Formulas

Trade Perpetuals (Hedging Agents)
Margin
The margin displayed on your position is computed net of opening fees, i.e.
margin=initial margin - position size×opening fees\texttt{margin} = \texttt{initial margin - position size} \times \texttt{opening fees}margin=initial margin - position size×opening fees
Leverage
In Angle, leverage is computed as:
​leverage=(margin + position Size)margin\texttt{leverage} = \frac{\texttt{(margin + position Size)}}{\texttt{margin}}leverage=margin(margin + position Size)​
​
Example
Margin: 10,000 DAI
Position size: 100,000 DAI
​leverage=1+101=11\texttt{leverage} = \frac{1 + 10}{1} = 11leverage=11+10​=11
​
Cash-out Amount
The Cash-out amount represents the amount you should receive in your wallet after closing the perpetual:
​cash-out amount=margin±gross PnL - closing fee\texttt{cash-out amount} = \texttt{margin} \pm \texttt{gross PnL - closing fee}cash-out amount=margin±gross PnL - closing fee
​
With grossPnL=position size×(1−initialPricecurrentPrice)\texttt{grossPnL} = \texttt{position size}\times(1-\frac{\texttt{initialPrice}}{\texttt{currentPrice}})grossPnL=position size×(1−currentPriceinitialPrice​)
​
Profit & Loss (or PnL)
The PnL displayed on the app represents the gain or loss you would make if closing the position. It is computed net of fees.
​PnL=cash-out amount - initial margin\texttt{PnL} = \texttt{cash-out amount - initial margin}PnL=cash-out amount - initial margin
 PnL=gross PnL - closing fee\texttt{PnL} = \texttt{gross PnL - closing fee}PnL=gross PnL - closing fee
​
Maintenance Margins
DAI: 0.625%
USDC: 0.625%
FEI: 0.625%
FRAX: 0.625%
ETH: 6.25%
Margin Ratio Formula In Angle, the margin ratio is computed as:
margin ratio=cash out amountposition size\texttt{margin ratio} = \frac{\texttt{cash out amount}}{\texttt{position size}}margin ratio=position sizecash out amount​
Est. APR on open positions
In perpetuals/open position page of the app
ANGLE rewards for position holders depends on the Position Size, as what matters for the protocol is how much collateral is hedged. However, the APR is computed from the initial margin, as this is what users bring to the protocol.
Example:
Margin: 10,000 DAI
Position Size: 100,000 DAI
Leverage: 11
Rewards distribution: 5 ANGLE / week / 1,000 DAI in position
ANGLE price: 0.80 DAI
APR=5×52×100×0.8010,000APR = \frac{5\times{52} \times{100} \times{0.80}} {10,000}APR=10,0005×52×100×0.80​
​APR=2.08=208%APR = 2.08 = 208\%APR=2.08=208%
​
Deposit / SLP
Slippage
In the Deposit / SLP page of the app, users may face a slippage when they exit from their position and sell their sanTokens. It depends on specific parameters for the collateral of interest and on the collateral ratio of the stablecoin in the Core module. This is put in place to incentivize them to stay in the protocol while it gets re-collateralized.
amnt received=amnt withdrawn×(1−slippage)\texttt{amnt received} = \texttt{amnt withdrawn} \times{(1 - \texttt{slippage})}amnt received=amnt withdrawn×(1−slippage)
The current slippage for SLP can be consulted in the analytics by selecting a pool and looking at Slippage in the Fee Info > SLP section.
Slippage on Fees for SLP
When the protocol gets close to be under-collateralized, it progressively keeps a bigger portion of the fees usually going to SLPs to grow the suplus and be able to pay back stable holders. Note that this doesn't impact the initial deposits of SLPs nor the fees earned up until the start of the slippageFee.
fees received=fees to SLPs×(1−slippage fee)\texttt{fees received} = \texttt{fees to SLPs} \times{(1-\texttt{slippage fee})}fees received=fees to SLPs×(1−slippage fee)
The current slippageFee for SLP can be consulted in the analytics by selecting a pool and looking at SlippageFee in the Fee Info > SLP section.
Global parameters
If you want to know the current protocol parameters in place, you can have a look at the analytics at analytics.angle.money or directly in the SDK.

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Last modified 30d ago

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Contents

Trade Perpetuals (Hedging Agents)

Margin

Leverage

Cash-out Amount

Profit & Loss (or PnL)

Maintenance Margins

Est. APR on open positions

Deposit / SLP

Slippage

Slippage on Fees for SLP

Global parameters