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ResearchFormerly WizWand

Fair Order Matching on DeFi crypto-asset LOB BTC, ETH, SOL (500,000 held-out steps)

0.984MQSUnconstrained PPO

Evaluation results

Method	Links
Unconstrained PPO2026.04		0.984	1.82	89.4	0.291	92.3	12.45	0.82
CPO-FOAM2026.04		0.968	1.91	88.5	0.021	3.2	0.65	0.85
No Spectral Norm2026.04		0.952	1.88	87.9	0.051	6.4	0.92	0.65
No PID (ξ = 0)2026.04		0.941	2.01	86.1	0.084	14.3	2.98	0.84
Universal Fine-Tuned2026.04		0.925	1.95	87.1	0.015	0.5	0.72	0.85
No KL Projection2026.04		0.915	2.08	84.6	0.064	8.5	1.85	0.82
PID-Lagrangian2026.04		0.892	2.12	82.7	0.071	8.2	2.85	0.88
RCPO2026.04		0.881	2.1	83.1	0.104	14.2	4.15	0.84
Lagrangian PPO2026.04		0.865	2.14	81.2	0.112	18.4	4.82	0.84
Universal Zero-Shot2026.04		0.86	2.65	81.5	0.041	4.2	0.85	0.85
CPO (Vanilla)2026.04		0.854	2.05	80.4	0.092	15.6	3.1	0.95
No Recovery Step2026.04		0.852	2.25	72.8	0.091	11.2	0.88	0.85
IPO2026.04		0.825	2.35	78.5	0.081	11.5	3.95	0.86
No Trust Region2026.04		0.812	2.44	75.2	0.121	19.8	4.51	0.75
Batch Auction2026.04		0.741	6.1	48.9	0.091	22.5	—	12,000
CLAMM2026.04		0.714	3.88	82.1	0.32	86.5	—	0.03
MEV-Aware FIFO2026.04		0.687	4.05	55.1	0.142	71.4	—	145
FIFO (CLOB)2026.04		0.652	4.15	58.2	0.245	84.1	—	0.05
Pro-Rata2026.04		0.618	5.21	62.3	0.154	62.3	—	0.08
CPAMM2026.04		0.521	8.42	99.9	0.381	91.2	—	0.02
Random Matching2026.04		0.125	25.4	15.2	0.01	0	0	0.01