diff --git a/src/dashboard/app.py b/src/dashboard/app.py
index 40ba5c3..6124ad9 100644
--- a/src/dashboard/app.py
+++ b/src/dashboard/app.py
@@ -111,6 +111,7 @@ def create_dashboard_app(db_path: str) -> FastAPI:
 
             return {
                 "date": today,
+                "mode": os.getenv("MODE", "paper"),
                 "markets": market_status,
                 "totals": {
                     "trade_count": total_trades,
diff --git a/src/dashboard/static/index.html b/src/dashboard/static/index.html
index 120b9b2..ff32ab8 100644
--- a/src/dashboard/static/index.html
+++ b/src/dashboard/static/index.html
@@ -43,6 +43,19 @@
         font-size: 12px; transition: border-color 0.2s;
       }
       .refresh-btn:hover { border-color: var(--accent); color: var(--accent); }
+      .mode-badge {
+        padding: 3px 10px; border-radius: 5px; font-size: 12px; font-weight: 700;
+        letter-spacing: 0.5px;
+      }
+      .mode-badge.live {
+        background: rgba(224, 85, 85, 0.15); color: var(--red);
+        border: 1px solid rgba(224, 85, 85, 0.4);
+        animation: pulse-warn 2s ease-in-out infinite;
+      }
+      .mode-badge.paper {
+        background: rgba(232, 160, 64, 0.15); color: var(--warn);
+        border: 1px solid rgba(232, 160, 64, 0.4);
+      }
 
       /* CB Gauge */
       .cb-gauge-wrap {
@@ -225,6 +238,7 @@
       <header>
         <h1>&#x1F40D; The Ouroboros</h1>
         <div class="header-right">
+          <span class="mode-badge" id="mode-badge">--</span>
           <div class="cb-gauge-wrap" id="cb-gauge" title="Circuit Breaker">
             <span class="cb-dot unknown" id="cb-dot"></span>
             <span id="cb-label">CB --</span>
@@ -512,9 +526,22 @@
           }
           document.getElementById('card-pnl-sub').textContent = `결정 ${t.decision_count ?? 0}건`;
           renderCbGauge(d.circuit_breaker);
+          renderModeBadge(d.mode);
         } catch {}
       }
 
+      function renderModeBadge(mode) {
+        const el = document.getElementById('mode-badge');
+        if (!el) return;
+        if (mode === 'live') {
+          el.textContent = '🔴 실전투자';
+          el.className = 'mode-badge live';
+        } else {
+          el.textContent = '🟡 모의투자';
+          el.className = 'mode-badge paper';
+        }
+      }
+
       async function fetchPerformance() {
         try {
           const r = await fetch('/api/performance?market=all');
diff --git a/tests/test_dashboard.py b/tests/test_dashboard.py
index dd3b8cb..38d872e 100644
--- a/tests/test_dashboard.py
+++ b/tests/test_dashboard.py
@@ -413,3 +413,30 @@ def test_status_circuit_breaker_unknown_when_no_data(tmp_path: Path) -> None:
     cb = body["circuit_breaker"]
     assert cb["status"] == "unknown"
     assert cb["current_pnl_pct"] is None
+
+
+def test_status_mode_paper(tmp_path: Path, monkeypatch: pytest.MonkeyPatch) -> None:
+    """MODE=paper일 때 status 응답에 mode=paper가 포함돼야 한다."""
+    monkeypatch.setenv("MODE", "paper")
+    app = _app(tmp_path)
+    get_status = _endpoint(app, "/api/status")
+    body = get_status()
+    assert body["mode"] == "paper"
+
+
+def test_status_mode_live(tmp_path: Path, monkeypatch: pytest.MonkeyPatch) -> None:
+    """MODE=live일 때 status 응답에 mode=live가 포함돼야 한다."""
+    monkeypatch.setenv("MODE", "live")
+    app = _app(tmp_path)
+    get_status = _endpoint(app, "/api/status")
+    body = get_status()
+    assert body["mode"] == "live"
+
+
+def test_status_mode_default_paper(tmp_path: Path, monkeypatch: pytest.MonkeyPatch) -> None:
+    """MODE 환경변수가 없으면 mode 기본값은 paper여야 한다."""
+    monkeypatch.delenv("MODE", raising=False)
+    app = _app(tmp_path)
+    get_status = _endpoint(app, "/api/status")
+    body = get_status()
+    assert body["mode"] == "paper"