diff --git a/cameleer-server-app/src/main/java/com/cameleer/server/app/alerting/config/AlertingProperties.java b/cameleer-server-app/src/main/java/com/cameleer/server/app/alerting/config/AlertingProperties.java
index 66c74803..b7020713 100644
--- a/cameleer-server-app/src/main/java/com/cameleer/server/app/alerting/config/AlertingProperties.java
+++ b/cameleer-server-app/src/main/java/com/cameleer/server/app/alerting/config/AlertingProperties.java
@@ -16,7 +16,8 @@ public record AlertingProperties(
         Integer eventRetentionDays,
         Integer notificationRetentionDays,
         Integer webhookTimeoutMs,
-        Integer webhookMaxAttempts) {
+        Integer webhookMaxAttempts,
+        Integer perExchangeDeployBacklogCapSeconds) {
 
     public int effectiveEvaluatorTickIntervalMs() {
         int raw = evaluatorTickIntervalMs == null ? 5000 : evaluatorTickIntervalMs;
@@ -70,4 +71,9 @@ public record AlertingProperties(
     public int cbCooldownSeconds() {
         return circuitBreakerCooldownSeconds == null ? 60 : circuitBreakerCooldownSeconds;
     }
+
+    public int effectivePerExchangeDeployBacklogCapSeconds() {
+        // Default 24 h. Zero or negative = disabled (no clamp — first-run uses rule.createdAt as today).
+        return perExchangeDeployBacklogCapSeconds == null ? 86_400 : perExchangeDeployBacklogCapSeconds;
+    }
 }
diff --git a/cameleer-server-app/src/main/java/com/cameleer/server/app/alerting/eval/ExchangeMatchEvaluator.java b/cameleer-server-app/src/main/java/com/cameleer/server/app/alerting/eval/ExchangeMatchEvaluator.java
index e05da07e..d3a635aa 100644
--- a/cameleer-server-app/src/main/java/com/cameleer/server/app/alerting/eval/ExchangeMatchEvaluator.java
+++ b/cameleer-server-app/src/main/java/com/cameleer/server/app/alerting/eval/ExchangeMatchEvaluator.java
@@ -1,5 +1,6 @@
 package com.cameleer.server.app.alerting.eval;
 
+import com.cameleer.server.app.alerting.config.AlertingProperties;
 import com.cameleer.server.app.search.ClickHouseSearchIndex;
 import com.cameleer.server.core.alerting.AlertMatchSpec;
 import com.cameleer.server.core.alerting.AlertRule;
@@ -24,10 +25,14 @@ public class ExchangeMatchEvaluator implements ConditionEvaluator<ExchangeMatchC
 
     private final ClickHouseSearchIndex searchIndex;
     private final EnvironmentRepository envRepo;
+    private final AlertingProperties alertingProperties;
 
-    public ExchangeMatchEvaluator(ClickHouseSearchIndex searchIndex, EnvironmentRepository envRepo) {
-        this.searchIndex = searchIndex;
-        this.envRepo     = envRepo;
+    public ExchangeMatchEvaluator(ClickHouseSearchIndex searchIndex,
+                                  EnvironmentRepository envRepo,
+                                  AlertingProperties alertingProperties) {
+        this.searchIndex        = searchIndex;
+        this.envRepo            = envRepo;
+        this.alertingProperties = alertingProperties;
     }
 
     @Override
@@ -93,16 +98,18 @@ public class ExchangeMatchEvaluator implements ConditionEvaluator<ExchangeMatchC
         if (raw instanceof String s && !s.isBlank()) {
             int pipe = s.indexOf('|');
             if (pipe < 0) {
-                // Malformed — treat as first-run
-                cursorTs = rule.createdAt();
+                // Malformed — treat as first-run (with deploy-backlog-cap clamp).
+                cursorTs = firstRunCursorTs(rule, ctx);
                 cursorId = "";
             } else {
                 cursorTs = Instant.parse(s.substring(0, pipe));
                 cursorId = s.substring(pipe + 1);
             }
         } else {
-            // First run — bounded by rule.createdAt, empty executionId so any real id sorts after it
-            cursorTs = rule.createdAt();
+            // First run — bounded by rule.createdAt, empty executionId so any real id sorts after it.
+            // Clamp to deploy-backlog-cap to avoid backlog flooding for long-lived rules on first
+            // post-deploy tick. Normal-advance path (valid cursor above) is intentionally unaffected.
+            cursorTs = firstRunCursorTs(rule, ctx);
             cursorId = "";
         }
 
@@ -156,4 +163,25 @@ public class ExchangeMatchEvaluator implements ConditionEvaluator<ExchangeMatchC
         nextEvalState.put("lastExchangeCursor", nextCursorSerialized);
         return new EvalResult.Batch(firings, nextEvalState);
     }
+
+    /**
+     * First-run cursor timestamp: {@code rule.createdAt()}, clamped to
+     * {@code now - perExchangeDeployBacklogCapSeconds} so a long-lived PER_EXCHANGE rule
+     * doesn't scan from its creation date forward on first post-deploy tick.
+     * <p>
+     * Cap ≤ 0 disables the clamp (first-run falls back to {@code rule.createdAt()} verbatim).
+     * Applied only on first-run / malformed-cursor paths — the normal-advance path is
+     * intentionally unaffected so legitimate missed ticks are not silently skipped.
+     */
+    private Instant firstRunCursorTs(AlertRule rule, EvalContext ctx) {
+        Instant cursorTs = rule.createdAt();
+        int capSeconds = alertingProperties.effectivePerExchangeDeployBacklogCapSeconds();
+        if (capSeconds > 0) {
+            Instant capFloor = ctx.now().minusSeconds(capSeconds);
+            if (cursorTs == null || cursorTs.isBefore(capFloor)) {
+                cursorTs = capFloor;
+            }
+        }
+        return cursorTs;
+    }
 }
diff --git a/cameleer-server-app/src/test/java/com/cameleer/server/app/alerting/eval/ExchangeMatchEvaluatorTest.java b/cameleer-server-app/src/test/java/com/cameleer/server/app/alerting/eval/ExchangeMatchEvaluatorTest.java
index 33bb64f4..b923e725 100644
--- a/cameleer-server-app/src/test/java/com/cameleer/server/app/alerting/eval/ExchangeMatchEvaluatorTest.java
+++ b/cameleer-server-app/src/test/java/com/cameleer/server/app/alerting/eval/ExchangeMatchEvaluatorTest.java
@@ -1,5 +1,6 @@
 package com.cameleer.server.app.alerting.eval;
 
+import com.cameleer.server.app.alerting.config.AlertingProperties;
 import com.cameleer.server.app.search.ClickHouseSearchIndex;
 import com.cameleer.server.core.alerting.*;
 import com.cameleer.server.core.runtime.Environment;
@@ -36,7 +37,9 @@ class ExchangeMatchEvaluatorTest {
     void setUp() {
         searchIndex = mock(ClickHouseSearchIndex.class);
         envRepo     = mock(EnvironmentRepository.class);
-        eval = new ExchangeMatchEvaluator(searchIndex, envRepo);
+        AlertingProperties props = new AlertingProperties(
+                null, null, null, null, null, null, null, null, null, null, null, null, null, null);
+        eval = new ExchangeMatchEvaluator(searchIndex, envRepo, props);
 
         var env = new Environment(ENV_ID, "prod", "Production", false, true, null, null, null);
         when(envRepo.findById(ENV_ID)).thenReturn(Optional.of(env));
@@ -264,6 +267,39 @@ class ExchangeMatchEvaluatorTest {
         assertThat(((EvalResult.Batch) r).firings()).hasSize(1);
     }
 
+    @Test
+    void firstRun_clampsCursorToDeployBacklogCap_whenRuleCreatedLongAgo() {
+        // Rule created 7 days ago, cap default is 24h; expect timeFrom to be now - 24h, not rule.createdAt.
+        Instant now = Instant.parse("2026-04-22T12:00:00Z");
+        Instant createdLongAgo = now.minus(Duration.ofDays(7));
+        Instant expectedClampFloor = now.minusSeconds(86_400); // 24h
+
+        ArgumentCaptor<SearchRequest> cap = ArgumentCaptor.forClass(SearchRequest.class);
+        when(searchIndex.search(cap.capture())).thenReturn(new SearchResult<>(List.of(), 0L, 0, 50));
+
+        ExchangeMatchCondition condition = perExchangeCondition();
+        AlertRule rule = ruleWith(condition, Map.of(), createdLongAgo);
+        eval.evaluate(condition, rule, new EvalContext("default", now, new TickCache()));
+
+        SearchRequest req = cap.getValue();
+        assertThat(req.timeFrom()).isEqualTo(expectedClampFloor);
+    }
+
+    @Test
+    void firstRun_usesCreatedAt_whenWithinDeployBacklogCap() {
+        Instant now = Instant.parse("2026-04-22T12:00:00Z");
+        Instant createdRecent = now.minus(Duration.ofHours(1)); // 1h < 24h cap
+
+        ArgumentCaptor<SearchRequest> cap = ArgumentCaptor.forClass(SearchRequest.class);
+        when(searchIndex.search(cap.capture())).thenReturn(new SearchResult<>(List.of(), 0L, 0, 50));
+
+        ExchangeMatchCondition condition = perExchangeCondition();
+        AlertRule rule = ruleWith(condition, Map.of(), createdRecent);
+        eval.evaluate(condition, rule, new EvalContext("default", now, new TickCache()));
+
+        assertThat(cap.getValue().timeFrom()).isEqualTo(createdRecent);
+    }
+
     @Test
     void kindIsExchangeMatch() {
         assertThat(eval.kind()).isEqualTo(ConditionKind.EXCHANGE_MATCH);
diff --git a/cameleer-server-app/src/test/java/com/cameleer/server/app/alerting/notify/WebhookDispatcherIT.java b/cameleer-server-app/src/test/java/com/cameleer/server/app/alerting/notify/WebhookDispatcherIT.java
index b26a4616..a45a81db 100644
--- a/cameleer-server-app/src/test/java/com/cameleer/server/app/alerting/notify/WebhookDispatcherIT.java
+++ b/cameleer-server-app/src/test/java/com/cameleer/server/app/alerting/notify/WebhookDispatcherIT.java
@@ -50,7 +50,7 @@ class WebhookDispatcherIT {
                 new ApacheOutboundHttpClientFactory(props, new SslContextBuilder()),
                 cipher,
                 new MustacheRenderer(),
-                new AlertingProperties(null, null, null, null, null, null, null, null, null, null, null, null, null),
+                new AlertingProperties(null, null, null, null, null, null, null, null, null, null, null, null, null, null),
                 new ObjectMapper()
         );
     }
diff --git a/cameleer-server-app/src/test/java/com/cameleer/server/app/alerting/retention/AlertingRetentionJobIT.java b/cameleer-server-app/src/test/java/com/cameleer/server/app/alerting/retention/AlertingRetentionJobIT.java
index 32c865e3..93ea1977 100644
--- a/cameleer-server-app/src/test/java/com/cameleer/server/app/alerting/retention/AlertingRetentionJobIT.java
+++ b/cameleer-server-app/src/test/java/com/cameleer/server/app/alerting/retention/AlertingRetentionJobIT.java
@@ -167,7 +167,7 @@ class AlertingRetentionJobIT extends AbstractPostgresIT {
             // effectiveEventRetentionDays = 90, effectiveNotificationRetentionDays = 30
             new com.cameleer.server.app.alerting.config.AlertingProperties(
                 null, null, null, null, null, null, null, null, null,
-                90, 30, null, null),
+                90, 30, null, null, null),
             instanceRepo,
             notificationRepo,
             fixedClock);