Equivariant K-theory and refined Vafa-Witten invariants

In the forthcoming paper [MT2] the Vafa-Witten theory of complex projective surfaces is refined by lifting it to oriented $\mathbb C^*$-equivariant cohomology theories. Here we study the K-theoretic refinement. It gives rational functions in $t^{1/2}$ invariant under $t^{1/2}\leftrightarrow t^{-1/2}$ which specialise to numerical Vafa-Witten invariants at $t=1$. On the "instanton branch" the invariants give the virtual $\chi_{-t}^{}$-genus refinement of G\"ottsche-Kool. Applying modularity to their calculations gives predictions for the contribution of the "monopole branch". We calculate some cases and find perfect agreement. We also do calculations on K3 surfaces, finding Jacobi forms refining the usual modular forms, proving a conjecture of G\"ottsche-Kool. We determine the K-theoretic virtual classes of degeneracy loci using Eagon-Northcott complexes, and show they calculate refined Vafa-Witten invariants. Using this Laarakker [Laa] proves universality results for the invariants.