https://github.com/0xNineteen/drift-funding-vault

Capture Drift Funding Rates On-Chain -- if the funding rate is negative (longs get paid) then the vault opens a new long and captures the funding rate
https://github.com/0xNineteen/drift-funding-vault

anchor drift funding-rates solana

Last synced: 2 months ago
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Capture Drift Funding Rates On-Chain -- if the funding rate is negative (longs get paid) then the vault opens a new long and captures the funding rate

• Host: GitHub
• URL: https://github.com/0xNineteen/drift-funding-vault
• Owner: 0xNineteen
• Created: 2022-04-08T02:55:10.000Z (almost 3 years ago)
• Default Branch: master
• Last Pushed: 2022-04-15T02:32:59.000Z (almost 3 years ago)
• Last Synced: 2024-11-18T11:23:50.184Z (2 months ago)
• Topics: anchor, drift, funding-rates, solana
• Language: TypeScript
• Homepage:
• Size: 539 KB
• Stars: 5
• Watchers: 1
• Forks: 1
• Open Issues: 0
• Metadata Files:
  • Readme: README.md

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README

        
# Capture Drift Funding Rates On-Chain

## Program API 

- `initialize_vault`: initialize a new vault 

- `deposit`: deposit collateral (usdc) into vault and get vault tokens 

- `withdraw`: withdraw deposited collateral from vault by burning vault tokens 

- `update_position`: update the vault's position (can be called by anyone)

    - if the funding rate means the shorts pays the longs => will go long 

    - if the funding rate means the longs pays the shorts => will go short 

## Tests

- `test/`

    - `drift_vault.ts`: main vault tests

        -  ✔ initializes the vault (500ms)

        - ✔ deposits into vault (545ms)

        - ✔ opens a long when mark < oracle (1539ms)

        - ✔ closes long and goes short when mark > oracle (1555ms)

        - ✔ withdraws from the vault (510ms)

        - ✔ re-deposits in the vault, goes long, captures funding, closes for profit (15625ms)

    - `clearing_house_primitives`: example tests of how to interact directly with the clearing house via API 

other files are copy-pasta'd from the `cpi-examples` repo (see References).

## Setup 

- change `[provider]` `wallet` path in `Anchor.toml`

- install anchor version manager (`avm`) with versions `0.22.0` and `0.19.0` installed 

- `bash setup.sh`: build the clearing house, sdk, mock-pyth program, and vault program 

## Notes

- `protocol-v1` is modified to include a new method `update_twaps` which allows anyone to set the oracle / mark twaps to whatever they want -- was useful for unit testing different funding rates 

## References 

- largely based off of drift's [cpi-example](https://github.com/drift-labs/cpi-example)