From 8a56bf77d117415b28831795036d204341e81d0c Mon Sep 17 00:00:00 2001
From: chemavx <chemavx@chemavx.xyz>
Date: Wed, 22 Apr 2026 11:05:47 +0000
Subject: [PATCH] fix(accounting): use size_usdc (not net_cost) for positions
 in initialize()
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Eliminates the phantom 0.4% exposure overage after pod restarts.

During live trading execute() stores size_usdc in portfolio.positions and
deducts net_cost from cash — so total_value = bankroll − fees and
exposure_pct = sum(size_usdc) / (bankroll − fees).

Old initialize() stored net_cost in positions, making total_value = bankroll
and inflating exposure_pct (observed: 30.085% vs runtime 29.670%).

Fix: new get_open_position_data() returns both {market_id: size_usdc} and
total_net_cost in one query; initialize() uses size_usdc for positions and
total_net_cost for cash — identical model to execute().

Co-Authored-By: Claude Sonnet 4.6 <noreply@anthropic.com>
---
 bot/data/db.py        | 21 +++++++++++++++++++++
 bot/executor/paper.py | 30 ++++++++++++++++++++++--------
 2 files changed, 43 insertions(+), 8 deletions(-)

diff --git a/bot/data/db.py b/bot/data/db.py
index a23a4b5..6cb6410 100644
--- a/bot/data/db.py
+++ b/bot/data/db.py
@@ -91,6 +91,27 @@ class Database:
             )
             return {r["market_id"]: float(r["total"]) for r in rows}
 
+    async def get_open_position_data(self) -> tuple[dict[str, float], float]:
+        """Return (positions_by_size_usdc, total_net_cost) for all open trades.
+
+        positions_by_size_usdc  — {market_id: size_usdc} mirrors what live trading
+                                  stores in portfolio.positions (no fee included).
+        total_net_cost          — SUM(net_cost) across all open trades, used to
+                                  reconstruct cash = bankroll − total_net_cost.
+
+        Together these let initialize() replicate the exact same accounting model
+        that execute() uses at runtime, eliminating the phantom exposure overage
+        caused by the old net_cost-in-positions approach.
+        """
+        async with self._pool.acquire() as conn:
+            rows = await conn.fetch(
+                "SELECT market_id, SUM(size_usdc) AS sz, SUM(net_cost) AS nc "
+                "FROM trades WHERE closed_at IS NULL GROUP BY market_id"
+            )
+            positions = {r["market_id"]: float(r["sz"]) for r in rows}
+            total_net_cost = sum(float(r["nc"]) for r in rows)
+            return positions, total_net_cost
+
     async def get_open_families(self) -> set[str]:
         """Return the set of family_key values from all open positions.
 
diff --git a/bot/executor/paper.py b/bot/executor/paper.py
index 7f80767..73145da 100644
--- a/bot/executor/paper.py
+++ b/bot/executor/paper.py
@@ -82,20 +82,34 @@ class PaperExecutor:
         Called once after __init__ so the executor reflects any trades that
         survived a pod restart.  After a TRUNCATE the DB is empty and the
         portfolio resets to a full bankroll automatically.
+
+        Accounting model (must match execute() exactly):
+          positions[market_id] = size_usdc   (fee excluded — same as runtime)
+          cash = bankroll - sum(net_cost)    (fees already spent)
+          total_value = cash + sum(size_usdc) = bankroll - sum(fees)
+          exposure_pct = sum(size_usdc) / total_value
         """
-        positions = await self._db.get_open_positions()
-        if not positions:
+        positions_size, total_net_cost = await self._db.get_open_position_data()
+        if not positions_size:
             log.info("No open positions in DB — starting with full bankroll")
             return
 
-        total_deployed = sum(positions.values())
-        self._portfolio.positions = positions
-        self._portfolio.cash = max(0.0, self._portfolio.cash - total_deployed)
+        positions_value = sum(positions_size.values())
+        self._portfolio.positions = positions_size
+        self._portfolio.cash = max(0.0, self._portfolio.cash - total_net_cost)
+
+        total_value = self._portfolio.cash + positions_value
+        exposure_pct = positions_value / total_value if total_value > 0 else 0.0
         log.info(
-            "Restored %d open position(s) from DB — deployed $%.2f, cash $%.2f",
-            len(positions),
-            total_deployed,
+            "Restored %d open position(s) from DB — "
+            "positions_value=$%.2f net_cost_spent=$%.2f cash=$%.2f "
+            "total_value=$%.2f exposure=%.2f%%",
+            len(positions_size),
+            positions_value,
+            total_net_cost,
             self._portfolio.cash,
+            total_value,
+            exposure_pct * 100,
         )
 
     def get_portfolio(self) -> Portfolio: