Trade
If on testnet, you can acquire test USDC and Arb ETH on Arbitrum by joining the Futureswap Discord and sending your address in the #testnet-usdc channel.
Approval(address owner, address spender, uint256 value)
changePosition( ) is used to open and close trades, as well as add and remove collateral. To fully close a trade, set both collateral and asset to zero. See a trade flow diagram for details.
changePosition()
ExchangeAddress.changePosition(
int256 deltaAsset,
int256 deltaStable,
int256 stableBound
);
deltaAsset: The amount of asset to long(if positive) or short(if negative) to change/create your position. Denomination: Same as Asset currency's denominationExample #1: To go long 5 ETH from not having a positions open deltaAsset would be: 5 ether (5000000000000000000).Example #2: To go short 5 ETH from not having a positions open deltaAsset would be: -5 ether (-5000000000000000000).Example #3: To go short 5 ETH from being long 12 ETH, a positions open deltaAsset would be: -17 ether (-17000000000000000000).deltaStable: Is the amount of collateral to add if positive, no change if zero, or remove if negative. Denomination: Same as Stable currency's denominationExample #1: To add 123 stable collateral, deltaStable would be: 123 mWei(6 decimals) (123000000).Example #2: To remove 65 stable collateral, deltaStable would be: -65 mWei(6 decimals) (-65000000).stableBound: This bound is for the final execution quantity inclusive of slippage, and any fees. If this is violated the trade will be reverted and collateral returned. Denomination: Same as stable currency's denominationExample #1: If trying to go long 2 ETH at 100 USDC per ETH or lower, your stableBound would be -200 * 10^6 (-200000000). Negative because you are selling(losing) a maximum of 200 USDC to receive 2 ETH long.Example #2: If trying to go short 2 ETH at 110 USDC per ETH or higher, your stableBound would be 220 *10^6 (220000000). Positive because you are selling(losing) 2 ETH for a minimum gain of 220 of USDC.
To fully close a position it is recommended to set deltaStable and deltaAsset both to zero. This is a unique identifier that will fully close the trade and return the collateral + profit/loss.
Parameter | Details |
deltaStable | If Positive: This amount of USDC will be taken from your address and added to your collateral. If Zero: No USDC will be removed from your trade. USDC
may be received by you if this is fully closing your trade If Negative: To withdraw this amount of USDC from a position. Reducing the collateral and increasing the leverage. *Combination: If zero collateral and zero asset are combined this is recognized as intent to fully close to zero and receive 100% of collateral +/- P/L |
deltaAsset | The amount of asset the position should be changed by. If Positive: Buy asset and add to this position. When opening a new position, it would make it into a long position. When updating an existing short position, it could reduce the exposure, close it, or turn it into long, depending on the change. If Zero: Can be used to add/remove collateral If Negative: Sell asset and add an asset debt to this position. When opening a new position, it would make it into a short position. When updating an existing long position, it could reduce the exposure, close it, or turn it into short, depending on the change. *Combination: If zero asset and zero collateral are combined this is recognized as intent to fully close to zero and receive 100% of collateral +/- P/L |
stableBound | The maximum/minimum amount of stable that the user is willing to pay/receive for the deltaAsset change.
This value restricts a Uniswap trade. That is, it would be applied after the Uniswap slippage + fee, as Uniswap combines slippage and fees and just returns less of the resulting token. Note that this restriction applies to the trade on Uniswap, not to the collateral. That is, on the trading flow diagram we are talking about a swap that happens internally between Futureswap and Uniswap. Assuming that the values of stable payed/received in the trade is called stableSwapped, there are four different cases:
|
Name | Description |
startAsset | The amount of asset the position had before changePosition( ) was called |
startStable | The amount of stable the position had before changePosition( ) was called |
totalAsset | The amount of asset the position had after execution of changePosition() |
totalStable | The amount of stable the position had after execution of changePosition() |
tradeFee | The trade fee in stable the trade was charged |
traderPayout | The amount of stable sent to the trader |
Exchange specific trade position details for a user
getPosition()
function getPosition(address _trader)
external
view
returns (
int256 asset,
int256 stable,
uint8 adlTrancheId,
uint64 adlShareClass
);
Return Value | Description |
asset | Amount of asset this position owns (if positive) or borrowed (if negative). A long position would have a positive asset value. As, the asset was purchased and is owned by this position. A short position would have a negative asset value. As, the asset was sold and this position is this much asset in debt. |
stable | Amount of stable this position owns (if positive) or borrowed (if negative). A long position would have a negative asset value. Asset was purchased using stabled borrowed from the liquidity pool. Provided collateral is included in this sum, reducing the amount of debt. A short position would have a positive stable value. Asset was borrowed from the pool and sold for stable that this position now owns. Provided collateral is also included in this sum, further increasing the amount of stable a position has. |
adlTrancheId | Tranche ID, used to monitor ADL events |
adlShareClass | Share class of the tranche trade is in. Used to monitor ADL events |
From the exchange address call assetToken().
address public override assetToken;
This will return the address of the asset token for this exchange. Once you have the address of the token you can use the balanceOf() to find the asset pool size using the token address
balanceOf and the account as the exchange.function balanceOf(address account) public view virtual override returns (uint256) {
This return the amount of asset token available in the Futureswap pool for trading against the uniswap exchange.
From the exchange address call stableToken().
address public override stableToken;
This will return the address of the stable token for this exchange. Once you have the address of the token you can use the balanceOf() to find the stable pool size.
function balanceOf(address account) public view virtual override returns (uint256) {
This return the amount of stable token available in the Futureswap pool for trading against the uniswap exchange. This value is also the max trade size.
To get the funding rate of an exchange first pull the current funding rate constant from the exchange config
exchangeConfig2().ExchangeConfig2 public override exchangeConfig2;
From this object you will get
dfrRate///range: [0, 1 ether]
int256 dfrRate;
Futureswap's funding rate is based on the balance between longs and shorts in an exchange. Next, you'll need to get the total long and short trade amounts. Call the following.
MainPosition public override longPosition;
and
MainPosition public override shortPosition;
This is what is continuously being paid at the current time. Now you'll want to do the following math...
int256 assetDifference = longPosition.asset + shortPosition.asset;
int256 assetToMove = (assetDifference * exchangeConfig2.dfrRate) / 1 ether;
From this you get the Pay Asset Rate (the current funding rate). If you multiple this by a period of time (timeDelta) you'll get how much asset needs to be paid over that period of time.
Exchanges emit a TrancheAutoDeleveraged() event every time ADL occurs. Traders should subscribe to this event to see if their position got ADL'd.
Traders can get their trancheId and shareClass from IExchange.getPosition.
If this event is emitted a trader's position with a matching tranceId and shareClass will have changed
event TrancheAutoDeleveraged(
uint8 indexed trancheId,
uint64 indexed shareClass
);
Return Value | Description |
trancheId | The tranchId being updated |
shareClass | The share class being updated |
Emitted when the dynamic funding rate is charged to all traders
event DFRCharged(
int256 assetToMove,
int256 poolAsset,
int256 totalAssetLong,
int256 totalAssetShort
);
Return Value | Description |
assetToMove | Total amount of asset paid by the more popular trade (longs or shorts) |
poolAsset | The amount of asset earned by the liquidity providers (assetToMove - poolAsset gives one the asset paid to the less popular side) |
totalAssetLong | The new amount of asset that is now long |
totalAssetShort | The new amount of asset that is now short |
This will be available from the Graph but while that is down due to Arbitrum (they are working on a fix) you will need to calculate it manually:
const inverseLeverage = (ONE_ETHER * ONE_ETHER) / maxLeverage.toBigInt();
return asset > 0n
? (stable * ONE_ETHER * ONE_ETHER) / (inverseLeverage * asset - asset * ONE_ETHER)
: -((stable * ONE_ETHER) / ((inverseLeverage * asset) / ONE_ETHER + asset));
maxLeverage being 30 ether
Last modified 1yr ago