OK I made some adjustments to the code.
What is different now is that I made sure Pin 13 is LOW.
Before, the Pin 13 LED was turned on (default?)
NOW with the Pin 13 LED turned off, Vbase reads from -10mV to +50mV which is much less than +200mV before, and Vtop reads almost 5.0v exactly (5.02, 5.05).
So it might have been coupling (inductive coupling?) from Pin 13 right next to Pin 12, giving the non-Zero voltage?
Here's the code just FYI. Very simple test code.
void setup() {
pinMode(12, OUTPUT);
pinMode(13, OUTPUT);
digitalWrite(13, LOW);
}
void loop() {
digitalWrite(12, HIGH);
digitalWrite(12, LOW);
}
FYI the frequency of this square wave (which is not super super stable) is around 94 kHz.