@drift-labs/sdk 2.52.0-beta.10 → 2.52.0-beta.12

package/VERSION

@@ -1 +1 @@
-2.52.0-beta.10
+2.52.0-beta.12

package/lib/math/amm.js

@@ -456,12 +456,11 @@ function calculateSpreadReserves(amm, oraclePriceData, now) {
         }
         const quoteAssetReserveDelta = amm.quoteAssetReserve.div(numericConstants_1.BID_ASK_SPREAD_PRECISION.div(spreadFraction));
         let quoteAssetReserve;
-        if ((spread >= 0 && (0, types_1.isVariant)(direction, 'long')) ||
-            (spread <= 0 && (0, types_1.isVariant)(direction, 'short'))) {
-            quoteAssetReserve = amm.quoteAssetReserve.add(quoteAssetReserveDelta);
+        if (quoteAssetReserveDelta.gte(numericConstants_1.ZERO)) {
+            quoteAssetReserve = amm.quoteAssetReserve.add(quoteAssetReserveDelta.abs());
         }
         else {
-            quoteAssetReserve = amm.quoteAssetReserve.sub(quoteAssetReserveDelta);
+            quoteAssetReserve = amm.quoteAssetReserve.sub(quoteAssetReserveDelta.abs());
         }
         const baseAssetReserve = amm.sqrtK.mul(amm.sqrtK).div(quoteAssetReserve);
         return {
@@ -471,12 +470,18 @@ function calculateSpreadReserves(amm, oraclePriceData, now) {
     }
     const reservePrice = calculatePrice(amm.baseAssetReserve, amm.quoteAssetReserve, amm.pegMultiplier);
     // always allow 10 bps of price offset, up to a fifth of the market's max_spread
-    const maxOffset = Math.max(amm.maxSpread / 5, numericConstants_1.PERCENTAGE_PRECISION.toNumber() / 1000);
-    const liquidityFraction = calculateInventoryLiquidityRatio(amm.baseAssetAmountWithAmm, amm.baseAssetReserve, amm.minBaseAssetReserve, amm.maxBaseAssetReserve);
-    const referencePriceOffset = calculateReferencePriceOffset(reservePrice, amm.last24HAvgFundingRate, liquidityFraction, amm.historicalOracleData.lastOraclePriceTwap5Min, amm.lastMarkPriceTwap5Min, amm.historicalOracleData.lastOraclePriceTwap, amm.lastMarkPriceTwap, maxOffset);
+    let maxOffset = 0;
+    let referencePriceOffset = numericConstants_1.ZERO;
+    if (amm.curveUpdateIntensity > 100) {
+        maxOffset = Math.max(amm.maxSpread / 5, (numericConstants_1.PERCENTAGE_PRECISION.toNumber() / 10000) *
+            (amm.curveUpdateIntensity - 100));
+        const liquidityFraction = calculateInventoryLiquidityRatio(amm.baseAssetAmountWithAmm, amm.baseAssetReserve, amm.minBaseAssetReserve, amm.maxBaseAssetReserve);
+        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);
+    }
     const [longSpread, shortSpread] = calculateSpread(amm, oraclePriceData, now, reservePrice);
     const askReserves = calculateSpreadReserve(longSpread + referencePriceOffset.toNumber(), types_1.PositionDirection.LONG, amm);
-    const bidReserves = calculateSpreadReserve(shortSpread + referencePriceOffset.toNumber(), types_1.PositionDirection.SHORT, amm);
+    const bidReserves = calculateSpreadReserve(-shortSpread + referencePriceOffset.toNumber(), types_1.PositionDirection.SHORT, amm);
     return [bidReserves, askReserves];
 }
 exports.calculateSpreadReserves = calculateSpreadReserves;

package/lib/priorityFee/priorityFeeSubscriber.js

@@ -25,16 +25,16 @@ class PriorityFeeSubscriber {
         }
     }
     get avgPriorityFee() {
-        return this.lastAvgStrategyResult;
+        return Math.floor(this.lastAvgStrategyResult);
     }
     get maxPriorityFee() {
-        return this.lastMaxStrategyResult;
+        return Math.floor(this.lastMaxStrategyResult);
     }
     get customPriorityFee() {
         if (!this.customStrategy) {
             console.error('Custom strategy not set');
         }
-        return this.lastCustomStrategyResult;
+        return Math.floor(this.lastCustomStrategyResult);
     }
     async subscribe() {
         if (this.intervalId) {

package/package.json

@@ -1,6 +1,6 @@
 {
 	"name": "@drift-labs/sdk",
-	"version": "2.52.0-beta.10",
+	"version": "2.52.0-beta.12",
 	"main": "lib/index.js",
 	"types": "lib/index.d.ts",
 	"author": "crispheaney",

package/src/math/amm.ts

@@ -863,13 +863,14 @@ export function calculateSpreadReserves(
 		);
 
 		let quoteAssetReserve;
-		if (
-			(spread >= 0 && isVariant(direction, 'long')) ||
-			(spread <= 0 && isVariant(direction, 'short'))
-		) {
-			quoteAssetReserve = amm.quoteAssetReserve.add(quoteAssetReserveDelta);
+		if (quoteAssetReserveDelta.gte(ZERO)) {
+			quoteAssetReserve = amm.quoteAssetReserve.add(
+				quoteAssetReserveDelta.abs()
+			);
 		} else {
-			quoteAssetReserve = amm.quoteAssetReserve.sub(quoteAssetReserveDelta);
+			quoteAssetReserve = amm.quoteAssetReserve.sub(
+				quoteAssetReserveDelta.abs()
+			);
 		}
 
 		const baseAssetReserve = amm.sqrtK.mul(amm.sqrtK).div(quoteAssetReserve);
@@ -886,26 +887,35 @@ export function calculateSpreadReserves(
 	);
 
 	// always allow 10 bps of price offset, up to a fifth of the market's max_spread
-	const maxOffset = Math.max(
-		amm.maxSpread / 5,
-		PERCENTAGE_PRECISION.toNumber() / 1000
-	);
-	const liquidityFraction = calculateInventoryLiquidityRatio(
-		amm.baseAssetAmountWithAmm,
-		amm.baseAssetReserve,
-		amm.minBaseAssetReserve,
-		amm.maxBaseAssetReserve
-	);
-	const referencePriceOffset = calculateReferencePriceOffset(
-		reservePrice,
-		amm.last24HAvgFundingRate,
-		liquidityFraction,
-		amm.historicalOracleData.lastOraclePriceTwap5Min,
-		amm.lastMarkPriceTwap5Min,
-		amm.historicalOracleData.lastOraclePriceTwap,
-		amm.lastMarkPriceTwap,
-		maxOffset
-	);
+	let maxOffset = 0;
+	let referencePriceOffset = ZERO;
+	if (amm.curveUpdateIntensity > 100) {
+		maxOffset = Math.max(
+			amm.maxSpread / 5,
+			(PERCENTAGE_PRECISION.toNumber() / 10000) *
+				(amm.curveUpdateIntensity - 100)
+		);
+
+		const liquidityFraction = calculateInventoryLiquidityRatio(
+			amm.baseAssetAmountWithAmm,
+			amm.baseAssetReserve,
+			amm.minBaseAssetReserve,
+			amm.maxBaseAssetReserve
+		);
+		const liquidityFractionSigned = liquidityFraction.mul(
+			sigNum(amm.baseAssetAmountWithAmm.add(amm.baseAssetAmountWithUnsettledLp))
+		);
+		referencePriceOffset = calculateReferencePriceOffset(
+			reservePrice,
+			amm.last24HAvgFundingRate,
+			liquidityFractionSigned,
+			amm.historicalOracleData.lastOraclePriceTwap5Min,
+			amm.lastMarkPriceTwap5Min,
+			amm.historicalOracleData.lastOraclePriceTwap,
+			amm.lastMarkPriceTwap,
+			maxOffset
+		);
+	}
 
 	const [longSpread, shortSpread] = calculateSpread(
 		amm,
@@ -920,7 +930,7 @@ export function calculateSpreadReserves(
 		amm
 	);
 	const bidReserves = calculateSpreadReserve(
-		shortSpread + referencePriceOffset.toNumber(),
+		-shortSpread + referencePriceOffset.toNumber(),
 		PositionDirection.SHORT,
 		amm
 	);

package/src/priorityFee/priorityFeeSubscriber.ts

@@ -46,18 +46,18 @@ export class PriorityFeeSubscriber {
 	}
 
 	public get avgPriorityFee(): number {
-		return this.lastAvgStrategyResult;
+		return Math.floor(this.lastAvgStrategyResult);
 	}
 
 	public get maxPriorityFee(): number {
-		return this.lastMaxStrategyResult;
+		return Math.floor(this.lastMaxStrategyResult);
 	}
 
 	public get customPriorityFee(): number {
 		if (!this.customStrategy) {
 			console.error('Custom strategy not set');
 		}
-		return this.lastCustomStrategyResult;
+		return Math.floor(this.lastCustomStrategyResult);
 	}
 
 	public async subscribe(): Promise<void> {

package/tests/amm/test.ts

@@ -8,6 +8,7 @@ import {
 	calculateSpread,
 	calculateSpreadBN,
 	ZERO,
+	sigNum,
 	ONE,
 	calculateLiveOracleStd,
 	calculateLiveOracleTwap,
@@ -465,7 +466,7 @@ describe('AMM Tests', () => {
 
 		mockAmm.baseAssetAmountWithAmm = new BN(0);
 		mockAmm.pegMultiplier = new BN(13.553 * PEG_PRECISION.toNumber());
-		mockAmm.ammJitIntensity = 100;
+		mockAmm.ammJitIntensity = 200;
 		mockAmm.curveUpdateIntensity = 200;
 		mockAmm.baseSpread = 2500;
 		mockAmm.maxSpread = 25000;
@@ -521,13 +522,13 @@ describe('AMM Tests', () => {
 		console.log('amm.baseAssetReserve:', mockAmm.baseAssetReserve.toString());
 		assert(mockAmm.baseAssetReserve.eq(new BN('1000000000')));
 		const reserves2 = calculateSpreadReserves(mockAmm, oraclePriceData, now);
-		console.log(reserves2[1].baseAssetReserve.toString());
-		console.log(reserves2[1].quoteAssetReserve.toString());
+		console.log(reserves2[0].baseAssetReserve.toString());
+		console.log(reserves2[0].quoteAssetReserve.toString());
 
-		assert(reserves2[0].baseAssetReserve.eq(new BN('1006711408')));
-		assert(reserves2[0].quoteAssetReserve.eq(new BN('993333334')));
-		assert(reserves2[1].baseAssetReserve.eq(new BN('993377484')));
-		assert(reserves2[1].quoteAssetReserve.eq(new BN('1006666666')));
+		assert(reserves2[0].baseAssetReserve.eq(new BN('1005050504')));
+		assert(reserves2[0].quoteAssetReserve.eq(new BN('994974875')));
+		assert(reserves2[1].baseAssetReserve.eq(new BN('992537314')));
+		assert(reserves2[1].quoteAssetReserve.eq(new BN('1007518796')));
 
 		// create imbalance for reference price offset
 		mockAmm.baseAssetReserve = new BN(1000000000 * 1.1);
@@ -536,11 +537,12 @@ describe('AMM Tests', () => {
 			mockAmm.baseAssetReserve.mul(mockAmm.quoteAssetReserve)
 		);
 
-		mockAmm.baseAssetAmountWithAmm = new BN(-1000000000 * 0.1);
+		mockAmm.baseAssetAmountWithAmm = new BN(1000000000 * 0.1);
 
 		const maxOffset = Math.max(
 			mockAmm.maxSpread / 5,
-			PERCENTAGE_PRECISION.toNumber() / 1000
+			(PERCENTAGE_PRECISION.toNumber() / 10000) *
+				(mockAmm.curveUpdateIntensity - 100)
 		);
 		const liquidityFraction = calculateInventoryLiquidityRatio(
 			mockAmm.baseAssetAmountWithAmm,
@@ -550,11 +552,17 @@ describe('AMM Tests', () => {
 		);
 		console.log('liquidityFraction:', liquidityFraction.toString());
 		assert(liquidityFraction.eq(new BN(1000000))); // full
-
+		const liquidityFractionSigned = liquidityFraction.mul(
+			sigNum(
+				mockAmm.baseAssetAmountWithAmm.add(
+					mockAmm.baseAssetAmountWithUnsettledLp
+				)
+			)
+		);
 		const referencePriceOffset = calculateReferencePriceOffset(
 			reservePrice,
 			mockAmm.last24HAvgFundingRate,
-			liquidityFraction,
+			liquidityFractionSigned,
 			mockAmm.historicalOracleData.lastOraclePriceTwap5Min,
 			mockAmm.lastMarkPriceTwap5Min,
 			mockAmm.historicalOracleData.lastOraclePriceTwap,
@@ -562,17 +570,304 @@ describe('AMM Tests', () => {
 			maxOffset
 		);
 		console.log('referencePriceOffset:', referencePriceOffset.toString());
-		assert(referencePriceOffset.eq(new BN(5000)));
+		assert(referencePriceOffset.eq(new BN(10000)));
 		assert(referencePriceOffset.eq(new BN(maxOffset)));
 
+		// mockAmm.curveUpdateIntensity = 100;
+		const reserves3 = calculateSpreadReserves(mockAmm, oraclePriceData, now);
+		console.log(reserves3[0].baseAssetReserve.toString());
+		console.log(reserves3[0].quoteAssetReserve.toString());
+
+		assert(reserves3[0].baseAssetReserve.eq(new BN('1094581278')));
+		assert(reserves3[0].quoteAssetReserve.eq(new BN('913591359')));
+		assert(reserves3[1].baseAssetReserve.eq(new BN('989999998')));
+		assert(reserves3[1].quoteAssetReserve.eq(new BN('1010101010')));
+
+		const p1 = calculatePrice(
+			reserves3[0].baseAssetReserve,
+			reserves3[0].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+
+		const p2 = calculatePrice(
+			reserves3[1].baseAssetReserve,
+			reserves3[1].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+		console.log(p1.toString(), p2.toString());
+
+		assert(p1.eq(new BN(11312000)));
+		assert(p2.eq(new BN(13828180)));
+
+		mockAmm.curveUpdateIntensity = 110;
+		const reserves4 = calculateSpreadReserves(mockAmm, oraclePriceData, now);
+		console.log(reserves4[1].baseAssetReserve.toString());
+		console.log(reserves4[1].quoteAssetReserve.toString());
+
+		assert(reserves4[0].baseAssetReserve.eq(new BN('1097323599')));
+		assert(reserves4[0].quoteAssetReserve.eq(new BN('911308203')));
+		assert(reserves4[1].baseAssetReserve.eq(new BN('989999998')));
+		assert(reserves4[1].quoteAssetReserve.eq(new BN('1010101010')));
+
+		const p1RF = calculatePrice(
+			reserves4[0].baseAssetReserve,
+			reserves4[0].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+
+		const p2RF = calculatePrice(
+			reserves4[1].baseAssetReserve,
+			reserves4[1].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+		console.log(p1RF.toString(), p2RF.toString());
+
+		assert(p1RF.eq(new BN(11255531)));
+		assert(p2RF.eq(new BN(13828180)));
+		// no ref price offset at 100
+		mockAmm.curveUpdateIntensity = 100;
+		const reserves5 = calculateSpreadReserves(mockAmm, oraclePriceData, now);
+		console.log(reserves5[0].baseAssetReserve.toString());
+		console.log(reserves5[0].quoteAssetReserve.toString());
+
+		assert(reserves5[0].baseAssetReserve.eq(new BN('1100068201')));
+		assert(reserves5[0].quoteAssetReserve.eq(new BN('909034546')));
+		assert(reserves5[1].baseAssetReserve.eq(new BN('989999998')));
+		assert(reserves5[1].quoteAssetReserve.eq(new BN('1010101010')));
+
+		const p1RFNone = calculatePrice(
+			reserves5[0].baseAssetReserve,
+			reserves5[0].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+
+		const p2RFNone = calculatePrice(
+			reserves5[1].baseAssetReserve,
+			reserves5[1].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+		console.log(p1RFNone.toString(), p2RFNone.toString());
+
+		assert(p1RFNone.eq(new BN(11199437)));
+		assert(p2RFNone.eq(new BN(13828180)));
+		assert(p1RF.sub(p1RFNone).eq(new BN(56094)));
+		assert(p2RF.sub(p2RFNone).eq(new BN(0))); // todo?
+	});
+	it('Spread Reserves (with negative offset)', () => {
+		const myMockPerpMarkets = _.cloneDeep(mockPerpMarkets);
+		const mockMarket1 = myMockPerpMarkets[0];
+		const mockAmm = mockMarket1.amm;
+		const now = new BN(new Date().getTime() / 1000); //todo
+
+		const oraclePriceData = {
+			price: new BN(13.553 * PRICE_PRECISION.toNumber()),
+			slot: new BN(68 + 1),
+			confidence: new BN(1),
+			hasSufficientNumberOfDataPoints: true,
+		};
+
+		const reserves = calculateSpreadReserves(mockAmm, oraclePriceData, now);
+		assert(reserves[0].baseAssetReserve.eq(new BN('1000000000')));
+		assert(reserves[0].quoteAssetReserve.eq(new BN('12000000000')));
+		assert(reserves[1].baseAssetReserve.eq(new BN('1000000000')));
+		assert(reserves[1].quoteAssetReserve.eq(new BN('12000000000')));
+
+		mockAmm.baseAssetReserve = new BN(1000000000);
+		mockAmm.quoteAssetReserve = new BN(1000000000);
+		mockAmm.sqrtK = new BN(1000000000);
+
+		mockAmm.baseAssetAmountWithAmm = new BN(0);
+		mockAmm.pegMultiplier = new BN(13.553 * PEG_PRECISION.toNumber());
+		mockAmm.ammJitIntensity = 200;
+		mockAmm.curveUpdateIntensity = 200;
+		mockAmm.baseSpread = 2500;
+		mockAmm.maxSpread = 25000;
+
+		mockAmm.last24HAvgFundingRate = new BN(-7590328523);
+
+		mockAmm.lastMarkPriceTwap = new BN(
+			(oraclePriceData.price.toNumber() / 1e6 + 0.01) * 1e6
+		);
+		mockAmm.historicalOracleData.lastOraclePriceTwap = new BN(
+			(oraclePriceData.price.toNumber() / 1e6 - 0.015) * 1e6
+		);
+
+		mockAmm.historicalOracleData.lastOraclePriceTwap5Min = new BN(
+			(oraclePriceData.price.toNumber() / 1e6 + 0.005) * 1e6
+		);
+		mockAmm.lastMarkPriceTwap5Min = new BN(
+			(oraclePriceData.price.toNumber() / 1e6 - 0.005) * 1e6
+		);
+
+		console.log('starting rr:');
+		let reservePrice = undefined;
+		if (!reservePrice) {
+			reservePrice = calculatePrice(
+				mockAmm.baseAssetReserve,
+				mockAmm.quoteAssetReserve,
+				mockAmm.pegMultiplier
+			);
+		}
+
+		const targetPrice = oraclePriceData?.price || reservePrice;
+		const confInterval = oraclePriceData.confidence || ZERO;
+		const targetMarkSpreadPct = reservePrice
+			.sub(targetPrice)
+			.mul(BID_ASK_SPREAD_PRECISION)
+			.div(reservePrice);
+
+		const confIntervalPct = confInterval
+			.mul(BID_ASK_SPREAD_PRECISION)
+			.div(reservePrice);
+
+		// now = now || new BN(new Date().getTime() / 1000); //todo
+		const liveOracleStd = calculateLiveOracleStd(mockAmm, oraclePriceData, now);
+		console.log('reservePrice:', reservePrice.toString());
+		console.log('targetMarkSpreadPct:', targetMarkSpreadPct.toString());
+		console.log('confIntervalPct:', confIntervalPct.toString());
+
+		console.log('liveOracleStd:', liveOracleStd.toString());
+
+		const tt = calculateSpread(mockAmm, oraclePriceData, now);
+		console.log(tt);
+
+		console.log('amm.baseAssetReserve:', mockAmm.baseAssetReserve.toString());
+		assert(mockAmm.baseAssetReserve.eq(new BN('1000000000')));
+		const reserves2 = calculateSpreadReserves(mockAmm, oraclePriceData, now);
+		console.log(reserves2[1].baseAssetReserve.toString());
+		console.log(reserves2[1].quoteAssetReserve.toString());
+
+		assert(reserves2[0].baseAssetReserve.eq(new BN('1006289308')));
+		assert(reserves2[0].quoteAssetReserve.eq(new BN('993750000')));
+		assert(reserves2[1].baseAssetReserve.eq(new BN('993788819')));
+		assert(reserves2[1].quoteAssetReserve.eq(new BN('1006250000')));
+
+		// create imbalance for reference price offset
+		mockAmm.baseAssetReserve = new BN(1000000000 / 1.1);
+		mockAmm.quoteAssetReserve = new BN(1000000000 * 1.1);
+		mockAmm.sqrtK = squareRootBN(
+			mockAmm.baseAssetReserve.mul(mockAmm.quoteAssetReserve)
+		);
+
+		mockAmm.baseAssetAmountWithAmm = new BN(-1000000000 * 0.1);
+
+		const maxOffset = Math.max(
+			mockAmm.maxSpread / 5,
+			(PERCENTAGE_PRECISION.toNumber() / 10000) *
+				(mockAmm.curveUpdateIntensity - 100)
+		);
+		const liquidityFraction = calculateInventoryLiquidityRatio(
+			mockAmm.baseAssetAmountWithAmm,
+			mockAmm.baseAssetReserve,
+			mockAmm.minBaseAssetReserve,
+			mockAmm.maxBaseAssetReserve
+		);
+		console.log('liquidityFraction:', liquidityFraction.toString());
+		assert(liquidityFraction.eq(new BN(1000000))); // full
+		const liquidityFractionSigned = liquidityFraction.mul(
+			sigNum(
+				mockAmm.baseAssetAmountWithAmm.add(
+					mockAmm.baseAssetAmountWithUnsettledLp
+				)
+			)
+		);
+		const referencePriceOffset = calculateReferencePriceOffset(
+			reservePrice,
+			mockAmm.last24HAvgFundingRate,
+			liquidityFractionSigned,
+			mockAmm.historicalOracleData.lastOraclePriceTwap5Min,
+			mockAmm.lastMarkPriceTwap5Min,
+			mockAmm.historicalOracleData.lastOraclePriceTwap,
+			mockAmm.lastMarkPriceTwap,
+			maxOffset
+		);
+		console.log('referencePriceOffset:', referencePriceOffset.toString());
+		assert(referencePriceOffset.eq(new BN(-10000))); // neg
+
+		// assert(referencePriceOffset.eq(new BN(maxOffset)));
+
+		// mockAmm.curveUpdateIntensity = 100;
 		const reserves3 = calculateSpreadReserves(mockAmm, oraclePriceData, now);
-		console.log(reserves3[1].baseAssetReserve.toString());
-		console.log(reserves3[1].quoteAssetReserve.toString());
+		console.log(reserves3[0].baseAssetReserve.toString());
+		console.log(reserves3[0].quoteAssetReserve.toString());
+
+		assert(reserves3[0].baseAssetReserve.eq(new BN('1010101008')));
+		assert(reserves3[0].quoteAssetReserve.eq(new BN('990000000')));
+		assert(reserves3[1].baseAssetReserve.eq(new BN('913613747')));
+		assert(reserves3[1].quoteAssetReserve.eq(new BN('1094554456')));
+
+		const p1 = calculatePrice(
+			reserves3[0].baseAssetReserve,
+			reserves3[0].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+
+		const p2 = calculatePrice(
+			reserves3[1].baseAssetReserve,
+			reserves3[1].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+		console.log(p1.toString(), p2.toString());
+
+		assert(p1.eq(new BN(13283295)));
+		assert(p2.eq(new BN(16237164)));
+
+		mockAmm.curveUpdateIntensity = 110;
+		const reserves4 = calculateSpreadReserves(mockAmm, oraclePriceData, now);
+		console.log(reserves4[1].baseAssetReserve.toString());
+		console.log(reserves4[1].quoteAssetReserve.toString());
+
+		assert(reserves4[0].baseAssetReserve.eq(new BN('999999998')));
+		assert(reserves4[0].quoteAssetReserve.eq(new BN('1000000000')));
+		assert(reserves4[1].baseAssetReserve.eq(new BN('911313622')));
+		assert(reserves4[1].quoteAssetReserve.eq(new BN('1097317074')));
+
+		const p1RF = calculatePrice(
+			reserves4[0].baseAssetReserve,
+			reserves4[0].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+
+		const p2RF = calculatePrice(
+			reserves4[1].baseAssetReserve,
+			reserves4[1].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+		console.log(p1RF.toString(), p2RF.toString());
+
+		assert(p1RF.eq(new BN(13553000)));
+		assert(p2RF.eq(new BN(16319231)));
+
+		// no ref price offset at 100
+		mockAmm.curveUpdateIntensity = 100;
+		const reserves5 = calculateSpreadReserves(mockAmm, oraclePriceData, now);
+		console.log(reserves5[0].baseAssetReserve.toString());
+		console.log(reserves5[0].quoteAssetReserve.toString());
+
+		assert(reserves5[0].baseAssetReserve.eq(new BN('999999998')));
+		assert(reserves5[0].quoteAssetReserve.eq(new BN('1000000000')));
+		assert(reserves5[1].baseAssetReserve.eq(new BN('909034547')));
+		assert(reserves5[1].quoteAssetReserve.eq(new BN('1100068200')));
+
+		const p1RFNone = calculatePrice(
+			reserves5[0].baseAssetReserve,
+			reserves5[0].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+
+		const p2RFNone = calculatePrice(
+			reserves5[1].baseAssetReserve,
+			reserves5[1].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+		console.log(p1RFNone.toString(), p2RFNone.toString());
 
-		assert(reserves3[0].baseAssetReserve.eq(new BN('1164705879')));
-		assert(reserves3[0].quoteAssetReserve.eq(new BN('858585859')));
-		assert(reserves3[1].baseAssetReserve.eq(new BN('1042105261')));
-		assert(reserves3[1].quoteAssetReserve.eq(new BN('959595959')));
+		const rr = p2RF.sub(p2RFNone).mul(PERCENTAGE_PRECISION).div(p2RF);
+		console.log(rr.toNumber());
+		assert(p1RFNone.eq(new BN(13553000)));
+		assert(p2RFNone.eq(new BN(16401163)));
+		assert(p1RF.sub(p1RFNone).eq(new BN(0))); // todo?
+		assert(rr.eq(new BN(-5020)));
 	});
 
 	it('live update functions', () => {