Show perpetual-options calculator results with two decimal places.

Co-authored-by: Cursor <cursoragent@cursor.com>

docs/快照备份.md

@@ -6,6 +6,7 @@
 
 | 标签 | 指向提交 | 说明 |
 |------|----------|------|
+| `snapshot/20260727` | `f53f281` | 2026-07-27：实例手机壳(下单/关键位/期权)、著作权声明、托管合同(一用户一机)、服务说明与报价说明 |
 | `snapshot/20260726-2` | `4a79e01` | 2026-07-26 午：执行手册脑图（业务主题）、`.xmind` 按二进制入库、去掉缩略图避免 Gitea raw 换行损坏 |
 | `snapshot/20260726` | `a2075ba` | 2026-07-26：Gate划转币种大写修复、系统设置划转页签停留、自动划转账户/币种下拉默认、期权「按可用余额打满」=min(余额,单笔预算)及说明 |
 | `snapshot/20260724` | `890659f` | 2026-07-24：执行手册v2(无对冲)、监控/策略页签显隐、内照明心期权档案同步、期权开平仓微信必发、实例导航显隐关键位/实盘下单等 |
@@ -31,7 +32,7 @@
 git tag -l 'snapshot/*'
 
 # 检出快照（只读查看，勿在此分支直接开发）
-git checkout snapshot/20260726-2
+git checkout snapshot/20260727
 
 # 回到主线
 git checkout main

lib/hub/hub_perp_options_calc_lib.py

@@ -0,0 +1,341 @@
+"""中控永期对冲计算器:永续 1 币 + 按目标盈利反推期权仓位/波动点数(纯函数)."""
+from __future__ import annotations
+
+from typing import Any, Optional, Tuple
+
+from lib.trade.trade_fee_lib import estimate_roundtrip_fee_usdt, taker_fee_rate
+
+DEFAULT_CT_MULT = 0.01
+PERP_COINS = 1.0
+
+
+def _f(v: Any) -> Optional[float]:
+    if v is None or v == "":
+        return None
+    try:
+        return float(v)
+    except (TypeError, ValueError):
+        return None
+
+
+def _parse_base_common(
+    *,
+    base: str,
+    spot: Any,
+    capital_usdt: Any,
+    target_profit_u: Any,
+    perp_leverage: Any,
+    option_leverage: Any,
+    ct_mult: Any,
+) -> Tuple[Optional[dict[str, float]], Optional[str]]:
+    b = (base or "ETH").strip().upper()
+    if b not in ("ETH", "BTC"):
+        return None, "币种仅支持 BTC / ETH"
+    s = _f(spot)
+    capital = _f(capital_usdt)
+    target = _f(target_profit_u)
+    p_lev = _f(perp_leverage)
+    o_lev = _f(option_leverage)
+    ct = _f(ct_mult)
+    if s is None or capital is None or target is None or p_lev is None or o_lev is None:
+        return None, "参数格式错误"
+    if ct is None or ct <= 0:
+        ct = DEFAULT_CT_MULT
+    if s <= 0 or capital <= 0 or p_lev <= 0 or o_lev <= 0:
+        return None, "现价、资金、杠杆须大于 0"
+    if target < 0:
+        return None, "目标盈利不能为负"
+    prem_per_coin = s / o_lev
+    if prem_per_coin <= 0:
+        return None, "单币权利金无效"
+    margin = (s * PERP_COINS) / p_lev
+    return {
+        "base_ok": 1.0,
+        "spot": s,
+        "capital": capital,
+        "target": target,
+        "p_lev": p_lev,
+        "o_lev": o_lev,
+        "ct": ct,
+        "prem_per_coin": prem_per_coin,
+        "margin": margin,
+        "fee_rate": taker_fee_rate(),
+    }, None
+
+
+def _move_for_perp_correct(*, spot: float, target: float, premium: float, fee_rate: float) -> float:
+    """净利 = move − premium − fee(move) = target → 解 move.
+
+    fee = (2*spot + move) * fee_rate
+    move*(1-fee_rate) = target + premium + 2*spot*fee_rate
+    """
+    denom = 1.0 - float(fee_rate)
+    if denom <= 0:
+        return 0.0
+    return (float(target) + float(premium) + 2.0 * float(spot) * float(fee_rate)) / denom
+
+
+def calc_perp_options_hedge(
+    *,
+    base: str = "ETH",
+    spot: float,
+    capital_usdt: float,
+    target_profit_u: float,
+    move_mode: str = "points",
+    move_value: float,
+    perp_leverage: float,
+    option_leverage: float,
+    ct_mult: float = DEFAULT_CT_MULT,
+) -> Tuple[Optional[dict[str, Any]], Optional[str]]:
+    """由波动反推期权开仓币数/张数(calc_mode=size)."""
+    common, err = _parse_base_common(
+        base=base,
+        spot=spot,
+        capital_usdt=capital_usdt,
+        target_profit_u=target_profit_u,
+        perp_leverage=perp_leverage,
+        option_leverage=option_leverage,
+        ct_mult=ct_mult,
+    )
+    if err or not common:
+        return None, err
+
+    s = common["spot"]
+    capital = common["capital"]
+    target = common["target"]
+    p_lev = common["p_lev"]
+    o_lev = common["o_lev"]
+    ct = common["ct"]
+    prem_per_coin = common["prem_per_coin"]
+    margin = common["margin"]
+    fee_rate = common["fee_rate"]
+    b = (base or "ETH").strip().upper()
+
+    move = _f(move_value)
+    mode = (move_mode or "points").strip().lower()
+    if mode not in ("points", "pct", "percent", "rate"):
+        return None, "波动模式须为 points 或 pct"
+    if mode in ("percent", "rate"):
+        mode = "pct"
+    if move is None:
+        return None, "参数格式错误"
+    if move <= 0:
+        return None, "现价、资金、波动、杠杆须大于 0"
+
+    if mode == "pct":
+        move_points = s * (move / 100.0)
+    else:
+        move_points = move
+    if move_points <= 0:
+        return None, "波动对应价格变动须大于 0"
+
+    exit_px = s + move_points
+    perp_gross = move_points * PERP_COINS
+    fee = estimate_roundtrip_fee_usdt(s, exit_px, qty=PERP_COINS, contract_size=1.0)
+
+    premium_budget = perp_gross - target - fee
+    if premium_budget <= 0:
+        return None, "波动收益不足以覆盖目标盈利+手续费，无法开期权"
+
+    opt_coins = premium_budget / prem_per_coin
+    opt_sheets = opt_coins / ct
+    premium_total = opt_coins * prem_per_coin
+
+    case_a_net = perp_gross - premium_total - fee
+    opt_intrinsic = opt_coins * move_points
+    opt_net = opt_intrinsic - premium_total
+    perp_loss = -perp_gross
+    portfolio_net = opt_net + perp_loss
+
+    return {
+        "calc_mode": "size",
+        "base": b,
+        "spot": round(s, 8),
+        "capital_usdt": round(capital, 8),
+        "target_profit_u": round(target, 8),
+        "move_mode": mode,
+        "move_value": round(move, 8),
+        "move_points": round(move_points, 8),
+        "exit_price": round(exit_px, 8),
+        "perp_coins": PERP_COINS,
+        "perp_leverage": round(p_lev, 8),
+        "option_leverage": round(o_lev, 8),
+        "ct_mult": ct,
+        "prem_per_coin": round(prem_per_coin, 8),
+        "perp_gross_u": round(perp_gross, 8),
+        "perp_fee_u": round(fee, 8),
+        "fee_rate": fee_rate,
+        "premium_budget_u": round(premium_budget, 8),
+        "opt_coins": round(opt_coins, 8),
+        "opt_sheets": round(opt_sheets, 8),
+        "premium_total_u": round(premium_total, 8),
+        "perp_margin_u": round(margin, 8),
+        "capital_ok": bool(capital >= margin),
+        "case_a": {
+            "label": "永续方向对",
+            "perp_pnl_u": round(perp_gross, 8),
+            "premium_u": round(premium_total, 8),
+            "fee_u": round(fee, 8),
+            "net_u": round(case_a_net, 8),
+        },
+        "case_b": {
+            "label": "期权方向对",
+            "opt_intrinsic_u": round(opt_intrinsic, 8),
+            "premium_u": round(premium_total, 8),
+            "opt_net_u": round(opt_net, 8),
+            "perp_pnl_u": round(perp_loss, 8),
+            "portfolio_net_u": round(portfolio_net, 8),
+        },
+    }, None
+
+
+def calc_perp_options_points(
+    *,
+    base: str = "ETH",
+    spot: float,
+    capital_usdt: float,
+    target_profit_u: float,
+    perp_leverage: float,
+    option_leverage: float,
+    ratio_perp: float = 1.0,
+    ratio_opt: float = 2.0,
+    ct_mult: float = DEFAULT_CT_MULT,
+) -> Tuple[Optional[dict[str, Any]], Optional[str]]:
+    """按永续:期权比例 + 目标盈利,反推两套情景所需波动点数.
+
+    永续币数固定为 ratio 归一后的 1 币侧(perp_coins = PERP_COINS).
+    期权币数 = PERP_COINS * (ratio_opt / ratio_perp),例 1:2 → 2 币.
+
+    A 永续方向对: move − premium − fee(move) = 目标盈利
+    B 期权方向对:
+      - 期权净利达目标: opt_coins*move − premium = 目标
+      - 组合净利达目标: move*(opt_coins − perp_coins) − premium = 目标
+    """
+    common, err = _parse_base_common(
+        base=base,
+        spot=spot,
+        capital_usdt=capital_usdt,
+        target_profit_u=target_profit_u,
+        perp_leverage=perp_leverage,
+        option_leverage=option_leverage,
+        ct_mult=ct_mult,
+    )
+    if err or not common:
+        return None, err
+
+    rp = _f(ratio_perp)
+    ro = _f(ratio_opt)
+    if rp is None or ro is None or rp <= 0 or ro <= 0:
+        return None, "永续:期权比例须大于 0"
+
+    s = common["spot"]
+    capital = common["capital"]
+    target = common["target"]
+    p_lev = common["p_lev"]
+    o_lev = common["o_lev"]
+    ct = common["ct"]
+    prem_per_coin = common["prem_per_coin"]
+    margin = common["margin"]
+    fee_rate = common["fee_rate"]
+    b = (base or "ETH").strip().upper()
+
+    opt_coins = PERP_COINS * (ro / rp)
+    premium_total = opt_coins * prem_per_coin
+    opt_sheets = opt_coins / ct
+
+    move_a = _move_for_perp_correct(spot=s, target=target, premium=premium_total, fee_rate=fee_rate)
+    if move_a <= 0:
+        return None, "无法解出永续方向对所需点数"
+
+    fee_a = estimate_roundtrip_fee_usdt(s, s + move_a, qty=PERP_COINS, contract_size=1.0)
+    net_a = move_a * PERP_COINS - premium_total - fee_a
+
+    # 期权净利 = 目标
+    move_b_opt = (target + premium_total) / opt_coins
+    opt_net_at_b_opt = opt_coins * move_b_opt - premium_total
+    portfolio_at_b_opt = opt_net_at_b_opt - move_b_opt * PERP_COINS
+
+    # 组合净利 = 目标
+    edge = opt_coins - PERP_COINS
+    if edge <= 0:
+        move_b_port = None
+        port_err = "期权币数须大于永续币数,组合才能在方向对时赚到目标盈利"
+    else:
+        move_b_port = (target + premium_total) / edge
+        port_err = None
+    if move_b_port is not None:
+        opt_net_at_b_port = opt_coins * move_b_port - premium_total
+        portfolio_at_b_port = opt_net_at_b_port - move_b_port * PERP_COINS
+    else:
+        opt_net_at_b_port = None
+        portfolio_at_b_port = None
+
+    return {
+        "calc_mode": "points",
+        "base": b,
+        "spot": round(s, 8),
+        "capital_usdt": round(capital, 8),
+        "target_profit_u": round(target, 8),
+        "ratio_perp": round(rp, 8),
+        "ratio_opt": round(ro, 8),
+        "ratio_label": f"{_fmt_ratio(rp)}:{_fmt_ratio(ro)}",
+        "perp_coins": PERP_COINS,
+        "opt_coins": round(opt_coins, 8),
+        "opt_sheets": round(opt_sheets, 8),
+        "perp_leverage": round(p_lev, 8),
+        "option_leverage": round(o_lev, 8),
+        "ct_mult": ct,
+        "prem_per_coin": round(prem_per_coin, 8),
+        "premium_total_u": round(premium_total, 8),
+        "fee_rate": fee_rate,
+        "perp_margin_u": round(margin, 8),
+        "capital_ok": bool(capital >= margin),
+        "case_a": {
+            "label": "永续方向对",
+            "move_points": round(move_a, 8),
+            "move_pct": round(move_a / s * 100.0, 8),
+            "perp_pnl_u": round(move_a * PERP_COINS, 8),
+            "premium_u": round(premium_total, 8),
+            "fee_u": round(fee_a, 8),
+            "net_u": round(net_a, 8),
+        },
+        "case_b": {
+            "label": "期权方向对",
+            "move_points_opt_net": round(move_b_opt, 8),
+            "move_pct_opt_net": round(move_b_opt / s * 100.0, 8),
+            "opt_net_u": round(opt_net_at_b_opt, 8),
+            "portfolio_net_at_opt_target_u": round(portfolio_at_b_opt, 8),
+            "move_points_portfolio": None if move_b_port is None else round(move_b_port, 8),
+            "move_pct_portfolio": None
+            if move_b_port is None
+            else round(move_b_port / s * 100.0, 8),
+            "opt_net_at_portfolio_target_u": None
+            if opt_net_at_b_port is None
+            else round(opt_net_at_b_port, 8),
+            "portfolio_net_u": None if portfolio_at_b_port is None else round(portfolio_at_b_port, 8),
+            "portfolio_error": port_err,
+            "premium_u": round(premium_total, 8),
+        },
+    }, None
+
+
+def _fmt_ratio(v: float) -> str:
+    if abs(v - round(v)) < 1e-9:
+        return str(int(round(v)))
+    s = f"{v:.4f}".rstrip("0").rstrip(".")
+    return s
+
+
+def calc_perp_options(
+    *,
+    calc_mode: str = "size",
+    **kwargs: Any,
+) -> Tuple[Optional[dict[str, Any]], Optional[str]]:
+    """统一入口:size=由波动推仓位;points=由比例推点数."""
+    mode = (calc_mode or "size").strip().lower()
+    if mode in ("points", "ratio", "move"):
+        return calc_perp_options_points(**kwargs)
+    # size mode: ignore ratio kwargs if present
+    kwargs.pop("ratio_perp", None)
+    kwargs.pop("ratio_opt", None)
+    return calc_perp_options_hedge(**kwargs)

manual_trading_hub/hub.py

@@ -1269,6 +1269,21 @@ class RollCalculatorBody(BaseModel):
     base: str = "ETH"
 
 
+class PerpOptionsCalculatorBody(BaseModel):
+    calc_mode: str = "size"
+    base: str = "ETH"
+    spot: float = Field(gt=0)
+    capital_usdt: float = Field(gt=0)
+    target_profit_u: float = Field(ge=0)
+    move_mode: str = "points"
+    move_value: float | None = None
+    perp_leverage: float = Field(gt=0)
+    option_leverage: float = Field(gt=0)
+    ct_mult: float = Field(default=0.01, gt=0)
+    ratio_perp: float = Field(default=1.0, gt=0)
+    ratio_opt: float = Field(default=2.0, gt=0)
+
+
 class CompareOptionLegBody(BaseModel):
     opt_type: str = "C"
     strike: float | None = None
@@ -1350,6 +1365,44 @@ def api_calculator_roll(body: RollCalculatorBody):
     return {"ok": True, "data": data}
 
 
+@app.post("/api/calculator/perp-options")
+def api_calculator_perp_options(body: PerpOptionsCalculatorBody):
+    from lib.hub.hub_perp_options_calc_lib import calc_perp_options
+
+    mode = (body.calc_mode or "size").strip().lower()
+    if mode in ("points", "ratio", "move"):
+        data, err = calc_perp_options(
+            calc_mode="points",
+            base=body.base,
+            spot=body.spot,
+            capital_usdt=body.capital_usdt,
+            target_profit_u=body.target_profit_u,
+            perp_leverage=body.perp_leverage,
+            option_leverage=body.option_leverage,
+            ct_mult=body.ct_mult,
+            ratio_perp=body.ratio_perp,
+            ratio_opt=body.ratio_opt,
+        )
+    else:
+        if body.move_value is None or body.move_value <= 0:
+            return JSONResponse({"ok": False, "msg": "请填写波动数值"}, status_code=400)
+        data, err = calc_perp_options(
+            calc_mode="size",
+            base=body.base,
+            spot=body.spot,
+            capital_usdt=body.capital_usdt,
+            target_profit_u=body.target_profit_u,
+            move_mode=body.move_mode,
+            move_value=body.move_value,
+            perp_leverage=body.perp_leverage,
+            option_leverage=body.option_leverage,
+            ct_mult=body.ct_mult,
+        )
+    if err:
+        return JSONResponse({"ok": False, "msg": err}, status_code=400)
+    return {"ok": True, "data": data}
+
+
 @app.post("/api/compare/calc")
 def api_compare_calc(body: CompareBody):
     from lib.hub.hub_compare_lib import run_compare

manual_trading_hub/static/app.css

@@ -4708,7 +4708,11 @@ body.login-page {
   }
 
   body.hub-phone .calc-layout[data-calc-tab="trend"] [data-calc-pane="roll"],
-  body.hub-phone .calc-layout[data-calc-tab="roll"] [data-calc-pane="trend"] {
+  body.hub-phone .calc-layout[data-calc-tab="trend"] [data-calc-pane="po"],
+  body.hub-phone .calc-layout[data-calc-tab="roll"] [data-calc-pane="trend"],
+  body.hub-phone .calc-layout[data-calc-tab="roll"] [data-calc-pane="po"],
+  body.hub-phone .calc-layout[data-calc-tab="po"] [data-calc-pane="trend"],
+  body.hub-phone .calc-layout[data-calc-tab="po"] [data-calc-pane="roll"] {
     display: none;
   }
 
@@ -9776,10 +9780,33 @@ body:not(.hub-phone) #page-calculator .calc-layout {
 }
 
 body:not(.hub-phone) #page-calculator .calc-layout[data-calc-tab="trend"] [data-calc-pane="roll"],
-body:not(.hub-phone) #page-calculator .calc-layout[data-calc-tab="roll"] [data-calc-pane="trend"] {
+body:not(.hub-phone) #page-calculator .calc-layout[data-calc-tab="trend"] [data-calc-pane="po"],
+body:not(.hub-phone) #page-calculator .calc-layout[data-calc-tab="roll"] [data-calc-pane="trend"],
+body:not(.hub-phone) #page-calculator .calc-layout[data-calc-tab="roll"] [data-calc-pane="po"],
+body:not(.hub-phone) #page-calculator .calc-layout[data-calc-tab="po"] [data-calc-pane="trend"],
+body:not(.hub-phone) #page-calculator .calc-layout[data-calc-tab="po"] [data-calc-pane="roll"] {
   display: none;
 }
 
+#page-calculator .calc-po-cases {
+  display: grid;
+  gap: 12px;
+  margin-top: 12px;
+}
+
+#page-calculator .calc-po-case {
+  padding: 10px 12px;
+  border: 1px solid var(--border-soft, rgba(255, 255, 255, 0.08));
+  border-radius: 10px;
+  background: color-mix(in srgb, var(--panel, #12161f) 88%, transparent);
+}
+
+#page-calculator .calc-po-case h4 {
+  margin: 0 0 8px;
+  font-size: 13px;
+  font-weight: 600;
+}
+
 body:not(.hub-phone) #page-calculator .calc-card {
   padding: 0;
   background: transparent;

manual_trading_hub/static/calculator.js

@@ -572,8 +572,270 @@
     }
   }
 
+  function renderPerpOptionsResult(data) {
+    const box = $("calc-po-result");
+    if (!box) return;
+    if ((data.calc_mode || "size") === "points") {
+      renderPerpOptionsPointsResult(data);
+      return;
+    }
+    const a = data.case_a || {};
+    const b = data.case_b || {};
+    const capitalHint = data.capital_ok
+      ? "资金充足(参考)"
+      : "保证金高于交易资金(仅提示)";
+    box.classList.remove("hidden");
+    box.innerHTML =
+      '<div class="calc-summary">' +
+      "<div><span>标的</span><strong>" +
+      esc(data.base || "—") +
+      " · 永续 " +
+      fmt(data.perp_coins, 2) +
+      " 币</strong></div>" +
+      "<div><span>单币权利金</span><strong>" +
+      fmt(data.prem_per_coin, 2) +
+      "U</strong></div>" +
+      "<div><span>永续毛收益</span><strong class=\"" +
+      pnlClass(data.perp_gross_u) +
+      '">' +
+      fmtU(data.perp_gross_u) +
+      "</strong></div>" +
+      "<div><span>永续手续费</span><strong>" +
+      fmt(data.perp_fee_u, 2) +
+      "U</strong></div>" +
+      "<div><span>权利金预算</span><strong>" +
+      fmt(data.premium_budget_u, 2) +
+      "U</strong></div>" +
+      "<div><span>期权开仓</span><strong>" +
+      fmt(data.opt_coins, 2) +
+      " 币 / " +
+      fmt(data.opt_sheets, 2) +
+      " 张</strong></div>" +
+      "<div><span>永续保证金</span><strong>" +
+      fmt(data.perp_margin_u, 2) +
+      "U</strong></div>" +
+      "<div><span>开仓参考</span><strong>" +
+      esc(capitalHint) +
+      "</strong></div>" +
+      "</div>" +
+      '<div class="calc-po-cases">' +
+      '<section class="calc-po-case">' +
+      "<h4>情景 A · 永续方向对</h4>" +
+      '<div class="calc-summary">' +
+      "<div><span>永续盈亏</span><strong class=\"" +
+      pnlClass(a.perp_pnl_u) +
+      '">' +
+      fmtU(a.perp_pnl_u) +
+      "</strong></div>" +
+      "<div><span>权利金(全亏)</span><strong>" +
+      fmt(a.premium_u, 2) +
+      "U</strong></div>" +
+      "<div><span>手续费</span><strong>" +
+      fmt(a.fee_u, 2) +
+      "U</strong></div>" +
+      "<div><span>净利</span><strong class=\"" +
+      pnlClass(a.net_u) +
+      '">' +
+      fmtU(a.net_u) +
+      "</strong></div>" +
+      "</div></section>" +
+      '<section class="calc-po-case">' +
+      "<h4>情景 B · 期权方向对</h4>" +
+      '<div class="calc-summary">' +
+      "<div><span>期权内在</span><strong>" +
+      fmtU(b.opt_intrinsic_u) +
+      "</strong></div>" +
+      "<div><span>权利金</span><strong>" +
+      fmt(b.premium_u, 2) +
+      "U</strong></div>" +
+      "<div><span>期权净利</span><strong class=\"" +
+      pnlClass(b.opt_net_u) +
+      '">' +
+      fmtU(b.opt_net_u) +
+      "</strong></div>" +
+      "<div><span>永续盈亏</span><strong class=\"" +
+      pnlClass(b.perp_pnl_u) +
+      '">' +
+      fmtU(b.perp_pnl_u) +
+      "</strong></div>" +
+      "<div><span>组合净利</span><strong class=\"" +
+      pnlClass(b.portfolio_net_u) +
+      '">' +
+      fmtU(b.portfolio_net_u) +
+      "</strong></div>" +
+      "</div></section></div>";
+  }
+
+  function renderPerpOptionsPointsResult(data) {
+    const box = $("calc-po-result");
+    if (!box) return;
+    const a = data.case_a || {};
+    const b = data.case_b || {};
+    const capitalHint = data.capital_ok
+      ? "资金充足(参考)"
+      : "保证金高于交易资金(仅提示)";
+    let caseB =
+      '<section class="calc-po-case">' +
+      "<h4>情景 B · 期权方向对（以组合净利为准）</h4>" +
+      '<div class="calc-summary">';
+    if (b.move_points_portfolio != null) {
+      caseB +=
+        "<div><span>所需波动点数</span><strong>" +
+        fmt(b.move_points_portfolio, 2) +
+        " · " +
+        fmt(b.move_pct_portfolio, 2) +
+        "%</strong></div>" +
+        "<div><span>组合净利</span><strong class=\"" +
+        pnlClass(b.portfolio_net_u) +
+        '">' +
+        fmtU(b.portfolio_net_u) +
+        "</strong></div>" +
+        "<div><span>其中期权净利</span><strong class=\"" +
+        pnlClass(b.opt_net_at_portfolio_target_u) +
+        '">' +
+        fmtU(b.opt_net_at_portfolio_target_u) +
+        "</strong></div>" +
+        "<div><span>其中永续盈亏</span><strong class=\"" +
+        pnlClass(
+          b.portfolio_net_u != null && b.opt_net_at_portfolio_target_u != null
+            ? Number(b.portfolio_net_u) - Number(b.opt_net_at_portfolio_target_u)
+            : null
+        ) +
+        '">' +
+        fmtU(
+          b.portfolio_net_u != null && b.opt_net_at_portfolio_target_u != null
+            ? Number(b.portfolio_net_u) - Number(b.opt_net_at_portfolio_target_u)
+            : null
+        ) +
+        "</strong></div>";
+    } else if (b.portfolio_error) {
+      caseB +=
+        '<div class="calc-field-span2"><span>组合达目标</span><strong class="calc-market-err">' +
+        esc(b.portfolio_error) +
+        "</strong></div>";
+    }
+    caseB += "</div></section>";
+
+    box.classList.remove("hidden");
+    box.innerHTML =
+      '<div class="calc-summary">' +
+      "<div><span>标的</span><strong>" +
+      esc(data.base || "—") +
+      " · 比例 " +
+      esc(data.ratio_label || "—") +
+      "</strong></div>" +
+      "<div><span>仓位</span><strong>永续 " +
+      fmt(data.perp_coins, 2) +
+      " 币 / 期权 " +
+      fmt(data.opt_coins, 2) +
+      " 币(" +
+      fmt(data.opt_sheets, 2) +
+      " 张)</strong></div>" +
+      "<div><span>单币权利金</span><strong>" +
+      fmt(data.prem_per_coin, 2) +
+      "U</strong></div>" +
+      "<div><span>权利金总额</span><strong>" +
+      fmt(data.premium_total_u, 2) +
+      "U</strong></div>" +
+      "<div><span>目标盈利</span><strong>" +
+      fmt(data.target_profit_u, 2) +
+      "U</strong></div>" +
+      "<div><span>永续保证金</span><strong>" +
+      fmt(data.perp_margin_u, 2) +
+      "U</strong></div>" +
+      "<div><span>开仓参考</span><strong>" +
+      esc(capitalHint) +
+      "</strong></div>" +
+      "</div>" +
+      '<div class="calc-po-cases">' +
+      '<section class="calc-po-case">' +
+      "<h4>情景 A · 永续方向对</h4>" +
+      '<div class="calc-summary">' +
+      "<div><span>所需波动点数</span><strong>" +
+      fmt(a.move_points, 2) +
+      " · " +
+      fmt(a.move_pct, 2) +
+      "%</strong></div>" +
+      "<div><span>永续盈亏</span><strong class=\"" +
+      pnlClass(a.perp_pnl_u) +
+      '">' +
+      fmtU(a.perp_pnl_u) +
+      "</strong></div>" +
+      "<div><span>权利金(全亏)</span><strong>" +
+      fmt(a.premium_u, 2) +
+      "U</strong></div>" +
+      "<div><span>手续费</span><strong>" +
+      fmt(a.fee_u, 2) +
+      "U</strong></div>" +
+      "<div><span>净利</span><strong class=\"" +
+      pnlClass(a.net_u) +
+      '">' +
+      fmtU(a.net_u) +
+      "</strong></div>" +
+      "</div></section>" +
+      caseB +
+      "</div>";
+  }
+
+  async function submitPerpOptions(e) {
+    e.preventDefault();
+    const calcMode = ($("calc-po-calc-mode") && $("calc-po-calc-mode").value) || "size";
+    const body = {
+      calc_mode: calcMode,
+      base: ($("calc-po-base") && $("calc-po-base").value) || "ETH",
+      spot: num("calc-po-spot"),
+      capital_usdt: num("calc-po-capital"),
+      target_profit_u: num("calc-po-target"),
+      move_mode: ($("calc-po-move-mode") && $("calc-po-move-mode").value) || "points",
+      move_value: num("calc-po-move"),
+      perp_leverage: num("calc-po-perp-lev"),
+      option_leverage: num("calc-po-opt-lev"),
+      ct_mult: num("calc-po-ct-mult") || 0.01,
+      ratio_perp: num("calc-po-ratio-perp") || 1,
+      ratio_opt: num("calc-po-ratio-opt") || 2,
+    };
+    try {
+      const r = await fetch("/api/calculator/perp-options", {
+        method: "POST",
+        credentials: "same-origin",
+        headers: { "Content-Type": "application/json" },
+        body: JSON.stringify(body),
+      });
+      const j = await r.json();
+      if (!j.ok) {
+        showErr("calc-po-result", j.msg || "计算失败");
+        return;
+      }
+      renderPerpOptionsResult(j.data);
+    } catch (err) {
+      showErr("calc-po-result", String(err));
+    }
+  }
+
+  function syncPoMoveLabel() {
+    const mode = ($("calc-po-move-mode") && $("calc-po-move-mode").value) || "points";
+    const lab = $("calc-po-move-label");
+    if (lab) lab.textContent = mode === "pct" ? "波动率 %" : "波动点数";
+  }
+
+  function syncPoCalcMode() {
+    const mode = ($("calc-po-calc-mode") && $("calc-po-calc-mode").value) || "size";
+    const points = mode === "points";
+    page.querySelectorAll(".calc-po-size-only").forEach(function (el) {
+      el.classList.toggle("hidden", points);
+    });
+    page.querySelectorAll(".calc-po-points-only").forEach(function (el) {
+      el.classList.toggle("hidden", !points);
+    });
+    const moveInput = $("calc-po-move");
+    if (moveInput) {
+      if (points) moveInput.removeAttribute("required");
+      else moveInput.setAttribute("required", "required");
+    }
+  }
+
   function applyCalcTab(tab) {
-    const t = tab === "roll" ? "roll" : "trend";
+    const t = tab === "roll" || tab === "po" ? tab : "trend";
     const layout = page.querySelector(".calc-layout");
     if (layout) layout.setAttribute("data-calc-tab", t);
     page.querySelectorAll(".calc-m-tab").forEach(function (btn) {
@@ -609,13 +871,25 @@
     await loadCalculatorExchanges();
     const trendForm = $("calc-trend-form");
     const rollForm = $("calc-roll-form");
+    const poForm = $("calc-po-form");
     const dirSel = $("calc-trend-direction");
+    const poMode = $("calc-po-move-mode");
+    const poCalcMode = $("calc-po-calc-mode");
     if (trendForm) trendForm.addEventListener("submit", submitTrend);
     if (rollForm) rollForm.addEventListener("submit", submitRoll);
+    if (poForm) poForm.addEventListener("submit", submitPerpOptions);
     if (dirSel) {
       dirSel.addEventListener("change", syncTrendAddLabel);
       syncTrendAddLabel();
     }
+    if (poMode) {
+      poMode.addEventListener("change", syncPoMoveLabel);
+      syncPoMoveLabel();
+    }
+    if (poCalcMode) {
+      poCalcMode.addEventListener("change", syncPoCalcMode);
+      syncPoCalcMode();
+    }
     bindRollLegsUI();
     bindMarket("calc-trend");
     bindMarket("calc-roll");

manual_trading_hub/static/index.html

@@ -16,7 +16,7 @@
   <link rel="preconnect" href="https://fonts.gstatic.com" crossorigin />
   <link href="https://fonts.googleapis.com/css2?family=JetBrains+Mono:wght@400;500;600&family=Orbitron:wght@500;600;700&display=swap" rel="stylesheet" media="print" onload="this.media='all'" />
   <noscript><link href="https://fonts.googleapis.com/css2?family=JetBrains+Mono:wght@400;500;600&family=Orbitron:wght@500;600;700&display=swap" rel="stylesheet" /></noscript>
-      <link rel="stylesheet" href="/assets/app.css?v=20260724-opt-archive" />
+      <link rel="stylesheet" href="/assets/app.css?v=20260728-po-calc" />
   <link rel="stylesheet" href="/assets/trade_stats_calendar.css?v=4" />
   <link rel="stylesheet" href="/assets/account_risk_badge.css?v=4" />
   <script src="/assets/account_risk_badge.js?v=4"></script>
@@ -818,6 +818,9 @@
           <button type="button" class="calc-m-tab" data-calc-tab="roll" role="tab" aria-selected="false">
             <span class="calc-tab-label-mobile">滚仓</span><span class="calc-tab-label-desktop">滚仓计算器</span>
           </button>
+          <button type="button" class="calc-m-tab" data-calc-tab="po" role="tab" aria-selected="false">
+            <span class="calc-tab-label-mobile">永期对冲</span><span class="calc-tab-label-desktop">永期对冲计算器</span>
+          </button>
         </div>
         <div class="calc-layout" data-calc-tab="trend">
         <section class="calc-card card" data-calc-pane="trend">
@@ -958,6 +961,84 @@
             </aside>
           </div>
         </section>
+
+        <section class="calc-card card" data-calc-pane="po">
+          <div class="calc-pane-split">
+            <div class="calc-input-panel">
+              <h2>永期对冲计算器</h2>
+              <p class="calc-hint">永续固定 1 币;单币权利金 = 现价 / 期权杠杆;权利金按全亏;只扣永续开平手续费(各 0.05%).「推仓位」由波动反推期权数量;「推点数」按永续:期权比例反推达目标盈利所需波动.</p>
+              <form id="calc-po-form" class="calc-form">
+                <div class="calc-form-grid">
+                  <label class="calc-field">
+                    <span>测算模式</span>
+                    <select id="calc-po-calc-mode">
+                      <option value="size" selected>由波动推期权仓位</option>
+                      <option value="points">由比例推波动点数</option>
+                    </select>
+                  </label>
+                  <label class="calc-field">
+                    <span>币种</span>
+                    <select id="calc-po-base">
+                      <option value="ETH" selected>ETH</option>
+                      <option value="BTC">BTC</option>
+                    </select>
+                  </label>
+                  <label class="calc-field">
+                    <span>现价</span>
+                    <input id="calc-po-spot" type="number" min="0" step="any" value="1800" required />
+                  </label>
+                  <label class="calc-field">
+                    <span>交易资金 (U·参考)</span>
+                    <input id="calc-po-capital" type="number" min="0.01" step="any" value="3000" required />
+                  </label>
+                  <label class="calc-field">
+                    <span>目标盈利 (U)</span>
+                    <input id="calc-po-target" type="number" min="0" step="any" value="15" required />
+                  </label>
+                  <label class="calc-field calc-po-size-only">
+                    <span>波动模式</span>
+                    <select id="calc-po-move-mode">
+                      <option value="points" selected>波动点数</option>
+                      <option value="pct">波动率 %</option>
+                    </select>
+                  </label>
+                  <label class="calc-field calc-po-size-only">
+                    <span id="calc-po-move-label">波动点数</span>
+                    <input id="calc-po-move" type="number" min="0" step="any" value="50" />
+                  </label>
+                  <label class="calc-field calc-po-points-only hidden">
+                    <span>永续比例</span>
+                    <input id="calc-po-ratio-perp" type="number" min="0.01" step="any" value="1" />
+                  </label>
+                  <label class="calc-field calc-po-points-only hidden">
+                    <span>期权比例</span>
+                    <input id="calc-po-ratio-opt" type="number" min="0.01" step="any" value="2" />
+                  </label>
+                  <label class="calc-field">
+                    <span>永续杠杆</span>
+                    <input id="calc-po-perp-lev" type="number" min="0.01" step="any" value="10" required />
+                  </label>
+                  <label class="calc-field">
+                    <span>期权杠杆</span>
+                    <input id="calc-po-opt-lev" type="number" min="0.01" step="any" value="100" required />
+                  </label>
+                  <label class="calc-field">
+                    <span>合约乘数 ct_mult</span>
+                    <input id="calc-po-ct-mult" type="number" min="0.0001" step="any" value="0.01" required />
+                  </label>
+                </div>
+                <div class="calc-actions">
+                  <button type="submit" class="primary">计算</button>
+                </div>
+              </form>
+            </div>
+            <aside class="calc-result-panel" aria-label="永期对冲结果推算">
+              <h3 class="calc-result-title">结果推算</h3>
+              <p class="calc-result-placeholder">填写左侧参数后点击「计算」</p>
+              <div id="calc-po-result" class="calc-result hidden"></div>
+            </aside>
+          </div>
+        </section>
         </div>
       </div>
     </div>
@@ -1674,7 +1755,7 @@
   <script src="/assets/chart_draw.js?v=20260720-option-day-1600"></script>
   <script src="/assets/chart.js?v=20260720-option-day-1600"></script>
   <script src="/assets/plan.js?v=20260720-autofill"></script>
-  <script src="/assets/calculator.js?v=20260715-calc-tabs"></script>
+  <script src="/assets/calculator.js?v=20260728-po-2dp"></script>
   <script src="/assets/compare.js?v=20260723-compare"></script>
   <script src="/assets/trade_stats_calendar.js?v=3"></script>
   <script src="/assets/archive.js?v=20260724-opt-archive"></script>

tests/test_hub_perp_options_calc_lib.py

@@ -0,0 +1,136 @@
+"""hub_perp_options_calc_lib 永期对冲测算."""
+
+import unittest
+
+from lib.hub.hub_perp_options_calc_lib import (
+    calc_perp_options,
+    calc_perp_options_hedge,
+    calc_perp_options_points,
+)
+
+
+class HubPerpOptionsCalcTests(unittest.TestCase):
+    def test_example_1800_50_15_100(self):
+        data, err = calc_perp_options_hedge(
+            base="ETH",
+            spot=1800,
+            capital_usdt=3000,
+            target_profit_u=15,
+            move_mode="points",
+            move_value=50,
+            perp_leverage=10,
+            option_leverage=100,
+            ct_mult=0.01,
+        )
+        self.assertIsNone(err)
+        assert data is not None
+        self.assertEqual(data["prem_per_coin"], 18.0)
+        self.assertEqual(data["perp_gross_u"], 50.0)
+        # fee = (1800+1850)*0.0005 = 1.825
+        self.assertAlmostEqual(data["perp_fee_u"], 1.825, places=6)
+        self.assertAlmostEqual(data["premium_budget_u"], 33.175, places=6)
+        self.assertAlmostEqual(data["opt_coins"], 33.175 / 18.0, places=6)
+        self.assertAlmostEqual(data["opt_sheets"], data["opt_coins"] / 0.01, places=4)
+        self.assertAlmostEqual(data["case_a"]["net_u"], 15.0, places=6)
+        # B: opt_net = coins*50 - coins*18 = coins*32; portfolio = opt_net - 50
+        coins = data["opt_coins"]
+        self.assertAlmostEqual(data["case_b"]["opt_net_u"], coins * 32.0, places=6)
+        self.assertAlmostEqual(data["case_b"]["portfolio_net_u"], coins * 32.0 - 50.0, places=6)
+        self.assertAlmostEqual(data["perp_margin_u"], 180.0, places=6)
+        self.assertTrue(data["capital_ok"])
+
+    def test_pct_mode(self):
+        data, err = calc_perp_options_hedge(
+            base="BTC",
+            spot=100000,
+            capital_usdt=5000,
+            target_profit_u=100,
+            move_mode="pct",
+            move_value=1,
+            perp_leverage=5,
+            option_leverage=50,
+            ct_mult=0.01,
+        )
+        self.assertIsNone(err)
+        assert data is not None
+        self.assertAlmostEqual(data["move_points"], 1000.0, places=6)
+        self.assertAlmostEqual(data["perp_gross_u"], 1000.0, places=6)
+        self.assertAlmostEqual(data["prem_per_coin"], 2000.0, places=6)
+
+    def test_budget_too_small(self):
+        data, err = calc_perp_options_hedge(
+            base="ETH",
+            spot=1800,
+            capital_usdt=3000,
+            target_profit_u=60,
+            move_mode="points",
+            move_value=50,
+            perp_leverage=10,
+            option_leverage=100,
+        )
+        self.assertIsNone(data)
+        self.assertIn("无法开期权", err or "")
+
+    def test_bad_base(self):
+        data, err = calc_perp_options_hedge(
+            base="SOL",
+            spot=100,
+            capital_usdt=1000,
+            target_profit_u=10,
+            move_mode="points",
+            move_value=5,
+            perp_leverage=5,
+            option_leverage=20,
+        )
+        self.assertIsNone(data)
+        self.assertIsNotNone(err)
+
+    def test_points_ratio_1_to_2(self):
+        # spot=1800, optLev=100 → prem/coin=18; ratio 1:2 → opt=2, premium=36
+        # A: move = (15+36+2*1800*0.0005)/(1-0.0005) = (51+1.8)/0.9995
+        data, err = calc_perp_options_points(
+            base="ETH",
+            spot=1800,
+            capital_usdt=3000,
+            target_profit_u=15,
+            perp_leverage=10,
+            option_leverage=100,
+            ratio_perp=1,
+            ratio_opt=2,
+            ct_mult=0.01,
+        )
+        self.assertIsNone(err)
+        assert data is not None
+        self.assertEqual(data["calc_mode"], "points")
+        self.assertEqual(data["opt_coins"], 2.0)
+        self.assertEqual(data["premium_total_u"], 36.0)
+        expect_a = (15 + 36 + 2 * 1800 * 0.0005) / 0.9995
+        self.assertAlmostEqual(data["case_a"]["move_points"], expect_a, places=6)
+        self.assertAlmostEqual(data["case_a"]["net_u"], 15.0, places=5)
+        # 期权净利=目标: (15+36)/2 = 25.5
+        self.assertAlmostEqual(data["case_b"]["move_points_opt_net"], 25.5, places=6)
+        self.assertAlmostEqual(data["case_b"]["opt_net_u"], 15.0, places=6)
+        # 组合净利=目标: (15+36)/(2-1) = 51
+        self.assertAlmostEqual(data["case_b"]["move_points_portfolio"], 51.0, places=6)
+        self.assertAlmostEqual(data["case_b"]["portfolio_net_u"], 15.0, places=6)
+
+    def test_points_ratio_1_to_1_no_portfolio(self):
+        data, err = calc_perp_options(
+            calc_mode="points",
+            base="ETH",
+            spot=1800,
+            capital_usdt=3000,
+            target_profit_u=15,
+            perp_leverage=10,
+            option_leverage=100,
+            ratio_perp=1,
+            ratio_opt=1,
+        )
+        self.assertIsNone(err)
+        assert data is not None
+        self.assertIsNone(data["case_b"]["move_points_portfolio"])
+        self.assertIsNotNone(data["case_b"]["portfolio_error"])
+
+
+if __name__ == "__main__":
+    unittest.main()