Jupiter Perps Fees

This page covers every fee type charged on the JLP markets of Jupiter Perps (SOL, ETH, wBTC), including when each fee applies, how it is calculated, and worked examples. Beta markets charge a taker or maker fee per order and an hourly funding rate instead of the base, price impact, and borrow fees below.

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 the recent net trading flow on the asset exceeds a threshold
Borrow fee	Continuously while position is open	Hourly rate from a utilization curve, on the full position size
Swap fee	When a token swap is needed	0.10% base (0.02% between two stablecoins), adjusted by weightage
JLP mint/burn fee	When minting or redeeming JLP	0.20% base, adjusted by weightage
Transaction fee	On every transaction	SOL network fee + a priority fee set automatically
Liquidation fee	On liquidation	All remaining collateral

The JLP mint/burn fee applies when interacting with the JLP pool directly (minting or redeeming JLP). It is included here because it uses the same weightage-based adjustment as the Perps swap fee, on a different base rate. Full JLP details: JLP Earn.

When Do You Pay Fees?

Fees are charged at three different moments in the life of a position. This summary covers what you can expect at each stage. Each fee is documented in detail in its own section below. Opening a position:

Base fee (0.06% of trade size)
Price impact fee (scales with trade size and the recent net trading flow on the asset)
Swap fee (only if your input token differs from the position’s underlying collateral token)
SOL transaction fee (network fee + a priority fee Jupiter sets automatically)
SOL rent for the request accounts the trade creates (refunded once the trade is executed)

While the position is open:

Borrow fee, accruing continuously for as long as the position is open and settled from your collateral when you change or close the position

Closing a position:

Base fee (0.06% of trade size)
Price impact fee
Swap fee (only if you choose to receive profits in a token different from the underlying collateral token)
SOL transaction fee

If a position is liquidated instead of closed manually, all remaining collateral is taken as a liquidation fee. See the Liquidation Penalty section.

Fees in the Trade Interface

The trade form on Jupiter Perps shows a Total Fees row, with a live breakdown of all fees behind it, before you confirm a position. The values are calculated in real time based on the current market conditions and your selected size, leverage, and collateral.

Field	What it represents
Entry Price	The oracle price at which the position would open
Liquidation Price	The price at which the position would be liquidated (estimate)
Slippage	Your configured slippage tolerance (default 1%); click Max: x% to change it
Open Fee (0.06%)	The base fee charged to open the position
Price Impact	The price impact fee for the trade size and the recent net trading flow on the asset
Borrow Fees Due	Borrow fees owed on your existing position on this market and side, settled by this trade (0 if you have no position)
Transaction Fee	SOL network fee + a priority fee Jupiter sets automatically based on market conditions
Account Rent	SOL rent for the accounts the trade creates, refunded once the trade is executed

Use the breakdown to verify the total cost before submitting a trade.

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 x 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, so the execution price does not depend on trade size the way it would on an orderbook. 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, a linear one and an additive one. The base fee, the linear fee and the additive fee together are capped at 0.50% of the trade size, so the price impact fee itself is at most 0.44% at current parameters (the trade form’s Price Impact tooltip shows this maximum; the app prevails).

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 (BPS) = ceil(Trade Size (USD, 6 decimals) × 10,000 / tradeImpactFeeScalar)
Linear Fee (USD) = Trade Size × Linear Fee (BPS) / 10,000

The rate is rounded up to the next whole basis point, so any trade pays at least 0.01%. At current parameters, a SOL trade pays 0.01% for every started ~$375,000 of size (ETH ~$1.5M, wBTC ~$2.4M). Parameters can change; the trade form shows the fee before you confirm. Custody accounts (for scalar values):

Example (SOL, October 2026 parameters):

Step	Value
Trade size	$10,000
`tradeImpactFeeScalar`	3,750,000,000,000,000
Linear fee rate	ceil(10,000,000,000 × 10,000 / 3,750,000,000,000,000) = ceil(0.027) = 1 BPS
Linear fee	$10,000 × 0.01% = $1.00

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 (6 decimals)
const sizeBase = tradeSizeUsd * USDC_DECIMALS;

// 3. Fee rate in BPS, rounded up to a whole basis point
const feeBps = Math.ceil((sizeBase * BPS_POWER) / scalar);

// 4. Final fee in USD
const feeUsd = (tradeSizeUsd * feeBps) / BPS_POWER;

Reference: Chaos Labs initial proposal

Additive Price Impact Fee

The additive component applies on top of the linear fee when the imbalance exceeds a predefined threshold. The imbalance is the net size opened minus closed on the asset over roughly the last minute, in either direction, your own trade included, so splitting a large order within the same minute does not avoid it. It is not the difference between total long and total short open interest. Each asset has its own threshold (priceImpactBuffer.deltaImbalanceThresholdDecimal), feeFactor, exponent, and maxFeeBps values stored in its custody account. At current parameters the threshold is $1.5M on SOL and ETH and $750,000 on wBTC. Formula:

Additive Penalty (BPS) =
  ceil((Imbalance / Threshold)
       ^ exponent)
  / feeFactor  (rounded up)

Total Fee (BPS) = min(
  Base Fee + Linear Fee
  + Additive Penalty,
  maxFeeBps
)

Price Impact Fee (USD) =
  Trade Size
  * (Total Fee (BPS)
     - Base Fee (BPS))
  / 10000

If the imbalance is below the threshold, the additive penalty is zero. Example (SOL, October 2026 parameters, no other recent flow on the asset):

Parameter	Value
Trade size	$1,720,000
`tradeImpactFeeScalar`	3,750,000,000,000,000
`deltaImbalanceThreshold`	$1,500,000
`feeFactor` / `exponent`	1 / 1
`maxFeeBps`	50 BPS (0.50%, base fee included)

Linear fee: ceil(1,720,000 / 375,000) = 5 BPS
Additive penalty: the imbalance ($1,720,000) exceeds the threshold, so ceil(1,720,000 / 1,500,000) = 2 BPS
Total: 6 (base) + 5 + 2 = 13 BPS, below the 50 BPS cap. Price impact fee = 7 BPS × $1,720,000 = about $1,204

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

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 accrue continuously on the full position size, without compounding. They appear as Borrow Fees Due, are taken from your collateral when you add to, reduce, or close the position, or deposit or withdraw collateral, and count against your collateral in the liquidation price in the meantime.

Formula

Borrow Fee (USD) =
  Position Size (USD)
  * Hourly Borrow Rate
  * Hours Open

The hourly borrow rate comes from a per-asset utilization curve (jumpRateState in the custody account): an annual rate that rises slowly from a minimum up to a target utilization, then steeply toward a maximum as the pool’s tokens get fully used, divided by the number of hours in a year. The Borrow Rate shown in the market header (% / hr) is this rate at current utilization, so no separate utilization factor applies. The formula above assumes a constant rate; the program accrues the rate as it changes with utilization. Longs use the curve and utilization of the market asset; shorts use the curve and utilization of the USDC custody, which also count USDC lent through JLP Loans.

Show Calculating Utilization and Borrow Rate (code)

// Utilization (debt = USDC lent through JLP Loans; 0 on the other custodies)
owned  = custody.assets.owned + debt
locked = custody.assets.locked + debt
IF owned > 0 AND locked > 0:
  utilization = locked / owned
ELSE:
  utilization = 0

// Annual rate from the jump-rate curve (custody.jumpRateState)
IF utilization <= targetUtilizationRate:
  yearlyRate = minRateBps + (targetRateBps - minRateBps) * utilization / targetUtilizationRate
ELSE:
  yearlyRate = targetRateBps + (maxRateBps - targetRateBps) * (utilization - targetUtilizationRate) / (1 - targetUtilizationRate)

// Hourly borrow rate
hourlyBorrowRate = yearlyRate / 8,760

Worked Example

Parameter	Value
Position size	$10,000 SOL long
Borrow Rate (market header)	0.0016% / hour (illustrative; it changes with utilization)
Borrow fee	$10,000 × 0.000016 = $0.16 per hour, about $3.84 per day

Borrow fees count against your collateral while the position is open. Over time, this reduces your effective margin and moves your liquidation price closer to the current 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:

Any swap involving SOL, ETH, or wBTC: 10 BPS (0.10%)
Swaps between two stablecoins: 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 is not a swap between two stablecoins, so the 10 BPS base applies, then the weightage adjustment.

JLP Mint & Burn Fee

Minting (depositing assets into the JLP) and burning (redeeming JLP for assets) start from a base fee of 0.20% for every asset (launch value; the app prevails), adjusted by the same weightage mechanism as swaps, since both actions change the pool composition: the fee goes down when the action moves the asset closer to its target weight and up, by as much as about 1%, when it moves it further away. For more on the JLP pool, mint and burn flows, and yield mechanics: JLP Earn.

Transaction and Priority Fees

Traders pay a SOL network fee for each transaction submitted to Solana.
Jupiter adds a priority fee automatically, based on market conditions; there is no priority fee or Jito tip setting.
A small SOL amount is used as rent for the request accounts created by actions sent to the program as requests: opening, closing, adding or removing collateral. Each request creates a request account and its token account (a few thousandths of a SOL in total). Both are closed as soon as the keeper executes or rejects the request, and their rent comes back to your wallet as separate small SOL transfers. Several actions therefore produce several refunds. The position account itself is reused and never closed, so it returns nothing.

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 taken as a liquidation fee, after the loss, the close fee and borrow fees.

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.

Perps

Trading

Resources

Fee Summary

When Do You Pay Fees?

Fees in the Trade Interface

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

​When Do You Pay Fees?

​Fees in the Trade Interface

​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

When Do You Pay Fees?

Fees in the Trade Interface

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