diff --git a/hot-run-stability.py b/hot-run-stability.py
new file mode 100644
index 0000000000..0ff85b32dd
--- /dev/null
+++ b/hot-run-stability.py
@@ -0,0 +1,121 @@
+#!/usr/bin/env python3
+
+"""Report hot-run run-to-run stability of ClickBench results.
+
+The ranking uses the smaller of the 2nd and 3rd runtime per query (best of
+the two hot runs). Both hot runs are already stored in every results file,
+so the run-to-run spread — the timing noise that decides whether a small
+gap between adjacent systems is real — can be measured directly from the
+published data. This script does that:
+
+  per query:   rel_spread = |run2 - run3| / min(run2, run3)
+  per file:    median and p90 of rel_spread, and the share of queries whose
+               hot runs differ by more than a threshold (default 10%)
+
+Usage:
+
+  ./hot-run-stability.py clickhouse/results/20260808/*.json
+  ./hot-run-stability.py --threshold 0.2 duckdb/results/*/*.json
+  ./hot-run-stability.py            # all latest active results
+
+With no arguments, the latest results file per (system, machine) is used,
+mirroring the selection in validate-results.py.
+"""
+
+import argparse
+import json
+import re
+import statistics
+import sys
+from pathlib import Path
+
+DATE_DIR_RE = re.compile(r"^\d{8}$")
+SKIP_SYSTEMS = {"hardware", "versions", "gravitons"}
+
+
+def find_active_result_files(root):
+    latest = {}
+    for path in sorted(root.glob("*/results/*/*.json")):
+        relative_path = path.relative_to(root)
+        if relative_path.parts[0] in SKIP_SYSTEMS:
+            continue
+        system, _, date_dir, filename = relative_path.parts[:4]
+        if not DATE_DIR_RE.match(date_dir):
+            continue
+        key = (system, filename)
+        if key not in latest or date_dir > latest[key].parts[2]:
+            latest[key] = relative_path
+    return [root / p for p in sorted(latest.values())]
+
+
+def hot_run_spreads(result):
+    spreads = []
+    for runs in result:
+        if len(runs) < 3:
+            continue
+        hot = [r for r in (runs[1], runs[2]) if isinstance(r, (int, float)) and r > 0]
+        if len(hot) < 2:
+            continue
+        spreads.append(abs(hot[0] - hot[1]) / min(hot))
+    return spreads
+
+
+def analyze_file(path, threshold):
+    with open(path, encoding="utf-8") as f:
+        data = json.load(f)
+    spreads = hot_run_spreads(data.get("result", []))
+    if not spreads:
+        return None
+    return {
+        "path": str(path),
+        "system": data.get("system", "?"),
+        "machine": data.get("machine", "?"),
+        "queries": len(spreads),
+        "median_spread": statistics.median(spreads),
+        "p90_spread": statistics.quantiles(spreads, n=10)[-1] if len(spreads) >= 2 else spreads[0],
+        "share_over_threshold": sum(s > threshold for s in spreads) / len(spreads),
+    }
+
+
+def main():
+    parser = argparse.ArgumentParser(description=__doc__, formatter_class=argparse.RawDescriptionHelpFormatter)
+    parser.add_argument("files", nargs="*", help="results JSON files (default: latest active results)")
+    parser.add_argument("--threshold", type=float, default=0.1,
+                        help="relative spread above which a query counts as unstable (default 0.1 = 10%%)")
+    args = parser.parse_args()
+
+    root = Path(__file__).parent
+    paths = [Path(f) for f in args.files] if args.files else find_active_result_files(root)
+
+    rows = []
+    for path in paths:
+        try:
+            row = analyze_file(path, args.threshold)
+        except (json.JSONDecodeError, OSError) as e:
+            print(f"skipping {path}: {e}", file=sys.stderr)
+            continue
+        if row:
+            rows.append(row)
+
+    if not rows:
+        print("no analyzable results", file=sys.stderr)
+        return 1
+
+    rows.sort(key=lambda r: r["median_spread"], reverse=True)
+    print(f"{'system':40.40} {'machine':20.20} {'median':>8} {'p90':>8} {'>' + format(args.threshold, '.0%'):>8}")
+    for r in rows:
+        print(
+            f"{r['system']:40.40} {r['machine']:20.20} "
+            f"{r['median_spread']:8.1%} {r['p90_spread']:8.1%} {r['share_over_threshold']:8.0%}"
+        )
+
+    all_spreads = [r["median_spread"] for r in rows]
+    print(
+        f"\n{len(rows)} result files; median of per-file median spreads: "
+        f"{statistics.median(all_spreads):.1%}"
+    )
+    return 0
+
+
+if __name__ == "__main__":
+    sys.exit(main())