Good point, bad question. Essentially, theres a ./migrations folder that holds all your migrations similar to diesel (the only other migrations thing ive used so dont think I have any experience). ./migrations/vagabond holds an ordered list of all migrations, and a vagabond table in the database holds the currently applied migration.
When the binary is called without a subcommand, it will display a list of applied (green) and unapplied (red) migrations.
goodbye and have an excellent day