amendTif === null)
+            throw new PerpError("INVALID_PARAMS", "--force-tif needs --tif");
         if (dryRunGuard("edit_order", { exchange: adapter.name, symbol: symbol.toUpperCase(), orderId, price, size }))
             return;
-        const result = await adapter.editOrder(symbol.toUpperCase(), orderId, price, size);
+        const result = await v2Of(adapter).amendOrder({ symbol: symbol.toUpperCase(), ref: parseOrderRef(orderId), price, size, tif: amendTif, forceTif: opts.forceTif === true });
         if (isJson())
-            return printJson(jsonOk(result));
-        console.log(chalk.green(`\n  Order ${orderId} updated to $${price} x ${size} on ${adapter.name}.\n`));
+            return printJson(jsonOk(orderResultJson(result)));
+        printOrder(`Edit of ${orderId} → $${price} x ${size} on ${adapter.name}`, result);
     });
     trade
         .command("cancel-stop <symbol> <stopOrderId>")
-        .description("Cancel a stop order (Pacifica)")
+        .description("Cancel a stop / TP / SL order (pacifica; qfex: stop order id or c:<clientOrderId>; other venues: perp trade cancel)")
         .action(async (symbol, stopOrderId) => {
         const adapter = await getAdapter();
-        if (!hasPacificaSdk(adapter))
-            throw new Error("This command requires --exchange pacifica");
-        const sdk = adapter.sdk;
-        const result = await sdk.cancelStopOrder({ symbol: symbol.toUpperCase(), order_id: Number(stopOrderId) }, adapter.publicKey, adapter.signer);
+        if (adapter.name === "qfex" && isTradingV2(adapter)) {
+            // QFEX: cancelByRef reads the row first and routes a TAKE_PROFIT / STOP_LOSS row to cancel_stop_order.
+            const sym = symbol.toUpperCase();
+            if (dryRunGuard("cancel_stop", { exchange: adapter.name, symbol: sym, stopOrderId }))
+                return;
+            const r = await adapter.cancelByRef(sym, parseOrderRef(stopOrderId));
+            const incomplete = cancelIncompleteError(r, sym);
+            if (incomplete !== null) {
+                if (!isJson())
+                    printCancel(r, sym);
+                throw incomplete;
+            }
+            if (isJson())
+                return printJson(jsonOk({ ...r, legacy: r.venueRaw }));
+            printCancel(r, sym);
+            return;
+        }
+        const pac = adapter;
+        if (typeof pac.cancelStopOrder !== "function") {
+            const { def } = tradingVenueOf(adapter);
+            throw unsupported(def.displayName, "cancelStop", "stop orders are cancelled like any other order on this venue", `Use: perp trade cancel ${symbol.toUpperCase()} <orderId> -e ${def.id}`);
+        }
+        const result = await pac.cancelStopOrder(symbol, stopOrderId);
         if (isJson())
             return printJson(jsonOk(result));
         console.log(chalk.green(`\n  Stop order ${stopOrderId} cancelled.\n`));
@@ -669,11 +1539,17 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
         .command("cancel-twap <symbol> <twapOrderId>")
         .description("Cancel a TWAP order")
         .action(async (symbol, twapOrderId) => {
+        if (!/^\d+$/.test(twapOrderId)) {
+            throw new PerpError("INVALID_PARAMS", `TWAP order id must be a whole number (got "${twapOrderId}")`, {
+                remediation: "Pass the numeric TWAP id the venue reported when the TWAP was placed",
+            });
+        }
         const adapter = await getAdapter();
         let result;
         if (hasPacificaSdk(adapter)) {
+            requirePacificaTwapSigner(adapter, "TWAP cancel");
             const sdk = adapter.sdk;
-            result = await sdk.cancelTWAP({ symbol: symbol.toUpperCase(), twap_order_id: Number(twapOrderId) }, adapter.publicKey, adapter.signer);
+            result = await sdk.cancelTWAP({ symbol: symbol.toUpperCase(), order_id: Number(twapOrderId) }, adapter.publicKey, adapter.signer);
         }
         else if (isTwapCapable(adapter)) {
             result = await adapter.twapCancel(symbol.toUpperCase(), Number(twapOrderId));
@@ -686,21 +1562,26 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
         console.log(chalk.green(`\n  TWAP order ${twapOrderId} cancelled on ${adapter.name}.\n`));
     });
     // === Hyperliquid-only commands ===
-    trade
-        .command("leverage <symbol> <leverage>")
+    supportsDryRun(trade.command("leverage <symbol> <leverage>"))
         .description("Set leverage for a symbol")
         .option("--isolated", "Use isolated margin mode (default: cross)")
         .action(async (symbol, leverage, opts) => {
+        if (!/^[1-9]\d*$/.test(leverage.trim())) {
+            throw new PerpError("INVALID_PARAMS", `leverage must be a positive whole number (got "${leverage}")`, {
+                remediation: "Pass an integer leverage, e.g. perp trade leverage BTC 5",
+            });
+        }
+        const lev = Number(leverage.trim());
         const adapter = await getAdapter();
         const mode = opts.isolated ? "isolated" : "cross";
-        if (dryRunGuard("set_leverage", { exchange: adapter.name, symbol: symbol.toUpperCase(), leverage, mode }))
+        if (dryRunGuard("set_leverage", { exchange: adapter.name, symbol: symbol.toUpperCase(), leverage: lev, mode }))
             return;
         try {
-            const result = await adapter.setLeverage(symbol.toUpperCase(), parseInt(leverage), mode);
+            const result = await adapter.setLeverage(symbol.toUpperCase(), lev, mode);
             logExecution({
                 type: "rebalance", exchange: adapter.name, symbol: symbol.toUpperCase(), side: mode,
                 size: leverage, status: "success", dryRun: false,
-                meta: { action: "set_leverage", leverage: parseInt(leverage), mode },
+                meta: { action: "set_leverage", leverage: lev, mode },
             });
             if (isJson())
                 return printJson(jsonOk(result));
@@ -711,22 +1592,112 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
                 type: "rebalance", exchange: adapter.name, symbol: symbol.toUpperCase(), side: mode,
                 size: leverage, status: "failed", dryRun: false,
                 error: extractErrorMessage(err),
-                meta: { action: "set_leverage", leverage: parseInt(leverage), mode },
+                meta: { action: "set_leverage", leverage: lev, mode },
             });
             throw err;
         }
     });
-    // grid/dca moved to 'perp strategy grid' / 'perp strategy dca'
-    // ── Position Management Shortcuts ──
-    trade
-        .command("close-all")
-        .description("Close all open positions (market orders on opposite side)")
+    /**
+     * One verified reduce-only close (design §12.3, §13.10 #4): closePerpVerified (placePerpVerified
+     * + one residual market close), so the reported `closed` is a measured / venue-final fill, never
+     * the requested size. Logged "success" only when fully verified. A residual or an unknown outcome
+     * quarantines the symbol (CLI path "trade-close"); a definite rejection propagates unchanged.
+     */
+    async function closeVerified(adapter, symbol, originalSide, size, opts) {
+        const side = originalSide === "long" ? "sell" : "buy";
+        const dec = sizeDecimalsOf(size);
+        let smart = null;
+        const place = opts.smart
+            ? async () => {
+                const sr = await smartOrder(adapter, symbol, side, size, { reduceOnly: true, slippage: opts.slippage });
+                smart = { method: sr.method, price: sr.price, bestBookPrice: sr.bestBookPrice };
+                return sr.result;
+            }
+            : undefined;
+        const log = (m) => { if (!isJson())
+            console.log(chalk.red(m)); };
+        const meta = { action: opts.action, originalSide, smart: opts.smart };
+        let c;
+        try {
+            c = await closePerpVerified(adapter, adapter.name, symbol, side, size, { decimals: dec, slippage: opts.slippage, ...(place !== undefined ? { place } : {}) });
+        }
+        catch (e) {
+            logExecution({ type: "market_order", exchange: adapter.name, symbol, side, size, status: isOutcomeUnknown(e) ? "unverified" : "failed", dryRun: false, error: extractErrorMessage(e), meta });
+            if (isOutcomeUnknown(e)) {
+                quarantineSymbol("trade-close", symbol, `${opts.action} ${side} ${size} ${symbol} on ${adapter.name}: outcome unknown (${extractErrorMessage(e)})`, `Check ${symbol} on ${adapter.name} (perp -e ${adapter.name} account positions); fix by hand, then: perp strategy quarantine-clear ${symbol}`, log);
+            }
+            throw e;
+        }
+        const closed = fillSizeString(c.closed, dec);
+        const residual = fillSizeString(c.residual, dec);
+        if (c.residual > 0) {
+            logExecution({ type: "market_order", exchange: adapter.name, symbol, side, size: closed, status: "failed", dryRun: false,
+                error: `residual ${residual} of ${size} still open${c.note !== null ? ` (${c.note})` : ""}`, meta: { ...meta, requested: size, residual } });
+            quarantineSymbol("trade-close", symbol, `${opts.action} ${symbol} on ${adapter.name}: closed ${closed} of ${size}, ${residual} still open${c.note !== null ? ` (${c.note})` : ""}`, `Check ${symbol} on ${adapter.name} (perp -e ${adapter.name} account positions); close the residual by hand, then: perp strategy quarantine-clear ${symbol}`, log);
+        }
+        else {
+            logExecution({ type: "market_order", exchange: adapter.name, symbol, side, size: closed, status: "success", dryRun: false, meta: { ...meta, requested: size } });
+        }
+        return { symbol, side, originalSide, requested: size, closed, residual, note: c.note, smart };
+    }
+    /** Human line for one verified close. */
+    function printCloseOutcome(o) {
+        if (Number(o.residual) > 0) {
+            console.log(chalk.red(`  ✗ ${o.symbol}: closed ${o.closed} of ${o.requested} (${o.originalSide}) — ${o.residual} STILL OPEN${o.note !== null ? ` (${o.note})` : ""}; quarantined`));
+        }
+        else {
+            console.log(chalk.green(`  ✓ ${o.symbol}: closed ${o.closed} (${o.originalSide}, verified)${o.smart !== null ? ` [${o.smart.method}]` : ""}`));
+        }
+    }
+    /** Residuals or failed closes → ORDER_PARTIAL (non-zero exit) carrying every close outcome and failure. */
+    function residualError(venue, outcomes, failures = []) {
+        const open = outcomes.filter(o => Number(o.residual) > 0);
+        if (open.length === 0 && failures.length === 0)
+            return null;
+        const parts = [
+            ...open.map(o => `${o.symbol} ${o.residual} still open after a verified close`),
+            ...failures.map(f => `${f.symbol} close failed: ${f.error}`),
+        ];
+        return new PerpError("ORDER_PARTIAL", `${venue}: ${parts.join("; ")}`, {
+            exchange: venue, closes: outcomes, failures,
+            remediation: `Check positions (perp -e ${venue} account positions), close the residual by hand, then clear the quarantine: perp strategy quarantine-clear <symbol>`,
+        });
+    }
+    /** Close every position, continuing past a close that throws; returns all outcomes and failures. */
+    async function closeEach(adapter, positions, opts) {
+        const outcomes = [];
+        const failures = [];
+        for (const pos of positions) {
+            const size = pos.size.replace(/^-/, "");
+            if (!isJson())
+                console.log(chalk.gray(`  ${pos.side === "long" ? "SELL" : "BUY"} ${size} ${pos.symbol} (closing ${pos.side})...`));
+            try {
+                const o = await closeVerified(adapter, pos.symbol, pos.side, size, opts);
+                outcomes.push(o);
+                if (!isJson())
+                    printCloseOutcome(o);
+            }
+            catch (e) {
+                const f = { symbol: pos.symbol, side: pos.side, size, error: extractErrorMessage(e), code: e instanceof PerpError ? e.structured.code : null };
+                failures.push(f);
+                if (!isJson())
+                    console.log(chalk.red(`  ✗ ${pos.symbol}: close FAILED — ${f.error}`));
+            }
+        }
+        return { outcomes, failures };
+    }
+    supportsDryRun(trade.command("close-all"))
+        .description("Close all open positions (verified reduce-only closes on the opposite side)")
         .option("--smart", "Smart execution: IOC limit at best bid/ask + 1 tick")
+        .option("--slippage-bps <n>", "Slippage bound in bps (default: settings defaultSlippageBps)")
         .action(async (opts) => {
         await withJsonErrors(isJson(), async () => {
             const adapter = await getAdapter();
+            refuseGatedReduceOnly(adapter);
+            const slippage = resolveAdapterSlippage(adapter, parseSlippageBpsFlag(opts.slippageBps));
             if (dryRunGuard("close_all", { exchange: adapter.name, smart: !!opts.smart }))
                 return;
+            invalidateCache("acct");
             const positions = await adapter.getPositions();
             if (positions.length === 0) {
                 if (isJson())
@@ -736,115 +1707,102 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
             }
             if (!isJson())
                 console.log(chalk.cyan(`\n  Closing ${positions.length} position(s) on ${adapter.name}...${opts.smart ? " (smart)" : ""}\n`));
-            const results = [];
-            for (const pos of positions) {
-                const closeSide = pos.side === "long" ? "sell" : "buy";
-                if (!isJson())
-                    console.log(chalk.gray(`  ${closeSide.toUpperCase()} ${pos.size} ${pos.symbol} (closing ${pos.side})...`));
-                let result;
-                if (opts.smart) {
-                    const sr = await smartOrder(adapter, pos.symbol, closeSide, pos.size, { reduceOnly: true });
-                    result = { ...sr.result, smartOrder: { method: sr.method, price: sr.price, bestBookPrice: sr.bestBookPrice } };
-                }
-                else {
-                    result = await adapter.marketOrder(pos.symbol, closeSide, pos.size);
-                }
-                results.push(result);
-                logExecution({
-                    type: "market_order", exchange: adapter.name, symbol: pos.symbol,
-                    side: closeSide, size: pos.size, status: "success", dryRun: false,
-                    meta: { action: "close-all", originalSide: pos.side, smart: !!opts.smart },
-                });
-            }
+            const { outcomes, failures } = await closeEach(adapter, positions, { smart: !!opts.smart, slippage, action: "close-all" });
+            const partial = residualError(adapter.name, outcomes, failures);
+            if (partial !== null)
+                throw partial;
+            await orphanedReduceOnly(adapter, null, false);
             if (isJson())
-                return printJson(jsonOk({ closed: results.length, results }));
-            console.log(chalk.green(`\n  Closed ${results.length} position(s) on ${adapter.name}.\n`));
+                return printJson(jsonOk({ closed: outcomes.length, results: outcomes }));
+            console.log(chalk.green(`\n  Closed ${outcomes.length} position(s) on ${adapter.name} (verified).\n`));
         });
     });
-    trade
-        .command("close <symbol>")
-        .description("Close a specific symbol's position")
+    supportsDryRun(trade.command("close <symbol>"))
+        .description("Close a specific symbol's position (verified reduce-only close)")
         .option("--smart", "Smart execution: IOC limit at best bid/ask + 1 tick")
+        .option("--slippage-bps <n>", "Slippage bound in bps (default: settings defaultSlippageBps)")
         .action(async (symbol, opts) => {
         await withJsonErrors(isJson(), async () => {
             const sym = symbol.toUpperCase();
             const adapter = await getAdapter();
+            refuseGatedReduceOnly(adapter);
+            const slippage = resolveAdapterSlippage(adapter, parseSlippageBpsFlag(opts.slippageBps));
+            invalidateCache("acct");
             const positions = await adapter.getPositions();
             const pos = positions.find(p => symbolMatch(p.symbol, sym));
             if (!pos) {
-                if (isJson())
-                    return printJson(jsonOk({ closed: false, reason: "no_position" }));
-                errorAndExit(`No open position for ${sym}`);
+                throw new PerpError("POSITION_NOT_FOUND", `No open position for ${sym} on ${adapter.name}; nothing was closed`, {
+                    exchange: adapter.name, remediation: `Check positions: perp account positions -e ${adapter.name}`,
+                });
             }
+            const size = pos.size.replace(/^-/, "");
             const closeSide = pos.side === "long" ? "sell" : "buy";
-            if (dryRunGuard("close", { exchange: adapter.name, symbol: sym, side: closeSide, size: pos.size, originalSide: pos.side, smart: !!opts.smart }))
+            if (await orderDryRunGuard("close", adapter, sym, { exchange: adapter.name, symbol: sym, side: closeSide, size, originalSide: pos.side, smart: !!opts.smart }))
                 return;
             if (!isJson())
-                console.log(chalk.cyan(`\n  Closing ${pos.side} ${pos.size} ${sym} on ${adapter.name}...${opts.smart ? " (smart)" : ""}\n`));
-            let result;
-            if (opts.smart) {
-                const sr = await smartOrder(adapter, sym, closeSide, pos.size, { reduceOnly: true });
-                result = { ...sr.result, smartOrder: { method: sr.method, price: sr.price, bestBookPrice: sr.bestBookPrice } };
-            }
-            else {
-                result = await adapter.marketOrder(sym, closeSide, pos.size);
-            }
-            logExecution({
-                type: "market_order", exchange: adapter.name, symbol: sym,
-                side: closeSide, size: pos.size, status: "success", dryRun: false,
-                meta: { action: "close", originalSide: pos.side, smart: !!opts.smart },
-            });
+                console.log(chalk.cyan(`\n  Closing ${pos.side} ${size} ${sym} on ${adapter.name}...${opts.smart ? " (smart)" : ""}\n`));
+            const o = await closeVerified(adapter, pos.symbol, pos.side, size, { smart: !!opts.smart, slippage, action: "close" });
+            const partial = residualError(adapter.name, [o]);
+            if (!isJson())
+                printCloseOutcome(o);
+            if (partial !== null)
+                throw partial;
+            await orphanedReduceOnly(adapter, sym, false);
             if (isJson())
-                return printJson(jsonOk(result));
-            console.log(chalk.green(`\n  Closed ${pos.side} ${pos.size} ${sym} on ${adapter.name}.${opts.smart ? " (smart)" : ""}\n`));
+                return printJson(jsonOk({ ...o, verified: true }));
+            console.log();
         });
     });
-    trade
-        .command("flatten")
-        .description("Cancel all orders AND close all positions (full cleanup)")
+    supportsDryRun(trade.command("flatten"))
+        .description("Cancel all orders AND close all positions (full cleanup, verified)")
         .option("--smart", "Smart execution: IOC limit at best bid/ask + 1 tick")
+        .option("--slippage-bps <n>", "Slippage bound in bps (default: settings defaultSlippageBps)")
         .action(async (opts) => {
         await withJsonErrors(isJson(), async () => {
             const adapter = await getAdapter();
+            refuseGatedReduceOnly(adapter);
+            const slippage = resolveAdapterSlippage(adapter, parseSlippageBpsFlag(opts.slippageBps));
             if (dryRunGuard("flatten", { exchange: adapter.name, smart: !!opts.smart }))
                 return;
             if (!isJson())
                 console.log(chalk.cyan(`\n  Flattening account on ${adapter.name}...${opts.smart ? " (smart)" : ""}\n`));
-            // Step 1: Cancel all orders
+            // Step 1: Cancel all orders (per-order proof)
             if (!isJson())
                 console.log(chalk.gray("  Cancelling all open orders..."));
-            const cancelResult = await adapter.cancelAllOrders();
-            // Step 2: Close all positions
+            const cancelResult = await v2Of(adapter).cancelAllV2(null);
+            if (!isJson())
+                printCancel(cancelResult, "all");
+            // Step 2: Close all positions (verified)
+            invalidateCache("acct");
             const positions = await adapter.getPositions();
-            const closeResults = [];
-            for (const pos of positions) {
-                const closeSide = pos.side === "long" ? "sell" : "buy";
-                if (!isJson())
-                    console.log(chalk.gray(`  ${closeSide.toUpperCase()} ${pos.size} ${pos.symbol} (closing ${pos.side})...`));
-                let result;
-                if (opts.smart) {
-                    const sr = await smartOrder(adapter, pos.symbol, closeSide, pos.size, { reduceOnly: true });
-                    result = sr.result;
-                }
-                else {
-                    result = await adapter.marketOrder(pos.symbol, closeSide, pos.size);
-                }
-                closeResults.push(result);
-                logExecution({
-                    type: "market_order", exchange: adapter.name, symbol: pos.symbol,
-                    side: closeSide, size: pos.size, status: "success", dryRun: false,
-                    meta: { action: "flatten", originalSide: pos.side, smart: !!opts.smart },
+            const { outcomes, failures } = await closeEach(adapter, positions, { smart: !!opts.smart, slippage, action: "flatten" });
+            // QFEX: reduce-only / stop orders still listed on a now-flat symbol (placed meanwhile, or not
+            // covered by cancel-all) are cancelled one by one — the venue leaves them open (Q2).
+            const orphanCancels = await orphanedReduceOnly(adapter, null, true);
+            if (orphanCancels !== null) {
+                cancelResult.cancelled.push(...orphanCancels.cancelled);
+                cancelResult.failed.push(...orphanCancels.failed);
+                (cancelResult.pending ??= []).push(...(orphanCancels.pending ?? []));
+            }
+            const partial = residualError(adapter.name, outcomes, failures);
+            const cancelIncomplete = cancelIncompleteError(cancelResult, "all");
+            if (partial !== null || cancelIncomplete !== null) {
+                // Not fully flat: every cancel and close outcome so far rides on one ORDER_PARTIAL (non-zero exit).
+                const messages = [cancelIncomplete?.message, partial?.message].filter((m) => typeof m === "string");
+                throw new PerpError("ORDER_PARTIAL", `${adapter.name} flatten incomplete: ${messages.join(" | ")}`, {
+                    exchange: adapter.name, ordersCancelled: cancelResult, closes: outcomes, failures,
+                    remediation: `Check open orders and positions: perp -e ${adapter.name} account orders / account positions; clear a quarantine with perp strategy quarantine-clear <symbol>`,
                 });
             }
             if (isJson())
-                return printJson(jsonOk({ ordersCancelled: cancelResult, positionsClosed: closeResults.length, closeResults }));
-            console.log(chalk.green(`\n  Flattened: cancelled orders + closed ${closeResults.length} position(s) on ${adapter.name}.\n`));
+                return printJson(jsonOk({ ordersCancelled: cancelResult, positionsClosed: outcomes.length, closeResults: outcomes }));
+            console.log(chalk.green(`\n  Flattened: ${cancelResult.cancelled.length} order(s) cancelled + ${outcomes.length} position(s) closed (verified) on ${adapter.name}.\n`));
         });
     });
-    trade
-        .command("reduce <symbol> <percent>")
+    supportsDryRun(trade.command("reduce <symbol> <percent>"))
         .description("Reduce a position by a percentage (e.g., perp trade reduce BTC 50)")
         .option("--smart", "Smart execution: IOC limit at best bid/ask + 1 tick")
+        .option("--slippage-bps <n>", "Slippage bound in bps (default: settings defaultSlippageBps)")
         .action(async (symbol, percent, opts) => {
         await withJsonErrors(isJson(), async () => {
             const sym = symbol.toUpperCase();
@@ -852,45 +1810,87 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
             if (isNaN(pct) || pct <= 0 || pct > 100)
                 errorAndExit("Percent must be between 0 and 100");
             const adapter = await getAdapter();
+            refuseGatedReduceOnly(adapter);
+            const slippage = resolveAdapterSlippage(adapter, parseSlippageBpsFlag(opts.slippageBps));
+            invalidateCache("acct");
             const positions = await adapter.getPositions();
             const pos = positions.find(p => symbolMatch(p.symbol, sym));
             if (!pos) {
-                if (isJson())
-                    return printJson(jsonOk({ reduced: false, reason: "no_position" }));
-                errorAndExit(`No open position for ${sym}`);
+                throw new PerpError("POSITION_NOT_FOUND", `No open position for ${sym} on ${adapter.name}; nothing was reduced`, {
+                    exchange: adapter.name, remediation: `Check positions: perp account positions -e ${adapter.name}`,
+                });
+            }
+            // Reduce-only close size: position size × percent floored to the market's LOT step from the
+            // venue market info (lotStepOf) — never to the decimals the position size happens to print
+            // (QFEX GOLD-USD /refdata lot_size "0.0001": 50% of 0.003 is 0.0015, not 0.001). 100% →
+            // the exact position size. Floored, so it can never exceed the position.
+            const posSize = pos.size.replace(/^-/, "");
+            let reduceSize = posSize;
+            if (pct !== 100) {
+                const sizeStep = await lotStepOf(adapter, pos.symbol);
+                reduceSize = floorSize((parseFloat(posSize) * pct / 100).toFixed((sizeStep.split(".")[1] ?? "").length + 6), sizeStep);
+            }
+            if (parseFloat(reduceSize) > parseFloat(posSize)) {
+                throw new PerpError("INVALID_PARAMS", `Computed reduce size ${reduceSize} exceeds position size ${posSize}`);
             }
-            const fullSize = parseFloat(pos.size);
-            const reduceSize = (fullSize * pct / 100).toString();
             const closeSide = pos.side === "long" ? "sell" : "buy";
-            if (dryRunGuard("reduce", { exchange: adapter.name, symbol: sym, side: closeSide, size: reduceSize, percent: pct, originalSize: pos.size, smart: !!opts.smart }))
+            if (await orderDryRunGuard("reduce", adapter, sym, { exchange: adapter.name, symbol: sym, side: closeSide, size: reduceSize, percent: pct, originalSize: pos.size, smart: !!opts.smart }))
                 return;
             if (!isJson())
                 console.log(chalk.cyan(`\n  Reducing ${sym} ${pos.side} by ${pct}% (${reduceSize} of ${pos.size}) on ${adapter.name}...${opts.smart ? " (smart)" : ""}\n`));
-            let result;
-            if (opts.smart) {
-                const sr = await smartOrder(adapter, sym, closeSide, reduceSize, { reduceOnly: true });
-                result = sr.result;
-            }
-            else {
-                result = await adapter.marketOrder(sym, closeSide, reduceSize);
-            }
-            logExecution({
-                type: "market_order", exchange: adapter.name, symbol: sym,
-                side: closeSide, size: reduceSize, status: "success", dryRun: false,
-                meta: { action: "reduce", percent: pct, originalSize: pos.size, originalSide: pos.side, smart: !!opts.smart },
-            });
+            const o = await closeVerified(adapter, pos.symbol, pos.side, reduceSize, { smart: !!opts.smart, slippage, action: "reduce" });
+            const partial = residualError(adapter.name, [o]);
+            if (!isJson())
+                printCloseOutcome(o);
+            if (partial !== null)
+                throw partial;
+            await orphanedReduceOnly(adapter, sym, false);
             if (isJson())
-                return printJson(jsonOk({ reduced: true, percent: pct, sizeReduced: reduceSize, originalSize: pos.size, result }));
-            console.log(chalk.green(`\n  Reduced ${sym} by ${pct}% (${closeSide} ${reduceSize}) on ${adapter.name}.${opts.smart ? " (smart)" : ""}\n`));
+                return printJson(jsonOk({ reduced: true, percent: pct, sizeReduced: o.closed, requested: reduceSize, originalSize: pos.size, residual: o.residual, result: o }));
+            console.log(chalk.green(`\n  Reduced ${sym} by ${o.closed} (${closeSide}, verified) on ${adapter.name}.\n`));
         });
     });
     // ── Order Status Query ──
     trade
         .command("status <orderId>")
-        .description("Query order status by ID")
-        .action(async (orderId) => {
+        .description("Query order status by ID (ondo/arcus/qfex/lighter/lighter-rh/aster: orderId or c:<clientOrderId>, with --symbol; pacifica/hyperliquid: orderId or c:<clientOrderId>)")
+        .option("--symbol <symbol>", "Market of the order (required on ondo/arcus/qfex, and for c:<clientOrderId> on lighter / lighter-rh / aster)")
+        .action(async (orderId, opts) => {
         await withJsonErrors(isJson(), async () => {
             const adapter = await getAdapter();
+            if (isTradingV2(adapter)) {
+                if (opts.symbol === undefined) {
+                    throw new PerpError("INVALID_PARAMS", `${adapter.venue.displayName} order status needs the market`, {
+                        remediation: `Pass --symbol <SYM>: perp trade status ${orderId} --symbol <SYM> -e ${adapter.venue.id}`,
+                    });
+                }
+                const r = await adapter.getOrderStatus(opts.symbol.toUpperCase(), parseOrderRef(orderId));
+                if (isJson())
+                    return printJson(jsonOk(orderResultJson(r)));
+                printOrder(`Order ${orderId} (${r.symbol}) on ${adapter.name}`, r);
+                return;
+            }
+            // c:<clientOrderId> on a legacy venue: the venue's own status query (pacifica, hyperliquid
+            // orderStatus by cloid, aster GET /fapi/v3/order origClientOrderId, lighter / lighter-rh) —
+            // never a local search that cannot match and answers ORDER_NOT_FOUND.
+            const ref = parseOrderRef(orderId);
+            if (ref.kind === "clientOrderId") {
+                const def = getVenue(adapter.name);
+                if (!requireCapabilities(def).clientOrderId) {
+                    throw unsupported(def.displayName, "statusByClientOrderId", "orders on this venue carry no client order id through perp-cli", `Query by venue order id: perp trade status <orderId> -e ${def.id}`);
+                }
+                // Pacifica / Hyperliquid query per account (the row names the market); the others per market.
+                if (opts.symbol === undefined && def.family !== "pacifica" && def.family !== "hyperliquid") {
+                    throw new PerpError("INVALID_PARAMS", `${def.displayName} order status by client order id needs the market`, {
+                        remediation: `Pass --symbol <SYM>: perp trade status ${orderId} --symbol <SYM> -e ${def.id}`,
+                    });
+                }
+                const r = await v2Of(adapter).getOrderStatus(opts.symbol !== undefined ? opts.symbol.toUpperCase() : "", ref);
+                if (isJson())
+                    return printJson(jsonOk(orderResultJson(r)));
+                printOrder(`Order ${orderId} (${r.symbol}) on ${adapter.name}`, r);
+                return;
+            }
             if (isQueryOrderCapable(adapter)) {
                 const result = await adapter.queryOrder(Number(orderId));
                 if (isJson())
@@ -1016,12 +2016,12 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
         });
     });
     // ── Scale-In (분할매수) ──
-    trade
-        .command("scale-in <symbol> <side>")
+    supportsDryRun(trade.command("scale-in <symbol> <side>"))
         .description("Place multiple limit orders at different price levels to build a position gradually (분할매수)")
         .requiredOption("--levels <levels>", "Comma-separated price:percent pairs (e.g., 65000:30,63000:30,60000:40)")
         .option("--size-usd <usd>", "Total USD amount to deploy across all levels")
         .option("--size <base>", "Total base amount (e.g., 0.01 BTC)")
+        .option("--force", "Bypass local risk-limit checks (maxPosition / total exposure)")
         .action(async (symbol, side, opts) => {
         const sym = symbol.toUpperCase();
         const s = side.toLowerCase();
@@ -1042,24 +2042,34 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
             errorAndExit(`Percentages must sum to 100%. Got: ${totalPct}%`);
         }
         const adapter = await getAdapter();
-        // Compute sizes for each level
+        // Quarantine first: it refuses the whole ladder before any market / lot read.
+        assertNotQuarantined(adapter.name, sym, false);
+        // Compute sizes for each level on the venue lot (validated before anything is sent)
+        const step = await lotStepOf(adapter, sym);
         let levelSizes;
         if (opts.sizeUsd) {
             const totalUsd = parseFloat(opts.sizeUsd);
-            levelSizes = levels.map(l => ({
-                price: l.price,
-                pct: l.pct,
-                size: (totalUsd * l.pct / 100 / parseFloat(l.price)).toString(),
-            }));
+            levelSizes = levels.map((l, i) => {
+                const size = floorToStep(totalUsd * l.pct / 100 / parseFloat(l.price), step);
+                if (!(Number(size) > 0)) {
+                    throw new PerpError("SIZE_TOO_SMALL", `Level ${i + 1} ($${(totalUsd * l.pct / 100).toFixed(2)} @ ${l.price}) is below the lot ${step}; nothing was sent`, {
+                        remediation: `Use fewer levels or a larger --size-usd: every level must be at least one lot (${step})`,
+                    });
+                }
+                return { price: l.price, pct: l.pct, size };
+            });
         }
         else {
-            const totalBase = parseFloat(opts.size);
-            levelSizes = levels.map(l => ({
-                price: l.price,
-                pct: l.pct,
-                size: (totalBase * l.pct / 100).toString(),
-            }));
+            const sizes = scaleLevelSizes(opts.size, levels.map(l => l.pct), step);
+            levelSizes = levels.map((l, i) => ({ price: l.price, pct: l.pct, size: sizes[i] }));
         }
+        const reqs = await scaleRequests(adapter, sym, s, false, levelSizes);
+        // Risk gate on the aggregate position being built (before the dry-run return — L5). scale-in is always an
+        // opening flow (no reduce-only exemption); only --force bypasses. Notional
+        // is the sum across levels, expressed as total base * volume-weighted price.
+        const totalBase = levelSizes.reduce((acc, l) => acc + parseFloat(l.size), 0);
+        const totalNotional = levelSizes.reduce((acc, l) => acc + parseFloat(l.size) * parseFloat(l.price), 0);
+        await openingOrderGate(adapter, { symbol: sym, size: totalBase, price: totalBase > 0 ? totalNotional / totalBase : NaN, force: opts.force });
         if (dryRunGuard("scale_in", {
             exchange: adapter.name, symbol: sym, side: s,
             totalSizeUsd: opts.sizeUsd ?? "N/A",
@@ -1068,42 +2078,16 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
         }))
             return;
         // Place limit orders at each level (NOT reduce-only — opening positions)
-        const results = [];
-        for (const level of levelSizes) {
-            try {
-                const result = await adapter.limitOrder(sym, s, level.price, level.size);
-                results.push({ price: level.price, size: level.size, pct: level.pct, result });
-                logExecution({
-                    type: "limit_order", exchange: adapter.name, symbol: sym,
-                    side: s, size: level.size, price: level.price,
-                    status: "success", dryRun: false,
-                    meta: { action: "scale-in", pct: level.pct },
-                });
-            }
-            catch (err) {
-                const msg = extractErrorMessage(err);
-                logExecution({
-                    type: "limit_order", exchange: adapter.name, symbol: sym,
-                    side: s, size: level.size, price: level.price,
-                    status: "failed", dryRun: false, error: msg,
-                    meta: { action: "scale-in", pct: level.pct },
-                });
-                if (isJson()) {
-                    results.push({ price: level.price, size: level.size, pct: level.pct, result: { error: msg } });
-                }
-                else {
-                    console.log(chalk.red(`  Failed: ${level.price} x ${level.size} — ${msg}`));
-                }
-            }
+        const results = await placeScaleLevels(adapter, "scale-in", sym, s, levelSizes, reqs);
+        const incomplete = scaleIncompleteError(adapter.name, `scale-in ${sym}`, results);
+        if (incomplete !== null) {
+            if (!isJson())
+                printScaleLevels(`Scale-in for ${sym} on ${adapter.name} is INCOMPLETE:`, sym, results);
+            throw incomplete;
         }
         if (isJson())
             return printJson(jsonOk({ symbol: sym, side: s, levels: results }));
-        console.log(chalk.green(`\n  Scale-in orders placed for ${sym} on ${adapter.name}:\n`));
-        for (const r of results) {
-            const status = r.result?.error ? chalk.red("FAILED") : chalk.green("OK");
-            console.log(`  ${status}  $${r.price} — ${r.pct}% (${r.size} ${sym})`);
-        }
-        console.log();
+        printScaleLevels(`Scale-in orders placed for ${sym} on ${adapter.name}:`, sym, results);
     });
     // grid/dca/trailing-stop moved to 'perp strategy'
     // ── PnL Tracker ──
@@ -1186,131 +2170,316 @@ export function registerTradeCommands(program, getAdapter, isJson, isDryRun = ()
         }
         console.log(chalk.yellow(`\n  PnL tracker stopped.\n`));
     });
-    // === Spot Trading ===
-    trade
-        .command("spot-buy <symbol> <size>")
-        .description("Buy spot token (HL or Lighter spot market)")
-        .action(async (symbol, size) => {
-        await withJsonErrors(isJson(), async () => {
-            const adapter = await getAdapter();
-            const exchangeName = adapter.name.toLowerCase();
-            let spotAdapter;
-            if (exchangeName === "hyperliquid") {
-                const { HyperliquidSpotAdapter } = await import("../exchanges/hyperliquid-spot.js");
-                const { HyperliquidAdapter } = await import("../exchanges/hyperliquid.js");
-                if (adapter instanceof HyperliquidAdapter) {
-                    spotAdapter = new HyperliquidSpotAdapter(adapter);
+    // === Spot Trading (venue definitions, design §12) ===
+    /** Spot adapter for the current venue via the factory; CAPABILITY_UNSUPPORTED when def.spot is null. */
+    async function spotContext(confirmOnchainApprove) {
+        const adapter = await getAdapter();
+        const def = getVenue(adapter.name);
+        const spotDef = requireSpotDefinition(def);
+        if (confirmOnchainApprove && spotDef.accountModel !== "wallet") {
+            throw unsupported(def.displayName, "onchainApprove", "--yes (on-chain approve) does not apply to this venue's spot", "Omit --yes (only on-chain wallet spot venues such as arcus send approve txs)");
+        }
+        const spot = await requireSpotAdapter(def.id, adapter, { confirmOnchainApprove });
+        return { def, spotDef, spot };
+    }
+    /** Uniform feature name per spot capability (§13.6). */
+    const SPOT_FEATURE = {
+        limitOrder: "spotLimitOrder", orderbook: "spotOrderbook", cancel: "spotCancel", transfer: "spotTransfer",
+    };
+    function requireSpotCapability(def, spotDef, cap, what) {
+        if (!spotDef.capabilities[cap]) {
+            throw unsupported(def.displayName, SPOT_FEATURE[cap], `spot account model "${spotDef.accountModel}" has no ${what}`, spotDef.accountModel === "wallet"
+                ? `${def.displayName} spot is a market swap: use perp -e ${def.id} trade spot-buy|spot-sell`
+                : spotDef.accountModel === "unified"
+                    ? `${def.displayName} spot shares the perp account (one balance) — no transfer is needed`
+                    : `Use a venue whose spot supports ${what}`);
+        }
+    }
+    function isSpotOrderResult(r) {
+        if (r === null || typeof r !== "object")
+            return false;
+        const o = r;
+        return typeof o.status === "string" && (o.finality === "final" || o.finality === "pending") && "receivedToken" in o;
+    }
+    /**
+     * Uniform SpotOrderResult for a legacy raw spot result (HL statuses / Lighter sendTx ack).
+     * A status / fill is reported only with proof: a venue-final IOC outcome (iocOutcomeOf),
+     * HL `resting` (open) / `filled`; anything else is "pending" with a remediation — never "✓".
+     */
+    function spotOrderResultOf(def, spot, symbol, size, raw, kind) {
+        if (isSpotOrderResult(raw))
+            return raw;
+        const r = raw !== null && typeof raw === "object" ? raw : null;
+        const sentSize = typeof r?.sentSize === "string" ? r.sentSize : size;
+        const statuses = r?.response?.data?.statuses;
+        const st0 = Array.isArray(statuses) && statuses[0] !== null && typeof statuses[0] === "object" ? statuses[0] : null;
+        const filled = st0?.filled;
+        const resting = st0?.resting;
+        const idOf = (v) => (typeof v === "number" || (typeof v === "string" && v !== "") ? String(v) : null);
+        const orderId = idOf(filled?.oid) ?? idOf(resting?.oid) ?? idOf(r?.clientOrderIndex) ?? idOf(r?.tx_hash);
+        const avgPrice = typeof filled?.avgPx === "string" && Number(filled.avgPx) > 0 ? filled.avgPx : null;
+        const base = { venue: def.id, symbol, orderId, avgPrice, receivedToken: null, venueRaw: raw };
+        const outcome = isIocOutcomeCapable(spot) ? spot.iocOutcomeOf(raw) : null;
+        if (outcome !== null) {
+            const full = Number(sentSize) - Number(outcome.filledSize) <= iocLotTolerance(sentSize, outcome.filledSize);
+            return { ...base, status: Number(outcome.filledSize) === 0 ? "cancelled" : full ? "filled" : "partial", filledSize: outcome.filledSize, finality: "final", remediation: null };
+        }
+        if (kind === "limit" && resting !== undefined) {
+            return { ...base, status: "open", filledSize: "0", finality: "final", remediation: null };
+        }
+        const check = kind === "limit" ? `perp trade spot-orders ${symbol} -e ${def.id}` : `perp -e ${def.id} account spot-balance`;
+        return {
+            ...base, status: "pending", filledSize: null, finality: "pending",
+            remediation: `Sent; the venue response does not prove the outcome — do NOT resubmit. Check: ${check}`,
+        };
+    }
+    /** Human output: SpotOrderResult status / finality / remediation (legacy raw results are wrapped first). */
+    function printSpotOrder(verb, def, symbol, size, result) {
+        const ok = result.status === "filled" || result.status === "partial" || result.status === "open";
+        const color = result.status === "rejected" ? chalk.red : ok && result.finality === "final" ? chalk.green : chalk.yellow;
+        console.log(color(`\n  Spot ${verb} ${size} ${result.symbol} on ${def.id}: ${result.status} (${result.finality})`));
+        const parts = [
+            result.orderId !== null ? `order ${result.orderId}` : null,
+            result.filledSize !== null ? `filled ${result.filledSize}` : null,
+            result.avgPrice !== null ? `avg ${result.avgPrice}` : null,
+            result.receivedToken !== null ? `received ${result.receivedToken}` : null,
+        ].filter((x) => x !== null);
+        if (parts.length > 0)
+            console.log(chalk.gray(`  ${parts.join(", ")}`));
+        if (result.remediation !== null)
+            console.log(chalk.yellow(`  ${result.remediation}`));
+        console.log();
+    }
+    /**
+     * Execution record of a spot market order, same fields for every venue (design §13.8):
+     * the resolved bound (bps + source) and, where the adapter reports it, the protection
+     * price actually sent and its reference (`protection` on the raw result / venueRaw).
+     */
+    function spotExecutionOf(spotDef, def, result, slippage) {
+        const rec = (v) => (v !== null && typeof v === "object" && !Array.isArray(v) ? v : null);
+        const r = rec(result);
+        const pr = rec(r?.protection) ?? rec(rec(r?.venueRaw)?.protection);
+        const str = (v) => (typeof v === "string" && v !== "" ? v : null);
+        const method = spotDef.accountModel === "wallet" ? "routerSwap" : def.family === "pacifica" ? "venueSlippage" : "protectedIoc";
+        const notes = [];
+        if (method === "routerSwap")
+            notes.push(`swap with minimum received = quote × (1 − ${slippage.bps} bps); no protection price`);
+        else if (method === "venueSlippage")
+            notes.push(`sent slippage_percent ${slippage.bps / 100}; ${def.displayName} derives the protection price`);
+        else if (pr === null)
+            notes.push("protection price not reported by the adapter");
+        else
+            notes.push(`requested ${slippage.bps} bps; applied after price-grid alignment`);
+        return {
+            method,
+            slippageBps: pr !== null && typeof pr.appliedBps === "number" ? pr.appliedBps : slippage.bps,
+            slippageSource: slippage.source,
+            protectionPrice: pr !== null ? str(pr.protectionPrice) : null,
+            referencePrice: pr !== null ? str(pr.referencePrice) : null,
+            tifRequested: null,
+            tifSent: method === "protectedIoc" ? "IOC" : null,
+            expiresAt: null,
+            builderFee: null, // spot orders never carry a builder fee
+            notes,
+        };
+    }
+    function printSpotExecution(e) {
+        const parts = [e.method, `slippage ${e.slippageBps} bps (${e.slippageSource})`];
+        if (e.protectionPrice !== null)
+            parts.push(`protection ${e.protectionPrice}${e.referencePrice !== null ? ` (ref ${e.referencePrice})` : ""}`);
+        console.log(chalk.gray(`  Execution:  ${parts.join(" · ")}`));
+        for (const n of e.notes)
+            console.log(chalk.gray(`  Note:       ${n}`));
+        console.log();
+    }
+    /**
+     * One cancel result shape for every spot venue (SpotOrderResult). Legacy raw acks are
+     * wrapped: HL statuses[0] "success" → cancelled (final), an `error` → ORDER_REJECTED;
+     * any other ack (Lighter tx) → pending until the open orders confirm it.
+     */
+    function spotCancelResult(def, symbol, orderId, raw) {
+        if (isSpotOrderResult(raw))
+            return raw;
+        const statuses = raw?.response?.data?.statuses;
+        const st0 = Array.isArray(statuses) ? statuses[0] : undefined;
+        if (st0 !== null && typeof st0 === "object" && typeof st0.error === "string") {
+            throw new PerpError("ORDER_REJECTED", `${def.displayName} spot cancel of ${orderId} refused: ${st0.error}`, { exchange: def.id });
+        }
+        const confirmed = st0 === "success";
+        return {
+            venue: def.id, symbol, orderId, status: confirmed ? "cancelled" : "pending", filledSize: null, avgPrice: null,
+            finality: confirmed ? "final" : "pending", receivedToken: null,
+            remediation: confirmed ? null : `Cancel sent; confirm with: perp trade spot-orders ${symbol} -e ${def.id}`,
+            venueRaw: raw,
+        };
+    }
+    function spotExecStatus(result) {
+        if (result.status === "rejected")
+            return "failed";
+        return result.finality === "pending" ? "unverified" : "success";
+    }
+    for (const [verb, side] of [["buy", "buy"], ["sell", "sell"]]) {
+        supportsDryRun(trade.command(`spot-${verb} <symbol> <size>`))
+            .description(`${verb === "buy" ? "Buy" : "Sell"} a spot token at market on any venue with spot (bare base uses the venue's default quote)`)
+            .option("--slippage-bps <n>", "Slippage bound in bps (default: settings defaultSlippageBps)")
+            .option("--yes", "Allow the one-time on-chain approve(Permit2) tx (arcus; costs Robinhood Chain ETH gas)")
+            .action(async (symbol, size, opts) => {
+            await withJsonErrors(isJson(), async () => {
+                const slippageFlag = parseSlippageBpsFlag(opts.slippageBps);
+                const { def, spotDef, spot } = await spotContext(opts.yes === true);
+                const slippage = resolveSlippage(def.id, slippageFlag);
+                const sym = symbol.toUpperCase();
+                if (dryRunGuard(`spot ${verb}`, { exchange: def.id, symbol: sym, side, size }))
+                    return;
+                const raw = await spot.spotMarketOrder(sym, side, size, { slippage });
+                const result = spotOrderResultOf(def, spot, sym, size, raw, "market");
+                logExecution({ type: "market_order", exchange: def.id + "-spot", symbol: sym, side, size, status: spotExecStatus(result), dryRun: false, meta: { spot: true, result } });
+                const execution = spotExecutionOf(spotDef, def, result, slippage);
+                if (isJson()) {
+                    printJson(jsonOk({ order: result, symbol: sym, side, size, execution }));
                 }
-            }
-            else if (exchangeName === "lighter") {
-                const { LighterSpotAdapter } = await import("../exchanges/lighter-spot.js");
-                const { LighterAdapter } = await import("../exchanges/lighter.js");
-                if (adapter instanceof LighterAdapter) {
-                    spotAdapter = new LighterSpotAdapter(adapter);
+                else {
+                    printSpotOrder(verb === "buy" ? "bought" : "sold", def, sym, size, result);
+                    printSpotExecution(execution);
                 }
-            }
-            if (!spotAdapter) {
-                if (isJson())
-                    return printJson(jsonError("UNSUPPORTED", `${exchangeName} does not support spot trading`));
-                errorAndExit(`${exchangeName} does not support spot trading`);
+            });
+        });
+    }
+    supportsDryRun(trade.command("spot-limit <symbol> <side> <price> <size>"))
+        .description("Place a spot limit order (venues with spot limitOrder capability)")
+        .option("--tif <tif>", "Time in force (venue-specific, e.g. GTC/IOC/ALO); omitted = the adapter's default")
+        .action(async (symbol, side, price, size, opts) => {
+        await withJsonErrors(isJson(), async () => {
+            const s = side.toLowerCase();
+            if (s !== "buy" && s !== "sell")
+                throw new PerpError("INVALID_PARAMS", `Side must be buy or sell (got "${side}")`);
+            const { def, spotDef, spot } = await spotContext(false);
+            requireSpotCapability(def, spotDef, "limitOrder", "limit orders");
+            const sym = symbol.toUpperCase();
+            if (dryRunGuard("spot limit", { exchange: def.id, symbol: sym, side: s, price, size, tif: opts.tif ?? null }))
                 return;
+            const raw = await spot.spotLimitOrder(sym, s, price, size, opts.tif !== undefined ? { tif: opts.tif } : undefined);
+            const result = spotOrderResultOf(def, spot, sym, size, raw, "limit");
+            logExecution({ type: "limit_order", exchange: def.id + "-spot", symbol: sym, side: s, size, price, status: spotExecStatus(result), dryRun: false, meta: { spot: true, tif: opts.tif ?? null, result } });
+            if (isJson()) {
+                printJson(jsonOk({ order: result, symbol: sym, side: s, price, size }));
+            }
+            else {
+                printSpotOrder(`limit ${s} @ ${price}`, def, sym, size, result);
             }
-            await spotAdapter.init();
-            if (dryRunGuard("spot buy", { exchange: exchangeName, symbol: symbol.toUpperCase(), side: "buy", size }))
+        });
+    });
+    supportsDryRun(trade.command("spot-cancel <symbol> <orderId>"))
+        .description("Cancel a spot order (venues with spot cancel capability)")
+        .action(async (symbol, orderId) => {
+        await withJsonErrors(isJson(), async () => {
+            const { def, spotDef, spot } = await spotContext(false);
+            requireSpotCapability(def, spotDef, "cancel", "order cancel");
+            const sym = symbol.toUpperCase();
+            if (dryRunGuard("spot cancel", { exchange: def.id, symbol: sym, orderId }))
                 return;
-            const result = await spotAdapter.spotMarketOrder(symbol.toUpperCase(), "buy", size);
-            logExecution({ type: "market_order", exchange: exchangeName + "-spot", symbol: symbol.toUpperCase(), side: "buy", size, status: "success", dryRun: false, meta: { spot: true, result } });
+            const result = spotCancelResult(def, sym, orderId, await spot.spotCancelOrder(sym, orderId));
+            logExecution({ type: "cancel", exchange: def.id + "-spot", symbol: sym, side: "cancel", size: "0", status: spotExecStatus(result), dryRun: false, meta: { spot: true, orderId, result } });
             if (isJson()) {
-                printJson(jsonOk({ order: result, symbol: symbol.toUpperCase(), side: "buy", size }));
+                printJson(jsonOk({ cancelled: result, symbol: sym, orderId }));
             }
             else {
-                console.log(chalk.green(`\n  ✓ Spot bought ${size} ${symbol.toUpperCase()} on ${exchangeName}\n`));
+                printSpotOrder("cancel", def, sym, orderId, result);
             }
         });
     });
     trade
-        .command("spot-sell <symbol> <size>")
-        .description("Sell spot token (HL or Lighter spot market)")
-        .action(async (symbol, size) => {
+        .command("spot-orders [symbol]")
+        .description("List open spot orders (optionally for one symbol)")
+        .action(async (symbol) => {
         await withJsonErrors(isJson(), async () => {
-            const adapter = await getAdapter();
-            const exchangeName = adapter.name.toLowerCase();
-            let spotAdapter;
-            if (exchangeName === "hyperliquid") {
-                const { HyperliquidSpotAdapter } = await import("../exchanges/hyperliquid-spot.js");
-                const { HyperliquidAdapter } = await import("../exchanges/hyperliquid.js");
-                if (adapter instanceof HyperliquidAdapter) {
-                    spotAdapter = new HyperliquidSpotAdapter(adapter);
-                }
-            }
-            else if (exchangeName === "lighter") {
-                const { LighterSpotAdapter } = await import("../exchanges/lighter-spot.js");
-                const { LighterAdapter } = await import("../exchanges/lighter.js");
-                if (adapter instanceof LighterAdapter) {
-                    spotAdapter = new LighterSpotAdapter(adapter);
-                }
+            const { def, spotDef, spot } = await spotContext(false);
+            if (spotDef.accountModel === "wallet" || !isSpotOpenOrdersCapable(spot)) {
+                throw unsupported(def.displayName, "spotOpenOrders", spotDef.accountModel === "wallet" ? "spot is an on-chain swap that settles immediately — there are no resting orders" : "the spot adapter cannot list open orders", spotDef.accountModel === "wallet" ? `Check the wallet balance: perp -e ${def.id} trade spot-balance` : "Use the venue UI to inspect open spot orders");
             }
-            if (!spotAdapter) {
-                if (isJson())
-                    return printJson(jsonError("UNSUPPORTED", `${exchangeName} does not support spot trading`));
-                errorAndExit(`${exchangeName} does not support spot trading`);
+            const orders = await spot.getSpotOpenOrders(symbol === undefined ? null : symbol.toUpperCase());
+            if (isJson())
+                return printJson(jsonOk({ exchange: def.id, orders }));
+            console.log(chalk.cyan(`\n  Open spot orders (${def.id}):\n`));
+            if (orders.length === 0) {
+                console.log(chalk.gray("  No open spot orders\n"));
                 return;
             }
-            await spotAdapter.init();
-            if (dryRunGuard("spot sell", { exchange: exchangeName, symbol: symbol.toUpperCase(), side: "sell", size }))
+            const { makeTable } = await import("../utils.js");
+            console.log(makeTable(["Order", "Symbol", "Side", "Price", "Size", "Filled"], orders.map(o => [o.orderId, o.symbol, o.side, o.price, o.size, o.filled])));
+            console.log();
+        });
+    });
+    supportsDryRun(trade.command("spot-transfer <direction> <amount>"))
+        .description("Move the venue's spot quote asset between perp and spot (to-spot | to-perp). Shared-balance accounts (pacifica, HL unified, Lighter unified trading account): success no-op (execution.method sharedAccount); wallet spot (arcus): unsupported")
+        .action(async (direction, amount) => {
+        await withJsonErrors(isJson(), async () => {
+            const dir = direction.toLowerCase();
+            if (dir !== "to-spot" && dir !== "to-perp")
+                throw new PerpError("INVALID_PARAMS", `Direction must be to-spot or to-perp (got "${direction}")`);
+            const n = Number(amount);
+            if (!Number.isFinite(n) || n <= 0)
+                throw new PerpError("INVALID_PARAMS", `Amount must be a positive number (got "${amount}")`);
+            const { def, spotDef, spot } = await spotContext(false);
+            // Wallet model (arcus): spot is the on-chain wallet, not an exchange account → uniform unsupported.
+            // Unified accounts (pacifica, HL unified, Lighter account_trading_mode 1) → success no-op below (execution.method "sharedAccount").
+            if (spotDef.accountModel === "wallet") {
+                throw unsupported(def.displayName, "spotTransfer", "spot is the on-chain wallet (no exchange spot account to transfer into)", `Fund the wallet directly; check it with: perp -e ${def.id} trade spot-balance`);
+            }
+            const asset = defaultSpotQuote(def, network());
+            if (dryRunGuard("spot transfer", { exchange: def.id, direction: dir, amount, asset }))
                 return;
-            const result = await spotAdapter.spotMarketOrder(symbol.toUpperCase(), "sell", size);
-            logExecution({ type: "market_order", exchange: exchangeName + "-spot", symbol: symbol.toUpperCase(), side: "sell", size, status: "success", dryRun: false, meta: { spot: true, result } });
-            if (isJson()) {
-                printJson(jsonOk({ order: result, symbol: symbol.toUpperCase(), side: "sell", size }));
+            let moved;
+            try {
+                moved = dir === "to-spot" ? await transferQuoteToSpot(spot, n) : await transferQuoteToPerp(spot, n);
+            }
+            catch (e) {
+                // Refused for lack of funds → say how much the source side can move (read live).
+                throw await transferShortfallError(e, {
+                    venue: def.id, direction: dir, amount, asset,
+                    readAvailable: async () => {
+                        if (dir !== "to-spot")
+                            return readSpotQuoteAvailableFresh(spot);
+                        const perp = await getAdapter();
+                        // Aster margin is multi-asset: the account-wide available balance is not an amount of `asset`.
+                        return typeof perp.getPerpAssetTransferable === "function" ? perp.getPerpAssetTransferable(asset) : Number((await perp.getBalance()).available);
+                    },
+                });
+            }
+            const execution = moved
+                ? { method: "transfer", notes: [`${asset} ${dir === "to-spot" ? "perp → spot" : "spot → perp"}`] }
+                : { method: "sharedAccount", notes: [`${def.displayName} spot and perp share one balance for this account — no transfer needed`] };
+            if (isJson())
+                return printJson(jsonOk({ exchange: def.id, direction: dir, amount, asset, transferred: moved, execution }));
+            if (moved) {
+                console.log(chalk.green(`\n  ✓ Transferred ${amount} ${asset} ${dir === "to-spot" ? "perp → spot" : "spot → perp"} on ${def.id}`));
             }
             else {
-                console.log(chalk.green(`\n  ✓ Spot sold ${size} ${symbol.toUpperCase()} on ${exchangeName}\n`));
+                console.log(chalk.green(`\n  ✓ Nothing to move on ${def.id}: spot and perp share one balance`));
             }
+            console.log(chalk.gray(`  Execution:  ${execution.method}\n`));
         });
     });
     trade
         .command("spot-balance")
-        .description("Show spot token balances (HL or Lighter)")
+        .description("Show spot token balances (any venue with spot)")
         .action(async () => {
         await withJsonErrors(isJson(), async () => {
-            const adapter = await getAdapter();
-            const exchangeName = adapter.name.toLowerCase();
-            let spotAdapter;
-            if (exchangeName === "hyperliquid") {
-                const { HyperliquidSpotAdapter } = await import("../exchanges/hyperliquid-spot.js");
-                const { HyperliquidAdapter } = await import("../exchanges/hyperliquid.js");
-                if (adapter instanceof HyperliquidAdapter) {
-                    spotAdapter = new HyperliquidSpotAdapter(adapter);
-                }
-            }
-            else if (exchangeName === "lighter") {
-                const { LighterSpotAdapter } = await import("../exchanges/lighter-spot.js");
-                const { LighterAdapter } = await import("../exchanges/lighter.js");
-                if (adapter instanceof LighterAdapter) {
-                    spotAdapter = new LighterSpotAdapter(adapter);
-                }
-            }
-            if (!spotAdapter) {
-                if (isJson())
-                    return printJson(jsonError("UNSUPPORTED", `${exchangeName} does not support spot trading`));
-                errorAndExit(`${exchangeName} does not support spot trading`);
-                return;
-            }
-            await spotAdapter.init();
-            const balances = await spotAdapter.getSpotBalances();
+            const { def, spot } = await spotContext(false);
+            const balances = await spot.getSpotBalances();
             const nonZero = balances.filter(b => Number(b.total) > 0);
             if (isJson()) {
-                printJson(jsonOk({ exchange: exchangeName, balances: nonZero }));
+                printJson(jsonOk({ exchange: def.id, balances: nonZero }));
             }
             else {
-                console.log(chalk.cyan(`\n  Spot Balances (${exchangeName}):\n`));
+                console.log(chalk.cyan(`\n  Spot Balances (${def.id}):\n`));
                 if (nonZero.length === 0) {
                     console.log(chalk.gray("  No spot tokens\n"));
                 }
                 else {
                     for (const b of nonZero) {
-                        console.log(`  ${b.token.padEnd(10)} ${b.total.padEnd(15)} available: ${b.available}`);
+                        const sharedNote = b.shared ? chalk.gray("  (shared with perp margin)") : "";
+                        console.log(`  ${b.token.padEnd(10)} ${b.total.padEnd(15)} available: ${b.available}${sharedNote}`);
                     }
                     console.log();
                 }
@@ -1333,15 +2502,14 @@ function parseMultiLeg(spec) {
         throw new Error(`Invalid leg format "${spec}" — expected exchange:symbol:side:size`);
     }
     const [exchange, symbol, side, size] = parts;
-    // Normalize exchange aliases
-    const exMap = {
-        hl: "hyperliquid", pac: "pacifica", lit: "lighter",
-        hyperliquid: "hyperliquid", pacifica: "pacifica", lighter: "lighter",
-    };
-    const normalizedExchange = exMap[exchange.toLowerCase()];
-    if (!normalizedExchange) {
-        throw new Error(`Unknown exchange "${exchange}" in leg spec`);
+    // Normalize exchange aliases via the venue registry ("lit" kept as a legacy alias of lighter)
+    const exRef = exchange.toLowerCase() === "lit" ? "lighter" : exchange;
+    const trading = listVenuesWithRole("trading");
+    const def = trading.find(v => v.id === exRef.toLowerCase() || v.aliases.includes(exRef.toLowerCase()));
+    if (!def) {
+        throw new Error(`Unknown exchange "${exchange}" in leg spec — valid: ${trading.map(v => v.id).join(", ")}`);
     }
+    const normalizedExchange = def.id;
     if (side !== "buy" && side !== "sell") {
         throw new Error(`Invalid side "${side}" — must be "buy" or "sell"`);
     }
@@ -1357,12 +2525,18 @@ function registerMultiAction(parent, getAdapterForExchange, isJson, deprecated =
     if (deprecated)
         cmd._hidden = true;
     cmd
-        .option("--smart", "Use smart order (IOC limit + fallback) for each leg")
+        .option("--smart", "Send each opening leg as an IOC limit at best bid/ask + 1 tick (no market fallback: a leg that does not match fails)")
         .option("--rollback", "Auto-rollback filled legs if any leg fails", true)
         .option("--no-rollback", "Disable auto-rollback")
-        .option("--timeout <ms>", "Per-leg timeout in milliseconds", "30000")
+        .option("--timeout <ms>", "Removed: legs are verified by their position, never timed out (passing it is an error)")
+        .option("--force", "Bypass local risk-limit checks (maxPosition / total exposure) for every leg")
         .action(async (legSpecs, opts) => {
         await withJsonErrors(isJson(), async () => {
+            if (opts.timeout !== undefined) {
+                throw new PerpError("INVALID_PARAMS", "--timeout was removed from 'trade multi': each leg is verified by its position delta; an unconfirmed leg is reported (and quarantined), never treated as failed after a timeout", {
+                    remediation: "Drop --timeout",
+                });
+            }
             // Parse legs
             const legs = legSpecs.map(parseMultiLeg);
             if (legs.length < 2) {
@@ -1388,101 +2562,175 @@ function registerMultiAction(parent, getAdapterForExchange, isJson, deprecated =
                     adapters.set(l.exchange, await getAdapterForExchange(l.exchange));
                 }
             }
-            // Execute all legs simultaneously
-            const timeoutMs = parseInt(opts.timeout);
-            const results = await Promise.allSettled(legs.map(async (leg) => {
+            // Quarantined symbols (an earlier unknown outcome) are never traded automatically.
+            for (const l of legs) {
+                const q = quarantineEntryFor(l.symbol, (m) => { if (!isJson())
+                    console.error(m); });
+                if (q !== null) {
+                    throw new PerpError("RISK_VIOLATION", `${l.symbol} is quarantined by ${q.strategy}: ${q.reason}`, { remediation: q.remediation });
+                }
+            }
+            // Risk gate every leg before any order goes out, so a breach aborts the
+            // whole multi-leg up front. --force bypasses; the rollback orders below
+            // are exempt (they reduce the just-opened legs).
+            await Promise.all(legs.map((leg) => enforceOrderRisk(adapters.get(leg.exchange), {
+                symbol: leg.symbol,
+                size: parseFloat(leg.size),
+                force: opts.force,
+            })));
+            // Lot step per leg from the venue market info (unknown → throws before any order goes out):
+            // each leg is sent floored to it and its fill judged against that sent size.
+            const legSteps = new Map();
+            for (const l of legs)
+                legSteps.set(l, await lotStepOf(adapters.get(l.exchange), l.symbol));
+            // Execute legs ONE AT A TIME, each verified by its position delta (placePerpVerified):
+            // parallel legs on one venue/symbol would corrupt each other's measurement. With
+            // rollback on, the first failure stops further legs. An unknown outcome stops
+            // everything: that leg is quarantined and NOTHING is rolled back (the unknown leg may
+            // have executed — undoing the others could leave it naked).
+            const log = (m) => { if (!isJson())
+                console.log(chalk.red(m)); };
+            const quarantineLeg = (leg, reason) => quarantineSymbol("trade-multi", leg.symbol, reason, `Check ${leg.symbol} on ${leg.exchange} (perp -e ${leg.exchange} account positions) and the other legs; fix by hand, then: perp strategy quarantine-clear ${leg.symbol}`, log);
+            const legResults = legs.map(leg => ({ leg, status: "skipped", filledSize: null }));
+            let stop = false;
+            for (const r of legResults) {
+                if (stop)
+                    break;
+                const leg = r.leg;
                 const adapter = adapters.get(leg.exchange);
-                const orderPromise = opts.smart
-                    ? smartOrder(adapter, leg.symbol, leg.side, leg.size).then(r => r.result)
-                    : adapter.marketOrder(leg.symbol, leg.side, leg.size);
-                // Apply timeout
-                const result = await Promise.race([
-                    orderPromise,
-                    new Promise((_, reject) => setTimeout(() => reject(new Error("Leg timeout")), timeoutMs)),
-                ]);
-                // Log execution
-                logExecution({
-                    type: "multi_leg",
-                    exchange: leg.exchange,
-                    symbol: leg.symbol,
-                    side: leg.side,
-                    size: leg.size,
-                    status: "success",
-                    dryRun: false,
-                    meta: { result, smart: opts.smart },
-                });
-                return { leg, status: "filled", result };
-            }));
-            // Process results
-            const legResults = results.map((r, i) => {
-                if (r.status === "fulfilled")
-                    return r.value;
-                return {
-                    leg: legs[i],
-                    status: "failed",
-                    error: r.reason instanceof Error ? r.reason.message : String(r.reason),
-                };
-            });
+                const step = legSteps.get(leg);
+                try {
+                    const sentSize = floorSize(leg.size, step);
+                    const f = await placePerpVerified(adapter, leg.exchange, leg.symbol, leg.side, sentSize, {
+                        stepSize: step,
+                        ...(opts.smart ? { place: () => smartOrder(adapter, leg.symbol, leg.side, sentSize).then(x => x.result) } : {}),
+                    });
+                    r.status = "filled";
+                    r.filledSize = floorToStep(f.filledSize, step);
+                    r.result = f.raw;
+                    // Accepted partial fill (venue-final IOC partial, or ≥ 80% measured): the legs no longer
+                    // match — reported as ORDER_PARTIAL; with rollback on it stops and is rolled back.
+                    if (Number(r.filledSize) < Number(sentSize)) {
+                        r.error = `partial fill: ${r.filledSize} of ${sentSize}${sentSize !== leg.size ? ` (requested ${leg.size}, floored to lot ${step})` : ""}`;
+                        if (opts.rollback)
+                            stop = true;
+                    }
+                    logExecution({ type: "multi_leg", exchange: leg.exchange, symbol: leg.symbol, side: leg.side, size: leg.size, status: "success", dryRun: false, meta: { result: f.raw, smart: opts.smart, measuredFill: f.filledSize } });
+                }
+                catch (e) {
+                    r.error = extractErrorMessage(e);
+                    logExecution({ type: "multi_leg", exchange: leg.exchange, symbol: leg.symbol, side: leg.side, size: leg.size, status: isOutcomeUnknown(e) ? "unverified" : "failed", error: r.error, dryRun: false, meta: { smart: opts.smart, pending: isOutcomeUnknown(e) } });
+                    if (isOutcomeUnknown(e)) {
+                        r.status = "unknown";
+                        quarantineLeg(leg, `trade multi: ${leg.side} ${leg.size} ${leg.symbol} on ${leg.exchange} outcome unknown (${r.error})`);
+                        stop = true;
+                    }
+                    else {
+                        r.status = "failed";
+                        if (opts.rollback)
+                            stop = true;
+                    }
+                }
+            }
             const filled = legResults.filter(r => r.status === "filled");
             const failed = legResults.filter(r => r.status === "failed");
-            // Rollback if partial fill and rollback enabled
-            if (failed.length > 0 && filled.length > 0 && opts.rollback) {
+            const unknown = legResults.filter(r => r.status === "unknown");
+            // Rollback (definite failures or partial fills only): each verified-filled leg, reduce-only, sized to its
+            // MEASURED fill, verified with one residual close. Rejected / unconfirmed / residual → quarantine.
+            const partial = filled.filter(r => r.error !== undefined);
+            if ((failed.length > 0 || partial.length > 0) && unknown.length === 0 && filled.length > 0 && opts.rollback) {
                 if (!isJson()) {
-                    console.log(chalk.yellow(`\n  ${failed.length} leg(s) failed — rolling back ${filled.length} filled leg(s)...\n`));
+                    console.log(chalk.yellow(`\n  ${failed.length} leg(s) failed${partial.length > 0 ? `, ${partial.length} partially filled` : ""} — rolling back ${filled.length} filled leg(s) (reduce-only)...\n`));
                 }
-                for (const fr of filled) {
+                for (const fr of [...filled].reverse()) {
                     const adapter = adapters.get(fr.leg.exchange);
                     const reverseSide = fr.leg.side === "buy" ? "sell" : "buy";
+                    const rbSize = fr.filledSize;
+                    let why = null;
                     try {
-                        await adapter.marketOrder(fr.leg.symbol, reverseSide, fr.leg.size);
-                        fr.status = "rolled_back";
-                        logExecution({
-                            type: "multi_leg_rollback",
-                            exchange: fr.leg.exchange,
-                            symbol: fr.leg.symbol,
-                            side: reverseSide,
-                            size: fr.leg.size,
-                            status: "success",
-                            dryRun: false,
-                        });
-                        if (!isJson()) {
-                            console.log(chalk.gray(`  Rolled back: ${fr.leg.exchange} ${reverseSide} ${fr.leg.symbol} x ${fr.leg.size}`));
-                        }
+                        const c = await closePerpVerified(adapter, fr.leg.exchange, fr.leg.symbol, reverseSide, rbSize, { stepSize: legSteps.get(fr.leg) });
+                        if (c.residual > 0)
+                            why = `rollback closed ${c.closed} of ${rbSize}, ${c.residual} still open${c.note !== null ? ` (${c.note})` : ""}`;
                     }
                     catch (err) {
-                        if (!isJson()) {
-                            console.log(chalk.red(`  Rollback failed: ${fr.leg.exchange} ${fr.leg.symbol} — ${err instanceof Error ? err.message : err}`));
-                        }
+                        why = `rollback ${isOutcomeUnknown(err) ? "outcome unknown" : "failed"}: ${extractErrorMessage(err)}`;
+                    }
+                    logExecution({ type: "multi_leg_rollback", exchange: fr.leg.exchange, symbol: fr.leg.symbol, side: reverseSide, size: rbSize, status: why === null ? "success" : "failed", ...(why !== null ? { error: why } : {}), dryRun: false });
+                    if (why === null) {
+                        fr.status = "rolled_back";
+                        if (!isJson())
+                            console.log(chalk.gray(`  Rolled back: ${fr.leg.exchange} ${reverseSide} ${fr.leg.symbol} x ${rbSize} (reduce-only)`));
+                    }
+                    else {
+                        fr.status = "rollback_failed";
+                        fr.error = why;
+                        quarantineLeg(fr.leg, `trade multi: ${fr.leg.side} ${rbSize} ${fr.leg.symbol} on ${fr.leg.exchange} filled; ${why}`);
                     }
                 }
             }
+            // Not a success unless every leg filled: unknown → ORDER_PENDING; a failed rollback or legs
+            // left filled next to a failed one → ORDER_PARTIAL; failed with nothing left open →
+            // ORDER_REJECTED. Scripts get ok:false + exit code 1 with the full per-leg details.
+            const rollbackFailed = legResults.filter(r => r.status === "rollback_failed");
+            const stillFilled = legResults.filter(r => r.status === "filled");
+            const outcome = unknown.length > 0 ? "ORDER_PENDING"
+                : rollbackFailed.length > 0 ? "ORDER_PARTIAL"
+                    : failed.length > 0 || partial.length > 0 ? (stillFilled.length > 0 ? "ORDER_PARTIAL" : "ORDER_REJECTED")
+                        : null;
+            if (outcome !== null)
+                process.exitCode = 1;
             if (isJson()) {
-                printJson(jsonOk({
+                const payload = {
                     legs: legResults.map(r => ({
                         exchange: r.leg.exchange,
                         symbol: r.leg.symbol,
                         side: r.leg.side,
                         size: r.leg.size,
+                        filledSize: r.filledSize,
                         status: r.status,
                         error: r.error,
                     })),
                     summary: {
                         total: legs.length,
-                        filled: legResults.filter(r => r.status === "filled").length,
+                        filled: stillFilled.length,
                         failed: failed.length,
+                        unknown: unknown.length,
+                        skipped: legResults.filter(r => r.status === "skipped").length,
                         rolledBack: legResults.filter(r => r.status === "rolled_back").length,
+                        rollbackFailed: rollbackFailed.length,
+                        quarantined: [...new Set(legResults.filter(r => r.status === "unknown" || r.status === "rollback_failed").map(r => r.leg.symbol))],
                     },
-                }));
+                };
+                if (outcome === null) {
+                    printJson(jsonOk(payload));
+                }
+                else {
+                    const message = outcome === "ORDER_PENDING" ? `trade multi: ${unknown.length} leg(s) have an unknown outcome (quarantined)`
+                        : outcome === "ORDER_PARTIAL" ? `trade multi: ${failed.length} leg(s) failed${partial.length > 0 ? `, ${partial.length} partially filled` : ""}; ${rollbackFailed.length > 0 ? `${rollbackFailed.length} rollback(s) failed (quarantined)` : `${stillFilled.length} leg(s) remain filled`}`
+                            : `trade multi: ${failed.length} leg(s) failed${partial.length > 0 ? `, ${partial.length} partially filled` : ""}; nothing left open`;
+                    printJson(jsonError(outcome, message, {
+                        status: ERROR_CODES[outcome].status,
+                        retryable: false,
+                        details: payload,
+                        ...(outcome !== "ORDER_REJECTED" ? { remediation: "Do NOT resubmit — check every leg's position (perp strategy quarantine; account positions per venue)" } : {}),
+                    }));
+                }
             }
             else {
                 console.log(chalk.cyan.bold("\nResults:\n"));
                 for (const r of legResults) {
                     const icon = r.status === "filled" ? chalk.green("OK") :
                         r.status === "rolled_back" ? chalk.yellow("ROLLBACK") :
-                            chalk.red("FAIL");
-                    console.log(`  ${icon} ${r.leg.exchange.padEnd(14)} ${r.leg.side} ${r.leg.symbol} x ${r.leg.size}${r.error ? ` — ${r.error}` : ""}`);
+                            r.status === "skipped" ? chalk.gray("SKIP") :
+                                r.status === "unknown" ? chalk.red.bold("UNKNOWN (quarantined)") :
+                                    r.status === "rollback_failed" ? chalk.red.bold("ROLLBACK FAILED (quarantined)") :
+                                        chalk.red("FAIL");
+                    const fill = r.filledSize !== null && r.filledSize !== r.leg.size ? ` (filled ${r.filledSize})` : "";
+                    console.log(`  ${icon} ${r.leg.exchange.padEnd(14)} ${r.leg.side} ${r.leg.symbol} x ${r.leg.size}${fill}${r.error ? ` — ${r.error}` : ""}`);
                 }
-                console.log(`\n  Total: ${legs.length}  Filled: ${filled.length}  Failed: ${failed.length}  Rolled back: ${legResults.filter(r => r.status === "rolled_back").length}`);
+                console.log(`\n  Total: ${legs.length}  Filled: ${legResults.filter(r => r.status === "filled").length}  Failed: ${failed.length}  Unknown: ${unknown.length}  Rolled back: ${legResults.filter(r => r.status === "rolled_back").length}`);
+                if (unknown.length > 0)
+                    console.log(chalk.red("  An unconfirmed leg was quarantined — do NOT resubmit; check the positions (perp strategy quarantine)."));
             }
         });
     });