Monitor Position Health

When a Multiply position is opened, Kamino’s on-chain program immediately begins tracking and updating position health metrics. These metrics update with every transaction that affects the position and recalculate based on current collateral prices and debt accrual. The protocol stores six core metrics that describe position size, leverage level, borrowing capacity, and liquidation risk.

Position Health Metrics

Metric	Description
Total Deposit	The total USD value of all collateral deposited into the position
Total Borrow	The total USD value of debt owed on the position
Net Value	Equity in the position. Calculated as Total Deposit - Total Borrow. Represents the value that would be received if all debt were repaid and collateral withdrawn
Leverage	Capital amplification multiplier. 1x = no leverage (collateral only), 2x = borrowed amount equals deposit, 3x = borrowed twice the deposit amount
Borrow Limit	Maximum borrowing capacity before approaching liquidation threshold. Total Borrow must remain below this value
Liquidation LTV	The loan-to-value percentage at which the position becomes eligible for liquidation. Varies by asset pair and eMode settings

Leverage amplifies both gains and losses. When Current LTV approaches Liquidation LTV, the position risks partial liquidation. When borrow rates exceed collateral yield, Net APY turns negative and debt grows faster than earnings. Regular monitoring enables integrations to alert users when conditions warrant position adjustment—whether through debt repayment, leverage reduction, or position closure.

Get Position Health Metrics

Import Dependencies

Import the required packages for Solana RPC communication and Kamino SDK operations.

import { createSolanaRpc, address } from '@solana/kit';
import {
  KaminoMarket,
  parseKeypairFile,
  ObligationTypeTag,
  DEFAULT_RECENT_SLOT_DURATION_MS
} from '@kamino-finance/klend-sdk';

Load Market and Initialize RPC

Load the keypair, initialize RPC connection, and load the xStocks market.

const KEYPAIR_FILE = '/path/to/your/keypair.json';

const signer = await parseKeypairFile(KEYPAIR_FILE);

const rpc = createSolanaRpc('https://api.mainnet-beta.solana.com');

const marketPubkey = address('5wJeMrUYECGq41fxRESKALVcHnNX26TAWy4W98yULsua'); // xStocks Market
const market = await KaminoMarket.load(rpc, marketPubkey, DEFAULT_RECENT_SLOT_DURATION_MS);

Fetch Multiply Obligations

Retrieve all multiply obligations for the wallet address using the obligation type filter.

const obligations = await market!.getUserObligationsByTag(
  ObligationTypeTag.Multiply,
  address(signer.address)
);

if (obligations.length === 0) {
  console.log('No multiply obligations found.');
}

getUserObligationsByTag filters obligations by type. For example, use ObligationTypeTag.Multiply to retrieve only multiply positions.

ObligationTypeTag Values:

Type	Value & Description
`ObligationTypeTag.Vanilla`	0: Cross-collateral mode positions
`ObligationTypeTag.Multiply`	1: Leveraged positions created via Multiply
`ObligationTypeTag.Lending`	2: Lending-only positions
`ObligationTypeTag.Leverage`	3: Legacy leverage positions

Read Position Health Metrics

Access the position health statistics from each obligation’s refreshedStats.

obligations.forEach((obligation) => {
  console.log(`\nObligation Address: ${obligation.obligationAddress}`);

  console.log(`Stats:`);
  console.log(`  Total Deposit: $${obligation.refreshedStats.userTotalDeposit.toFixed(2)}`);
  console.log(`  Total Borrow: $${obligation.refreshedStats.userTotalBorrow.toFixed(2)}`);
  console.log(`  Net Value: $${obligation.refreshedStats.userTotalDeposit.minus(obligation.refreshedStats.userTotalBorrow).toFixed(2)}`);
  console.log(`  Leverage: ${obligation.refreshedStats.leverage.toFixed(2)}x`);
  console.log(`  Borrow Limit: $${obligation.refreshedStats.borrowLimit.toFixed(2)}`);
  console.log(`  Liquidation LTV: ${obligation.refreshedStats.liquidationLtv.toFixed(2)}%`);
});

You now have access to all position health metrics including leverage, borrowing capacity, and liquidation thresholds.

const walletAddress = 'your-wallet-address-here';
const marketAddress = '5wJeMrUYECGq41fxRESKALVcHnNX26TAWy4W98yULsua'; // xStocks Market

const response = await fetch(
  `https://api.kamino.finance/kamino-market/${marketAddress}/users/${walletAddress}/obligations`
);

const data = await response.json();

if (data.length === 0) {
  console.log('No obligations found.');
}

data.forEach((obligation) => {
  console.log(`\nObligation Address: ${obligation.obligationAddress}`);
  console.log(`Type: ${obligation.humanTag}`);

  const stats = obligation.refreshedStats;
  console.log(`Stats:`);
  console.log(`  Total Deposit: $${parseFloat(stats.userTotalDeposit).toFixed(2)}`);
  console.log(`  Total Borrow: $${parseFloat(stats.userTotalBorrow).toFixed(2)}`);
  console.log(`  Net Value: $${(parseFloat(stats.userTotalDeposit) - parseFloat(stats.userTotalBorrow)).toFixed(2)}`);
  console.log(`  Leverage: ${parseFloat(stats.leverage).toFixed(2)}x`);
  console.log(`  Borrow Limit: $${parseFloat(stats.borrowLimit).toFixed(2)}`);
  console.log(`  Liquidation LTV: ${(parseFloat(stats.liquidationLtv) * 100).toFixed(2)}%`);
});

Liquidation LTV by Asset Pair

Mode	Asset Pair	Liquidation LTV	Max Leverage
Standard	SOL / USDC	75%	4x
Standard	TSLAx / USDC	65%	~2.9x
eMode (Main)	mSOL, bSOL, JupSOL / SOL	~87%	~7.7x
eMode (Jito)	JitoSOL / SOL	90%	10x
No eMode	JLP / USDC	67%	~3.2x

For detailed leverage calculations and eMode mechanics, see LTV and Leverage Concepts.

​Position Health Metrics

​Get Position Health Metrics

​Import Dependencies

​Load Market and Initialize RPC

​Fetch Multiply Obligations

​Read Position Health Metrics

​Liquidation LTV by Asset Pair

Position Health Metrics

Get Position Health Metrics

Import Dependencies

Load Market and Initialize RPC

Fetch Multiply Obligations

Read Position Health Metrics

Liquidation LTV by Asset Pair