Add sideways max-loss to perpetual-options calculator.

Show premium wipeout plus flat round-trip perp fees as case C for both size and points modes. Co-authored-by: Cursor <cursoragent@cursor.com>
Restructure live order form into labeled rows for clearer hierarchy.
2026-07-29 22:38:20 +08:00 · 2026-07-29 09:24:17 +08:00 · 2026-07-28 15:41:53 +08:00
13 changed files with 252 additions and 107 deletions
@@ -6,7 +6,7 @@

 | 标签 | 指向提交 | 说明 |
 |------|----------|------|
-| `snapshot/20260728-2` | `722c511` | 2026-07-28 午后：振幅统计改为波动点数→振幅占比、两日振幅(例25日16:00→27日16:00)；去掉买跨/永期对照 |
+| `snapshot/20260728-2` | `05864d7` | 2026-07-28 午后：振幅统计改为波动点数→振幅占比、两日振幅(例25日16:00→27日16:00)；去掉买跨/永期对照 |
 | `snapshot/20260728` | `c73e363` | 2026-07-28：中控永期对冲计算器（由波动推仓位 / 由比例推点数）、说明文档 |
 | `snapshot/20260727` | `f53f281` | 2026-07-27：实例手机壳(下单/持仓/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 |
@@ -65,6 +65,19 @@ API：`POST /api/calculator/perp-options`
 组合净利 = 期权净利 + 永续亏损
 ```

+**C · 横盘（最大亏损）**
+
+波动≈0、期权到期无内在价值：
+
+```text
+永续盈亏 ≈ 0
+永续开平手续费 = 2 × 现价 × 1 × 0.05%   （同价开平）
+最大亏损 = 权利金总额 + 永续开平手续费
+组合净利 = −最大亏损
+```
+
+忽略资金费 / Theta 过程中的中间态；口径与「权利金按全亏」一致。
+
 ### 手测示例

 现价 1800、波动 50 点、目标盈利 15、期权杠杆 100、永续杠杆 10：
@@ -126,6 +139,7 @@ move = (目标 + 权利金) / (期权币数 − 1)
 |------|----------------|
 | A 永续方向对（净利=15） | ≈52.83 |
 | B 组合净利=15 | 51.00 |
+| C 横盘最大亏损 | 37.80（权利金 36 + 同价开平费 1.8） |

 ---

@@ -22,8 +22,24 @@
        .card h2{font-size:1rem;margin-bottom:10px;color:#d4d9ff}
        .form-row{display:flex;gap:8px;flex-wrap:wrap;margin-bottom:10px;align-items:center}
        .form-row > input:not([type=checkbox]):not([type=radio]),.form-row > select{flex:0 1 auto;width:10rem;max-width:200px;min-width:7rem}
-        #add-order-form #sltp-mode{min-width:12.5rem;max-width:16rem;width:auto}
+        /* 实盘下单监控:分层布局 */
+        .order-monitor-form{display:flex;flex-direction:column;gap:10px;margin-bottom:4px}
+        .order-monitor-form .om-row{display:flex;flex-wrap:wrap;align-items:flex-end;gap:8px}
+        .order-monitor-form .om-row-policy > input:not([type=checkbox]):not([type=radio]),
+        .order-monitor-form .om-row-policy > select{flex:0 1 auto;width:10rem;max-width:200px;min-width:7rem}
+        .order-monitor-form #sltp-mode{min-width:12.5rem;max-width:16rem;width:auto}
+        .order-monitor-form .om-field{display:flex;flex-direction:column;gap:4px;min-width:7.5rem}
+        .order-monitor-form .om-field-lab{font-size:.72rem;color:#9aa3c7;line-height:1;letter-spacing:.02em}
+        .order-monitor-form .om-field input{width:9.5rem;max-width:160px;box-sizing:border-box}
+        .order-monitor-form .om-live-meta{display:flex;flex-wrap:wrap;align-items:center;gap:8px;padding-bottom:2px;margin-left:auto}
+        .order-monitor-form .om-row-opts{align-items:center;gap:12px;padding-top:2px}
+        .order-monitor-form .om-check{display:inline-flex;align-items:center;gap:5px;font-size:.82rem;color:#cfd3ef;cursor:pointer;user-select:none}
+        .order-monitor-form .om-time-close{display:inline-flex;align-items:center;gap:6px;font-size:.82rem;color:#cfd3ef}
+        .order-monitor-form .om-time-close select{width:auto;min-width:4.2rem;max-width:5.5rem;padding:6px 8px}
+        .order-monitor-form .om-row-action{padding-top:2px}
+        .order-monitor-form .om-submit{min-width:11rem;padding:10px 18px;font-weight:600}
        .order-plan-preview{display:flex;gap:18px;flex-wrap:wrap;align-items:center;margin:4px 0 10px;padding:10px 12px;background:#151a28;border:1px solid #2a3150;border-radius:8px;font-size:.85rem}
+        #add-order-form #sltp-mode{min-width:12.5rem;max-width:16rem;width:auto}
        .order-preview-risk{color:#ff6b6b}
        .order-preview-risk strong{color:#ff8f8f;font-weight:600}
        .order-preview-profit{color:#4cd97f}
@@ -1959,6 +1959,15 @@ html[data-theme="light"] .order-plan-preview {
  border-color: #b8c8d8 !important;
 }

+html[data-theme="light"] .order-monitor-form .om-field-lab {
+  color: #5a6a82;
+}
+
+html[data-theme="light"] .order-monitor-form .om-check,
+html[data-theme="light"] .order-monitor-form .om-time-close {
+  color: #3a4a62;
+}
+
 html[data-theme="light"] .order-preview-rr {
  color: #4a6078 !important;
 }
@@ -5680,6 +5689,36 @@ html[data-theme="light"] .options-review-wrap .or-reviewed-table tbody tr:hover
    max-width: 100%;
  }

+  body.inst-phone .order-monitor-form .om-row {
+    align-items: stretch;
+  }
+
+  body.inst-phone .order-monitor-form .om-row-policy > input:not([type="checkbox"]):not([type="radio"]),
+  body.inst-phone .order-monitor-form .om-row-policy > select,
+  body.inst-phone .order-monitor-form #sltp-mode,
+  body.inst-phone .order-monitor-form .om-field,
+  body.inst-phone .order-monitor-form .om-live-meta,
+  body.inst-phone .order-monitor-form .om-check,
+  body.inst-phone .order-monitor-form .om-time-close,
+  body.inst-phone .order-monitor-form .order-entry-model-row,
+  body.inst-phone .order-monitor-form .om-submit {
+    flex: 1 1 100% !important;
+    width: 100% !important;
+    max-width: 100% !important;
+    min-width: 0;
+    box-sizing: border-box;
+    margin-left: 0;
+  }
+
+  body.inst-phone .order-monitor-form .om-field input {
+    width: 100% !important;
+    max-width: 100% !important;
+  }
+
+  body.inst-phone .order-monitor-form .om-live-meta {
+    padding-bottom: 0;
+  }
+
  body.inst-phone .order-plan-preview {
    flex-direction: column;
    align-items: flex-start;
@@ -75,6 +75,25 @@ def _move_for_perp_correct(*, spot: float, target: float, premium: float, fee_ra
    return (float(target) + float(premium) + 2.0 * float(spot) * float(fee_rate)) / denom


+def _case_sideways(*, spot: float, premium_total: float) -> dict[str, Any]:
+    """横盘/到期无方向:永续≈0,期权权利金全亏,另计永续开平同价手续费.
+
+    最大亏损(正数) = 权利金总额 + 开平手续费(exit=entry)
+    组合净利 = −最大亏损
+    """
+    fee_flat = estimate_roundtrip_fee_usdt(spot, spot, qty=PERP_COINS, contract_size=1.0)
+    prem = float(premium_total)
+    max_loss = prem + float(fee_flat)
+    return {
+        "label": "横盘",
+        "perp_pnl_u": 0.0,
+        "premium_u": round(prem, 8),
+        "fee_u": round(float(fee_flat), 8),
+        "max_loss_u": round(max_loss, 8),
+        "net_u": round(-max_loss, 8),
+    }
+
+
 def calc_perp_options_hedge(
    *,
    base: str = "ETH",
@@ -186,6 +205,7 @@ def calc_perp_options_hedge(
            "perp_pnl_u": round(perp_loss, 8),
            "portfolio_net_u": round(portfolio_net, 8),
        },
+        "case_sideways": _case_sideways(spot=s, premium_total=premium_total),
    }, None


@@ -316,6 +336,7 @@ def calc_perp_options_points(
            "portfolio_error": port_err,
            "premium_u": round(premium_total, 8),
        },
+        "case_sideways": _case_sideways(spot=s, premium_total=premium_total),
    }, None


@@ -1279,6 +1279,12 @@ if(fullMarginEl){
 }

 const sltpModeEl = document.getElementById("sltp-mode");
+function setOmFieldVisible(inputEl, show){
+    if(!inputEl) return;
+    inputEl.style.display = show ? "" : "none";
+    const wrap = inputEl.closest(".om-field");
+    if(wrap) wrap.style.display = show ? "" : "none";
+}
 function toggleSltpMode(){
    const mode = sltpModeEl ? sltpModeEl.value : "fixed_rr";
    const slEl = document.getElementById("order-sl");
@@ -1289,14 +1295,14 @@ function toggleSltpMode(){
    if(!slEl || !tpEl || !slPctEl || !tpPctEl){ return; }
    const pct = mode === "pct";
    const fixed = mode === "fixed_rr";
-    slEl.style.display = pct ? "none" : "";
-    tpEl.style.display = (pct || fixed) ? "none" : "";
-    if(fixedRrEl) fixedRrEl.style.display = fixed ? "" : "none";
+    setOmFieldVisible(slEl, !pct);
+    setOmFieldVisible(tpEl, !(pct || fixed));
+    setOmFieldVisible(fixedRrEl, fixed);
    slEl.required = !pct;
    tpEl.required = !pct && !fixed;
    if(fixedRrEl) fixedRrEl.required = fixed;
-    slPctEl.style.display = pct ? "" : "none";
-    tpPctEl.style.display = pct ? "" : "none";
+    setOmFieldVisible(slPctEl, pct);
+    setOmFieldVisible(tpPctEl, pct);
    slPctEl.required = pct;
    tpPctEl.required = pct;
    refreshOrderTpPreview();
@@ -97,50 +97,7 @@
                {% endif %}
            </div>
            {% include order_rule_tips_tpl %}
-            <form id="add-order-form" action="/add_order" method="post" class="form-row" data-risk-percent="{{ risk_percent }}">
-                {% from 'trade_policy_fields.html' import trade_policy_symbol, trade_policy_direction with context %}
-                {{ trade_policy_symbol('symbol', 'order-symbol') }}
-                {{ trade_policy_direction('direction', 'order-direction') }}
-                <select id="sltp-mode" name="sltp_mode">
-                    <option value="fixed_rr" selected>止盈止损:固定盈亏比</option>
-                    <option value="price">止盈止损:价格模式</option>
-                    <option value="pct">止盈止损:百分比模式</option>
-                </select>
-                {% from 'order_entry_model_fields.html' import order_entry_type_fields with context %}
-                {{ order_entry_type_fields() }}
-                {% from 'order_leverage_fields.html' import order_leverage_fields with context %}
-                {{ order_leverage_fields() }}
-                {% if not intraday_discipline %}
-                <label style="display:flex;align-items:center;gap:4px;font-size:.82rem;color:#cfd3ef">
-                    <input type="checkbox" name="breakeven_enabled" value="1" checked> 启用移动保本(关闭则仅保留初始止损与交易所挂单)
-                </label>
-                <span id="order-time-close-wrap" class="order-time-close-wrap" style="display:inline-flex;align-items:center;gap:4px;font-size:.82rem;color:#cfd3ef">
-                    <label style="display:inline-flex;align-items:center;gap:4px;margin:0;cursor:pointer">
-                        <input type="checkbox" name="time_close_enabled" value="1" id="order-time-close-cb"> 时间平仓
-                    </label>
-                    <select name="time_close_hours" id="order-time-close-hours" title="持仓满该时长后自动平仓">
-                        <option value="1">1h</option>
-                        <option value="2">2h</option>
-                        <option value="4" selected>4h</option>
-                    </select>
-                </span>
-                {% else %}
-                <input type="hidden" name="breakeven_enabled" value="0">
-                {% endif %}
-                <label style="display:flex;align-items:center;gap:4px;font-size:.82rem;color:#cfd3ef">
-                    <input type="checkbox" name="order_chart" value="true"> 开仓后生成多周期K线图(各周期100根,含开平仓标记)
-                </label>
-                {% from 'symbol_live_price_snippet.html' import symbol_live_price_hint %}
-                {{ symbol_live_price_hint('order-symbol-live-price', 'order-symbol', 'order-direction') }}
-                <span class="symbol-live-price-note">下单成交价以交易所成交回报为准</span>
-                <input id="order-sl" name="sl" step="any" placeholder="止损价格" required>
-                <input id="order-fixed-rr" name="fixed_rr" type="number" min="0.01" step="0.01" placeholder="盈亏比(默认1.5)" value="1.5" title="止盈距离=止损距离×盈亏比">
-                <input id="order-tp" name="tgt" step="any" placeholder="止盈价格" style="display:none">
-                <input id="order-sl-pct" name="sl_pct" type="number" min="0.01" step="0.01" placeholder="止损%" style="display:none">
-                <input id="order-tp-pct" name="tp_pct" type="number" min="0.01" step="0.01" placeholder="止盈%" style="display:none">
-                <button type="submit">{{ open_position_button_label }}</button>
-            </form>
-            {% include 'order_plan_preview_bar.html' %}
+            {% include 'order_monitor_open_form.html' %}
        </div>
        <div class="card">
            <h2 style="margin-bottom:8px">实时持仓</h2>
@@ -7,8 +7,8 @@
    <script src="/static/autofill_guard.js?v=1"></script>
    <link rel="stylesheet" href="/static/instance_theme_early.css?v=4">
    <link rel="stylesheet" href="/static/account_risk_badge.css?v=4">
-    <link rel="stylesheet" href="/static/instance_page.css?v=11">
-    <link rel="stylesheet" href="/static/instance_theme.css?v=108">
+    <link rel="stylesheet" href="/static/instance_page.css?v=12">
+    <link rel="stylesheet" href="/static/instance_theme.css?v=109">
    <script src="/static/account_risk_badge.js?v=4"></script>
    <meta name="theme-color" content="#0b0d14">
    <title>{{ pwa_app_name }}</title>
@@ -17,8 +17,8 @@
    <link rel="apple-touch-icon" href="/static/icons/apple-touch-icon.png">
    <link rel="manifest" href="/static/icons/manifest.webmanifest">
    <title>{{ pwa_app_name }}</title>
-    <link rel="stylesheet" href="/static/instance_page.css?v=11">
-    <link rel="stylesheet" href="/static/instance_theme.css?v=105">
+    <link rel="stylesheet" href="/static/instance_page.css?v=12">
+    <link rel="stylesheet" href="/static/instance_theme.css?v=109">

 </head>
 <body
@@ -174,50 +174,7 @@
                {% endif %}
            </div>
            {% include order_rule_tips_tpl %}
-            <form id="add-order-form" action="/add_order" method="post" class="form-row" data-risk-percent="{{ risk_percent }}">
-                {% from 'trade_policy_fields.html' import trade_policy_symbol, trade_policy_direction with context %}
-                {{ trade_policy_symbol('symbol', 'order-symbol') }}
-                {{ trade_policy_direction('direction', 'order-direction') }}
-                <select id="sltp-mode" name="sltp_mode">
-                    <option value="fixed_rr" selected>止盈止损:固定盈亏比</option>
-                    <option value="price">止盈止损:价格模式</option>
-                    <option value="pct">止盈止损:百分比模式</option>
-                </select>
-                {% from 'order_entry_model_fields.html' import order_entry_type_fields with context %}
-                {{ order_entry_type_fields() }}
-                {% from 'order_leverage_fields.html' import order_leverage_fields with context %}
-                {{ order_leverage_fields() }}
-                {% if not intraday_discipline %}
-                <label style="display:flex;align-items:center;gap:4px;font-size:.82rem;color:#cfd3ef">
-                    <input type="checkbox" name="breakeven_enabled" value="1" checked> 启用移动保本(关闭则仅保留初始止损与交易所挂单)
-                </label>
-                <span id="order-time-close-wrap" class="order-time-close-wrap" style="display:inline-flex;align-items:center;gap:4px;font-size:.82rem;color:#cfd3ef">
-                    <label style="display:inline-flex;align-items:center;gap:4px;margin:0;cursor:pointer">
-                        <input type="checkbox" name="time_close_enabled" value="1" id="order-time-close-cb"> 时间平仓
-                    </label>
-                    <select name="time_close_hours" id="order-time-close-hours" title="持仓满该时长后自动平仓">
-                        <option value="1">1h</option>
-                        <option value="2">2h</option>
-                        <option value="4" selected>4h</option>
-                    </select>
-                </span>
-                {% else %}
-                <input type="hidden" name="breakeven_enabled" value="0">
-                {% endif %}
-                <label style="display:flex;align-items:center;gap:4px;font-size:.82rem;color:#cfd3ef">
-                    <input type="checkbox" name="order_chart" value="true"> 开仓后生成多周期K线图(各周期100根,含开平仓标记)
-                </label>
-                {% from 'symbol_live_price_snippet.html' import symbol_live_price_hint %}
-                {{ symbol_live_price_hint('order-symbol-live-price', 'order-symbol', 'order-direction') }}
-                <span class="symbol-live-price-note">下单成交价以交易所成交回报为准</span>
-                <input id="order-sl" name="sl" step="any" placeholder="止损价格" required>
-                <input id="order-fixed-rr" name="fixed_rr" type="number" min="0.01" step="0.01" placeholder="盈亏比(默认1.5)" value="1.5" title="止盈距离=止损距离×盈亏比">
-                <input id="order-tp" name="tgt" step="any" placeholder="止盈价格" style="display:none">
-                <input id="order-sl-pct" name="sl_pct" type="number" min="0.01" step="0.01" placeholder="止损%" style="display:none">
-                <input id="order-tp-pct" name="tp_pct" type="number" min="0.01" step="0.01" placeholder="止盈%" style="display:none">
-                <button type="submit">{{ open_position_button_label }}</button>
-            </form>
-            {% include 'order_plan_preview_bar.html' %}
+            {% include 'order_monitor_open_form.html' %}
        </div>
        <div class="card">
            <h2 style="margin-bottom:8px">实时持仓</h2>
@@ -1791,6 +1748,12 @@ if(fullMarginEl){
 }

 const sltpModeEl = document.getElementById("sltp-mode");
+function setOmFieldVisible(inputEl, show){
+    if(!inputEl) return;
+    inputEl.style.display = show ? "" : "none";
+    const wrap = inputEl.closest(".om-field");
+    if(wrap) wrap.style.display = show ? "" : "none";
+}
 function toggleSltpMode(){
    const mode = sltpModeEl ? sltpModeEl.value : "fixed_rr";
    const slEl = document.getElementById("order-sl");
@@ -1801,14 +1764,14 @@ function toggleSltpMode(){
    if(!slEl || !tpEl || !slPctEl || !tpPctEl){ return; }
    const pct = mode === "pct";
    const fixed = mode === "fixed_rr";
-    slEl.style.display = pct ? "none" : "";
-    tpEl.style.display = (pct || fixed) ? "none" : "";
-    if(fixedRrEl) fixedRrEl.style.display = fixed ? "" : "none";
+    setOmFieldVisible(slEl, !pct);
+    setOmFieldVisible(tpEl, !(pct || fixed));
+    setOmFieldVisible(fixedRrEl, fixed);
    slEl.required = !pct;
    tpEl.required = !pct && !fixed;
    if(fixedRrEl) fixedRrEl.required = fixed;
-    slPctEl.style.display = pct ? "" : "none";
-    tpPctEl.style.display = pct ? "" : "none";
+    setOmFieldVisible(slPctEl, pct);
+    setOmFieldVisible(tpPctEl, pct);
    slPctEl.required = pct;
    tpPctEl.required = pct;
    refreshOrderTpPreview();
@@ -0,0 +1,76 @@
+{# 实盘下单监控 · 开仓表单(实例页与中控嵌入共用) #}
+<form id="add-order-form" action="/add_order" method="post" class="order-monitor-form" data-risk-percent="{{ risk_percent }}">
+    <div class="om-row om-row-policy">
+        {% from 'trade_policy_fields.html' import trade_policy_symbol, trade_policy_direction with context %}
+        {{ trade_policy_symbol('symbol', 'order-symbol') }}
+        {{ trade_policy_direction('direction', 'order-direction') }}
+        <select id="sltp-mode" name="sltp_mode" title="止盈止损模式">
+            <option value="fixed_rr" selected>止盈止损:固定盈亏比</option>
+            <option value="price">止盈止损:价格模式</option>
+            <option value="pct">止盈止损:百分比模式</option>
+        </select>
+        {% from 'order_entry_model_fields.html' import order_entry_type_fields with context %}
+        {{ order_entry_type_fields() }}
+        {% from 'order_leverage_fields.html' import order_leverage_fields with context %}
+        {{ order_leverage_fields() }}
+    </div>
+
+    <div class="om-row om-row-levels">
+        <label class="om-field" id="om-field-sl">
+            <span class="om-field-lab">止损价格</span>
+            <input id="order-sl" name="sl" step="any" placeholder="必填" required>
+        </label>
+        <label class="om-field" id="om-field-rr">
+            <span class="om-field-lab">盈亏比</span>
+            <input id="order-fixed-rr" name="fixed_rr" type="number" min="0.01" step="0.01" placeholder="默认1.5" value="1.5" title="止盈距离=止损距离×盈亏比">
+        </label>
+        <label class="om-field" id="om-field-tp" style="display:none">
+            <span class="om-field-lab">止盈价格</span>
+            <input id="order-tp" name="tgt" step="any" placeholder="止盈价格">
+        </label>
+        <label class="om-field" id="om-field-sl-pct" style="display:none">
+            <span class="om-field-lab">止损%</span>
+            <input id="order-sl-pct" name="sl_pct" type="number" min="0.01" step="0.01" placeholder="止损%">
+        </label>
+        <label class="om-field" id="om-field-tp-pct" style="display:none">
+            <span class="om-field-lab">止盈%</span>
+            <input id="order-tp-pct" name="tp_pct" type="number" min="0.01" step="0.01" placeholder="止盈%">
+        </label>
+        <div class="om-live-meta">
+            {% from 'symbol_live_price_snippet.html' import symbol_live_price_hint %}
+            {{ symbol_live_price_hint('order-symbol-live-price', 'order-symbol', 'order-direction') }}
+            <span class="symbol-live-price-note">成交价以交易所回报为准</span>
+        </div>
+    </div>
+
+    <div class="om-row om-row-opts">
+        {% if not intraday_discipline %}
+        <label class="om-check">
+            <input type="checkbox" name="breakeven_enabled" value="1" checked>
+            <span>移动保本</span>
+        </label>
+        <span id="order-time-close-wrap" class="order-time-close-wrap om-time-close">
+            <label class="om-check" style="margin:0">
+                <input type="checkbox" name="time_close_enabled" value="1" id="order-time-close-cb">
+                <span>时间平仓</span>
+            </label>
+            <select name="time_close_hours" id="order-time-close-hours" title="持仓满该时长后自动平仓">
+                <option value="1">1h</option>
+                <option value="2">2h</option>
+                <option value="4" selected>4h</option>
+            </select>
+        </span>
+        {% else %}
+        <input type="hidden" name="breakeven_enabled" value="0">
+        {% endif %}
+        <label class="om-check" title="开仓后生成多周期K线图(各周期100根,含开平仓标记)">
+            <input type="checkbox" name="order_chart" value="true">
+            <span>开仓后生成多周期K线</span>
+        </label>
+    </div>
+
+    <div class="om-row om-row-action">
+        <button type="submit" class="om-submit">{{ open_position_button_label }}</button>
+    </div>
+</form>
+{% include 'order_plan_preview_bar.html' %}
@@ -572,6 +572,35 @@
    }
  }

+  function renderSidewaysCase(sw) {
+    sw = sw || {};
+    return (
+      '<section class="calc-po-case">' +
+      "<h4>情景 C · 横盘(最大亏损)</h4>" +
+      '<div class="calc-summary">' +
+      "<div><span>永续盈亏</span><strong>" +
+      fmtU(sw.perp_pnl_u != null ? sw.perp_pnl_u : 0) +
+      "</strong></div>" +
+      "<div><span>权利金(全亏)</span><strong>" +
+      fmt(sw.premium_u, 2) +
+      "U</strong></div>" +
+      "<div><span>永续开平手续费</span><strong>" +
+      fmt(sw.fee_u, 2) +
+      "U</strong></div>" +
+      "<div><span>最大亏损</span><strong class=\"" +
+      pnlClass(sw.net_u) +
+      '">' +
+      fmt(sw.max_loss_u, 2) +
+      "U</strong></div>" +
+      "<div><span>组合净利</span><strong class=\"" +
+      pnlClass(sw.net_u) +
+      '">' +
+      fmtU(sw.net_u) +
+      "</strong></div>" +
+      "</div></section>"
+    );
+  }
+
  function renderPerpOptionsResult(data) {
    const box = $("calc-po-result");
    if (!box) return;
@@ -614,6 +643,11 @@
      "<div><span>永续保证金</span><strong>" +
      fmt(data.perp_margin_u, 2) +
      "U</strong></div>" +
+      "<div><span>横盘最大亏损</span><strong class=\"" +
+      pnlClass((data.case_sideways || {}).net_u) +
+      '">' +
+      fmt((data.case_sideways || {}).max_loss_u, 2) +
+      "U</strong></div>" +
      "<div><span>开仓参考</span><strong>" +
      esc(capitalHint) +
      "</strong></div>" +
@@ -663,7 +697,9 @@
      '">' +
      fmtU(b.portfolio_net_u) +
      "</strong></div>" +
-      "</div></section></div>";
+      "</div></section>" +
+      renderSidewaysCase(data.case_sideways) +
+      "</div>";
  }

  function renderPerpOptionsPointsResult(data) {
@@ -743,6 +779,11 @@
      "<div><span>永续保证金</span><strong>" +
      fmt(data.perp_margin_u, 2) +
      "U</strong></div>" +
+      "<div><span>横盘最大亏损</span><strong class=\"" +
+      pnlClass((data.case_sideways || {}).net_u) +
+      '">' +
+      fmt((data.case_sideways || {}).max_loss_u, 2) +
+      "U</strong></div>" +
      "<div><span>开仓参考</span><strong>" +
      esc(capitalHint) +
      "</strong></div>" +
@@ -774,6 +815,7 @@
      "</strong></div>" +
      "</div></section>" +
      caseB +
+      renderSidewaysCase(data.case_sideways) +
      "</div>";
  }

@@ -966,7 +966,7 @@
          <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>
+              <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.横盘最大亏损 = 权利金全亏 + 永续开平同价手续费.</p>
              <form id="calc-po-form" class="calc-form">
                <div class="calc-form-grid">
                  <label class="calc-field">
@@ -1751,7 +1751,7 @@
  <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=20260728-po-2dp"></script>
+  <script src="/assets/calculator.js?v=20260729-po-sideways"></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>
@@ -38,6 +38,11 @@ class HubPerpOptionsCalcTests(unittest.TestCase):
        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"])
+        sw = data["case_sideways"]
+        self.assertAlmostEqual(sw["premium_u"], data["premium_total_u"], places=6)
+        self.assertAlmostEqual(sw["fee_u"], 1.8, places=6)
+        self.assertAlmostEqual(sw["max_loss_u"], data["premium_total_u"] + 1.8, places=6)
+        self.assertAlmostEqual(sw["net_u"], -sw["max_loss_u"], places=6)

    def test_pct_mode(self):
        data, err = calc_perp_options_hedge(
@@ -113,6 +118,12 @@ class HubPerpOptionsCalcTests(unittest.TestCase):
        # 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)
+        # 横盘:权利金36 + 同价开平费 2*1800*0.0005=1.8 → 37.8
+        sw = data["case_sideways"]
+        self.assertAlmostEqual(sw["premium_u"], 36.0, places=6)
+        self.assertAlmostEqual(sw["fee_u"], 1.8, places=6)
+        self.assertAlmostEqual(sw["max_loss_u"], 37.8, places=6)
+        self.assertAlmostEqual(sw["net_u"], -37.8, places=6)

    def test_points_ratio_1_to_1_no_portfolio(self):
        data, err = calc_perp_options(