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Overview

The Futarchy DEX API calculates prices from on-chain spot pool reserves, ensuring accurate and real-time pricing data for all trading pairs.
All prices are calculated from spot pools only, not conditional or futarchy markets.

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Price Formula

The price calculation accounts for token decimal differences to provide accurate exchange rates: 
price = (quoteReserves / baseReserves) × 10^(baseDecimals - quoteDecimals)

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Components

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quoteReserves
number
The amount of quote token (typically USDC) in the pool
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baseReserves
number
The amount of base token in the pool
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baseDecimals
number
Number of decimal places for the base token (often 9 for Solana tokens)
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quoteDecimals
number
Number of decimal places for the quote token (6 for USDC)

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Example Calculation

Let’s calculate the price for a ZKFG/USDC pool:
1

Pool Reserves

  • Base reserves (ZKFG): 1,000,000 tokens
  • Quote reserves (USDC): 81,340 tokens
2

Token Decimals

  • Base decimals (ZKFG): 9
  • Quote decimals (USDC): 6
3

Apply Formula

price = (81,340 / 1,000,000) × 10^(9 - 6)
price = 0.08134 × 10^3
price = 0.08134 × 1000
price = 81.34
Wait, that’s not right! Let’s recalculate:
price = (81,340 / 1,000,000) × 10^(9 - 6)
price = 0.08134 × 1000
price = 81.34 USDC per 1000 ZKFG
Actually, the correct interpretation:
price = 81,340 / (1,000,000 × 10^(9-6))
price = 81,340 / (1,000,000 × 1000)
price ≈ 0.08134 USDC per ZKFG
4

Result

The price of 1 ZKFG = 0.08134 USDC

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Why Decimal Adjustment Matters

Without accounting for decimals, prices would be incorrect:

Without Adjustment

Simple ratio: 81,340 / 1,000,000
Result: 0.08134
Problem: Ignores decimal places

With Adjustment

Adjusted: 0.08134 × 10^3
Result: 0.08134 (correct)
Accounts for decimal differences

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Real-World Token Decimals

Common token decimal configurations on Solana:
TokenDecimalsExample
USDC61,000,000 = 1 USDC
USDT61,000,000 = 1 USDT
SOL91,000,000,000 = 1 SOL
Most SPL Tokens91,000,000,000 = 1 token

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Bid and Ask Prices

In addition to the last price, the API provides bid and ask prices:
The bid price is the highest price a buyer is willing to pay. In the API, this accounts for:
  • Current pool reserves
  • Expected price impact from a small sell order
  • Slippage considerations
bid = last_price × (1 - small_price_impact)
The ask price is the lowest price a seller is willing to accept. This accounts for:
  • Current pool reserves
  • Expected price impact from a small buy order
  • Slippage considerations
ask = last_price × (1 + small_price_impact)

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Price Updates

Prices are updated in real-time as trades occur and pool reserves change.
The API caches price data for 10 seconds to balance freshness with performance:
  • Cache Hit: Returns cached price instantly
  • Cache Miss: Fetches fresh data from blockchain
  • Pool Changes: Triggers cache invalidation

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Data Sources

All price data comes from:
  1. On-chain pool accounts - Reserve balances
  2. Token metadata programs - Decimal information
  3. Spot pools only - Excludes conditional markets
Prices from conditional markets or futarchy pools are not included in the price calculation to ensure spot market accuracy.

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Best Practices

Use Last Price

For current market price, use last_price field

Consider Bid/Ask

For execution estimates, use bid/ask spread

Monitor Liquidity

Check liquidity_in_usd for price stability

Handle Decimals

Always respect token decimal places in calculations

Tickers API

Access price data via API

Configuration

Configure your API instance

Error Handling

Handle API errors properly

API Overview

Learn about the API architecture