$ core.txt → explain
Σ raw flows → unified surface
All raw data streams (on-chain, exchanges, derivatives) are aggregated
into a single unified metric surface.

δ = 0 ∧ r_f = 0 ⇔ yield = 0
If there is no imbalance and the funding rate equals zero → no arbitrage, no yield.

Else ⇒ opportunity detected
Any deviation (δ ≠ 0 or r_f ≠ 0) indicates a potential opportunity.

$ init.log → expand
Echo(price) muted → raw flow parsed.
The “price echo” is muted — we analyze only real underlying flows.

Pain = argmax_K ∂OI(K)/∂K resolved.
Identifies the strike with the highest OI gradient — the market’s “pain point”.

Σ_i metrics → unified surface.
All validated metrics are aggregated into a unified analytic surface.

Perp funding bias calibrated.
Funding rate biases are calibrated across exchanges.

P/C ~ Σ_put/Σ_call → imbalance tracked.
Computes the put/call ratio and tracks positioning imbalances.

Residual r_t = p_t - E[p_t|X]; Var spike↑.
The residual represents the deviation between actual price and model expectation.
A sharp increase in variance → signal of regime shift or local inefficiency.

Provenance: raw → validated → indexed.
Each data stream is verified and stored with metadata — validated and indexed for reproducibility.