Order Receive Amount Simulation

Instant Swap

Instant swap receive amount is calculated using Jupiter API.

TWAP

TWAP order receive amount is impossible to calculate. Therefore, the UI displays an estimate amount assuming the exchange rate (price) of the pair remains static during execution period.

The amount is estimated by dividing the order size by the time interval to get the suborder size per crank epoch which is calculated as follows.

// Define Constants
const tifPeriod = 300; // if execution period is 5 minutes (≈300 seconds)
const crankInterval = 5; // crank interval
const tokenA = 10000; // 10000 Token A to be swapped to Token B
const epochs = tifPeriod / crankInterval; // total amount of epochs of trade

// Slice orders
const tifAccountedTokenA = tokenA / intervals; // est amount of token A to be swapped per epoch
const tokenB = fetchFromJupiter(tifAccountedTokenASize); // fetch exchange rate

// Final calculation
const tifAccountedTokenB = tokenB * epochs; // total token B out amount

The TWAP order receive amount is a metric to estimate reduction of price impact as the execution period increases. However, lack of arbitrage activities could result in price impact. It is important to select a conservative execution period for larger size.

Following is the assumptions fo the simulations

• Price remains constant throughout the trade

• No counterparty settlement (all orders via Jupiter)