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For JLP-related questions (yield, loans, delta-neutral vault), see the JLP FAQ.

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Positions & Collateral

Anyone with a connected wallet, within the position and order caps of each market. See Beta Markets.
No. Beta markets are only available on jup.ag. The Perps tab of the Jupiter Mobile app offers the JLP markets (SOL, ETH, wBTC) only. See Perps on Mobile.
On Beta markets a market order executes against the orderbook within a fixed 1% price limit, shown as Max: 1% in the form; your Perps slippage setting does not apply. If the book cannot fill all of it at that price, the unfilled part is cancelled rather than left waiting, so your position ends up smaller than requested. Check the position size after execution. Closing a whole position at market works the other way: it is all or nothing. See How orders execute.
The trading engine has flagged that market as unhealthy, so the app accepts limit orders only. Market, Quick Close, and Close All are disabled until the market recovers; the form switches to Limit and pre-fills the mark price. A limit close waits for its price and does not protect you from liquidation. See When only limit orders are available.
Proceeds are normally sent to your wallet automatically. Settlement is usually quick, but testers have seen it take several minutes. It needs a USDC token account in your wallet: if the Positions tab shows Restore USDC account, click it and approve the transaction (it needs a little SOL for the account rent). Check the History tab to confirm the close filled, then allow a few minutes before acting again. If the funds still have not arrived, contact support with the close time and the market.
Beta marks the Beta markets: JUP, HYPE, ZEC, and the stock markets SPCX, SNDK, and SKHYNIX, which track a share price with no token or share behind a position. They are powered by GUM, an orderbook trading engine, with USDC collateral, an hourly funding rate, taker and maker fees, and one net position per market, and they are in early release: no take profit or stop loss, capped position and order sizes, and leverage limits that vary by market. JLP marks SOL, ETH, and wBTC, the markets priced by oracles and backed by the JLP pool, which the rest of the Perps pages describe.
On Beta markets, funding is applied every hour, on the hour (UTC), between longs and shorts. Funding (1H) is the current hourly rate, and Countdown is the time left until the next payment, in minutes and seconds. A positive rate means longs pay shorts, a negative rate means shorts pay longs. See Funding rate and countdown.
Take profit and stop loss orders are not available on Beta markets yet. They remain available on SOL, ETH, and wBTC, except on a market order opened at 150x leverage or more, where the trade form disables its Take Profit / Stop Loss box. See Opening a position.
Beta markets hold one net position per market. A trade in the opposite direction reduces your existing position, closes it if the sizes match, or reverses it if the new trade is larger. To hold a long and a short on the same asset at once, use the JLP markets (SOL, ETH, wBTC), where each side is a separate position. See One net position per market.
Jupiter Perps offers leveraged long and short positions on nine markets. SOL, ETH, and wBTC trade against the JLP pool, with up to 6 simultaneous positions, one per asset per direction. The six Beta markets, JUP, HYPE, ZEC, SPCX, SNDK, and SKHYNIX, are powered by GUM with USDC collateral and hold one net position per market.
On the JLP markets, you can pay with any token offered in the token selector (the market tokens, USDC and other verified tokens) when opening a position or depositing collateral. It is swapped automatically to the correct underlying collateral token before the position is opened, so you do not need to swap manually beforehand. Limit orders accept only the market token or USDC (the form preselects the market token for a long and USDC for a short), and a market order with take profit / stop loss accepts only SOL, ETH, BTC, USDC or USDT. Beta markets use USDC only.
Long positions use the underlying asset as collateral (SOL for SOL longs, wETH for ETH longs, wBTC for wBTC longs). Short positions use USDC as collateral regardless of the shorted asset.This design protects the pool from scenarios where a series of profitable trades could deplete its reserves.
When you deposit collateral, the exchange records its value in USD at the time of deposit. That USD value remains fixed for the lifetime of the position, regardless of subsequent price movements in the collateral token.Example: Depositing $100 worth of SOL records your collateral as $100 USD. If SOL price later moves 50% in either direction, your recorded collateral size for this position remains $100.
Jupiter Perps allows only one position per asset per side. If you open a new position on the same asset and direction as an existing one, both are automatically merged into a single position.After the merge:
  • Sizes and collaterals are added together, so the combined leverage is the total size divided by the total collateral, not the average of the two leverages
  • Any existing TP/SL orders are preserved
For long positions, profits are paid in the underlying token (e.g. SOL for a SOL long). The USD profit is converted to tokens at the price at the time of closing, not at your entry price.Example: A SOL long closed with a total value of $150 when SOL = $110 returns $150 / $110 = 1.3636 SOL.PnL is shown before fees by default. Switch the Value column header to Inc. Fees to include them (on narrower windows, use the switch next to PNL), or open Close to see the amount you would receive.
The new entry price is the total position size in USD divided by the total number of tokens it represents (the existing tokens at the old entry price plus the new tokens at the fill price), so it moves toward the new fill in proportion to how much you add. Before you confirm, the Entry Price row of the trade form shows the current entry price and the new one.
Yes. From the Positions tab, you can choose to close a position partially or fully. When reducing position size partially, the collateral is adjusted proportionally to maintain the same leverage ratio.
It is Quick Close: one click sends an order to close the whole position at the current price, with USDC as the output token. A confirmation dialog appears the first time, with a Don’t show again option; after that, the position closes immediately on click. For a partial close or a different output token, use Close. See Quick Close.
On the JLP markets (SOL, ETH, wBTC), trades are executed by a keeper (an automated offchain service run by Jupiter), and the app picks one of two paths. On the request path, the first transaction submits your trade request to the Solana blockchain, and the keeper validates and fulfills it in a second transaction; the trade is only live once that second transaction is confirmed. On the single-transaction path, you sign one transaction that the keeper co-signs and executes right away. Limit orders and take profit / stop loss orders always go through the keeper when their price is reached. On Beta markets, you sign a single transaction and the GUM engine confirms the order.
There is no minimum position size, but a position needs at least 10 USD of collateral and a leverage of at least 1.1x. Below either threshold the trade button shows the blocking reason, for example “Minimum 10 USD collateral”, instead of submitting. Keep a little SOL in the wallet as well: the interface recommends 0.03 SOL to cover the transaction fees of the request and its fulfilment.
Closed position details, including realized PnL and fees paid, can be viewed in the History tab of the Jupiter Perps interface, next to Positions and Open Orders below the chart. For a complete onchain record of all transactions, you can also look up your wallet address on a Solana block explorer such as Solscan.
Yes. Open the History tab below the chart and click Export Trades, at the right of the tab bar. The button needs a connected wallet and builds a CSV of every trade made by that wallet on Perps, JLP and Beta markets together, not only the rows currently displayed, then saves it to your Downloads folder. The export is available on the desktop layout only; on a phone, use the desktop site or look up your wallet on a Solana explorer such as Solscan.
When you connect a wallet to Jupiter Perps, an Acknowledge Terms and Conditions prompt confirms that you understand how Perps works and accept its risks (including liquidation, network congestion, and limit order behavior). Ticking Do not show again. hides it for 30 days for that wallet in this browser.
The Leaderboard displays the top traders on Jupiter Perps by trading volume, broken down by asset (WBTC, ETH, SOL) and time period. You can find it in the ⋮ menu at the right of the market header, under Leaderboard.The Leaderboard is informational only. It does not award rewards or imply endorsement of any trading strategy. Ranking reflects trading volume, not profitability.

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Chart

On Beta markets the header shows the Mark Price, an oracle price for the underlying that the trading engine uses for margin and liquidations, while the chart follows the last traded price on the orderbook. On a thin market, or on a stock market while the underlying exchange is closed, the two can drift apart for a moment. Liquidation always follows the mark price. See Beta Markets.
The Perps chart has no Display Options menu (that is a Spot token-page feature). It has two kinds of overlays, each with its own switch:
  • Lines for your open positions: entry (SOL-long, SOL-short), liquidation, take profit, and stop loss. Untick Positions on chart in the bar under the chart, next to Close All, to hide them without cancelling anything. The × on a line does something different: on a TP, SL or limit order line it cancels that order, and on the entry line of a SOL, ETH or wBTC position it closes the whole position at market after you approve it in your wallet.
  • Green and red circles under the candles (B, S, L) marking your past buys, sells, and liquidations on that market. Right-click the chart and choose Hide marks on bars; the same item shows them again.
Both choices are saved in your browser. See Positions on the Chart.
They are your own past trades on that market: green B circles for buys, red S for sells and L for liquidations, grouped per candle (hover one for size and average price). To hide them, right-click the chart and choose Hide marks on bars; the setting is saved in your browser and the same item brings them back. See Past trades on the chart.On a phone, it depends on where you trade. On jup.ag in a phone browser, the chart is the same but the menu needs a right-click: a long press on the chart opens the crosshair instead, so the marks stay. The Jupiter Mobile app does not draw past trades on its Perps chart, so there is nothing to hide; the $ icon that shows or hides your trades on the app’s token chart exists for Spot only.
In a toolbar on the left edge of the chart, collapsed by default. Click the small handle halfway down the left edge of the chart to open it. The second button from the top, Trend line tools, holds Trend Line, Ray, Info Line, Extended Line, Trend Angle, Horizontal Line, Horizontal Ray, Vertical Line and Cross Line, plus Parallel Channel and Regression Trend; the other buttons cover Fibonacci tools, patterns, brushes, text, shapes, the measure tool, zoom and the magnet. Pick a tool, then click on the chart to place its points. The toolbar also has buttons to hide, lock or remove all drawings, and the arrow at its right edge collapses it again. The magnifier at the right of the chart header, Search tool or function, finds any drawing tool, indicator or setting by name. Drawings are saved in your browser with the rest of the chart state.
It depends on what you want back:
  • Zoom and scroll: right-click an empty area of the chart and choose Reset chart view (⌥R on Mac, Alt+R on Windows). The entry appears once the view has been moved.
  • Indicators and drawings: the same right-click menu has Remove indicators and Remove drawings.
  • Colours, scales and other settings: open Chart settings with the gear in the chart header, then choose Apply defaults from the menu at the bottom left of the dialog (•••, or Template on a wide window).
  • Price scale on the left instead of the right: right-click the price scale and choose Move scale to right. Apply defaults does not move it back.
The chart state is saved in your browser, so a reset only changes the chart there. Your positions, orders and the Positions on chart toggle are not affected.
The chart cannot be dragged vertically while its price scale is in Auto mode, which fits the visible candles to the screen. Turn Auto off by dragging the price scale on the right of the chart, by clicking the A button at the bottom of that scale, or by unticking Auto (fits data to screen) in the scale’s menu (the icon at the bottom of the price scale). You can then drag the chart up and down; Reset price scale (⌥R on Mac, Alt+R on Windows) or Auto brings the automatic framing back. There is no previous chart version to switch to: Jupiter Perps uses one TradingView chart, updated with the app.
It depends on where you trade:
  • jup.ag on a computer: yes. Right-click the candles and choose Hide. To show them again, switch to another market and come back: see the next question.
  • jup.ag in a phone browser (or a browser window narrower than a tablet): yes. Tap Trade at the bottom of the screen to replace the chart with the order form; the Positions, Open Orders and History tabs stay below it. Tap Chart to bring the chart back. The choice is saved in your browser.
  • Jupiter Mobile app: no, the Perps tab always shows the chart above your positions.
They were hidden with Hide, in the menu that opens when you right-click the candles. The Perps chart has no menu to show them again: switch to another market, then return to the first one, and the candles are back. Reloading the page does not bring them back, because the chart state is saved in your browser.

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Fees & Costs

SOL, ETH, and wBTC trade against the JLP pool and charge an hourly borrow fee. Beta markets trade on an orderbook engine and charge an hourly funding rate paid between longs and shorts instead, plus a taker fee on market orders or a maker fee on limit orders. There is no base fee or price impact fee on Beta markets. See Beta Markets.
On the JLP markets (SOL, ETH, wBTC), the main fees to account for are:
  • Base fee: 0.06% of trade size, charged on open and close
  • Price impact fee: Scales with trade size and the recent net trading flow on the asset; at most 0.44% of trade size at current parameters (the app prevails)
  • Borrow fee: Accrues on the full position size, at an hourly rate, for as long as the position is open
  • Transaction fee: SOL network fee per transaction, plus a priority fee Jupiter sets automatically
  • Swap fee: Applies if your input token needs to be swapped to the correct collateral token
A small SOL rent amount is also charged for the request accounts created by each action, and refunded once the request is executed or rejected. See the Fees page for full details and formulas.
They are rent refunds. Actions sent to Jupiter Perps as requests (opening, closing, adding or removing collateral) create a request account and its token account, each holding a little SOL as rent. When the keeper executes or rejects the request, both accounts are closed and their rent returns to your wallet as small transfers of a few thousandths of a SOL. Closing several positions produces several of them. A refund means the request has been processed, not that it was delayed: check the History tab to confirm the close filled, since a rejected request also refunds its rent while the position stays open. See Fees.
Jupiter Perps executes trades at oracle prices, so the execution price does not depend on trade size the way it would on an orderbook. This creates a risk for JLP holders: large trades could be exploited by moving prices on external exchanges and opening positions on Jupiter to profit from the difference.The price impact fee simulates the slippage that would occur on a traditional orderbook exchange. It scales with trade size (linear component) and increases further when the net size traded on the asset over roughly the last minute, in either direction, exceeds a threshold (additive component), so splitting a large order within the same minute does not avoid that part. At current parameters, the base fee and price impact together are capped at 0.50%, so the price impact fee is at most 0.44% of trade size (the app prevails). See the Fees page for full details.
Borrow fees accrue continuously on the full position size, without compounding, for as long as the position is open. They count against your collateral in the liquidation price and are taken from your collateral when you add to, reduce, or close the position, or deposit or withdraw collateral. The rate depends on current utilization: the higher the proportion of pool tokens in use, the higher the borrow rate. Shorts use the USDC custody’s rate and utilization, which also counts USDC lent through JLP Loans.You can find the current hourly borrow rate for each asset under Borrow Rate in the market header. See the Fees page for the full formula.
Token prices are sourced from onchain price oracles (Edge by Chaos Labs as primary, Chainlink and Pyth as verification and fallback). These oracle prices are used as the mark price for all operations: opening and closing positions, adjusting size, depositing or withdrawing collateral, calculating PnL, calculating liquidation prices, and triggering TP/SL orders.Price data used in Jupiter Perps may differ from prices shown on other onchain or offchain aggregators. The Jupiter Perps price chart is the reference to use when making trade decisions.

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Liquidation & Risk

No. Jupiter Perps has no margin call: it does not prompt you to add collateral before a position is liquidated. On the JLP markets (SOL, ETH, wBTC), the position is liquidated once the oracle price reaches its liquidation price; on Beta markets, once the mark price reaches it (see Liquidation on Beta markets). Watch the Liq. Price of your positions, and add collateral or reduce the position yourself when the price gets close.
On the JLP markets (SOL, ETH, wBTC), liquidation is triggered when the oracle price reaches the position’s liquidation price. The position is automatically closed and all remaining collateral is taken as a liquidation fee, after the loss, the close fee and borrow fees. You will not receive any portion of your collateral back.On Beta markets, the trigger is the mark price, a liquidation fee of 0.75% to 1% of the position value applies depending on the market, and whatever collateral remains after the loss and fees is returned to you; in a fast market, it can be little or nothing.To reduce liquidation risk: deposit additional collateral, reduce leverage, or set a stop loss order to close the position before the liquidation price is reached. A stop loss close to the liquidation price is not guaranteed to execute first.
Borrow fees accrue continuously and count against your collateral. As they grow, the liquidation price moves closer to the current market price, even without any price movement or manual position changes.This effect is most significant at leverage above 10x and for positions held over extended periods. Regularly monitoring your liquidation price is essential.
The maximum leverage available when opening a position is 250x for SOL, ETH, and wBTC. The leverage slider ranges from 1.1x to 250x. On Beta markets the cap is set per market and shown as a badge in the selector (20x on each Beta market today).Note: The liquidation price formula uses an internal protocol limit of 500x to define the minimum maintenance margin threshold. This is a separate parameter and does not affect the leverage available to traders.
Limit orders are independent from open positions. They remain active after a liquidation event and will continue to monitor the oracle price. If the target price is reached after the liquidation, the limit order will open a new position.
Not reliably. Jupiter Perps does not enforce FIFO (First-in, First-out) execution ordering. If a limit order and a liquidation transaction are submitted to the network at the same time, whichever is processed first by Solana will execute. The outcome cannot be guaranteed. Do not rely on a limit order as a liquidation prevention mechanism.
On the JLP markets (SOL, ETH, wBTC), the app does not accept new limit orders when utilization for that side reaches 80% (for shorts, the USDC custody’s utilization, which also counts USDC lent through JLP Loans), to protect pool liquidity under high demand. Wait for utilization to decrease or use a market order instead. Beta markets work the other way round: when the engine flags a market as unhealthy, only limit orders are accepted, see When only limit orders are available.