Market Maker Quickstart

import { Connection } from "@solana/web3.js";
import { Wallet, VelocityClient, loadKeypair } from "@velocity-exchange/sdk";
 
const connection = new Connection("https://api.mainnet-beta.solana.com");
const wallet = new Wallet(loadKeypair("~/.config/solana/id.json"));
 
const velocityClient = new VelocityClient({
  connection,
  wallet,
  env: "mainnet-beta",
});
 
 
await velocityClient.subscribe();
 
// Initialize your user account (if first time)
// const [txSig] = await velocityClient.initializeUserAccount(0);

import { PRICE_PRECISION, convertToNumber } from "@velocity-exchange/sdk";
 
const marketIndex = 0; // SOL-PERP
const oracle = velocityClient.getOracleDataForPerpMarket(marketIndex);
const oraclePrice = convertToNumber(oracle.price, PRICE_PRECISION);
 
console.log(`Oracle price: $${oraclePrice}`);

import {
  PRICE_PRECISION,
  convertToNumber,
  MarketType,
  OrderType,
  PositionDirection,
  PostOnlyParams
} from "@velocity-exchange/sdk";
 
const marketIndex = 0; // SOL-PERP
const spread = 0.5; // $0.50 spread on each side
const size = 0.1; // 0.1 SOL per order
 
// Fetch oracle price for spread calculation
const oracle = velocityClient.getOracleDataForPerpMarket(marketIndex);
const oraclePrice = convertToNumber(oracle.price, PRICE_PRECISION);
 
const bidPrice = oraclePrice - spread;
const askPrice = oraclePrice + spread;
 
await velocityClient.placeOrders([
  {
    orderType: OrderType.LIMIT,
    marketType: MarketType.PERP,
    marketIndex,
    direction: PositionDirection.LONG,
    baseAssetAmount: velocityClient.convertToPerpPrecision(size),
    price: velocityClient.convertToPricePrecision(bidPrice),
    postOnly: PostOnlyParams.MUST_POST_ONLY,
  },
  {
    orderType: OrderType.LIMIT,
    marketType: MarketType.PERP,
    marketIndex,
    direction: PositionDirection.SHORT,
    baseAssetAmount: velocityClient.convertToPerpPrecision(size),
    price: velocityClient.convertToPricePrecision(askPrice),
    postOnly: PostOnlyParams.MUST_POST_ONLY,
  },
]);
 
console.log(`Placed bid @ $${bidPrice}, ask @ $${askPrice}`);

import {
  PRICE_PRECISION,
  BASE_PRECISION,
  convertToNumber,
  MarketType,
  OrderType,
  PositionDirection,
  PostOnlyParams,
} from "@velocity-exchange/sdk";
 
const marketIndex = 0;
const spread = 0.5;
const size = 0.1;
 
setInterval(async () => {
  try {
    // Check current position
    const user = velocityClient.getUser();
    const position = user.getPerpPosition(marketIndex);
    if (position) {
      const posSize = convertToNumber(position.baseAssetAmount, BASE_PRECISION);
      console.log(`Current position: ${posSize} SOL`);
    }
 
    // Cancel all existing orders for this market
    await velocityClient.cancelOrders(MarketType.PERP, marketIndex);
 
    // Re-fetch oracle price
    const oracle = velocityClient.getOracleDataForPerpMarket(marketIndex);
    const oraclePrice = convertToNumber(oracle.price, PRICE_PRECISION);
 
    const bidPrice = oraclePrice - spread;
    const askPrice = oraclePrice + spread;
 
    // Place fresh two-sided quotes
    await velocityClient.placeOrders([
      {
        orderType: OrderType.LIMIT,
        marketType: MarketType.PERP,
        marketIndex,
        direction: PositionDirection.LONG,
        baseAssetAmount: velocityClient.convertToPerpPrecision(size),
        price: velocityClient.convertToPricePrecision(bidPrice),
        postOnly: PostOnlyParams.MUST_POST_ONLY,
      },
      {
        orderType: OrderType.LIMIT,
        marketType: MarketType.PERP,
        marketIndex,
        direction: PositionDirection.SHORT,
        baseAssetAmount: velocityClient.convertToPerpPrecision(size),
        price: velocityClient.convertToPricePrecision(askPrice),
        postOnly: PostOnlyParams.MUST_POST_ONLY,
      },
    ]);
 
    console.log(`Updated quotes: bid $${bidPrice.toFixed(2)} / ask $${askPrice.toFixed(2)}`);
  } catch (err) {
    console.error("Error updating quotes:", err);
  }
}, 10_000); // Update every 10 seconds