Latency Arb Tracker

If your fills are consistently worse than your quotes by more than noise can explain, someone’s clock is ahead of yours. The Latency Arb Tracker will measure whether your execution path leaks time — and whether that leak has a structure.

What it will measure

• Quote-to-fill drift. The signed price movement between the moment you committed to a trade and the moment it filled, as a distribution — not an anecdote. Random slippage is symmetric; structural disadvantage is not.
• Adverse-selection signatures. Whether the market systematically moves against you in the milliseconds around your own orders, conditioned on order type, session, and size — the fingerprint of being the slow counterparty.
• Rejection and requote structure. When and how your orders get rejected or requoted, and whether those events cluster exactly where an informed intermediary would want them to.

What it will not do

It will not name a culprit. Measured latency disadvantage has multiple innocent explanations — routing, session load, your own infrastructure — and the instrument enumerates them honestly beside every finding. It establishes that you are structurally slow and where it costs you, with distributions and sample sizes. What you do with that is between you and your broker.

Who it is for

Prop-desk operators and serious retail traders whose execution costs feel wrong but who currently have no way to distinguish bad luck from bad structure.