# Sending a Quote (Instant Open)

## Instant Open Trade

Instant Opens enable you to open a position immediately by using a market order. This process leverages a prior SIWE login to obtain an access token and then uses that token to send your trade payload to the solver’s instant‑open endpoint.

{% hint style="info" %}
Instant Trading is only for sending MARKET orders
{% endhint %}

### **1. Fetch the Current Price and Apply Slippage**

Retrieve the asset price from Muon (returned in wei). Use the [uPnL\_A\_WithSymbolPrice](/api-endpoints-and-deployments/muon-api.md#upnl_a_withsymbolprice) method to get this price.

```javascript
// Fetch the asset price from Muon (price returned in wei)
async function fetchMuonPrice() {
  try {
    const response = await axios.get(MUON_URL);
    const fetchedPriceWei = response.data.result.data.result.price;
    if (!fetchedPriceWei) {
      throw new Error("Muon price not found in response.");
    }
    return fetchedPriceWei; // as a string (in wei)
  } catch (error) {
    console.error(
      "Error fetching Muon price:",
      error.response?.data || error.message
    );
    throw error;
  }
}
```

For LONG positions, you should increase the fetched price by a fixed percentage (e.g., +1%) to account for the hedger’s spread, for SHORT decrease the price by the same amount. This is the `adjustedPrice` that will be sent to the API endpoint. The adjusted price becomes the basis for calculating the notional value.

### **2. Fetch Locked Parameters**

Query the solver’s [`get_locked_params` ](/api-endpoints-and-deployments/solver-addresses-and-endpoints/rasa-capital.md#get-get_locked_params)endpoint to obtain CVA, LF, PartyAmm, and PartyBmm (provided as percentages). These parameters define the collateral requirements for the trade.

### **3. Calculate Notional Value**

For MARKET orders, compute the notional value as: `notionalValue = quantity * adjustedPrice`

### **4. Compute Normalized Locked Values:**

For each risk parameter (e.g., CVA, LF, PartyAmm, PartyBmm), the normalized locked value is calculated using the formula:

**Normalized Locked Value (Wei)** = (Notional Value × lockedParam) / (100 \* leverage)

{% hint style="info" %}
For `partyBmm`, leverage is not used in the calculation
{% endhint %}

For example:

* **CVA:** `(notionalValue * cva) / (100 * leverage)`
* **LF:** `(notionalValue * lf) / (100 * leverage)`
* **PartyAmm:** `(notionalValue * partyAmm) / (100 * leverage)`
* **PartyBmm:** `(notionalValue * partyBmm) / 100)`

### **5. Build the Trade Payload**

Create an object containing all the required parameters:

* [**`symbolId`**](/exchange-builder-documentation/frontend-builder-technical-guidance/sending-a-quote.md#symbolid)**:** The identifier for the asset (e.g., "340" for XRP).
* [**`positionType`**](/exchange-builder-documentation/frontend-builder-technical-guidance/sending-a-quote.md#positiontype)**:** 0 for LONG (or 1 for SHORT) – note that in instant trading, market orders are used.
* [**`orderType`**](/exchange-builder-documentation/frontend-builder-technical-guidance/sending-a-quote.md#ordertype)**:** Set to 1 for MARKET orders.
* [**`price`**](/exchange-builder-documentation/frontend-builder-technical-guidance/sending-a-quote.md#price)**:** The adjusted price (after applying slippage).
* **`quantity`:** The trade quantity (in 18‑decimals).
* **`cva`, `lf`, `partyAmm`, `partyBmm`:** The normalized locked values calculated above.
* [**`maxFundingRate`**](/contract-documentation/symmio-perps-v0.8.4/facets/partya-facet-0.8.4.md#sendquotewithaffiliate)**:** Maximum funding rate allowed by Party A (converted to 18 decimals).
* **`deadline`:** A Unix timestamp indicating when the trade request expires. It's recommended to use a longer dated expiry (>1 day)

### **6. Send the Instant Open Request:**

Use the access token obtained via SIWE login and send the trade payload to the `/instant_open` endpoint of the solver. This is done via an HTTP POST with appropriate headers.

## Sample Script

Below is a simplified JavaScript example (using ethers and axios) that demonstrates the instant open flow using a LONG XRP order. This includes the login component:

```javascript
require("dotenv").config();
const { ethers } = require("ethers");
const axios = require("axios");
const BigNumber = require("bignumber.js");

const PRIVATE_KEY = process.env.PRIVATE_KEY;
const activeAccount = process.env.activeAccount; // Your sub-account address
const wallet = new ethers.Wallet(PRIVATE_KEY);

// --------------------------------------------------------------------
// Trade Configuration
// --------------------------------------------------------------------

const ORIGIN = "http://localhost:3000";
const CHAIN_ID = 42161;
const LOGIN_URI = `${SOLVER_BASE_URL}/login`;
const ISSUED_AT = new Date().toISOString();
const EXPIRATION_DATE = new Date(Date.now() + 24 * 60 * 60 * 1000).toISOString();
// For locked parameters, append the leverage to the URL:
const LEVERAGE = "1"; // Example leverage value
const LOCKED_PARAMS_URL = `https://www.perps-streaming.com/v1/42161a/0x141269E29a770644C34e05B127AB621511f20109/get_locked_params/XRPUSDT?leverage=${LEVERAGE}`;
const SOLVER_BASE_URL =
  "https://www.perps-streaming.com/v1/42161a/0x141269E29a770644C34e05B127AB621511f20109";
const DOMAIN = "localhost";
// For XRP, the marketId is "340"
const symbolId = 340;
// Position type: 0 for long, 1 for short
const positionType = 0;
// Order type: 0 = limit, 1 = market (instant trading only uses market orders)
const orderType = 1;
// Trade quantity (6.1 XRP tokens) – ensure this exceeds the minimum notional value (e.g. ~$15)
const quantity = "6.1";
// Maximum funding rate as a string (e.g. "200")
const maxFundingRate = "200";
// Deadline: current timestamp + 1 hour (in seconds)
const deadline = Math.floor(Date.now() / 1000) + 3600;

// --------------------------------------------------------------------
// Helper Functions
// --------------------------------------------------------------------
function buildSiweMessage({
  domain,
  address,
  statement,
  uri,
  version,
  chainId,
  nonce,
  issuedAt,
  expirationTime
}) {
  return `${domain} wants you to sign in with your Ethereum account:
${address}

${statement}

URI: ${uri}
Version: ${version}
Chain ID: ${chainId}
Nonce: ${nonce}
Issued At: ${issuedAt}
Expiration Time: ${expirationTime}`;
}

async function getNonce(address) {
  const url = `${SOLVER_BASE_URL}/nonce/${address}`;
  const { data } = await axios.get(url);
  return data.nonce;
}

async function fetchMuonPrice() {
  try {
  //Replace MUON_URL with your GET endpoint for uPnL_A_WithSymbolPrice
    const MUON_URL =
      "";
    const response = await axios.get(MUON_URL);
    const fetchedPriceWei = response.data.result.data.result.price;
    if (!fetchedPriceWei) {
      throw new Error("Muon price not found in response.");
    }
    return fetchedPriceWei;
  } catch (error) {
    console.error(
      "Error fetching Muon price:",
      error.response?.data || error.message
    );
    throw error;
  }
}

async function fetchLockedParams() {
  try {
    const response = await axios.get(LOCKED_PARAMS_URL);
    if (response.data && response.data.message === "Success") {
      return response.data; // Contains: cva, lf, leverage, partyAmm, partyBmm
    } else {
      throw new Error("Failed to fetch locked parameters.");
    }
  } catch (error) {
    console.error(
      "Error fetching locked parameters:",
      error.response?.data || error.message
    );
    throw error;
  }
}

// Compute normalized locked value for a given parameter (e.g. CVA, LF, PartyAmm)
// For CVA, LF, and PartyAmm, the formula is: (notionalValue * lockedParam) / (100 * leverage)
// For PartyBmm, the formula is: (notionalValue * partyBmm) / 100
function calculateNormalizedLockedValue(notional, lockedParam, leverage, applyLeverage = true) {
  if (applyLeverage) {
    return notional.multipliedBy(new BigNumber(lockedParam)).dividedBy(100 * leverage);
  } else {
    return notional.multipliedBy(new BigNumber(lockedParam)).dividedBy(100);
  }
}

// --------------------------------------------------------------------
// openInstantTrade: Executes the instant open trade process
// --------------------------------------------------------------------
async function openInstantTrade(token) {
  try {
    // 1. Fetch the raw asset price (in wei) from Muon.
    const fetchedPriceWei = await fetchMuonPrice();
    console.log("Fetched price (wei):", fetchedPriceWei);

    // 2. Apply a fixed +5% slippage.
    const fetchedPriceBN = new BigNumber(fetchedPriceWei);
    const adjustedPriceBN = fetchedPriceBN.multipliedBy(1.05); //Because we're going LONG, adjust by increasing to account for hedger spread..
    const adjustedPrice = ethers.formatUnits(adjustedPriceBN.toFixed(), 18);
    console.log("Adjusted price (+5%):", adjustedPrice);

    // 3. Fetch locked parameters (includes leverage).
    const lockedParams = await fetchLockedParams();
    console.log("Locked parameters:", lockedParams);

    // 4. Compute the notional value (for MARKET orders: quantity * adjustedPrice)
    const notional = new BigNumber(adjustedPrice).multipliedBy(new BigNumber(quantity));
    console.log("Notional:", notional.toString());

    // 5. Compute normalized locked values:
    const leverage = new BigNumber(lockedParams.leverage);
    const normalizedCVA = calculateNormalizedLockedValue(notional, lockedParams.cva, leverage, true).toFixed();
    const normalizedLF = calculateNormalizedLockedValue(notional, lockedParams.lf, leverage, true).toFixed();
    const normalizedPartyAmm = calculateNormalizedLockedValue(notional, lockedParams.partyAmm, leverage, true).toFixed();
    const normalizedPartyBmm = calculateNormalizedLockedValue(notional, lockedParams.partyBmm, leverage, false).toFixed();

    console.log("Normalized CVA:", normalizedCVA);
    console.log("Normalized LF:", normalizedLF);
    console.log("Normalized PartyAmm:", normalizedPartyAmm);
    console.log("Normalized PartyBmm:", normalizedPartyBmm);

    // 6. Build the trade payload with normalized values.
    const tradeParams = {
      symbolId: symbolId,           // For XRP, this is 340
      positionType: positionType,   // 0 for long (or 1 for short)
      orderType: orderType,         // 1 for market order
      price: adjustedPrice,         // Adjusted price after slippage
      quantity: quantity,           // Quantity in human-readable format (e.g., "6.1")
      cva: normalizedCVA,
      lf: normalizedLF,
      partyAmm: normalizedPartyAmm,
      partyBmm: normalizedPartyBmm,
      maxFundingRate: maxFundingRate,
      deadline: deadline            // Unix timestamp for deadline
    };

    console.log("Trade Payload:", tradeParams);

    // 7. Send the instant open request using the access token.
    const headers = {
      "Content-Type": "application/json",
      Authorization: `Bearer ${token}`
    };

    const response = await axios.post(`${SOLVER_BASE_URL}/instant_open`, tradeParams, { headers });
    console.log("Instant open response:", response.data);
  } catch (error) {
    console.error("Error in openInstantTrade:", error.response?.data || error.message);
  }
}

// --------------------------------------------------------------------
// MAIN FLOW: SIWE Login then Instant Open Trade
// --------------------------------------------------------------------
(async function main() {
  try {
    console.log(`\n[1/4] Wallet Address: ${wallet.address}`);
    const nonce = await getNonce(activeAccount);
    console.log(`[2/4] Got nonce: ${nonce}`);

    const siweMessage = buildSiweMessage({
      domain: DOMAIN,
      address: wallet.address,
      statement: `msg: ${activeAccount}`,
      uri: LOGIN_URI,
      version: "1",
      chainId: CHAIN_ID,
      nonce,
      issuedAt: ISSUED_AT,
      expirationTime: EXPIRATION_DATE
    });
    console.log("\n[3/4] SIWE message to sign:\n", siweMessage);

    const signature = await wallet.signMessage(siweMessage);
    console.log("\nSignature:", signature);

    const loginBody = {
      account_address: activeAccount,
      expiration_time: EXPIRATION_DATE,
      issued_at: ISSUED_AT,
      signature,
      nonce
    };
    const loginHeaders = {
      "Content-Type": "application/json",
      Origin: ORIGIN,
      Referer: ORIGIN
    };

    console.log("\n[4/4] Sending login request...");
    const loginResponse = await axios.post(`${SOLVER_BASE_URL}/login`, loginBody, { headers: loginHeaders });
    console.log("Login response:", loginResponse.data);

    const token = loginResponse.data.access_token;
    if (!token) {
      throw new Error("No access token received from login.");
    }

    await openInstantTrade(token);
  } catch (err) {
    console.error("Error in SIWE login flow:", err.response?.data || err.message);
  }
})();
```


---

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