settlements
TS/Dwhat counts as settled
An entry is settled when the transaction that carries it has reached finality on the cluster, meaning the confirmation status returned by the RPC is "finalized" and not merely "confirmed.1" This desk does not report confirmed transactions as settled. The difference is usually a matter of seconds, but it is the difference between a record and a guess.
anatomy of an entry
| FIELD | WHERE IT COMES FROM | WHAT IT TELLS YOU |
|---|---|---|
| signature | the transaction | the one thing that identifies this entry everywhere, forever |
| slot | the cluster | the position of the block in the chain; later slots are later in time, though not evenly |
| block time | the cluster | the validator's clock at the block; treat it as approximate to the second |
| instrument | decoded from instruction data using the interface | which of the nine instruments ran |
| status | the cluster | this site shows only finalized; nothing else is listed |
| fee | transaction metadata | what the signer paid the network, in the network's own unit, unrelated to the rate sheet fee |
two fees, not one
There is the network fee, which every transaction on the cluster pays to be included, and there is the rate sheet fee, which a counterparty returns to the float on settlement.2 They have nothing to do with each other. The network fee is set by the cluster and paid by whoever signs. The rate sheet fee is set by set_rates and paid in the float's mint. This page shows the network fee because it is in the transaction. The rate sheet fee is visible in the account changes of a settle transaction, as the difference between what left the counterparty and the position's amount.
reading account changes
Every transaction detail page lists each account the transaction touched with its balance before and after. For a settle, expect the counterparty's token account to fall by the amount plus fee, the float vault to rise by the same, and the position account to fall to zero because it was closed and its rent returned to the counterparty. For an open, expect the opposite movement between float vault and counterparty, and the position account to rise from zero to its rent. If the movements do not match that shape, read the log.
failed transactions are not here
A transaction that reverted with a named error is not a settlement and is not listed on this page. It is listed on the incidents page. A transaction that never reached finality is not listed anywhere, because from the chain's point of view it did not happen.1
on the word entry
I use "entry" for a finalized transaction against the system because that is what it is in a book: a line that was written and will not be unwritten.1 "Transaction" is correct and is used on the detail pages where the chain's own terms matter. "Trade" is never used. Nothing here is traded.
- 1. Finality is the point at which the cluster will not reorganise a transaction away, and this desk reports nothing before it.
- 2. The rate sheet is the set of rate parameters held in the config account and printed, unaltered, on the rate sheet page.