@velocity-exchange/sdk 0.0.1

package/tests/amm/test.ts

@@ -0,0 +1,2095 @@
+import {
+	BN,
+	PEG_PRECISION,
+	PRICE_PRECISION,
+	AMM_RESERVE_PRECISION,
+	QUOTE_PRECISION,
+	PERCENTAGE_PRECISION,
+	calculateSpread,
+	calculateSpreadBN,
+	ZERO,
+	sigNum,
+	ONE,
+	calculateLiveOracleStd,
+	calculateLiveOracleTwap,
+	calculateInventoryScale,
+	calculateAllEstimatedFundingRate,
+	calculateLongShortFundingRateAndLiveTwaps,
+	getVammL2Generator,
+	BASE_PRECISION,
+	PerpMarketAccount,
+	L2Level,
+	calculateUpdatedAMM,
+	calculateMarketOpenBidAsk,
+	calculateSpreadReserves,
+	calculatePrice,
+	BID_ASK_SPREAD_PRECISION,
+	squareRootBN,
+	calculateReferencePriceOffset,
+	calculateInventoryLiquidityRatio,
+	ContractTier,
+	isOracleValid,
+	OracleGuardRails,
+	getNewOracleConfPct,
+	MMOraclePriceData,
+	OraclePriceData,
+	// calculateReservePrice,
+} from '../../src';
+import { mockPerpMarkets } from '../dlob/helpers';
+
+import { assert } from '../../src/assert/assert';
+import * as _ from 'lodash';
+
+class AMMSpreadTerms {
+	longVolSpread: number;
+	shortVolSpread: number;
+	longSpreadwPS: number;
+	shortSpreadwPS: number;
+	maxTargetSpread: number;
+	inventorySpreadScale: number;
+	longSpreadwInvScale: number;
+	shortSpreadwInvScale: number;
+	effectiveLeverage: number;
+	effectiveLeverageCapped: number;
+	longSpreadwEL: number;
+	shortSpreadwEL: number;
+	revenueRetreatAmount: number;
+	halfRevenueRetreatAmount: number;
+	longSpreadwRevRetreat: number;
+	shortSpreadwRevRetreat: number;
+	totalSpread: number;
+	longSpread: number;
+	shortSpread: number;
+}
+
+describe('AMM Tests', () => {
+	it('Spread Maths', () => {
+		let iscale = calculateInventoryScale(
+			ZERO,
+			AMM_RESERVE_PRECISION,
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION.mul(new BN(3)).div(new BN(2)),
+			250,
+			30000
+		);
+		assert(iscale == 1);
+
+		iscale = calculateInventoryScale(
+			ONE,
+			AMM_RESERVE_PRECISION,
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION.mul(new BN(3)).div(new BN(2)),
+			250,
+			30000
+		);
+		assert(iscale == 1);
+
+		let baa = new BN(1000);
+		iscale = calculateInventoryScale(
+			baa,
+			AMM_RESERVE_PRECISION.add(baa),
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION.mul(new BN(3)).div(new BN(2)),
+			250,
+			30000
+		);
+		console.log(iscale);
+		assert(iscale == 1.00024);
+
+		baa = new BN(100000);
+		iscale = calculateInventoryScale(
+			baa,
+			AMM_RESERVE_PRECISION.add(baa),
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION.mul(new BN(3)).div(new BN(2)),
+			250,
+			30000
+		);
+		console.log(iscale);
+		assert(iscale == 1.024);
+
+		baa = new BN(1000000);
+		iscale = calculateInventoryScale(
+			baa,
+			AMM_RESERVE_PRECISION.add(baa),
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION.mul(new BN(3)).div(new BN(2)),
+			250,
+			30000
+		);
+		console.log(iscale);
+		assert(iscale == 1.24048);
+
+		baa = new BN(10000000); // 2%
+		iscale = calculateInventoryScale(
+			baa,
+			AMM_RESERVE_PRECISION.add(baa),
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION.mul(new BN(3)).div(new BN(2)),
+			250,
+			30000
+		);
+		console.log(iscale);
+		assert(iscale == 3.44896);
+
+		baa = new BN(50000000); // 10%
+		iscale = calculateInventoryScale(
+			baa,
+			AMM_RESERVE_PRECISION.add(baa),
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION.mul(new BN(3)).div(new BN(2)),
+			250,
+			30000
+		);
+		console.log(iscale);
+		assert(iscale == 14.33332);
+
+		baa = AMM_RESERVE_PRECISION.div(new BN(4)); // 50%
+		iscale = calculateInventoryScale(
+			baa,
+			AMM_RESERVE_PRECISION.add(baa),
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION.mul(new BN(3)).div(new BN(2)),
+			250,
+			30000
+		);
+		console.log(iscale);
+		assert(iscale == 120); //100%
+
+		baa = AMM_RESERVE_PRECISION.div(new BN(4)); // 50%
+		iscale = calculateInventoryScale(
+			baa,
+			AMM_RESERVE_PRECISION.add(baa),
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION.mul(new BN(3)).div(new BN(2)),
+			250,
+			30000 * 2
+		);
+		console.log(iscale);
+		assert(iscale == 120 * 2); //100%
+
+		baa = AMM_RESERVE_PRECISION.div(new BN(5)); // <50%
+		iscale = calculateInventoryScale(
+			baa,
+			AMM_RESERVE_PRECISION.add(baa),
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION.mul(new BN(3)).div(new BN(2)),
+			250,
+			30000 * 2
+		);
+		assert(iscale == 160.99984);
+
+		baa = new BN(855329058);
+		iscale = calculateInventoryScale(
+			baa,
+			AMM_RESERVE_PRECISION.add(baa),
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION,
+			250,
+			30000
+		); // >100%
+		assert(iscale == 120);
+		assert(250 * iscale == 30000);
+
+		iscale = calculateInventoryScale(
+			baa,
+			AMM_RESERVE_PRECISION.add(baa), // ~85%
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION.mul(new BN(3)).div(new BN(2)),
+			250,
+			30000
+		);
+		assert(iscale == 120);
+		assert(250 * iscale == 30000);
+
+		baa = new BN(-855329058); // ~85%
+		iscale = calculateInventoryScale(
+			baa,
+			AMM_RESERVE_PRECISION.add(baa),
+			AMM_RESERVE_PRECISION.div(new BN(2)),
+			AMM_RESERVE_PRECISION.mul(new BN(3)).div(new BN(2)),
+			250,
+			30000
+		);
+		assert(iscale == 120);
+		assert(250 * iscale == 30000);
+
+		// 'bonk' scale
+		iscale = calculateInventoryScale(
+			new BN('30228000000000000'),
+			new BN('2496788386034912600'),
+			new BN('2443167585342470000'),
+			new BN('2545411471321696000'),
+			3500,
+			100000
+		);
+		console.log(iscale);
+		console.log((3500 * iscale) / 1e6);
+		assert(iscale == 18.762285);
+		assert((3500 * iscale) / 1e6 == 0.06566799749999999); //6.5%
+	});
+
+	it('Various Spreads', () => {
+		const baseSpread: number = 0.025 * 1e6;
+		const lastOracleReservePriceSpreadPct: BN = ZERO;
+		const lastOracleConfPct: BN = ZERO;
+		const maxSpread: number = 0.03 * 1e6;
+		const quoteAssetReserve: BN = new BN(
+			AMM_RESERVE_PRECISION.toNumber() * 100
+		);
+		const terminalQuoteAssetReserve: BN = new BN(
+			AMM_RESERVE_PRECISION.toNumber() * 100
+		);
+		const pegMultiplier: BN = new BN(13.455 * PEG_PRECISION.toNumber());
+		const baseAssetAmountWithAmm: BN = ZERO;
+		const reservePrice: BN = new BN(13.455 * PRICE_PRECISION.toNumber());
+		const totalFeeMinusDistributions: BN = new BN(1);
+		const netRevenueSinceLastFunding: BN = new BN(
+			QUOTE_PRECISION.toNumber() * 2
+		);
+		const baseAssetReserve: BN = new BN(AMM_RESERVE_PRECISION.toNumber() * 100);
+		const minBaseAssetReserve: BN = new BN(
+			AMM_RESERVE_PRECISION.toNumber() * 90
+		);
+		const maxBaseAssetReserve: BN = new BN(
+			AMM_RESERVE_PRECISION.toNumber() * 110
+		);
+		const markStd: BN = new BN(0.45 * PRICE_PRECISION.toNumber());
+		const oracleStd: BN = new BN(0.55 * PRICE_PRECISION.toNumber());
+		const longIntensity: BN = new BN(QUOTE_PRECISION.toNumber() * 20);
+		const shortIntensity: BN = new BN(QUOTE_PRECISION.toNumber() * 2);
+		const volume24H: BN = new BN(QUOTE_PRECISION.toNumber() * 25);
+
+		const spreads = calculateSpreadBN(
+			baseSpread,
+			lastOracleReservePriceSpreadPct,
+			lastOracleConfPct,
+			maxSpread,
+			quoteAssetReserve,
+			terminalQuoteAssetReserve,
+			pegMultiplier,
+			baseAssetAmountWithAmm,
+			reservePrice,
+			totalFeeMinusDistributions,
+			netRevenueSinceLastFunding,
+			baseAssetReserve,
+			minBaseAssetReserve,
+			maxBaseAssetReserve,
+			markStd,
+			oracleStd,
+			longIntensity,
+			shortIntensity,
+			volume24H,
+			0
+		);
+		const l1 = spreads[0];
+		const s1 = spreads[1];
+
+		// eslint-disable-next-line @typescript-eslint/ban-ts-comment
+		// @ts-ignore
+		const terms1: AMMSpreadTerms = calculateSpreadBN(
+			baseSpread,
+			lastOracleReservePriceSpreadPct,
+			lastOracleConfPct,
+			maxSpread,
+			quoteAssetReserve,
+			terminalQuoteAssetReserve,
+			pegMultiplier,
+			baseAssetAmountWithAmm,
+			reservePrice,
+			totalFeeMinusDistributions,
+			netRevenueSinceLastFunding,
+			baseAssetReserve,
+			minBaseAssetReserve,
+			maxBaseAssetReserve,
+			markStd,
+			oracleStd,
+			longIntensity,
+			shortIntensity,
+			volume24H,
+			0,
+			true
+		);
+		// console.log(terms1);
+
+		console.log('long/short spread:', l1, s1);
+		assert(l1 == 12500);
+		assert(s1 == 12500);
+		assert(l1 == terms1.longSpread);
+		assert(s1 == terms1.shortSpread);
+
+		// eslint-disable-next-line @typescript-eslint/ban-ts-comment
+		// @ts-ignore
+		const terms2: AMMSpreadTerms = calculateSpreadBN(
+			300,
+			new BN(0),
+			new BN(484),
+			47500,
+			new BN(923807816209694),
+			new BN(925117623772584),
+			new BN(13731157),
+			new BN(-1314027016625),
+			new BN(13667686),
+			new BN(115876379475),
+			new BN(91316628),
+			new BN(928097825691666),
+			new BN(907979542352912),
+			new BN(945977491145601),
+			new BN(161188), // mark std
+			new BN(145963), // oracle std
+			new BN(12358265776),
+			new BN(72230366233),
+			new BN(432067603632),
+			0,
+			true
+		);
+
+		assert(terms2.effectiveLeverageCapped >= 1.0002);
+		assert(terms2.inventorySpreadScale == 8.443219);
+		assert(terms2.longSpread == 150);
+		assert(terms2.shortSpread == 3960);
+
+		// add spread offset
+		// eslint-disable-next-line @typescript-eslint/ban-ts-comment
+		// @ts-ignore
+		const terms3: AMMSpreadTerms = calculateSpreadBN(
+			300,
+			new BN(0),
+			new BN(484),
+			47500,
+			new BN(923807816209694),
+			new BN(925117623772584),
+			new BN(13731157),
+			new BN(-1314027016625),
+			new BN(13667686),
+			new BN(115876379475),
+			new BN(91316628),
+			new BN(928097825691666),
+			new BN(907979542352912),
+			new BN(945977491145601),
+			new BN(161188),
+			new BN(145963), // oracle std
+			new BN(12358265776),
+			new BN(72230366233),
+			new BN(432067603632),
+			0,
+			true
+		);
+
+		// console.log(terms3);
+		assert(terms3.effectiveLeverageCapped >= 1.0002);
+		assert(terms3.inventorySpreadScale == 8.443219);
+		assert(terms3.longSpread == 150);
+		assert(terms3.shortSpread == 3960);
+		assert(terms3.longSpread + terms3.shortSpread == 3960 + 150);
+
+		// add spread offset
+		// eslint-disable-next-line @typescript-eslint/ban-ts-comment
+		// @ts-ignore
+		const terms4: AMMSpreadTerms = calculateSpreadBN(
+			300,
+			new BN(0),
+			new BN(484),
+			47500,
+			new BN(923807816209694),
+			new BN(925117623772584),
+			new BN(13731157),
+			new BN(-1314027016625),
+			new BN(13667686),
+			new BN(115876379475),
+			new BN(91316628),
+			new BN(928097825691666),
+			new BN(907979542352912),
+			new BN(945977491145601),
+			new BN(161188),
+			new BN(1459632439), // oracle std (unchanged)
+			new BN(12358265776),
+			new BN(72230366233),
+			new BN(432067603632),
+			0,
+			true
+		);
+
+		assert(terms4.effectiveLeverageCapped >= 1.0002);
+		assert(terms4.inventorySpreadScale == 1.73492);
+		assert(terms4.longSpread == 89746);
+		assert(terms4.shortSpread == 910254);
+		assert(terms4.longSpread + terms4.shortSpread == 1000000);
+	});
+
+	it('Corner Case Spreads', () => {
+		// eslint-disable-next-line @typescript-eslint/ban-ts-comment
+		// @ts-ignore
+		const terms2: AMMSpreadTerms = calculateSpreadBN(
+			1000,
+			new BN(5555),
+			new BN(1131),
+			20000,
+			new BN(1009967115003047),
+			new BN(1009811402660255),
+			new BN(13460124),
+			new BN(15328930153),
+			new BN(13667686),
+			new BN(1235066973),
+			new BN(88540713),
+			new BN(994097717724176),
+			new BN(974077854655784),
+			new BN(1014841945381208),
+			new BN(103320),
+			new BN(59975),
+			new BN(768323534),
+			new BN(243875031),
+			new BN(130017761029),
+			0,
+			true
+		);
+
+		assert(terms2.effectiveLeverageCapped <= 1.000001);
+		assert(terms2.inventorySpreadScale == 1.0306);
+		assert(terms2.longSpread == 515);
+		assert(terms2.shortSpread == 5611);
+
+		const suiExample = {
+			status: 'active',
+			contractType: 'perpetual',
+			contractTier: 'c',
+			expiryTs: '0',
+			expiryPrice: '0',
+			marketIndex: 9,
+			pubkey: '91NsaUmTNNdLGbYtwmoiYSn9SgWHCsZiChfMYMYZ2nQx',
+			name: 'SUI-PERP',
+			amm: {
+				baseAssetReserve: '234381482764434',
+				sqrtK: '109260723000000001',
+				lastFundingRate: '-16416',
+				lastFundingRateTs: '1705845755',
+				lastMarkPriceTwap: '1105972',
+				lastMarkPriceTwap5Min: '1101202',
+				lastMarkPriceTwapTs: '1705846920',
+				lastTradeTs: '1705846920',
+				oracle: '3Qub3HaAJaa2xNY7SUqPKd3vVwTqDfDDkEUMPjXD2c1q',
+				oracleSource: 'pyth',
+				historicalOracleData: {
+					lastOraclePrice: '1099778',
+					lastOracleDelay: '2',
+					lastOracleConf: '0',
+					lastOraclePriceTwap: '1106680',
+					lastOraclePriceTwap5Min: '1102634',
+					lastOraclePriceTwapTs: '1705846920',
+				},
+				lastOracleReservePriceSpreadPct: '-262785',
+				lastOracleConfPct: '1359',
+				fundingPeriod: '3600',
+				quoteAssetReserve: '50933655038273508156',
+				pegMultiplier: '4',
+				cumulativeFundingRateLong: '186069301',
+				cumulativeFundingRateShort: '186007157',
+				last24HAvgFundingRate: '35147',
+				lastFundingRateShort: '-16416',
+				lastFundingRateLong: '-16416',
+				totalLiquidationFee: '4889264000',
+				totalFeeMinusDistributions: '-29523583393',
+				totalFeeWithdrawn: '5251194706',
+				totalFee: '7896066035',
+				totalFeeEarnedPerLp: '77063238',
+				orderStepSize: '1000000000',
+				orderTickSize: '100',
+				maxFillReserveFraction: '100',
+				maxSlippageRatio: '50',
+				baseSpread: '5000',
+				curveUpdateIntensity: '100',
+				baseAssetAmountWithAmm: '306519581',
+				baseAssetAmountLong: '223405000000000',
+				baseAssetAmountShort: '-224167000000000',
+				quoteAssetAmount: '57945607973',
+				terminalQuoteAssetReserve: '50933588428309274920',
+				concentrationCoef: '1207100',
+				feePool: '[object Object]',
+				totalExchangeFee: '10110336057',
+				totalMmFee: '-1870961568',
+				netRevenueSinceLastFunding: '-141830281',
+				lastUpdateSlot: '243204071',
+				lastOracleNormalisedPrice: '1098594',
+				lastOracleValid: 'true',
+				lastBidPriceTwap: '1105864',
+				lastAskPriceTwap: '1106081',
+				longSpread: '259471',
+				shortSpread: '3314',
+				maxSpread: '29500',
+				ammJitIntensity: '200',
+				maxOpenInterest: '2000000000000000',
+				maxBaseAssetReserve: '282922257844734',
+				minBaseAssetReserve: '194169322578092',
+				totalSocialLoss: '0',
+				quoteBreakEvenAmountLong: '-237442196125',
+				quoteBreakEvenAmountShort: '243508341566',
+				quoteEntryAmountLong: '-234074123777',
+				quoteEntryAmountShort: '240215285058',
+				markStd: '237945',
+				oracleStd: '8086',
+				longIntensityCount: '0',
+				longIntensityVolume: '162204',
+				shortIntensityCount: '995',
+				shortIntensityVolume: '2797331131',
+				volume24H: '91370028405',
+				minOrderSize: '1000000000',
+				maxPositionSize: '0',
+				bidBaseAssetReserve: '234770820775670',
+				bidQuoteAssetReserve: '50849187948657797529',
+				askBaseAssetReserve: '205083797418879',
+				askQuoteAssetReserve: '58209891472312580749',
+			},
+			numberOfUsersWithBase: '279',
+			numberOfUsers: '436',
+			marginRatioInitial: '1000',
+			marginRatioMaintenance: '500',
+			nextFillRecordId: '69433',
+			nextFundingRateRecordId: '6221',
+			nextCurveRecordId: '1731',
+			pnlPool: {
+				scaledBalance: '61514197782399',
+				marketIndex: '0',
+			},
+			liquidatorFee: '10000',
+			ifLiquidationFee: '20000',
+			imfFactor: '450',
+			unrealizedPnlImfFactor: '450',
+			unrealizedPnlMaxImbalance: '200000000',
+			unrealizedPnlInitialAssetWeight: '0',
+			unrealizedPnlMaintenanceAssetWeight: '10000',
+			insuranceClaim: {
+				revenueWithdrawSinceLastSettle: '100000000',
+				maxRevenueWithdrawPerPeriod: '100000000',
+				lastRevenueWithdrawTs: '1705846454',
+				quoteSettledInsurance: '164388488',
+				quoteMaxInsurance: '1000000000',
+			},
+			quoteSpotMarketIndex: '0',
+			feeAdjustment: '0',
+		};
+
+		const reservePrice = calculatePrice(
+			new BN(suiExample.amm.baseAssetReserve),
+			new BN(suiExample.amm.quoteAssetReserve),
+			new BN(suiExample.amm.pegMultiplier)
+		);
+		console.log('reservePrice', reservePrice.toString());
+		assert(reservePrice.eq(new BN('869243')));
+
+		const reservePriceMod = calculatePrice(
+			new BN(suiExample.amm.baseAssetReserve),
+			new BN(suiExample.amm.quoteAssetReserve),
+			new BN(suiExample.amm.pegMultiplier).add(ONE)
+		);
+		console.log('reservePriceMod', reservePriceMod.toString());
+		assert(reservePriceMod.eq(new BN('1086554')));
+
+		// eslint-disable-next-line @typescript-eslint/ban-ts-comment
+		// @ts-ignore
+		const termsSuiExample: AMMSpreadTerms = calculateSpreadBN(
+			Number(suiExample.amm.baseSpread.toString()),
+			new BN(suiExample.amm.lastOracleReservePriceSpreadPct),
+			new BN(suiExample.amm.lastOracleConfPct),
+			Number(suiExample.amm.maxSpread.toString()),
+			new BN(suiExample.amm.quoteAssetReserve),
+			new BN(suiExample.amm.terminalQuoteAssetReserve),
+			new BN(suiExample.amm.pegMultiplier),
+			new BN(suiExample.amm.baseAssetAmountWithAmm),
+			reservePrice, // reserve price
+			new BN(suiExample.amm.totalFeeMinusDistributions),
+			new BN(suiExample.amm.netRevenueSinceLastFunding),
+			new BN(suiExample.amm.baseAssetReserve),
+			new BN(suiExample.amm.minBaseAssetReserve),
+			new BN(suiExample.amm.maxBaseAssetReserve),
+			new BN(suiExample.amm.markStd),
+			new BN(suiExample.amm.oracleStd),
+			new BN(suiExample.amm.longIntensityVolume),
+			new BN(suiExample.amm.shortIntensityVolume),
+			new BN(suiExample.amm.volume24H),
+			0,
+			true
+		);
+
+		assert(termsSuiExample.effectiveLeverageCapped <= 1.000001);
+		assert(termsSuiExample.inventorySpreadScale == 1.00007);
+		assert(
+			termsSuiExample.longSpread == 269813,
+			`SUI long spread got ${termsSuiExample.longSpread}`
+		);
+		assert(
+			termsSuiExample.shortSpread == 3925,
+			`SUI short spread got ${termsSuiExample.shortSpread}`
+		);
+
+		// reset amm reserves/peg to balanced values s.t. liquidity/price is the same
+		// to avoid error prone int math
+
+		// eslint-disable-next-line @typescript-eslint/ban-ts-comment
+		// @ts-ignore
+		const termsSuiExampleMod1: AMMSpreadTerms = calculateSpreadBN(
+			Number(suiExample.amm.baseSpread.toString()),
+			ZERO,
+			new BN(suiExample.amm.lastOracleConfPct),
+			Number(suiExample.amm.maxSpread.toString()),
+			new BN(suiExample.amm.quoteAssetReserve),
+			new BN(suiExample.amm.terminalQuoteAssetReserve),
+			new BN(suiExample.amm.pegMultiplier),
+			new BN(suiExample.amm.baseAssetAmountWithAmm),
+			reservePriceMod, // reserve price
+			new BN(suiExample.amm.totalFeeMinusDistributions),
+			new BN(suiExample.amm.netRevenueSinceLastFunding),
+			new BN(suiExample.amm.baseAssetReserve),
+			new BN(suiExample.amm.minBaseAssetReserve),
+			new BN(suiExample.amm.maxBaseAssetReserve),
+			new BN(suiExample.amm.markStd),
+			new BN(suiExample.amm.oracleStd),
+			new BN(suiExample.amm.longIntensityVolume),
+			new BN(suiExample.amm.shortIntensityVolume),
+			new BN(suiExample.amm.volume24H),
+			0,
+			true
+		);
+		console.log(termsSuiExampleMod1);
+
+		// todo: add sdk recenter function?
+
+		// eslint-disable-next-line @typescript-eslint/ban-ts-comment
+		// @ts-ignore
+		const termsSuiExampleMod2: AMMSpreadTerms = calculateSpreadBN(
+			Number(suiExample.amm.baseSpread.toString()),
+			ZERO,
+			new BN(suiExample.amm.lastOracleConfPct),
+			Number(suiExample.amm.maxSpread.toString()),
+			new BN(suiExample.amm.sqrtK),
+			new BN(suiExample.amm.terminalQuoteAssetReserve),
+			reservePriceMod, // peg
+			new BN(suiExample.amm.baseAssetAmountWithAmm),
+			reservePriceMod, // reserve price
+			new BN(suiExample.amm.totalFeeMinusDistributions),
+			new BN(suiExample.amm.netRevenueSinceLastFunding),
+			new BN(suiExample.amm.sqrtK),
+			new BN(suiExample.amm.sqrtK),
+			new BN(suiExample.amm.maxBaseAssetReserve),
+			new BN(suiExample.amm.markStd),
+			new BN(suiExample.amm.oracleStd),
+			new BN(suiExample.amm.longIntensityVolume),
+			new BN(suiExample.amm.shortIntensityVolume),
+			new BN(suiExample.amm.volume24H),
+			0,
+			true
+		);
+
+		console.log(termsSuiExampleMod2);
+		assert(
+			_.isEqual(
+				termsSuiExampleMod2.maxTargetSpread,
+				termsSuiExampleMod1.maxTargetSpread
+			)
+		);
+		assert(
+			_.isEqual(
+				termsSuiExampleMod2.shortSpreadwPS,
+				termsSuiExampleMod1.shortSpreadwPS
+			)
+		);
+		assert(
+			_.isEqual(
+				termsSuiExampleMod2.longSpreadwPS,
+				termsSuiExampleMod1.longSpreadwPS
+			)
+		);
+
+		// note: effectiveLeverage as currently implemented is sensitive to peg change
+	});
+
+	it('Spread Reserves (with 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,
+			isMMOracleActive: true,
+		} as MMOraclePriceData;
+
+		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: BN | undefined = 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[0].baseAssetReserve.toString());
+		console.log(reserves2[0].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)
+		);
+		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)));
+		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('1100068201')));
+		assert(reserves3[0].quoteAssetReserve.eq(new BN('909034546')));
+		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
+		);
+
+		assert(p1.eq(new BN(11199437)));
+		assert(p2.eq(new BN(13828180)));
+
+		mockAmm.curveUpdateIntensity = 110;
+		const reserves4 = calculateSpreadReserves(mockAmm, oraclePriceData, now);
+
+		assert(reserves4[0].baseAssetReserve.eq(new BN('1100068201')));
+		assert(reserves4[0].quoteAssetReserve.eq(new BN('909034546')));
+		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
+		);
+
+		assert(p1RF.eq(new BN(11199437)));
+		assert(p2RF.eq(new BN(13828180)));
+		// no ref price offset at 100
+		mockAmm.curveUpdateIntensity = 100;
+		const reserves5 = calculateSpreadReserves(mockAmm, oraclePriceData, now);
+
+		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
+		);
+
+		assert(p1RFNone.eq(new BN(11199437)));
+		assert(p2RFNone.eq(new BN(13828180)));
+		assert(p1RF.sub(p1RFNone).eq(new BN(0)));
+		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,
+			isMMOracleActive: true,
+		} as MMOraclePriceData;
+
+		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)
+		);
+		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[0].baseAssetReserve.toString());
+		console.log(reserves3[0].quoteAssetReserve.toString());
+
+		assert(reserves3[0].baseAssetReserve.eq(new BN('999999998')));
+		assert(reserves3[0].quoteAssetReserve.eq(new BN('1000000000')));
+		assert(reserves3[1].baseAssetReserve.eq(new BN('909034547')));
+		assert(reserves3[1].quoteAssetReserve.eq(new BN('1100068200')));
+
+		const p1 = calculatePrice(
+			reserves3[0].baseAssetReserve,
+			reserves3[0].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+
+		const p2 = calculatePrice(
+			reserves3[1].baseAssetReserve,
+			reserves3[1].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+
+		assert(p1.eq(new BN(13553000)));
+		assert(p2.eq(new BN(16401163)));
+
+		mockAmm.curveUpdateIntensity = 110;
+		const reserves4 = calculateSpreadReserves(mockAmm, oraclePriceData, now);
+
+		assert(reserves4[0].baseAssetReserve.eq(new BN('999999998')));
+		assert(reserves4[0].quoteAssetReserve.eq(new BN('1000000000')));
+		assert(reserves4[1].baseAssetReserve.eq(new BN('909034547')));
+		assert(reserves4[1].quoteAssetReserve.eq(new BN('1100068200')));
+
+		const p1RF = calculatePrice(
+			reserves4[0].baseAssetReserve,
+			reserves4[0].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+
+		const p2RF = calculatePrice(
+			reserves4[1].baseAssetReserve,
+			reserves4[1].quoteAssetReserve,
+			mockAmm.pegMultiplier
+		);
+
+		assert(p1RF.eq(new BN(13553000)));
+		assert(p2RF.eq(new BN(16401163)));
+
+		// no ref price offset at 100
+		mockAmm.curveUpdateIntensity = 100;
+		const reserves5 = calculateSpreadReserves(mockAmm, oraclePriceData, now);
+
+		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
+		);
+
+		const rr = p2RF.sub(p2RFNone).mul(PERCENTAGE_PRECISION).div(p2RF);
+		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(0)));
+	});
+
+	it('live update functions', () => {
+		const myMockPerpMarkets = _.cloneDeep(mockPerpMarkets);
+		const mockMarket1 = myMockPerpMarkets[0];
+		const mockAmm = mockMarket1.amm;
+		const now = new BN(new Date().getTime() / 1000); //todo
+		const slot = 999999999;
+
+		const oraclePriceData = {
+			price: new BN(13.553 * PRICE_PRECISION.toNumber()),
+			slot: new BN(slot),
+			confidence: new BN(1000),
+			hasSufficientNumberOfDataPoints: true,
+			isMMOracleActive: true,
+		} as MMOraclePriceData;
+		mockAmm.oracleStd = new BN(0.18 * PRICE_PRECISION.toNumber());
+		mockAmm.fundingPeriod = new BN(3600);
+		mockAmm.historicalOracleData.lastOraclePriceTwap = oraclePriceData.price
+			.mul(new BN(999))
+			.div(new BN(1000));
+		mockAmm.historicalOracleData.lastOraclePriceTwapTs = now.sub(new BN(11));
+
+		const liveOracleTwap = calculateLiveOracleTwap(
+			mockAmm.historicalOracleData,
+			oraclePriceData,
+			now,
+			mockAmm.fundingPeriod
+		);
+		console.log('liveOracleTwap:', liveOracleTwap.toNumber());
+		assert(liveOracleTwap.eq(new BN(13539488)));
+
+		const liveOracleStd = calculateLiveOracleStd(mockAmm, oraclePriceData, now);
+		assert(liveOracleStd.eq(new BN(13732450)));
+
+		mockAmm.lastOracleConfPct = new BN(150000);
+		const reservePrice = new BN(13.553 * PRICE_PRECISION.toNumber());
+		const newConfPct = getNewOracleConfPct(
+			mockAmm,
+			oraclePriceData,
+			reservePrice,
+			now
+		);
+		console.log('newConfPct:', newConfPct.toString());
+
+		assert(
+			now.sub(mockAmm.historicalOracleData.lastOraclePriceTwapTs).gt(ZERO)
+		);
+
+		assert(newConfPct.eq(new BN(135000)));
+
+		const oracleGuardRails: OracleGuardRails = {
+			priceDivergence: {
+				markOraclePercentDivergence: PERCENTAGE_PRECISION.divn(10),
+				oracleTwap5MinPercentDivergence: PERCENTAGE_PRECISION.divn(10),
+			},
+			validity: {
+				slotsBeforeStaleForAmm: new BN(10),
+				slotsBeforeStaleForMargin: new BN(60),
+				confidenceIntervalMaxSize: new BN(20000),
+				tooVolatileRatio: new BN(5),
+			},
+		};
+
+		// good oracle
+		assert(
+			isOracleValid(mockMarket1, oraclePriceData, oracleGuardRails, slot + 5)
+		);
+
+		// conf too high
+		assert(
+			!isOracleValid(
+				mockMarket1,
+				{
+					price: new BN(13.553 * PRICE_PRECISION.toNumber()),
+					slot: new BN(slot),
+					confidence: new BN(13.553 * PRICE_PRECISION.toNumber() * 0.021),
+					hasSufficientNumberOfDataPoints: true,
+					isMMOracleActive: true,
+				} as MMOraclePriceData,
+				oracleGuardRails,
+				slot
+			)
+		);
+
+		// not hasSufficientNumberOfDataPoints
+		assert(
+			!isOracleValid(
+				mockMarket1,
+				{
+					price: new BN(13.553 * PRICE_PRECISION.toNumber()),
+					slot: new BN(slot),
+					confidence: new BN(1),
+					hasSufficientNumberOfDataPoints: false,
+					isMMOracleActive: true,
+				} as MMOraclePriceData,
+				oracleGuardRails,
+				slot
+			)
+		);
+
+		// negative oracle price
+		assert(
+			!isOracleValid(
+				mockMarket1,
+				{
+					price: new BN(-1 * PRICE_PRECISION.toNumber()),
+					slot: new BN(slot),
+					confidence: new BN(1),
+					hasSufficientNumberOfDataPoints: true,
+					isMMOracleActive: true,
+				} as MMOraclePriceData,
+				oracleGuardRails,
+				slot
+			)
+		);
+
+		// too delayed for amm
+		assert(
+			!isOracleValid(
+				mockMarket1,
+				{
+					price: new BN(13.553 * PRICE_PRECISION.toNumber()),
+					slot: new BN(slot),
+					confidence: new BN(1),
+					hasSufficientNumberOfDataPoints: true,
+					isMMOracleActive: true,
+				} as MMOraclePriceData,
+				oracleGuardRails,
+				slot + 100
+			)
+		);
+
+		// im passing stale slot (should not call oracle invalid)
+		assert(
+			isOracleValid(
+				mockMarket1,
+				{
+					price: new BN(13.553 * PRICE_PRECISION.toNumber()),
+					slot: new BN(slot + 100),
+					confidence: new BN(1),
+					hasSufficientNumberOfDataPoints: true,
+					isMMOracleActive: true,
+				} as MMOraclePriceData,
+				oracleGuardRails,
+				slot
+			)
+		);
+
+		// too volatile (more than 5x higher)
+		assert(
+			!isOracleValid(
+				mockMarket1,
+				{
+					price: new BN(113.553 * PRICE_PRECISION.toNumber()),
+					slot: new BN(slot + 5),
+					confidence: new BN(1),
+					hasSufficientNumberOfDataPoints: true,
+					isMMOracleActive: true,
+				} as MMOraclePriceData,
+				oracleGuardRails,
+				slot
+			)
+		);
+
+		// too volatile (more than 1/5 lower)
+		assert(
+			!isOracleValid(
+				mockMarket1,
+				{
+					price: new BN(0.553 * PRICE_PRECISION.toNumber()),
+					slot: new BN(slot + 5),
+					confidence: new BN(1),
+					hasSufficientNumberOfDataPoints: true,
+					isMMOracleActive: true,
+				} as MMOraclePriceData,
+				oracleGuardRails,
+				slot
+			)
+		);
+	});
+
+	it('predicted funding rate mock1', () => {
+		const myMockPerpMarkets = _.cloneDeep(mockPerpMarkets);
+		const mockMarket1 = myMockPerpMarkets[0];
+
+		// make it like RNDR
+		const now = new BN(1688878353);
+
+		mockMarket1.amm.fundingPeriod = new BN(3600);
+		mockMarket1.amm.lastFundingRateTs = new BN(1688860817);
+
+		const currentMarkPrice = new BN(1.9843 * PRICE_PRECISION.toNumber()); // trading at a premium
+		const mmOraclePriceData: MMOraclePriceData = {
+			price: new BN(1.9535 * PRICE_PRECISION.toNumber()),
+			slot: new BN(0),
+			confidence: new BN(1),
+			hasSufficientNumberOfDataPoints: true,
+			isMMOracleActive: true,
+		};
+		mockMarket1.amm.historicalOracleData.lastOraclePrice = new BN(
+			1.9535 * PRICE_PRECISION.toNumber()
+		);
+
+		// mockMarket1.amm.pegMultiplier = new BN(1.897573 * 1e3);
+
+		mockMarket1.amm.lastMarkPriceTwap = new BN(
+			1.945594 * PRICE_PRECISION.toNumber()
+		);
+		mockMarket1.amm.lastBidPriceTwap = new BN(
+			1.941629 * PRICE_PRECISION.toNumber()
+		);
+		mockMarket1.amm.lastAskPriceTwap = new BN(
+			1.94956 * PRICE_PRECISION.toNumber()
+		);
+		mockMarket1.amm.lastMarkPriceTwapTs = new BN(1688877729);
+
+		mockMarket1.amm.historicalOracleData.lastOraclePriceTwap = new BN(
+			1.942449 * PRICE_PRECISION.toNumber()
+		);
+		mockMarket1.amm.historicalOracleData.lastOraclePriceTwapTs = new BN(
+			1688878333
+		);
+
+		const [
+			_markTwapLive,
+			_oracleTwapLive,
+			_lowerboundEst,
+			_cappedAltEst,
+			_interpEst,
+		] = calculateAllEstimatedFundingRate(
+			mockMarket1,
+			mmOraclePriceData,
+			mmOraclePriceData as unknown as OraclePriceData,
+			currentMarkPrice,
+			now
+		);
+
+		const [markTwapLive, oracleTwapLive, est1, est2] =
+			calculateLongShortFundingRateAndLiveTwaps(
+				mockMarket1,
+				mmOraclePriceData,
+				mmOraclePriceData as unknown as OraclePriceData,
+				currentMarkPrice,
+				now
+			);
+
+		// console.log(markTwapLive.toString());
+		// console.log(oracleTwapLive.toString());
+		// console.log(est1.toString());
+		// console.log(est2.toString());
+
+		assert(markTwapLive.eq(new BN('1949826')));
+		assert(oracleTwapLive.eq(new BN('1942510')));
+		assert(est1.eq(new BN('16941')));
+		assert(est2.eq(new BN('16941')));
+	});
+
+	it('predicted funding rate mock2', () => {
+		const myMockPerpMarkets = _.cloneDeep(mockPerpMarkets);
+		const mockMarket1 = myMockPerpMarkets[0];
+
+		// make it like OP
+		const now = new BN(1688881915);
+
+		mockMarket1.amm.fundingPeriod = new BN(3600);
+		mockMarket1.amm.lastFundingRateTs = new BN(1688864415);
+
+		const currentMarkPrice = new BN(1.2242 * PRICE_PRECISION.toNumber()); // trading at a premium
+		const mmOraclePriceData: MMOraclePriceData = {
+			price: new BN(1.224 * PRICE_PRECISION.toNumber()),
+			slot: new BN(0),
+			confidence: new BN(1),
+			hasSufficientNumberOfDataPoints: true,
+			isMMOracleActive: true,
+		};
+		mockMarket1.amm.historicalOracleData.lastOraclePrice = new BN(
+			1.9535 * PRICE_PRECISION.toNumber()
+		);
+
+		// mockMarket1.amm.pegMultiplier = new BN(1.897573 * 1e3);
+
+		mockMarket1.amm.lastMarkPriceTwap = new BN(
+			1.218363 * PRICE_PRECISION.toNumber()
+		);
+		mockMarket1.amm.lastBidPriceTwap = new BN(
+			1.218363 * PRICE_PRECISION.toNumber()
+		);
+		mockMarket1.amm.lastAskPriceTwap = new BN(
+			1.218364 * PRICE_PRECISION.toNumber()
+		);
+		mockMarket1.amm.lastMarkPriceTwapTs = new BN(1688878815);
+
+		mockMarket1.amm.historicalOracleData.lastOraclePriceTwap = new BN(
+			1.220964 * PRICE_PRECISION.toNumber()
+		);
+		mockMarket1.amm.historicalOracleData.lastOraclePriceTwapTs = new BN(
+			1688879991
+		);
+
+		const [
+			_markTwapLive,
+			_oracleTwapLive,
+			_lowerboundEst,
+			_cappedAltEst,
+			_interpEst,
+		] = calculateAllEstimatedFundingRate(
+			mockMarket1,
+			mmOraclePriceData,
+			mmOraclePriceData as unknown as OraclePriceData,
+			currentMarkPrice,
+			now
+		);
+
+		// console.log(_markTwapLive.toString());
+		// console.log(_oracleTwapLive.toString());
+		// console.log(_lowerboundEst.toString());
+		// console.log(_cappedAltEst.toString());
+		// console.log(_interpEst.toString());
+		// console.log('-----');
+
+		const [markTwapLive, oracleTwapLive, est1, est2] =
+			calculateLongShortFundingRateAndLiveTwaps(
+				mockMarket1,
+				mmOraclePriceData,
+				mmOraclePriceData as unknown as OraclePriceData,
+				currentMarkPrice,
+				now
+			);
+
+		console.log(
+			'markTwapLive:',
+			mockMarket1.amm.lastMarkPriceTwap.toString(),
+			'->',
+			markTwapLive.toString()
+		);
+		console.log(
+			'oracTwapLive:',
+			mockMarket1.amm.historicalOracleData.lastOraclePriceTwap.toString(),
+			'->',
+			oracleTwapLive.toString()
+		);
+		console.log('pred funding:', est1.toString(), est2.toString());
+
+		assert(markTwapLive.eq(new BN('1222131')));
+		assert(oracleTwapLive.eq(new BN('1222586')));
+		assert(est1.eq(est2));
+		assert(est2.eq(new BN('1247')));
+	});
+
+	it('predicted funding rate mock clamp', () => {
+		const myMockPerpMarkets = _.cloneDeep(mockPerpMarkets);
+		const mockMarket1 = myMockPerpMarkets[0];
+
+		// make it like OP
+		const now = new BN(1688881915);
+
+		mockMarket1.amm.fundingPeriod = new BN(3600);
+		mockMarket1.amm.lastFundingRateTs = new BN(1688864415);
+
+		const currentMarkPrice = new BN(1.2242 * PRICE_PRECISION.toNumber()); // trading at a premium
+		const mmOraclePriceData: MMOraclePriceData = {
+			price: new BN(1.924 * PRICE_PRECISION.toNumber()),
+			slot: new BN(0),
+			confidence: new BN(1),
+			hasSufficientNumberOfDataPoints: true,
+			isMMOracleActive: true,
+		} as MMOraclePriceData;
+		mockMarket1.amm.historicalOracleData.lastOraclePrice = new BN(
+			1.9535 * PRICE_PRECISION.toNumber()
+		);
+
+		// mockMarket1.amm.pegMultiplier = new BN(1.897573 * 1e3);
+
+		mockMarket1.amm.lastMarkPriceTwap = new BN(
+			1.218363 * PRICE_PRECISION.toNumber()
+		);
+		mockMarket1.amm.lastBidPriceTwap = new BN(
+			1.218363 * PRICE_PRECISION.toNumber()
+		);
+		mockMarket1.amm.lastAskPriceTwap = new BN(
+			1.218364 * PRICE_PRECISION.toNumber()
+		);
+		mockMarket1.amm.lastMarkPriceTwapTs = new BN(1688878815);
+
+		mockMarket1.amm.historicalOracleData.lastOraclePriceTwap = new BN(
+			1.820964 * PRICE_PRECISION.toNumber()
+		);
+		mockMarket1.amm.historicalOracleData.lastOraclePriceTwapTs = new BN(
+			1688879991
+		);
+		mockMarket1.contractTier = ContractTier.A;
+
+		const [
+			_markTwapLive,
+			_oracleTwapLive,
+			_lowerboundEst,
+			_cappedAltEst,
+			_interpEst,
+		] = calculateAllEstimatedFundingRate(
+			mockMarket1,
+			mmOraclePriceData,
+			mmOraclePriceData as unknown as OraclePriceData,
+			currentMarkPrice,
+			now
+		);
+
+		// console.log(_markTwapLive.toString());
+		// console.log(_oracleTwapLive.toString());
+		// console.log(_lowerboundEst.toString());
+		// console.log(_cappedAltEst.toString());
+		// console.log(_interpEst.toString());
+		// console.log('-----');
+
+		let [markTwapLive, oracleTwapLive, est1, est2] =
+			calculateLongShortFundingRateAndLiveTwaps(
+				mockMarket1,
+				mmOraclePriceData,
+				mmOraclePriceData as unknown as OraclePriceData,
+				currentMarkPrice,
+				now
+			);
+
+		console.log(
+			'markTwapLive:',
+			mockMarket1.amm.lastMarkPriceTwap.toString(),
+			'->',
+			markTwapLive.toString()
+		);
+		console.log(
+			'oracTwapLive:',
+			mockMarket1.amm.historicalOracleData.lastOraclePriceTwap.toString(),
+			'->',
+			oracleTwapLive.toString()
+		);
+		console.log('pred funding:', est1.toString(), est2.toString());
+
+		assert(markTwapLive.eq(new BN('1680634')));
+		assert(oracleTwapLive.eq(new BN('1876031')));
+		assert(est1.eq(est2));
+		assert(est2.eq(new BN('-126261')));
+
+		mockMarket1.contractTier = ContractTier.C;
+
+		[markTwapLive, oracleTwapLive, est1, est2] =
+			calculateLongShortFundingRateAndLiveTwaps(
+				mockMarket1,
+				mmOraclePriceData,
+				mmOraclePriceData as unknown as OraclePriceData,
+				currentMarkPrice,
+				now
+			);
+
+		console.log(
+			'markTwapLive:',
+			mockMarket1.amm.lastMarkPriceTwap.toString(),
+			'->',
+			markTwapLive.toString()
+		);
+		console.log(
+			'oracTwapLive:',
+			mockMarket1.amm.historicalOracleData.lastOraclePriceTwap.toString(),
+			'->',
+			oracleTwapLive.toString()
+		);
+		console.log('pred funding:', est1.toString(), est2.toString());
+
+		assert(markTwapLive.eq(new BN('1680634')));
+		assert(oracleTwapLive.eq(new BN('1876031')));
+		assert(est1.eq(est2));
+		assert(est2.eq(new BN('-208332')));
+
+		mockMarket1.contractTier = ContractTier.SPECULATIVE;
+
+		[markTwapLive, oracleTwapLive, est1, est2] =
+			calculateLongShortFundingRateAndLiveTwaps(
+				mockMarket1,
+				mmOraclePriceData,
+				mmOraclePriceData as unknown as OraclePriceData,
+				currentMarkPrice,
+				now
+			);
+
+		console.log(
+			'markTwapLive:',
+			mockMarket1.amm.lastMarkPriceTwap.toString(),
+			'->',
+			markTwapLive.toString()
+		);
+		console.log(
+			'oracTwapLive:',
+			mockMarket1.amm.historicalOracleData.lastOraclePriceTwap.toString(),
+			'->',
+			oracleTwapLive.toString()
+		);
+		console.log('pred funding:', est1.toString(), est2.toString());
+
+		assert(markTwapLive.eq(new BN('1680634')));
+		assert(oracleTwapLive.eq(new BN('1876031')));
+		assert(est1.eq(est2));
+		assert(est2.eq(new BN('-416666')));
+	});
+
+	it('orderbook L2 gen (no topOfBookQuoteAmounts, 10 numOrders, low liquidity)', async () => {
+		const myMockPerpMarkets = _.cloneDeep(mockPerpMarkets);
+
+		const mockMarket1: PerpMarketAccount = myMockPerpMarkets[0];
+		const cc = 38104569;
+		mockMarket1.amm.baseAssetReserve = new BN(cc).mul(BASE_PRECISION);
+		mockMarket1.amm.maxBaseAssetReserve = mockMarket1.amm.baseAssetReserve.add(
+			new BN(1234835)
+		);
+		mockMarket1.amm.minBaseAssetReserve =
+			mockMarket1.amm.baseAssetReserve.sub(BASE_PRECISION);
+		mockMarket1.amm.quoteAssetReserve = new BN(cc).mul(BASE_PRECISION);
+		mockMarket1.amm.pegMultiplier = new BN(18.32 * PEG_PRECISION.toNumber());
+		mockMarket1.amm.sqrtK = new BN(cc).mul(BASE_PRECISION);
+
+		const now = new BN(1688881915);
+
+		const mmOraclePriceData: MMOraclePriceData = {
+			price: new BN(18.624 * PRICE_PRECISION.toNumber()),
+			slot: new BN(0),
+			confidence: new BN(1),
+			hasSufficientNumberOfDataPoints: true,
+			isMMOracleActive: true,
+		} as MMOraclePriceData;
+		mockMarket1.amm.historicalOracleData.lastOraclePrice = new BN(
+			18.5535 * PRICE_PRECISION.toNumber()
+		);
+
+		const updatedAmm = calculateUpdatedAMM(mockMarket1.amm, mmOraclePriceData);
+
+		const [openBids, openAsks] = calculateMarketOpenBidAsk(
+			updatedAmm.baseAssetReserve,
+			updatedAmm.minBaseAssetReserve,
+			updatedAmm.maxBaseAssetReserve,
+			updatedAmm.orderStepSize
+		);
+
+		const generator = getVammL2Generator({
+			marketAccount: mockMarket1,
+			mmOraclePriceData,
+			numOrders: 10,
+			now,
+			topOfBookQuoteAmounts: [],
+		});
+
+		const bids = Array.from(generator.getL2Bids());
+		// console.log(bids);
+
+		const totalBidSize = bids.reduce((total: BN, order: L2Level) => {
+			return total.add(order.size);
+		}, ZERO);
+
+		console.log(
+			'totalBidSize:',
+			totalBidSize.toString(),
+			'openBids:',
+			openBids.toString()
+		);
+		assert(totalBidSize.sub(openBids).abs().lt(new BN(10))); // smol err
+		assert(totalBidSize.sub(openBids).lt(ZERO)); // under estimation
+
+		const asks = Array.from(generator.getL2Asks());
+		// console.log(asks);
+
+		const totalAskSize = asks.reduce((total: BN, order: L2Level) => {
+			return total.add(order.size);
+		}, ZERO);
+		console.log(
+			'totalAskSize:',
+			totalAskSize.toString(),
+			'openAsks:',
+			openAsks.toString()
+		);
+		assert(totalAskSize.sub(openAsks.abs()).lte(new BN(5))); // only tiny rounding errors
+	});
+
+	it('orderbook L2 gen (no topOfBookQuoteAmounts, 10 numOrders)', async () => {
+		const myMockPerpMarkets = _.cloneDeep(mockPerpMarkets);
+
+		const mockMarket1: PerpMarketAccount = myMockPerpMarkets[0];
+		const cc = 38104569;
+		mockMarket1.amm.baseAssetReserve = new BN(cc).mul(BASE_PRECISION);
+		mockMarket1.amm.maxBaseAssetReserve = mockMarket1.amm.baseAssetReserve.mul(
+			new BN(2)
+		);
+		mockMarket1.amm.minBaseAssetReserve = mockMarket1.amm.baseAssetReserve.div(
+			new BN(2)
+		);
+		mockMarket1.amm.quoteAssetReserve = new BN(cc).mul(BASE_PRECISION);
+		mockMarket1.amm.pegMultiplier = new BN(18.32 * PEG_PRECISION.toNumber());
+		mockMarket1.amm.sqrtK = new BN(cc).mul(BASE_PRECISION);
+
+		const now = new BN(1688881915);
+
+		const mmOraclePriceData: MMOraclePriceData = {
+			price: new BN(18.624 * PRICE_PRECISION.toNumber()),
+			slot: new BN(0),
+			confidence: new BN(1),
+			hasSufficientNumberOfDataPoints: true,
+			isMMOracleActive: true,
+		} as MMOraclePriceData;
+		mockMarket1.amm.historicalOracleData.lastOraclePrice = new BN(
+			18.5535 * PRICE_PRECISION.toNumber()
+		);
+
+		const updatedAmm = calculateUpdatedAMM(mockMarket1.amm, mmOraclePriceData);
+
+		const [openBids, openAsks] = calculateMarketOpenBidAsk(
+			updatedAmm.baseAssetReserve,
+			updatedAmm.minBaseAssetReserve,
+			updatedAmm.maxBaseAssetReserve,
+			updatedAmm.orderStepSize
+		);
+
+		const generator = getVammL2Generator({
+			marketAccount: mockMarket1,
+			mmOraclePriceData,
+			numOrders: 10,
+			now,
+			topOfBookQuoteAmounts: [],
+		});
+
+		const bids = Array.from(generator.getL2Bids());
+		// console.log(bids);
+
+		const totalBidSize = bids.reduce((total: BN, order: L2Level) => {
+			return total.add(order.size);
+		}, ZERO);
+
+		console.log(
+			'totalBidSize:',
+			totalBidSize.toString(),
+			'openBids:',
+			openBids.toString()
+		);
+		assert(totalBidSize.eq(openBids));
+
+		const asks = Array.from(generator.getL2Asks());
+		// console.log(asks);
+
+		const totalAskSize = asks.reduce((total: BN, order: L2Level) => {
+			return total.add(order.size);
+		}, ZERO);
+		console.log(
+			'totalAskSize:',
+			totalAskSize.toString(),
+			'openAsks:',
+			openAsks.toString()
+		);
+		assert(totalAskSize.sub(openAsks.abs()).lte(new BN(5))); // only tiny rounding errors
+	});
+
+	it('orderbook L2 gen (4 topOfBookQuoteAmounts, 10 numOrders)', async () => {
+		const myMockPerpMarkets = _.cloneDeep(mockPerpMarkets);
+
+		const mockMarket1: PerpMarketAccount = myMockPerpMarkets[0];
+		const cc = 38104569;
+		mockMarket1.amm.baseAssetReserve = new BN(cc).mul(BASE_PRECISION);
+		mockMarket1.amm.maxBaseAssetReserve = mockMarket1.amm.baseAssetReserve.mul(
+			new BN(2)
+		);
+		mockMarket1.amm.minBaseAssetReserve = mockMarket1.amm.baseAssetReserve.div(
+			new BN(2)
+		);
+		mockMarket1.amm.quoteAssetReserve = new BN(cc).mul(BASE_PRECISION);
+		mockMarket1.amm.pegMultiplier = new BN(18.32 * PEG_PRECISION.toNumber());
+		mockMarket1.amm.sqrtK = new BN(cc).mul(BASE_PRECISION);
+
+		const now = new BN(1688881915);
+
+		const mmOraclePriceData: MMOraclePriceData = {
+			price: new BN(18.624 * PRICE_PRECISION.toNumber()),
+			slot: new BN(0),
+			confidence: new BN(1),
+			hasSufficientNumberOfDataPoints: true,
+			isMMOracleActive: true,
+		} as MMOraclePriceData;
+		mockMarket1.amm.historicalOracleData.lastOraclePrice = new BN(
+			18.5535 * PRICE_PRECISION.toNumber()
+		);
+
+		const updatedAmm = calculateUpdatedAMM(mockMarket1.amm, mmOraclePriceData);
+
+		const [openBids, openAsks] = calculateMarketOpenBidAsk(
+			updatedAmm.baseAssetReserve,
+			updatedAmm.minBaseAssetReserve,
+			updatedAmm.maxBaseAssetReserve,
+			updatedAmm.orderStepSize
+		);
+
+		assert(!openAsks.eq(openBids));
+
+		const generator = getVammL2Generator({
+			marketAccount: mockMarket1,
+			mmOraclePriceData,
+			numOrders: 10,
+			now,
+			topOfBookQuoteAmounts: [
+				new BN(10).mul(QUOTE_PRECISION),
+				new BN(100).mul(QUOTE_PRECISION),
+				new BN(1000).mul(QUOTE_PRECISION),
+				new BN(10000).mul(QUOTE_PRECISION),
+			],
+		});
+
+		const bids = Array.from(generator.getL2Bids());
+		// console.log(bids);
+
+		const totalBidSize = bids.reduce((total: BN, order: L2Level) => {
+			return total.add(order.size);
+		}, ZERO);
+
+		console.log(
+			'totalBidSize:',
+			totalBidSize.toString(),
+			'openBids:',
+			openBids.toString()
+		);
+		assert(totalBidSize.eq(openBids));
+
+		const asks = Array.from(generator.getL2Asks());
+		// console.log(asks);
+
+		const totalAskSize = asks.reduce((total: BN, order: L2Level) => {
+			return total.add(order.size);
+		}, ZERO);
+		console.log(
+			'totalAskSize:',
+			totalAskSize.toString(),
+			'openAsks:',
+			openAsks.toString()
+		);
+		assert(totalAskSize.sub(openAsks.abs()).lte(new BN(5))); // only tiny rounding errors
+	});
+
+	it('orderbook L2 gen (4 topOfBookQuoteAmounts, 10 numOrders, low bid liquidity)', async () => {
+		const myMockPerpMarkets = _.cloneDeep(mockPerpMarkets);
+
+		const mockMarket1: PerpMarketAccount = myMockPerpMarkets[0];
+		const cc = 38104569;
+		mockMarket1.amm.baseAssetReserve = new BN(cc).mul(BASE_PRECISION);
+		mockMarket1.amm.maxBaseAssetReserve =
+			mockMarket1.amm.baseAssetReserve.add(BASE_PRECISION); // only 1 base
+		mockMarket1.amm.minBaseAssetReserve = mockMarket1.amm.baseAssetReserve.div(
+			new BN(2)
+		);
+		mockMarket1.amm.quoteAssetReserve = new BN(cc).mul(BASE_PRECISION);
+		mockMarket1.amm.pegMultiplier = new BN(18.32 * PEG_PRECISION.toNumber());
+		mockMarket1.amm.sqrtK = new BN(cc).mul(BASE_PRECISION);
+
+		const now = new BN(1688881915);
+
+		const mmOraclePriceData: MMOraclePriceData = {
+			price: new BN(18.624 * PRICE_PRECISION.toNumber()),
+			slot: new BN(0),
+			confidence: new BN(1),
+			hasSufficientNumberOfDataPoints: true,
+			isMMOracleActive: true,
+		} as MMOraclePriceData;
+		mockMarket1.amm.historicalOracleData.lastOraclePrice = new BN(
+			18.5535 * PRICE_PRECISION.toNumber()
+		);
+
+		const updatedAmm = calculateUpdatedAMM(mockMarket1.amm, mmOraclePriceData);
+
+		const [openBids, openAsks] = calculateMarketOpenBidAsk(
+			updatedAmm.baseAssetReserve,
+			updatedAmm.minBaseAssetReserve,
+			updatedAmm.maxBaseAssetReserve,
+			updatedAmm.orderStepSize
+		);
+
+		assert(!openAsks.eq(openBids));
+
+		const generator = getVammL2Generator({
+			marketAccount: mockMarket1,
+			mmOraclePriceData,
+			numOrders: 10,
+			now,
+			topOfBookQuoteAmounts: [
+				new BN(10).mul(QUOTE_PRECISION),
+				new BN(100).mul(QUOTE_PRECISION),
+				new BN(1000).mul(QUOTE_PRECISION),
+				new BN(10000).mul(QUOTE_PRECISION),
+			],
+		});
+
+		const bids = Array.from(generator.getL2Bids());
+		assert(bids.length == 2);
+		console.log(bids[0].size.toString());
+		console.log(bids[1].size.toString());
+
+		const totalBidSize = bids.reduce((total: BN, order: L2Level) => {
+			return total.add(order.size);
+		}, ZERO);
+
+		console.log(
+			'totalBidSize:',
+			totalBidSize.toString(),
+			'openBids:',
+			openBids.toString()
+		);
+		assert(totalBidSize.eq(openBids));
+
+		const asks = Array.from(generator.getL2Asks());
+		// console.log(asks);
+
+		const totalAskSize = asks.reduce((total: BN, order: L2Level) => {
+			return total.add(order.size);
+		}, ZERO);
+		console.log(
+			'totalAskSize:',
+			totalAskSize.toString(),
+			'openAsks:',
+			openAsks.toString()
+		);
+		assert(totalAskSize.sub(openAsks.abs()).lte(new BN(5))); // only tiny rounding errors
+	});
+
+	it('orderbook L2 gen (4 topOfBookQuoteAmounts, 10 numOrders, low ask liquidity)', async () => {
+		const myMockPerpMarkets = _.cloneDeep(mockPerpMarkets);
+
+		const mockMarket1: PerpMarketAccount = myMockPerpMarkets[0];
+		const cc = 38104569;
+		mockMarket1.amm.baseAssetReserve = new BN(cc).mul(BASE_PRECISION);
+		mockMarket1.amm.maxBaseAssetReserve = mockMarket1.amm.baseAssetReserve.add(
+			BASE_PRECISION.mul(new BN(1000))
+		); // 1000 base
+		mockMarket1.amm.minBaseAssetReserve = mockMarket1.amm.baseAssetReserve.sub(
+			BASE_PRECISION.div(new BN(2))
+		); // only .5 base
+		mockMarket1.amm.quoteAssetReserve = new BN(cc).mul(BASE_PRECISION);
+		mockMarket1.amm.pegMultiplier = new BN(18.32 * PEG_PRECISION.toNumber());
+		mockMarket1.amm.sqrtK = new BN(cc).mul(BASE_PRECISION);
+
+		const now = new BN(1688881915);
+
+		const mmOraclePriceData: MMOraclePriceData = {
+			price: new BN(18.624 * PRICE_PRECISION.toNumber()),
+			slot: new BN(0),
+			confidence: new BN(1),
+			hasSufficientNumberOfDataPoints: true,
+			isMMOracleActive: true,
+		};
+		mockMarket1.amm.historicalOracleData.lastOraclePrice = new BN(
+			18.5535 * PRICE_PRECISION.toNumber()
+		);
+
+		const updatedAmm = calculateUpdatedAMM(mockMarket1.amm, mmOraclePriceData);
+
+		const [openBids, openAsks] = calculateMarketOpenBidAsk(
+			updatedAmm.baseAssetReserve,
+			updatedAmm.minBaseAssetReserve,
+			updatedAmm.maxBaseAssetReserve,
+			updatedAmm.orderStepSize
+		);
+
+		assert(!openAsks.eq(openBids));
+
+		const generator = getVammL2Generator({
+			marketAccount: mockMarket1,
+			mmOraclePriceData,
+			numOrders: 10,
+			now,
+			topOfBookQuoteAmounts: [
+				new BN(10).mul(QUOTE_PRECISION),
+				new BN(100).mul(QUOTE_PRECISION),
+				new BN(1000).mul(QUOTE_PRECISION),
+				new BN(10000).mul(QUOTE_PRECISION),
+			],
+		});
+
+		const bids = Array.from(generator.getL2Bids());
+
+		const totalBidSize = bids.reduce((total: BN, order: L2Level) => {
+			return total.add(order.size);
+		}, ZERO);
+
+		console.log(
+			'totalBidSize:',
+			totalBidSize.toString(),
+			'openBids:',
+			openBids.toString()
+		);
+		assert(totalBidSize.sub(openBids).abs().lt(new BN(5)));
+
+		const asks = Array.from(generator.getL2Asks());
+		// console.log(asks);
+
+		assert(asks.length == 1);
+		console.log(asks[0].size.toString());
+		const totalAskSize = asks.reduce((total: BN, order: L2Level) => {
+			return total.add(order.size);
+		}, ZERO);
+		console.log(
+			'totalAskSize:',
+			totalAskSize.toString(),
+			'openAsks:',
+			openAsks.toString()
+		);
+		assert(totalAskSize.sub(openAsks.abs()).lte(new BN(5))); // only tiny rounding errors
+	});
+
+	it('orderbook L2 gen (no topOfBookQuoteAmounts, 10 numOrders, no liquidity)', async () => {
+		const myMockPerpMarkets = _.cloneDeep(mockPerpMarkets);
+
+		const mockMarket1: PerpMarketAccount = myMockPerpMarkets[0];
+		const cc = 38104569;
+		mockMarket1.amm.baseAssetReserve = new BN(cc).mul(BASE_PRECISION);
+		mockMarket1.amm.minOrderSize = new BN(5);
+		mockMarket1.amm.maxBaseAssetReserve = mockMarket1.amm.baseAssetReserve.add(
+			new BN(9)
+		);
+		mockMarket1.amm.minBaseAssetReserve = mockMarket1.amm.baseAssetReserve.sub(
+			new BN(9)
+		);
+		mockMarket1.amm.quoteAssetReserve = new BN(cc).mul(BASE_PRECISION);
+		mockMarket1.amm.pegMultiplier = new BN(18.32 * PEG_PRECISION.toNumber());
+		mockMarket1.amm.sqrtK = new BN(cc).mul(BASE_PRECISION);
+
+		const now = new BN(1688881915);
+
+		const mmOraclePriceData: MMOraclePriceData = {
+			price: new BN(18.624 * PRICE_PRECISION.toNumber()),
+			slot: new BN(0),
+			confidence: new BN(1),
+			hasSufficientNumberOfDataPoints: true,
+			isMMOracleActive: true,
+		} as MMOraclePriceData;
+		mockMarket1.amm.historicalOracleData.lastOraclePrice = new BN(
+			18.5535 * PRICE_PRECISION.toNumber()
+		);
+
+		const updatedAmm = calculateUpdatedAMM(mockMarket1.amm, mmOraclePriceData);
+
+		const [openBids, openAsks] = calculateMarketOpenBidAsk(
+			updatedAmm.baseAssetReserve,
+			updatedAmm.minBaseAssetReserve,
+			updatedAmm.maxBaseAssetReserve,
+			updatedAmm.orderStepSize
+		);
+
+		const generator = getVammL2Generator({
+			marketAccount: mockMarket1,
+			mmOraclePriceData,
+			numOrders: 10,
+			now,
+			topOfBookQuoteAmounts: [],
+		});
+
+		const bids = Array.from(generator.getL2Bids());
+		// console.log(bids);
+
+		const totalBidSize = bids.reduce((total: BN, order: L2Level) => {
+			return total.add(order.size);
+		}, ZERO);
+
+		console.log(
+			'totalBidSize:',
+			totalBidSize.toString(),
+			'openBids:',
+			openBids.toString()
+		);
+		assert(openBids.eq(new BN(9)));
+		assert(totalBidSize.eq(ZERO));
+
+		const asks = Array.from(generator.getL2Asks());
+		// console.log(asks);
+
+		const totalAskSize = asks.reduce((total: BN, order: L2Level) => {
+			return total.add(order.size);
+		}, ZERO);
+		console.log(
+			'totalAskSize:',
+			totalAskSize.toString(),
+			'openAsks:',
+			openAsks.toString()
+		);
+
+		assert(openAsks.eq(new BN(-9)));
+		assert(totalAskSize.eq(ZERO));
+	});
+});