{
  "ts_utc": "2026-01-10T18:00:00Z",
  "cycle_id": "BTC-ETHB12-20260110-0007",
  "symbol": "ETHB12/USDT",
  "side": "BUY",
  "price": 2100.5,
  "qty": 0.0123,
  "notional_usd": 25.85,
  "fee_usd": 0.01,
  "slippage_est_usd": 0.02,
  "spread_est_pct": 0.0012,
  "step_pct": 0.025,
  "min_step_pct": 0.0032,
  "regime": "RANGE",
  "inventory_before_usd": 38.1,
  "inventory_after_usd": 63.95,
  "paired_exit": {
    "side": "SELL",
    "price": 2153.01,
    "step_pct": 0.025
  },
  "notes": "Paired exit placed. Inventory under cap. Maker-first."
}