Clarify dashboard edge units

Proof: operator dashboard now labels configured strategy edge as bps plus percent and labels quote opportunity edge as gross edge percent, preventing configured edge_bps=20 from being read as 20%.

Assumptions: this is a display-only fix; strategy decisions, relay submissions, pair enablement, edge thresholds, notional limits, inventory, arming, and response policy are unchanged.

Still fake: venue-native terminal fill ids and fee-complete realized PnL remain unavailable.

src/operator-dashboard/static/pages/StrategyPage.jsx

@@ -115,6 +115,18 @@ function grossEdgeEstimate(item) {
   return symbol ? `${item.gross_edge_value} ${symbol}` : item.gross_edge_value;
 }
 
+function formatGrossEdgePct(value) {
+  if (value == null || value === '') return 'Gross edge unavailable';
+  return `Gross edge ${value}%`;
+}
+
+function formatConfiguredEdgeBps(value, { prefix = true } = {}) {
+  const number = Number(value);
+  if (!Number.isFinite(number)) return prefix ? 'Configured edge unavailable' : 'Unavailable';
+  const label = `${value} bps (${(number / 100).toFixed(2)}%)`;
+  return prefix ? `Configured edge ${label}` : label;
+}
+
 function notionalLabel(item) {
   if (item.notional_display) return item.notional_display;
   if (item.notional != null) return `${item.notional}${item.notional_symbol ? ` ${item.notional_symbol}` : ''}`;
@@ -212,7 +224,8 @@ function LifecycleDetails({ item }) {
 
         <StageCard at={item.decision_at} status={strategyDecisionStatus(item.decision)} title="2. Strategy decided">
           <div>{plainCodeLabel(item.decision?.decision_reason || item.reason_code, 'No decision reason recorded')}</div>
-          <div className="status-subtle">{item.gross_edge_pct ? `Edge ${item.gross_edge_pct}%` : 'Edge unavailable'}</div>
+          <div className="status-subtle">{formatGrossEdgePct(item.gross_edge_pct)}</div>
+          <div className="status-subtle">{formatConfiguredEdgeBps(item.edge_bps)}</div>
           <div className="status-subtle">{notionalLabel(item)}</div>
         </StageCard>
 
@@ -532,7 +545,7 @@ function QuoteLifecycleTable({ items }) {
                 <th>Responded?</th>
                 <th>Result</th>
                 <th>Reason</th>
-                <th>Edge / notional</th>
+                <th>Gross edge / notional</th>
                 <th>Lifecycle</th>
               </tr>
             </thead>
@@ -563,7 +576,8 @@ function QuoteLifecycleTable({ items }) {
                         <div className="status-subtle mono">{item.reason_code || 'reason_unknown'}</div>
                       </td>
                       <td>
-                        <div className={Number(item.gross_edge_pct) > 0 ? 'value-positive' : Number(item.gross_edge_pct) < 0 ? 'value-negative' : ''}>{item.gross_edge_pct ? `${item.gross_edge_pct}%` : 'Unavailable'}</div>
+                        <div className={Number(item.gross_edge_pct) > 0 ? 'value-positive' : Number(item.gross_edge_pct) < 0 ? 'value-negative' : ''}>{formatGrossEdgePct(item.gross_edge_pct)}</div>
+                        <div className="status-subtle">{formatConfiguredEdgeBps(item.edge_bps)}</div>
                         <div className="status-subtle">{notionalLabel(item)}</div>
                       </td>
                       <td>
@@ -614,7 +628,7 @@ function SuccessfulTradesTable({ items }) {
           <tr>
             <th>Completed</th>
             <th>Quote id</th>
-            <th>Edge</th>
+            <th>Gross edge</th>
             <th>Gross edge est.</th>
             <th>Settlement</th>
             <th>Realized PnL</th>
@@ -631,7 +645,8 @@ function SuccessfulTradesTable({ items }) {
                   <td>{formatTimestamp(item.latest_stage_at)}</td>
                   <td><IdentifierRow label="Quote" value={item.quote_id} /></td>
                   <td>
-                    <div>{item.gross_edge_pct ? `${item.gross_edge_pct}%` : 'Unavailable'}</div>
+                    <div>{formatGrossEdgePct(item.gross_edge_pct)}</div>
+                    <div className="status-subtle">{formatConfiguredEdgeBps(item.edge_bps)}</div>
                     <div className="status-subtle">{notionalLabel(item)}</div>
                   </td>
                   <td>
@@ -998,7 +1013,7 @@ function PairConfigSection({ assetCatalog, pairConfig, onControl }) {
             <tr>
               <th>Pair</th>
               <th>Mode</th>
-              <th>Edge</th>
+              <th>Configured edge</th>
               <th>Limits</th>
               <th>Route</th>
               <th>Blocked</th>
@@ -1025,7 +1040,7 @@ function PairConfigSection({ assetCatalog, pairConfig, onControl }) {
                     <div className="status-subtle mono">{truncateMiddle(pairId, 42)}</div>
                   </td>
                   <td><Pill label={pair.mode || pair.status} stateLabel={pair.canTrade || pair.can_trade ? 'healthy' : 'warning'} /></td>
-                  <td>{strategyConfig.edge_bps ?? 'Unavailable'} bps</td>
+                  <td>{formatConfiguredEdgeBps(strategyConfig.edge_bps, { prefix: false })}</td>
                   <td>
                     <div>{strategyConfig.max_notional || 'Unavailable'} max</div>
                     <div className="status-subtle">

test/operator-dashboard-ui-static.test.mjs

@@ -132,6 +132,14 @@ test('strategy page exposes maker timing waterfall and competitiveness summaries
   assert.match(stylesSource, /\.timing-waterfall-table/);
 });
 
+test('strategy page distinguishes configured bps from gross quote edge percent', () => {
+  assert.match(strategySource, /formatConfiguredEdgeBps/);
+  assert.match(strategySource, /Configured edge/);
+  assert.match(strategySource, /Gross edge/);
+  assert.match(strategySource, /number \/ 100/);
+  assert.doesNotMatch(strategySource, /Edge \$\{item\.edge_bps\}%/);
+});
+
 test('pair controls are rendered before the long asset catalog table', () => {
   assert.ok(
     strategySource.indexOf('<PairConfigSection') < strategySource.indexOf('<AssetCatalogSection'),