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fix: fee-compare HL funding projection + UX labels #2212

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Merged
Flotapponnier merged 1 commit into from
Aug 30, 2026
Merged

fix: fee-compare HL funding projection + UX labels #2212

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13 changes: 7 additions & 6 deletions src/app/api/fee-compare/route.ts
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Original file line number Diff line number Diff line change
Expand Up @@ -1212,7 +1212,7 @@
}

// Estimate GMX borrow fees for a set of position slices.
function estimateGmxBorrowFees(

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'estimateGmxBorrowFees' is defined but never used
positions: PositionSlice[],
borrowPerSecPerCoin: Record<string, number>
): number {
Expand Down Expand Up @@ -1260,7 +1260,8 @@
}

// Compute projected HL funding cost for a set of position slices.
// Uses absolute funding rates so direction doesn't matter for the projection.
// Returns signed net: positive = wallet pays, negative = wallet receives.
// Rate > 0 = longs pay; < 0 = shorts pay (HL convention).
function computeHlFunding(
positions: PositionSlice[],
history: Map<string, Array<{ time: number; rate: number }>>
Expand All @@ -1270,10 +1271,10 @@
const rates = (history.get(pos.coin) ?? []).filter(
(r) => r.time >= pos.openMs && r.time <= pos.closeMs
);
// Each HL funding entry = one 8h interval. Rate > 0 = longs pay; < 0 = shorts pay.
for (const r of rates) {
// positive cost = this position is on the paying side
const cost = pos.isLong ? r.rate : -r.rate;
total += pos.notionalUsd * Math.max(0, cost);
total += pos.notionalUsd * cost;
}
}
return total;
Expand Down Expand Up @@ -1519,7 +1520,7 @@
: fill.notional * otherRate,
}));
} else if (fetchEvmWallet && slug === "gains") {
const CLOSE_ACTIONS = new Set(["TradeClosedMarket", "TradeClosedTP", "TradeClosedSL", "TradeClosedLIQ"]);

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'CLOSE_ACTIONS' is assigned a value but never used
const usdcTrades = gainsTradesData.filter((t) => t.collateralIndex === 3);
const otherSlug = slug === venueA ? venueB : venueA;
const otherRate = slug === venueA ? rateB : rateA;
Expand Down Expand Up @@ -1683,7 +1684,7 @@
borrowFees: 0,
fundingFees: hlFunding,
borrowProjected: false,
fundingProjected: hlFunding > 0.01,
fundingProjected: Math.abs(hlFunding) > 0.01,
};
}

Expand Down Expand Up @@ -1821,9 +1822,9 @@
projectedCarry = {
takerFees,
borrowFees: 0,
fundingFees: hlFunding,
fundingFees: hlFunding, // signed: positive = pays, negative = receives
borrowProjected: false,
fundingProjected: hlFunding > 0.01,
fundingProjected: Math.abs(hlFunding) > 0.01,
};
}

Expand Down
18 changes: 12 additions & 6 deletions src/components/fee-compare-client.tsx
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Original file line number Diff line number Diff line change
Expand Up @@ -560,7 +560,7 @@ function WalletSide({
if (crossSim) {
const carry = crossSim.projectedCarry;
const takerFees = carry ? carry.takerFees : crossSim.equivFees;
const hasCarry = carry && (carry.borrowFees > 0.01 || carry.fundingFees > 0.01);
const hasCarry = carry && (carry.borrowFees > 0.01 || Math.abs(carry.fundingFees) > 0.01);
const netLabel = hasCarry
? "incl. est. carry"
: carry
Expand Down Expand Up @@ -602,18 +602,24 @@ function WalletSide({
<p className="font-mono text-xs font-semibold text-red-400">+{fmtUsd(carry.borrowFees)}</p>
</div>
)}
{carry && carry.borrowProjected === false && carry.fundingFees < 0.01 && (
{carry && carry.borrowProjected === false && Math.abs(carry.fundingFees) < 0.01 && (
<div className="flex items-center justify-between">
<p className="text-[11px] text-ink-faint">Borrowing fees</p>
<p className="text-[11px] text-ink-faint/50 italic">not applicable</p>
</div>
)}
{carry && carry.fundingFees > 0.01 && (
{carry && carry.fundingProjected && carry.fundingFees > 0.01 && (
<div className="flex items-center justify-between">
<p className="text-[11px] text-ink-faint">Est. funding (projected)</p>
<p className="font-mono text-xs font-semibold text-red-400">+{fmtUsd(carry.fundingFees)}</p>
</div>
)}
{carry && carry.fundingProjected && carry.fundingFees < -0.01 && (
<div className="flex items-center justify-between">
<p className="text-[11px] text-ink-faint">Est. funding (projected)</p>
<p className="font-mono text-xs font-semibold text-emerald-500">−{fmtUsd(Math.abs(carry.fundingFees))} received</p>
</div>
)}
{carry && !carry.fundingProjected && carry.borrowFees > 0.01 && (
<div className="flex items-center justify-between">
<p className="text-[11px] text-ink-faint">Funding</p>
Expand Down Expand Up @@ -691,11 +697,11 @@ function WalletSide({
{/* Venue-specific extra stats */}
{venue.slug === "hyperliquid" && (() => {
const hlW = w as HlWalletData;
const hasFunding = Math.abs(hlW.fundingUsd) > 0.5;
const hasFunding = Math.abs(hlW.fundingUsd) > 0.01;
return (
<div className="bg-ink/4 rounded-xl p-3 space-y-2">
<div className="flex items-center justify-between">
<p className="text-[10px] uppercase tracking-[0.14em] text-ink-faint">Volume</p>
<p className="text-[10px] uppercase tracking-[0.14em] text-ink-faint">Total position value</p>
<p className="font-mono text-xs font-semibold text-ink">{fmtUsd(volume)}</p>
</div>
<div className="border-t border-ink/8 pt-2 space-y-1.5">
Expand Down Expand Up @@ -766,7 +772,7 @@ function WalletSide({
)}
{hasBorrowing && (
<div className="flex items-center justify-between">
<p className="text-[11px] text-ink-faint">Borrowing fees</p>
<p className="text-[11px] text-ink-faint">Borrowing fees <span className="text-[9px] text-ink-faint/50">(vault)</span></p>
<p className="font-mono text-xs font-semibold text-red-400">
−{fmtUsd(gW.borrowingFeesUsdc)}
</p>
Expand Down
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