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program: calculate_max_perp_order_size account for max margin ratio #1921

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Merged
wphan merged 1 commit into from
Oct 2, 2025
Merged

program: calculate_max_perp_order_size account for max margin ratio #1921

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7 changes: 5 additions & 2 deletions programs/drift/src/math/orders.rs
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Open in desktop
Original file line number Diff line number Diff line change
Expand Up @@ -809,6 +809,7 @@ pub fn calculate_max_perp_order_size(
)?;

let user_custom_margin_ratio = user.max_margin_ratio;
let perp_position_margin_ratio = user.perp_positions[position_index].max_margin_ratio as u32;
let user_high_leverage_mode = user.is_high_leverage_mode(MarginRequirementType::Initial);

let free_collateral_before = total_collateral.safe_sub(margin_requirement.cast()?)?;
Expand Down Expand Up @@ -838,7 +839,8 @@ pub fn calculate_max_perp_order_size(
MarginRequirementType::Initial,
user_high_leverage_mode,
)?
.max(user_custom_margin_ratio);
.max(user_custom_margin_ratio)
.max(perp_position_margin_ratio);

let mut order_size_to_reduce_position = 0_u64;
let mut free_collateral_released = 0_i128;
Expand Down Expand Up @@ -915,7 +917,8 @@ pub fn calculate_max_perp_order_size(
MarginRequirementType::Initial,
user_high_leverage_mode,
)?
.max(user_custom_margin_ratio);
.max(user_custom_margin_ratio)
.max(perp_position_margin_ratio);

Ok((new_order_size, new_margin_ratio))
};
Expand Down
246 changes: 246 additions & 0 deletions programs/drift/src/math/orders/tests.rs
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Original file line number Diff line number Diff line change
Expand Up @@ -2791,6 +2791,252 @@ mod calculate_max_perp_order_size {
assert!(total_collateral.unsigned_abs() - margin_requirement < 100 * QUOTE_PRECISION);
}

#[test]
pub fn sol_perp_5x_bid_perp_position_margin_ratio() {
let slot = 0_u64;

let mut oracle_price = get_pyth_price(100, 6);
let oracle_price_key =
Pubkey::from_str("J83w4HKfqxwcq3BEMMkPFSppX3gqekLyLJBexebFVkix").unwrap();
let pyth_program = crate::ids::pyth_program::id();
create_account_info!(
oracle_price,
&oracle_price_key,
&pyth_program,
oracle_account_info
);
let mut oracle_map = OracleMap::load_one(&oracle_account_info, slot, None).unwrap();

let mut market = PerpMarket {
amm: AMM {
base_asset_reserve: 100 * AMM_RESERVE_PRECISION,
quote_asset_reserve: 100 * AMM_RESERVE_PRECISION,
bid_base_asset_reserve: 100 * AMM_RESERVE_PRECISION,
bid_quote_asset_reserve: 100 * AMM_RESERVE_PRECISION,
ask_base_asset_reserve: 100 * AMM_RESERVE_PRECISION,
ask_quote_asset_reserve: 100 * AMM_RESERVE_PRECISION,
sqrt_k: 100 * AMM_RESERVE_PRECISION,
peg_multiplier: 100 * PEG_PRECISION,
max_slippage_ratio: 50,
max_fill_reserve_fraction: 100,
order_step_size: 1000,
order_tick_size: 1,
oracle: oracle_price_key,
base_spread: 0, // 1 basis point
historical_oracle_data: HistoricalOracleData {
last_oracle_price: (100 * PRICE_PRECISION) as i64,
last_oracle_price_twap: (100 * PRICE_PRECISION) as i64,
last_oracle_price_twap_5min: (100 * PRICE_PRECISION) as i64,

..HistoricalOracleData::default()
},
..AMM::default()
},
margin_ratio_initial: 2000,
margin_ratio_maintenance: 1000,
status: MarketStatus::Initialized,
..PerpMarket::default_test()
};
market.amm.max_base_asset_reserve = u128::MAX;
market.amm.min_base_asset_reserve = 0;

create_anchor_account_info!(market, PerpMarket, market_account_info);
let market_map = PerpMarketMap::load_one(&market_account_info, true).unwrap();

let mut usdc_spot_market = SpotMarket {
market_index: 0,
oracle_source: OracleSource::QuoteAsset,
cumulative_deposit_interest: SPOT_CUMULATIVE_INTEREST_PRECISION,
decimals: 6,
initial_asset_weight: SPOT_WEIGHT_PRECISION,
maintenance_asset_weight: SPOT_WEIGHT_PRECISION,
deposit_balance: 10000 * SPOT_BALANCE_PRECISION,
liquidator_fee: 0,
historical_oracle_data: HistoricalOracleData {
last_oracle_price_twap: PRICE_PRECISION_I64,
last_oracle_price_twap_5min: PRICE_PRECISION_I64,
..HistoricalOracleData::default()
},
..SpotMarket::default()
};
create_anchor_account_info!(usdc_spot_market, SpotMarket, usdc_spot_market_account_info);
let spot_market_account_infos = Vec::from([&usdc_spot_market_account_info]);
let spot_market_map =
SpotMarketMap::load_multiple(spot_market_account_infos, true).unwrap();

let mut spot_positions = [SpotPosition::default(); 8];
spot_positions[0] = SpotPosition {
market_index: 0,
balance_type: SpotBalanceType::Deposit,
scaled_balance: 10000 * SPOT_BALANCE_PRECISION_U64,
..SpotPosition::default()
};
let mut user = User {
orders: [Order::default(); 32],
perp_positions: get_positions(PerpPosition {
market_index: 0,
max_margin_ratio: 2 * MARGIN_PRECISION as u16,
..PerpPosition::default()
}),
spot_positions,
..User::default()
};

let max_order_size = calculate_max_perp_order_size(
&user,
0,
0,
PositionDirection::Long,
&market_map,
&spot_market_map,
&mut oracle_map,
)
.unwrap();

assert_eq!(max_order_size, 49999950000);

user.perp_positions[0].open_orders = 1;
user.perp_positions[0].open_bids = max_order_size as i64;

let MarginCalculation {
margin_requirement,
total_collateral,
..
} = calculate_margin_requirement_and_total_collateral_and_liability_info(
&user,
&market_map,
&spot_market_map,
&mut oracle_map,
MarginContext::standard(MarginRequirementType::Initial).strict(true),
)
.unwrap();

assert_eq!(total_collateral.unsigned_abs(), margin_requirement);
}

#[test]
pub fn sol_perp_5x_ask_perp_position_margin_ratio() {
let slot = 0_u64;

let mut oracle_price = get_pyth_price(100, 6);
let oracle_price_key =
Pubkey::from_str("J83w4HKfqxwcq3BEMMkPFSppX3gqekLyLJBexebFVkix").unwrap();
let pyth_program = crate::ids::pyth_program::id();
create_account_info!(
oracle_price,
&oracle_price_key,
&pyth_program,
oracle_account_info
);
let mut oracle_map = OracleMap::load_one(&oracle_account_info, slot, None).unwrap();

let mut market = PerpMarket {
amm: AMM {
base_asset_reserve: 100 * AMM_RESERVE_PRECISION,
quote_asset_reserve: 100 * AMM_RESERVE_PRECISION,
bid_base_asset_reserve: 100 * AMM_RESERVE_PRECISION,
bid_quote_asset_reserve: 100 * AMM_RESERVE_PRECISION,
ask_base_asset_reserve: 100 * AMM_RESERVE_PRECISION,
ask_quote_asset_reserve: 100 * AMM_RESERVE_PRECISION,
sqrt_k: 100 * AMM_RESERVE_PRECISION,
peg_multiplier: 100 * PEG_PRECISION,
max_slippage_ratio: 50,
max_fill_reserve_fraction: 100,
order_step_size: 1000,
order_tick_size: 1,
oracle: oracle_price_key,
base_spread: 0, // 1 basis point
historical_oracle_data: HistoricalOracleData {
last_oracle_price: (100 * PRICE_PRECISION) as i64,
last_oracle_price_twap: (100 * PRICE_PRECISION) as i64,
last_oracle_price_twap_5min: (100 * PRICE_PRECISION) as i64,

..HistoricalOracleData::default()
},
..AMM::default()
},
margin_ratio_initial: 2000,
margin_ratio_maintenance: 1000,
status: MarketStatus::Initialized,
..PerpMarket::default_test()
};
market.amm.max_base_asset_reserve = u128::MAX;
market.amm.min_base_asset_reserve = 0;

create_anchor_account_info!(market, PerpMarket, market_account_info);
let market_map = PerpMarketMap::load_one(&market_account_info, true).unwrap();

let mut usdc_spot_market = SpotMarket {
market_index: 0,
oracle_source: OracleSource::QuoteAsset,
cumulative_deposit_interest: SPOT_CUMULATIVE_INTEREST_PRECISION,
decimals: 6,
initial_asset_weight: SPOT_WEIGHT_PRECISION,
maintenance_asset_weight: SPOT_WEIGHT_PRECISION,
deposit_balance: 10000 * SPOT_BALANCE_PRECISION,
liquidator_fee: 0,
historical_oracle_data: HistoricalOracleData {
last_oracle_price_twap: PRICE_PRECISION_I64,
last_oracle_price_twap_5min: PRICE_PRECISION_I64,
..HistoricalOracleData::default()
},
..SpotMarket::default()
};
create_anchor_account_info!(usdc_spot_market, SpotMarket, usdc_spot_market_account_info);
let spot_market_account_infos = Vec::from([&usdc_spot_market_account_info]);
let spot_market_map =
SpotMarketMap::load_multiple(spot_market_account_infos, true).unwrap();

let mut spot_positions = [SpotPosition::default(); 8];
spot_positions[0] = SpotPosition {
market_index: 0,
balance_type: SpotBalanceType::Deposit,
scaled_balance: 10000 * SPOT_BALANCE_PRECISION_U64,
..SpotPosition::default()
};
let mut user = User {
orders: [Order::default(); 32],
perp_positions: get_positions(PerpPosition {
market_index: 0,
max_margin_ratio: 2 * MARGIN_PRECISION as u16,
..PerpPosition::default()
}),
spot_positions,
..User::default()
};

let max_order_size = calculate_max_perp_order_size(
&user,
0,
0,
PositionDirection::Short,
&market_map,
&spot_market_map,
&mut oracle_map,
)
.unwrap();

assert_eq!(max_order_size, 49999950000);

user.perp_positions[0].open_orders = 1;
user.perp_positions[0].open_asks = -(max_order_size as i64);

let MarginCalculation {
margin_requirement,
total_collateral,
..
} = calculate_margin_requirement_and_total_collateral_and_liability_info(
&user,
&market_map,
&spot_market_map,
&mut oracle_map,
MarginContext::standard(MarginRequirementType::Initial).strict(true),
)
.unwrap();

assert_eq!(total_collateral.unsigned_abs(), margin_requirement);
}

#[test]
pub fn sol_perp_10x_ask_with_imf() {
let slot = 0_u64;
Expand Down
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