diff --git a/condor/agents/engine.py b/condor/agents/engine.py
index bff3aeec9..6fbc46169 100644
--- a/condor/agents/engine.py
+++ b/condor/agents/engine.py
@@ -647,6 +647,16 @@ async def _gather_tick_context(self, client) -> _TickContext | None:
         risk_state.total_exposure = float(
             self._last_skill_data.get("total_exposure", 0.0) or 0.0
         )
+        # A pending order nothing could price is exposure of unknown size, not
+        # zero: the book cannot size a create, so it refuses them like any
+        # other missing metric while every brake still passes.
+        unpriced = self._last_skill_data.get("unpriced_exposure") or []
+        if unpriced:
+            risk_state.book_trusted = False
+            risk_state.drift_reason = (
+                f"no price for pending executor(s) {', '.join(unpriced)}, "
+                "so their exposure is unknown"
+            )
         self._apply_drift_verdict(risk_state, drift_result)
 
         # Hard kill-switch: escalate to an emergency winddown before the soft
diff --git a/condor/agents/providers/executors.py b/condor/agents/providers/executors.py
index 0d0e7a733..468644fc9 100644
--- a/condor/agents/providers/executors.py
+++ b/condor/agents/providers/executors.py
@@ -20,6 +20,45 @@
 log = logging.getLogger(__name__)
 
 
+async def _price_pending_rows(client: Any, running: list[dict]) -> list[str]:
+    """Value the running rows the row builder could not, at the live price.
+
+    A market order still pending at the next tick reports no entry, no limit
+    price and no fill, so ``build_executor_row`` -- pure, no client -- sizes it
+    at 0. The risk gate priced that same create at the live price before
+    approving it (``condor.agents.risk._planned_amount_quote``); dropping it
+    from the book one tick later let a second create through a position cap the
+    two together exceed. So it is priced here the way the gate priced it.
+
+    Rows are updated in place. Returns the ids that still have no price: their
+    exposure is unknown, not zero, and the caller must say so.
+    """
+    from condor.fetchers.market_data import fetch_current_price
+
+    prices: dict[tuple[str, str], float] = {}
+    unpriced: list[str] = []
+    for row in running:
+        if row.get("amount", 0) > 0:
+            continue
+        try:
+            base = float((row.get("config") or {}).get("amount") or 0)
+        except (TypeError, ValueError):
+            base = 0.0
+        if base <= 0:
+            continue
+        market = (row.get("connector") or "", row.get("pair") or "")
+        if market not in prices:
+            try:
+                prices[market] = float(await fetch_current_price(client, *market) or 0)
+            except (TypeError, ValueError):
+                prices[market] = 0.0
+        if prices[market] > 0:
+            row["amount"] = base * prices[market]
+        else:
+            unpriced.append(row.get("id") or "?")
+    return unpriced
+
+
 class ExecutorsProvider(BaseProvider):
     name = "executors"
     is_core = True
@@ -139,6 +178,13 @@ async def execute(
                 "concluding this session is break-even."
             )
 
+        unpriced = await _price_pending_rows(client, running)
+        if unpriced:
+            lines.append(
+                f"  ⚠️ No price for pending executor(s) {', '.join(unpriced)} — "
+                "their exposure is unknown, so new positions are refused until "
+                "they fill or a price is available."
+            )
         total_exposure = sum(r.get("amount", 0) for r in running)
 
         return ProviderResult(
@@ -153,6 +199,7 @@ async def execute(
                 "total_volume": perf.volume,
                 "total_fees": perf.fees,
                 "total_exposure": total_exposure,
+                "unpriced_exposure": unpriced,
                 "open_count": perf.open_count,
                 "closed_count": perf.closed_count,
                 "win_rate": perf.win_rate,
diff --git a/condor/fetchers/executors.py b/condor/fetchers/executors.py
index 5bd2a1960..9cecbd614 100644
--- a/condor/fetchers/executors.py
+++ b/condor/fetchers/executors.py
@@ -134,6 +134,53 @@ def get_executor_fees(executor: Dict[str, Any]) -> float:
     return 0.0
 
 
+def _quote_size(
+    ex: Dict[str, Any],
+    cfg: Dict[str, Any],
+    custom_info: Dict[str, Any],
+    entry_price: float,
+    current_price: float,
+) -> float:
+    """An executor's size in QUOTE currency -- the row's ``amount``.
+
+    Each executor type sizes itself in a different field and a different unit:
+
+    - grid: ``total_amount_quote``, already quote.
+    - dca: the ``amounts_quote`` ladder, already quote.
+    - position / order: ``amount`` in BASE currency, priced at the entry (or the
+      order's limit ``price``, or the live price for a market order) -- the same
+      base-times-price rule the risk gate prices a create with
+      (``condor.agents.risk._planned_amount_quote``), so the book it reads next
+      tick agrees with what it approved.
+    - lp: ``custom_info.total_value_quote``, the position's current value.
+
+    A base ``amount`` with no price to value it at falls back to the quote the
+    executor reports as filled, and otherwise to 0: it is never returned as-is.
+    Summed as exposure, a base figure made 2.9 LTC read as $2.90, so a $0.70
+    loss on a ~$200 position read as a 24% drawdown and tripped the kill switch.
+    That 0 means "not priced here", not "no exposure": the agents' executors
+    provider, which has a client, prices such a row at the live price.
+    """
+    total = float(cfg.get("total_amount_quote") or 0)
+    if total > 0:
+        return total
+    ladder = cfg.get("amounts_quote")
+    if isinstance(ladder, list) and ladder:
+        try:
+            total = sum(float(v or 0) for v in ladder)
+        except (TypeError, ValueError):
+            total = 0.0
+        if total > 0:
+            return total
+    base = float(cfg.get("amount") or 0)
+    if base > 0:
+        price = entry_price or float(cfg.get("price") or 0) or current_price
+        if price > 0:
+            return base * price
+        return float(ex.get("filled_amount_quote") or 0)
+    return float(custom_info.get("total_value_quote") or 0)
+
+
 def build_executor_row(ex: Dict[str, Any]) -> Dict[str, Any]:
     """Canonical display row for one raw executor.
 
@@ -192,9 +239,7 @@ def build_executor_row(ex: Dict[str, Any]) -> Dict[str, Any]:
             current_price = _candidate
             break
 
-    amount = float(cfg.get("total_amount_quote") or cfg.get("amount") or 0)
-    if amount <= 0:
-        amount = float(custom_info.get("total_value_quote") or 0)
+    amount = _quote_size(ex, cfg, custom_info, entry_price, current_price)
 
     return {
         "id": str(ex.get("id") or ex.get("executor_id") or ""),
diff --git a/tests/test_executor_row_amount_quote.py b/tests/test_executor_row_amount_quote.py
new file mode 100644
index 000000000..0b92bf707
--- /dev/null
+++ b/tests/test_executor_row_amount_quote.py
@@ -0,0 +1,171 @@
+"""An executor row's ``amount`` is its size in QUOTE currency, for every type.
+
+The providers sum it into ``total_exposure``, which is both the drawdown's
+denominator (``JournalManager.get_drawdown_pct``) and the book the position cap
+adds a new create to (``RiskEngine.check_executor_action``). A position/order
+executor's config ``amount`` is BASE, and it used to flow through unpriced: a
+~$200 LTC position counted as $2.90, so a $0.70 loss read as a 24% drawdown and
+tripped the kill switch -- while a $300 BTC position counted as $0.003 and left
+the $500 cap effectively open.
+"""
+
+import asyncio
+
+import pytest
+
+from condor.agents.journal import JournalManager
+from condor.agents.performance import AgentPerformance, _executor_row
+from condor.agents.providers.executors import ExecutorsProvider
+from condor.agents.risk import RiskEngine, RiskLimits, RiskState
+from condor.fetchers.executors import build_executor_row
+
+
+def _ltc_position(**overrides):
+    ex = {
+        "id": "ltc-1",
+        "status": "RUNNING",
+        "filled_amount_quote": 200.1,
+        "config": {
+            "type": "position_executor",
+            "connector_name": "bitget_perpetual",
+            "trading_pair": "LTC-USDT",
+            "side": "BUY",
+            "amount": 2.9,
+            "entry_price": 69.0,
+        },
+        "custom_info": {"current_price": 68.76},
+    }
+    ex.update(overrides)
+    return ex
+
+
+def test_position_executor_base_amount_is_priced_at_entry():
+    assert build_executor_row(_ltc_position())["amount"] == pytest.approx(200.1)
+
+
+def test_market_position_without_entry_is_priced_at_average_fill():
+    ex = _ltc_position()
+    del ex["config"]["entry_price"]
+    ex["custom_info"]["current_position_average_price"] = 70.0
+
+    assert build_executor_row(ex)["amount"] == pytest.approx(203.0)
+
+
+def test_limit_order_executor_is_priced_at_its_limit_price():
+    ex = {
+        "config": {"type": "order_executor", "amount": 0.003, "price": 100_000.0},
+    }
+
+    assert build_executor_row(ex)["amount"] == pytest.approx(300.0)
+
+
+def test_market_order_executor_is_priced_at_its_fill():
+    ex = {
+        "config": {"type": "order_executor", "amount": 0.003},
+        "custom_info": {"held_position_orders": [{"price": 100_000.0}]},
+    }
+
+    assert build_executor_row(ex)["amount"] == pytest.approx(300.0)
+
+
+def test_unpriceable_base_amount_falls_back_to_filled_quote_never_base():
+    ex = {"filled_amount_quote": 150.0, "config": {"amount": 2.9}}
+    assert build_executor_row(ex)["amount"] == 150.0
+
+    assert build_executor_row({"config": {"amount": 2.9}})["amount"] == 0.0
+
+
+@pytest.mark.parametrize(
+    "ex,expected",
+    [
+        ({"config": {"type": "grid_executor", "total_amount_quote": 300}}, 300.0),
+        ({"config": {"type": "dca_executor", "amounts_quote": [50, "50"]}}, 100.0),
+        (
+            {
+                "config": {"type": "lp_executor"},
+                "custom_info": {"total_value_quote": 9.97},
+            },
+            9.97,
+        ),
+    ],
+)
+def test_quote_denominated_types_are_read_as_is(ex, expected):
+    assert build_executor_row(ex)["amount"] == pytest.approx(expected)
+
+
+def test_ltc_loss_is_measured_against_its_quote_size(monkeypatch, tmp_path):
+    """The reported incident, end to end: provider exposure -> journal drawdown."""
+
+    async def _fake(client, agent_id, **_kw):
+        return AgentPerformance(
+            agent_id=agent_id, executors=[_executor_row(_ltc_position())]
+        )
+
+    monkeypatch.setattr("condor.agents.performance.fetch_agent_performance", _fake)
+    result = asyncio.run(ExecutorsProvider().execute(object(), {}, agent_id="a_1"))
+    exposure = result.data["total_exposure"]
+    assert exposure == pytest.approx(200.1)
+
+    journal = JournalManager("a_1", session_dir=tmp_path)
+    journal.record_snapshot(
+        total_pnl=0.0, total_volume=200, open_count=1, position_size=exposure
+    )
+    journal.record_snapshot(
+        total_pnl=-0.70, total_volume=200, open_count=1, position_size=exposure
+    )
+
+    assert journal.get_drawdown_pct() == pytest.approx(0.35, abs=0.01)
+
+
+def _pending_market_order():
+    """A market order still pending at the next tick: no price, no fill."""
+    return {
+        "id": "hype-1",
+        "status": "RUNNING",
+        "config": {
+            "type": "order_executor",
+            "connector_name": "hyperliquid_perpetual",
+            "trading_pair": "HYPE-USD",
+            "side": "BUY",
+            "amount": 2.0,
+        },
+    }
+
+
+def _provider_data(monkeypatch, price):
+    async def _fake(client, agent_id, **_kw):
+        return AgentPerformance(
+            agent_id=agent_id, executors=[_executor_row(_pending_market_order())]
+        )
+
+    async def _price(client, connector_name="", trading_pair="", **_kw):
+        assert (connector_name, trading_pair) == ("hyperliquid_perpetual", "HYPE-USD")
+        return price
+
+    monkeypatch.setattr("condor.agents.performance.fetch_agent_performance", _fake)
+    monkeypatch.setattr("condor.fetchers.market_data.fetch_current_price", _price)
+    return asyncio.run(ExecutorsProvider().execute(object(), {}, agent_id="a_1")).data
+
+
+def test_pending_market_order_keeps_its_exposure_on_the_next_tick(monkeypatch):
+    """$150 cap, a $100 market order still pending: a further $60 is refused."""
+    data = _provider_data(monkeypatch, price=50.0)
+    assert data["total_exposure"] == pytest.approx(100.0)
+    assert data["unpriced_exposure"] == []
+
+    state = RiskState(total_exposure=data["total_exposure"], executor_count=1)
+    allowed, reason = RiskEngine(
+        RiskLimits(max_position_size_quote=150.0)
+    ).check_executor_action(
+        {"tool": "create_order_executor", "input": {"amount": 1.2}}, state, 60.0
+    )
+
+    assert not allowed
+    assert "position limit" in reason
+
+
+def test_pending_order_with_no_price_is_reported_unpriced_not_flat(monkeypatch):
+    data = _provider_data(monkeypatch, price=None)
+
+    assert data["total_exposure"] == 0.0
+    assert data["unpriced_exposure"] == ["hype-1"]