Peatland carbon dynamics are typically evaluated using vertical carbon exchange processes; however, carbon exported through hydrologic pathways is rarely quantified despite its potential to increase under disturbance and hydroclimatic extremes. We assessed system carbon cycling in a partially harvested alpine fen in the Canadian Rocky Mountains by integrating vertical fluxes (eddy covariance CO₂ exchange and CH₄ emissions) with lateral dissolved organic carbon (DOC) and dissolved inorganic carbon (DIC) export from the fen hydrologic network. Vertical CO₂ and CH₄ fluxes constrain peatland carbon sequestration potential and radiative forcing, whereas lateral DOC and DIC export represents carbon mobilized from peat soils and transported through aquatic networks for downstream storage or mineralization. Daily DOC and DIC loads were modelled from concentration–discharge relationships and scaled to the fen area. Hydrologic drivers were assessed using precipitation and discharge dynamics. Across the 2025 growing season, vertical CO₂ and CH₄ fluxes dominated NECB, indicating that atmospheric exchange remained the primary control on seasonal carbon balance. In contrast, DOC and DIC export comprised a smaller portion of NECB but was strongly episodic: short-duration high-flow events mobilized disproportionate dissolved carbon loads relative to baseflow. These results show that while vertical exchange governs seasonal peatland carbon balance, hydrologic export introduces pulse-driven losses that may become increasingly important in disturbed peatlands under greater hydroclimatic variability. Although this observational study does not isolate harvesting effects, it provides important context for system carbon budgets, including vertical exchange and lateral export, supporting improved management of disturbed peatlands in Canada.