diff --git a/codetracer-python-recorder/codetracer_python_recorder/trace_balance.py b/codetracer-python-recorder/codetracer_python_recorder/trace_balance.py
new file mode 100644
index 0000000..b9a8edf
--- /dev/null
+++ b/codetracer-python-recorder/codetracer_python_recorder/trace_balance.py
@@ -0,0 +1,104 @@
+"""Utilities for validating the balance of Codetracer JSON trace files.
+
+A trace is considered *balanced* when it contains the same number of
+``Call`` and ``Return`` events and the stream of events never dips below
+zero (i.e. we never see a return without a preceding call).  This helper
+module provides small, importable utilities that can be reused by the
+CLI helper script as well as unit tests.
+"""
+
+from __future__ import annotations
+
+import json
+from dataclasses import dataclass
+from pathlib import Path
+from typing import Any, Iterable, Mapping, Sequence
+
+
+class TraceBalanceError(RuntimeError):
+    """Raised when the trace file is malformed or cannot be processed."""
+
+
+@dataclass(frozen=True)
+class TraceBalanceResult:
+    """Summary information about call/return balance within a trace."""
+
+    call_count: int
+    return_count: int
+    first_negative_index: int | None
+
+    @property
+    def is_balanced(self) -> bool:
+        """Return True when the trace has matching call/return counts and never underflows."""
+        return self.call_count == self.return_count and self.first_negative_index is None
+
+    @property
+    def delta(self) -> int:
+        """Number of call events minus return events."""
+        return self.call_count - self.return_count
+
+
+def load_trace_events(trace_path: Path) -> Sequence[Mapping[str, Any]]:
+    """Load and validate the JSON event stream from ``trace.json``."""
+    try:
+        raw_text = trace_path.read_text(encoding="utf-8")
+    except FileNotFoundError as exc:
+        raise TraceBalanceError(f"trace file not found: {trace_path}") from exc
+    except OSError as exc:  # pragma: no cover - surfaced in tests via mocked IO
+        raise TraceBalanceError(f"unable to read trace file: {trace_path}") from exc
+
+    try:
+        data = json.loads(raw_text)
+    except json.JSONDecodeError as exc:
+        raise TraceBalanceError(f"invalid JSON in trace file: {trace_path}: {exc}") from exc
+
+    if not isinstance(data, list):
+        raise TraceBalanceError(f"trace root must be a JSON array, got {type(data).__name__}")
+
+    for index, event in enumerate(data):
+        if not isinstance(event, dict):
+            raise TraceBalanceError(
+                f"event #{index} is not a JSON object (found {type(event).__name__})"
+            )
+
+    return data
+
+
+def summarize_trace_balance(events: Iterable[Mapping[str, Any]]) -> TraceBalanceResult:
+    """Return a balance summary for the provided event sequence."""
+    calls = 0
+    returns = 0
+    active_calls = 0
+    first_negative_index: int | None = None
+
+    for index, event in enumerate(events):
+        is_call = "Call" in event
+        is_return = "Return" in event
+
+        if is_call and is_return:
+            raise TraceBalanceError(
+                f"event #{index} contains both Call and Return payloads, which is unsupported"
+            )
+
+        if is_call:
+            calls += 1
+            active_calls += 1
+        if is_return:
+            returns += 1
+            active_calls -= 1
+            if active_calls < 0 and first_negative_index is None:
+                first_negative_index = index
+
+    return TraceBalanceResult(
+        call_count=calls,
+        return_count=returns,
+        first_negative_index=first_negative_index,
+    )
+
+
+__all__ = [
+    "TraceBalanceError",
+    "TraceBalanceResult",
+    "load_trace_events",
+    "summarize_trace_balance",
+]
diff --git a/codetracer-python-recorder/scripts/check_trace_balance.py b/codetracer-python-recorder/scripts/check_trace_balance.py
new file mode 100644
index 0000000..78d8890
--- /dev/null
+++ b/codetracer-python-recorder/scripts/check_trace_balance.py
@@ -0,0 +1,69 @@
+"""CLI helper to verify that a Codetracer ``trace.json`` stream is balanced."""
+
+from __future__ import annotations
+
+import argparse
+import sys
+from pathlib import Path
+from typing import Sequence
+
+from codetracer_python_recorder.trace_balance import (
+    TraceBalanceError,
+    load_trace_events,
+    summarize_trace_balance,
+)
+
+
+def build_parser() -> argparse.ArgumentParser:
+    parser = argparse.ArgumentParser(
+        description="Check whether a Codetracer trace.json has matching call and return events.",
+    )
+    parser.add_argument(
+        "trace",
+        type=Path,
+        help="Path to trace.json emitted by Codetracer",
+    )
+    return parser
+
+
+def main(argv: Sequence[str] | None = None) -> int:
+    parser = build_parser()
+    args = parser.parse_args(argv)
+
+    trace_path = args.trace
+
+    try:
+        events = load_trace_events(trace_path)
+        result = summarize_trace_balance(events)
+    except TraceBalanceError as exc:
+        print(f"error: {exc}", file=sys.stderr)
+        return 2
+
+    if result.is_balanced:
+        print(
+            f"Balanced trace: {result.call_count} call events, "
+            f"{result.return_count} return events."
+        )
+        return 0
+
+    print("Unbalanced trace detected.")
+    print(f"Call events   : {result.call_count}")
+    print(f"Return events : {result.return_count}")
+
+    delta = result.delta
+    if delta > 0:
+        print(f"Missing {delta} return event(s).")
+    elif delta < 0:
+        print(f"Unexpected {-delta} extra return event(s).")
+
+    if result.first_negative_index is not None:
+        print(
+            "The first unmatched return appears at event "
+            f"#{result.first_negative_index} (0-based index)."
+        )
+
+    return 1
+
+
+if __name__ == "__main__":
+    sys.exit(main())
diff --git a/codetracer-python-recorder/tests/python/test_trace_balance.py b/codetracer-python-recorder/tests/python/test_trace_balance.py
new file mode 100644
index 0000000..65c4680
--- /dev/null
+++ b/codetracer-python-recorder/tests/python/test_trace_balance.py
@@ -0,0 +1,101 @@
+import json
+import importlib.util
+from pathlib import Path
+from typing import List, Mapping
+
+import pytest
+
+from codetracer_python_recorder.trace_balance import (
+    TraceBalanceError,
+    TraceBalanceResult,
+    load_trace_events,
+    summarize_trace_balance,
+)
+
+
+def _write_trace(tmp_path: Path, events: List[Mapping[str, object]]) -> Path:
+    path = tmp_path / "trace.json"
+    path.write_text(json.dumps(events))
+    return path
+
+
+def _load_cli() -> object:
+    module_path = Path(__file__).parents[2] / "scripts" / "check_trace_balance.py"
+    spec = importlib.util.spec_from_file_location("check_trace_balance", module_path)
+    if spec is None or spec.loader is None:
+        raise RuntimeError("Unable to load check_trace_balance.py module spec")
+    module = importlib.util.module_from_spec(spec)
+    spec.loader.exec_module(module)
+    return module
+
+
+def test_summarize_trace_balance_identifies_balanced_trace() -> None:
+    events = [{"Call": {}}, {"Return": {}}]
+    result = summarize_trace_balance(events)
+
+    assert isinstance(result, TraceBalanceResult)
+    assert result.call_count == 1
+    assert result.return_count == 1
+    assert result.is_balanced
+    assert result.delta == 0
+    assert result.first_negative_index is None
+
+
+def test_summarize_trace_balance_detects_missing_return() -> None:
+    events = [{"Call": {}}, {"Call": {}}, {"Return": {}}]
+    result = summarize_trace_balance(events)
+
+    assert result.call_count == 2
+    assert result.return_count == 1
+    assert not result.is_balanced
+    assert result.delta == 1
+    assert result.first_negative_index is None
+
+
+def test_summarize_trace_balance_detects_unmatched_return() -> None:
+    events = [{"Return": {}}, {"Call": {}}]
+    result = summarize_trace_balance(events)
+
+    assert result.call_count == 1
+    assert result.return_count == 1
+    assert not result.is_balanced
+    assert result.first_negative_index == 0
+
+
+def test_load_trace_events_validates_structure(tmp_path: Path) -> None:
+    trace_path = _write_trace(tmp_path, [{"Call": {}}])
+
+    events = load_trace_events(trace_path)
+    assert isinstance(events, list)
+    assert events[0]["Call"] == {}
+
+
+def test_load_trace_events_raises_on_non_array(tmp_path: Path) -> None:
+    trace_path = tmp_path / "trace.json"
+    trace_path.write_text("{}")
+
+    with pytest.raises(TraceBalanceError):
+        load_trace_events(trace_path)
+
+
+def test_cli_returns_non_zero_on_unbalanced(tmp_path: Path, capsys: pytest.CaptureFixture[str]) -> None:
+    trace_path = _write_trace(tmp_path, [{"Call": {}}, {"Return": {}}, {"Return": {}}])
+    cli = _load_cli()
+
+    exit_code = cli.main([str(trace_path)])
+    captured = capsys.readouterr()
+
+    assert exit_code == 1
+    assert "Unbalanced trace detected." in captured.out
+    assert "Unexpected 1 extra return event(s)." in captured.out
+
+
+def test_cli_reports_success_for_balanced_trace(tmp_path: Path, capsys: pytest.CaptureFixture[str]) -> None:
+    trace_path = _write_trace(tmp_path, [{"Call": {}}, {"Return": {}}])
+    cli = _load_cli()
+
+    exit_code = cli.main([str(trace_path)])
+    captured = capsys.readouterr()
+
+    assert exit_code == 0
+    assert "Balanced trace" in captured.out