diff --git a/README.md b/README.md
index 6c89d92..9d802b9 100644
--- a/README.md
+++ b/README.md
@@ -41,8 +41,9 @@ npx ccusage-fleet daily --hosts localhost,rtzr --group-by none
 # Append a report-bucket token distribution graph
 npx ccusage-fleet daily --hosts localhost,rtzr --graph
 
-# Scale the graph by estimated cost
+# Scale the graph by estimated cost, or by output tokens
 npx ccusage-fleet daily --hosts localhost,rtzr --graph --graph-metric cost
+npx ccusage-fleet daily --hosts localhost,rtzr --graph --graph-metric output
 
 # One consistent date range and timezone on every device
 npx ccusage-fleet daily \
@@ -101,10 +102,28 @@ The former `--by-host` and `--no-by-host` options remain as aliases for `--group
 
 ## Graph
 
-Add `--graph` to append a proportional distribution chart after the table. Bars use total tokens by default; choose `--graph-metric cost` to scale them by estimated cost. Buckets follow the report command: days for `daily`, weeks for `weekly`, and months for `monthly`.
+Add `--graph` to append a proportional distribution chart after the table. Buckets follow the report command: days for `daily`, weeks for `weekly`, and months for `monthly`.
+
+| `--graph-metric` | Bars scale by |
+| --- | --- |
+| `tokens` (default) | Total tokens, which cache reads usually dominate |
+| `output` | Output tokens, the closest proxy for work performed |
+| `cost` | Estimated cost |
 
 Hour buckets will require a future normalized event export from ccusage; ccusage-fleet does not copy raw transcripts to approximate them.
 
+## Reading the numbers
+
+Total tokens counts every token an agent sent or received, and cache reads are typically over 90% of that: each turn replays the whole cached context, billed at a fraction of the input rate. A fleet-wide total spanning months across several machines therefore reaches billions of tokens without anything being double counted. Use `--graph-metric output` or the `Output` column to compare actual work, and `--since` to narrow the `Total` row to a period you care about.
+
+ccusage-fleet prints a `Note:` line under the table whenever the report needs that context:
+
+- how much of the total is cache reads
+- models with no entry in the pricing table, which count as `$0` and make the reported cost a lower bound
+- reasoning tokens that ccusage folds into total tokens without a column of their own
+
+Costs are list-price estimates from ccusage's pricing table, not billed amounts, and they are meaningless on subscription plans. Pricing is fetched online by default so that recently released models are priced; `--offline` uses the snapshot bundled with ccusage instead, which reports `$0` for any model newer than that snapshot.
+
 ## Failure handling
 
 By default, reachable hosts are reported even when another host fails. Add `--strict` to return a non-zero exit status if any host fails. `--timeout` is applied per host.
diff --git a/ccusage-fleet.schema.json b/ccusage-fleet.schema.json
index b0daef8..10a67bf 100644
--- a/ccusage-fleet.schema.json
+++ b/ccusage-fleet.schema.json
@@ -27,7 +27,7 @@
     "timezone": { "type": "string" },
     "groupBy": { "enum": ["agent", "device", "none"] },
     "graph": { "type": "boolean" },
-    "graphMetric": { "enum": ["tokens", "cost"] },
+    "graphMetric": { "enum": ["tokens", "output", "cost"] },
     "byHost": { "type": "boolean" },
     "offline": { "type": "boolean" },
     "noCost": { "type": "boolean" },
diff --git a/package-lock.json b/package-lock.json
index 7e036ef..09794ae 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -9,7 +9,7 @@
       "version": "0.3.0",
       "license": "MIT",
       "dependencies": {
-        "ccusage": "20.0.17"
+        "ccusage": "20.0.19"
       },
       "bin": {
         "ccusage-fleet": "bin/ccusage-fleet.js"
@@ -19,9 +19,9 @@
       }
     },
     "node_modules/@ccusage/ccusage-darwin-arm64": {
-      "version": "20.0.17",
-      "resolved": "https://registry.npmjs.org/@ccusage/ccusage-darwin-arm64/-/ccusage-darwin-arm64-20.0.17.tgz",
-      "integrity": "sha512-rQTuzovMtfbtBAmEMmC8ABzkd66E+jJI+E+WJ/MbEeRTGS/7cL50BpP0jI87FWTbGoY/ovlSV6gcmFyd+EvzXA==",
+      "version": "20.0.19",
+      "resolved": "https://registry.npmjs.org/@ccusage/ccusage-darwin-arm64/-/ccusage-darwin-arm64-20.0.19.tgz",
+      "integrity": "sha512-8b69h4tuMH1KNW+EYjFRJWpbWHXbMUtFu8cOCyFOQsR6lGxq37g0kzEGHSqG+iZEoUTHaabR5CE7ZHLhW9Q64A==",
       "cpu": [
         "arm64"
       ],
@@ -32,9 +32,9 @@
       ]
     },
     "node_modules/@ccusage/ccusage-darwin-x64": {
-      "version": "20.0.17",
-      "resolved": "https://registry.npmjs.org/@ccusage/ccusage-darwin-x64/-/ccusage-darwin-x64-20.0.17.tgz",
-      "integrity": "sha512-FyNVZ1I7LZpkuIXB/pUE+e7OiUeEKKM1h/3Sq0bfq+zZL2SIGmWLTH5RiANcVFIhlEJYE2J2g32z2wy6zYJ9vQ==",
+      "version": "20.0.19",
+      "resolved": "https://registry.npmjs.org/@ccusage/ccusage-darwin-x64/-/ccusage-darwin-x64-20.0.19.tgz",
+      "integrity": "sha512-YTsqIfsPo3qR9OMrwJtnJoq/fil7Jk5mzXV8k0Iejpiq7zysw4FfkjCeHr0UVJG8ihdqtE18o+xIk99p3v+5Ew==",
       "cpu": [
         "x64"
       ],
@@ -45,9 +45,9 @@
       ]
     },
     "node_modules/@ccusage/ccusage-linux-arm64": {
-      "version": "20.0.17",
-      "resolved": "https://registry.npmjs.org/@ccusage/ccusage-linux-arm64/-/ccusage-linux-arm64-20.0.17.tgz",
-      "integrity": "sha512-evdCI+3G6tDoXubPFDQju5KNc+fy2NTjZnUs8nBIwh/oYIdo6LVYlB/Tpvf5lz3WLy8+VPfcc0UuXIjY/X1vkg==",
+      "version": "20.0.19",
+      "resolved": "https://registry.npmjs.org/@ccusage/ccusage-linux-arm64/-/ccusage-linux-arm64-20.0.19.tgz",
+      "integrity": "sha512-4e+7hV3WrEpM7hQPQkh4/zNLTUSqzpd+vSSWl2y659+xQ+JCDLWqE6gzvXLMOAT/LTtcFtlrduIWDZt8VPceqQ==",
       "cpu": [
         "arm64"
       ],
@@ -58,9 +58,9 @@
       ]
     },
     "node_modules/@ccusage/ccusage-linux-x64": {
-      "version": "20.0.17",
-      "resolved": "https://registry.npmjs.org/@ccusage/ccusage-linux-x64/-/ccusage-linux-x64-20.0.17.tgz",
-      "integrity": "sha512-o9CFzPbRT+WEyhKV6Y0GUdxcxdrRnToBY7qclXMe+doKon4gjzZvAzHXR6qao/ZHdfg6cmLkGvBJx5ZcG/8bEw==",
+      "version": "20.0.19",
+      "resolved": "https://registry.npmjs.org/@ccusage/ccusage-linux-x64/-/ccusage-linux-x64-20.0.19.tgz",
+      "integrity": "sha512-VPbB6onrwOGojTKutFzeahttb98ZgmdsiQpOr/BJet1i3QdrmUGXGmJSt591xXrvVOVVgsC7/5wBELdWM9/bKA==",
       "cpu": [
         "x64"
       ],
@@ -71,9 +71,9 @@
       ]
     },
     "node_modules/@ccusage/ccusage-win32-arm64": {
-      "version": "20.0.17",
-      "resolved": "https://registry.npmjs.org/@ccusage/ccusage-win32-arm64/-/ccusage-win32-arm64-20.0.17.tgz",
-      "integrity": "sha512-+cucn4UnhXxd3FQElpAu/k0dgAIN+Sh36dBEfymyuaSHKRvkG7QjbEWkuqsnXwjAy2Z0BIM5uq6gZkrhl0c3aA==",
+      "version": "20.0.19",
+      "resolved": "https://registry.npmjs.org/@ccusage/ccusage-win32-arm64/-/ccusage-win32-arm64-20.0.19.tgz",
+      "integrity": "sha512-oOv4mZkapxzvQeAMI+jqfTOv/zN2x2AYPAD+F4AnYHQQL4n898axhH9uPd2Ls0U5CDlvfh1zDTyNILz8X9M15A==",
       "cpu": [
         "arm64"
       ],
@@ -84,9 +84,9 @@
       ]
     },
     "node_modules/@ccusage/ccusage-win32-x64": {
-      "version": "20.0.17",
-      "resolved": "https://registry.npmjs.org/@ccusage/ccusage-win32-x64/-/ccusage-win32-x64-20.0.17.tgz",
-      "integrity": "sha512-y+rbb5D3lUQwu6kKtRk2yVGZn3Az3+9TipRQAyk9vs+K4hp3TM+ToqciVRAZ3u+tap5VhPSj2bZt4J6gGXg18w==",
+      "version": "20.0.19",
+      "resolved": "https://registry.npmjs.org/@ccusage/ccusage-win32-x64/-/ccusage-win32-x64-20.0.19.tgz",
+      "integrity": "sha512-KtDlTk07uv8cu6TlizB/RptcDiQePE1YSQe6uNNZTUnwVy9zq5R3fvUUFr9/d3FYHwimSGduoHXRS8Ta+Kmkrw==",
       "cpu": [
         "x64"
       ],
@@ -97,9 +97,9 @@
       ]
     },
     "node_modules/ccusage": {
-      "version": "20.0.17",
-      "resolved": "https://registry.npmjs.org/ccusage/-/ccusage-20.0.17.tgz",
-      "integrity": "sha512-MJU4qDs6DOMdam0PXWWFgo0dw/kXAK05rX586DdxIARTzj/zJylWfVlIywgJwW094nNbqwJyGRZvzO2ZsczXDg==",
+      "version": "20.0.19",
+      "resolved": "https://registry.npmjs.org/ccusage/-/ccusage-20.0.19.tgz",
+      "integrity": "sha512-vyNIyctcvTKFbrsU/WJuWiII3CVw8WopU/0NcR+lKmRbh62wm0jccmkWrFCG6j7R8agc8mIBz5+YlmGbXH1RnQ==",
       "license": "MIT",
       "bin": {
         "ccusage": "src/cli.js"
@@ -108,12 +108,12 @@
         "url": "https://github.com/sponsors/ryoppippi"
       },
       "optionalDependencies": {
-        "@ccusage/ccusage-darwin-arm64": "20.0.17",
-        "@ccusage/ccusage-darwin-x64": "20.0.17",
-        "@ccusage/ccusage-linux-arm64": "20.0.17",
-        "@ccusage/ccusage-linux-x64": "20.0.17",
-        "@ccusage/ccusage-win32-arm64": "20.0.17",
-        "@ccusage/ccusage-win32-x64": "20.0.17"
+        "@ccusage/ccusage-darwin-arm64": "20.0.19",
+        "@ccusage/ccusage-darwin-x64": "20.0.19",
+        "@ccusage/ccusage-linux-arm64": "20.0.19",
+        "@ccusage/ccusage-linux-x64": "20.0.19",
+        "@ccusage/ccusage-win32-arm64": "20.0.19",
+        "@ccusage/ccusage-win32-x64": "20.0.19"
       }
     }
   }
diff --git a/package.json b/package.json
index 9af9097..3e645bc 100644
--- a/package.json
+++ b/package.json
@@ -40,6 +40,6 @@
     "node": ">=20"
   },
   "dependencies": {
-    "ccusage": "20.0.17"
+    "ccusage": "20.0.19"
   }
 }
diff --git a/src/args.js b/src/args.js
index 8ead174..cff8aba 100644
--- a/src/args.js
+++ b/src/args.js
@@ -107,9 +107,9 @@ REPORT
   --group-by <mode>            Group detail rows by agent, device, or none (default: agent)
   --by-host / --no-by-host     Compatibility aliases for --group-by device/none
   --graph / --no-graph         Show a report-bucket distribution graph
-  --graph-metric <metric>      Scale graph bars by tokens or cost (default: tokens)
+  --graph-metric <metric>      Scale graph bars by tokens, output, or cost (default: tokens)
   --no-cost                    Hide costs
-  --offline / --online         Use bundled or online ccusage pricing (default: offline)
+  --offline / --online         Use bundled or online ccusage pricing (default: online)
 
 EXECUTION
   --timeout <ms>               Per-host timeout (default: 120000)
diff --git a/src/cli.js b/src/cli.js
index 6d7eea8..82e7d40 100644
--- a/src/cli.js
+++ b/src/cli.js
@@ -8,6 +8,7 @@ import { discoverConfigPath, loadConfig, resolveSettings } from './config.js';
 import { mapConcurrent, runHost } from './runner.js';
 import { renderFleetTable } from './table.js';
 import { renderFleetGraph } from './graph.js';
+import { fleetNotes, renderNotes } from './insights.js';
 
 const here = dirname(fileURLToPath(import.meta.url));
 const packageJson = JSON.parse(readFileSync(resolve(here, '..', 'package.json'), 'utf8'));
@@ -60,10 +61,14 @@ export async function runCli(argv, dependencies = {}) {
   }
 
   const fleet = aggregateFleet(results, settings);
+  const notes = fleetNotes(fleet, settings);
   if (settings.json) {
-    process.stdout.write(`${JSON.stringify(fleet, null, 2)}\n`);
+    process.stdout.write(`${JSON.stringify({ ...fleet, notes }, null, 2)}\n`);
   } else {
     const sections = [renderFleetTable(fleet, settings)];
+    if (notes.length > 0) {
+      sections.push(renderNotes(notes));
+    }
     if (settings.graph) {
       sections.push(renderFleetGraph(fleet, settings));
     }
diff --git a/src/config.js b/src/config.js
index 488665b..c2ed891 100644
--- a/src/config.js
+++ b/src/config.js
@@ -144,8 +144,8 @@ export function resolveSettings(parsedOptions, config, defaults) {
     throw new Error(`group-by must be agent, device, or none (received '${groupBy}')`);
   }
   const graphMetric = parsedOptions.graphMetric ?? config.graphMetric ?? 'tokens';
-  if (!['tokens', 'cost'].includes(graphMetric)) {
-    throw new Error(`graph-metric must be tokens or cost (received '${graphMetric}')`);
+  if (!['tokens', 'output', 'cost'].includes(graphMetric)) {
+    throw new Error(`graph-metric must be tokens, output, or cost (received '${graphMetric}')`);
   }
   const noCost = parsedOptions.noCost ?? config.noCost ?? false;
   if (graphMetric === 'cost' && noCost) {
@@ -163,7 +163,7 @@ export function resolveSettings(parsedOptions, config, defaults) {
     hosts,
     json: parsedOptions.json ?? false,
     noCost,
-    offline: parsedOptions.offline ?? config.offline ?? true,
+    offline: parsedOptions.offline ?? config.offline ?? false,
     since: parsedOptions.since,
     sshConnectTimeoutSeconds: integer(
       parsedOptions.sshConnectTimeoutSeconds ?? config.sshConnectTimeoutSeconds,
diff --git a/src/format.js b/src/format.js
new file mode 100644
index 0000000..d825997
--- /dev/null
+++ b/src/format.js
@@ -0,0 +1,12 @@
+export function number(value) {
+  return typeof value === 'number' && Number.isFinite(value) ? value : 0;
+}
+
+export function compact(value, prefix = '') {
+  const numeric = number(value);
+  const absolute = Math.abs(numeric);
+  if (absolute >= 1_000_000_000) return `${prefix}${(numeric / 1_000_000_000).toFixed(1)}B`;
+  if (absolute >= 1_000_000) return `${prefix}${(numeric / 1_000_000).toFixed(1)}M`;
+  if (absolute >= 1_000) return `${prefix}${(numeric / 1_000).toFixed(1)}K`;
+  return `${prefix}${Math.round(numeric)}`;
+}
diff --git a/src/graph.js b/src/graph.js
index adc9ce9..86a798a 100644
--- a/src/graph.js
+++ b/src/graph.js
@@ -1,15 +1,10 @@
-function number(value) {
-  return typeof value === 'number' && Number.isFinite(value) ? value : 0;
-}
+import { compact, number } from './format.js';
 
-function compact(value, prefix = '') {
-  const numeric = number(value);
-  const absolute = Math.abs(numeric);
-  if (absolute >= 1_000_000_000) return `${prefix}${(numeric / 1_000_000_000).toFixed(1)}B`;
-  if (absolute >= 1_000_000) return `${prefix}${(numeric / 1_000_000).toFixed(1)}M`;
-  if (absolute >= 1_000) return `${prefix}${(numeric / 1_000).toFixed(1)}K`;
-  return `${prefix}${Math.round(numeric)}`;
-}
+const METRICS = new Map([
+  ['cost', { key: 'totalCost', prefix: '$', title: 'Cost' }],
+  ['output', { key: 'outputTokens', prefix: '', title: 'Output tokens' }],
+  ['tokens', { key: 'totalTokens', prefix: '', title: 'Total tokens' }],
+]);
 
 function bar(value, peak, width) {
   if (value <= 0 || peak <= 0) return ' '.repeat(width);
@@ -38,25 +33,24 @@ function border(left, middle, right, widths, fill = '─') {
 export function renderFleetGraph(fleet, settings, terminalWidth = process.stdout.columns ?? 120) {
   const rows = fleet[fleet.command];
   const bucketName = fleet.command === 'weekly' ? 'week' : fleet.command === 'monthly' ? 'month' : 'day';
-  const metricKey = settings.graphMetric === 'cost' ? 'totalCost' : 'totalTokens';
-  const values = rows.map((row) => number(row[metricKey]));
+  const metric = METRICS.get(settings.graphMetric) ?? METRICS.get('tokens');
+  const values = rows.map((row) => number(row[metric.key]));
   const total = values.reduce((sum, value) => sum + value, 0);
   const peak = Math.max(0, ...values);
-  const metricTitle = settings.graphMetric === 'cost' ? 'Cost' : 'Total tokens';
-  const metricValue = (value) => settings.graphMetric === 'cost' ? compact(value, '$') : compact(value);
-  const title = `${metricTitle} over time · ${bucketName} buckets · total ${metricValue(total)} · peak ${metricValue(peak)}`;
+  const metricValue = (value) => compact(value, metric.prefix);
+  const title = `${metric.title} over time · ${bucketName} buckets · total ${metricValue(total)} · peak ${metricValue(peak)}`;
 
   const widths = [10, 10, 10, Math.max(16, Math.min(60, terminalWidth - 46))];
   const output = [title, border('╭', '┬', '╮', widths)];
-  const headers = ['BUCKET', 'TOKENS', 'COST', 'DISTRIBUTION'];
+  const headers = ['BUCKET', settings.graphMetric === 'output' ? 'OUTPUT' : 'TOKENS', 'COST', 'DISTRIBUTION'];
   output.push(`│ ${headers.map((header, index) => pad(header, widths[index])).join(' ┆ ')} │`);
   output.push(border('╞', '╪', '╡', widths, '═'));
   for (const row of rows) {
     const cells = [
       pad(row.period, widths[0]),
-      pad(compact(row.totalTokens), widths[1], true),
+      pad(compact(settings.graphMetric === 'output' ? row.outputTokens : row.totalTokens), widths[1], true),
       pad(settings.noCost ? '—' : compact(row.totalCost, '$'), widths[2], true),
-      bar(number(row[metricKey]), peak, widths[3]),
+      bar(number(row[metric.key]), peak, widths[3]),
     ];
     output.push(`│ ${cells.join(' ┆ ')} │`);
   }
diff --git a/src/insights.js b/src/insights.js
new file mode 100644
index 0000000..4b4bfee
--- /dev/null
+++ b/src/insights.js
@@ -0,0 +1,72 @@
+import { compact, number } from './format.js';
+
+const COMPONENT_FIELDS = ['inputTokens', 'outputTokens', 'cacheCreationTokens', 'cacheReadTokens'];
+const LISTED_MODELS = 3;
+const CACHE_READ_NOTE_THRESHOLD = 0.5;
+
+function componentSum(usage) {
+  return COMPONENT_FIELDS.reduce((sum, field) => sum + number(usage[field]), 0);
+}
+
+// ccusage reports one cost per model, so a model priced at exactly zero while it
+// still moved tokens means the pricing table had no entry for it.
+export function unpricedModels(totals) {
+  return (totals?.modelBreakdowns ?? [])
+    .map((item) => ({ modelName: item.modelName ?? 'unknown', tokens: componentSum(item), cost: number(item.cost) }))
+    .filter((item) => item.tokens > 0 && item.cost === 0)
+    .sort((a, b) => b.tokens - a.tokens);
+}
+
+// ccusage folds agent-specific reasoning tokens into totalTokens without giving
+// them a column of their own, so the visible columns can add up to slightly less.
+export function reasoningDrift(totals) {
+  return number(totals?.totalTokens) - componentSum(totals);
+}
+
+export function fleetNotes(fleet, settings = {}) {
+  const totals = fleet?.totals ?? {};
+  const totalTokens = number(totals.totalTokens);
+  const notes = [];
+  if (totalTokens <= 0) {
+    return notes;
+  }
+
+  const cacheRead = number(totals.cacheReadTokens);
+  if (cacheRead / totalTokens > CACHE_READ_NOTE_THRESHOLD) {
+    notes.push(
+      `Cache reads are ${((cacheRead / totalTokens) * 100).toFixed(1)}% of Total Tokens `
+      + `(${compact(cacheRead)} of ${compact(totalTokens)}); output is ${compact(totals.outputTokens)}. `
+      + 'Total Tokens tracks context replay, not work performed.',
+    );
+  }
+
+  if (!settings.noCost) {
+    const unpriced = unpricedModels(totals);
+    if (unpriced.length > 0) {
+      const unpricedTokens = unpriced.reduce((sum, item) => sum + item.tokens, 0);
+      const listed = unpriced.slice(0, LISTED_MODELS).map((item) => `${item.modelName} ${compact(item.tokens)}`);
+      const remaining = unpriced.length - listed.length;
+      const suffix = remaining > 0 ? `, +${remaining} more` : '';
+      notes.push(
+        `${unpriced.length} model(s) have no pricing data and count as $0 `
+        + `(${((unpricedTokens / totalTokens) * 100).toFixed(1)}% of tokens): ${listed.join(', ')}${suffix}. `
+        + 'Reported cost is a lower bound.'
+        + (settings.offline ? ' Re-run with --online to fetch current pricing.' : ''),
+      );
+    }
+  }
+
+  const drift = reasoningDrift(totals);
+  if (drift !== 0) {
+    notes.push(
+      `${compact(drift)} tokens (${((Math.abs(drift) / totalTokens) * 100).toFixed(4)}%) are reasoning tokens `
+      + 'counted in Total Tokens but not in the Input/Output/Cache columns.',
+    );
+  }
+
+  return notes;
+}
+
+export function renderNotes(notes) {
+  return notes.map((note) => `Note: ${note}`).join('\n');
+}
diff --git a/test/args-config.test.js b/test/args-config.test.js
index 79ad223..d9fec3f 100644
--- a/test/args-config.test.js
+++ b/test/args-config.test.js
@@ -56,10 +56,25 @@ test('configures token and cost graphs', () => {
 
   const cost = resolveSettings(parseArgs(['--graph', '--graph-metric', 'cost']).options, {}, defaults);
   assert.equal(cost.graphMetric, 'cost');
+
+  const outputTokens = resolveSettings(parseArgs(['--graph', '--graph-metric', 'output']).options, {}, defaults);
+  assert.equal(outputTokens.graphMetric, 'output');
+
   assert.throws(
     () => resolveSettings(parseArgs(['--graph-metric', 'cost', '--no-cost']).options, {}, defaults),
     /cannot be combined with --no-cost/,
   );
+  assert.throws(
+    () => resolveSettings(parseArgs(['--graph-metric', 'reads']).options, {}, defaults),
+    /graph-metric must be tokens, output, or cost/,
+  );
+});
+
+test('fetches pricing online by default so new models are not counted as $0', () => {
+  assert.equal(resolveSettings(parseArgs([]).options, {}, defaults).offline, false);
+  assert.equal(resolveSettings(parseArgs(['--offline']).options, {}, defaults).offline, true);
+  assert.equal(resolveSettings(parseArgs([]).options, { offline: true }, defaults).offline, true);
+  assert.equal(resolveSettings(parseArgs(['--online']).options, { offline: true }, defaults).offline, false);
 });
 
 test('rejects SSH option and shell injection', () => {
diff --git a/test/graph.test.js b/test/graph.test.js
index ce0f2ef..352c47f 100644
--- a/test/graph.test.js
+++ b/test/graph.test.js
@@ -6,8 +6,8 @@ import { renderFleetGraph } from '../src/graph.js';
 const fleet = {
   command: 'daily',
   daily: [
-    { period: '2026-07-14', totalCost: 25, totalTokens: 500 },
-    { period: '2026-07-15', totalCost: 50, totalTokens: 1000 },
+    { outputTokens: 20, period: '2026-07-14', totalCost: 25, totalTokens: 500 },
+    { outputTokens: 10, period: '2026-07-15', totalCost: 50, totalTokens: 1000 },
   ],
 };
 
@@ -26,6 +26,16 @@ test('supports cost-scaled graphs', () => {
   assert.match(output, /total \$75/);
 });
 
+test('supports output-scaled graphs so cache reads cannot dominate', () => {
+  const output = renderFleetGraph(fleet, { graphMetric: 'output', noCost: false }, 100);
+  assert.match(output, /Output tokens over time · day buckets · total 30 · peak 20/);
+  assert.match(output, /OUTPUT/);
+  // 2026-07-14 has fewer total tokens but more output, so it must own the peak bar.
+  const blocks = (line) => (line.match(/█/g) ?? []).length;
+  const [first, second] = output.split('\n').filter((line) => line.includes('2026-07-1'));
+  assert.ok(blocks(first) > blocks(second), `${blocks(first)} should exceed ${blocks(second)}`);
+});
+
 test('uses the active report bucket label', () => {
   for (const [command, bucket] of [['weekly', 'week'], ['monthly', 'month']]) {
     const report = { command, [command]: fleet.daily };
diff --git a/test/insights.test.js b/test/insights.test.js
new file mode 100644
index 0000000..cb8c06e
--- /dev/null
+++ b/test/insights.test.js
@@ -0,0 +1,57 @@
+import assert from 'node:assert/strict';
+import test from 'node:test';
+
+import { fleetNotes, reasoningDrift, unpricedModels } from '../src/insights.js';
+
+function fleetWith(totals) {
+  return { command: 'daily', daily: [], totals };
+}
+
+const totals = {
+  cacheCreationTokens: 1_000,
+  cacheReadTokens: 960_000,
+  inputTokens: 20_000,
+  modelBreakdowns: [
+    { cacheCreationTokens: 500, cacheReadTokens: 460_000, cost: 12.5, inputTokens: 10_000, modelName: 'priced-model', outputTokens: 9_000 },
+    { cacheCreationTokens: 500, cacheReadTokens: 500_000, cost: 0, inputTokens: 10_000, modelName: 'new-model', outputTokens: 10_000 },
+  ],
+  outputTokens: 19_000,
+  totalCost: 12.5,
+  totalTokens: 1_000_000,
+};
+
+test('flags models that moved tokens but carry no price', () => {
+  const unpriced = unpricedModels(totals);
+  assert.equal(unpriced.length, 1);
+  assert.equal(unpriced[0].modelName, 'new-model');
+  assert.equal(unpriced[0].tokens, 520_500);
+});
+
+test('reports the gap between total tokens and the visible columns', () => {
+  assert.equal(reasoningDrift(totals), 0);
+  assert.equal(reasoningDrift({ ...totals, totalTokens: 1_002_500 }), 2_500);
+});
+
+test('explains cache-read share, unpriced models, and reasoning tokens', () => {
+  const notes = fleetNotes(fleetWith({ ...totals, totalTokens: 1_002_500 }), { offline: true });
+  assert.equal(notes.length, 3);
+  assert.match(notes[0], /Cache reads are 95\.8% of Total Tokens/);
+  assert.match(notes[1], /1 model\(s\) have no pricing data and count as \$0 \(51\.9% of tokens\): new-model 520\.5K/);
+  assert.match(notes[1], /Re-run with --online/);
+  assert.match(notes[2], /2\.5K tokens .* are reasoning tokens/);
+});
+
+test('omits the --online hint when pricing is already fetched online', () => {
+  const notes = fleetNotes(fleetWith(totals), { offline: false });
+  assert.ok(notes.some((note) => note.includes('no pricing data')));
+  assert.ok(notes.every((note) => !note.includes('--online')));
+});
+
+test('suppresses pricing notes when costs are hidden', () => {
+  const notes = fleetNotes(fleetWith(totals), { noCost: true });
+  assert.ok(notes.every((note) => !note.includes('no pricing data')));
+});
+
+test('returns no notes for an empty fleet', () => {
+  assert.deepEqual(fleetNotes(fleetWith({ totalTokens: 0 }), {}), []);
+});