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A position lifecycle is one complete position — open → scale → close — reconstructed from a wallet’s on-chain fills. Instead of a flat list of trades, you get the full arc of each position: entry/exit VWAP, peak size, hold duration, fees, realized PnL, and liquidation status. Pulse re-derives every lifecycle from the corrected fill history and enriches each one with MAE/MFE, unlocking execution-quality analysis — not just realized PnL.

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MAE / MFE

For every closed perp position, Pulse records the two price extremes it lived through while open:
  • MAE — Maximum Adverse Excursion: the worst the price went against the position (the deepest unrealized drawdown it survived).
  • MFE — Maximum Favorable Excursion: the best the price went for the position (the peak unrealized profit it reached).
These are direction-aware: for a long, MAE ≤ entry ≤ MFE; for a short, MAE ≥ entry ≥ MFE.
Why it matters. Two wallets can both book +$10k on the same coin — one after white-knuckling a 50% drawdown and getting bailed out, the other never going 3% underwater. Same PnL, completely different trader. MAE/MFE is the first time you can separate skill from luck — and tell which wallets are actually worth following.
MAE/MFE is perp-only — spot positions have no adverse/favorable excursion by design. The very freshest closes may briefly show null MAE/MFE until the risk backfill catches up (it refreshes hourly). MAE/MFE are emitted only when non-zero, which in practice means larger positions, so filter by notional when you need rows that carry them.

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What you can ask

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Trader archetypes

Because lifecycles capture the full arc of every position over a rolling 90-day window, Pulse can group wallets by how their positions played out:
  • Survivors / anti-survivors — wallets that hit a deep cumulative-PnL trough then recovered (or never did).
  • Persistent winners — profitable across multiple distinct months.
  • Fee efficiency (pulse_fee_efficiency_leaderboard) — realized PnL per dollar of fees paid.
  • Single large month, then giveback (pulse_single_month_giveback_wallets) — one large profitable month, part of which was later given back.
  • Newcomer whales — a recent first lifecycle with large notional.
  • Top earners by coin (pulse_top_earners_by_coin) — the highest-PnL wallet(s) on each coin.
  • Top liquidators / liquidation rate by coin (pulse_top_liquidators, pulse_liquidation_rate_by_coin) — which wallets execute the most liquidations, and which coins have the highest share of positions liquidated.

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Refreshed cohorts

The pulse_cohort_recent_* tools classify wallets by their last-30-day tier (pnl_tier_recent / size_tier_recent) instead of all-time — reflecting recent performance and showing changes the all-time cohort tools miss. Same dollar thresholds as the all-time tiers, refreshed hourly. The same labels are available as tierType=pnl_recent on live_positioning_by_entry and live_cohort_bias_history. See Trader cohorts.

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Window & freshness

  • Lifecycle endpoints use a rolling 90-day window (positions closed within the last 90 days, plus any still-open positions).
  • Precomputed lifecycle aggregates (archetypes, market structure, cohorts) refresh hourly.
  • Spot pairs (@-prefixed coins) are excluded by default.
See the MCP tool catalog for every lifecycle tool, or the API reference for endpoint schemas.