@drift-labs/sdk 2.129.0-beta.2 → 2.129.0-beta.4

package/VERSION

@@ -1 +1 @@
-2.129.0-beta.2
+2.129.0-beta.4

package/lib/browser/adminClient.d.ts

@@ -230,6 +230,10 @@ export declare class AdminClient extends DriftClient {
     getUpdateProtectedMakerModeConfigIx(maxUsers: number, reduceOnly: boolean, currentUsers: undefined): Promise<TransactionInstruction>;
     adminDeposit(marketIndex: number, amount: BN, depositUserAccount: PublicKey, adminTokenAccount?: PublicKey): Promise<TransactionSignature>;
     getAdminDepositIx(marketIndex: number, amount: BN, depositUserAccount: PublicKey, adminTokenAccount?: PublicKey): Promise<TransactionInstruction>;
-    zeroAmmFieldsPrepMmOracleInfo(marketIndex: number): Promise<TransactionSignature>;
-    getZeroAmmFieldsPrepMmOracleInfoIx(marketIndex: number): Promise<TransactionInstruction>;
+    updateMmOracleNative(marketIndex: number, oraclePrice: BN, oracleSequenceId: BN): Promise<TransactionSignature>;
+    getUpdateMmOracleNativeIx(marketIndex: number, oraclePrice: BN, oracleSequenceId: BN): Promise<TransactionInstruction>;
+    updateAmmSpreadAdjustmentNative(marketIndex: number, ammSpreadAdjustment: number): Promise<TransactionSignature>;
+    getUpdateAmmSpreadAdjustmentNativeIx(marketIndex: number, ammSpreadAdjustment: number): TransactionInstruction;
+    updateDisableBitFlagsMMOracle(disable: boolean): Promise<TransactionSignature>;
+    getUpdateDisableBitFlagsMMOracleIx(disable: boolean): Promise<TransactionInstruction>;
 }

package/lib/browser/adminClient.js

@@ -40,6 +40,7 @@ const phoenix_sdk_1 = require("@ellipsis-labs/phoenix-sdk");
 const config_1 = require("./config");
 const pythOracleUtils_1 = require("./util/pythOracleUtils");
 const txConstants_1 = require("./constants/txConstants");
+const utils_2 = require("./tx/utils");
 const OPENBOOK_PROGRAM_ID = new web3_js_1.PublicKey('opnb2LAfJYbRMAHHvqjCwQxanZn7ReEHp1k81EohpZb');
 class AdminClient extends driftClient_1.DriftClient {
     async initialize(usdcMint, _adminControlsPrices) {
@@ -2103,17 +2104,95 @@ class AdminClient extends driftClient_1.DriftClient {
             },
         });
     }
-    async zeroAmmFieldsPrepMmOracleInfo(marketIndex) {
-        const zeroAmmFieldsPrepMmOracleInfoIx = await this.getZeroAmmFieldsPrepMmOracleInfoIx(marketIndex);
-        const tx = await this.buildTransaction(zeroAmmFieldsPrepMmOracleInfoIx);
+    async updateMmOracleNative(marketIndex, oraclePrice, oracleSequenceId) {
+        const updateMmOracleIx = await this.getUpdateMmOracleNativeIx(marketIndex, oraclePrice, oracleSequenceId);
+        const tx = await this.buildTransaction(updateMmOracleIx, {
+            computeUnits: 5000,
+            computeUnitsPrice: 0,
+        });
         const { txSig } = await this.sendTransaction(tx, [], this.opts);
         return txSig;
     }
-    async getZeroAmmFieldsPrepMmOracleInfoIx(marketIndex) {
-        return await this.program.instruction.zeroAmmFieldsPrepMmOracleInfo({
+    async getUpdateMmOracleNativeIx(marketIndex, oraclePrice, oracleSequenceId) {
+        const discriminatorBuffer = (0, utils_2.createNativeInstructionDiscriminatorBuffer)(0);
+        const data = Buffer.alloc(discriminatorBuffer.length + 16);
+        data.set(discriminatorBuffer, 0);
+        data.set(oraclePrice.toArrayLike(Buffer, 'le', 8), 5); // next 8 bytes
+        data.set(oracleSequenceId.toArrayLike(Buffer, 'le', 8), 13); // next 8 bytes
+        // Build the instruction manually
+        return new web3_js_1.TransactionInstruction({
+            programId: this.program.programId,
+            keys: [
+                {
+                    pubkey: this.getPerpMarketAccount(marketIndex).pubkey,
+                    isWritable: true,
+                    isSigner: false,
+                },
+                {
+                    pubkey: this.wallet.publicKey,
+                    isWritable: false,
+                    isSigner: true,
+                },
+                {
+                    pubkey: web3_js_1.SYSVAR_CLOCK_PUBKEY,
+                    isWritable: false,
+                    isSigner: false,
+                },
+                {
+                    pubkey: await this.getStatePublicKey(),
+                    isWritable: false,
+                    isSigner: false,
+                },
+            ],
+            data,
+        });
+    }
+    async updateAmmSpreadAdjustmentNative(marketIndex, ammSpreadAdjustment) {
+        const updateMmOracleIx = await this.getUpdateAmmSpreadAdjustmentNativeIx(marketIndex, ammSpreadAdjustment);
+        const tx = await this.buildTransaction(updateMmOracleIx, {
+            computeUnits: 1000,
+            computeUnitsPrice: 0,
+        });
+        const { txSig } = await this.sendTransaction(tx, [], this.opts);
+        return txSig;
+    }
+    getUpdateAmmSpreadAdjustmentNativeIx(marketIndex, ammSpreadAdjustment // i8
+    ) {
+        const discriminatorBuffer = (0, utils_2.createNativeInstructionDiscriminatorBuffer)(1);
+        const data = Buffer.alloc(discriminatorBuffer.length + 4);
+        data.set(discriminatorBuffer, 0);
+        data.writeInt8(ammSpreadAdjustment, 5); // next byte
+        // Build the instruction manually
+        return new web3_js_1.TransactionInstruction({
+            programId: this.program.programId,
+            keys: [
+                {
+                    pubkey: this.getPerpMarketAccount(marketIndex).pubkey,
+                    isWritable: true,
+                    isSigner: false,
+                },
+                {
+                    pubkey: this.wallet.publicKey,
+                    isWritable: false,
+                    isSigner: true,
+                },
+            ],
+            data,
+        });
+    }
+    async updateDisableBitFlagsMMOracle(disable) {
+        const updateDisableBitFlagsMMOracleIx = await this.getUpdateDisableBitFlagsMMOracleIx(disable);
+        const tx = await this.buildTransaction(updateDisableBitFlagsMMOracleIx);
+        const { txSig } = await this.sendTransaction(tx, [], this.opts);
+        return txSig;
+    }
+    async getUpdateDisableBitFlagsMMOracleIx(disable) {
+        return await this.program.instruction.updateDisableBitflagsMmOracle(disable, {
             accounts: {
-                admin: this.wallet.publicKey,
-                perpMarket: this.getPerpMarketAccount(marketIndex).pubkey,
+                admin: this.isSubscribed
+                    ? this.getStateAccount().admin
+                    : this.wallet.publicKey,
+                state: await this.getStatePublicKey(),
             },
         });
     }

package/lib/browser/dlob/orderBookLevels.d.ts

@@ -1,5 +1,5 @@
 /// <reference types="bn.js" />
-import { BN, DLOBNode, OraclePriceData, PerpMarketAccount } from '..';
+import { BN, DLOBNode, OraclePriceData, PerpMarketAccount, MMOraclePriceData } from '..';
 import { PublicKey } from '@solana/web3.js';
 type liquiditySource = 'serum' | 'vamm' | 'dlob' | 'phoenix' | 'openbook' | 'indicative';
 export type L2Level = {
@@ -36,7 +36,7 @@ export declare function mergeL2LevelGenerators(l2LevelGenerators: Generator<L2Le
 export declare function createL2Levels(generator: Generator<L2Level>, depth: number): L2Level[];
 export declare function getVammL2Generator({ marketAccount, oraclePriceData, numOrders, now, topOfBookQuoteAmounts, }: {
     marketAccount: PerpMarketAccount;
-    oraclePriceData: OraclePriceData;
+    oraclePriceData: OraclePriceData | MMOraclePriceData;
     numOrders: number;
     now?: BN;
     topOfBookQuoteAmounts?: BN[];

package/lib/browser/dlob/orderBookLevels.js

@@ -2,6 +2,7 @@
 Object.defineProperty(exports, "__esModule", { value: true });
 exports.uncrossL2 = exports.groupL2 = exports.getVammL2Generator = exports.createL2Levels = exports.mergeL2LevelGenerators = exports.getL2GeneratorFromDLOBNodes = exports.MAJORS_TOP_OF_BOOK_QUOTE_AMOUNTS = exports.DEFAULT_TOP_OF_BOOK_QUOTE_AMOUNTS = void 0;
 const __1 = require("..");
+const utils_1 = require("../oracles/utils");
 exports.DEFAULT_TOP_OF_BOOK_QUOTE_AMOUNTS = [
     new __1.BN(500).mul(__1.QUOTE_PRECISION),
     new __1.BN(1000).mul(__1.QUOTE_PRECISION),
@@ -94,7 +95,18 @@ function createL2Levels(generator, depth) {
 }
 exports.createL2Levels = createL2Levels;
 function getVammL2Generator({ marketAccount, oraclePriceData, numOrders, now = new __1.BN(Math.floor(Date.now() / 1000)), topOfBookQuoteAmounts = [], }) {
-    const updatedAmm = (0, __1.calculateUpdatedAMM)(marketAccount.amm, oraclePriceData);
+    let mmOraclePriceData;
+    if ('mmOraclePrice' in mmOraclePriceData) {
+        mmOraclePriceData = oraclePriceData;
+    }
+    else {
+        mmOraclePriceData = {
+            mmOraclePrice: marketAccount.amm.mmOraclePrice,
+            mmOracleSlot: marketAccount.amm.mmOracleSlot,
+            oraclePriceData: oraclePriceData,
+        };
+    }
+    const updatedAmm = (0, __1.calculateUpdatedAMM)(marketAccount.amm, mmOraclePriceData);
     const paused = (0, __1.isOperationPaused)(marketAccount.pausedOperations, __1.PerpOperation.AMM_FILL);
     let [openBids, openAsks] = paused
         ? [__1.ZERO, __1.ZERO]
@@ -103,12 +115,12 @@ function getVammL2Generator({ marketAccount, oraclePriceData, numOrders, now = n
         openBids = __1.ZERO;
     if (openAsks.abs().lt(marketAccount.amm.minOrderSize.muln(2)))
         openAsks = __1.ZERO;
-    const [bidReserves, askReserves] = (0, __1.calculateSpreadReserves)(updatedAmm, oraclePriceData, now, (0, __1.isVariant)(marketAccount.contractType, 'prediction'));
+    const [bidReserves, askReserves] = (0, __1.calculateSpreadReserves)(updatedAmm, mmOraclePriceData, now, (0, __1.isVariant)(marketAccount.contractType, 'prediction'));
     const numBaseOrders = Math.max(1, numOrders - topOfBookQuoteAmounts.length);
     const commonOpts = {
         numOrders,
         numBaseOrders,
-        oraclePriceData,
+        mmOraclePriceData,
         orderTickSize: marketAccount.amm.orderTickSize,
         orderStepSize: marketAccount.amm.orderStepSize,
         pegMultiplier: updatedAmm.pegMultiplier,
@@ -131,7 +143,7 @@ function getVammL2Generator({ marketAccount, oraclePriceData, numOrders, now = n
                     const raw = commonOpts.topOfBookQuoteAmounts[count]
                         .mul(__1.AMM_TO_QUOTE_PRECISION_RATIO)
                         .mul(__1.PRICE_PRECISION)
-                        .div(commonOpts.oraclePriceData.price);
+                        .div((0, utils_1.getOraclePriceFromMMOracleData)(commonOpts.mmOraclePriceData));
                     baseSwap = (0, __1.standardizeBaseAssetAmount)(raw, commonOpts.orderStepSize);
                     const remaining = openLiquidity.abs().sub(topSize);
                     if (remaining.lt(baseSwap))

package/lib/browser/driftClient.d.ts

@@ -12,7 +12,7 @@ import { EventEmitter } from 'events';
 import StrictEventEmitter from 'strict-event-emitter-types';
 import { DataAndSlot, DriftClientAccountEvents, DriftClientAccountSubscriber } from './accounts/types';
 import { TxSender, TxSigAndSlot } from './tx/types';
-import { OraclePriceData } from './oracles/types';
+import { MMOraclePriceData, OraclePriceData } from './oracles/types';
 import { DriftClientConfig } from './driftClientConfig';
 import { User } from './user';
 import { UserSubscriptionConfig } from './userConfig';
@@ -826,6 +826,7 @@ export declare class DriftClient {
     getSettleFundingPaymentIx(userAccountPublicKey: PublicKey): Promise<TransactionInstruction>;
     triggerEvent(eventName: keyof DriftClientAccountEvents, data?: any): void;
     getOracleDataForPerpMarket(marketIndex: number): OraclePriceData;
+    getMMOracleDataForPerpMarket(marketIndex: number): MMOraclePriceData;
     getOracleDataForSpotMarket(marketIndex: number): OraclePriceData;
     initializeInsuranceFundStake(marketIndex: number, txParams?: TxParams): Promise<TransactionSignature>;
     getInitializeInsuranceFundStakeIx(marketIndex: number): Promise<TransactionInstruction>;

package/lib/browser/driftClient.js

@@ -4418,6 +4418,14 @@ class DriftClient {
     getOracleDataForPerpMarket(marketIndex) {
         return this.accountSubscriber.getOraclePriceDataAndSlotForPerpMarket(marketIndex).data;
     }
+    getMMOracleDataForPerpMarket(marketIndex) {
+        const perpMarket = this.getPerpMarketAccount(marketIndex);
+        return {
+            mmOraclePrice: perpMarket.amm.mmOraclePrice,
+            mmOracleSlot: perpMarket.amm.mmOracleSlot,
+            oraclePriceData: this.getOracleDataForPerpMarket(marketIndex),
+        };
+    }
     getOracleDataForSpotMarket(marketIndex) {
         return this.accountSubscriber.getOraclePriceDataAndSlotForSpotMarket(marketIndex).data;
     }

package/lib/browser/idl/drift.json

@@ -1461,6 +1461,11 @@
                     "name": "user",
                     "isMut": true,
                     "isSigner": false
+                },
+                {
+                    "name": "signer",
+                    "isMut": false,
+                    "isSigner": true
                 }
             ],
             "args": [
@@ -6730,6 +6735,10 @@
                 {
                     "name": "ammInventorySpreadAdjustment",
                     "type": "i8"
+                },
+                {
+                    "name": "referencePriceOffset",
+                    "type": "i32"
                 }
             ]
         },
@@ -7525,20 +7534,25 @@
             ]
         },
         {
-            "name": "zeroAmmFieldsPrepMmOracleInfo",
+            "name": "updateDisableBitflagsMmOracle",
             "accounts": [
                 {
                     "name": "admin",
-                    "isMut": true,
+                    "isMut": false,
                     "isSigner": true
                 },
                 {
-                    "name": "perpMarket",
+                    "name": "state",
                     "isMut": true,
                     "isSigner": false
                 }
             ],
-            "args": []
+            "args": [
+                {
+                    "name": "disable",
+                    "type": "bool"
+                }
+            ]
         }
     ],
     "accounts": [
@@ -9027,12 +9041,16 @@
                         "name": "maxInitializeUserFee",
                         "type": "u16"
                     },
+                    {
+                        "name": "disableBitFlags",
+                        "type": "u8"
+                    },
                     {
                         "name": "padding",
                         "type": {
                             "array": [
                                 "u8",
-                                10
+                                9
                             ]
                         }
                     }
@@ -10841,7 +10859,7 @@
                         "type": "u64"
                     },
                     {
-                        "name": "maxPositionSize",
+                        "name": "mmOracleSlot",
                         "docs": [
                             "the max base size a single user can have",
                             "precision: BASE_PRECISION"
@@ -10929,18 +10947,11 @@
                         "type": "u32"
                     },
                     {
-                        "name": "longIntensityCount",
+                        "name": "mmOraclePrice",
                         "docs": [
-                            "the count intensity of long fills against AMM"
+                            "MM oracle price"
                         ],
-                        "type": "u32"
-                    },
-                    {
-                        "name": "shortIntensityCount",
-                        "docs": [
-                            "the count intensity of short fills against AMM"
-                        ],
-                        "type": "u32"
+                        "type": "i64"
                     },
                     {
                         "name": "maxFillReserveFraction",
@@ -11022,7 +11033,7 @@
                         "type": "i8"
                     },
                     {
-                        "name": "totalFeeEarnedPerLp",
+                        "name": "mmOracleSequenceId",
                         "type": "u64"
                     },
                     {

package/lib/browser/math/amm.d.ts

@@ -1,18 +1,18 @@
 /// <reference types="bn.js" />
 import { BN } from '@coral-xyz/anchor';
 import { AMM, PositionDirection, SwapDirection, PerpMarketAccount } from '../types';
-import { OraclePriceData } from '../oracles/types';
+import { MMOraclePriceData } from '../oracles/types';
 export declare function calculatePegFromTargetPrice(targetPrice: BN, baseAssetReserve: BN, quoteAssetReserve: BN): BN;
-export declare function calculateOptimalPegAndBudget(amm: AMM, oraclePriceData: OraclePriceData): [BN, BN, BN, boolean];
-export declare function calculateNewAmm(amm: AMM, oraclePriceData: OraclePriceData): [BN, BN, BN, BN];
-export declare function calculateUpdatedAMM(amm: AMM, oraclePriceData: OraclePriceData): AMM;
-export declare function calculateUpdatedAMMSpreadReserves(amm: AMM, direction: PositionDirection, oraclePriceData: OraclePriceData, isPrediction?: boolean): {
+export declare function calculateOptimalPegAndBudget(amm: AMM, mmOraclePriceData: MMOraclePriceData): [BN, BN, BN, boolean];
+export declare function calculateNewAmm(amm: AMM, mmOraclePriceData: MMOraclePriceData): [BN, BN, BN, BN];
+export declare function calculateUpdatedAMM(amm: AMM, mmOraclePriceData: MMOraclePriceData): AMM;
+export declare function calculateUpdatedAMMSpreadReserves(amm: AMM, direction: PositionDirection, mmOraclePriceData: MMOraclePriceData, isPrediction?: boolean): {
     baseAssetReserve: BN;
     quoteAssetReserve: BN;
     sqrtK: BN;
     newPeg: BN;
 };
-export declare function calculateBidAskPrice(amm: AMM, oraclePriceData: OraclePriceData, withUpdate?: boolean, isPrediction?: boolean): [BN, BN];
+export declare function calculateBidAskPrice(amm: AMM, mmOraclePriceData: MMOraclePriceData, withUpdate?: boolean, isPrediction?: boolean): [BN, BN];
 /**
  * Calculates a price given an arbitrary base and quote amount (they must have the same precision)
  *
@@ -63,9 +63,9 @@ export declare function calculateSpreadBN(baseSpread: number, lastOracleReserveP
     longSpread: number;
     shortSpread: number;
 };
-export declare function calculateSpread(amm: AMM, oraclePriceData: OraclePriceData, now?: BN, reservePrice?: BN): [number, number];
+export declare function calculateSpread(amm: AMM, mmOraclePriceData: MMOraclePriceData, now?: BN, reservePrice?: BN): [number, number];
 export declare function getQuoteAssetReservePredictionMarketBounds(amm: AMM, direction: PositionDirection): [BN, BN];
-export declare function calculateSpreadReserves(amm: AMM, oraclePriceData: OraclePriceData, now?: BN, isPrediction?: boolean): {
+export declare function calculateSpreadReserves(amm: AMM, mmOraclePriceData: MMOraclePriceData, now?: BN, isPrediction?: boolean): {
     baseAssetReserve: any;
     quoteAssetReserve: any;
 }[];
@@ -93,6 +93,6 @@ export declare function getSwapDirection(inputAssetType: AssetType, positionDire
  * @returns cost : Precision PRICE_PRECISION
  */
 export declare function calculateTerminalPrice(market: PerpMarketAccount): BN;
-export declare function calculateMaxBaseAssetAmountToTrade(amm: AMM, limit_price: BN, direction: PositionDirection, oraclePriceData?: OraclePriceData, now?: BN, isPrediction?: boolean): [BN, PositionDirection];
+export declare function calculateMaxBaseAssetAmountToTrade(amm: AMM, limit_price: BN, direction: PositionDirection, mmOraclePriceData?: MMOraclePriceData, now?: BN, isPrediction?: boolean): [BN, PositionDirection];
 export declare function calculateQuoteAssetAmountSwapped(quoteAssetReserves: BN, pegMultiplier: BN, swapDirection: SwapDirection): BN;
 export declare function calculateMaxBaseAssetAmountFillable(amm: AMM, orderDirection: PositionDirection): BN;

package/lib/browser/math/amm.js

@@ -8,6 +8,7 @@ const assert_1 = require("../assert/assert");
 const __1 = require("..");
 const repeg_1 = require("./repeg");
 const oracles_1 = require("./oracles");
+const utils_1 = require("../oracles/utils");
 function calculatePegFromTargetPrice(targetPrice, baseAssetReserve, quoteAssetReserve) {
     return anchor_1.BN.max(targetPrice
         .mul(baseAssetReserve)
@@ -16,9 +17,9 @@ function calculatePegFromTargetPrice(targetPrice, baseAssetReserve, quoteAssetRe
         .div(numericConstants_1.PRICE_DIV_PEG), numericConstants_1.ONE);
 }
 exports.calculatePegFromTargetPrice = calculatePegFromTargetPrice;
-function calculateOptimalPegAndBudget(amm, oraclePriceData) {
+function calculateOptimalPegAndBudget(amm, mmOraclePriceData) {
     const reservePriceBefore = calculatePrice(amm.baseAssetReserve, amm.quoteAssetReserve, amm.pegMultiplier);
-    const targetPrice = oraclePriceData.price;
+    const targetPrice = (0, utils_1.getOraclePriceFromMMOracleData)(mmOraclePriceData);
     const newPeg = calculatePegFromTargetPrice(targetPrice, amm.baseAssetReserve, amm.quoteAssetReserve);
     const prePegCost = (0, repeg_1.calculateRepegCost)(amm, newPeg);
     const totalFeeLB = amm.totalExchangeFee.div(new anchor_1.BN(2));
@@ -53,10 +54,10 @@ function calculateOptimalPegAndBudget(amm, oraclePriceData) {
     return [targetPrice, newPeg, budget, checkLowerBound];
 }
 exports.calculateOptimalPegAndBudget = calculateOptimalPegAndBudget;
-function calculateNewAmm(amm, oraclePriceData) {
+function calculateNewAmm(amm, mmOraclePriceData) {
     let pKNumer = new anchor_1.BN(1);
     let pKDenom = new anchor_1.BN(1);
-    const [targetPrice, _newPeg, budget, _checkLowerBound] = calculateOptimalPegAndBudget(amm, oraclePriceData);
+    const [targetPrice, _newPeg, budget, _checkLowerBound] = calculateOptimalPegAndBudget(amm, mmOraclePriceData);
     let prePegCost = (0, repeg_1.calculateRepegCost)(amm, _newPeg);
     let newPeg = _newPeg;
     if (prePegCost.gte(budget) && prePegCost.gt(numericConstants_1.ZERO)) {
@@ -80,12 +81,12 @@ function calculateNewAmm(amm, oraclePriceData) {
     return [prePegCost, pKNumer, pKDenom, newPeg];
 }
 exports.calculateNewAmm = calculateNewAmm;
-function calculateUpdatedAMM(amm, oraclePriceData) {
-    if (amm.curveUpdateIntensity == 0 || oraclePriceData === undefined) {
+function calculateUpdatedAMM(amm, mmOraclePriceData) {
+    if (amm.curveUpdateIntensity == 0 || mmOraclePriceData === undefined) {
         return amm;
     }
     const newAmm = Object.assign({}, amm);
-    const [prepegCost, pKNumer, pKDenom, newPeg] = calculateNewAmm(amm, oraclePriceData);
+    const [prepegCost, pKNumer, pKDenom, newPeg] = calculateNewAmm(amm, mmOraclePriceData);
     newAmm.baseAssetReserve = newAmm.baseAssetReserve.mul(pKNumer).div(pKDenom);
     newAmm.sqrtK = newAmm.sqrtK.mul(pKNumer).div(pKDenom);
     const invariant = newAmm.sqrtK.mul(newAmm.sqrtK);
@@ -103,9 +104,9 @@ function calculateUpdatedAMM(amm, oraclePriceData) {
     return newAmm;
 }
 exports.calculateUpdatedAMM = calculateUpdatedAMM;
-function calculateUpdatedAMMSpreadReserves(amm, direction, oraclePriceData, isPrediction = false) {
-    const newAmm = calculateUpdatedAMM(amm, oraclePriceData);
-    const [shortReserves, longReserves] = calculateSpreadReserves(newAmm, oraclePriceData, undefined, isPrediction);
+function calculateUpdatedAMMSpreadReserves(amm, direction, mmOraclePriceData, isPrediction = false) {
+    const newAmm = calculateUpdatedAMM(amm, mmOraclePriceData);
+    const [shortReserves, longReserves] = calculateSpreadReserves(newAmm, mmOraclePriceData, undefined, isPrediction);
     const dirReserves = (0, types_1.isVariant)(direction, 'long')
         ? longReserves
         : shortReserves;
@@ -118,15 +119,15 @@ function calculateUpdatedAMMSpreadReserves(amm, direction, oraclePriceData, isPr
     return result;
 }
 exports.calculateUpdatedAMMSpreadReserves = calculateUpdatedAMMSpreadReserves;
-function calculateBidAskPrice(amm, oraclePriceData, withUpdate = true, isPrediction = false) {
+function calculateBidAskPrice(amm, mmOraclePriceData, withUpdate = true, isPrediction = false) {
     let newAmm;
     if (withUpdate) {
-        newAmm = calculateUpdatedAMM(amm, oraclePriceData);
+        newAmm = calculateUpdatedAMM(amm, mmOraclePriceData);
     }
     else {
         newAmm = amm;
     }
-    const [bidReserves, askReserves] = calculateSpreadReserves(newAmm, oraclePriceData, undefined, isPrediction);
+    const [bidReserves, askReserves] = calculateSpreadReserves(newAmm, mmOraclePriceData, undefined, isPrediction);
     const askPrice = calculatePrice(askReserves.baseAssetReserve, askReserves.quoteAssetReserve, newAmm.pegMultiplier);
     const bidPrice = calculatePrice(bidReserves.baseAssetReserve, bidReserves.quoteAssetReserve, newAmm.pegMultiplier);
     return [bidPrice, askPrice];
@@ -435,21 +436,22 @@ function calculateSpreadBN(baseSpread, lastOracleReservePriceSpreadPct, lastOrac
     return [longSpread, shortSpread];
 }
 exports.calculateSpreadBN = calculateSpreadBN;
-function calculateSpread(amm, oraclePriceData, now, reservePrice) {
+function calculateSpread(amm, mmOraclePriceData, now, reservePrice) {
     if (amm.baseSpread == 0 || amm.curveUpdateIntensity == 0) {
         return [amm.baseSpread / 2, amm.baseSpread / 2];
     }
     if (!reservePrice) {
         reservePrice = calculatePrice(amm.baseAssetReserve, amm.quoteAssetReserve, amm.pegMultiplier);
     }
-    const targetPrice = (oraclePriceData === null || oraclePriceData === void 0 ? void 0 : oraclePriceData.price) || reservePrice;
+    const oraclePrice = (0, utils_1.getOraclePriceFromMMOracleData)(mmOraclePriceData);
+    const targetPrice = oraclePrice || reservePrice;
     const targetMarkSpreadPct = reservePrice
         .sub(targetPrice)
         .mul(numericConstants_1.BID_ASK_SPREAD_PRECISION)
         .div(reservePrice);
     now = now || new anchor_1.BN(new Date().getTime() / 1000); //todo
-    const liveOracleStd = (0, oracles_1.calculateLiveOracleStd)(amm, oraclePriceData, now);
-    const confIntervalPct = (0, oracles_1.getNewOracleConfPct)(amm, oraclePriceData, reservePrice, now);
+    const liveOracleStd = (0, oracles_1.calculateLiveOracleStd)(amm, oraclePrice, now);
+    const confIntervalPct = (0, oracles_1.getNewOracleConfPct)(amm, (0, utils_1.getOracleConfidenceFromMMOracleData)(mmOraclePriceData), reservePrice, now);
     const spreads = calculateSpreadBN(amm.baseSpread, targetMarkSpreadPct, confIntervalPct, amm.maxSpread, amm.quoteAssetReserve, amm.terminalQuoteAssetReserve, amm.pegMultiplier, amm.baseAssetAmountWithAmm, reservePrice, amm.totalFeeMinusDistributions, amm.netRevenueSinceLastFunding, amm.baseAssetReserve, amm.minBaseAssetReserve, amm.maxBaseAssetReserve, amm.markStd, liveOracleStd, amm.longIntensityVolume, amm.shortIntensityVolume, amm.volume24H, amm.ammInventorySpreadAdjustment);
     let longSpread = spreads[0];
     let shortSpread = spreads[1];
@@ -487,7 +489,7 @@ function getQuoteAssetReservePredictionMarketBounds(amm, direction) {
     return [quoteAssetReserveLowerBound, quoteAssetReserveUpperBound];
 }
 exports.getQuoteAssetReservePredictionMarketBounds = getQuoteAssetReservePredictionMarketBounds;
-function calculateSpreadReserves(amm, oraclePriceData, now, isPrediction = false) {
+function calculateSpreadReserves(amm, mmOraclePriceData, now, isPrediction = false) {
     function calculateSpreadReserve(spread, direction, amm) {
         if (spread === 0) {
             return {
@@ -529,7 +531,29 @@ function calculateSpreadReserves(amm, oraclePriceData, now, isPrediction = false
         const liquidityFractionSigned = liquidityFraction.mul((0, __1.sigNum)(amm.baseAssetAmountWithAmm.add(amm.baseAssetAmountWithUnsettledLp)));
         referencePriceOffset = calculateReferencePriceOffset(reservePrice, amm.last24HAvgFundingRate, liquidityFractionSigned, amm.historicalOracleData.lastOraclePriceTwap5Min, amm.lastMarkPriceTwap5Min, amm.historicalOracleData.lastOraclePriceTwap, amm.lastMarkPriceTwap, maxOffset).toNumber();
     }
-    const [longSpread, shortSpread] = calculateSpread(amm, oraclePriceData, now, reservePrice);
+    let [longSpread, shortSpread] = calculateSpread(amm, mmOraclePriceData, now, reservePrice);
+    const doReferencePricOffsetSmooth = Math.sign(referencePriceOffset) !== Math.sign(amm.referencePriceOffset) &&
+        amm.curveUpdateIntensity > 100;
+    if (doReferencePricOffsetSmooth) {
+        if (mmOraclePriceData.oraclePriceData.slot !== amm.lastUpdateSlot) {
+            const slotsPassed = mmOraclePriceData.oraclePriceData.slot.toNumber() -
+                amm.lastUpdateSlot.toNumber();
+            const fullOffsetDelta = referencePriceOffset - amm.referencePriceOffset;
+            const raw = Math.trunc(Math.min(Math.abs(fullOffsetDelta), slotsPassed * 1000) / 10);
+            const maxAllowed = Math.abs(amm.referencePriceOffset) || Math.abs(referencePriceOffset);
+            const magnitude = Math.min(Math.max(raw, 10), maxAllowed);
+            const referencePriceDelta = Math.sign(fullOffsetDelta) * magnitude;
+            referencePriceOffset = amm.referencePriceOffset + referencePriceDelta;
+            if (referencePriceDelta < 0) {
+                longSpread += Math.abs(referencePriceDelta);
+                shortSpread += Math.abs(referencePriceOffset);
+            }
+            else {
+                shortSpread += Math.abs(referencePriceDelta);
+                longSpread += Math.abs(referencePriceOffset);
+            }
+        }
+    }
     const askReserves = calculateSpreadReserve(longSpread + referencePriceOffset, types_1.PositionDirection.LONG, amm);
     const bidReserves = calculateSpreadReserve(-shortSpread + referencePriceOffset, types_1.PositionDirection.SHORT, amm);
     return [bidReserves, askReserves];
@@ -591,7 +615,7 @@ function calculateTerminalPrice(market) {
     return terminalPrice;
 }
 exports.calculateTerminalPrice = calculateTerminalPrice;
-function calculateMaxBaseAssetAmountToTrade(amm, limit_price, direction, oraclePriceData, now, isPrediction = false) {
+function calculateMaxBaseAssetAmountToTrade(amm, limit_price, direction, mmOraclePriceData, now, isPrediction = false) {
     const invariant = amm.sqrtK.mul(amm.sqrtK);
     const newBaseAssetReserveSquared = invariant
         .mul(numericConstants_1.PRICE_PRECISION)
@@ -599,7 +623,7 @@ function calculateMaxBaseAssetAmountToTrade(amm, limit_price, direction, oracleP
         .div(limit_price)
         .div(numericConstants_1.PEG_PRECISION);
     const newBaseAssetReserve = (0, __1.squareRootBN)(newBaseAssetReserveSquared);
-    const [shortSpreadReserves, longSpreadReserves] = calculateSpreadReserves(amm, oraclePriceData, now, isPrediction);
+    const [shortSpreadReserves, longSpreadReserves] = calculateSpreadReserves(amm, mmOraclePriceData, now, isPrediction);
     const baseAssetReserveBefore = (0, types_1.isVariant)(direction, 'long')
         ? longSpreadReserves.baseAssetReserve
         : shortSpreadReserves.baseAssetReserve;

package/lib/browser/math/funding.d.ts

@@ -1,7 +1,7 @@
 /// <reference types="bn.js" />
 import { BN } from '@coral-xyz/anchor';
 import { PerpMarketAccount } from '../types';
-import { OraclePriceData } from '../oracles/types';
+import { MMOraclePriceData } from '../oracles/types';
 /**
  *
  * @param market
@@ -9,12 +9,12 @@ import { OraclePriceData } from '../oracles/types';
  * @param periodAdjustment
  * @returns Estimated funding rate. : Precision //TODO-PRECISION
  */
-export declare function calculateAllEstimatedFundingRate(market: PerpMarketAccount, oraclePriceData?: OraclePriceData, markPrice?: BN, now?: BN): [BN, BN, BN, BN, BN];
+export declare function calculateAllEstimatedFundingRate(market: PerpMarketAccount, mmOraclePriceData?: MMOraclePriceData, markPrice?: BN, now?: BN): [BN, BN, BN, BN, BN];
 /**
  * Calculate funding rates in human-readable form. Values will have some lost precision and shouldn't be used in strict accounting.
  * @param period : 'hour' | 'year' :: Use 'hour' for the hourly payment as a percentage, 'year' for the payment as an estimated APR.
  */
-export declare function calculateFormattedLiveFundingRate(market: PerpMarketAccount, oraclePriceData: OraclePriceData, period: 'hour' | 'year'): {
+export declare function calculateFormattedLiveFundingRate(market: PerpMarketAccount, mmOraclePriceData: MMOraclePriceData, period: 'hour' | 'year'): {
     longRate: number;
     shortRate: number;
     fundingRateUnit: string;
@@ -27,7 +27,7 @@ export declare function calculateFormattedLiveFundingRate(market: PerpMarketAcco
  * @param periodAdjustment
  * @returns Estimated funding rate. : Precision //TODO-PRECISION
  */
-export declare function calculateLongShortFundingRate(market: PerpMarketAccount, oraclePriceData?: OraclePriceData, markPrice?: BN, now?: BN): [BN, BN];
+export declare function calculateLongShortFundingRate(market: PerpMarketAccount, mmOraclePriceData?: MMOraclePriceData, markPrice?: BN, now?: BN): [BN, BN];
 /**
  *
  * @param market
@@ -35,7 +35,7 @@ export declare function calculateLongShortFundingRate(market: PerpMarketAccount,
  * @param periodAdjustment
  * @returns Estimated funding rate. : Precision //TODO-PRECISION
  */
-export declare function calculateLongShortFundingRateAndLiveTwaps(market: PerpMarketAccount, oraclePriceData?: OraclePriceData, markPrice?: BN, now?: BN): [BN, BN, BN, BN];
+export declare function calculateLongShortFundingRateAndLiveTwaps(market: PerpMarketAccount, mmOraclePriceData?: MMOraclePriceData, markPrice?: BN, now?: BN): [BN, BN, BN, BN];
 /**
  *
  * @param market