@panoptic-eng/sdk 1.0.19 → 1.0.21

package/dist/{position-Bo7y8jcj.js → position-BK4a-Yyu.js}

@@ -10125,20 +10125,37 @@ function resolveAssetDirection(leg, assetIndex) {
 	return assetIndex !== void 0 ? assetIndex === 0n : leg.asset === 0n;
 }
 /**
+* Compute the tokenType-denominated notional of a width=0 (loan/credit) leg.
+*
+* When leg.asset !== leg.tokenType, positionSize is in leg.asset units and
+* the borrowed notional is encoded via leg.strike: notional_tokenType_raw =
+* positionSize_raw × 1.0001^strike (a raw-to-raw ratio, unquoted by pool direction).
+* When leg.asset === leg.tokenType, m is already the notional (old convention).
+*
+* `m > 0` for loans (isLong=false), `m < 0` for credits (isLong=true), so the
+* returned notional is signed the same way.
+*/
+function computeWidth0Notional(leg, m) {
+	const scaleByStrike = leg.asset !== leg.tokenType;
+	if (!scaleByStrike) return m;
+	const signedStrike = leg.asset === 0n ? leg.strike : -leg.strike;
+	const sqrtKraw = tickToSqrtPriceX96(signedStrike);
+	const KrawX192 = sqrtKraw * sqrtKraw;
+	return divTrunc(m * KrawX192, Q192);
+}
+/**
 * Calculate value for a width=0 (loan/credit) leg.
 * Width=0 means the range is a single tick (the strike), so there's no meaningful
 * "in range" — we use the below/above formulas which avoid division by (r-1)=0.
+*
+* This is the DEBT-ONLY value (the borrowed/lent obligation), used by delta/greeks
+* aggregation where the held-collateral side lives in a separate wallet/CT term. For
+* a standalone payoff chart that must reflect the net user-experienced payoff (which
+* depends on Zap vs Cover-at-mint), use `getLegNetValueWidth0`.
 */
 function getLegValueWidth0(leg, m, qCurrentTick, qStrikeTick, qMintTick, isAssetToken0, _definedRisk) {
 	const borrowsAsset = isCall(leg.tokenType, isAssetToken0);
-	const scaleByStrike = leg.asset !== leg.tokenType;
-	let notional = m;
-	if (scaleByStrike) {
-		const signedStrike = leg.asset === 0n ? leg.strike : -leg.strike;
-		const sqrtKraw = tickToSqrtPriceX96(signedStrike);
-		const KrawX192 = sqrtKraw * sqrtKraw;
-		notional = divTrunc(m * KrawX192, Q192);
-	}
+	const notional = computeWidth0Notional(leg, m);
 	if (borrowsAsset) {
 		const sqrtP = tickToSqrtPriceX96(qCurrentTick);
 		const sqrtPm = tickToSqrtPriceX96(qMintTick);
@@ -10148,6 +10165,81 @@ function getLegValueWidth0(leg, m, qCurrentTick, qStrikeTick, qMintTick, isAsset
 	} else return 0n;
 }
 /**
+* Calculate the NET (user-experienced) payoff value for a width=0 (loan/credit) leg.
+*
+* Unlike `getLegValueWidth0` (debt-only), this includes the collateral/holding side and
+* therefore depends on how the position was opened:
+*
+* - **Cover at mint** (`swapAtMint = false`): the collateral is sourced in the SAME token as
+*   the debt/credit, so the holding side exactly offsets it → net PnL is FLAT (0 everywhere,
+*   mint-relative), regardless of which token the leg is denominated in.
+* - **Zap** (`swapAtMint = true`): the collateral is sourced in the OTHER token, leaving a
+*   ±1-delta line in the asset (ETH), anchored to 0 at the mint price:
+*     - USDC loan  → zap to ETH:   +1 (long ETH)
+*     - ETH  loan  → zap to USDC:  −1 (short ETH)
+*     - USDC credit ← zap from ETH: −1 (short ETH)
+*     - ETH  credit ← zap from USDC: +1 (long ETH)
+*
+* @returns Net leg value in numeraire token smallest units (mint-relative PnL).
+*/
+function getLegNetValueWidth0(leg, m, qCurrentTick, qMintTick, isAssetToken0, swapAtMint, itmOffsetNotional = 0n) {
+	if (!swapAtMint) return 0n;
+	const borrowsAsset = isCall(leg.tokenType, isAssetToken0);
+	const notional = computeWidth0Notional(leg, m) + itmOffsetNotional;
+	const sqrtP = tickToSqrtPriceX96(qCurrentTick);
+	const sqrtPm = tickToSqrtPriceX96(qMintTick);
+	const PX192 = sqrtP * sqrtP;
+	const PmX192 = sqrtPm * sqrtPm;
+	if (borrowsAsset) return divTrunc(-notional * (PX192 - PmX192), Q192);
+	return divTrunc(notional * PX192, PmX192) - notional;
+}
+/**
+* Compute the mint-time ITM (in-the-money) adjustment for an option leg.
+*
+* This is the `itm` baseline used by {@link getLegValue}: the amount by which the
+* position was already ITM at mint, expressed in the leg's natural units:
+* - Puts: numeraire units (added directly to the put's `debt*K + v` value).
+* - Calls: asset-ratio units (the call value multiplies it by price: `itm*P`/`itm*Pm`).
+*
+* Extracted so callers (e.g. {@link calculatePositionValue}) can build a per-side ITM
+* notional pool to net width=0 credit/loan legs against — an ITM-neutralizing credit
+* was sized to offset exactly this amount, so it should not add a spurious swap line.
+*/
+function computeOptionItm(m, qStrikeTick, qMintTick, halfWidthTick, isPut) {
+	if (isPut) {
+		if (qMintTick < qStrikeTick - halfWidthTick) {
+			const sqrtK$1 = tickToSqrtPriceX96(qStrikeTick);
+			const sqrtPm$2 = tickToSqrtPriceX96(qMintTick);
+			const KX192 = sqrtK$1 * sqrtK$1;
+			const PmX192 = sqrtPm$2 * sqrtPm$2;
+			return divTrunc(m * (KX192 - PmX192), Q192);
+		} else if (qMintTick > qStrikeTick + halfWidthTick) return 0n;
+		const sqrtKR = tickToSqrtPriceX96(qStrikeTick + halfWidthTick);
+		const sqrtPm$1 = tickToSqrtPriceX96(qMintTick);
+		const sqrtR$1 = tickToSqrtPriceX96(halfWidthTick);
+		const rX192$1 = sqrtR$1 * sqrtR$1;
+		const diff$1 = sqrtKR - sqrtPm$1;
+		const diffSqX192$1 = diff$1 * diff$1;
+		return divTrunc(m * diffSqX192$1, rX192$1 - Q192);
+	}
+	if (qMintTick < qStrikeTick - halfWidthTick) return 0n;
+	else if (qMintTick > qStrikeTick + halfWidthTick) {
+		const sqrtK$1 = tickToSqrtPriceX96(qStrikeTick);
+		const sqrtPm$1 = tickToSqrtPriceX96(qMintTick);
+		const KX192 = sqrtK$1 * sqrtK$1;
+		const PmX192 = sqrtPm$1 * sqrtPm$1;
+		return divTrunc(m * (PmX192 - KX192), PmX192);
+	}
+	const sqrtR = tickToSqrtPriceX96(halfWidthTick);
+	const sqrtK = tickToSqrtPriceX96(qStrikeTick);
+	const sqrtPm = tickToSqrtPriceX96(qMintTick);
+	const rX192 = sqrtR * sqrtR;
+	const sqrtKPmX96 = divTrunc(sqrtK * Q96, sqrtPm);
+	const diff = sqrtR - sqrtKPmX96;
+	const diffSqX192 = diff * diff;
+	return divTrunc(m * diffSqX192, rX192 - Q192);
+}
+/**
 * Check if leg is a call option (vs put).
 *
 * A call is when the leg moves the asset token:
@@ -10188,13 +10280,14 @@ function isDefinedRisk(legs) {
 * @param assetIndex - Optional override for leg.asset (0n = token0 is asset, 1n = token1)
 * @returns Leg value in numeraire token smallest units
 */
-function getLegValue(leg, currentTick, mintTick, positionSize, poolTickSpacing, definedRisk, assetIndex) {
+function getLegValue(leg, currentTick, mintTick, positionSize, poolTickSpacing, definedRisk, assetIndex, swapAtMint) {
 	const isAssetToken0 = resolveAssetDirection(leg, assetIndex);
 	const qCurrentTick = quoteTick(currentTick, isAssetToken0);
 	const qMintTick = quoteTick(mintTick, isAssetToken0);
 	const qStrikeTick = quoteTick(leg.strike, isAssetToken0);
 	const halfWidthTick = leg.width * poolTickSpacing / 2n;
 	const m = leg.isLong ? -(positionSize * leg.optionRatio) : positionSize * leg.optionRatio;
+	if (leg.width === 0n && swapAtMint !== void 0) return getLegNetValueWidth0(leg, m, qCurrentTick, qMintTick, isAssetToken0, swapAtMint);
 	if (halfWidthTick === 0n) return getLegValueWidth0(leg, m, qCurrentTick, qStrikeTick, qMintTick, isAssetToken0, definedRisk);
 	let v;
 	if (qCurrentTick < qStrikeTick - halfWidthTick) {
@@ -10219,40 +10312,7 @@ function getLegValue(leg, currentTick, mintTick, positionSize, poolTickSpacing,
 	}
 	const debt = -m;
 	const isPut = !isCall(leg.tokenType, isAssetToken0);
-	let itm;
-	if (isPut) if (qMintTick < qStrikeTick - halfWidthTick) {
-		const sqrtK = tickToSqrtPriceX96(qStrikeTick);
-		const sqrtPm = tickToSqrtPriceX96(qMintTick);
-		const KX192 = sqrtK * sqrtK;
-		const PmX192 = sqrtPm * sqrtPm;
-		itm = divTrunc(m * (KX192 - PmX192), Q192);
-	} else if (qMintTick > qStrikeTick + halfWidthTick) itm = 0n;
-	else {
-		const sqrtKR = tickToSqrtPriceX96(qStrikeTick + halfWidthTick);
-		const sqrtPm = tickToSqrtPriceX96(qMintTick);
-		const sqrtR = tickToSqrtPriceX96(halfWidthTick);
-		const rX192 = sqrtR * sqrtR;
-		const diff = sqrtKR - sqrtPm;
-		const diffSqX192 = diff * diff;
-		itm = divTrunc(m * diffSqX192, rX192 - Q192);
-	}
-	else if (qMintTick < qStrikeTick - halfWidthTick) itm = 0n;
-	else if (qMintTick > qStrikeTick + halfWidthTick) {
-		const sqrtK = tickToSqrtPriceX96(qStrikeTick);
-		const sqrtPm = tickToSqrtPriceX96(qMintTick);
-		const KX192 = sqrtK * sqrtK;
-		const PmX192 = sqrtPm * sqrtPm;
-		itm = divTrunc(m * (PmX192 - KX192), PmX192);
-	} else {
-		const sqrtR = tickToSqrtPriceX96(halfWidthTick);
-		const sqrtK = tickToSqrtPriceX96(qStrikeTick);
-		const sqrtPm = tickToSqrtPriceX96(qMintTick);
-		const rX192 = sqrtR * sqrtR;
-		const sqrtKPmX96 = divTrunc(sqrtK * Q96, sqrtPm);
-		const diff = sqrtR - sqrtKPmX96;
-		const diffSqX192 = diff * diff;
-		itm = divTrunc(m * diffSqX192, rX192 - Q192);
-	}
+	const itm = computeOptionItm(m, qStrikeTick, qMintTick, halfWidthTick, isPut);
 	if (isPut) {
 		const sqrtK = tickToSqrtPriceX96(qStrikeTick);
 		const KX192 = sqrtK * sqrtK;
@@ -10403,9 +10463,36 @@ function getLegGamma(leg, currentTick, positionSize, poolTickSpacing, assetIndex
 * Calculate total value across all legs.
 */
 function calculatePositionValue(input) {
-	const { legs, currentTick, mintTick, positionSize, poolTickSpacing, assetIndex } = input;
+	const { legs, currentTick, mintTick, positionSize, poolTickSpacing, assetIndex, swapAtMint } = input;
 	const definedRisk = isDefinedRisk(legs);
-	return legs.reduce((sum, leg) => sum + getLegValue(leg, currentTick, mintTick, positionSize, poolTickSpacing, definedRisk, assetIndex), 0n);
+	if (swapAtMint === void 0) return legs.reduce((sum$1, leg) => sum$1 + getLegValue(leg, currentTick, mintTick, positionSize, poolTickSpacing, definedRisk, assetIndex, swapAtMint), 0n);
+	let numeraireItmPool = 0n;
+	let assetItmPool = 0n;
+	for (const leg of legs) {
+		const halfWidthTick = leg.width * poolTickSpacing / 2n;
+		if (leg.width === 0n || halfWidthTick === 0n) continue;
+		const isAssetToken0 = resolveAssetDirection(leg, assetIndex);
+		const qStrikeTick = quoteTick(leg.strike, isAssetToken0);
+		const qMintTick = quoteTick(mintTick, isAssetToken0);
+		const m = leg.isLong ? -(positionSize * leg.optionRatio) : positionSize * leg.optionRatio;
+		const isPut = !isCall(leg.tokenType, isAssetToken0);
+		const itm = computeOptionItm(m, qStrikeTick, qMintTick, halfWidthTick, isPut);
+		if (isPut) numeraireItmPool += itm;
+		else assetItmPool += itm;
+	}
+	let sum = 0n;
+	for (const leg of legs) if (leg.width === 0n) {
+		const isAssetToken0 = resolveAssetDirection(leg, assetIndex);
+		const borrowsAsset = isCall(leg.tokenType, isAssetToken0);
+		const offset = borrowsAsset ? assetItmPool : numeraireItmPool;
+		if (borrowsAsset) assetItmPool = 0n;
+		else numeraireItmPool = 0n;
+		const qCurrentTick = quoteTick(currentTick, isAssetToken0);
+		const qMintTick = quoteTick(mintTick, isAssetToken0);
+		const m = leg.isLong ? -(positionSize * leg.optionRatio) : positionSize * leg.optionRatio;
+		sum += getLegNetValueWidth0(leg, m, qCurrentTick, qMintTick, isAssetToken0, swapAtMint, offset);
+	} else sum += getLegValue(leg, currentTick, mintTick, positionSize, poolTickSpacing, definedRisk, assetIndex, swapAtMint);
+	return sum;
 }
 /**
 * Calculate total delta across all legs.
@@ -10984,5 +11071,5 @@ async function getPositionGreeks(params) {
 }
 
 //#endregion
-export { AccountInsolventError, AlreadyInitializedError, BPS_DENOMINATOR, BatchValidationError, BelowMinimumRedemptionError, CastingError, ChunkHasZeroLiquidityError, ChunkLimitError, CrossPoolError, DEFAULT_MAX_SPREAD, DEFAULT_VEGOID, DepositTooLargeError, DuplicateTokenIdError, EffectiveLiquidityAboveThresholdError, ExceedsMaximumRedemptionError, InputListFailError, InsufficientCreditLiquidityError, InvalidBuilderCodeError, InvalidHistoryRangeError, InvalidTickBoundError, InvalidTickError, InvalidTickLimitsError, InvalidTokenIdParameterError, InvalidUniswapCallbackError, LEG_BITS, LEG_LIMITS, LEG_MASKS, LengthMismatchError, LiquidityTooHighError, LoanSlotExhaustedError, MAX_TICK, MAX_TRACKED_CHUNKS, MIN_TICK, MaxRetriesExceededError, MissingPositionIdsError, MulticallNoDataError, MulticallResultFailedError, MulticallResultMissingError, NetLiquidityZeroError, NetworkMismatchError, NoLegsExercisableError, NoLoanPositionsError, NotALongLegError, NotBuilderError, NotEnoughLiquidityInChunkError, NotEnoughTokensError, NotGuardianError, NotMarginCalledError, NotPanopticPoolError, ORACLE_EPOCH_SECONDS, OracleRateLimitedError, PanopticError as PanopticError$1, PanopticHelperNotDeployedError, PanopticValidationError, PoolNotInitializedError, PositionCountNotZeroError, PositionNotOwnedError, PositionSnapshotNotFoundError, PositionTooLargeError, PriceBoundFailError, PriceImpactTooLargeError, ProviderLagError, REORG_DEPTH, ReentrancyError, RpcError, RpcResponseError, SCHEMA_VERSION, STANDARD_TICK_WIDTHS, STORAGE_PREFIX, STRIKE_CONVERSION_FACTOR, SafeModeError, StaleDataError, StaleOracleError, StorageDataNotFoundError, SwapTokenMismatchError, SyncTimeoutError, TOKEN_ID_BITS, TokenIdHasZeroLegsError, TooManyLegsOpenError, TransferFailedError, UTILIZATION_DENOMINATOR, UnauthorizedUniswapCallbackError, UnderOverFlowError, UnhealthyPoolError, WAD as WAD$1, WrongPoolIdError, WrongUniswapPoolError, ZERO_COLLATERAL, ZERO_VALUATION, ZeroAddressError, ZeroCollateralRequirementError, calculatePortfolioDelta, calculatePortfolioGamma, calculatePortfolioGreeks, calculatePortfolioValue, calculatePositionDelta, calculatePositionDeltaWithSwap, calculatePositionGamma, calculatePositionGreeks, calculatePositionValue, collateralTrackerV2Abi, createTxResult, decodeLeftRightSigned, decodeLeftRightUnsigned, decodePosition, decodePositionBalance$1 as decodePositionBalance, decodeTickSpacing, fetchPoolId as fetchPoolId$1, formatPriceRange as formatPriceRange$1, formatTick as formatTick$1, formatTickRange as formatTickRange$1, getBlockMeta, getLegDelta, getLegGamma, getLegValue, getOracleState as getOracleState$1, getPool as getPool$1, getPoolMetadata as getPoolMetadata$1, getPosition, getPositionGreeks, getPositions, getPricesAtTick as getPricesAtTick$1, getRiskParameters as getRiskParameters$1, getTickSpacing as getTickSpacing$1, getUtilization as getUtilization$1, isCall, isDefinedRisk, isPanopticErrorType, panopticErrorsAbi, panopticFactoryV3Abi, panopticFactoryV4Abi, panopticGuardianAbi, panopticPoolV2Abi, panopticQueryAbi as panopticQueryAbi$1, parsePanopticError, priceToTick as priceToTick$1, riskEngineAbi, roundToTickSpacing as roundToTickSpacing$1, semiFungiblePositionManagerV3Abi, semiFungiblePositionManagerV4Abi, sqrtPriceX96ToPriceDecimalScaled as sqrtPriceX96ToPriceDecimalScaled$1, sqrtPriceX96ToTick as sqrtPriceX96ToTick$1, stateViewAbi, submitWrite, tickLimits as tickLimits$1, tickToPrice as tickToPrice$1, tickToPriceDecimalScaled as tickToPriceDecimalScaled$1, tickToSqrtPriceX96 as tickToSqrtPriceX96$1, uniswapV3PoolAbi, validateBuilderCode as validateBuilderCode$1 };
-//# sourceMappingURL=position-Bo7y8jcj.js.map
+export { AccountInsolventError, AlreadyInitializedError, BPS_DENOMINATOR, BatchValidationError, BelowMinimumRedemptionError, CastingError, ChunkHasZeroLiquidityError, ChunkLimitError, CrossPoolError, DEFAULT_MAX_SPREAD, DEFAULT_VEGOID, DepositTooLargeError, DuplicateTokenIdError, EffectiveLiquidityAboveThresholdError, ExceedsMaximumRedemptionError, InputListFailError, InsufficientCreditLiquidityError, InvalidBuilderCodeError, InvalidHistoryRangeError, InvalidTickBoundError, InvalidTickError, InvalidTickLimitsError, InvalidTokenIdParameterError, InvalidUniswapCallbackError, LEG_BITS, LEG_LIMITS, LEG_MASKS, LengthMismatchError, LiquidityTooHighError, LoanSlotExhaustedError, MAX_TICK, MAX_TRACKED_CHUNKS, MIN_TICK, MaxRetriesExceededError, MissingPositionIdsError, MulticallNoDataError, MulticallResultFailedError, MulticallResultMissingError, NetLiquidityZeroError, NetworkMismatchError, NoLegsExercisableError, NoLoanPositionsError, NotALongLegError, NotBuilderError, NotEnoughLiquidityInChunkError, NotEnoughTokensError, NotGuardianError, NotMarginCalledError, NotPanopticPoolError, ORACLE_EPOCH_SECONDS, OracleRateLimitedError, PanopticError as PanopticError$1, PanopticHelperNotDeployedError, PanopticValidationError, PoolNotInitializedError, PositionCountNotZeroError, PositionNotOwnedError, PositionSnapshotNotFoundError, PositionTooLargeError, PriceBoundFailError, PriceImpactTooLargeError, ProviderLagError, REORG_DEPTH, ReentrancyError, RpcError, RpcResponseError, SCHEMA_VERSION, STANDARD_TICK_WIDTHS, STORAGE_PREFIX, STRIKE_CONVERSION_FACTOR, SafeModeError, StaleDataError, StaleOracleError, StorageDataNotFoundError, SwapTokenMismatchError, SyncTimeoutError, TOKEN_ID_BITS, TokenIdHasZeroLegsError, TooManyLegsOpenError, TransferFailedError, UTILIZATION_DENOMINATOR, UnauthorizedUniswapCallbackError, UnderOverFlowError, UnhealthyPoolError, WAD as WAD$1, WrongPoolIdError, WrongUniswapPoolError, ZERO_COLLATERAL, ZERO_VALUATION, ZeroAddressError, ZeroCollateralRequirementError, calculatePortfolioDelta, calculatePortfolioGamma, calculatePortfolioGreeks, calculatePortfolioValue, calculatePositionDelta, calculatePositionDeltaWithSwap, calculatePositionGamma, calculatePositionGreeks, calculatePositionValue, collateralTrackerV2Abi, createTxResult, decodeLeftRightSigned, decodeLeftRightUnsigned, decodePosition, decodePositionBalance$1 as decodePositionBalance, decodeTickSpacing, fetchPoolId as fetchPoolId$1, formatPriceRange as formatPriceRange$1, formatTick as formatTick$1, formatTickRange as formatTickRange$1, getBlockMeta, getLegDelta, getLegGamma, getLegNetValueWidth0, getLegValue, getOracleState as getOracleState$1, getPool as getPool$1, getPoolMetadata as getPoolMetadata$1, getPosition, getPositionGreeks, getPositions, getPricesAtTick as getPricesAtTick$1, getRiskParameters as getRiskParameters$1, getTickSpacing as getTickSpacing$1, getUtilization as getUtilization$1, isCall, isDefinedRisk, isPanopticErrorType, panopticErrorsAbi, panopticFactoryV3Abi, panopticFactoryV4Abi, panopticGuardianAbi, panopticPoolV2Abi, panopticQueryAbi as panopticQueryAbi$1, parsePanopticError, priceToTick as priceToTick$1, riskEngineAbi, roundToTickSpacing as roundToTickSpacing$1, semiFungiblePositionManagerV3Abi, semiFungiblePositionManagerV4Abi, sqrtPriceX96ToPriceDecimalScaled as sqrtPriceX96ToPriceDecimalScaled$1, sqrtPriceX96ToTick as sqrtPriceX96ToTick$1, stateViewAbi, submitWrite, tickLimits as tickLimits$1, tickToPrice as tickToPrice$1, tickToPriceDecimalScaled as tickToPriceDecimalScaled$1, tickToSqrtPriceX96 as tickToSqrtPriceX96$1, uniswapV3PoolAbi, validateBuilderCode as validateBuilderCode$1 };
+//# sourceMappingURL=position-BK4a-Yyu.js.map