Fees

This page covers every fee type charged on Jupiter Perps, including when each fee applies, how it is calculated, and worked examples.

Fee Summary

Fee Type	When Charged	Rate
Base fee	Open and close	0.06% of trade size
Price impact fee (linear)	Open and close	Scales with trade size
Price impact fee (additive)	Open and close	Applies when OI imbalance exceeds threshold
Borrow fee	Continuously while position is open	Hourly, based on utilization and position size
Swap fee	When collateral token is swapped	10 BPS (non-stables), 2 BPS (stables), adjusted by weightage
JLP mint/burn fee	When minting or redeeming JLP	Same weightage-based calculation as swap fee
Transaction fee	On every transaction	SOL network fee + optional priority fee / Jito tip
Liquidation penalty	On liquidation	All remaining collateral

Base Fee

A flat fee of 0.06% is charged on the trade size when opening or closing a position. The base fee applies to:

Opening a position (market or limit order)
Closing a position (manual, TP/SL, or liquidation)

Example:

Trade size: $10,000
Base fee: $10,000 × 0.06% = **$ 6**

Show Calculating the Base Fee (code)

const BPS_POWER = 10 ** 4; // 10_000

// Use 'increasePositionBps' for opening, 'decreasePositionBps' for closing
const baseFeeBps = custody.increasePositionBps;

const baseFeeBpsDecimals = baseFeeBps / BPS_POWER;
const openCloseFeeUsd = tradeSizeUsd * baseFeeBpsDecimals;

Price Impact Fee

Jupiter Perps executes trades at oracle prices, which means traders receive the displayed price regardless of trade size (no orderbook slippage). To compensate for the risk this creates for JLP holders, a price impact fee is charged to simulate the price impact that would occur on a traditional orderbook exchange. The price impact fee has two components that are summed and capped at a per-asset maximum.

Linear Price Impact Fee

The linear component scales proportionally with trade size. Each asset has a fixed scalar constant (pricing.tradeImpactFeeScalar) stored in its custody account. Formula:

Linear Fee Coefficient = Trade Size / Price Impact Fee Scalar Constant
Final Linear Fee       = Trade Size × Linear Fee Coefficient

The tradeImpactFeeScalar value in the custody account is stored in BPS format. Divide by 10,000 to use against USD trade sizes.

Custody accounts (for scalar values):

Example (SOL, at time of writing):

Step	Value
Trade size	$10,000
Scalar constant (raw)	1,250,000,000,000,000
Scalar (÷ 10,000)	125,000,000,000
Linear fee coefficient	10,000 / 125,000,000,000 = 0.00000008
Linear fee	10,000 × 0.00000008 = $0.0008

Show Calculating the Linear Price Impact Fee (code)

const USDC_DECIMALS = 10 ** 6;
const BPS_POWER = 10 ** 4;

// 1. Get scalar from custody account
const scalar = custody.pricing.tradeImpactFeeScalar;

// 2. Convert trade size to base units
const sizeBase = tradeSizeUsd * USDC_DECIMALS;

// 3. Scale to BPS format
const sizeBps = sizeBase * BPS_POWER;

// 4. Fee rate in BPS
const feeBps = sizeBps / scalar;

// 5. Final fee in USD
const feeUsd = (sizeBase * feeBps / BPS_POWER) / USDC_DECIMALS;

Reference: Chaos Labs initial proposal

Additive Price Impact Fee

The additive component applies on top of the linear fee when the open interest (OI) imbalance — the difference between total long OI and total short OI for an asset — exceeds a predefined threshold. Each asset has its own threshold (priceImpactBuffer.deltaImbalanceThresholdDecimal), factor, exp, and maxPriceImpactFee values stored in its custody account. Formula:

Additive Penalty (BPS) = factor * (newImbalance / Threshold) ^ exp Additive Penalty (USD) = Trade Size * (Additive Penalty (BPS) / 10000) Final Price Impact Fee (USD) = min(Linear Fee (USD) + Additive Penalty (USD), Max Fee (USD))

If the imbalance is below the threshold, the additive penalty is zero. Example (SOL long, at time of writing):

Parameter	Value
Trade size	$10,000
New OI imbalance	$2,000,000
`tradeImpactFeeScalar`	1,250,000,000 (USD terms)
`deltaImbalanceThreshold`	$750,000
`maxPriceImpactFee`	50 BPS (0.50%)

Linear fee: $10,000 × 0.000000008 =$ 0.00008
Additive penalty: The imbalance ( $2,000,000) exceeds the threshold ($ 750,000), so the penalty formula applies using the SOL-specific factor and exp values.
Final fee: min(Linear Fee + Additive Penalty, $10,000 × 0.50%) = min(..., **$ 50**)

factor and exp are per-custody parameters defined onchain. The exact values can be read from the custody accounts linked above.

Reference implementation: price-impact-fee.ts Additional references:

Borrow Fee

Traders pay a borrow fee for the duration their leveraged position is open. This fee compensates liquidity providers for the capital locked in the position. Borrow fees compound hourly and are deducted from the position’s collateral.

Formula

Hourly Borrow Fee = (Total Tokens Locked / Total Tokens in Pool) * Hourly Borrow Rate * Position Size (USD)

Variable	Definition
Total Tokens Locked	All tokens locked across all open positions for this asset
Total Tokens in Pool	Total tokens deposited for this asset in the JLP
Hourly Borrow Rate	Per-asset rate, found in the trade form or via `fundingRateState.hourlyFundingBps` in the custody account
Position Size	USD value of the leveraged position

Show Calculating Utilization and Borrow Rate (code)

// Utilization
IF custody.assets.owned > 0 AND custody.assets.locked > 0:
  utilizationPct = custody.assets.locked / custody.assets.owned
ELSE:
  utilizationPct = 0

// Hourly borrow rate
hourlyFundingDbps = custody.fundingRateState.hourlyFundingDbps
hourlyBorrowRate  = (hourlyFundingDbps / 1000) * utilizationPct

Worked Example

Parameter	Value
SOL price	$100
Position size	100 SOL ($10,000)
Total tokens locked	200 SOL
Total tokens in pool	1,010 SOL
Utilization	200 / 1,010 = 19.8%
Hourly borrow rate	0.012% (0.00012)
Hourly borrow fee	(200 / 1,010) × 0.00012 × 10,000 = $0.238 / hour

Borrow fees are continuously deducted from your collateral. Over time, this reduces your effective margin and increases your liquidation price. Positions held for extended periods — especially at high leverage — require regular monitoring.

Swap Fee

When a trade involves swapping between JLP-held assets (e.g. depositing SOL collateral to open a USDC-collateral short), a swap fee is charged. Base rates:

Non-stablecoin assets (SOL, ETH, wBTC): 10 BPS (0.10%)
Stablecoin assets (USDC, USDT): 2 BPS (0.02%)

The final fee is adjusted based on how the swap affects each asset’s current weightage relative to its target weightage in the JLP:

Swaps that move an asset’s current weightage closer to its target → fee decreases
Swaps that move an asset’s current weightage further from its target → fee increases

The pool uses the maximum of the input and output asset’s fee when calculating the final swap fee. Example: Swapping SOL → USDC: the SOL base fee (10 BPS) is used, as it is higher than the USDC base fee (2 BPS). Reference implementation: calculate-swap-amount-and-fee.ts

JLP Mint & Burn Fee

Minting (depositing assets into the JLP) and burning (redeeming JLP for assets) use the same weightage-based fee calculation as swaps, since both actions change the pool composition. Reference implementation: calculate-mint-burn-jlp.ts

Transaction and Priority Fees

Traders pay a SOL network fee for each transaction submitted to Solana.
Optional priority fees or Jito bundle tips can be set in the interface to improve transaction processing speed.
A small SOL amount is used as rent to create an escrow account (PDA) when opening a position. This rent is returned when the position is closed.

The estimated transaction fee and rent amount (in SOL) are shown in the trade form before confirming.

Liquidation Penalty

When a position is liquidated, all remaining collateral is collected by the protocol and distributed to the JLP.

You will lose your entire remaining collateral upon liquidation, not just the amount required to cover the loss. See the Liquidation page for how to monitor and avoid liquidation.

Trading

Jupiter Liquidity Provider (JLP)

Resources

Fee Summary

Base Fee

Price Impact Fee

Linear Price Impact Fee

Additive Price Impact Fee

Borrow Fee

Formula

Worked Example

Swap Fee

JLP Mint & Burn Fee

Transaction and Priority Fees

Liquidation Penalty

Trading

Jupiter Liquidity Provider (JLP)

Resources

​Fee Summary

​Base Fee

​Price Impact Fee

​Linear Price Impact Fee

​Additive Price Impact Fee

​Borrow Fee

​Formula

​Worked Example

​Swap Fee

​JLP Mint & Burn Fee

​Transaction and Priority Fees

​Liquidation Penalty

Fee Summary

Base Fee

Price Impact Fee

Linear Price Impact Fee

Additive Price Impact Fee

Borrow Fee

Formula

Worked Example

Swap Fee

JLP Mint & Burn Fee

Transaction and Priority Fees

Liquidation Penalty