diff --git a/packages/serum/src/queue.test.ts b/packages/serum/src/queue.test.ts
new file mode 100644
index 00000000..87976c69
--- /dev/null
+++ b/packages/serum/src/queue.test.ts
@@ -0,0 +1,81 @@
+import BN from 'bn.js';
+import {
+  decodeEventQueue,
+  decodeEventsSince,
+  EVENT_QUEUE_LAYOUT,
+} from './queue';
+
+// convenience definitions for readability
+const QueueHeader = EVENT_QUEUE_LAYOUT.HEADER;
+const Event = EVENT_QUEUE_LAYOUT.NODE;
+const seqNum = (e) => e.seqNum;
+const orderId = (e) => e.orderId.toNumber();
+
+function queueWith(head, count, seqNum) {
+  const size = 4;
+  const b = Buffer.alloc(QueueHeader.span + size * Event.span);
+  QueueHeader.encode(
+    {
+      accountFlags: { initialized: true, eventQueue: true },
+      head,
+      count,
+      seqNum,
+    },
+    b,
+    0,
+  );
+
+  // use order id to encode the offset from the beginning for easy tests
+  for (let i = 0; i < size; i++) {
+    Event.encode({ orderId: new BN(i) }, b, QueueHeader.span + i * Event.span);
+  }
+
+  return b;
+}
+
+test('should decode empty queue', () => {
+  const q = queueWith(0, 0, 0);
+  // [0, 1, 2, 3]
+  //  ^
+  //  0
+
+  expect(decodeEventQueue(q)).toEqual([]);
+  expect(decodeEventQueue(q, 4).map(orderId)).toEqual([3, 2, 1, 0]);
+  expect(decodeEventQueue(q, 4).map(seqNum)).toEqual([-1, -2, -3, -4]);
+  expect(decodeEventsSince(q, 0)).toEqual([]);
+  expect(decodeEventsSince(q, 3)).toEqual([]);
+});
+
+test('should decode empty queue from mid', () => {
+  const q = queueWith(2, 0, 2);
+  // [0, 1, 2, 3]
+  //        ^
+  //        2
+
+  expect(decodeEventQueue(q).map(orderId)).toEqual([]);
+  expect(decodeEventQueue(q).map(seqNum)).toEqual([]);
+  expect(decodeEventQueue(q, 4).map(orderId)).toEqual([1, 0, 3, 2]);
+  expect(decodeEventQueue(q, 4).map(seqNum)).toEqual([1, 0, -1, -2]);
+  expect(decodeEventsSince(q, 0).map(orderId)).toEqual([0, 1]);
+  expect(decodeEventsSince(q, 0).map(seqNum)).toEqual([0, 1]);
+});
+
+test('should decode full event queue after roll-over', () => {
+  const q = queueWith(2, 4, 6);
+  // [0, 1, 2, 3]
+  //        ^
+  //        6
+
+  expect(decodeEventQueue(q).map(orderId)).toEqual([2, 3, 0, 1]);
+  expect(decodeEventQueue(q).map(seqNum)).toEqual([2, 3, 4, 5]);
+  expect(decodeEventQueue(q, 4).map(orderId)).toEqual([2, 3, 0, 1].reverse());
+  expect(decodeEventQueue(q, 4).map(seqNum)).toEqual([2, 3, 4, 5].reverse());
+  expect(decodeEventsSince(q, 0).map(seqNum)).toEqual([2, 3, 4, 5]);
+  expect(decodeEventsSince(q, 1).map(seqNum)).toEqual([2, 3, 4, 5]);
+  expect(decodeEventsSince(q, 2).map(seqNum)).toEqual([2, 3, 4, 5]);
+  expect(decodeEventsSince(q, 3).map(seqNum)).toEqual([3, 4, 5]);
+  expect(decodeEventsSince(q, 4).map(seqNum)).toEqual([4, 5]);
+  expect(decodeEventsSince(q, 5).map(seqNum)).toEqual([5]);
+  expect(decodeEventsSince(q, 6).map(seqNum)).toEqual([]);
+  expect(decodeEventsSince(q, 7).map(seqNum)).toEqual([]);
+});
diff --git a/packages/serum/src/queue.ts b/packages/serum/src/queue.ts
index 1482789b..7b36ddd2 100644
--- a/packages/serum/src/queue.ts
+++ b/packages/serum/src/queue.ts
@@ -107,12 +107,16 @@ function decodeQueue(
     for (let i = 0; i < Math.min(history, allocLen); ++i) {
       const nodeIndex =
         (header.head + header.count + allocLen - 1 - i) % allocLen;
-      nodes.push(decodeQueueItem(headerLayout, nodeLayout, buffer, nodeIndex));
+      const item = decodeQueueItem(headerLayout, nodeLayout, buffer, nodeIndex);
+      item.seqNum = header.seqNum - 1 - i;
+      nodes.push(item);
     }
   } else {
     for (let i = 0; i < header.count; ++i) {
       const nodeIndex = (header.head + i) % allocLen;
-      nodes.push(decodeQueueItem(headerLayout, nodeLayout, buffer, nodeIndex));
+      const item = decodeQueueItem(headerLayout, nodeLayout, buffer, nodeIndex);
+      item.seqNum = header.seqNum - header.count + i;
+      nodes.push(item);
     }
   }
   return { header, nodes };
@@ -120,29 +124,40 @@ function decodeQueue(
 
 export function decodeEventsSince(buffer: Buffer, lastSeqNum: number): Event[] {
   const header = EVENT_QUEUE_HEADER.decode(buffer);
-  const allocLen = Math.floor(
-    (buffer.length - EVENT_QUEUE_HEADER.span) / EVENT.span,
-  );
-
-  // calculate number of missed events
-  // account for u32 & ringbuffer overflows
-  const modulo32Uint = 0x100000000;
-  let missedEvents = (header.seqNum - lastSeqNum + modulo32Uint) % modulo32Uint;
-  if (missedEvents > allocLen) {
-    missedEvents = allocLen - 1;
-  }
-  const startSeq = (header.seqNum - missedEvents + modulo32Uint) % modulo32Uint;
-
-  // define boundary indexes in ring buffer [start;end)
-  const endIndex = (header.head + header.count) % allocLen;
-  const startIndex = (endIndex - missedEvents + allocLen) % allocLen;
-
   const results: Event[] = [];
-  for (let i = 0; i < missedEvents; ++i) {
-    const nodeIndex = (startIndex + i) % allocLen;
-    const event = decodeQueueItem(EVENT_QUEUE_HEADER, EVENT, buffer, nodeIndex);
-    event.seqNum = (startSeq + i) % modulo32Uint;
-    results.push(event);
+  if (lastSeqNum < header.seqNum) {
+    const allocLen = Math.floor(
+      (buffer.length - EVENT_QUEUE_HEADER.span) / EVENT.span,
+    );
+    // calculate number of missed events
+    // account for u32 & ringbuffer overflows
+    const modulo32Uint = 0x100000000;
+    let missedEvents =
+      (header.seqNum - lastSeqNum + modulo32Uint) % modulo32Uint;
+
+    // console.log({ allocLen, missedEvents, lastSeqNum, head: header.seqNum });
+    if (missedEvents > allocLen) {
+      missedEvents = allocLen;
+    }
+    const startSeq =
+      (header.seqNum - missedEvents + modulo32Uint) % modulo32Uint;
+
+    // define boundary indexes in ring buffer [start;end)
+    const endIndex = (header.head + header.count) % allocLen;
+    const startIndex = (endIndex - missedEvents + allocLen) % allocLen;
+
+    // console.log({ allocLen, missedEvents, startSeq, endIndex, startIndex });
+    for (let i = 0; i < missedEvents; ++i) {
+      const nodeIndex = (startIndex + i) % allocLen;
+      const event = decodeQueueItem(
+        EVENT_QUEUE_HEADER,
+        EVENT,
+        buffer,
+        nodeIndex,
+      );
+      event.seqNum = (startSeq + i) % modulo32Uint;
+      results.push(event);
+    }
   }
   return results;
 }