Add btcli deriv: covered long/short derivative commands#1007
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Adds a deterministic, in-process sandbox (no chain, no wallet) for the covered continuous-unwind long/short model. Implements the spec's closed-form math against a single shared CPMM pool so users can preview, open, top-up, advance time on, and close short/long positions and see how carry, break-even, close cost, and pool price interact. New command group `deriv` (alias `d`): quote / open / topup / close / advance / status / reset Pure engine in src/commands/deriv/sim.py (no btcli deps); rich render layer in deriv.py; wired into cli.py. Co-authored-by: Cursor <cursoragent@cursor.com>
unconst
requested review from
basfroman,
ibraheem-abe and
thewhaleking
as code owners
Replaces the local simulator with real on-chain commands that drive the pallet-subtensor covered continuous-unwind extrinsics and read the DerivativesRuntimeApi. Commands (`deriv`, alias `d`), all over --network / wallet / --netuid: quote preview open (quote_open_short/long) positions list your positions (get_*_positions / get_*_position) market per-subnet market state (get_subnet_*_state) open open_short / open_long topup top_up_short / top_up_long close close_short / close_long (partial via --fraction) default permissionless default_short / default_long Removes the sandbox sim engine. Co-authored-by: Cursor <cursoragent@cursor.com>
unconst
changed the title
btcli deriv local long/short sandbox simulatorbtcli deriv: covered long/short derivative commands
- Drop `default` from the CLI surface: it's a permissionless keeper op on other accounts' dusted positions, not something a user runs to manage their own positions. The on-chain extrinsic remains available. - Trim `positions` from 9 (truncating) columns to 7 plain-language ones: you paid P / buffer R / you owe / you'd get P+R / close cost / health. - Trim `market` to the 5 fields you need to decide to open: open allowed, base LTV, capacity left, min input, current carry. - Trim `quote` to plain terms (you pay / buffer / you owe / LTV / carry / close cost); drop internal gross-collateral and escrow rows. Core surface: quote, positions, market, open, topup, close. Co-authored-by: Cursor <cursoragent@cursor.com>
`open` now takes the hotkey the same way as other btcli commands (`--hotkey` / `--hotkey-ss58` / `--wallet.hotkey`, plus a `--validator` alias). When an SS58 is given, only the coldkey is validated — so the liability hotkey need not be your own or registered to you. You can stake to a validator and have the position's Alpha/ TAO liability held (and repaid at close) on that validator hotkey. Co-authored-by: Cursor <cursoragent@cursor.com>
basfroman
requested changes
Jun 18, 2026
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Summary
Adds a new
btcli derivcommand group (aliasd) for the covered continuous-unwind long/short derivatives inpallet-subtensor. It drives the real on-chain extrinsics and reads theDerivativesRuntimeApi— no simulation.The economics in three terms: position input P (your capital / floor) + retained-proceeds buffer R (decays over time as carry) + a fixed liability Q (Alpha, short) / D (TAO, long) that you repay to close.
Commands
All take
--network, wallet options, and--netuid;--side short|longselects the side. A tight core loop — easy for a human or an agent.Info (read-only)
quote --netuid N --side ... -a P— preview an open: what you pay, retained buffer, what you owe to close, effective LTV, daily carry, est. close cost.positions --side ... [--netuid N] [--ss58 CK]— your open positions (you paid / buffer / you owe / you'd get P+R / close cost / health).market --netuid N --side ...— whether opens are allowed, base LTV, capacity left, min input, current carry.Lifecycle (extrinsics)
open --netuid N --side ... -a P—open_short/open_long(shows the quote, then confirms).topup --netuid N --side ... -a X—top_up_short/top_up_long(extends the carry buffer).close --netuid N --side ... [-f frac]—close_short/close_long(partial via--fraction, default full).--jsonon every command for agent use.Implementation
bittensor_cli/src/commands/deriv/deriv.py— async impls: compose +sign_and_send_extrinsicfor writes,query_runtime_api("DerivativesRuntimeApi", ...)for reads, lean rich tables. Per-side dispatch keeps short/long symmetric.bittensor_cli/cli.pyfollowing the existingliquiditypattern.Outputs are deliberately trimmed to what a trader needs to decide and act; full structured data is available via
--json. The permissionlessdefault_*keeper extrinsic is intentionally not surfaced in the CLI (niche, acts on other accounts).Test plan
Verified end-to-end against a local subtensor dev network (derivatives enabled via sudo):
deriv market(short & long)deriv quote(short & long)deriv open(short & long)deriv positions(short & long)deriv topupderiv close -f 0.5then full close (short & long)