The metrics, without the jargon wall.
Clear definitions for MFE, MAE, open interest, funding, drawdown, slippage, basis, expectancy and more.
MFE
Maximum Favorable Excursion: the best move a measured position/episode experienced in its favor.
MAE
Maximum Adverse Excursion: the worst move against the measured position/episode.
Open Interest (OI)
Outstanding derivatives exposure reported by the market venue. OI change adds context but does not independently identify buying or selling direction.
Funding
A periodic transfer used by perpetual-futures venues. Positive/negative conventions are venue-specific.
Drawdown
The decline from a prior observed peak to a later trough. PriceVia labels whether the calculation is intraday, cumulative-observation or strategy based.
Slippage
The difference between expected and actual execution price caused by spread, depth, latency and market movement.
Spread
The gap between best bid and best ask. A wider spread generally increases immediate execution friction.
Depth / liquidity
Visible bid/ask quantity near the market. Displayed order-book depth can change quickly and is not guaranteed executable size.
Basis
The difference between a derivative price and a reference/spot price, often expressed in basis points or percentage terms.
Market breadth
The balance of advancers versus decliners across the loaded universe. Positive breadth means more instruments are rising than falling.
Turnover concentration
The share of total loaded turnover represented by the largest instruments. High concentration means liquidity/activity is clustered.
Profit factor
Positive outcome amount divided by loss amount over the measured sample. PriceVia’s P&L dashboard explicitly labels its daily-observation version so it is not confused with trade-level profit factor.
Expectancy
Average result per measured observation or trade, depending on the dataset. Context matters because daily endpoints and completed trades are different samples.
Sharpe-like P&L consistency
An annualized mean-to-volatility diagnostic calculated from observed daily P&L. It is not a formal cashflow-adjusted portfolio Sharpe ratio.
Sortino-like P&L consistency
An annualized mean-to-downside-volatility diagnostic from observed daily P&L. It is not a formal portfolio Sortino ratio.
Recovery factor
Observed range P&L divided by cumulative observed drawdown. It describes historical recovery efficiency, not future risk.
Reconciliation
The process of comparing durable local order intent state with persisted broker acknowledgements, fills, positions and safety state. Broker/exchange truth is authoritative when there is a mismatch.
Dead-man protection
A server-owned broker safety heartbeat/state used to reduce unmanaged opening-order risk when supported.
LIVE master
The global PriceVia control that must be enabled, along with role/broker/risk gates, before eligible live writes can occur.