> ## Documentation Index
> Fetch the complete documentation index at: https://docs.jup.ag/llms.txt
> Use this file to discover all available pages before exploring further.
# Using Borrow
> Navigate the Borrow page, create and manage positions, and review your transaction history on Jupiter Lend.
This guide walks through the Borrow product on Jupiter Lend: how to read the interface, create a position, manage it, and review your activity. For a breakdown of how Borrow works under the hood, its fees, and its risks, see the [Borrow reference page](/user-docs/earn/lend/borrow).
***
## The Borrow page
Open the Borrow tab at [jup.ag/lend](https://jup.ag/lend). The page is organised into several blocks.
### Top stats
Two figures are displayed at the top right of the page header:
| Stat | Meaning |
| ------------ | ------------------------------------------------------------------------ |
| Total Supply | Aggregate value supplied across Borrow-related vaults, expressed in USD. |
| Active Loans | Total value currently borrowed across all positions, expressed in USD. |
A **How it works** link sits next to the page subtitle. It opens a short in-app explainer. For a deeper breakdown, use the [Borrow reference page](/user-docs/earn/lend/borrow).
### Top Vaults
A carousel of featured vaults is displayed below the header. Each card shows the collateral/debt pair, the Total Supplied in that vault, and a **Create** shortcut that opens the vault page directly. These vaults are highlighted to give quick access to popular pairs.
### Your portfolio
Two boxes summarise your activity across all Borrow vaults:
| Stat | Meaning |
| ----------------- | ----------------------------------------------------------------------------------------- |
| Your Total Supply | Combined USD value of the collateral you have deposited across all your Borrow positions. |
| Your Total Borrow | Combined USD value of the assets you have borrowed across all your positions. |
### Your Positions
A list of your open positions across all vaults is displayed below the portfolio stats. Each row links to the corresponding vault page where you can manage the position. Use the grid/list toggle at the top right to switch views.
If no positions are open, the UI shows "No positions found".
### Vault Select
Two dropdowns filter the vault list by asset:
* **Collateral**: filter by the asset you want to supply as collateral.
* **Debt**: filter by the asset you want to borrow.
### Vaults list
Below the filters, all available vaults are listed. At the top of the list, a category bar lets you narrow down by vault type:
| Category | Content |
| ------------- | -------------------------------------------------------------------------------------------------------------------------------------------- |
| All | Every available vault. |
| SOL | Vaults using SOL or SOL-based assets as collateral. |
| BTC | Vaults using Bitcoin-based assets as collateral. |
| Incentivised | Vaults that include additional rewards on top of the standard Annual Percentage Yield (APY). |
| Pegged | Vaults where collateral and debt are correlated assets (for example stablecoin/stablecoin or LST/SOL). |
| Native Staked | Vaults that accept natively staked SOL as collateral. See the [Native Staked Vaults page](/user-docs/earn/lend/borrow/native-staked-vaults). |
| xStock | Vaults that use tokenized equities as collateral. |
Two additional controls are available next to the category bar:
* **By Supply**: toggles the display grouping (for example showing vaults aggregated by collateral asset).
* **Sort**: opens sort options for the list.
Each vault is defined by a pair: a collateral asset and a debt asset. Vaults can be expanded to show the list of available collateral/debt combinations. A single collateral asset (for example JLP) can feed multiple vaults with different debt assets (USDC, USDT, SOL, and so on). Each combination has its own row with these columns:
| Column | Meaning |
| -------------- | ----------------------------------------------------------------------------------------------------------------------------------------------- |
| Supply | The collateral asset accepted by the vault, along with the total amount currently supplied. |
| Borrow | The debt asset you can borrow, along with the total amount currently borrowed. |
| LTV | Loan-to-Value ratio: the maximum percentage of your collateral value that you can borrow. |
| Liq. Threshold | Liquidation Threshold: the debt-to-collateral ratio at which the position becomes eligible for partial liquidation. Always higher than the LTV. |
| Supply APY | Current Annual Percentage Yield (APY) earned by suppliers of the collateral side. |
| Borrow APY | Current APY paid by borrowers of the debt side. |
Use the toggle at the top right of the list to switch between grid view (cards) and list view (table).
***
## Creating a position
Use the **Collateral** and **Debt** dropdowns, the category bar, or the vault list to find the pair you want. If you know the pair, you can also click the **Create** shortcut directly from the Top Vaults carousel.
Click on the chosen vault. You land on the vault page, with the **Deposit** modal open by default.
Connect your wallet if it is not already connected. Enter the amount of collateral you want to deposit, or use **HALF** or **MAX** to auto-fill.
The modal displays your wallet balance, the amount to deposit, a **Liquidation Threshold** progress bar, and a status indicator (**Safe**, **Risky**, **Very Risky**).
Click **Deposit** and approve the transaction in your wallet. This first transaction creates the position and deposits your collateral.
Once the deposit is confirmed, you return to the vault page. Click **Borrow** on the Borrowed Debt card. The Borrow modal opens.
Enter the amount you want to borrow. A status bar displays the resulting Position Health (the status showing how close the position is to liquidation) as a percentage of the Liquidation Threshold, along with a Safe / Risky / Very Risky label. Borrowing closer to the maximum LTV leaves less room before liquidation.
Click **Borrow** and approve the transaction. The borrowed assets are sent directly to your wallet.
After the borrow is confirmed, the vault page shows your full position: supplied collateral, borrowed debt, Position Health, Net APY, estimated liquidation price, and more. You can now manage the position from this page.
### Deposit & Borrow in a single transaction
If you want to deposit collateral and borrow in one step, use the **Deposit & Borrow** action from the Actions tab instead of going through two separate transactions. See [Managing your position](#managing-your-position) below.
### Position NFT
When you create a position, Jupiter Lend automatically mints a **Position NFT** (Non-Fungible Token) to your wallet. This NFT represents ownership of the vault position on-chain. The interface identifies your position through this NFT.
Do not delete or transfer the Position NFT while the position is open. The protocol uses it to identify your position. If you remove it from your wallet, you lose access to the position through the interface, and managing or closing it becomes significantly harder.
A small amount of SOL is paid as network rent to store the NFT on Solana. This is standard for all NFTs on the network. The NFT typically appears in your wallet under the **Collectibles** tab, labelled with the vault type or ID.
***
## The position page
Once a position is open, the vault page displays all the information needed to manage it.
### Header
The header identifies the vault and shows the main risk parameters:
| Element | Meaning |
| -------------- | ------------------------------------------------------------------------------------- |
| Pair and ID | The collateral/debt pair followed by the vault number (for example `SOL/USDT #1374`). |
| Subtitle | A short description (for example "Supply SOL to Borrow USDT"). |
| LTV | Maximum borrowing ratio for this vault. |
| Liq. Threshold | Debt-to-collateral ratio at which liquidation is triggered. |
| Liq. Penalty | Percentage of the liquidated portion that is charged as a penalty. Varies by vault. |
### Supplied Collateral
This card displays:
* The collateral asset and the amount currently supplied, shown in the native token and in USD.
* The **Supply APY** for this side.
* Two action buttons: **Deposit** (add more collateral) and **Withdraw** (remove collateral, within the limits of your current Position Health).
### Borrowed Debt
This card displays:
* The debt asset and the amount currently borrowed, shown in the native token and in USD.
* The **Borrow APY** for this side.
* Two action buttons: **Borrow** (take more debt) and **Repay** (return part or all of the debt).
### Position summary panel
On the right side, a panel summarises the current state of the position:
| Metric | Meaning |
| ----------------- | -------------------------------------------------------------------------------------------------------------------------------------- |
| Position PNL (7D) | Profit or loss on the position over the last 7 days, in USD and as a percentage. |
| Net APY | Overall annual yield or cost, combining the Supply APY earned on collateral and the Borrow APY paid on debt. |
| Liq. Price/Offset | The price at which the position becomes eligible for liquidation, and the percentage drop from the current price required to reach it. |
| Position Health | Status showing how close your debt-to-collateral ratio is to the Liquidation Threshold. Values: **Safe**, **Risky**, **Very Risky**. |
A progress bar below Position Health shows the current ratio (0%) and the Liquidation Threshold as the upper bound (for example Max: L.T. 85%).
### Tabs
Below the position cards, four tabs give access to more functionality:
| Tab | Purpose |
| ------------ | --------------------------------------------------------------------------------------------- |
| Actions | Combined and leveraged operations (Deposit & Borrow, Repay & Withdraw, Leverage, Deleverage). |
| My Positions | All your positions in this vault. |
| Stats | Historical charts: Supply APY, Borrow APY, Oracle Price. |
| History | All on-chain events for the connected wallet on this vault. |
***
## Managing your position
You can manage a position using simple actions (deposit, withdraw, borrow, repay) or combined actions grouped in the Actions tab.
### Simple actions
On the Supplied Collateral card, click **Deposit**. Enter the amount, confirm. More collateral increases your safety buffer and reduces liquidation risk.
On the Supplied Collateral card, click **Withdraw**. You can only withdraw up to the amount allowed by your current Position Health and the vault's dynamic withdrawal limits. Withdrawing collateral reduces your safety buffer and increases liquidation risk.
On the Borrowed Debt card, click **Borrow**. Enter the amount, confirm. The Borrow modal shows the updated Position Health and the estimated liquidation price.
On the Borrowed Debt card, click **Repay**. You can repay part or all of your debt using the debt asset in your wallet. Repaying reduces your debt and improves your Position Health.
Position Health, Net APY, and the estimated liquidation price update in real time when you modify a position.
### Combined actions (Actions tab)
The **Actions** tab groups operations that combine several steps into a single transaction. This reduces the number of wallet confirmations and limits exposure to intermediate states.
Deposit collateral and borrow debt in a single transaction. Useful when opening a position directly at the desired size, or when scaling up an existing position.
The modal shows the projected final collateral and debt, along with the resulting Position Health.
Repay part of the debt and withdraw part of the collateral in a single transaction. Useful when unwinding a position progressively or exiting entirely.
The modal shows the projected final collateral and debt, along with the resulting Position Health.
Increase exposure to the collateral asset by borrowing, swapping the borrowed token to match the collateral, and redepositing it, all in one transaction.
The modal lets you choose the amount to borrow, set a slippage tolerance (preset values available), and shows the Minimum Swap Return and Price Impact. A flashloan indicator is displayed.
If you want to open a dedicated leveraged position from scratch on a pegged pair, the [Multiply product](/user-docs/earn/lend/multiply) and [Strategies](/user-docs/earn/lend/strategies) are built for this use case.
Reduce leverage by using a portion of your deposited collateral to repay part of the debt, in a single transaction. This lowers both your exposure and your liquidation risk, without manually swapping tokens.
The modal shows the slippage selector, Minimum Swap Return, Price Impact, and a flashloan indicator. The **Status** preview shows the resulting Position Health before you confirm.
### How price movements affect your position
Position Health updates continuously based on oracle prices:
* When the collateral value **rises**, Position Health improves. You gain additional borrowing capacity.
* When the collateral value **falls**, Position Health worsens and your borrowing capacity shrinks. If it reaches the Liquidation Threshold, partial liquidation begins.
Adding collateral or repaying part of the debt are the two ways to restore safety after a price drop.
***
## Closing a position
A position is considered closed when:
1. Your entire debt is repaid.
2. All remaining collateral is withdrawn.
You can close a position in two ways:
* **Repay the full debt from your wallet**, then withdraw the collateral. Works if you already hold enough of the debt asset.
* **Use Deleverage repeatedly until the debt reaches zero**, then withdraw the remaining collateral. Useful if you do not want to top up the debt asset from outside.
Once closed, the vault no longer carries any risk.
### Position NFT after closing
When you close a position, the Position NFT stays in your wallet. If you later open a new Borrow position in the same vault pair, the NFT can be reused, so you do not pay the account creation fees again.
***
## The My Positions tab
On each vault page, the **My Positions** tab lists all your positions for that specific vault (there can be several). It is scoped to the current vault, unlike the **Your Positions** section on the main Borrow page which spans all vaults.
Columns displayed:
| Column | Meaning |
| ----------------- | ------------------------------------------------------------------------------------------------------------------------------------------ |
| Vault ID / Nft ID | The vault number followed by the Position NFT identifier. |
| Supply | The collateral amount for this position. |
| Borrow | The debt amount for this position. |
| Net APY | Combined yield or cost for the position. |
| Health Factor | Mathematical ratio where higher means safer. Shown as `∞` when there is no debt (no liquidation risk). |
| Liquidated | Whether the position has been liquidated (Yes / No). |
| Ratio | The current Position Health expressed as a percentage of the Liquidation Threshold. `0%` means no debt, `100%` means liquidation-imminent. |
| Last Updated | Time since the last on-chain event on this position. |
Health Factor and Ratio describe the same underlying safety level in different mathematical forms. Health Factor approaches `∞` as the position becomes safer; Ratio approaches `0%`. Use whichever you find most intuitive.
***
## The Stats tab
The Stats tab displays historical charts for the vault:
* **Supply APY**: historical evolution of the rate earned on the supply side.
* **Borrow APY**: historical evolution of the rate paid on the debt side.
* **Oracle Price**: historical price of the collateral expressed in the debt asset (for example SOL priced in USDT).
A time selector (for example 30 days) adjusts the range displayed on each chart. These charts help you assess how rates and prices have moved before making a decision.
***
## Transaction history
The **History** tab shows all on-chain activity for the connected wallet on the current vault.
### Filters
The top bar offers several filters:
* **Source**: All, Deposit, Borrow, Payback, Withdraw, Multiply, Unwind.
* **By date**: filter by time range.
* **All Status**: filter by transaction status (success, pending, failed).
Each row displays the source, the collateral delta, the debt delta, the truncated transaction ID (clickable, opens the transaction on a Solana explorer), and the status.
Use the **Download CSV** button to export the filtered history as a CSV file.
### Action labels vs filter labels
Some operations appear in the history under a different label than the button you clicked. The table below maps them:
| Button label (action) | History filter label |
| --------------------- | -------------------- |
| Deposit | Deposit |
| Borrow | Borrow |
| Repay | Payback |
| Withdraw | Withdraw |
| Leverage | Multiply |
| Deleverage | Unwind |
### Event types
You supplied collateral to the vault.
You took out (or increased) debt from the vault.
You repaid part or all of your debt.
You removed part or all of your collateral from the vault.
A leverage-increasing event on the position. This typically accompanies a **Leverage** action from the Actions tab.
A leverage-decreasing event on the position. This typically accompanies a **Deleverage** action from the Actions tab.
***
## Common mistakes to avoid
**Losing or moving the Position NFT while the position is open.** The interface uses the NFT to identify your position. If it is removed from your wallet, you lose access to manage or close the position through the app.
A few practical points:
* **Don't borrow at the maximum LTV.** Borrowing at or near the LTV leaves almost no margin. A small price move can push the position into liquidation territory. Keep a buffer.
* **Keep a SOL buffer for fees.** Every action (deposit, borrow, repay, withdraw, leverage, deleverage) requires a small amount of SOL to pay network fees. Running out will block further actions.
* **Monitor Position Health during volatility.** APYs and collateral prices move continuously. A position that looks safe today can become Risky after a sharp price move. Check in regularly.
* **Don't assume Borrow APY is fixed.** Borrow rates adjust based on utilisation. A rising rate increases your debt faster than you may expect.
* **Don't burn the Position NFT.** Even after closing the position, the NFT is reusable for future positions in the same vault pair. Burning it is unnecessary.
* **Verify URLs before connecting your wallet.** Only use official Jupiter interfaces. Phishing sites regularly imitate DeFi protocol frontends.
***
Accessing Liquidity with Jupiter Borrow — a step-by-step lesson on how Borrow works and how to use it.