Documentation Index
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The MarketThree.calcGlobalFeeRate() static method calculates the global fee rate and total value locked (TVL) metrics by comparing two market snapshots taken at different times.
Usage
import { MarketThree } from "@exponent-labs/exponent-sdk";
// Create market snapshot data from historical and current state
const marketSnapshotCurrent = {
syExchangeRate: 1.02,
currentSpotPrice: 1.08,
financials: currentFinancials,
feeGrowthIndexGlobalPt: 1000000n,
feeGrowthIndexGlobalSy: 2000000n,
currentPrefixSum: 5000000n,
snapshotTimeUnix: Math.floor(Date.now() / 1000),
};
const marketSnapshotHistory = {
syExchangeRate: 1.01,
currentSpotPrice: 1.07,
financials: historicalFinancials,
feeGrowthIndexGlobalPt: 900000n,
feeGrowthIndexGlobalSy: 1800000n,
currentPrefixSum: 4800000n,
snapshotTimeUnix: Math.floor(Date.now() / 1000) - 86400, // 24 hours ago
};
const feeMetrics = MarketThree.calcGlobalFeeRate(
marketSnapshotCurrent,
marketSnapshotHistory
);
console.log("Total fee rate:", feeMetrics.totalFeeRate);
console.log("Total fees (base token):", feeMetrics.totalFeesInBaseToken);
console.log("TVL (base token):", feeMetrics.tvlInBaseToken);
Parameters
| Parameter | Type | Required | Description |
|---|
marketSnapshotDataCurrent | MarketSnapshotData | Yes | Current market snapshot data |
marketSnapshotDataHistory | MarketSnapshotData | Yes | Historical market snapshot data for comparison |
MarketSnapshotData Type
{
syExchangeRate: number; // Current SY exchange rate
currentSpotPrice: number; // Spot price in format of 1 + percentage / 100
financials: MarketThreeFinancials; // Market financial data
feeGrowthIndexGlobalPt: bigint; // Global PT fee growth index
feeGrowthIndexGlobalSy: bigint; // Global SY fee growth index
currentPrefixSum: bigint; // Current prefix sum
snapshotTimeUnix: number; // Snapshot timestamp in Unix seconds
}
Returns
Returns an object with:
{
totalFeeRate: number;
totalFeesInBaseToken: number;
tvlInBaseToken: number;
}
| Property | Type | Description |
|---|
totalFeeRate | number | The calculated fee rate (total fees / TVL) |
totalFeesInBaseToken | number | Total fees earned in base token terms (PT + SY combined) |
tvlInBaseToken | number | Total value locked in base token terms (PT + SY liquidity) |
Calculation Details
The method performs the following calculations:
-
Calculate PT fees in base token:
feePt = (feeGrowthPtCurrent - feeGrowthPtHistory) / currentPrefixSum
feePtInBaseToken = feePt * ptPriceInBaseToken
-
Calculate SY fees in base token:
feeSy = (feeGrowthSyCurrent - feeGrowthSyHistory) / currentPrefixSum
feeSyInBaseToken = feeSy * syExchangeRate
-
Calculate TVL:
ptLiquidity = ptBalance * ptPriceInBaseToken
syLiquidity = syBalance * syExchangeRate
tvl = ptLiquidity + syLiquidity
-
Calculate total fee rate:
totalFeeRate = totalFeesInBaseToken / tvlInBaseToken
The PT price is calculated using time decay based on the time remaining until market expiration.
