PerpMarket

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Overview

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Account Structure

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Core Fields

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AMM (Automated Market Maker)

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PnL Pool

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Insurance Claim

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Margin and Risk Parameters

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Liquidation Fees

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Market Status

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Expiry (for Futures)

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User Statistics

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Quote Market

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Protected Maker Mode

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Liquidity Pool

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Record IDs

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Fuel Boost

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Miscellaneous

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AMM Fields

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Oracle

• oracle: Pubkey - Oracle account providing price feeds
• oracle_source: OracleSource - Type of oracle (Pyth, Switchboard, etc.)
• historical_oracle_data: HistoricalOracleData - Historical price data
• last_oracle_normalised_price: i64 - Last normalized oracle price
• last_oracle_conf_pct: u64 - Last oracle confidence percentage
• last_oracle_valid: bool - Whether last oracle update was valid

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AMM Reserves

• base_asset_reserve: u128 - Base asset reserves
• quote_asset_reserve: u128 - Quote asset reserves
• sqrt_k: u128 - Square root of invariant k
• peg_multiplier: u128 - Peg multiplier for price calculation
• terminal_quote_asset_reserve: u128 - Terminal quote reserves
• min_base_asset_reserve: u128 - Minimum base reserves
• max_base_asset_reserve: u128 - Maximum base reserves
• concentration_coef: u128 - Concentration coefficient

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Position Tracking

• base_asset_amount_long: i128 - Total long base asset amount
• base_asset_amount_short: i128 - Total short base asset amount
• base_asset_amount_with_amm: i128 - Net position with AMM
• base_asset_amount_with_unsettled_lp: i128 - Amount with unsettled LP
• max_open_interest: u128 - Maximum allowed open interest

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Quote Amounts

• quote_asset_amount: i128 - Net quote asset amount
• quote_entry_amount_long: i128 - Entry quote amount for longs
• quote_entry_amount_short: i128 - Entry quote amount for shorts
• quote_break_even_amount_long: i128 - Break-even quote for longs
• quote_break_even_amount_short: i128 - Break-even quote for shorts

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Funding Rates

• last_funding_rate: i64 - Most recent funding rate
• last_funding_rate_long: i64 - Funding rate for long positions
• last_funding_rate_short: i64 - Funding rate for short positions
• last24h_avg_funding_rate: i64 - 24-hour average funding rate
• cumulative_funding_rate_long: i128 - Cumulative funding for longs
• cumulative_funding_rate_short: i128 - Cumulative funding for shorts
• last_funding_rate_ts: i64 - Timestamp of last funding update
• funding_period: i64 - Funding period duration
• net_revenue_since_last_funding: i64 - Net revenue accumulation

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Fees

• fee_pool: PoolBalance - Fee pool balance
• total_fee: i128 - Total fees collected
• total_mm_fee: i128 - Total market maker fees
• total_exchange_fee: u128 - Total exchange fees
• total_fee_minus_distributions: i128 - Fees after distributions
• total_fee_withdrawn: u128 - Total withdrawn fees
• total_liquidation_fee: u128 - Total liquidation fees

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Liquidity Provider Data

• user_lp_shares: u128 - Total LP shares issued to users
• base_asset_amount_per_lp: i128 - Base asset per LP share
• quote_asset_amount_per_lp: i128 - Quote asset per LP share
• target_base_asset_amount_per_lp: i32 - Target base asset per LP
• per_lp_base: i8 - Base amount per LP unit

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Spreads and Pricing

• base_spread: u32 - Base spread in basis points
• max_spread: u32 - Maximum spread in basis points
• long_spread: u32 - Spread for long positions
• short_spread: u32 - Spread for short positions
• amm_spread_adjustment: i8 - AMM spread adjustment factor
• amm_inventory_spread_adjustment: i8 - Inventory-based spread adjustment

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Price Tracking

• ask_base_asset_reserve: u128 - Ask side base reserves
• ask_quote_asset_reserve: u128 - Ask side quote reserves
• bid_base_asset_reserve: u128 - Bid side base reserves
• bid_quote_asset_reserve: u128 - Bid side quote reserves
• last_bid_price_twap: u64 - TWAP of bid price
• last_ask_price_twap: u64 - TWAP of ask price
• last_mark_price_twap: u64 - TWAP of mark price
• last_mark_price_twap5min: u64 - 5-minute mark price TWAP
• last_mark_price_twap_ts: i64 - Timestamp of last mark TWAP

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Order Configuration

• order_step_size: u64 - Minimum order size increment
• order_tick_size: u64 - Minimum price increment
• min_order_size: u64 - Minimum order size allowed

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Volume and Volatility

• volume24h: u64 - 24-hour trading volume
• long_intensity_volume: u64 - Long-side intensity volume
• short_intensity_volume: u64 - Short-side intensity volume
• mark_std: u64 - Mark price standard deviation
• oracle_std: u64 - Oracle price standard deviation

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Trade Data

• last_trade_ts: i64 - Timestamp of last trade
• last_update_slot: u64 - Slot of last update

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Risk Controls

• max_fill_reserve_fraction: u16 - Maximum fraction of reserves per fill
• max_slippage_ratio: u16 - Maximum allowed slippage ratio
• curve_update_intensity: u8 - Intensity of curve updates
• amm_jit_intensity: u8 - Just-in-time AMM adjustment intensity

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Reference Price

• reference_price_offset: i32 - Reference price offset
• reference_price_offset_deadband_pct: u8 - Deadband percentage for offset

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Market Maker Oracle

• mm_oracle_price: i64 - Market maker oracle price
• mm_oracle_slot: u64 - Slot of MM oracle update
• mm_oracle_sequence_id: u64 - MM oracle sequence identifier

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Social Loss

• total_social_loss: u128 - Total socialized losses

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Advanced

• last_oracle_reserve_price_spread_pct: i64 - Last spread between oracle and reserves
• net_unsettled_funding_pnl: i64 - Net unsettled funding PnL
• quote_asset_amount_with_unsettled_lp: i64 - Quote amount with unsettled LP
• oracle_low_risk_slot_delay_override: i8 - Override for low-risk slot delay
• oracle_slot_delay_override: i8 - General oracle slot delay override
• last_funding_oracle_twap: i64 - Last funding oracle TWAP

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Methods

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market_index()

fn market_index(&self) -> u16

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oracle_info()

fn oracle_info(&self) -> (MarketId, Pubkey, OracleSource)

• MarketId - The perp market ID
• Pubkey - The oracle account address from amm.oracle
• OracleSource - The oracle source type from amm.oracle_source

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Usage Example

use drift::accounts::PerpMarket;
use drift::MarketMap;

// Get a perp market from the market map
let perp_market_data = market_map.get(&market_index)?;
let perp_market = &perp_market_data.data;

// Access market properties
let market_index = perp_market.market_index();
let (market_id, oracle, oracle_source) = perp_market.oracle_info();

println!("Market: {}", market_index);
println!("Oracle: {}", oracle);
println!("Mark Price TWAP: {}", perp_market.amm.last_mark_price_twap);
println!("Funding Rate: {}", perp_market.amm.last_funding_rate);
println!("Base Asset Reserve: {}", perp_market.amm.base_asset_reserve);
println!("Quote Asset Reserve: {}", perp_market.amm.quote_asset_reserve);

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See Also

• SpotMarket - Spot market structure
• MarketMap - Market subscription and management