Forty milliseconds.
That’s the only parameter that mattered and I still treated it like a suggestion.
Volatility window. Same price, same size. Competitive execution timing on Fogo turns “basically simultaneous” into a joke you tell yourself.
I roll my neck, crack my knuckles like the ultra-low block time cadence can hear joints. Wipe my thumb on my jeans dry then click. Little surge of got it.
Then the stupid double-click on nothing, like extra pressure makes you earlier on Fogo.
The receipt comes back partial.
Partial.
I hold my breath without meaning to. Cursor parked on replace. Finger resting. Waiting for conviction to finish loading.
Bad instinct.
The on-chain order book infrastructure holds its shape. Next rotation lands and deterministic execution ordering just sorts. One clears. The other posts. My quote turns into a wall and somebody else exits through it like they were already standing there on Fogo.
I drag my chair closer. Tap over to Fogoscan. Same numbers. Same quiet. I circle the mouse once on the desk, slow, like I can sand time down.
High-frequency state propagation doesn’t give me a pause to argue in. Settlement is already closed before the desk reacts.
I open a ticket. Paste the delta into the title. Hover “category.” Leave it blank.
“timing?” delete.
“ordering?” delete.
“latency?” delete.
Chat: “fill?”
Then: “why partial”
I refresh again. Hate that I did.
Latency as market risk isn’t a line. It’s my finger still hovering over cancel on Fogo.
Not yet.