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+# Vol-slippage cost node + cost-graph composition — Design Spec
+
+**Date:** 2026-06-28
+**Status:** Draft — awaiting user spec review
+**Authors:** orchestrator + Claude
+
+> Cycle 2 of the "Cost-model graph (in R)" milestone (#148). Cycle 1 shipped the
+> first cost node (`ConstantCost`) and the net-R seam (`net_r_equity` tap +
+> `summarize_r` folding a single co-temporal cost stream). This cycle ships the
+> milestone's real architectural claim — **the cost graph composes**: a second,
+> structurally-different cost node (`VolSlippageCost`, state-dependent) plus an
+> aggregator (`CostSum`) that sums any number of cost nodes per-field into one
+> cost record, so `summarize_r` and the `net_r_equity` tap stay unchanged. All
+> fork decisions are recorded on #148.
+
+## Goal
+
+Demonstrate that the C10 cost model is a *composable graph of cost nodes*, not a
+single node, by:
+
+1. adding `VolSlippageCost` — a cost node whose per-trade charge scales with a
+   measured volatility input (state-dependent), distinct from `ConstantCost`'s
+   flat charge;
+2. adding `CostSum` — the cost-graph **output node**: it sums N cost nodes'
+   3-field cost-in-R records per-field into one aggregate cost record;
+3. wiring both into the stage1-r run path so `--cost-per-trade` and
+   `--slip-vol-mult` can be set together, their costs summing into the net-R
+   curve — with `summarize_r` and `net_r_equity` reading the **aggregate**,
+   structurally unchanged from cycle 1.
+
+A run with no cost flag stays a byte-identical gross-R baseline (the C18 golden
+floor). Scope is the run path only; sweep / walkforward / mc still pass `None`
+(the reduce-mode sweep-path cost remains the named deferral).
+
+## Architecture
+
+The cycle-1 seam already consumes a **single 3-field cost stream**
+`{cost_in_r, cum_cost_in_r, open_cost_in_r}` (`summarize_r` reads col 0 per
+close + col 2 for the window-end open row; `net_r_equity` is `LinComb(4)` over
+`[cum_realized_r, unrealized_r, −cum_cost_in_r, −open_cost_in_r]`). The
+composition design keeps that single-stream contract intact by inserting **one
+aggregator node** between the cost nodes and the seam:
+
+```
+exec (PositionManagement geometry) ─┬─> ConstantCost   ─┐
+                                    │                    ├─> CostSum(n) ─┬─> cost Recorder (3-wide) ─> summarize_r
+price ─> RollingMax/Min/Sub (vol) ──┴─> VolSlippageCost ─┘               └─> net_r_equity LinComb(4)
+```
+
+`CostSum` is the cost graph's output: every cost node emits the same 3-field
+cost-in-R record, `CostSum` sums them field-by-field, and the rest of the graph
+sees exactly the cycle-1 single cost record. Adding an Nth cost node later is one
+more `CostSum` input — `summarize_r`'s signature never changes again. For `n = 1`
+`CostSum` is the per-field identity, so the cost path is **uniform** (always
+cost-nodes → `CostSum` → seam); the single-`ConstantCost` case stays numerically
+identical to cycle 1 (identity sum).
+
+**Why a state-dependent vol input distinct from the stop's vol (load-bearing).**
+The stop is vol-based (`StopRule::Vol`, so `|entry − stop| = stop_dist ∝ vol`). A
+slippage scaled by *that same* vol would give
+`cost_in_R = k·vol / (k_stop·vol) = k/k_stop`, a **constant** — indistinguishable
+from `ConstantCost`, defeating the point of a second, state-dependent node. So
+`VolSlippageCost` reads an **independent, short-horizon** realized-range vol
+(window `SLIP_VOL_LENGTH`, deliberately distinct from `STAGE1_R_STOP_LENGTH`);
+`cost_in_R = k·vol_short / stop_dist` then varies trade-to-trade with the
+short/long vol ratio — genuinely state-dependent.
+
+## Concrete code shapes
+
+### User-facing program (the acceptance evidence)
+
+A trader who already charges a flat per-trade cost now composes a vol-scaled
+slippage on top and reads the *combined* drag on net R:
+
+```console
+$ aura run --harness stage1-r --real GER40 \
+    --cost-per-trade 1.0 --slip-vol-mult 0.5 --trace demo
+... gross E[R] = -0.007   net E[R] = -0.241 ...
+
+$ aura chart demo --panels      # gross r_equity vs net_r_equity, the cost drag of BOTH
+```
+
+`--cost-per-trade` alone, `--slip-vol-mult` alone, and both together are all
+valid; both-together is the composition the cycle proves. With neither flag, the
+output is the byte-identical gross-R baseline (no `net_r_equity` tap, no cost
+nodes).
+
+### `VolSlippageCost` (new node, aura-std) — mirrors `ConstantCost`
+
+A cost node identical to `ConstantCost` except: one extra `volatility` f64 input,
+the param is `slip_vol_mult` (`k`), and the per-trade charge numerator is
+`k · volatility` instead of a constant. Same 3-field cost-in-R output, same
+withhold/zero-latched discipline.
+
+```rust
+pub struct VolSlippageCost {
+    slip_vol_mult: f64,
+    cum: f64,
+    out: [Cell; 3],
+}
+
+impl VolSlippageCost {
+    pub fn new(slip_vol_mult: f64) -> Self {
+        assert!(slip_vol_mult >= 0.0, "VolSlippageCost slip_vol_mult must be >= 0");
+        Self { slip_vol_mult, cum: 0.0, out: [Cell::from_f64(0.0); 3] }
+    }
+
+    pub fn builder() -> PrimitiveBuilder {
+        PrimitiveBuilder::new(
+            "VolSlippageCost",
+            NodeSchema {
+                inputs: vec![
+                    PortSpec { kind: ScalarKind::Bool, firing: Firing::Any, name: "closed".into() },
+                    PortSpec { kind: ScalarKind::Bool, firing: Firing::Any, name: "open".into() },
+                    PortSpec { kind: ScalarKind::F64, firing: Firing::Any, name: "entry_price".into() },
+                    PortSpec { kind: ScalarKind::F64, firing: Firing::Any, name: "stop_price".into() },
+                    PortSpec { kind: ScalarKind::F64, firing: Firing::Any, name: "volatility".into() },
+                ],
+                output: vec![
+                    FieldSpec { name: "cost_in_r".into(), kind: ScalarKind::F64 },
+                    FieldSpec { name: "cum_cost_in_r".into(), kind: ScalarKind::F64 },
+                    FieldSpec { name: "open_cost_in_r".into(), kind: ScalarKind::F64 },
+                ],
+                params: vec![ParamSpec { name: "slip_vol_mult".into(), kind: ScalarKind::F64 }],
+            },
+            |p| Box::new(VolSlippageCost::new(p[0].f64())),
+        )
+    }
+}
+
+impl Node for VolSlippageCost {
+    fn lookbacks(&self) -> Vec<usize> { vec![1, 1, 1, 1, 1] }
+
+    fn eval(&mut self, ctx: Ctx<'_>) -> Option<&[Cell]> {
+        let closed_w = ctx.bool_in(0);
+        let open_w = ctx.bool_in(1);
+        let entry_w = ctx.f64_in(2);
+        let stop_w = ctx.f64_in(3);
+        let vol_w = ctx.f64_in(4);
+        if closed_w.is_empty() || open_w.is_empty() || entry_w.is_empty()
+            || stop_w.is_empty() || vol_w.is_empty()
+        {
+            return None;
+        }
+        let closed = closed_w[0];
+        let open = open_w[0];
+        let latched = (entry_w[0] - stop_w[0]).abs();
+        let vol = vol_w[0].max(0.0); // a negative range is impossible; clamp defensively
+        // Same zero-latched guard as ConstantCost: no valid 1R denominator -> no cost.
+        let per = if latched > 0.0 { self.slip_vol_mult * vol / latched } else { 0.0 };
+        let cost_in_r = if closed { per } else { 0.0 };
+        let open_cost_in_r = if open { per } else { 0.0 };
+        self.cum += cost_in_r;
+        self.out = [
+            Cell::from_f64(cost_in_r),
+            Cell::from_f64(self.cum),
+            Cell::from_f64(open_cost_in_r),
+        ];
+        Some(&self.out)
+    }
+
+    fn label(&self) -> String {
+        format!("VolSlippageCost({})", self.slip_vol_mult)
+    }
+}
+```
+
+### `CostSum` (new node, aura-std) — the cost-graph output
+
+```rust
+/// Sums `n_costs` cost-in-R records per-field into one aggregate cost record —
+/// the output node of a C10 cost-model graph. Each cost node contributes the
+/// 3-field {cost_in_r, cum_cost_in_r, open_cost_in_r} record; the aggregate is
+/// the per-field sum. `n_costs = 1` is the identity. Withholds until every input
+/// leg is present (mode-A as-of join, like LinComb).
+pub struct CostSum {
+    n_costs: usize,
+    out: [Cell; 3],
+}
+
+impl CostSum {
+    pub fn new(n_costs: usize) -> Self {
+        assert!(n_costs >= 1, "CostSum needs at least one cost input");
+        Self { n_costs, out: [Cell::from_f64(0.0); 3] }
+    }
+
+    /// `arity` (n_costs) is topology (fixed per blueprint, C19). Inputs are
+    /// `cost[k].{cost_in_r,cum_cost_in_r,open_cost_in_r}` for k in 0..n_costs,
+    /// in slot order; the 3-field output mirrors a single cost record.
+    pub fn builder(n_costs: usize) -> PrimitiveBuilder {
+        let mut inputs = Vec::with_capacity(n_costs * 3);
+        for k in 0..n_costs {
+            for field in ["cost_in_r", "cum_cost_in_r", "open_cost_in_r"] {
+                inputs.push(PortSpec {
+                    kind: ScalarKind::F64,
+                    firing: Firing::Any,
+                    name: format!("cost[{k}].{field}"),
+                });
+            }
+        }
+        PrimitiveBuilder::new(
+            "CostSum",
+            NodeSchema {
+                inputs,
+                output: vec![
+                    FieldSpec { name: "cost_in_r".into(), kind: ScalarKind::F64 },
+                    FieldSpec { name: "cum_cost_in_r".into(), kind: ScalarKind::F64 },
+                    FieldSpec { name: "open_cost_in_r".into(), kind: ScalarKind::F64 },
+                ],
+                params: vec![],
+            },
+            // arity is captured topology; no per-build params.
+            move |_| Box::new(CostSum::new(n_costs)),
+        )
+    }
+}
+
+impl Node for CostSum {
+    fn lookbacks(&self) -> Vec<usize> { vec![1; self.n_costs * 3] }
+
+    fn eval(&mut self, ctx: Ctx<'_>) -> Option<&[Cell]> {
+        let mut acc = [0.0_f64; 3]; // [cost_in_r, cum_cost_in_r, open_cost_in_r]
+        for k in 0..self.n_costs {
+            for f in 0..3 {
+                let w = ctx.f64_in(k * 3 + f);
+                if w.is_empty() {
+                    return None; // withhold until every cost leg is present
+                }
+                acc[f] += w[0];
+            }
+        }
+        self.out = [Cell::from_f64(acc[0]), Cell::from_f64(acc[1]), Cell::from_f64(acc[2])];
+        Some(&self.out)
+    }
+
+    fn label(&self) -> String {
+        format!("CostSum({})", self.n_costs)
+    }
+}
+```
+
+### `stage1_r_graph` cost block — before → after
+
+The signature's `cost` carrier widens from one `f64` to a small two-knob config.
+A new module const sits beside `STAGE1_R_STOP_LENGTH`:
+
+```rust
+/// Short-horizon realized-range window for vol-scaled slippage. Deliberately
+/// distinct from STAGE1_R_STOP_LENGTH: scaling slippage by the stop's own vol
+/// would collapse cost-in-R to a constant (see spec 0082 Architecture).
+const SLIP_VOL_LENGTH: i64 = 20;
+
+/// Which cost nodes the run-path cost graph builds. At least one field is `Some`
+/// (the outer `Option` is `None` when no cost flag was given).
+struct CostConfig {
+    const_cost: Option<f64>,     // --cost-per-trade
+    slip_vol_mult: Option<f64>,  // --slip-vol-mult
+}
+```
+
+```rust
+// signature: the cost tuple now carries the config, not a bare f64.
+cost: Option<(CostConfig, mpsc::Sender<(Timestamp, Vec<Scalar>)>, mpsc::Sender<(Timestamp, Vec<Scalar>)>)>,
+```
+
+**Single-feed discipline (load-bearing).** Every existing graph feeds the `price`
+source-role exactly once, with a multi-target array (`stage1_r_graph` at
+`crates/aura-cli/src/main.rs:2673`; the breakout/meanrev E2E graphs likewise).
+The vol proxy's `RollingMax`/`RollingMin` also read `price`, so rather than a
+second `g.feed` call the proxy is **hoisted above the single main feed** and its
+two input ports join the one `price_targets` array — staying on the exact
+single-feed pattern the suite already exercises:
+
+```rust
+// Hoisted above the main feed: build the short-horizon vol proxy iff a
+// vol-slippage cost is actually wired (run path, non-reduce), so its `price`
+// inputs join the SINGLE main feed (no second feed call).
+let vol_proxy = match &cost {
+    Some((cfg, _, _)) if !reduce && cfg.slip_vol_mult.is_some() => {
+        let vhi = g.add(RollingMax::builder().named("slip_vol_hi").bind("length", Scalar::i64(SLIP_VOL_LENGTH)));
+        let vlo = g.add(RollingMin::builder().named("slip_vol_lo").bind("length", Scalar::i64(SLIP_VOL_LENGTH)));
+        let vrange = g.add(Sub::builder().named("slip_vol_range"));
+        g.connect(vhi.output("value"), vrange.input("lhs"));
+        g.connect(vlo.output("value"), vrange.input("rhs"));
+        Some((vhi, vlo, vrange))
+    }
+    _ => None,
+};
+
+let price = g.source_role("price", ScalarKind::F64);
+let mut price_targets = vec![
+    fast.input("series"), slow.input("series"),
+    broker.input("price"), exec.input("price"),
+];
+if let Some((vhi, vlo, _)) = vol_proxy {
+    price_targets.push(vhi.input("series"));
+    price_targets.push(vlo.input("series"));
+}
+g.feed(price, price_targets);
+```
+
+The cost block (replacing lines 2698–2731) builds each named node, wires it to a
+`CostSum` slot, then points the existing `net_eq` (`LinComb(4)`) and the 3-wide
+cost `Recorder` at the **aggregate** instead of a single node. The vol-slippage
+arm consumes the hoisted `vol_proxy` rather than building its own (handles are
+`Copy` graph indices — `RollingMax`/`Sub` are used by handle multiple times in
+`stage1_breakout_graph` already):
+
+```rust
+if let Some((cfg, tx_net, tx_cost)) = cost {
+    let n = cfg.const_cost.is_some() as usize + cfg.slip_vol_mult.is_some() as usize;
+    let agg = g.add(CostSum::builder(n));
+    let mut slot = 0usize;
+
+    if let Some(cpt) = cfg.const_cost {
+        let cc = g.add(ConstantCost::builder().bind("cost_per_trade", Scalar::f64(cpt)));
+        g.connect(exec.output("closed_this_cycle"), cc.input("closed"));
+        g.connect(exec.output("open"), cc.input("open"));
+        g.connect(exec.output("entry_price"), cc.input("entry_price"));
+        g.connect(exec.output("stop_price"), cc.input("stop_price"));
+        for field in ["cost_in_r", "cum_cost_in_r", "open_cost_in_r"] {
+            g.connect(cc.output(field), agg.input(format!("cost[{slot}].{field}").as_str()));
+        }
+        slot += 1;
+    }
+
+    if let Some(svm) = cfg.slip_vol_mult {
+        let (_, _, vrange) = vol_proxy.expect("vol proxy is built whenever slip_vol_mult is set");
+        let vs = g.add(VolSlippageCost::builder().bind("slip_vol_mult", Scalar::f64(svm)));
+        g.connect(exec.output("closed_this_cycle"), vs.input("closed"));
+        g.connect(exec.output("open"), vs.input("open"));
+        g.connect(exec.output("entry_price"), vs.input("entry_price"));
+        g.connect(exec.output("stop_price"), vs.input("stop_price"));
+        g.connect(vrange.output("value"), vs.input("volatility"));
+        for field in ["cost_in_r", "cum_cost_in_r", "open_cost_in_r"] {
+            g.connect(vs.output(field), agg.input(format!("cost[{slot}].{field}").as_str()));
+        }
+        slot += 1;
+    }
+    debug_assert_eq!(slot, n);
+
+    // net_r_equity = cum_realized_r + unrealized_r - Σcum_cost_in_r - Σopen_cost_in_r
+    let net_eq = g.add(
+        LinComb::builder(4)
+            .bind("weights[0]", Scalar::f64(1.0))
+            .bind("weights[1]", Scalar::f64(1.0))
+            .bind("weights[2]", Scalar::f64(-1.0))
+            .bind("weights[3]", Scalar::f64(-1.0)),
+    );
+    g.connect(exec.output("cum_realized_r"), net_eq.input("term[0]"));
+    g.connect(exec.output("unrealized_r"), net_eq.input("term[1]"));
+    g.connect(agg.output("cum_cost_in_r"), net_eq.input("term[2]"));
+    g.connect(agg.output("open_cost_in_r"), net_eq.input("term[3]"));
+    let net_rec = g.add(Recorder::builder(vec![ScalarKind::F64], Firing::Any, tx_net));
+    g.connect(net_eq.output("value"), net_rec.input("col[0]"));
+
+    // The aggregate cost record summarize_r folds (col 0 per-close, col 2 window-end).
+    let cost_rec = g.add(Recorder::builder(
+        vec![ScalarKind::F64, ScalarKind::F64, ScalarKind::F64],
+        Firing::Any,
+        tx_cost,
+    ));
+    g.connect(agg.output("cost_in_r"), cost_rec.input("col[0]"));
+    g.connect(agg.output("cum_cost_in_r"), cost_rec.input("col[1]"));
+    g.connect(agg.output("open_cost_in_r"), cost_rec.input("col[2]"));
+}
+```
+
+### `run_stage1_r`, `RunArgs`, `parse_run_args` — before → after
+
+`run_stage1_r` takes both knobs and builds the `CostConfig` when either is set:
+
+```rust
+// before: fn run_stage1_r(data: RunData, trace: Option<&str>, cost: Option<f64>) -> RunReport
+fn run_stage1_r(
+    data: RunData,
+    trace: Option<&str>,
+    const_cost: Option<f64>,
+    slip_vol_mult: Option<f64>,
+) -> RunReport {
+    // ...
+    let cost = if const_cost.is_some() || slip_vol_mult.is_some() {
+        Some((CostConfig { const_cost, slip_vol_mult }, tx_net, tx_cost))
+    } else {
+        None
+    };
+    // ... stage1_r_graph(..., cost)
+}
+```
+
+`RunArgs` gains `slip_vol_mult: Option<f64>`; `parse_run_args` parses
+`--slip-vol-mult <f64>` (at most once, `>= 0`), mirroring `--cost-per-trade`;
+`run_dispatch` threads both into the stage1-r arm. The usage strings gain
+`[--slip-vol-mult <f64>]`.
+
+### `summarize_r` — unchanged
+
+No signature change. It still folds **one** co-temporal 3-field cost stream
+(`crates/aura-analysis/src/lib.rs:171`); that stream is now `CostSum`'s recorded
+aggregate. This is the whole point of the aggregator: the analysis fold is
+agnostic to how many cost nodes the graph ran.
+
+## Components
+
+- **`VolSlippageCost`** (`crates/aura-std/src/vol_slippage_cost.rs`, new):
+  state-dependent cost node; `cost_in_r = slip_vol_mult · volatility / |entry −
+  stop|`, charged on close, would-be on the open window-end row.
+- **`CostSum`** (`crates/aura-std/src/cost_sum.rs`, new): per-field sum of N cost
+  records; the cost-graph output node; identity for `n = 1`.
+- **aura-std `lib.rs`**: `mod` + `pub use` for both new nodes.
+- **`stage1_r_graph`** (`crates/aura-cli/src/main.rs`): the cost block above;
+  `CostConfig` struct + `SLIP_VOL_LENGTH` const; widened `cost` carrier.
+- **`run_stage1_r` / `RunArgs` / `parse_run_args` / `run_dispatch`** (same file):
+  the `--slip-vol-mult` thread-through.
+
+## Data flow
+
+Per cycle, `PositionManagement` (`exec`) emits its dense geometry record and the
+price feeds the short-horizon `RollingMax/RollingMin/Sub` vol proxy. Each present
+cost node reads `{closed, open, entry_price, stop_price[, volatility]}`, emits its
+3-field cost-in-R record. `CostSum` sums them per-field into one aggregate record
+(co-temporal 1:1 with PM — every cost node and the aggregate emit exactly when PM
+emits, preserving the positional-join contract `summarize_r` relies on). The
+aggregate feeds the 3-wide cost `Recorder` (→ `summarize_r`) and the
+`net_r_equity` `LinComb(4)` tap (→ the net curve). Gross `r_equity` is untouched.
+
+## Error handling
+
+- Negative `slip_vol_mult` → `VolSlippageCost::new` panics (constructor invariant,
+  matching `ConstantCost`); `parse_run_args` also rejects `--slip-vol-mult < 0`.
+- `n_costs < 1` → `CostSum::new` panics (never reached: the cost block builds
+  `CostSum` only inside `if let Some(cost)`, where `n >= 1`).
+- Zero latched distance (`entry == stop`) → no cost (the shared 1R-denominator
+  guard), matching `ConstantCost` and `summarize_r`.
+- A negative vol range (impossible from `max − min`, but defended) is clamped to
+  `0.0`.
+- Warm-up: before the vol window fills, `vrange` (hence `VolSlippageCost`)
+  withholds, so the earliest trades within `SLIP_VOL_LENGTH` bars carry no
+  slippage; documented, not an error.
+
+## Testing strategy
+
+RED-first per task.
+
+1. **`VolSlippageCost` unit** (in the node module, vol fed directly as an input
+   column — no graph warm-up): closed charges `k·vol/latched`; open emits the
+   would-be cost, uncharged to `cum`; `cum` accumulates across closes; zero
+   latched → no cost; withholds until all five inputs present; negative-mult
+   panic; `label` carries the mult. Mirrors the `ConstantCost` test set.
+2. **`CostSum` unit**: two 3-field inputs sum per-field; `n = 1` is identity;
+   withholds until every leg present; `n < 1` panic.
+3. **Composition E2E** (`crates/aura-engine/tests/` or `aura-cli/tests/`): a
+   stage1-r run with both `--cost-per-trade` and `--slip-vol-mult` set produces a
+   net total equal to the **exact per-trade sum** of the two costs — i.e. net ==
+   `mean(rᵢ − cc_i − vs_i)` hand-computed over all trades incl. the window-end
+   one; and `net_r_equity`'s final sample == that net total (in-graph ==
+   post-run agreement, as cycle 1).
+4. **Single-node-via-aggregate**: a `--slip-vol-mult`-only run folds correctly
+   through `CostSum(1)`; and a `--cost-per-trade`-only run is **numerically
+   unchanged** from cycle 1 (the `CostSum(1)` identity does not move the net).
+5. **No-cost baseline byte-identical**: the C18 golden (no cost flags → no
+   `net_r_equity` tap, no cost nodes) is unchanged — the regression floor.
+6. **Cross-reducer equality** stays green at no-cost (existing test).
+
+## Acceptance criteria
+
+- A trader composes a flat cost and a vol-scaled slippage in one invocation and
+  reads the combined net-R drag (the worked example runs and charts).
+- `CostSum` makes the cost graph composable without touching `summarize_r` or the
+  `net_r_equity` `LinComb(4)` arity (only their *source* moves to the aggregate).
+- Composition is exact: net == the per-trade sum of both costs over all trades
+  incl. the window-end one.
+- The no-cost run is byte-identical (C18 golden held); the `--cost-per-trade`-only
+  run is numerically unchanged from cycle 1.
+- Determinism / causality / feed-forward (C1/C2) preserved: the vol proxy is a
+  trailing realized range (no look-ahead), the cost path is pure feed-forward, no
+  equity feedback.
+- The general `CostNode` trait and the cost-graph composite-builder remain
+  deferred (designed against two shipped nodes in a later cycle); sweep-path cost
+  remains deferred.