add admin function + move field to amm + sdk math

moosecat2 · moosecat2 · commit 8192cffb2264 · 2025-10-13T15:27:45.000-07:00
diff --git a/programs/drift/src/controller/amm.rs b/programs/drift/src/controller/amm.rs
@@ -196,7 +196,7 @@ pub fn update_spreads(
         let mut signed_liquidity_ratio =
             liquidity_ratio.safe_mul(market.amm.get_protocol_owned_position()?.signum().cast()?)?;
 
-        let deadband_pct = market.get_reference_offset_deadband_pct()?;
+        let deadband_pct = market.amm.get_reference_price_offset_deadband_pct()?;
         if signed_liquidity_ratio.unsigned_abs() <= deadband_pct {
             signed_liquidity_ratio = 0;
         } else {
diff --git a/programs/drift/src/instructions/admin.rs b/programs/drift/src/instructions/admin.rs
@@ -983,8 +983,7 @@ pub fn handle_initialize_perp_market(
         protected_maker_dynamic_divisor: 0,
         padding1: 0,
         last_fill_price: 0,
-        reference_offset_deadband_pct: 0,
-        padding: [0; 23],
+        padding: [0; 24],
         amm: AMM {
             oracle: *ctx.accounts.oracle.key,
             oracle_source,
@@ -1080,7 +1079,8 @@ pub fn handle_initialize_perp_market(
             quote_asset_amount_with_unsettled_lp: 0,
             reference_price_offset: 0,
             amm_inventory_spread_adjustment: 0,
-            padding: [0; 3],
+            reference_price_offset_deadband_pct: 0,
+            padding: [0; 2],
             last_funding_oracle_twap: 0,
         },
     };
@@ -3440,6 +3440,31 @@ pub fn handle_update_perp_market_curve_update_intensity(
     Ok(())
 }
 
+#[access_control(
+    perp_market_valid(&ctx.accounts.perp_market)
+)]
+pub fn handle_update_perp_market_reference_price_offset_deadband_pct(
+    ctx: Context<HotAdminUpdatePerpMarket>,
+    reference_price_offset_deadband_pct: u8,
+) -> Result<()> {
+    validate!(
+        reference_price_offset_deadband_pct <= 100,
+        ErrorCode::DefaultError,
+        "invalid reference_price_offset_deadband_pct",
+    )?;
+    let perp_market = &mut load_mut!(ctx.accounts.perp_market)?;
+    msg!("perp market {}", perp_market.market_index);
+
+    msg!(
+        "perp_market.amm.reference_price_offset_deadband_pct: {} -> {}",
+        perp_market.amm.reference_price_offset_deadband_pct,
+        reference_price_offset_deadband_pct
+    );
+
+    perp_market.amm.reference_price_offset_deadband_pct = reference_price_offset_deadband_pct;
+    Ok(())
+}
+
 pub fn handle_update_lp_cooldown_time(
     ctx: Context<AdminUpdateState>,
     lp_cooldown_time: u64,
diff --git a/programs/drift/src/lib.rs b/programs/drift/src/lib.rs
@@ -1387,6 +1387,16 @@ pub mod drift {
         handle_update_perp_market_curve_update_intensity(ctx, curve_update_intensity)
     }
 
+    pub fn update_perp_market_reference_price_offset_deadband_pct(
+        ctx: Context<HotAdminUpdatePerpMarket>,
+        reference_price_offset_deadband_pct: u8,
+    ) -> Result<()> {
+        handle_update_perp_market_reference_price_offset_deadband_pct(
+            ctx,
+            reference_price_offset_deadband_pct,
+        )
+    }
+
     pub fn update_lp_cooldown_time(
         ctx: Context<AdminUpdateState>,
         lp_cooldown_time: u64,
diff --git a/programs/drift/src/math/amm_spread/tests.rs b/programs/drift/src/math/amm_spread/tests.rs
@@ -214,7 +214,6 @@ mod test {
                 },
                 ..AMM::default()
             },
-            reference_offset_deadband_pct: 0,
             ..PerpMarket::default()
         };
 
@@ -227,7 +226,7 @@ mod test {
         assert_eq!(market.amm.reference_price_offset, 10);
 
         // If base asset amount with amm is small, reference price offset is 0
-        market.reference_offset_deadband_pct = 10;
+        market.amm.reference_price_offset_deadband_pct = 10;
         market.amm.base_asset_amount_with_amm = (AMM_RESERVE_PRECISION * 3 / 20) as i128;
         let (_l, _s) = update_spreads(&mut market, reserve_price as u64, None).unwrap();
         assert_eq!(market.amm.reference_price_offset, 0);
diff --git a/programs/drift/src/state/perp_market.rs b/programs/drift/src/state/perp_market.rs
@@ -236,10 +236,7 @@ pub struct PerpMarket {
     pub protected_maker_dynamic_divisor: u8,
     pub padding1: u32,
     pub last_fill_price: u64,
-    /// Reference price offset deadband percentage (0-100). 0 disables deadband.
-    /// Stored in former padding to preserve zero-copy layout.
-    pub reference_offset_deadband_pct: u8,
-    pub padding: [u8; 23],
+    pub padding: [u8; 24],
 }
 
 impl Default for PerpMarket {
@@ -283,8 +280,7 @@ impl Default for PerpMarket {
             protected_maker_dynamic_divisor: 0,
             padding1: 0,
             last_fill_price: 0,
-            reference_offset_deadband_pct: 0,
-            padding: [0; 23],
+            padding: [0; 24],
         }
     }
 }
@@ -298,10 +294,6 @@ impl MarketIndexOffset for PerpMarket {
 }
 
 impl PerpMarket {
-    pub fn get_reference_offset_deadband_pct(&self) -> DriftResult<u128> {
-        let pct = self.reference_offset_deadband_pct as u128;
-        Ok(PERCENTAGE_PRECISION.safe_mul(pct)?.safe_div(100_u128)?)
-    }
     pub fn oracle_id(&self) -> OracleIdentifier {
         (self.amm.oracle, self.amm.oracle_source)
     }
@@ -1175,7 +1167,8 @@ pub struct AMM {
     pub reference_price_offset: i32,
     /// signed scale amm_spread similar to fee_adjustment logic (-100 = 0, 100 = double)
     pub amm_inventory_spread_adjustment: i8,
-    pub padding: [u8; 3],
+    pub reference_price_offset_deadband_pct: u8,
+    pub padding: [u8; 2],
     pub last_funding_oracle_twap: i64,
 }
 
@@ -1266,13 +1259,18 @@ impl Default for AMM {
             quote_asset_amount_with_unsettled_lp: 0,
             reference_price_offset: 0,
             amm_inventory_spread_adjustment: 0,
-            padding: [0; 3],
+            reference_price_offset_deadband_pct: 0,
+            padding: [0; 2],
             last_funding_oracle_twap: 0,
         }
     }
 }
 
 impl AMM {
+    pub fn get_reference_price_offset_deadband_pct(&self) -> DriftResult<u128> {
+        let pct = self.reference_price_offset_deadband_pct as u128;
+        Ok(PERCENTAGE_PRECISION.safe_mul(pct)?.safe_div(100_u128)?)
+    }
     pub fn get_fallback_price(
         self,
         direction: &PositionDirection,
diff --git a/sdk/src/adminClient.ts b/sdk/src/adminClient.ts
@@ -1232,6 +1232,46 @@ export class AdminClient extends DriftClient {
 		);
 	}
 
+	public async updatePerpMarketReferencePriceOffsetDeadbandPct(
+		perpMarketIndex: number,
+		referencePriceOffsetDeadbandPct: number
+	): Promise<TransactionSignature> {
+		const updatePerpMarketReferencePriceOffsetDeadbandPctIx =
+			await this.getUpdatePerpMarketReferencePriceOffsetDeadbandPctIx(
+				perpMarketIndex,
+				referencePriceOffsetDeadbandPct
+			);
+
+		const tx = await this.buildTransaction(
+			updatePerpMarketReferencePriceOffsetDeadbandPctIx
+		);
+
+		const { txSig } = await this.sendTransaction(tx, [], this.opts);
+
+		return txSig;
+	}
+
+	public async getUpdatePerpMarketReferencePriceOffsetDeadbandPctIx(
+		perpMarketIndex: number,
+		referencePriceOffsetDeadbandPct: number
+	): Promise<TransactionInstruction> {
+		return await this.program.instruction.updatePerpMarketReferencePriceOffsetDeadbandPct(
+			referencePriceOffsetDeadbandPct,
+			{
+				accounts: {
+					admin: this.useHotWalletAdmin
+						? this.wallet.publicKey
+						: this.getStateAccount().admin,
+					state: await this.getStatePublicKey(),
+					perpMarket: await getPerpMarketPublicKey(
+						this.program.programId,
+						perpMarketIndex
+					),
+				},
+			}
+		);
+	}
+
 	public async updatePerpMarketTargetBaseAssetAmountPerLp(
 		perpMarketIndex: number,
 		targetBaseAssetAmountPerLP: number
diff --git a/sdk/src/idl/drift.json b/sdk/src/idl/drift.json
@@ -5874,6 +5874,32 @@
         }
       ]
     },
+    {
+      "name": "updatePerpMarketReferencePriceOffsetDeadbandPct",
+      "accounts": [
+        {
+          "name": "admin",
+          "isMut": false,
+          "isSigner": true
+        },
+        {
+          "name": "state",
+          "isMut": false,
+          "isSigner": false
+        },
+        {
+          "name": "perpMarket",
+          "isMut": true,
+          "isSigner": false
+        }
+      ],
+      "args": [
+        {
+          "name": "referencePriceOffsetDeadbandPct",
+          "type": "u8"
+        }
+      ]
+    },
     {
       "name": "updateLpCooldownTime",
       "accounts": [
@@ -11209,12 +11235,16 @@
             ],
             "type": "i8"
           },
+          {
+            "name": "referencePriceOffsetDeadbandPct",
+            "type": "u8"
+          },
           {
             "name": "padding",
             "type": {
               "array": [
                 "u8",
-                3
+                2
               ]
             }
           },
@@ -16782,8 +16812,5 @@
       "name": "UnableToLoadRevenueShareAccount",
       "msg": "Unable to load builder account"
     }
-  ],
-  "metadata": {
-    "address": "dRiftyHA39MWEi3m9aunc5MzRF1JYuBsbn6VPcn33UH"
-  }
+  ]
 }
diff --git a/sdk/src/math/amm.ts b/sdk/src/math/amm.ts
@@ -389,6 +389,31 @@ export function calculateInventoryLiquidityRatio(
 	return inventoryScaleBN;
 }
 
+export function calculateInventoryLiquidityRatioForReferencePriceOffset(
+	baseAssetAmountWithAmm: BN,
+	baseAssetReserve: BN,
+	minBaseAssetReserve: BN,
+	maxBaseAssetReserve: BN
+): BN {
+	// inventory skew
+	const [openBids, openAsks] = calculateMarketOpenBidAsk(
+		baseAssetReserve,
+		minBaseAssetReserve,
+		maxBaseAssetReserve
+	);
+
+	const minSideLiquidity = openBids.abs().add(openAsks.abs()).div(TWO);
+
+	const inventoryScaleBN = BN.min(
+		baseAssetAmountWithAmm
+			.mul(PERCENTAGE_PRECISION)
+			.div(BN.max(minSideLiquidity, ONE))
+			.abs(),
+		PERCENTAGE_PRECISION
+	);
+	return inventoryScaleBN;
+}
+
 export function calculateInventoryScale(
 	baseAssetAmountWithAmm: BN,
 	baseAssetReserve: BN,
@@ -440,7 +465,7 @@ export function calculateReferencePriceOffset(
 	markTwapSlow: BN,
 	maxOffsetPct: number
 ): BN {
-	if (last24hAvgFundingRate.eq(ZERO)) {
+	if (last24hAvgFundingRate.eq(ZERO) || liquidityFraction.eq(ZERO)) {
 		return ZERO;
 	}
 
@@ -1013,19 +1038,38 @@ export function calculateSpreadReserves(
 				(amm.curveUpdateIntensity - 100)
 		);
 
-		const liquidityFraction = calculateInventoryLiquidityRatio(
-			amm.baseAssetAmountWithAmm,
-			amm.baseAssetReserve,
-			amm.minBaseAssetReserve,
-			amm.maxBaseAssetReserve
-		);
+		const liquidityFraction =
+			calculateInventoryLiquidityRatioForReferencePriceOffset(
+				amm.baseAssetAmountWithAmm,
+				amm.baseAssetReserve,
+				amm.minBaseAssetReserve,
+				amm.maxBaseAssetReserve
+			);
 		const liquidityFractionSigned = liquidityFraction.mul(
 			sigNum(amm.baseAssetAmountWithAmm.add(amm.baseAssetAmountWithUnsettledLp))
 		);
+
+		let liquidityFractionAfterDeadband = liquidityFractionSigned;
+		const deadbandPct = amm.referencePriceOffsetDeadbandPct
+			? PERCENTAGE_PRECISION.mul(
+					new BN(amm.referencePriceOffsetDeadbandPct as number)
+			  ).divn(100)
+			: ZERO;
+		if (!liquidityFractionAfterDeadband.eq(ZERO) && deadbandPct.gt(ZERO)) {
+			const abs = liquidityFractionAfterDeadband.abs();
+			if (abs.lte(deadbandPct)) {
+				liquidityFractionAfterDeadband = ZERO;
+			} else {
+				liquidityFractionAfterDeadband = liquidityFractionAfterDeadband.sub(
+					deadbandPct.mul(sigNum(liquidityFractionAfterDeadband))
+				);
+			}
+		}
+
 		referencePriceOffset = calculateReferencePriceOffset(
 			reservePrice,
 			amm.last24HAvgFundingRate,
-			liquidityFractionSigned,
+			liquidityFractionAfterDeadband,
 			amm.historicalOracleData.lastOraclePriceTwap5Min,
 			amm.lastMarkPriceTwap5Min,
 			amm.historicalOracleData.lastOraclePriceTwap,
diff --git a/sdk/src/types.ts b/sdk/src/types.ts
@@ -1112,6 +1112,7 @@ export type AMM = {
 	ammInventorySpreadAdjustment: number;
 
 	lastFundingOracleTwap: BN;
+	referencePriceOffsetDeadbandPct: number;
 };
 
 // # User Account Types
diff --git a/tests/admin.ts b/tests/admin.ts
@@ -472,6 +472,19 @@ describe('admin', () => {
 		assert(perpMarket.amm.ammSpreadAdjustment == ammSpreadAdjustment);
 	});
 
+	it('update perp market reference offset deadband pct', async () => {
+		const referenceOffsetDeadbandPct = 5;
+		await driftClient.updatePerpMarketReferencePriceOffsetDeadbandPct(
+			0,
+			referenceOffsetDeadbandPct
+		);
+		const perpMarket = driftClient.getPerpMarketAccount(0);
+		assert(
+			perpMarket.amm.referencePriceOffsetDeadbandPct ==
+				referenceOffsetDeadbandPct
+		);
+	});
+
 	it('update pnl pool', async () => {
 		const quoteVault = driftClient.getSpotMarketAccount(0).vault;
 
