Out on the water, the devilfish was victorious, and the guards rewarded it for its service by filling it with poisoned crossbow bolts. Boat hooks and chains were used to haul the carcass out of the center of the Shifting Revel; there was just no putting a creature like that back into the box once it had served its purpose. The monster’s red blood mixed with that of its victims and slowly settled in a broad, dark cloud; even this had a deliberate part to play in what was to come next.

SCHOLARS OF the Therin Collegium, from their comfortable position well inland, could tell you that the wolf sharks of the Iron Sea are beautiful and fascinating creatures, their bodies more packed with muscle than any bull, their abrasive hide streaked with every color from old-copper green to stormcloud black. Anyone actually working the waterfront in Camorr and on the nearby coast could tell you that wolf sharks are big aggressive bastards that like to jump.

Carefully caged, starved, and maddened by blood, wolf sharks are the key to the customary highlight of the Shifting Revel. Other cities have gladiatorial games; other cities pit men against animals. But only in Camorr can you see a specially armed gladiator (a contrarequialla) battle a live, leaping shark, and in Camorr only women are allowed by tradition to be contrarequialla.

This is the Teeth Show.

LOCKE COULDN’T tell if the four women were truly beautiful, but they were undeniably striking. They were all dark-skinned Camorri with muscles like farm girls, imposing even at a distance, and they wore next to nothing-tight black cotton shifts across their chests, wrestler’s loincloths, and thin leather gloves. Their black hair was pulled back under the traditional red bandannas and threaded with brass and silver bangles that caught the sunlight in chains of white flashes. The purpose of these bangles was a matter of argument; some claimed that they confused the poor eyesight of the sharks, while just as many claimed that their glare helped the monsters better sight their prey.

Each contrarequialla carried two weapons; a short javelin in one hand and a special axe in the other. These axes had grips enclosed by full handguards, making them difficult to lose; they were double-headed, with the expected curved blade on one side and a long, sturdy pick-head on the other. A skilled fighter usually tried to slash a shark’s fins and tail to nothing before making a kill; few but the very best could kill with anything but the spike. Wolf shark skin could be like tree bark.

Locke stared at the grim women and felt his usual melancholy admiration. They were, to his eyes, as mad as they were courageous.

“I know that’s Cicilia de Ricura there, on the far left.” Don Lorenzo was pointing the women out for Lukas Fehrwight’s benefit, taking a break from more than an hour of rapid negotiations. “She’s decent. And beside her is Aganesse, who carries her javelin but never, ever uses it. The other two, well, they must be new. At least new to the Revel.”

“It’s so unfortunate,” said the Doña, “that the Berangias sisters aren’t out there today, Master Fehrwight. They’re the best.”

“Probably the best there ever has been.” Don Salvara squinted to cut some of the glare rising off the water and tried to estimate the size of the sharks, barely visible as shadows within their cages. “Or ever will be. But they haven’t been at the Revel for the past few months.”

Locke nodded and chewed on the inside of one of his cheeks. As Locke Lamora, garrista of the Gentlemen Bastards and respectable sneak thief, he knew the Berangias twins personally. He also knew exactly where they’d been for those past few months.

Out on the water, the first fighter was taking her position. Contrarequialla fought across a series of stepping-stone platforms, each about two feet wide and raised half a foot off the water. These platforms were set out in a square grid, four or five feet apart, leaving plenty of room for the opposition to swim between them. The women would have to hop between these platforms at a rapid pace to strike out at the sharks while dodging leaps in return; a slip into the water was usually the end of the contest.

Beyond the line of shark cages (opened by chain pulleys connected to a barge well beyond the periphery of any possible shark activity) there was a little boat, crewed by (extremely well-paid) volunteer rowers and carrying the three traditional observers of any Teeth Show. First, there was a priest of Iono in his sea-green robes fringed with silver. Beside him there was a black-robed, silver-masked priestess of Aza Guilla, Lady of the Long Silence, Goddess of Death. Lastly, there was a physiker, whose presence had always struck Locke as an extremely optimistic gesture.

“Camorr!” The young woman-apparently Cicilia de Ricura-raised her weapons into the air over her head. The heavy murmur of the crowd subsided, leaving only the noise of water lapping against boats and breakwaters. Fifteen thousand watchers held their collective breath. “I dedicate this death to Duke Nicovante, our lord and patron!” Such was the traditional phrasing of the contrarequialla’s salute; “this death” could conveniently refer to either participant in the battle.

With a great flourish of trumpets and the cheer of the crowd, the boatmen outside the circle of cages loosed the afternoon’s first shark. The ten-foot fish, already blood-mad, shot forth from imprisonment and began to circle the stepping platforms, its ominous gray fin slicing a rippling line in the water. Cicilia balanced on one foot and bent down to slap the water with the heel of the other, screaming oaths and challenges. The shark took the bait; in a few seconds it was in amongst the platforms, stocky body whipping back and forth like a toothy pendulum.

“This one doesn’t like to waste time!” Don Salvara actually wrung his hands together. “I bet it’s an early leaper.”

Barely had these words escaped his mouth than the shark rocketed up out of the water in a fountain of silver spray, hurling itself at the crouching fighter. The shark’s leap was not a high one; Cicilia avoided it by jumping right, to the next platform over. In midair she let her javelin go with a backhanded cast; the shaft sunk into the shark’s flank and quivered there for a split second before the streamlined mass of hungry muscle splashed back down into the water. Crowd reaction was mixed; the cast had displayed remarkable agility but minimal power. Cicilia’s shark was likely only further angered, and her javelin wasted.

“Oh, poor decision.” The doña clicked her tongue. “This girl needs to learn some patience. We’ll see if her new friend gives her the chance.”

Thrashing, spraying pink-foamed water, the shark maneuvered for another attack, chasing Cicilia’s shadow on the water. She hopped from platform to platform, axe reversed so the spike was facing outward.

“Master Fehrwight.” Don Lorenzo removed his optics and played with them while he watched the fight; apparently, they weren’t necessary for use at long distances. “I can accept your terms, but you have to appreciate that my portion of the initial risk is quite heavy, especially relative to my total available funds. My request, therefore, is that the split of revenues from our Austershalin sales be adjusted to fifty-five, forty-five, in my favor.”

Locke pretended to ponder while Cicilia pumped her arms and leaped for dear life, the eager gray fin slashing through the water just behind her feet. “I’m authorized to make such a concession on behalf of my masters. In return…I would fix your family’s ownership interest in the resecured Austershalin vineyards at five percent.”

“Done!” The don smiled. “I will fund two large galleons, crew and officers, necessary bribes and arrangements, and a cargo to take north with us. I’ll oversee one galleon; you the other. Mercenary crews of my choosing to be placed aboard each vessel for added security. Conté will travel with you; your Graumann can stay at my side. Any expenditures that bring our budget over twenty-five thousand Camorri crowns are to be made solely at my discretion.”