Hi,
I think the example for the cost of liquidation is not correct. This is from reading P2.T8 page 4 and 5. If we use the formula of liquidity price as s*a/2 then the cost of liquidity should be as follows:
position 1 : (100.50-100)/100.25 * (100 mil /2) * 100.25 = 24999994.125
position 2 ...
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