> ## Documentation Index
> Fetch the complete documentation index at: https://docs.coinversa.ai/llms.txt
> Use this file to discover all available pages before exploring further.

# Position lifecycles & execution quality

> Every position reconstructed open→close from on-chain fills, with MAE/MFE — analyze how a trade was managed, not just its PnL.

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 0.8.0 re-derives every lifecycle from the corrected fill history and enriches each one with **MAE/MFE**, unlocking *execution-quality* analysis — not just realized PnL.

## 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`.

<Info>
  **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.
</Info>

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).

## What you can ask

| Question                                                | Tool                             |
| ------------------------------------------------------- | -------------------------------- |
| Show me every position this wallet opened and closed    | `pulse_trader_lifecycles`        |
| What are this wallet's position-level stats?            | `pulse_trader_lifecycle_summary` |
| Break one position down into its composing fills        | `pulse_lifecycle`                |
| How far underwater did each position go before working? | `pulse_wallet_drawdown_curve`    |
| Which winners survived the deepest drawdowns?           | `pulse_max_pain_events`          |
| Who exited closest to the top?                          | `pulse_perfect_exits`            |
| What just closed across the whole exchange?             | `pulse_lifecycles_recent`        |

## Trader archetypes

Because lifecycles capture the full arc of every position over a rolling 90-day window, Pulse can surface behavioral archetypes nobody else computes:

* **Survivors / anti-survivors** — wallets that hit a deep cumulative-PnL trough then recovered (or never did).
* **Persistent winners** — profitable across multiple distinct months, not lucky once.
* **Capital titans** — the best PnL per dollar of fees paid.
* **One-month wonders** — huge in a single month, then gave it back.
* **Newcomer whales** — a recent first lifecycle but already moving large notional.
* **Coin kings** — the top earner of each coin.
* **Top liquidators / lethal coins** — who profits from liquidating others, and which coins blow people up most often.

## 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 — surfacing who is printing *right now* and catching regime changes the all-time [cohort](/concepts/cohorts) tools miss.

## 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](/mcp/tools) for every lifecycle tool, or the [API reference](/api-reference) for endpoint schemas.