diff --git a/app/routers_v2/refractor.py b/app/routers_v2/refractor.py
index cb5d06a..d28aba2 100644
--- a/app/routers_v2/refractor.py
+++ b/app/routers_v2/refractor.py
@@ -23,8 +23,12 @@ _NEXT_THRESHOLD_ATTR = {
     4: None,
 }
 
+# Sentinel used by _build_card_state_response to distinguish "caller did not
+# pass image_url" (do the DB lookup) from "caller passed None" (use None).
+_UNSET = object()
 
-def _build_card_state_response(state, player_name=None) -> dict:
+
+def _build_card_state_response(state, player_name=None, image_url=_UNSET) -> dict:
     """Serialise a RefractorCardState into the standard API response shape.
 
     Produces a flat dict with player_id and team_id as plain integers,
@@ -67,22 +71,27 @@ def _build_card_state_response(state, player_name=None) -> dict:
     if player_name is not None:
         result["player_name"] = player_name
 
-    # Resolve image_url from the variant card row
-    image_url = None
-    if state.variant and state.variant > 0:
-        card_type = (
-            state.track.card_type if hasattr(state, "track") and state.track else None
-        )
-        if card_type:
-            CardModel = BattingCard if card_type == "batter" else PitchingCard
-            try:
-                variant_card = CardModel.get(
-                    (CardModel.player_id == state.player_id)
-                    & (CardModel.variant == state.variant)
-                )
-                image_url = variant_card.image_url
-            except CardModel.DoesNotExist:
-                pass
+    # Resolve image_url from the variant card row.
+    # When image_url is pre-fetched by the caller (batch list path), it is
+    # passed directly and the per-row DB query is skipped entirely.
+    if image_url is _UNSET:
+        image_url = None
+        if state.variant and state.variant > 0:
+            card_type = (
+                state.track.card_type
+                if hasattr(state, "track") and state.track
+                else None
+            )
+            if card_type:
+                CardModel = BattingCard if card_type == "batter" else PitchingCard
+                try:
+                    variant_card = CardModel.get(
+                        (CardModel.player_id == state.player_id)
+                        & (CardModel.variant == state.variant)
+                    )
+                    image_url = variant_card.image_url
+                except CardModel.DoesNotExist:
+                    pass
     result["image_url"] = image_url
 
     return result
@@ -230,14 +239,43 @@ async def list_card_states(
         query = query.where(RefractorCardState.last_evaluated_at.is_null(False))
 
     total = query.count() or 0
+    states_page = list(query.offset(offset).limit(limit))
+
+    # Pre-fetch image_urls in at most 2 bulk queries (one per card table) so
+    # that _build_card_state_response never issues a per-row CardModel.get().
+    batter_pids: set[int] = set()
+    pitcher_pids: set[int] = set()
+    for state in states_page:
+        if state.variant and state.variant > 0:
+            card_type = state.track.card_type if state.track else None
+            if card_type == "batter":
+                batter_pids.add(state.player_id)
+            elif card_type in ("sp", "rp"):
+                pitcher_pids.add(state.player_id)
+
+    image_url_map: dict[tuple[int, int], str | None] = {}
+    if batter_pids:
+        for card in BattingCard.select().where(BattingCard.player_id.in_(batter_pids)):
+            image_url_map[(card.player_id, card.variant)] = card.image_url
+    if pitcher_pids:
+        for card in PitchingCard.select().where(
+            PitchingCard.player_id.in_(pitcher_pids)
+        ):
+            image_url_map[(card.player_id, card.variant)] = card.image_url
+
     items = []
-    for state in query.offset(offset).limit(limit):
+    for state in states_page:
         player_name = None
         try:
             player_name = state.player.p_name
         except Exception:
             pass
-        items.append(_build_card_state_response(state, player_name=player_name))
+        img_url = image_url_map.get((state.player_id, state.variant))
+        items.append(
+            _build_card_state_response(
+                state, player_name=player_name, image_url=img_url
+            )
+        )
 
     return {"count": total, "items": items}