diff --git a/programs/mango-v4/src/instructions/liq_token_with_token.rs b/programs/mango-v4/src/instructions/liq_token_with_token.rs
index 82ce70625..98f05292f 100644
--- a/programs/mango-v4/src/instructions/liq_token_with_token.rs
+++ b/programs/mango-v4/src/instructions/liq_token_with_token.rs
@@ -71,8 +71,8 @@ pub fn liq_token_with_token(
             account_retriever.bank_mut_and_oracle(asset_token_index)?;
         let (mut liab_bank, liab_oracle) =
             account_retriever.bank_mut_and_oracle(liab_token_index)?;
-        let asset_price = oracle_price(asset_oracle)?;
-        let liab_price = oracle_price(liab_oracle)?;
+        let asset_price = oracle_price(asset_oracle, asset_bank.mint_decimals)?;
+        let liab_price = oracle_price(liab_oracle, liab_bank.mint_decimals)?;
 
         let liqee_assets_native = liqee
             .tokens
diff --git a/programs/mango-v4/src/instructions/perp_create_market.rs b/programs/mango-v4/src/instructions/perp_create_market.rs
index 8ede1485c..6a739f07b 100644
--- a/programs/mango-v4/src/instructions/perp_create_market.rs
+++ b/programs/mango-v4/src/instructions/perp_create_market.rs
@@ -2,6 +2,7 @@ use anchor_lang::prelude::*;
 use fixed::types::I80F48;
 
 use crate::error::MangoError;
+
 use crate::state::*;
 use crate::util::fill16_from_str;
 
@@ -46,6 +47,7 @@ pub fn perp_create_market(
     perp_market_index: PerpMarketIndex,
     name: String,
     base_token_index_opt: Option<TokenIndex>,
+    base_token_decimals: u8,
     quote_token_index: TokenIndex,
     quote_lot_size: i64,
     base_lot_size: i64,
@@ -79,17 +81,18 @@ pub fn perp_create_market(
         taker_fee: I80F48::from_num(taker_fee),
         min_funding: I80F48::from_num(min_funding),
         max_funding: I80F48::from_num(max_funding),
+        impact_quantity,
         long_funding: I80F48::ZERO,
         short_funding: I80F48::ZERO,
         funding_last_updated: Clock::get()?.unix_timestamp,
-        impact_quantity,
         open_interest: 0,
         seq_num: 0,
         fees_accrued: I80F48::ZERO,
         bump: *ctx.bumps.get("perp_market").ok_or(MangoError::SomeError)?,
-        reserved: Default::default(),
-        perp_market_index,
+        // Why optional - Perp could be based purely on an oracle
         base_token_index: base_token_index_opt.ok_or(TokenIndex::MAX).unwrap(),
+        base_token_decimals,
+        perp_market_index,
         quote_token_index,
     };
 
diff --git a/programs/mango-v4/src/instructions/perp_place_order.rs b/programs/mango-v4/src/instructions/perp_place_order.rs
index d63ab2041..3152084e7 100644
--- a/programs/mango-v4/src/instructions/perp_place_order.rs
+++ b/programs/mango-v4/src/instructions/perp_place_order.rs
@@ -89,7 +89,10 @@ pub fn perp_place_order(
 
         let mut event_queue = ctx.accounts.event_queue.load_mut()?;
 
-        let oracle_price = oracle_price(&ctx.accounts.oracle.to_account_info())?;
+        let oracle_price = oracle_price(
+            &ctx.accounts.oracle.to_account_info(),
+            perp_market.base_token_decimals,
+        )?;
 
         let now_ts = Clock::get()?.unix_timestamp as u64;
         let time_in_force = if expiry_timestamp != 0 {
diff --git a/programs/mango-v4/src/instructions/perp_update_funding.rs b/programs/mango-v4/src/instructions/perp_update_funding.rs
index ac42fc509..418ee6075 100644
--- a/programs/mango-v4/src/instructions/perp_update_funding.rs
+++ b/programs/mango-v4/src/instructions/perp_update_funding.rs
@@ -27,7 +27,10 @@ pub fn perp_update_funding(ctx: Context<PerpUpdateFunding>) -> Result<()> {
     let asks = &ctx.accounts.asks.to_account_info();
     let book = Book::load_mut(bids, asks, &perp_market)?;
 
-    let oracle_price = oracle_price(&ctx.accounts.oracle.to_account_info())?;
+    let oracle_price = oracle_price(
+        &ctx.accounts.oracle.to_account_info(),
+        perp_market.base_token_decimals,
+    )?;
 
     perp_market.update_funding(&book, oracle_price, now_ts as u64)?;
 
diff --git a/programs/mango-v4/src/lib.rs b/programs/mango-v4/src/lib.rs
index e6ba72f68..346c70347 100644
--- a/programs/mango-v4/src/lib.rs
+++ b/programs/mango-v4/src/lib.rs
@@ -196,6 +196,7 @@ pub mod mango_v4 {
         perp_market_index: PerpMarketIndex,
         name: String,
         base_token_index_opt: Option<TokenIndex>,
+        base_token_decimals: u8,
         quote_token_index: TokenIndex,
         quote_lot_size: i64,
         base_lot_size: i64,
@@ -215,6 +216,7 @@ pub mod mango_v4 {
             perp_market_index,
             name,
             base_token_index_opt,
+            base_token_decimals,
             quote_token_index,
             quote_lot_size,
             base_lot_size,
diff --git a/programs/mango-v4/src/state/health.rs b/programs/mango-v4/src/state/health.rs
index 99317ef50..adc0c1de0 100644
--- a/programs/mango-v4/src/state/health.rs
+++ b/programs/mango-v4/src/state/health.rs
@@ -410,7 +410,7 @@ fn compute_health_detail<'a, 'b: 'a>(
     for (i, position) in account.tokens.iter_active().enumerate() {
         let (bank, oracle_ai) =
             retriever.bank_and_oracle(&account.group, i, position.token_index)?;
-        let oracle_price = oracle_price(oracle_ai)?;
+        let oracle_price = oracle_price(oracle_ai, bank.mint_decimals)?;
 
         // converts the token value to the basis token value for health computations
         // TODO: health basis token == USDC?
diff --git a/programs/mango-v4/src/state/oracle.rs b/programs/mango-v4/src/state/oracle.rs
index ba0f9d4cd..bd2eef038 100644
--- a/programs/mango-v4/src/state/oracle.rs
+++ b/programs/mango-v4/src/state/oracle.rs
@@ -5,9 +5,12 @@ use anchor_lang::Discriminator;
 use fixed::types::I80F48;
 use static_assertions::const_assert_eq;
 
+use crate::checked_math as cm;
 use crate::error::MangoError;
 use crate::util::LoadZeroCopy;
 
+pub const QUOTE_DECIMALS: u32 = 6;
+
 #[derive(PartialEq)]
 pub enum OracleType {
     Stub,
@@ -35,7 +38,7 @@ pub fn determine_oracle_type(data: &[u8]) -> Result<OracleType> {
     Err(MangoError::UnknownOracleType.into())
 }
 
-pub fn oracle_price(acc_info: &AccountInfo) -> Result<I80F48> {
+pub fn oracle_price(acc_info: &AccountInfo, base_token_decimals: u8) -> Result<I80F48> {
     let data = &acc_info.try_borrow_data()?;
     let oracle_type = determine_oracle_type(data)?;
 
@@ -43,7 +46,14 @@ pub fn oracle_price(acc_info: &AccountInfo) -> Result<I80F48> {
         OracleType::Stub => acc_info.load::<StubOracle>()?.price,
         OracleType::Pyth => {
             let price_struct = pyth_sdk_solana::load_price(data).unwrap();
-            I80F48::from_num(price_struct.price)
+            let price = I80F48::from_num(price_struct.price);
+            let decimals = (price_struct.expo as u32)
+                .checked_add(QUOTE_DECIMALS)
+                .unwrap()
+                .checked_sub(base_token_decimals as u32)
+                .unwrap();
+            let decimal_adj = I80F48::from_num(10_u32.pow(decimals));
+            cm!(price * decimal_adj)
         }
     })
 }
diff --git a/programs/mango-v4/src/state/perp_market.rs b/programs/mango-v4/src/state/perp_market.rs
index 71d7c1632..c8013e6fe 100644
--- a/programs/mango-v4/src/state/perp_market.rs
+++ b/programs/mango-v4/src/state/perp_market.rs
@@ -71,10 +71,12 @@ pub struct PerpMarket {
 
     /// PDA bump
     pub bump: u8,
-    pub reserved: [u8; 1],
+
+    pub base_token_decimals: u8,
 
     /// Lookup indices
     pub perp_market_index: PerpMarketIndex,
+
     pub base_token_index: TokenIndex,
 
     /// Cannot be chosen freely, must be the health-reference token, same for all PerpMarkets
diff --git a/programs/mango-v4/tests/program_test/mango_client.rs b/programs/mango-v4/tests/program_test/mango_client.rs
index a7751bd46..058843cca 100644
--- a/programs/mango-v4/tests/program_test/mango_client.rs
+++ b/programs/mango-v4/tests/program_test/mango_client.rs
@@ -1343,6 +1343,7 @@ pub struct PerpCreateMarketInstruction<'keypair> {
     pub payer: &'keypair Keypair,
     pub perp_market_index: PerpMarketIndex,
     pub base_token_index: TokenIndex,
+    pub base_token_decimals: u8,
     pub quote_token_index: TokenIndex,
     pub quote_lot_size: i64,
     pub base_lot_size: i64,
@@ -1380,6 +1381,7 @@ impl<'keypair> ClientInstruction for PerpCreateMarketInstruction<'keypair> {
             max_funding: 0.05,
             min_funding: 0.05,
             impact_quantity: 100,
+            base_token_decimals: self.base_token_decimals,
         };
 
         let perp_market = Pubkey::find_program_address(
@@ -1636,6 +1638,7 @@ pub struct PerpUpdateFundingInstruction {
     pub perp_market: Pubkey,
     pub bids: Pubkey,
     pub asks: Pubkey,
+    pub bank: Pubkey,
     pub oracle: Pubkey,
 }
 #[async_trait::async_trait(?Send)]
diff --git a/programs/mango-v4/tests/test_health_compute.rs b/programs/mango-v4/tests/test_health_compute.rs
index 5a6821e13..9edfd04f7 100644
--- a/programs/mango-v4/tests/test_health_compute.rs
+++ b/programs/mango-v4/tests/test_health_compute.rs
@@ -267,6 +267,7 @@ async fn test_health_compute_perp() -> Result<(), TransportError> {
                 payer,
                 perp_market_index: perp_market_index as PerpMarketIndex,
                 base_token_index: quote_token.index,
+                base_token_decimals: quote_token.mint.decimals,
                 quote_token_index: token.index,
                 quote_lot_size: 10,
                 base_lot_size: 100,
diff --git a/programs/mango-v4/tests/test_perp.rs b/programs/mango-v4/tests/test_perp.rs
index 508c4fb11..1668edeb2 100644
--- a/programs/mango-v4/tests/test_perp.rs
+++ b/programs/mango-v4/tests/test_perp.rs
@@ -149,6 +149,7 @@ async fn test_perp() -> Result<(), TransportError> {
             payer,
             perp_market_index: 0,
             base_token_index: tokens[0].index,
+            base_token_decimals: tokens[0].mint.decimals,
             quote_token_index: tokens[1].index,
             quote_lot_size: 10,
             base_lot_size: 100,
diff --git a/ts/client/src/client.ts b/ts/client/src/client.ts
index d9af59dc4..734436667 100644
--- a/ts/client/src/client.ts
+++ b/ts/client/src/client.ts
@@ -700,6 +700,7 @@ export class MangoClient {
     perpMarketIndex: number,
     name: string,
     baseTokenIndex: number,
+    baseTokenDecimals: number,
     quoteTokenIndex: number,
     quoteLotSize: number,
     baseLotSize: number,
@@ -723,6 +724,7 @@ export class MangoClient {
         perpMarketIndex,
         name,
         baseTokenIndex,
+        baseTokenDecimals,
         quoteTokenIndex,
         new BN(quoteLotSize),
         new BN(baseLotSize),
diff --git a/ts/client/src/mango_v4.ts b/ts/client/src/mango_v4.ts
index 36ccd3fb7..efb96abca 100644
--- a/ts/client/src/mango_v4.ts
+++ b/ts/client/src/mango_v4.ts
@@ -1212,6 +1212,12 @@ export type MangoV4 = {
             "option": "u16"
           }
         },
+        {
+          "name": "baseTokenDecimalsOpt",
+          "type": {
+            "option": "u8"
+          }
+        },
         {
           "name": "quoteTokenIndex",
           "type": "u16"
@@ -2149,13 +2155,8 @@ export type MangoV4 = {
             "type": "u8"
           },
           {
-            "name": "reserved",
-            "type": {
-              "array": [
-                "u8",
-                1
-              ]
-            }
+            "name": "baseTokenDecimals",
+            "type": "u8"
           },
           {
             "name": "perpMarketIndex",
@@ -4112,6 +4113,12 @@ export const IDL: MangoV4 = {
             "option": "u16"
           }
         },
+        {
+          "name": "baseTokenDecimalsOpt",
+          "type": {
+            "option": "u8"
+          }
+        },
         {
           "name": "quoteTokenIndex",
           "type": "u16"
@@ -5049,13 +5056,8 @@ export const IDL: MangoV4 = {
             "type": "u8"
           },
           {
-            "name": "reserved",
-            "type": {
-              "array": [
-                "u8",
-                1
-              ]
-            }
+            "name": "baseTokenDecimals",
+            "type": "u8"
           },
           {
             "name": "perpMarketIndex",
diff --git a/ts/client/src/scripts/example1-admin.ts b/ts/client/src/scripts/example1-admin.ts
index 4205c47dd..4efd5db06 100644
--- a/ts/client/src/scripts/example1-admin.ts
+++ b/ts/client/src/scripts/example1-admin.ts
@@ -204,6 +204,7 @@ async function main() {
       0,
       'BTC/USDC',
       0,
+      6,
       1,
       10,
       100,