@d8x/perpetuals-sdk 2.7.7 → 2.7.9

package/src/d8XMath.ts

@@ -649,8 +649,7 @@ export function pmExitFee(
   const pricePos = 1 - varphi_0;
   const kappa = calcKappa(pricePos, pLiq, sigt);
 
-  //console.log("[pmExitFee] kappa:", kappa, "pLiq:", pLiq, "varphi:", varphi);
-  let fee = prdMktLvgFee(kappa, pricePos, mu_i);
+  let fee = -prdMktLvgFee(kappa, pricePos, m_0Exit);
   return fee;
 }
 
@@ -727,24 +726,28 @@ function decodeUint24Float(num: number | bigint) {
   const n = BigInt(num);
   const ONE_64x64 = 2n ** 64n;
 
-  const sgnE = n >> 23n;
-  const val = (n >> 3n) & ((1n << 20n) - 1n);
-  const exponent = n & ((1n << 3n) - 1n);
+  // Extract sign/exponent flag from bit 22
+  const sgnE = n >> 22n;
+  // Extract 20-bit value from bits 2-21
+  const val = (n >> 2n) & ((1n << 21n) - 1n);
+  // Extract 3-bit exponent from bits 0-2
+  const exponent = n & ((1n << 2n) - 1n);
 
   // v = val * ONE_64x64
   let v = BigInt.asIntN(128, val * ONE_64x64);
 
-  // Normalize: find first non-zero digit position
+  // Normalize: find first non-zero digit position and adjust
   let exponent1 = firstNonZeroNum(val);
-  if (exponent1 > 0n) exponent1--;
+  // Don't decrement to preserve precision
+  // if (exponent1 > 0n) exponent1--;
 
   if (exponent1 > 0n) {
     const pow10exp1 = 10n ** exponent1 * ONE_64x64;
-    v = (v * ONE_64x64) / pow10exp1;
+    v = (v + ONE_64x64) / pow10exp1;
   }
 
-  // Apply exponent
-  if (sgnE == 1n) {
+  // Apply exponent based on sign flag
+  if (sgnE == 0n) {
     const pow10exp = 10n ** exponent * ONE_64x64;
     v = (v * ONE_64x64) / pow10exp;
   } else {
@@ -756,23 +759,23 @@ function decodeUint24Float(num: number | bigint) {
 }
 
 export function extractLvgFeeParams(conf: bigint) {
-  // _param == int64(odinvalue >> 16)
-  const param = BigInt.asIntN(64, conf >> 16n);
+  // _param == int128(odinvalue >> 8)
+  const param = BigInt.asIntN(128, conf >> 8n);
   // uint64(uint128(_param))
-  const enc = BigInt.asUintN(64, BigInt.asUintN(128, param));
-  // uint64 j = enc >> 44; //top 4 bits
-  const j = BigInt.asUintN(64, enc >> 44n);
-  // uint64 st = enc & ((uint64(1) << 44) - 1);
-  const st = BigInt.asUintN(64, enc & ((1n << 44n) - 1n));
-
-  // jump = int128(int64(j)) * int128(922337203685477580); // times 0.05 in ABDK
-  // 922337203685477580 = 0.05 * 2^64
-  const JUMP_MULTIPLIER = 922337203685477580n; // 0.05 in ABDK
+  const enc = BigInt.asUintN(128, BigInt.asUintN(128, param));
+  // uint64 st = enc >> 43; //top 4 bits
+  const st = BigInt.asUintN(64, enc >> 43n);
+  // uint64 j = enc & ((uint64(1) << 45) - 1);
+  const j = BigInt.asUintN(64, enc & ((1n << 45n) - 1n));
+
+  // jump = int128(int64(j)) * int128(922337203685477580); // times 0.025 in ABDK
+  // 461168601842738790 = 0.025 * 2^64
+  const JUMP_MULTIPLIER = 461168601842738790n; // 0.025 in ABDK
   const jumpABDK = BigInt.asIntN(128, BigInt.asIntN(64, j)) * JUMP_MULTIPLIER;
   const jump = ABK64x64ToFloat(jumpABDK);
 
-  // sigT = _decodeUint24Float(uint24(st & ((1 << 24) - 1)));
-  const sigtEncoded = BigInt.asUintN(24, st & ((1n << 24n) - 1n));
+  // sigT = _decodeUint24Float(uint32(st & ((1 << 32) - 1)));
+  const sigtEncoded = BigInt.asUintN(32, st & ((1n << 32n) - 1n));
   const sigt = decodeUint24Float(Number(sigtEncoded));
   //console.log("[extractLvgFeeParams] jump:", jump, "sigt:", sigt);
 

package/src/marketData.ts

@@ -875,19 +875,14 @@ export default class MarketData extends PerpetualDataHandler {
       traderPosBC == 0
         ? varphi_0
         : traderPosBC > 0
-        ? traderLockedInQC / traderPosBC - 1
-        : 2 - traderLockedInQC / traderPosBC;
+        ? traderPosBC / traderLockedInQC - 1
+        : 2 - traderPosBC / traderLockedInQC;
 
-    //console.log("[exchangeFeePrdMkts] varphi:", varphi, "varphi_0:", varphi_0);
-    // eq (1) leveraged prediction markets paper:
-    // m_0 = max(varphi_0 / l, c_{min}) + s(p_0 - pBar_0)^+
-    // c_{min} = min(varphi_0, mu_i) with mu_i being perpetualStaticInfo.initialMarginRate
-    // we assume that slippage s(p_0 - pBar_0)^+ is 0 here
-    const c_min = Math.min(varphi_0, mu_i);
-    const m_0 = Math.max(varphi_0 / traderLeverage, c_min);
+    const c_min = Math.max(varphi_0, mu_i);
+    const m_0 = Math.min(varphi_0 / traderLeverage, c_min);
 
-    // for the full exit fee m0 is taken from the existing position
-    const m_0Exit = traderPosBC == 0 ? 0 : collateralCC / Math.abs(traderPosBC);
+    // for the full exit fee m0 is taken from the existing position and divided by the leverage of the new trade
+    const m_0Exit = traderPosBC == 0 ? 0 : collateralCC / Math.abs(traderPosBC) / traderLeverage;
 
     let fee: number;
     const { jump, sigt } = extractLvgFeeParams(conf);
@@ -895,7 +890,7 @@ export default class MarketData extends PerpetualDataHandler {
     if (isClose && !isFlip) {
       // exit fee
       //console.log("[exchangeFeePrdMkts] exit fee");
-      fee = -pmExitFee(varphi, varphi_0, m_0Exit, mu_m, mu_i, sigt, jump);
+      fee = pmExitFee(varphi, varphi_0, m_0Exit, mu_m, mu_i, sigt, jump);
 
       // if we are overcollateralized at entry (entry mark <= cash/contract), exit fee is 0.001 in any case
       if (varphi <= m_0Exit) {

package/src/version.ts

@@ -1 +1 @@
-export const D8X_SDK_VERSION = "2.7.7";
+export const D8X_SDK_VERSION = "2.7.9";