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import { Amount, toBigNumber } from "@mrgnlabs/mrgn-common"; | |
import { getMarginfiClient } from "./utils"; | |
import { Bank, OraclePrice } from "../src"; | |
import BigNumber from "bignumber.js"; | |
async function main() { | |
const client = await getMarginfiClient(); | |
const uxdBank = client.getBankByTokenSymbol("UXD"); | |
if (!uxdBank) { | |
throw new Error("UXD bank not found"); | |
} | |
const uxdPriceInfo = client.getOraclePriceByBank(uxdBank.address); | |
if (!uxdPriceInfo) { | |
throw new Error("UXD oracle price not found"); | |
} | |
const usdcBank = client.getBankByTokenSymbol("USDC"); | |
if (!usdcBank) { | |
throw new Error("USDC bank not found"); | |
} | |
const usdcPriceInfo = client.getOraclePriceByBank(usdcBank.address); | |
if (!usdcPriceInfo) { | |
throw new Error("USDC oracle price not found"); | |
} | |
const { maxDeposit, maxBorrow, leverage, maintHealth, netAccountValue } = computeLeverParams( | |
100, | |
uxdBank, | |
usdcBank, | |
uxdPriceInfo, | |
usdcPriceInfo, | |
); | |
console.log("Max deposit:", maxDeposit.toFixed()); | |
console.log("Max borrow:", maxBorrow.toFixed()); | |
console.log("Leverage:", leverage); | |
console.log("Final health", maintHealth * 100); | |
console.log("Net value:", netAccountValue.toFixed()); | |
} | |
function computeLeverParams( | |
initialCollateral: Amount, | |
depositBank: Bank, | |
borrowBank: Bank, | |
depositOracleInfo: OraclePrice, | |
borrowOracleInfo: OraclePrice, | |
): { maxBorrow: BigNumber; maxDeposit: BigNumber; leverage: number, maintHealth: number, netAccountValue: BigNumber } { | |
const _initialCollateral = toBigNumber(initialCollateral); | |
const depositInitWeight = depositBank.config.assetWeightInit; | |
const borrowInitWeight = borrowBank.config.liabilityWeightInit; | |
const ltv = depositInitWeight.div(borrowInitWeight); | |
console.log("LTV:", ltv.toFixed()); | |
const depositPriceLow = depositOracleInfo.priceWeighted.lowestPrice; | |
const borrowPriceHigh = borrowOracleInfo.priceWeighted.highestPrice; | |
const initialCollateralValue = _initialCollateral.times(depositPriceLow); | |
const maxDepositValue = initialCollateralValue.div(new BigNumber(1).minus(ltv)); | |
const maxBorrowValue = maxDepositValue.times(ltv); | |
const maxDeposit = maxDepositValue.div(depositPriceLow); | |
const maxBorrow = maxBorrowValue.div(borrowPriceHigh); | |
const leverage = maxDeposit.div(_initialCollateral).toNumber(); | |
const finalMaintWeightedDeposits = maxDeposit.times(depositBank.config.assetWeightMaint).times(depositPriceLow); | |
const finalMaintWeightedBorrows = maxBorrow.times(borrowBank.config.liabilityWeightMaint).times(borrowPriceHigh); | |
const maintHealth = finalMaintWeightedDeposits.minus(finalMaintWeightedBorrows).div(finalMaintWeightedDeposits).toNumber(); | |
const netAccountValue = maxDepositValue.minus(maxBorrowValue); | |
return { maxBorrow, maxDeposit, leverage, maintHealth, netAccountValue }; | |
} | |
main(); |
If you add these to the logs you can see that the calculation is wrong because one can't end up with a higher net position value than what you started with.
console.log( 'Net position:', maxDeposit .times(uxdPriceInfo.priceRealtime.price) .minus(maxBorrow.times(usdcPriceInfo.priceRealtime.price)) .toFixed() ); console.log( 'Final Health:', maxDeposit.minus(maxBorrow).dividedBy(maxDeposit).toFixed() );```
I had inverted:
const maxDepositValue = initialCollateralValue.div(new BigNumber(1).minus(ltv));
const maxBorrowValue = maxDepositValue.times(ltv);
Fixed now.
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I did end up figuring out our calcs based on this comment you made. We weren't multiplying the borrow weighted value by
liabilityInit