@reyaxyz/common 0.377.0 → 0.378.0

package/README.md

@@ -6,5 +6,5 @@
 
 | Statements                  | Branches                | Functions                 | Lines             |
 | --------------------------- | ----------------------- | ------------------------- | ----------------- |
-| ![Statements](https://img.shields.io/badge/statements-58.3%25-red.svg?style=flat) | ![Branches](https://img.shields.io/badge/branches-58.8%25-red.svg?style=flat) | ![Functions](https://img.shields.io/badge/functions-45.93%25-red.svg?style=flat) | ![Lines](https://img.shields.io/badge/lines-61.84%25-red.svg?style=flat) |
+| ![Statements](https://img.shields.io/badge/statements-58.36%25-red.svg?style=flat) | ![Branches](https://img.shields.io/badge/branches-58.72%25-red.svg?style=flat) | ![Functions](https://img.shields.io/badge/functions-45.93%25-red.svg?style=flat) | ![Lines](https://img.shields.io/badge/lines-61.87%25-red.svg?style=flat) |
 

package/dist/types/utils/realized-balance.d.ts

@@ -57,22 +57,20 @@ export declare function positionAdjustmentTrackers<T extends Pick<RealizedBalanc
 /** Mirrors perpOB updatePerpPosition, including PRBMath truncation at each step. */
 export declare function calculateSettledPositionPnl(position: RealizedBalancePosition, trackers: RealizedBalanceTrackers | undefined, onGuarded?: () => void): BigNumber;
 /**
- * Raw E18 funding on an open position since entry, as `averageEntryFundingValue`
- * tracks it in perpOB `propagateOrderToPerpPosition`: averaged in when the
- * position grows, unchanged on a reduce, reset on a reopen or flip. Funding has
- * already settled into the balance as it accrued; this attributes it to the
- * open position. Positive means the position earned funding.
+ * Raw E18 funding on an open position since its size last changed (a fill,
+ * liquidation or ADL unwind): the funding Core settles into the position's
+ * realized PnL at its next change (`computeFundingCashflow` in perpOB), from
+ * the position's stored funding value to the market trackers. The settled
+ * balance already counts it (`calculateSettledPositionPnl`), so this
+ * attributes it to the position and must never be added to a balance.
+ * Positive means the position received funding.
  *
- * The stored base over the multiplier at the position's last update is the
- * same ratio as the ADL-adjusted base over the current multiplier, so no ADL
- * adjustment is needed. Market trackers behind the position's own snapshot
- * stand in with the position's funding value, as settlement does.
+ * The stored base over the stored multiplier is the same ratio as the
+ * ADL-adjusted base over the current multiplier, so no ADL adjustment is
+ * needed. Market trackers behind the position's own snapshot accrue nothing,
+ * as in settlement.
  */
-export declare function calculatePositionFundingPnl(position: RealizedBalancePosition & {
-    average_entry_funding_value: {
-        toString(): string;
-    } | null;
-}, trackers: RealizedBalanceTrackers | undefined): BigNumber;
+export declare function calculatePositionFundingSinceChange(position: RealizedBalancePosition, trackers: RealizedBalanceTrackers | undefined): BigNumber;
 /**
  * Returns raw E18 PnL aligned to collateral units. The instrument floors EACH
  * market's PnL to quote-token precision before Core aggregates collateral info.

package/dist/types/utils/realized-balance.d.ts.map

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package/dist/utils/realized-balance.js

@@ -29,7 +29,7 @@ var __importDefault = (this && this.__importDefault) || function (mod) {
     return (mod && mod.__esModule) ? mod : { "default": mod };
 };
 Object.defineProperty(exports, "__esModule", { value: true });
-exports.calculateSettledAccountPnl = exports.calculatePositionFundingPnl = exports.calculateSettledPositionPnl = exports.positionAdjustmentTrackers = exports.trackersBehindPosition = exports.SettlementTrackerError = void 0;
+exports.calculateSettledAccountPnl = exports.calculatePositionFundingSinceChange = exports.calculateSettledPositionPnl = exports.positionAdjustmentTrackers = exports.trackersBehindPosition = exports.SettlementTrackerError = void 0;
 var bignumber_js_1 = __importDefault(require("bignumber.js"));
 /** Structured cause for service metrics; calculation still fails closed. */
 var SettlementTrackerError = /** @class */ (function (_super) {
@@ -142,36 +142,38 @@ function calculateSettledPositionPnl(position, trackers, onGuarded) {
 }
 exports.calculateSettledPositionPnl = calculateSettledPositionPnl;
 /**
- * Raw E18 funding on an open position since entry, as `averageEntryFundingValue`
- * tracks it in perpOB `propagateOrderToPerpPosition`: averaged in when the
- * position grows, unchanged on a reduce, reset on a reopen or flip. Funding has
- * already settled into the balance as it accrued; this attributes it to the
- * open position. Positive means the position earned funding.
+ * Raw E18 funding on an open position since its size last changed (a fill,
+ * liquidation or ADL unwind): the funding Core settles into the position's
+ * realized PnL at its next change (`computeFundingCashflow` in perpOB), from
+ * the position's stored funding value to the market trackers. The settled
+ * balance already counts it (`calculateSettledPositionPnl`), so this
+ * attributes it to the position and must never be added to a balance.
+ * Positive means the position received funding.
  *
- * The stored base over the multiplier at the position's last update is the
- * same ratio as the ADL-adjusted base over the current multiplier, so no ADL
- * adjustment is needed. Market trackers behind the position's own snapshot
- * stand in with the position's funding value, as settlement does.
+ * The stored base over the stored multiplier is the same ratio as the
+ * ADL-adjusted base over the current multiplier, so no ADL adjustment is
+ * needed. Market trackers behind the position's own snapshot accrue nothing,
+ * as in settlement.
  */
-function calculatePositionFundingPnl(position, trackers) {
+function calculatePositionFundingSinceChange(position, trackers) {
     var base = integer(position.base, 'position base');
     if (base.isZero())
         return new bignumber_js_1.default(0);
     if (!trackers)
         throw new SettlementTrackerError(position.market_id.toString(), 'missing');
-    var funding = trackersBehindPosition(position, trackers)
-        ? integer(position.funding_value, 'position funding')
-        : integer(base.isPositive()
-            ? trackers.longTrackersFundingValue
-            : trackers.shortTrackersFundingValue, 'market funding');
-    var entry = integer(position.average_entry_funding_value, 'average entry funding value');
+    if (trackersBehindPosition(position, trackers))
+        return new bignumber_js_1.default(0);
+    var funding = integer(base.isPositive()
+        ? trackers.longTrackersFundingValue
+        : trackers.shortTrackersFundingValue, 'market funding');
+    var lastFunding = integer(position.funding_value, 'position funding');
     var multiplier = integer(position.base_multiplier, 'position multiplier');
     if (multiplier.lte(0)) {
         throw new SettlementTrackerError(position.market_id.toString(), 'inconsistent');
     }
-    return mulWad(divWad(funding.minus(entry), multiplier), base.negated());
+    return mulWad(divWad(funding.minus(lastFunding), multiplier), base.negated());
 }
-exports.calculatePositionFundingPnl = calculatePositionFundingPnl;
+exports.calculatePositionFundingSinceChange = calculatePositionFundingSinceChange;
 /**
  * Returns raw E18 PnL aligned to collateral units. The instrument floors EACH
  * market's PnL to quote-token precision before Core aggregates collateral info.

package/dist/utils/realized-balance.js.map

@@ -1 +1 @@
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BigNumber from 'bignumber.js';\n\n/** Raw E18 position values, from either Prisma or replication. */\nexport type RealizedBalancePosition = {\n  market_id: { toString(): string };\n  base: { toString(): string } | null;\n  realized_pnl: { toString(): string } | null;\n  funding_value: { toString(): string } | null;\n  base_multiplier: { toString(): string } | null;\n  adl_unwind_price: { toString(): string } | null;\n  last_price: { toString(): string } | null;\n  /** Block the stored trackers were written at; lets stale market trackers be ignored. */\n  block_number?: { toString(): string } | null;\n};\n\nexport type RealizedBalanceTrackers = {\n  longTrackersFundingValue: string;\n  shortTrackersFundingValue: string;\n  longTrackersBaseMultiplier: string;\n  shortTrackersBaseMultiplier: string;\n  longTrackersAdlUnwindPrice: string;\n  shortTrackersAdlUnwindPrice: string;\n  /** Block the market trackers were observed at (optional; enables the staleness guard). */\n  blockNumber?: string | null;\n};\n\n/** Structured cause for service metrics; calculation still fails closed. */\nexport class SettlementTrackerError extends Error {\n  constructor(\n    public readonly marketId: string,\n    public readonly reason: 'missing' | 'inconsistent',\n  ) {\n    super(\n      reason === 'missing'\n        ? `Missing market trackers for ${marketId}`\n        : `Inconsistent ADL trackers for ${marketId}`,\n    );\n    // common targets ES5; restore Error subclass identity after downleveling.\n    Object.setPrototypeOf(this, new.target.prototype);\n    this.name = 'SettlementTrackerError';\n  }\n}\n\nconst WAD = new BigNumber('1000000000000000000');\nconst integer = (value: { toString(): string } | null, field: string) => {\n  const result = new BigNumber(value?.toString() ?? NaN);\n  if (!result.isInteger()) throw new Error(`Missing or invalid ${field}`);\n  return result;\n};\nconst optionalBlock = (value: { toString(): string } | null | undefined) => {\n  if (value === null || value === undefined) return undefined;\n  const result = new BigNumber(value.toString());\n  return result.isInteger() ? result : undefined;\n};\n/**\n * Market trackers older than the position's own snapshot carry nothing the\n * stored position does not already reflect. Off-chain tracker feeds can lag\n * the position stream.\n */\nexport function trackersBehindPosition(\n  position: Pick<RealizedBalancePosition, 'block_number'>,\n  trackers: Pick<RealizedBalanceTrackers, 'blockNumber'>,\n): boolean {\n  const positionBlock = optionalBlock(position.block_number);\n  const trackerBlock = optionalBlock(trackers.blockNumber);\n  return !!positionBlock && !!trackerBlock && positionBlock.gt(trackerBlock);\n}\n\n/**\n * The trackers to ADL-adjust a position's quantity with, guarded the way its\n * settlement is: behind the position, its own multiplier and unwind price stand in.\n */\nexport function positionAdjustmentTrackers<\n  T extends Pick<\n    RealizedBalanceTrackers,\n    | 'longTrackersBaseMultiplier'\n    | 'shortTrackersBaseMultiplier'\n    | 'longTrackersAdlUnwindPrice'\n    | 'shortTrackersAdlUnwindPrice'\n    | 'blockNumber'\n  >,\n>(\n  position: Pick<\n    RealizedBalancePosition,\n    'block_number' | 'base_multiplier' | 'adl_unwind_price'\n  >,\n  trackers: T,\n): T {\n  if (\n    !trackersBehindPosition(position, trackers) ||\n    position.base_multiplier === null ||\n    position.adl_unwind_price === null\n  )\n    return trackers;\n  const multiplier = position.base_multiplier.toString();\n  const unwind = position.adl_unwind_price.toString();\n  return {\n    ...trackers,\n    longTrackersBaseMultiplier: multiplier,\n    shortTrackersBaseMultiplier: multiplier,\n    longTrackersAdlUnwindPrice: unwind,\n    shortTrackersAdlUnwindPrice: unwind,\n  };\n}\n\nconst mulWad = (a: BigNumber, b: BigNumber) =>\n  a.times(b).dividedToIntegerBy(WAD);\nconst divWad = (a: BigNumber, b: BigNumber) =>\n  a.times(WAD).dividedToIntegerBy(b);\n\n/** Mirrors perpOB updatePerpPosition, including PRBMath truncation at each step. */\nexport function calculateSettledPositionPnl(\n  position: RealizedBalancePosition,\n  trackers: RealizedBalanceTrackers | undefined,\n  onGuarded?: () => void,\n): BigNumber {\n  const base = integer(position.base, 'position base');\n  const realized = integer(position.realized_pnl, 'realized PnL');\n  if (base.isZero()) return realized;\n  if (!trackers)\n    throw new SettlementTrackerError(position.market_id.toString(), 'missing');\n\n  const long = base.isPositive();\n  const funding = integer(\n    long\n      ? trackers.longTrackersFundingValue\n      : trackers.shortTrackersFundingValue,\n    'market funding',\n  );\n  const multiplier = integer(\n    long\n      ? trackers.longTrackersBaseMultiplier\n      : trackers.shortTrackersBaseMultiplier,\n    'market multiplier',\n  );\n  const unwind = integer(\n    long\n      ? trackers.longTrackersAdlUnwindPrice\n      : trackers.shortTrackersAdlUnwindPrice,\n    'market unwind price',\n  );\n  const oldMultiplier = integer(\n    position.base_multiplier,\n    'position multiplier',\n  );\n  const oldUnwind = integer(position.adl_unwind_price, 'position unwind price');\n  const oldFunding = integer(position.funding_value, 'position funding');\n  if (\n    funding.eq(oldFunding) &&\n    multiplier.eq(oldMultiplier) &&\n    unwind.eq(oldUnwind)\n  )\n    return realized;\n\n  // Market trackers older than the position's own snapshot carry no new\n  // cashflow: the stored realized PnL already settled everything up to the\n  // position's block. Treat that window as \"nothing accrued\" instead of\n  // projecting a delta backwards (wrong-sign funding, or an ADL guard failure\n  // below).\n  if (trackersBehindPosition(position, trackers)) {\n    onGuarded?.();\n    return realized;\n  }\n\n  if (\n    oldMultiplier.lte(0) ||\n    multiplier.lt(0) ||\n    multiplier.gt(oldMultiplier) ||\n    unwind.lt(oldUnwind)\n  ) {\n    throw new SettlementTrackerError(\n      position.market_id.toString(),\n      'inconsistent',\n    );\n  }\n  const fundingCashflow = mulWad(\n    divWad(funding.minus(oldFunding), oldMultiplier),\n    base.negated(),\n  );\n  const unwindDelta = divWad(unwind.minus(oldUnwind), oldMultiplier);\n  const initialPrice = mulWad(\n    WAD.minus(divWad(multiplier, oldMultiplier)),\n    integer(position.last_price, 'position price'),\n  );\n  const adlCashflow = mulWad(base, unwindDelta.minus(initialPrice));\n  return realized.plus(fundingCashflow).plus(adlCashflow);\n}\n\n/**\n * Raw E18 funding on an open position since entry, as `averageEntryFundingValue`\n * tracks it in perpOB `propagateOrderToPerpPosition`: averaged in when the\n * position grows, unchanged on a reduce, reset on a reopen or flip. Funding has\n * already settled into the balance as it accrued; this attributes it to the\n * open position. Positive means the position earned funding.\n *\n * The stored base over the multiplier at the position's last update is the\n * same ratio as the ADL-adjusted base over the current multiplier, so no ADL\n * adjustment is needed. Market trackers behind the position's own snapshot\n * stand in with the position's funding value, as settlement does.\n */\nexport function calculatePositionFundingPnl(\n  position: RealizedBalancePosition & {\n    average_entry_funding_value: { toString(): string } | null;\n  },\n  trackers: RealizedBalanceTrackers | undefined,\n): BigNumber {\n  const base = integer(position.base, 'position base');\n  if (base.isZero()) return new BigNumber(0);\n  if (!trackers)\n    throw new SettlementTrackerError(position.market_id.toString(), 'missing');\n  const funding = trackersBehindPosition(position, trackers)\n    ? integer(position.funding_value, 'position funding')\n    : integer(\n        base.isPositive()\n          ? trackers.longTrackersFundingValue\n          : trackers.shortTrackersFundingValue,\n        'market funding',\n      );\n  const entry = integer(\n    position.average_entry_funding_value,\n    'average entry funding value',\n  );\n  const multiplier = integer(position.base_multiplier, 'position multiplier');\n  if (multiplier.lte(0)) {\n    throw new SettlementTrackerError(\n      position.market_id.toString(),\n      'inconsistent',\n    );\n  }\n  return mulWad(divWad(funding.minus(entry), multiplier), base.negated());\n}\n\n/**\n * Returns raw E18 PnL aligned to collateral units. The instrument floors EACH\n * market's PnL to quote-token precision before Core aggregates collateral info.\n * Funding is the stored market tracker delta; do not extrapolate it with time.\n */\nexport function calculateSettledAccountPnl(\n  positions: RealizedBalancePosition[],\n  trackers: Partial<Record<string, RealizedBalanceTrackers>>,\n  collateralDecimals: number,\n  onGuarded?: () => void,\n): BigNumber {\n  return positions.reduce((sum, position) => {\n    const pnl = calculateSettledPositionPnl(\n      position,\n      trackers[position.market_id.toString()],\n      onGuarded,\n    );\n    const rounded = pnl\n      .shiftedBy(collateralDecimals - 18)\n      .integerValue(BigNumber.ROUND_FLOOR)\n      .shiftedBy(18 - collateralDecimals);\n    return sum.plus(rounded);\n  }, new BigNumber(0));\n}\n"]}
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BigNumber from 'bignumber.js';\n\n/** Raw E18 position values, from either Prisma or replication. */\nexport type RealizedBalancePosition = {\n  market_id: { toString(): string };\n  base: { toString(): string } | null;\n  realized_pnl: { toString(): string } | null;\n  funding_value: { toString(): string } | null;\n  base_multiplier: { toString(): string } | null;\n  adl_unwind_price: { toString(): string } | null;\n  last_price: { toString(): string } | null;\n  /** Block the stored trackers were written at; lets stale market trackers be ignored. */\n  block_number?: { toString(): string } | null;\n};\n\nexport type RealizedBalanceTrackers = {\n  longTrackersFundingValue: string;\n  shortTrackersFundingValue: string;\n  longTrackersBaseMultiplier: string;\n  shortTrackersBaseMultiplier: string;\n  longTrackersAdlUnwindPrice: string;\n  shortTrackersAdlUnwindPrice: string;\n  /** Block the market trackers were observed at (optional; enables the staleness guard). */\n  blockNumber?: string | null;\n};\n\n/** Structured cause for service metrics; calculation still fails closed. */\nexport class SettlementTrackerError extends Error {\n  constructor(\n    public readonly marketId: string,\n    public readonly reason: 'missing' | 'inconsistent',\n  ) {\n    super(\n      reason === 'missing'\n        ? `Missing market trackers for ${marketId}`\n        : `Inconsistent ADL trackers for ${marketId}`,\n    );\n    // common targets ES5; restore Error subclass identity after downleveling.\n    Object.setPrototypeOf(this, new.target.prototype);\n    this.name = 'SettlementTrackerError';\n  }\n}\n\nconst WAD = new BigNumber('1000000000000000000');\nconst integer = (value: { toString(): string } | null, field: string) => {\n  const result = new BigNumber(value?.toString() ?? NaN);\n  if (!result.isInteger()) throw new Error(`Missing or invalid ${field}`);\n  return result;\n};\nconst optionalBlock = (value: { toString(): string } | null | undefined) => {\n  if (value === null || value === undefined) return undefined;\n  const result = new BigNumber(value.toString());\n  return result.isInteger() ? result : undefined;\n};\n/**\n * Market trackers older than the position's own snapshot carry nothing the\n * stored position does not already reflect. Off-chain tracker feeds can lag\n * the position stream.\n */\nexport function trackersBehindPosition(\n  position: Pick<RealizedBalancePosition, 'block_number'>,\n  trackers: Pick<RealizedBalanceTrackers, 'blockNumber'>,\n): boolean {\n  const positionBlock = optionalBlock(position.block_number);\n  const trackerBlock = optionalBlock(trackers.blockNumber);\n  return !!positionBlock && !!trackerBlock && positionBlock.gt(trackerBlock);\n}\n\n/**\n * The trackers to ADL-adjust a position's quantity with, guarded the way its\n * settlement is: behind the position, its own multiplier and unwind price stand in.\n */\nexport function positionAdjustmentTrackers<\n  T extends Pick<\n    RealizedBalanceTrackers,\n    | 'longTrackersBaseMultiplier'\n    | 'shortTrackersBaseMultiplier'\n    | 'longTrackersAdlUnwindPrice'\n    | 'shortTrackersAdlUnwindPrice'\n    | 'blockNumber'\n  >,\n>(\n  position: Pick<\n    RealizedBalancePosition,\n    'block_number' | 'base_multiplier' | 'adl_unwind_price'\n  >,\n  trackers: T,\n): T {\n  if (\n    !trackersBehindPosition(position, trackers) ||\n    position.base_multiplier === null ||\n    position.adl_unwind_price === null\n  )\n    return trackers;\n  const multiplier = position.base_multiplier.toString();\n  const unwind = position.adl_unwind_price.toString();\n  return {\n    ...trackers,\n    longTrackersBaseMultiplier: multiplier,\n    shortTrackersBaseMultiplier: multiplier,\n    longTrackersAdlUnwindPrice: unwind,\n    shortTrackersAdlUnwindPrice: unwind,\n  };\n}\n\nconst mulWad = (a: BigNumber, b: BigNumber) =>\n  a.times(b).dividedToIntegerBy(WAD);\nconst divWad = (a: BigNumber, b: BigNumber) =>\n  a.times(WAD).dividedToIntegerBy(b);\n\n/** Mirrors perpOB updatePerpPosition, including PRBMath truncation at each step. */\nexport function calculateSettledPositionPnl(\n  position: RealizedBalancePosition,\n  trackers: RealizedBalanceTrackers | undefined,\n  onGuarded?: () => void,\n): BigNumber {\n  const base = integer(position.base, 'position base');\n  const realized = integer(position.realized_pnl, 'realized PnL');\n  if (base.isZero()) return realized;\n  if (!trackers)\n    throw new SettlementTrackerError(position.market_id.toString(), 'missing');\n\n  const long = base.isPositive();\n  const funding = integer(\n    long\n      ? trackers.longTrackersFundingValue\n      : trackers.shortTrackersFundingValue,\n    'market funding',\n  );\n  const multiplier = integer(\n    long\n      ? trackers.longTrackersBaseMultiplier\n      : trackers.shortTrackersBaseMultiplier,\n    'market multiplier',\n  );\n  const unwind = integer(\n    long\n      ? trackers.longTrackersAdlUnwindPrice\n      : trackers.shortTrackersAdlUnwindPrice,\n    'market unwind price',\n  );\n  const oldMultiplier = integer(\n    position.base_multiplier,\n    'position multiplier',\n  );\n  const oldUnwind = integer(position.adl_unwind_price, 'position unwind price');\n  const oldFunding = integer(position.funding_value, 'position funding');\n  if (\n    funding.eq(oldFunding) &&\n    multiplier.eq(oldMultiplier) &&\n    unwind.eq(oldUnwind)\n  )\n    return realized;\n\n  // Market trackers older than the position's own snapshot carry no new\n  // cashflow: the stored realized PnL already settled everything up to the\n  // position's block. Treat that window as \"nothing accrued\" instead of\n  // projecting a delta backwards (wrong-sign funding, or an ADL guard failure\n  // below).\n  if (trackersBehindPosition(position, trackers)) {\n    onGuarded?.();\n    return realized;\n  }\n\n  if (\n    oldMultiplier.lte(0) ||\n    multiplier.lt(0) ||\n    multiplier.gt(oldMultiplier) ||\n    unwind.lt(oldUnwind)\n  ) {\n    throw new SettlementTrackerError(\n      position.market_id.toString(),\n      'inconsistent',\n    );\n  }\n  const fundingCashflow = mulWad(\n    divWad(funding.minus(oldFunding), oldMultiplier),\n    base.negated(),\n  );\n  const unwindDelta = divWad(unwind.minus(oldUnwind), oldMultiplier);\n  const initialPrice = mulWad(\n    WAD.minus(divWad(multiplier, oldMultiplier)),\n    integer(position.last_price, 'position price'),\n  );\n  const adlCashflow = mulWad(base, unwindDelta.minus(initialPrice));\n  return realized.plus(fundingCashflow).plus(adlCashflow);\n}\n\n/**\n * Raw E18 funding on an open position since its size last changed (a fill,\n * liquidation or ADL unwind): the funding Core settles into the position's\n * realized PnL at its next change (`computeFundingCashflow` in perpOB), from\n * the position's stored funding value to the market trackers. The settled\n * balance already counts it (`calculateSettledPositionPnl`), so this\n * attributes it to the position and must never be added to a balance.\n * Positive means the position received funding.\n *\n * The stored base over the stored multiplier is the same ratio as the\n * ADL-adjusted base over the current multiplier, so no ADL adjustment is\n * needed. Market trackers behind the position's own snapshot accrue nothing,\n * as in settlement.\n */\nexport function calculatePositionFundingSinceChange(\n  position: RealizedBalancePosition,\n  trackers: RealizedBalanceTrackers | undefined,\n): BigNumber {\n  const base = integer(position.base, 'position base');\n  if (base.isZero()) return new BigNumber(0);\n  if (!trackers)\n    throw new SettlementTrackerError(position.market_id.toString(), 'missing');\n  if (trackersBehindPosition(position, trackers)) return new BigNumber(0);\n  const funding = integer(\n    base.isPositive()\n      ? trackers.longTrackersFundingValue\n      : trackers.shortTrackersFundingValue,\n    'market funding',\n  );\n  const lastFunding = integer(position.funding_value, 'position funding');\n  const multiplier = integer(position.base_multiplier, 'position multiplier');\n  if (multiplier.lte(0)) {\n    throw new SettlementTrackerError(\n      position.market_id.toString(),\n      'inconsistent',\n    );\n  }\n  return mulWad(divWad(funding.minus(lastFunding), multiplier), base.negated());\n}\n\n/**\n * Returns raw E18 PnL aligned to collateral units. The instrument floors EACH\n * market's PnL to quote-token precision before Core aggregates collateral info.\n * Funding is the stored market tracker delta; do not extrapolate it with time.\n */\nexport function calculateSettledAccountPnl(\n  positions: RealizedBalancePosition[],\n  trackers: Partial<Record<string, RealizedBalanceTrackers>>,\n  collateralDecimals: number,\n  onGuarded?: () => void,\n): BigNumber {\n  return positions.reduce((sum, position) => {\n    const pnl = calculateSettledPositionPnl(\n      position,\n      trackers[position.market_id.toString()],\n      onGuarded,\n    );\n    const rounded = pnl\n      .shiftedBy(collateralDecimals - 18)\n      .integerValue(BigNumber.ROUND_FLOOR)\n      .shiftedBy(18 - collateralDecimals);\n    return sum.plus(rounded);\n  }, new BigNumber(0));\n}\n"]}

package/package.json

@@ -1,6 +1,6 @@
 {
   "name": "@reyaxyz/common",
-  "version": "0.377.0",
+  "version": "0.378.0",
   "publishConfig": {
     "access": "public",
     "registry": "https://registry.npmjs.org"
@@ -41,5 +41,5 @@
     "test:coverage": "npx jest test --coverage",
     "generate:coverage-badges": "npx istanbul-badges-readme --silent"
   },
-  "gitHead": "1c1471810f604478f33aa7459116f23fce1e7d6b"
+  "gitHead": "0c28fe6e02076bbbd2a49f39aefa357808a8f8ed"
 }

package/src/utils/realized-balance.ts

@@ -187,39 +187,35 @@ export function calculateSettledPositionPnl(
 }
 
 /**
- * Raw E18 funding on an open position since entry, as `averageEntryFundingValue`
- * tracks it in perpOB `propagateOrderToPerpPosition`: averaged in when the
- * position grows, unchanged on a reduce, reset on a reopen or flip. Funding has
- * already settled into the balance as it accrued; this attributes it to the
- * open position. Positive means the position earned funding.
+ * Raw E18 funding on an open position since its size last changed (a fill,
+ * liquidation or ADL unwind): the funding Core settles into the position's
+ * realized PnL at its next change (`computeFundingCashflow` in perpOB), from
+ * the position's stored funding value to the market trackers. The settled
+ * balance already counts it (`calculateSettledPositionPnl`), so this
+ * attributes it to the position and must never be added to a balance.
+ * Positive means the position received funding.
  *
- * The stored base over the multiplier at the position's last update is the
- * same ratio as the ADL-adjusted base over the current multiplier, so no ADL
- * adjustment is needed. Market trackers behind the position's own snapshot
- * stand in with the position's funding value, as settlement does.
+ * The stored base over the stored multiplier is the same ratio as the
+ * ADL-adjusted base over the current multiplier, so no ADL adjustment is
+ * needed. Market trackers behind the position's own snapshot accrue nothing,
+ * as in settlement.
  */
-export function calculatePositionFundingPnl(
-  position: RealizedBalancePosition & {
-    average_entry_funding_value: { toString(): string } | null;
-  },
+export function calculatePositionFundingSinceChange(
+  position: RealizedBalancePosition,
   trackers: RealizedBalanceTrackers | undefined,
 ): BigNumber {
   const base = integer(position.base, 'position base');
   if (base.isZero()) return new BigNumber(0);
   if (!trackers)
     throw new SettlementTrackerError(position.market_id.toString(), 'missing');
-  const funding = trackersBehindPosition(position, trackers)
-    ? integer(position.funding_value, 'position funding')
-    : integer(
-        base.isPositive()
-          ? trackers.longTrackersFundingValue
-          : trackers.shortTrackersFundingValue,
-        'market funding',
-      );
-  const entry = integer(
-    position.average_entry_funding_value,
-    'average entry funding value',
+  if (trackersBehindPosition(position, trackers)) return new BigNumber(0);
+  const funding = integer(
+    base.isPositive()
+      ? trackers.longTrackersFundingValue
+      : trackers.shortTrackersFundingValue,
+    'market funding',
   );
+  const lastFunding = integer(position.funding_value, 'position funding');
   const multiplier = integer(position.base_multiplier, 'position multiplier');
   if (multiplier.lte(0)) {
     throw new SettlementTrackerError(
@@ -227,7 +223,7 @@ export function calculatePositionFundingPnl(
       'inconsistent',
     );
   }
-  return mulWad(divWad(funding.minus(entry), multiplier), base.negated());
+  return mulWad(divWad(funding.minus(lastFunding), multiplier), base.negated());
 }
 
 /**