How Jupiter Spot finds your swap price

In decentralized finance (DeFi), a swap is the instant exchange of one digital asset for another. In traditional finance, this is how foreign exchange (FX) or spot trading works: you trade one currency for another at the current market rate. On Jupiter, the same applies to tokens, for example USDC for SOL, and you swap them in Spot, on jup.ag.

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Hello, Ultra

By default, Spot executes your swap in Ultra Mode (Jupiter Ultra), shown as Ultra V3 in the Swap Settings dialog. Ultra optimizes the route of every swap, balancing price, speed and success rate, and sets the trade parameters for you.

• Price discovery: Ultra’s Juno liquidity engine aggregates the leading Solana AMMs, third-party liquidity sources such as DFlow, Hashflow and OKX, and Jupiter’s own routers, Metis and JupiterZ. It can split your trade across several venues when that gives a better result.
• Real-Time Slippage Estimation (RTSE): sets your slippage tolerance for each swap, the lowest one that still lets the trade land. It looks at the token, its recent volatility, the depth of liquidity and network conditions, to balance trade success and price protection.
• Gasless: when your wallet cannot pay the network fee, Jupiter can pay it for you and deduct its value from your swap. There is no separate gasless fee.

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What qualifies for gasless?

Gasless is a last resort, designed for onboarding: for example, a new wallet that holds USDC but no SOL yet. It activates automatically when all of these are true:

• Your wallet holds less than 0.01 SOL.
• The trade is worth at least about $10. The minimum moves with network fees.
• The token you sell is verified, as major tokens such as USDC are.

Jupiter then pays the transaction costs (signature fees, priority fees and rent) and deducts their value from your swap. That amount is fixed, so it weighs more on small trades, and gasless only applies when it stays within 10% of the trade. When you can, keep some SOL to pay the network fee yourself: it generally gives better execution. Swaps routed through JupiterZ, Jupiter’s request-for-quote (RFQ) engine, are gasless anyway: the market maker pays the network and priority fees, though not the rent for a new token account. You know a swap is gasless when the Network Fee row of the quote details reads Gasless.

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Key concepts for swaps

• Liquidity: the depth of the market. Deep liquidity lets you trade larger amounts without moving the price much; the price move your own trade causes is its price impact. Jupiter routes across many liquidity sources and splits a trade when needed to reach deeper liquidity.
• Slippage: the difference between your quoted price and the final execution price. The price can move between the quote and the execution, especially in volatile markets. Your slippage tolerance is the most you accept: if the price moves further, the swap fails instead of executing at a worse price. In Ultra Mode, RTSE sets this tolerance for you, and values such as 0.73% are normal for non-stable pairs. To set it yourself, use Manual Mode.

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Let’s swap on Jupiter

In the Jupiter Mobile app, swaps are in the Trade tab → Swap → Market. Swaps placed in the app follow its own fee schedule, not the Ultra fees on jup.ag.

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Post-trade analysis and history

Transparency is a core tenet of cryptocurrency: every swap is an onchain transaction you can look up later.

• On jup.ag, your swaps are in the Portfolio drawer (top right), under the Activity tab. V2 limit and DCA orders keep their history in the same drawer; legacy V1 orders remain viewable on jup.ag/limit and jup.ag/recurring.
• For your profit and loss per token, open Jupiter Portfolio and its Spot tab.
• For a full record, view your wallet on a block explorer such as Solscan.
• In the Jupiter Mobile app, open the Portfolio tab (Account in the Android app) → History.

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