merge and default slippage to 2.5%

components/MarketCloseModal.tsx

@@ -25,9 +25,10 @@ const MarketCloseModal: FunctionComponent<MarketCloseModalProps> = ({
   const [submitting, setSubmitting] = useState(false)
   const actions = useMangoStore((s) => s.actions)
   const mangoClient = useMangoStore((s) => s.connection.client)
-  const orderBookRef = useRef(useMangoStore.getState().selectedMarket.orderBook)
   const config = useMangoStore.getState().selectedMarket.config
 
+  const orderBookRef = useRef(useMangoStore.getState().selectedMarket.orderBook)
+  const orderbook = orderBookRef.current
   useEffect(
     () =>
       useMangoStore.subscribe(
@@ -38,6 +39,22 @@ const MarketCloseModal: FunctionComponent<MarketCloseModalProps> = ({
     []
   )
 
+  const markPriceRef = useRef(useMangoStore.getState().selectedMarket.markPrice)
+  const markPrice = markPriceRef.current
+  useEffect(
+    () =>
+      useMangoStore.subscribe(
+        (markPrice) => (markPriceRef.current = markPrice as number),
+        (state) => state.selectedMarket.markPrice
+      ),
+    []
+  )
+
+  // The reference price is the book mid if book is double sided; else mark price
+  const bb = orderbook?.bids?.length > 0 && Number(orderbook.bids[0][0])
+  const ba = orderbook?.asks?.length > 0 && Number(orderbook.asks[0][0])
+  const referencePrice = bb && ba ? (bb + ba) / 2 : markPrice
+
   async function handleMarketClose() {
     const mangoAccount = useMangoStore.getState().selectedMangoAccount.current
     const mangoGroup = useMangoStore.getState().selectedMangoGroup.current
@@ -54,11 +71,13 @@ const MarketCloseModal: FunctionComponent<MarketCloseModalProps> = ({
     try {
       const perpAccount = mangoAccount.perpAccounts[marketIndex]
       const side = perpAccount.basePosition.gt(ZERO_BN) ? 'sell' : 'buy'
-      const price = 1
       // send a large size to ensure we are reducing the entire position
       const size =
         Math.abs(market.baseLotsToNumber(perpAccount.basePosition)) * 2
 
+      // hard coded for now; market orders are very dangerous and fault prone
+      const maxSlippage: number | undefined = 0.025
+
       const txid = await mangoClient.placePerpOrder(
         mangoGroup,
         mangoAccount,
@@ -66,9 +85,9 @@ const MarketCloseModal: FunctionComponent<MarketCloseModalProps> = ({
         market,
         wallet,
         side,
-        price,
+        referencePrice * (1 + (side === 'buy' ? 1 : -1) * maxSlippage),
         size,
-        'market',
+        'ioc',
         0, // client order id
         side === 'buy' ? askInfo : bidInfo,
         true // reduce only

components/trade_form/AdvancedTradeForm.tsx

@@ -100,6 +100,10 @@ export default function AdvancedTradeForm({
 
   const isTriggerOrder = TRIGGER_ORDER_TYPES.includes(tradeType)
 
+  // TODO saml - create a tick box on the UI; Only available on perps
+  // eslint-disable-next-line
+  const [postOnlySlide, setPostOnlySlide] = useState(false)
+
   const [postOnly, setPostOnly] = useState(false)
   const [ioc, setIoc] = useState(false)
   const [submitting, setSubmitting] = useState(false)
@@ -108,7 +112,7 @@ export default function AdvancedTradeForm({
   const orderbook = orderBookRef.current
   const [maxSlippage, setMaxSlippage] = useLocalStorageStringState(
     MAX_SLIPPAGE_KEY,
-    '0.01'
+    '0.025'
   )
   const [maxSlippagePercentage, setMaxSlippagePercentage] = useState(
     parseFloat(maxSlippage) * 100
@@ -368,15 +372,27 @@ export default function AdvancedTradeForm({
     }
   }
 
+  // TODO saml - use
+  // eslint-disable-next-line
+  const postOnlySlideOnChange = (checked) => {
+    if (checked) {
+      setIoc(false)
+      setPostOnly(false)
+    }
+    setPostOnlySlide(checked)
+  }
+
   const postOnChange = (checked) => {
     if (checked) {
       setIoc(false)
+      setPostOnlySlide(false)
     }
     setPostOnly(checked)
   }
   const iocOnChange = (checked) => {
     if (checked) {
       setPostOnly(false)
+      setPostOnlySlide(false)
     }
     setIoc(checked)
   }
@@ -436,6 +452,11 @@ export default function AdvancedTradeForm({
           'close-position'
         ).toLowerCase()}`
 
+  // The reference price is the book mid if book is double sided; else mark price
+  const bb = orderbook?.bids?.length > 0 && Number(orderbook.bids[0][0])
+  const ba = orderbook?.asks?.length > 0 && Number(orderbook.asks[0][0])
+  const referencePrice = bb && ba ? (bb + ba) / 2 : markPrice
+
   let priceImpact
   let estimatedPrice = price
   if (tradeType === 'Market' && baseSize > 0) {
@@ -474,11 +495,6 @@ export default function AdvancedTradeForm({
         : baseSize
     estimatedPrice = estimateMarketPrice(orderbook, estimatedSize || 0, side)
 
-    // The reference price is the book mid if book is double sided; else mark price
-    const bb = orderbook?.bids?.length > 0 && Number(orderbook.bids[0][0])
-    const ba = orderbook?.asks?.length > 0 && Number(orderbook.asks[0][0])
-    const referencePrice = bb && ba ? (bb + ba) / 2 : markPrice
-
     const slippageAbs =
       estimatedSize > 0 ? Math.abs(estimatedPrice - referencePrice) : 0
     const slippageRel = slippageAbs / referencePrice

hooks/useMarkPrice.tsx

@@ -21,12 +21,16 @@ export default function useMarkPrice() {
     const ba = orderbook?.asks?.length > 0 && Number(orderbook.asks[0][0])
     const last = trades && trades.length > 0 && trades[0].price
 
-    const newMarkPrice =
+    const priceElements = [bb, ba, last].filter((e) => e).sort((a, b) => a - b)
-      bb && ba
+    const newMarkPrice = priceElements
-        ? last
+      ? priceElements[Math.floor(priceElements.length / 2)]
-          ? [bb, ba, last].sort((a, b) => a - b)[1]
+      : null
-          : (bb + ba) / 2
+    // const newMarkPrice =
-        : null
+    //   bb && ba
+    //     ? last
+    //       ? [bb, ba, last].sort((a, b) => a - b)[1]
+    //       : (bb + ba) / 2
+    //     : null
     if (newMarkPrice !== markPrice) {
       setMangoStore((state) => {
         state.selectedMarket.markPrice = newMarkPrice?.toFixed(