Trading Volume for Alpha Markets on TermMax

Calculation Logic

In practice, the trading volume is captured from the transaction events, specifically the SwapTokenToExactToken event. The calculation is as follows:

• Trading Volume = tradingAmts - actualTokenIn/Out
• Trading Value = Trading Volume * SNAPSHOT_PRICE (of the respective token)

Definitions

• tradingAmts: The total units of assets involved in the trade.
• actualTokenIn/Out: The actual net amount of assets transferred from/to the user (representing the Premium or Trading Cost).
• Trading Volume: The net amount swapped in the trade.
• SNAPSHOT_PRICE: The USD market price of the respective token at the time the transaction was executed.

For Long positions: This refers to the price of the Underlying Token (e.g., ESPORTS).

For Short positions: This refers to the price of USDT.

Scenarios

BUY LONG

Market: ESPORTS/USDT@14JAN2026-0.5C

Tx: https://bscscan.com/tx/0xa9571899297e084397a8f68ddb58095bb25f3494c235a0d798125c6110926e01

Event: SwapTokenToExactToken

• caller : 0xF1b319ebbc2C234F0b2DDd862308ED4c50d22311
• recipient : 0xF1b319ebbc2C234F0b2DDd862308ED4c50d22311
• orders :0x80A884A7E002613214801698713Ea91Bfd63fFe4
• tradingAmts : 520.000000000000000000
• actualTokenIn : 23.103672587352781553

trading volume: 520.000000000000000000 - 23.103672587352781553 = 496.896327412647218447 (ESPORTS)

trading value: 496.896327412647218447 * ESPORTS_SNAPSHOT_PRICE

CLOSE LONG POSITION

Market: ESPORTS/USDT@14JAN2026-0.5C

Tx: https://bscscan.com/tx/0xb8c96f0cacaf8b1acb36d0fa2c8de4afa550a4c617d17d90a8883d07803d6278

Event: SwapExactTokenToToken

• caller: 0x46358eAE5F8aB316C7a6E419cDE4d4BaE582b2eB
• recipient: 0x46358eAE5F8aB316C7a6E419cDE4d4BaE582b2eB
• orders: 0x80A884A7E002613214801698713Ea91Bfd63fFe4
• tradingAmts: 510.000000000000000000
• actualTokenOut: 19.728902493279607424

trading volume: 510.000000000000000000 - 19.728902493279607424 = 490.271097506720392576 (ESPORTS)

trading value: 490.271097506720392576 * ESPORTS_SNAPSHOT_PRICE

BUY SHORT

Market: GAIX/USDT@14JAN2026-0.05P

Tx: https://bscscan.com/tx/0x887e8d4603fbc411af109de6d3cc5a4607eccb598eecfc0b850a6bb453905316

Event: SwapTokenToExactToken

• caller : 0xF1b319ebbc2C234F0b2DDd862308ED4c50d22311
• recipient : 0xF1b319ebbc2C234F0b2DDd862308ED4c50d22311
• orders : 0xA7f8e641D4aF747a4Ae1a73F159365Cac5eb9D11
• tradingAmts : 200.000004000000000000
• actualTokenIn : 10.248935735810809929

trading volume: 200.000004000000000000 - 10.248935735810809929 = 189.751068264189190071 (USDT)

trading value: 189.751068264189190071 * USDT_SNAPSHOT_PRICE

CLOSE SHOT POSITION

Market: GAIX/USDT@14JAN2026-0.05P

Tx: https://bscscan.com/tx/0x261cab71a68cc7db3228d367c3707229d7697524418848ea4bfc0bda6d562d3f

Event: SwapExactTokenToToken

• caller : 0xF1b319ebbc2C234F0b2DDd862308ED4c50d22311
• recipient : 0xF1b319ebbc2C234F0b2DDd862308ED4c50d22311
• orders : 0xA7f8e641D4aF747a4Ae1a73F159365Cac5eb9D11
• tradingAmts : 150.000003000000000000
• actualTokenOut : 6.753557347820835244

trading volume: 150.000003000000000000 - 6.753557347820835244 = 143.246445652179164756 (USDT)

trading value: 143.246445652179164756 * USDT_SNAPSHOT_PRICE