diff --git a/artifacts/SHA256SUMS b/artifacts/SHA256SUMS
index c277ce0b..5ef08450 100644
--- a/artifacts/SHA256SUMS
+++ b/artifacts/SHA256SUMS
@@ -12,6 +12,6 @@ c10412dd76a65a1d587b7ed226367d1a6f2bec238c733c97ee67eb8870c868e8  ./armeabi-v7a/
 1871eae093432d277da4bc751bf5f3269dfcf11f9168260b0c3caadb0dedb19d  ./dex/oculusos-stubs.dex
 1aa733117cf57ccff7cf23f0425dbfd73b0332a3ef1c905ceeca0ccd0449c4e0  ./linux-arm64/XR_APILAYER_FRAMEPORT_timefix.json
 28c2430a02bbd8902c5bfb9562c6fd0e318654f9e05c095bfeb94b0450ab1b07  ./linux-arm64/libxr_frameport_timefix.so
-33a4060010a9d2c5d1515fa2d5294beb664edeaef7d37f4d325ab6e6ce6a5f0e  ./linux-arm64-bin/fp_venc
+a4a6d9f41c290a421842294a39562e1e6f0ca271bb47b72f615c808560338f6a  ./linux-arm64-bin/fp_venc
 c2c70f4af1a5c3e6089dff1130161dd417f8044f99ec639eeecf1083930aab16  ./win-x64/fp_oculushmd.exe
 60ebc5fea05b8945082e2ca8b9f2eb74616012a26eb50133af273dff0fcddc42  ./win-x64/fp_vrsettings.exe
diff --git a/artifacts/linux-arm64-bin/fp_venc b/artifacts/linux-arm64-bin/fp_venc
index 7402062c..696ccfd0 100644
Binary files a/artifacts/linux-arm64-bin/fp_venc and b/artifacts/linux-arm64-bin/fp_venc differ
diff --git a/docs/FRAME_RUNTIME.md b/docs/FRAME_RUNTIME.md
index 818d6692..63aa9ce5 100644
--- a/docs/FRAME_RUNTIME.md
+++ b/docs/FRAME_RUNTIME.md
@@ -160,6 +160,20 @@
   - The panel's current refresh rate can be read without privileges through DRM: `/dev/dri/card0` is mode 0666, and
     GETCRTC reports e.g. `2*2160x2160_96` (clock 1402720 kHz / 4448 × 3285 = 96 Hz) even while the headset sleeps.
     The panel offers 72/80/90/96/108/120/144 Hz.
+  - `/dev/video99` (v4l2loopback) has `max_buffers=2`: a reader asking for more gets 2.
+  - Mid-stream keyframe requests (FORCE_KEY_FRAME) take effect on the next frame, and the GOP restarts from there.
+  - Measured 2026-10-07 with the headset asleep (still picture):
+    - `fp_venc` alone at 32/36 fps: 1% of a core at 1080p, 2.5% at 720p.
+    - Live view end to end: `fp_venc` 2.6% + ffmpeg 8.4% (AAC encoding + muxing).
+  - Conversion cost per new picture (self-test, NEON): 1.5 ms at 1080p→1080p. Box-scaling to 720p takes 5.6 ms
+    (~11 ms at idle clocks), so with live content 1080p costs the CPU *less* than the scaled qualities.
+  - ffmpeg with raw H.264 on a pipe:
+    - `-framerate` is ignored.
+    - `-fflags nobuffer` loses the first seconds of tiny frames.
+    - Numbering frames from 0 (`setts`) next to pulse's wall-clock audio holds all output ~7 s.
+    - What works: `-probesize 32 -analyzeduration 0 -use_wallclock_as_timestamps 1`, plus `frag_keyframe` so that a
+      requested keyframe starts a fragment.
+  - The default sink is SUSPENDED while nothing plays; its monitor still delivers (silent) audio.
 
 ## Text input
 
diff --git a/native/venc/fp_venc.c b/native/venc/fp_venc.c
index 0eb852c4..a6f606e4 100644
--- a/native/venc/fp_venc.c
+++ b/native/venc/fp_venc.c
@@ -350,6 +350,8 @@ struct enc {
     uint8_t *out_mem[ENC_BUFS], *cap_mem[ENC_BUFS];
     uint32_t out_len[ENC_BUFS], cap_len[ENC_BUFS];
     int out_free[ENC_BUFS];
+    long out_pic[ENC_BUFS];   /* which picture each OUTPUT buffer holds (0 = black, -1 = none): a repeat that finds
+                               * its picture already in the buffer skips the conversion (standby, still scenes) */
 };
 
 static int src_open(struct src *s, const char *path)
@@ -375,8 +377,10 @@ static int src_open(struct src *s, const char *path)
     memset(&rb, 0, sizeof rb);
     rb.count = SRC_BUFS, rb.type = V4L2_BUF_TYPE_VIDEO_CAPTURE, rb.memory = V4L2_MEMORY_MMAP;
     r = sys_ioctl(s->fd, VIDIOC_REQBUFS, &rb);
-    if (r < 0 || rb.count < SRC_BUFS) return fail(3, "source VIDIOC_REQBUFS", r < 0 ? r : -ENOMEM);
-    for (int i = 0; i < SRC_BUFS; i++) {
+    /* The driver may grant fewer (the Frame's v4l2loopback has max_buffers=2); two are enough: one held, one filling. */
+    if (r < 0 || rb.count < 2) return fail(3, "source VIDIOC_REQBUFS", r < 0 ? r : -ENOMEM);
+    if (rb.count > SRC_BUFS) rb.count = SRC_BUFS;
+    for (int i = 0; i < (int)rb.count; i++) {
         struct v4l2_buffer b;
         memset(&b, 0, sizeof b);
         b.index = (uint32_t)i, b.type = V4L2_BUF_TYPE_VIDEO_CAPTURE, b.memory = V4L2_MEMORY_MMAP;
@@ -710,6 +714,8 @@ int main(int argc, char **argv, char **envp)
     const int64_t t0 = now_ns(), period = 1000000000 / fps;
     int64_t next_stats = t0 + 10000000000LL, quiet_src = 0, quiet_enc = 0;
     long slot = 0;                 /* next slot to submit; due at t0 + slot * 1e9 / fps */
+    long pic = 0;                  /* current picture: 0 = black (no source frame yet), +1 per new source frame */
+    for (int i = 0; i < ENC_BUFS; i++) e.out_pic[i] = -1;
     int want_key = 0, stdin_open = 1, sent_any = 0, rc = 0;
 
     for (;;) {
@@ -726,12 +732,16 @@ int main(int argc, char **argv, char **envp)
             while (i < ENC_BUFS && !e.out_free[i]) i++;
             if (i == ENC_BUFS) break;
             uint8_t *m = e.out_mem[i];
-            if (s.held >= 0) {
-                fp_convert(s.mem[s.held], s.w, s.h, s.stride, m, e.stride, m + (size_t)e.stride * e.hpad, e.stride,
-                           ow, oh, scratch);
-            } else {   /* no source frame yet: black */
-                memset(m, 16, (size_t)e.stride * oh);
-                memset(m + (size_t)e.stride * e.hpad, 128, (size_t)e.stride * oh / 2);
+            if (s.held >= 0 && s.fresh) pic++;
+            if (e.out_pic[i] != pic) {
+                if (s.held >= 0) {
+                    fp_convert(s.mem[s.held], s.w, s.h, s.stride, m, e.stride, m + (size_t)e.stride * e.hpad,
+                               e.stride, ow, oh, scratch);
+                } else {   /* no source frame yet: black */
+                    memset(m, 16, (size_t)e.stride * oh);
+                    memset(m + (size_t)e.stride * e.hpad, 128, (size_t)e.stride * oh / 2);
+                }
+                e.out_pic[i] = pic;
             }
             if (!s.fresh && sent_any) st.repeats++;
             s.fresh = 0;
diff --git a/src/frameport/install/livestream.py b/src/frameport/install/livestream.py
index 10c51444..d64970e2 100644
--- a/src/frameport/install/livestream.py
+++ b/src/frameport/install/livestream.py
@@ -428,11 +428,15 @@ info=
 hwfps=$(printf %s "$info" | sed -n 's/.*"fps":\\([0-9][0-9]*\\).*/\\1/p')
 if [ -n "$hwfps" ]; then
   echo "{INFO_PREFIX}encoder=hardware fps=$hwfps" >&2
-  # fp_venc reads the SSH channel (stdin): "k" = keyframe, EOF = stop; ffmpeg then ends with it (-shortest)
+  # fp_venc reads the SSH channel (stdin): "k" = keyframe, EOF = stop; ffmpeg then ends with it (-shortest).
+  # Raw H.264 has no timestamps: frames are stamped on arrival (wall clock, like pulse's audio; fp_venc sends them on
+  # its even fps grid, so arrival = capture + a constant). Measured on the Frame (2026-10-07): -framerate is ignored;
+  # numbering frames from 0 (setts) held all output ~7 s when sound was on (interleaving against pulse's wall clock);
+  # -fflags nobuffer lost the first seconds of a still picture's tiny frames; a big probesize waits seconds for one.
+  # frag_keyframe: a requested keyframe starts its own fragment, where a joining viewer can begin.
   "$venc" {venc_args} --fps "$hwfps" | nice -n 10 ffmpeg -nostdin -hide_banner -loglevel error \\
-    -probesize 262144 -analyzeduration 500000 -fflags +genpts+nobuffer -f h264 -framerate "$hwfps" -i pipe:0 \\
-    "${{audio[@]}}" -c:v copy -shortest \\
-    -f mp4 -movflags empty_moov+default_base_moof -frag_duration 100000 -
+    -probesize 32 -analyzeduration 0 -use_wallclock_as_timestamps 1 -f h264 -i pipe:0 "${{audio[@]}}" \\
+    -c:v copy -shortest -f mp4 -movflags empty_moov+default_base_moof+frag_keyframe -frag_duration 100000 -
   exit $?
 fi
 echo "{INFO_PREFIX}encoder=software fps={fps}" >&2
diff --git a/tests/test_livestream.py b/tests/test_livestream.py
index 2a72aefa..6a0de6b0 100644
--- a/tests/test_livestream.py
+++ b/tests/test_livestream.py
@@ -243,7 +243,9 @@ def test_relay_with_audio():
 def test_source_command_captures_default_output():
     cmd = L.source_command()
     assert "pactl get-default-sink" in cmd and "$sink.monitor" in cmd and "-c:a aac" in cmd
-    assert "-ts mono2abs" in cmd and "-use_wallclock_as_timestamps" not in cmd  # both on pulse's wall clock
+    audio = cmd[cmd.index("audio=(-thread_queue_size"):cmd.index("fi\n", cmd.index("audio=(-thread_queue_size"))]
+    assert "-ts mono2abs" in cmd and "-use_wallclock_as_timestamps" not in audio  # both on pulse's wall clock
+    # (the hardware path stamps its raw H.264 input with the wall clock; the pulse input never gets that flag)
     assert "aresample=async=1" in cmd
 
 
@@ -291,7 +293,9 @@ def test_source_command_hardware_path(tmp_path):
     assert p.wait(timeout=5) == 0
     assert b"live: encoder=hardware fps=32" in p.stderr.read()
     args = (tmp_path / "ffmpeg.args").read_text()
-    assert "-f h264 -framerate 32 -i pipe:0" in args and "-c:v copy" in args and "libx264" not in args
+    assert "-f h264 -i pipe:0" in args and "-c:v copy" in args and "libx264" not in args
+    assert "-use_wallclock_as_timestamps 1" in args and "nobuffer" not in args  # same clock as pulse's audio
+    assert "+frag_keyframe" in args  # a requested keyframe starts a fragment (where a new viewer begins)
     venc_calls = (tmp_path / "venc.args").read_text().splitlines()
     assert venc_calls[0].startswith("--probe ") and "--height 720" in venc_calls[0] and "--bitrate 3000000" in \
         venc_calls[0]