diff --git a/crates/aura-cli/src/main.rs b/crates/aura-cli/src/main.rs
index bc392e7..bbf9749 100644
--- a/crates/aura-cli/src/main.rs
+++ b/crates/aura-cli/src/main.rs
@@ -3409,6 +3409,64 @@ mod tests {
         assert_eq!(*bias.last().unwrap(), 1.0, "the down-fade long must hold to the end: {bias:?}");
     }
 
+    /// Property: the pip a run resolves and stamps into its manifest must be the
+    /// pip the in-graph `SimBroker` divides by — the resolved (real, per-instrument)
+    /// pip has to reach the graph, not just the manifest label. The `SimBroker`
+    /// integrates `exposure * (price - prev_price) / pip`, so the raw price-move
+    /// total `total_pips * pip` is pip-invariant: the SAME signal + prices run at
+    /// two different pips must agree on that product. If `pip` only decorates the
+    /// label and the graph always divides by the synthetic default, both runs
+    /// yield the identical `total_pips` and the invariant breaks (and real-data
+    /// pips are inflated by `1 / 0.0001 = 10^4`).
+    #[test]
+    fn run_blueprint_member_computes_pips_at_the_resolved_pip_not_a_hardwired_default() {
+        let env = project::Env::std();
+        // A price series that drives the meanrev signal into a definite non-flat
+        // exposure (short an up-move, long a down-move), so broker equity != 0 —
+        // the same idiom as the fade test above.
+        let closes = [
+            100.0, 100.0, 100.0, 100.0, 100.0, 100.0, 130.0, 130.0, 130.0, 70.0, 70.0, 70.0, 70.0,
+        ];
+        let make_source = || -> Vec<Box<dyn aura_engine::Source>> {
+            let prices: Vec<(Timestamp, Scalar)> = closes
+                .iter()
+                .enumerate()
+                .map(|(i, &c)| (Timestamp(i as i64), Scalar::f64(c)))
+                .collect();
+            vec![Box::new(VecSource::new(prices))]
+        };
+        let window = (Timestamp(0), Timestamp(closes.len() as i64 - 1));
+        let stop = StopRule::Vol { length: 3, k: 2.0 };
+        let space: Vec<ParamSpec> = vec![];
+        // Two per-instrument pips, an order of magnitude apart and both distinct
+        // from the synthetic 0.0001 — i.e. the real-data condition.
+        let pip_a = 1.0_f64;
+        let pip_b = 0.1_f64;
+        let report_a = run_blueprint_member(
+            r_meanrev_signal(Some(3), Some(0.0)), &[], &space, make_source(), window, 0, pip_a, "topo", &env, stop,
+        );
+        let report_b = run_blueprint_member(
+            r_meanrev_signal(Some(3), Some(0.0)), &[], &space, make_source(), window, 0, pip_b, "topo", &env, stop,
+        );
+        // Guard: the run must have actually traded, else the invariant is vacuous.
+        assert!(
+            report_a.metrics.total_pips.abs() > 0.0,
+            "test needs a non-flat run to be meaningful: {:?}",
+            report_a.metrics
+        );
+        // The pip-invariant raw price-move total must agree across the two pips.
+        let raw_a = report_a.metrics.total_pips * pip_a;
+        let raw_b = report_b.metrics.total_pips * pip_b;
+        assert!(
+            (raw_a - raw_b).abs() < 1e-9,
+            "total_pips must be computed at the resolved pip: pip={pip_a} gave total_pips={} \
+             (raw price-move {raw_a}), pip={pip_b} gave total_pips={} (raw price-move {raw_b}) \
+             — the resolved pip never reached the in-graph SimBroker",
+            report_a.metrics.total_pips,
+            report_b.metrics.total_pips,
+        );
+    }
+
     /// Loads the shipped closed r-sma example (fast=2, slow=4 bound) through the
     /// public `blueprint_from_json` path — the single call site so a fixture
     /// rename or vocabulary change is one edit, not fourteen.