@drift-labs/sdk 2.143.0-beta.6 → 2.143.0-beta.8

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Files changed (16) hide show
  1. package/VERSION +1 -1
  2. package/lib/browser/constants/spotMarkets.js +3 -2
  3. package/lib/browser/math/margin.d.ts +2 -1
  4. package/lib/browser/math/margin.js +31 -3
  5. package/lib/browser/math/market.js +38 -18
  6. package/lib/node/constants/spotMarkets.d.ts.map +1 -1
  7. package/lib/node/constants/spotMarkets.js +3 -2
  8. package/lib/node/math/margin.d.ts +2 -1
  9. package/lib/node/math/margin.d.ts.map +1 -1
  10. package/lib/node/math/margin.js +31 -3
  11. package/lib/node/math/market.d.ts.map +1 -1
  12. package/lib/node/math/market.js +38 -18
  13. package/package.json +1 -1
  14. package/src/constants/spotMarkets.ts +3 -2
  15. package/src/math/margin.ts +44 -5
  16. package/src/math/market.ts +61 -31
package/VERSION CHANGED
@@ -1 +1 @@
1
- 2.143.0-beta.6
1
+ 2.143.0-beta.8
package/lib/browser/constants/spotMarkets.js CHANGED
@@ -374,13 +374,14 @@ exports.MainnetSpotMarkets = [
374
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  symbol: 'JLP',
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  marketIndex: 19,
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  poolId: 0,
377
- oracle: new web3_js_1.PublicKey('5Mb11e5rt1Sp6A286B145E4TmgMzsM2UX9nCF2vas5bs'),
378
- oracleSource: types_1.OracleSource.PYTH_PULL,
377
+ oracle: new web3_js_1.PublicKey('4VMtKepA6iFwMTJ7bBbdcGxavNRKiDjxxRr1CaB2NnFJ'),
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+ oracleSource: types_1.OracleSource.PYTH_LAZER,
379
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  mint: new web3_js_1.PublicKey('27G8MtK7VtTcCHkpASjSDdkWWYfoqT6ggEuKidVJidD4'),
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  precision: new anchor_1.BN(10).pow(numericConstants_1.SIX),
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  precisionExp: numericConstants_1.SIX,
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  launchTs: 1719415157000,
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  pythFeedId: '0xc811abc82b4bad1f9bd711a2773ccaa935b03ecef974236942cec5e0eb845a3a',
384
+ pythLazerId: 459,
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  },
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  {
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  symbol: 'POPCAT',
package/lib/browser/math/margin.d.ts CHANGED
@@ -5,7 +5,7 @@ import { DriftClient } from '../driftClient';
5
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  import { PerpMarketAccount, PerpPosition, PositionDirection, UserAccount } from '../types';
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  import { PublicKey } from '@solana/web3.js';
7
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  export declare function calculateSizePremiumLiabilityWeight(size: BN, // AMM_RESERVE_PRECISION
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- imfFactor: BN, liabilityWeight: BN, precision: BN): BN;
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+ imfFactor: BN, liabilityWeight: BN, precision: BN, isBounded?: boolean): BN;
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  export declare function calculateSizeDiscountAssetWeight(size: BN, // AMM_RESERVE_PRECISION
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  imfFactor: BN, assetWeight: BN): BN;
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  export declare function calculateOraclePriceForPerpMargin(perpPosition: PerpPosition, market: PerpMarketAccount, oraclePriceData: OraclePriceData): BN;
@@ -43,3 +43,4 @@ export declare function calculateUserMaxPerpOrderSize(driftClient: DriftClient,
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  tradeSize: BN;
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  oppositeSideTradeSize: BN;
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  };
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+ export declare function calcHighLeverageModeInitialMarginRatioFromSize(preSizeAdjMarginRatio: BN, sizeAdjMarginRatio: BN, defaultMarginRatio: BN): BN;
package/lib/browser/math/margin.js CHANGED
@@ -1,6 +1,6 @@
1
1
  "use strict";
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  Object.defineProperty(exports, "__esModule", { value: true });
3
- exports.calculateUserMaxPerpOrderSize = exports.calculateLiquidationPrice = exports.calculateCollateralValueOfDeposit = exports.calculateCollateralDepositRequiredForTrade = exports.calculateMarginUSDCRequiredForTrade = exports.calculatePerpLiabilityValue = exports.calculateWorstCasePerpLiabilityValue = exports.calculateWorstCaseBaseAssetAmount = exports.calculateBaseAssetValueWithOracle = exports.calculateOraclePriceForPerpMargin = exports.calculateSizeDiscountAssetWeight = exports.calculateSizePremiumLiabilityWeight = void 0;
3
+ exports.calcHighLeverageModeInitialMarginRatioFromSize = exports.calculateUserMaxPerpOrderSize = exports.calculateLiquidationPrice = exports.calculateCollateralValueOfDeposit = exports.calculateCollateralDepositRequiredForTrade = exports.calculateMarginUSDCRequiredForTrade = exports.calculatePerpLiabilityValue = exports.calculateWorstCasePerpLiabilityValue = exports.calculateWorstCaseBaseAssetAmount = exports.calculateBaseAssetValueWithOracle = exports.calculateOraclePriceForPerpMargin = exports.calculateSizeDiscountAssetWeight = exports.calculateSizePremiumLiabilityWeight = void 0;
4
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  const utils_1 = require("./utils");
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  const numericConstants_1 = require("../constants/numericConstants");
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  const anchor_1 = require("@coral-xyz/anchor");
@@ -11,7 +11,7 @@ const user_1 = require("../user");
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  const types_1 = require("../types");
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  const assert_1 = require("../assert/assert");
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  function calculateSizePremiumLiabilityWeight(size, // AMM_RESERVE_PRECISION
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- imfFactor, liabilityWeight, precision) {
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+ imfFactor, liabilityWeight, precision, isBounded = true) {
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  if (imfFactor.eq(numericConstants_1.ZERO)) {
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  return liabilityWeight;
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  }
@@ -23,7 +23,13 @@ imfFactor, liabilityWeight, precision) {
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  .mul(imfFactor)
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  .div(denom) // 1e5
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  );
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- const maxLiabilityWeight = anchor_1.BN.max(liabilityWeight, sizePremiumLiabilityWeight);
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+ let maxLiabilityWeight;
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+ if (isBounded) {
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+ maxLiabilityWeight = anchor_1.BN.max(liabilityWeight, sizePremiumLiabilityWeight);
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+ }
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+ else {
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+ maxLiabilityWeight = sizePremiumLiabilityWeight;
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+ }
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  return maxLiabilityWeight;
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  }
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  exports.calculateSizePremiumLiabilityWeight = calculateSizePremiumLiabilityWeight;
@@ -199,3 +205,25 @@ function calculateUserMaxPerpOrderSize(driftClient, userAccountKey, userAccount,
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  return user.getMaxTradeSizeUSDCForPerp(targetMarketIndex, tradeSide);
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  }
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  exports.calculateUserMaxPerpOrderSize = calculateUserMaxPerpOrderSize;
208
+ function calcHighLeverageModeInitialMarginRatioFromSize(preSizeAdjMarginRatio, sizeAdjMarginRatio, defaultMarginRatio) {
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+ let result;
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+ if (sizeAdjMarginRatio.lt(preSizeAdjMarginRatio)) {
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+ const sizePctDiscountFactor = numericConstants_1.PERCENTAGE_PRECISION.sub(preSizeAdjMarginRatio
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+ .sub(sizeAdjMarginRatio)
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+ .mul(numericConstants_1.PERCENTAGE_PRECISION)
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+ .div(preSizeAdjMarginRatio.div(new anchor_1.BN(5))));
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+ const hlmMarginDelta = anchor_1.BN.max(preSizeAdjMarginRatio.sub(defaultMarginRatio), new anchor_1.BN(1));
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+ const hlmMarginDeltaProportion = hlmMarginDelta
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+ .mul(sizePctDiscountFactor)
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+ .div(numericConstants_1.PERCENTAGE_PRECISION);
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+ result = hlmMarginDeltaProportion.add(defaultMarginRatio);
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+ }
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+ else if (sizeAdjMarginRatio.eq(preSizeAdjMarginRatio)) {
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+ result = defaultMarginRatio;
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+ }
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+ else {
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+ result = sizeAdjMarginRatio;
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+ }
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+ return result;
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+ }
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+ exports.calcHighLeverageModeInitialMarginRatioFromSize = calcHighLeverageModeInitialMarginRatioFromSize;
package/lib/browser/math/market.js CHANGED
@@ -61,29 +61,49 @@ function calculateOracleSpread(price, oraclePriceData) {
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  }
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  exports.calculateOracleSpread = calculateOracleSpread;
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  function calculateMarketMarginRatio(market, size, marginCategory, customMarginRatio = 0, userHighLeverageMode = false) {
64
- let marginRationInitial;
65
- let marginRatioMaintenance;
66
- if (userHighLeverageMode &&
64
+ if (market.status === 'Settlement')
65
+ return 0;
66
+ const isHighLeverageUser = userHighLeverageMode &&
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67
  market.highLeverageMarginRatioInitial > 0 &&
68
- market.highLeverageMarginRatioMaintenance) {
69
- marginRationInitial = market.highLeverageMarginRatioInitial;
70
- marginRatioMaintenance = market.highLeverageMarginRatioMaintenance;
71
- }
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- else {
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- marginRationInitial = market.marginRatioInitial;
74
- marginRatioMaintenance = market.marginRatioMaintenance;
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- }
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- let marginRatio;
68
+ market.highLeverageMarginRatioMaintenance > 0;
69
+ const marginRatioInitial = isHighLeverageUser
70
+ ? market.highLeverageMarginRatioInitial
71
+ : market.marginRatioInitial;
72
+ const marginRatioMaintenance = isHighLeverageUser
73
+ ? market.highLeverageMarginRatioMaintenance
74
+ : market.marginRatioMaintenance;
75
+ let defaultMarginRatio;
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  switch (marginCategory) {
78
- case 'Initial': {
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- // use lowest leverage between max allowed and optional user custom max
80
- marginRatio = Math.max((0, margin_1.calculateSizePremiumLiabilityWeight)(size, new anchor_1.BN(market.imfFactor), new anchor_1.BN(marginRationInitial), numericConstants_1.MARGIN_PRECISION).toNumber(), customMarginRatio);
77
+ case 'Initial':
78
+ defaultMarginRatio = marginRatioInitial;
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79
  break;
82
- }
83
- case 'Maintenance': {
84
- marginRatio = (0, margin_1.calculateSizePremiumLiabilityWeight)(size, new anchor_1.BN(market.imfFactor), new anchor_1.BN(marginRatioMaintenance), numericConstants_1.MARGIN_PRECISION).toNumber();
80
+ case 'Maintenance':
81
+ defaultMarginRatio = marginRatioMaintenance;
85
82
  break;
83
+ default:
84
+ throw new Error('Invalid margin category');
85
+ }
86
+ let marginRatio;
87
+ if (isHighLeverageUser && marginCategory !== 'Maintenance') {
88
+ // Use ordinary-mode initial/fill ratios for size-adjusted calc
89
+ let preSizeAdjMarginRatio;
90
+ switch (marginCategory) {
91
+ case 'Initial':
92
+ preSizeAdjMarginRatio = market.marginRatioInitial;
93
+ break;
94
+ default:
95
+ preSizeAdjMarginRatio = marginRatioMaintenance;
96
+ break;
86
97
  }
98
+ const sizeAdjMarginRatio = (0, margin_1.calculateSizePremiumLiabilityWeight)(size, new anchor_1.BN(market.imfFactor), new anchor_1.BN(preSizeAdjMarginRatio), numericConstants_1.MARGIN_PRECISION, false).toNumber();
99
+ marginRatio = (0, margin_1.calcHighLeverageModeInitialMarginRatioFromSize)(new anchor_1.BN(preSizeAdjMarginRatio), new anchor_1.BN(sizeAdjMarginRatio), new anchor_1.BN(defaultMarginRatio)).toNumber();
100
+ }
101
+ else {
102
+ const sizeAdjMarginRatio = (0, margin_1.calculateSizePremiumLiabilityWeight)(size, new anchor_1.BN(market.imfFactor), new anchor_1.BN(defaultMarginRatio), numericConstants_1.MARGIN_PRECISION, true).toNumber();
103
+ marginRatio = Math.max(defaultMarginRatio, sizeAdjMarginRatio);
104
+ }
105
+ if (marginCategory === 'Initial') {
106
+ marginRatio = Math.max(marginRatio, customMarginRatio);
87
107
  }
88
108
  return marginRatio;
89
109
  }
package/lib/node/constants/spotMarkets.d.ts.map CHANGED
@@ -1 +1 @@
1
- {"version":3,"file":"spotMarkets.d.ts","sourceRoot":"","sources":["../../../src/constants/spotMarkets.ts"],"names":[],"mappings":";AAAA,OAAO,EAAE,SAAS,EAAE,MAAM,iBAAiB,CAAC;AAW5C,OAAO,EAAE,YAAY,EAAE,MAAM,UAAU,CAAC;AACxC,OAAO,EAAE,EAAE,EAAE,MAAM,mBAAmB,CAAC;AACvC,OAAO,EAAE,QAAQ,EAAE,MAAM,WAAW,CAAC;AAErC,MAAM,MAAM,gBAAgB,GAAG;IAC9B,MAAM,EAAE,MAAM,CAAC;IACf,WAAW,EAAE,MAAM,CAAC;IACpB,MAAM,EAAE,MAAM,CAAC;IACf,MAAM,EAAE,SAAS,CAAC;IAClB,IAAI,EAAE,SAAS,CAAC;IAChB,YAAY,EAAE,YAAY,CAAC;IAC3B,SAAS,EAAE,EAAE,CAAC;IACd,YAAY,EAAE,EAAE,CAAC;IACjB,WAAW,CAAC,EAAE,SAAS,CAAC;IACxB,aAAa,CAAC,EAAE,SAAS,CAAC;IAC1B,cAAc,CAAC,EAAE,SAAS,CAAC;IAC3B,QAAQ,CAAC,EAAE,MAAM,CAAC;IAClB,UAAU,CAAC,EAAE,MAAM,CAAC;IACpB,WAAW,CAAC,EAAE,MAAM,CAAC;CACrB,CAAC;AAEF,eAAO,MAAM,gBAAgB,WAE5B,CAAC;AAEF,eAAO,MAAM,iBAAiB,EAAE,gBAAgB,EAuH/C,CAAC;AAEF,eAAO,MAAM,kBAAkB,EAAE,gBAAgB,EAizBhD,CAAC;AAEF,eAAO,MAAM,WAAW,EAAE;KAAG,GAAG,IAAI,QAAQ,GAAG,gBAAgB,EAAE;CAGhE,CAAC"}
1
+ {"version":3,"file":"spotMarkets.d.ts","sourceRoot":"","sources":["../../../src/constants/spotMarkets.ts"],"names":[],"mappings":";AAAA,OAAO,EAAE,SAAS,EAAE,MAAM,iBAAiB,CAAC;AAW5C,OAAO,EAAE,YAAY,EAAE,MAAM,UAAU,CAAC;AACxC,OAAO,EAAE,EAAE,EAAE,MAAM,mBAAmB,CAAC;AACvC,OAAO,EAAE,QAAQ,EAAE,MAAM,WAAW,CAAC;AAErC,MAAM,MAAM,gBAAgB,GAAG;IAC9B,MAAM,EAAE,MAAM,CAAC;IACf,WAAW,EAAE,MAAM,CAAC;IACpB,MAAM,EAAE,MAAM,CAAC;IACf,MAAM,EAAE,SAAS,CAAC;IAClB,IAAI,EAAE,SAAS,CAAC;IAChB,YAAY,EAAE,YAAY,CAAC;IAC3B,SAAS,EAAE,EAAE,CAAC;IACd,YAAY,EAAE,EAAE,CAAC;IACjB,WAAW,CAAC,EAAE,SAAS,CAAC;IACxB,aAAa,CAAC,EAAE,SAAS,CAAC;IAC1B,cAAc,CAAC,EAAE,SAAS,CAAC;IAC3B,QAAQ,CAAC,EAAE,MAAM,CAAC;IAClB,UAAU,CAAC,EAAE,MAAM,CAAC;IACpB,WAAW,CAAC,EAAE,MAAM,CAAC;CACrB,CAAC;AAEF,eAAO,MAAM,gBAAgB,WAE5B,CAAC;AAEF,eAAO,MAAM,iBAAiB,EAAE,gBAAgB,EAuH/C,CAAC;AAEF,eAAO,MAAM,kBAAkB,EAAE,gBAAgB,EAkzBhD,CAAC;AAEF,eAAO,MAAM,WAAW,EAAE;KAAG,GAAG,IAAI,QAAQ,GAAG,gBAAgB,EAAE;CAGhE,CAAC"}
package/lib/node/constants/spotMarkets.js CHANGED
@@ -374,13 +374,14 @@ exports.MainnetSpotMarkets = [
374
374
  symbol: 'JLP',
375
375
  marketIndex: 19,
376
376
  poolId: 0,
377
- oracle: new web3_js_1.PublicKey('5Mb11e5rt1Sp6A286B145E4TmgMzsM2UX9nCF2vas5bs'),
378
- oracleSource: types_1.OracleSource.PYTH_PULL,
377
+ oracle: new web3_js_1.PublicKey('4VMtKepA6iFwMTJ7bBbdcGxavNRKiDjxxRr1CaB2NnFJ'),
378
+ oracleSource: types_1.OracleSource.PYTH_LAZER,
379
379
  mint: new web3_js_1.PublicKey('27G8MtK7VtTcCHkpASjSDdkWWYfoqT6ggEuKidVJidD4'),
380
380
  precision: new anchor_1.BN(10).pow(numericConstants_1.SIX),
381
381
  precisionExp: numericConstants_1.SIX,
382
382
  launchTs: 1719415157000,
383
383
  pythFeedId: '0xc811abc82b4bad1f9bd711a2773ccaa935b03ecef974236942cec5e0eb845a3a',
384
+ pythLazerId: 459,
384
385
  },
385
386
  {
386
387
  symbol: 'POPCAT',
package/lib/node/math/margin.d.ts CHANGED
@@ -5,7 +5,7 @@ import { DriftClient } from '../driftClient';
5
5
  import { PerpMarketAccount, PerpPosition, PositionDirection, UserAccount } from '../types';
6
6
  import { PublicKey } from '@solana/web3.js';
7
7
  export declare function calculateSizePremiumLiabilityWeight(size: BN, // AMM_RESERVE_PRECISION
8
- imfFactor: BN, liabilityWeight: BN, precision: BN): BN;
8
+ imfFactor: BN, liabilityWeight: BN, precision: BN, isBounded?: boolean): BN;
9
9
  export declare function calculateSizeDiscountAssetWeight(size: BN, // AMM_RESERVE_PRECISION
10
10
  imfFactor: BN, assetWeight: BN): BN;
11
11
  export declare function calculateOraclePriceForPerpMargin(perpPosition: PerpPosition, market: PerpMarketAccount, oraclePriceData: OraclePriceData): BN;
@@ -43,4 +43,5 @@ export declare function calculateUserMaxPerpOrderSize(driftClient: DriftClient,
43
43
  tradeSize: BN;
44
44
  oppositeSideTradeSize: BN;
45
45
  };
46
+ export declare function calcHighLeverageModeInitialMarginRatioFromSize(preSizeAdjMarginRatio: BN, sizeAdjMarginRatio: BN, defaultMarginRatio: BN): BN;
46
47
  //# sourceMappingURL=margin.d.ts.map
package/lib/node/math/margin.d.ts.map CHANGED
@@ -1 +1 @@
1
- {"version":3,"file":"margin.d.ts","sourceRoot":"","sources":["../../../src/math/margin.ts"],"names":[],"mappings":";AAaA,OAAO,EAAE,EAAE,EAAE,MAAM,mBAAmB,CAAC;AACvC,OAAO,EAAE,eAAe,EAAE,MAAM,kBAAkB,CAAC;AAGnD,OAAO,EAAE,WAAW,EAAE,MAAM,gBAAgB,CAAC;AAE7C,OAAO,EACN,iBAAiB,EACjB,YAAY,EACZ,iBAAiB,EACjB,WAAW,EACX,MAAM,UAAU,CAAC;AAClB,OAAO,EAAE,SAAS,EAAE,MAAM,iBAAiB,CAAC;AAK5C,wBAAgB,mCAAmC,CAClD,IAAI,EAAE,EAAE,EAAE,wBAAwB;AAClC,SAAS,EAAE,EAAE,EACb,eAAe,EAAE,EAAE,EACnB,SAAS,EAAE,EAAE,GACX,EAAE,CAyBJ;AAED,wBAAgB,gCAAgC,CAC/C,IAAI,EAAE,EAAE,EAAE,wBAAwB;AAClC,SAAS,EAAE,EAAE,EACb,WAAW,EAAE,EAAE,GACb,EAAE,CAuBJ;AAED,wBAAgB,iCAAiC,CAChD,YAAY,EAAE,YAAY,EAC1B,MAAM,EAAE,iBAAiB,EACzB,eAAe,EAAE,eAAe,GAC9B,EAAE,CAoBJ;AAED;;;;;;;GAOG;AACH,wBAAgB,iCAAiC,CAChD,MAAM,EAAE,iBAAiB,EACzB,YAAY,EAAE,YAAY,EAC1B,eAAe,EAAE,IAAI,CAAC,eAAe,EAAE,OAAO,CAAC,EAC/C,iBAAiB,UAAQ,GACvB,EAAE,CAeJ;AAED,wBAAgB,iCAAiC,CAChD,YAAY,EAAE,YAAY,EAC1B,UAAU,EAAE,iBAAiB,EAC7B,WAAW,EAAE,EAAE,GACb,EAAE,CAMJ;AAED,wBAAgB,oCAAoC,CACnD,YAAY,EAAE,YAAY,EAC1B,UAAU,EAAE,iBAAiB,EAC7B,WAAW,EAAE,EAAE,GACb;IAAE,wBAAwB,EAAE,EAAE,CAAC;IAAC,uBAAuB,EAAE,EAAE,CAAA;CAAE,CA2B/D;AAED,wBAAgB,2BAA2B,CAC1C,eAAe,EAAE,EAAE,EACnB,KAAK,EAAE,EAAE,EACT,kBAAkB,EAAE,OAAO,GACzB,EAAE,CAaJ;AAED;;;;;GAKG;AACH,wBAAgB,mCAAmC,CAClD,WAAW,EAAE,WAAW,EACxB,iBAAiB,EAAE,MAAM,EACzB,QAAQ,EAAE,EAAE,EACZ,kBAAkB,CAAC,EAAE,MAAM,EAC3B,oBAAoB,CAAC,EAAE,OAAO,EAC9B,UAAU,CAAC,EAAE,EAAE,GACb,EAAE,CA0BJ;AAED;;;;GAIG;AACH,wBAAgB,0CAA0C,CACzD,WAAW,EAAE,WAAW,EACxB,iBAAiB,EAAE,MAAM,EACzB,QAAQ,EAAE,EAAE,EACZ,eAAe,EAAE,MAAM,EACvB,kBAAkB,CAAC,EAAE,MAAM,EAC3B,oBAAoB,CAAC,EAAE,OAAO,EAC9B,aAAa,CAAC,EAAE,EAAE,GAChB,EAAE,CAgCJ;AAED,wBAAgB,iCAAiC,CAChD,WAAW,EAAE,WAAW,EACxB,eAAe,EAAE,MAAM,EACvB,QAAQ,EAAE,EAAE,GACV,EAAE,CAuBJ;AAED,wBAAgB,yBAAyB,CACxC,cAAc,EAAE,EAAE,EAClB,mBAAmB,EAAE,EAAE,EACvB,WAAW,EAAE,EAAE,GACb,EAAE,CAYJ;AAED,wBAAgB,6BAA6B,CAC5C,WAAW,EAAE,WAAW,EACxB,cAAc,EAAE,SAAS,EACzB,WAAW,EAAE,WAAW,EACxB,iBAAiB,EAAE,MAAM,EACzB,SAAS,EAAE,iBAAiB,GAC1B;IAAE,SAAS,EAAE,EAAE,CAAC;IAAC,qBAAqB,EAAE,EAAE,CAAA;CAAE,CAmB9C"}
1
+ {"version":3,"file":"margin.d.ts","sourceRoot":"","sources":["../../../src/math/margin.ts"],"names":[],"mappings":";AAcA,OAAO,EAAE,EAAE,EAAE,MAAM,mBAAmB,CAAC;AACvC,OAAO,EAAE,eAAe,EAAE,MAAM,kBAAkB,CAAC;AAGnD,OAAO,EAAE,WAAW,EAAE,MAAM,gBAAgB,CAAC;AAE7C,OAAO,EACN,iBAAiB,EACjB,YAAY,EACZ,iBAAiB,EACjB,WAAW,EACX,MAAM,UAAU,CAAC;AAClB,OAAO,EAAE,SAAS,EAAE,MAAM,iBAAiB,CAAC;AAK5C,wBAAgB,mCAAmC,CAClD,IAAI,EAAE,EAAE,EAAE,wBAAwB;AAClC,SAAS,EAAE,EAAE,EACb,eAAe,EAAE,EAAE,EACnB,SAAS,EAAE,EAAE,EACb,SAAS,UAAO,GACd,EAAE,CA4BJ;AAED,wBAAgB,gCAAgC,CAC/C,IAAI,EAAE,EAAE,EAAE,wBAAwB;AAClC,SAAS,EAAE,EAAE,EACb,WAAW,EAAE,EAAE,GACb,EAAE,CAuBJ;AAED,wBAAgB,iCAAiC,CAChD,YAAY,EAAE,YAAY,EAC1B,MAAM,EAAE,iBAAiB,EACzB,eAAe,EAAE,eAAe,GAC9B,EAAE,CAoBJ;AAED;;;;;;;GAOG;AACH,wBAAgB,iCAAiC,CAChD,MAAM,EAAE,iBAAiB,EACzB,YAAY,EAAE,YAAY,EAC1B,eAAe,EAAE,IAAI,CAAC,eAAe,EAAE,OAAO,CAAC,EAC/C,iBAAiB,UAAQ,GACvB,EAAE,CAeJ;AAED,wBAAgB,iCAAiC,CAChD,YAAY,EAAE,YAAY,EAC1B,UAAU,EAAE,iBAAiB,EAC7B,WAAW,EAAE,EAAE,GACb,EAAE,CAMJ;AAED,wBAAgB,oCAAoC,CACnD,YAAY,EAAE,YAAY,EAC1B,UAAU,EAAE,iBAAiB,EAC7B,WAAW,EAAE,EAAE,GACb;IAAE,wBAAwB,EAAE,EAAE,CAAC;IAAC,uBAAuB,EAAE,EAAE,CAAA;CAAE,CA2B/D;AAED,wBAAgB,2BAA2B,CAC1C,eAAe,EAAE,EAAE,EACnB,KAAK,EAAE,EAAE,EACT,kBAAkB,EAAE,OAAO,GACzB,EAAE,CAaJ;AAED;;;;;GAKG;AACH,wBAAgB,mCAAmC,CAClD,WAAW,EAAE,WAAW,EACxB,iBAAiB,EAAE,MAAM,EACzB,QAAQ,EAAE,EAAE,EACZ,kBAAkB,CAAC,EAAE,MAAM,EAC3B,oBAAoB,CAAC,EAAE,OAAO,EAC9B,UAAU,CAAC,EAAE,EAAE,GACb,EAAE,CA0BJ;AAED;;;;GAIG;AACH,wBAAgB,0CAA0C,CACzD,WAAW,EAAE,WAAW,EACxB,iBAAiB,EAAE,MAAM,EACzB,QAAQ,EAAE,EAAE,EACZ,eAAe,EAAE,MAAM,EACvB,kBAAkB,CAAC,EAAE,MAAM,EAC3B,oBAAoB,CAAC,EAAE,OAAO,EAC9B,aAAa,CAAC,EAAE,EAAE,GAChB,EAAE,CAgCJ;AAED,wBAAgB,iCAAiC,CAChD,WAAW,EAAE,WAAW,EACxB,eAAe,EAAE,MAAM,EACvB,QAAQ,EAAE,EAAE,GACV,EAAE,CAuBJ;AAED,wBAAgB,yBAAyB,CACxC,cAAc,EAAE,EAAE,EAClB,mBAAmB,EAAE,EAAE,EACvB,WAAW,EAAE,EAAE,GACb,EAAE,CAYJ;AAED,wBAAgB,6BAA6B,CAC5C,WAAW,EAAE,WAAW,EACxB,cAAc,EAAE,SAAS,EACzB,WAAW,EAAE,WAAW,EACxB,iBAAiB,EAAE,MAAM,EACzB,SAAS,EAAE,iBAAiB,GAC1B;IAAE,SAAS,EAAE,EAAE,CAAC;IAAC,qBAAqB,EAAE,EAAE,CAAA;CAAE,CAmB9C;AAED,wBAAgB,8CAA8C,CAC7D,qBAAqB,EAAE,EAAE,EACzB,kBAAkB,EAAE,EAAE,EACtB,kBAAkB,EAAE,EAAE,GACpB,EAAE,CA4BJ"}
package/lib/node/math/margin.js CHANGED
@@ -1,6 +1,6 @@
1
1
  "use strict";
2
2
  Object.defineProperty(exports, "__esModule", { value: true });
3
- exports.calculateUserMaxPerpOrderSize = exports.calculateLiquidationPrice = exports.calculateCollateralValueOfDeposit = exports.calculateCollateralDepositRequiredForTrade = exports.calculateMarginUSDCRequiredForTrade = exports.calculatePerpLiabilityValue = exports.calculateWorstCasePerpLiabilityValue = exports.calculateWorstCaseBaseAssetAmount = exports.calculateBaseAssetValueWithOracle = exports.calculateOraclePriceForPerpMargin = exports.calculateSizeDiscountAssetWeight = exports.calculateSizePremiumLiabilityWeight = void 0;
3
+ exports.calcHighLeverageModeInitialMarginRatioFromSize = exports.calculateUserMaxPerpOrderSize = exports.calculateLiquidationPrice = exports.calculateCollateralValueOfDeposit = exports.calculateCollateralDepositRequiredForTrade = exports.calculateMarginUSDCRequiredForTrade = exports.calculatePerpLiabilityValue = exports.calculateWorstCasePerpLiabilityValue = exports.calculateWorstCaseBaseAssetAmount = exports.calculateBaseAssetValueWithOracle = exports.calculateOraclePriceForPerpMargin = exports.calculateSizeDiscountAssetWeight = exports.calculateSizePremiumLiabilityWeight = void 0;
4
4
  const utils_1 = require("./utils");
5
5
  const numericConstants_1 = require("../constants/numericConstants");
6
6
  const anchor_1 = require("@coral-xyz/anchor");
@@ -11,7 +11,7 @@ const user_1 = require("../user");
11
11
  const types_1 = require("../types");
12
12
  const assert_1 = require("../assert/assert");
13
13
  function calculateSizePremiumLiabilityWeight(size, // AMM_RESERVE_PRECISION
14
- imfFactor, liabilityWeight, precision) {
14
+ imfFactor, liabilityWeight, precision, isBounded = true) {
15
15
  if (imfFactor.eq(numericConstants_1.ZERO)) {
16
16
  return liabilityWeight;
17
17
  }
@@ -23,7 +23,13 @@ imfFactor, liabilityWeight, precision) {
23
23
  .mul(imfFactor)
24
24
  .div(denom) // 1e5
25
25
  );
26
- const maxLiabilityWeight = anchor_1.BN.max(liabilityWeight, sizePremiumLiabilityWeight);
26
+ let maxLiabilityWeight;
27
+ if (isBounded) {
28
+ maxLiabilityWeight = anchor_1.BN.max(liabilityWeight, sizePremiumLiabilityWeight);
29
+ }
30
+ else {
31
+ maxLiabilityWeight = sizePremiumLiabilityWeight;
32
+ }
27
33
  return maxLiabilityWeight;
28
34
  }
29
35
  exports.calculateSizePremiumLiabilityWeight = calculateSizePremiumLiabilityWeight;
@@ -199,3 +205,25 @@ function calculateUserMaxPerpOrderSize(driftClient, userAccountKey, userAccount,
199
205
  return user.getMaxTradeSizeUSDCForPerp(targetMarketIndex, tradeSide);
200
206
  }
201
207
  exports.calculateUserMaxPerpOrderSize = calculateUserMaxPerpOrderSize;
208
+ function calcHighLeverageModeInitialMarginRatioFromSize(preSizeAdjMarginRatio, sizeAdjMarginRatio, defaultMarginRatio) {
209
+ let result;
210
+ if (sizeAdjMarginRatio.lt(preSizeAdjMarginRatio)) {
211
+ const sizePctDiscountFactor = numericConstants_1.PERCENTAGE_PRECISION.sub(preSizeAdjMarginRatio
212
+ .sub(sizeAdjMarginRatio)
213
+ .mul(numericConstants_1.PERCENTAGE_PRECISION)
214
+ .div(preSizeAdjMarginRatio.div(new anchor_1.BN(5))));
215
+ const hlmMarginDelta = anchor_1.BN.max(preSizeAdjMarginRatio.sub(defaultMarginRatio), new anchor_1.BN(1));
216
+ const hlmMarginDeltaProportion = hlmMarginDelta
217
+ .mul(sizePctDiscountFactor)
218
+ .div(numericConstants_1.PERCENTAGE_PRECISION);
219
+ result = hlmMarginDeltaProportion.add(defaultMarginRatio);
220
+ }
221
+ else if (sizeAdjMarginRatio.eq(preSizeAdjMarginRatio)) {
222
+ result = defaultMarginRatio;
223
+ }
224
+ else {
225
+ result = sizeAdjMarginRatio;
226
+ }
227
+ return result;
228
+ }
229
+ exports.calcHighLeverageModeInitialMarginRatioFromSize = calcHighLeverageModeInitialMarginRatioFromSize;
package/lib/node/math/market.d.ts.map CHANGED
@@ -1 +1 @@
1
- {"version":3,"file":"market.d.ts","sourceRoot":"","sources":["../../../src/math/market.ts"],"names":[],"mappings":";AAAA,OAAO,EAAE,EAAE,EAAE,MAAM,mBAAmB,CAAC;AACvC,OAAO,EACN,iBAAiB,EACjB,iBAAiB,EACjB,cAAc,EACd,iBAAiB,EAIjB,MAAM,UAAU,CAAC;AAalB,OAAO,EAAE,iBAAiB,EAAE,eAAe,EAAE,MAAM,kBAAkB,CAAC;AAYtE,OAAO,EAAE,IAAI,EAAE,MAAM,cAAc,CAAC;AAGpC;;;;;GAKG;AACH,wBAAgB,qBAAqB,CACpC,MAAM,EAAE,iBAAiB,EACzB,iBAAiB,EAAE,iBAAiB,GAClC,EAAE,CAOJ;AAED;;;;;GAKG;AACH,wBAAgB,iBAAiB,CAChC,MAAM,EAAE,iBAAiB,EACzB,iBAAiB,EAAE,iBAAiB,EACpC,UAAU,CAAC,EAAE,EAAE,GACb,EAAE,CAWJ;AAED;;;;;GAKG;AACH,wBAAgB,iBAAiB,CAChC,MAAM,EAAE,iBAAiB,EACzB,iBAAiB,EAAE,iBAAiB,EACpC,UAAU,CAAC,EAAE,EAAE,GACb,EAAE,CAWJ;AAED,wBAAgB,4BAA4B,CAC3C,eAAe,EAAE,EAAE,EACnB,SAAS,EAAE,iBAAiB,EAC5B,MAAM,EAAE,iBAAiB,GACvB,iBAAiB,CAgBnB;AAED,wBAAgB,4BAA4B,CAC3C,MAAM,EAAE,iBAAiB,EACzB,iBAAiB,EAAE,iBAAiB,GAClC,EAAE,CAGJ;AAED,wBAAgB,qBAAqB,CACpC,KAAK,EAAE,EAAE,EACT,eAAe,EAAE,eAAe,GAC9B,EAAE,CAEJ;AAED,wBAAgB,0BAA0B,CACzC,MAAM,EAAE,iBAAiB,EACzB,IAAI,EAAE,EAAE,EACR,cAAc,EAAE,cAAc,EAC9B,iBAAiB,SAAI,EACrB,oBAAoB,UAAQ,GAC1B,MAAM,CA2CR;AAED,wBAAgB,8BAA8B,CAC7C,MAAM,EAAE,iBAAiB,EACzB,eAAe,EAAE,iBAAiB,EAClC,aAAa,EAAE,EAAE,EACjB,cAAc,EAAE,cAAc,EAC9B,eAAe,EAAE,IAAI,CAAC,eAAe,EAAE,OAAO,CAAC,GAC7C,EAAE,CA+BJ;AAED,wBAAgB,2BAA2B,CAC1C,UAAU,EAAE,iBAAiB,EAC7B,UAAU,EAAE,iBAAiB,GAC3B,EAAE,CAMJ;AAED,wBAAgB,oCAAoC,CACnD,UAAU,EAAE,iBAAiB,EAC7B,UAAU,EAAE,iBAAiB,GAC3B,EAAE,CAcJ;AAED,wBAAgB,mBAAmB,CAClC,UAAU,EAAE,iBAAiB,EAC7B,eAAe,EAAE,IAAI,CAAC,eAAe,EAAE,OAAO,CAAC,GAC7C,EAAE,CAcJ;AAED,wBAAgB,4BAA4B,CAC3C,UAAU,EAAE,iBAAiB,EAC7B,UAAU,EAAE,iBAAiB,EAC7B,eAAe,EAAE,IAAI,CAAC,eAAe,EAAE,OAAO,CAAC,EAC/C,oBAAoB,UAAO,GACzB,EAAE,CAoBJ;AAED,wBAAgB,+BAA+B,CAC9C,MAAM,EAAE,iBAAiB,EACzB,iBAAiB,EAAE,iBAAiB,EACpC,IAAI,EAAE,IAAI,EACV,IAAI,EAAE,MAAM,GACV;IAAE,IAAI,EAAE,EAAE,CAAC;IAAC,IAAI,EAAE,EAAE,CAAA;CAAE,CAoCxB;AAED,wBAAgB,oCAAoC,CACnD,MAAM,EAAE,iBAAiB,EACzB,oBAAoB,EAAE,OAAO,GAC3B,MAAM,CAWR;AAED;;;;;;;;GAQG;AACH,wBAAgB,eAAe,CAC9B,MAAM,EAAE,iBAAiB,EACzB,WAAW,EAAE,EAAE,EACf,GAAG,EAAE,EAAE,EACP,cAAc,EAAE,OAAO,GACrB,EAAE,CA2BJ"}
1
+ {"version":3,"file":"market.d.ts","sourceRoot":"","sources":["../../../src/math/market.ts"],"names":[],"mappings":";AAAA,OAAO,EAAE,EAAE,EAAE,MAAM,mBAAmB,CAAC;AACvC,OAAO,EACN,iBAAiB,EACjB,iBAAiB,EACjB,cAAc,EACd,iBAAiB,EAIjB,MAAM,UAAU,CAAC;AAclB,OAAO,EAAE,iBAAiB,EAAE,eAAe,EAAE,MAAM,kBAAkB,CAAC;AAYtE,OAAO,EAAE,IAAI,EAAE,MAAM,cAAc,CAAC;AAGpC;;;;;GAKG;AACH,wBAAgB,qBAAqB,CACpC,MAAM,EAAE,iBAAiB,EACzB,iBAAiB,EAAE,iBAAiB,GAClC,EAAE,CAOJ;AAED;;;;;GAKG;AACH,wBAAgB,iBAAiB,CAChC,MAAM,EAAE,iBAAiB,EACzB,iBAAiB,EAAE,iBAAiB,EACpC,UAAU,CAAC,EAAE,EAAE,GACb,EAAE,CAWJ;AAED;;;;;GAKG;AACH,wBAAgB,iBAAiB,CAChC,MAAM,EAAE,iBAAiB,EACzB,iBAAiB,EAAE,iBAAiB,EACpC,UAAU,CAAC,EAAE,EAAE,GACb,EAAE,CAWJ;AAED,wBAAgB,4BAA4B,CAC3C,eAAe,EAAE,EAAE,EACnB,SAAS,EAAE,iBAAiB,EAC5B,MAAM,EAAE,iBAAiB,GACvB,iBAAiB,CAgBnB;AAED,wBAAgB,4BAA4B,CAC3C,MAAM,EAAE,iBAAiB,EACzB,iBAAiB,EAAE,iBAAiB,GAClC,EAAE,CAGJ;AAED,wBAAgB,qBAAqB,CACpC,KAAK,EAAE,EAAE,EACT,eAAe,EAAE,eAAe,GAC9B,EAAE,CAEJ;AAED,wBAAgB,0BAA0B,CACzC,MAAM,EAAE,iBAAiB,EACzB,IAAI,EAAE,EAAE,EACR,cAAc,EAAE,cAAc,EAC9B,iBAAiB,SAAI,EACrB,oBAAoB,UAAQ,GAC1B,MAAM,CAwER;AAED,wBAAgB,8BAA8B,CAC7C,MAAM,EAAE,iBAAiB,EACzB,eAAe,EAAE,iBAAiB,EAClC,aAAa,EAAE,EAAE,EACjB,cAAc,EAAE,cAAc,EAC9B,eAAe,EAAE,IAAI,CAAC,eAAe,EAAE,OAAO,CAAC,GAC7C,EAAE,CA+BJ;AAED,wBAAgB,2BAA2B,CAC1C,UAAU,EAAE,iBAAiB,EAC7B,UAAU,EAAE,iBAAiB,GAC3B,EAAE,CAMJ;AAED,wBAAgB,oCAAoC,CACnD,UAAU,EAAE,iBAAiB,EAC7B,UAAU,EAAE,iBAAiB,GAC3B,EAAE,CAcJ;AAED,wBAAgB,mBAAmB,CAClC,UAAU,EAAE,iBAAiB,EAC7B,eAAe,EAAE,IAAI,CAAC,eAAe,EAAE,OAAO,CAAC,GAC7C,EAAE,CAcJ;AAED,wBAAgB,4BAA4B,CAC3C,UAAU,EAAE,iBAAiB,EAC7B,UAAU,EAAE,iBAAiB,EAC7B,eAAe,EAAE,IAAI,CAAC,eAAe,EAAE,OAAO,CAAC,EAC/C,oBAAoB,UAAO,GACzB,EAAE,CAoBJ;AAED,wBAAgB,+BAA+B,CAC9C,MAAM,EAAE,iBAAiB,EACzB,iBAAiB,EAAE,iBAAiB,EACpC,IAAI,EAAE,IAAI,EACV,IAAI,EAAE,MAAM,GACV;IAAE,IAAI,EAAE,EAAE,CAAC;IAAC,IAAI,EAAE,EAAE,CAAA;CAAE,CAoCxB;AAED,wBAAgB,oCAAoC,CACnD,MAAM,EAAE,iBAAiB,EACzB,oBAAoB,EAAE,OAAO,GAC3B,MAAM,CAWR;AAED;;;;;;;;GAQG;AACH,wBAAgB,eAAe,CAC9B,MAAM,EAAE,iBAAiB,EACzB,WAAW,EAAE,EAAE,EACf,GAAG,EAAE,EAAE,EACP,cAAc,EAAE,OAAO,GACrB,EAAE,CA2BJ"}
package/lib/node/math/market.js CHANGED
@@ -61,29 +61,49 @@ function calculateOracleSpread(price, oraclePriceData) {
61
61
  }
62
62
  exports.calculateOracleSpread = calculateOracleSpread;
63
63
  function calculateMarketMarginRatio(market, size, marginCategory, customMarginRatio = 0, userHighLeverageMode = false) {
64
- let marginRationInitial;
65
- let marginRatioMaintenance;
66
- if (userHighLeverageMode &&
64
+ if (market.status === 'Settlement')
65
+ return 0;
66
+ const isHighLeverageUser = userHighLeverageMode &&
67
67
  market.highLeverageMarginRatioInitial > 0 &&
68
- market.highLeverageMarginRatioMaintenance) {
69
- marginRationInitial = market.highLeverageMarginRatioInitial;
70
- marginRatioMaintenance = market.highLeverageMarginRatioMaintenance;
71
- }
72
- else {
73
- marginRationInitial = market.marginRatioInitial;
74
- marginRatioMaintenance = market.marginRatioMaintenance;
75
- }
76
- let marginRatio;
68
+ market.highLeverageMarginRatioMaintenance > 0;
69
+ const marginRatioInitial = isHighLeverageUser
70
+ ? market.highLeverageMarginRatioInitial
71
+ : market.marginRatioInitial;
72
+ const marginRatioMaintenance = isHighLeverageUser
73
+ ? market.highLeverageMarginRatioMaintenance
74
+ : market.marginRatioMaintenance;
75
+ let defaultMarginRatio;
77
76
  switch (marginCategory) {
78
- case 'Initial': {
79
- // use lowest leverage between max allowed and optional user custom max
80
- marginRatio = Math.max((0, margin_1.calculateSizePremiumLiabilityWeight)(size, new anchor_1.BN(market.imfFactor), new anchor_1.BN(marginRationInitial), numericConstants_1.MARGIN_PRECISION).toNumber(), customMarginRatio);
77
+ case 'Initial':
78
+ defaultMarginRatio = marginRatioInitial;
81
79
  break;
82
- }
83
- case 'Maintenance': {
84
- marginRatio = (0, margin_1.calculateSizePremiumLiabilityWeight)(size, new anchor_1.BN(market.imfFactor), new anchor_1.BN(marginRatioMaintenance), numericConstants_1.MARGIN_PRECISION).toNumber();
80
+ case 'Maintenance':
81
+ defaultMarginRatio = marginRatioMaintenance;
85
82
  break;
83
+ default:
84
+ throw new Error('Invalid margin category');
85
+ }
86
+ let marginRatio;
87
+ if (isHighLeverageUser && marginCategory !== 'Maintenance') {
88
+ // Use ordinary-mode initial/fill ratios for size-adjusted calc
89
+ let preSizeAdjMarginRatio;
90
+ switch (marginCategory) {
91
+ case 'Initial':
92
+ preSizeAdjMarginRatio = market.marginRatioInitial;
93
+ break;
94
+ default:
95
+ preSizeAdjMarginRatio = marginRatioMaintenance;
96
+ break;
86
97
  }
98
+ const sizeAdjMarginRatio = (0, margin_1.calculateSizePremiumLiabilityWeight)(size, new anchor_1.BN(market.imfFactor), new anchor_1.BN(preSizeAdjMarginRatio), numericConstants_1.MARGIN_PRECISION, false).toNumber();
99
+ marginRatio = (0, margin_1.calcHighLeverageModeInitialMarginRatioFromSize)(new anchor_1.BN(preSizeAdjMarginRatio), new anchor_1.BN(sizeAdjMarginRatio), new anchor_1.BN(defaultMarginRatio)).toNumber();
100
+ }
101
+ else {
102
+ const sizeAdjMarginRatio = (0, margin_1.calculateSizePremiumLiabilityWeight)(size, new anchor_1.BN(market.imfFactor), new anchor_1.BN(defaultMarginRatio), numericConstants_1.MARGIN_PRECISION, true).toNumber();
103
+ marginRatio = Math.max(defaultMarginRatio, sizeAdjMarginRatio);
104
+ }
105
+ if (marginCategory === 'Initial') {
106
+ marginRatio = Math.max(marginRatio, customMarginRatio);
87
107
  }
88
108
  return marginRatio;
89
109
  }
package/package.json CHANGED
@@ -1,6 +1,6 @@
1
1
  {
2
2
  "name": "@drift-labs/sdk",
3
- "version": "2.143.0-beta.6",
3
+ "version": "2.143.0-beta.8",
4
4
  "main": "lib/node/index.js",
5
5
  "types": "lib/node/index.d.ts",
6
6
  "module": "./lib/browser/index.js",
package/src/constants/spotMarkets.ts CHANGED
@@ -459,14 +459,15 @@ export const MainnetSpotMarkets: SpotMarketConfig[] = [
459
459
  symbol: 'JLP',
460
460
  marketIndex: 19,
461
461
  poolId: 0,
462
- oracle: new PublicKey('5Mb11e5rt1Sp6A286B145E4TmgMzsM2UX9nCF2vas5bs'),
463
- oracleSource: OracleSource.PYTH_PULL,
462
+ oracle: new PublicKey('4VMtKepA6iFwMTJ7bBbdcGxavNRKiDjxxRr1CaB2NnFJ'),
463
+ oracleSource: OracleSource.PYTH_LAZER,
464
464
  mint: new PublicKey('27G8MtK7VtTcCHkpASjSDdkWWYfoqT6ggEuKidVJidD4'),
465
465
  precision: new BN(10).pow(SIX),
466
466
  precisionExp: SIX,
467
467
  launchTs: 1719415157000,
468
468
  pythFeedId:
469
469
  '0xc811abc82b4bad1f9bd711a2773ccaa935b03ecef974236942cec5e0eb845a3a',
470
+ pythLazerId: 459,
470
471
  },
471
472
  {
472
473
  symbol: 'POPCAT',
package/src/math/margin.ts CHANGED
@@ -10,6 +10,7 @@ import {
10
10
  MARGIN_PRECISION,
11
11
  PRICE_PRECISION,
12
12
  QUOTE_PRECISION,
13
+ PERCENTAGE_PRECISION,
13
14
  } from '../constants/numericConstants';
14
15
  import { BN } from '@coral-xyz/anchor';
15
16
  import { OraclePriceData } from '../oracles/types';
@@ -32,7 +33,8 @@ export function calculateSizePremiumLiabilityWeight(
32
33
  size: BN, // AMM_RESERVE_PRECISION
33
34
  imfFactor: BN,
34
35
  liabilityWeight: BN,
35
- precision: BN
36
+ precision: BN,
37
+ isBounded = true
36
38
  ): BN {
37
39
  if (imfFactor.eq(ZERO)) {
38
40
  return liabilityWeight;
@@ -53,10 +55,13 @@ export function calculateSizePremiumLiabilityWeight(
53
55
  .div(denom) // 1e5
54
56
  );
55
57
 
56
- const maxLiabilityWeight = BN.max(
57
- liabilityWeight,
58
- sizePremiumLiabilityWeight
59
- );
58
+ let maxLiabilityWeight;
59
+ if (isBounded) {
60
+ maxLiabilityWeight = BN.max(liabilityWeight, sizePremiumLiabilityWeight);
61
+ } else {
62
+ maxLiabilityWeight = sizePremiumLiabilityWeight;
63
+ }
64
+
60
65
  return maxLiabilityWeight;
61
66
  }
62
67
 
@@ -370,3 +375,37 @@ export function calculateUserMaxPerpOrderSize(
370
375
 
371
376
  return user.getMaxTradeSizeUSDCForPerp(targetMarketIndex, tradeSide);
372
377
  }
378
+
379
+ export function calcHighLeverageModeInitialMarginRatioFromSize(
380
+ preSizeAdjMarginRatio: BN,
381
+ sizeAdjMarginRatio: BN,
382
+ defaultMarginRatio: BN
383
+ ): BN {
384
+ let result: BN;
385
+
386
+ if (sizeAdjMarginRatio.lt(preSizeAdjMarginRatio)) {
387
+ const sizePctDiscountFactor = PERCENTAGE_PRECISION.sub(
388
+ preSizeAdjMarginRatio
389
+ .sub(sizeAdjMarginRatio)
390
+ .mul(PERCENTAGE_PRECISION)
391
+ .div(preSizeAdjMarginRatio.div(new BN(5)))
392
+ );
393
+
394
+ const hlmMarginDelta = BN.max(
395
+ preSizeAdjMarginRatio.sub(defaultMarginRatio),
396
+ new BN(1)
397
+ );
398
+
399
+ const hlmMarginDeltaProportion = hlmMarginDelta
400
+ .mul(sizePctDiscountFactor)
401
+ .div(PERCENTAGE_PRECISION);
402
+
403
+ result = hlmMarginDeltaProportion.add(defaultMarginRatio);
404
+ } else if (sizeAdjMarginRatio.eq(preSizeAdjMarginRatio)) {
405
+ result = defaultMarginRatio;
406
+ } else {
407
+ result = sizeAdjMarginRatio;
408
+ }
409
+
410
+ return result;
411
+ }
package/src/math/market.ts CHANGED
@@ -19,6 +19,7 @@ import {
19
19
  import {
20
20
  calculateSizeDiscountAssetWeight,
21
21
  calculateSizePremiumLiabilityWeight,
22
+ calcHighLeverageModeInitialMarginRatioFromSize,
22
23
  } from './margin';
23
24
  import { MMOraclePriceData, OraclePriceData } from '../oracles/types';
24
25
  import {
@@ -143,45 +144,74 @@ export function calculateMarketMarginRatio(
143
144
  customMarginRatio = 0,
144
145
  userHighLeverageMode = false
145
146
  ): number {
146
- let marginRationInitial;
147
- let marginRatioMaintenance;
147
+ if (market.status === 'Settlement') return 0;
148
148
 
149
- if (
149
+ const isHighLeverageUser =
150
150
  userHighLeverageMode &&
151
151
  market.highLeverageMarginRatioInitial > 0 &&
152
- market.highLeverageMarginRatioMaintenance
153
- ) {
154
- marginRationInitial = market.highLeverageMarginRatioInitial;
155
- marginRatioMaintenance = market.highLeverageMarginRatioMaintenance;
156
- } else {
157
- marginRationInitial = market.marginRatioInitial;
158
- marginRatioMaintenance = market.marginRatioMaintenance;
159
- }
152
+ market.highLeverageMarginRatioMaintenance > 0;
153
+
154
+ const marginRatioInitial = isHighLeverageUser
155
+ ? market.highLeverageMarginRatioInitial
156
+ : market.marginRatioInitial;
157
+
158
+ const marginRatioMaintenance = isHighLeverageUser
159
+ ? market.highLeverageMarginRatioMaintenance
160
+ : market.marginRatioMaintenance;
160
161
 
161
- let marginRatio;
162
+ let defaultMarginRatio: number;
162
163
  switch (marginCategory) {
163
- case 'Initial': {
164
- // use lowest leverage between max allowed and optional user custom max
165
- marginRatio = Math.max(
166
- calculateSizePremiumLiabilityWeight(
167
- size,
168
- new BN(market.imfFactor),
169
- new BN(marginRationInitial),
170
- MARGIN_PRECISION
171
- ).toNumber(),
172
- customMarginRatio
173
- );
164
+ case 'Initial':
165
+ defaultMarginRatio = marginRatioInitial;
174
166
  break;
175
- }
176
- case 'Maintenance': {
177
- marginRatio = calculateSizePremiumLiabilityWeight(
178
- size,
179
- new BN(market.imfFactor),
180
- new BN(marginRatioMaintenance),
181
- MARGIN_PRECISION
182
- ).toNumber();
167
+ case 'Maintenance':
168
+ defaultMarginRatio = marginRatioMaintenance;
183
169
  break;
170
+ default:
171
+ throw new Error('Invalid margin category');
172
+ }
173
+
174
+ let marginRatio: number;
175
+
176
+ if (isHighLeverageUser && marginCategory !== 'Maintenance') {
177
+ // Use ordinary-mode initial/fill ratios for size-adjusted calc
178
+ let preSizeAdjMarginRatio: number;
179
+ switch (marginCategory) {
180
+ case 'Initial':
181
+ preSizeAdjMarginRatio = market.marginRatioInitial;
182
+ break;
183
+ default:
184
+ preSizeAdjMarginRatio = marginRatioMaintenance;
185
+ break;
184
186
  }
187
+
188
+ const sizeAdjMarginRatio = calculateSizePremiumLiabilityWeight(
189
+ size,
190
+ new BN(market.imfFactor),
191
+ new BN(preSizeAdjMarginRatio),
192
+ MARGIN_PRECISION,
193
+ false
194
+ ).toNumber();
195
+
196
+ marginRatio = calcHighLeverageModeInitialMarginRatioFromSize(
197
+ new BN(preSizeAdjMarginRatio),
198
+ new BN(sizeAdjMarginRatio),
199
+ new BN(defaultMarginRatio)
200
+ ).toNumber();
201
+ } else {
202
+ const sizeAdjMarginRatio = calculateSizePremiumLiabilityWeight(
203
+ size,
204
+ new BN(market.imfFactor),
205
+ new BN(defaultMarginRatio),
206
+ MARGIN_PRECISION,
207
+ true
208
+ ).toNumber();
209
+
210
+ marginRatio = Math.max(defaultMarginRatio, sizeAdjMarginRatio);
211
+ }
212
+
213
+ if (marginCategory === 'Initial') {
214
+ marginRatio = Math.max(marginRatio, customMarginRatio);
185
215
  }
186
216
 
187
217
  return marginRatio;