> ## 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.

# Risks and Limitations

> Key risks and limitations to understand when trading on Jupiter Spot.

Jupiter Spot surfaces a wide range of tokens and market data, and lets you trade them directly. This page describes the risks involved. Read it carefully before trading.

## Trading risks

<AccordionGroup>
  <Accordion title="Slippage">
    Slippage is the difference between the price you expect and the price you actually get when the trade executes, because market conditions can change between submitting a trade and it landing onchain. In [Ultra Mode](/user-docs/trade/spot/ultra-mode), slippage is managed automatically via RTSE (Real-Time Slippage Estimator). In [Manual Mode](/user-docs/trade/spot/manual-mode), you set your own tolerance — too low increases the chance of failed trades, too high exposes you to worse prices.
  </Accordion>

  <Accordion title="Price impact">
    Price impact occurs when your trade size is large relative to the available liquidity in a pool — the larger your trade compared to the pool, the more the price moves against you. Jupiter displays the estimated price impact before you confirm; routing across multiple pools helps reduce it. The displayed price impact includes Ultra fees and, for gasless trades, the gasless surcharge.
  </Accordion>

  <Accordion title="MEV (Maximal Extractable Value)">
    MEV refers to strategies like front-running and sandwich attacks where bots exploit pending transactions. [Ultra Mode](/user-docs/trade/spot/ultra-mode) includes built-in MEV protection through private transaction submission, which significantly reduces the risk but does not eliminate it — MEV cannot be fully prevented on any blockchain. [Manual Mode](/user-docs/trade/spot/manual-mode) does not include MEV protection.
  </Accordion>

  <Accordion title="Gasless trade costs">
    When using [Ultra Gasless Support](/user-docs/trade/spot/ultra-mode#gasless-trading), Jupiter pays the gas on your behalf, but the cost is deducted from your trade as a surcharge of up to 10%. Gasless is a last-resort mechanism for users who cannot pay gas themselves; paying your own gas generally results in better execution. The surcharge does not apply to swaps routed through JupiterZ, where the market maker covers the gas.
  </Accordion>
</AccordionGroup>

## Token risks

Spot displays tokens as soon as they are tradeable onchain, including tokens that are:

* **Newly launched** — very short history, limited liquidity, and unpredictable price behavior
* **Unverified** — not reviewed through [Jupiter's verification process](/user-docs/launch/vrfd). Unverified does not necessarily mean malicious, but no review has been performed.
* **On a bonding curve** — not yet migrated to a standard liquidity pool (see below); limited liquidity and high price impact per trade.

Because token creation on Solana is permissionless, anyone can create a token with any name or ticker — including fake tokens designed to impersonate legitimate projects. **Always verify the contract address before trading.** Jupiter reduces this risk through verification, activity-based ranking, and filtering of known fake tokens, but these protections do not eliminate it.

<Warning>
  Spot indicators — such as holder count, liquidity, organic score, and verification status — are **informational tools, not guarantees of safety**. A token can display favorable metrics and still carry significant risk. Always conduct your own research before trading.
</Warning>

<Accordion title="What is a bonding curve?">
  Some tokens launch through a bonding curve mechanism (used by launchpads like Pump.fun and others). In this model, the token's price is determined by a mathematical curve rather than by a traditional liquidity pool.

  The **bonding curve percentage** shown on Spot represents how much of the curve has been filled. Once the curve reaches 100%, the token typically migrates to a standard <Tooltip tip="Automated Market Maker — a protocol that uses liquidity pools and a mathematical formula to determine token prices, instead of a traditional order book.">AMM</Tooltip> liquidity pool (e.g., on Raydium or Meteora).

  Before migration, liquidity is limited to what the bonding curve provides, and price impact on trades can be significantly higher than on established pools.
</Accordion>

### Developer authority risks

Some tokens have active developer controls that allow the token creator to take actions that affect all holders:

* **Mint Authority** — if enabled, the developer can create additional tokens at any time, potentially diluting existing holders
* **Freeze Authority** — if enabled, the developer can freeze any token account, preventing the holder from transferring or selling

Spot displays these indicators on token pages. Check them before trading.

### Liquidity removal (rug pulls)

Token creators can remove all liquidity from a pool at any time, making the token untradable and effectively worthless — commonly called a "rug pull." If liquidity falls below Jupiter's minimum requirements, the market is delisted from routing (see [How tokens are listed and routed](/user-docs/trade/spot/token-page#how-tokens-are-listed-and-routed)).

### Jupiter Shield

Jupiter Shield flags potential risks in the trade widget when detected. Examples of warnings include:

| Warning                  | Meaning                                                            |
| ------------------------ | ------------------------------------------------------------------ |
| **Not Verified**         | The token is not verified — check the mint address before trading. |
| **Low Organic Activity** | The token has low natural trading activity.                        |
| **New Listing**          | The token was recently listed.                                     |
| **Has Freeze Authority** | The authority owner can freeze your token account.                 |
| **Has Mint Authority**   | The authority owner can mint additional tokens.                    |

Jupiter continuously improves this system to increase accuracy and add new risk indicators over time.

## Liquidity and price impact

Tokens displayed on Spot vary widely in liquidity. Low-liquidity tokens carry additional risks:

* **High price impact** — your trade itself can move the price significantly
* **Slippage** — the difference between the quoted price and the executed price may be large
* **Difficulty exiting** — selling a large position may not be possible at the expected price, or at all, if liquidity is insufficient

## Wallet tracking and copy trading risks

[SmartMoney](/user-docs/trade/spot/smart-money) lets you follow other wallets and monitor their trades in real time. If you use this information to replicate another wallet's trades:

* **Past performance of any wallet does not predict future results**
* You are executing trades from your own wallet, at your own price — market conditions may have changed between the tracked wallet's trade and yours
* Tracked wallets may have different risk tolerance, time horizons, or information than you
* There is no guarantee that a wallet showing profitable trades is not engaged in manipulative behavior

<Warning>
  Following a wallet and replicating its trades is entirely at your own risk. Jupiter does not endorse, verify, or audit any wallet shown in SmartMoney.
</Warning>

## Product-specific risks

### Limit Orders

<AccordionGroup>
  <Accordion title="Stop Loss is not guaranteed to execute">
    When the trigger is reached, the order is submitted for execution with your slippage tolerance applied. If the price drops past your Stop Loss trigger by more than your set slippage tolerance, the order will not execute. See [Take Profit and Stop Loss](/user-docs/trade/spot/limit-orders#take-profit-and-stop-loss).
  </Accordion>

  <Accordion title="Output amount not guaranteed on V2">
    Limit Order V2 prioritizes execution with minimal slippage when the trigger is hit, but the exact output amount may differ from the estimate shown at order creation.
  </Accordion>

  <Accordion title="Partial fills">
    Orders may execute partially if liquidity is insufficient. The remaining amount stays active until fully filled, cancelled, or expired.
  </Accordion>

  <Accordion title="Token-2022 not supported">
    Tokens using the Token-2022 standard with transfer tax features are not supported on Limit Orders V1 or V2.
  </Accordion>
</AccordionGroup>

### Recurring Orders

<AccordionGroup>
  <Accordion title="Failed suborders">
    Individual suborders can fail due to insufficient liquidity, excessive slippage, or network congestion. Failed suborders automatically retry at the next scheduled interval.
  </Accordion>

  <Accordion title="ATA closure risk">
    If you manually close your token's Associated Token Account (ATA) during an active Recurring Order, purchased tokens will remain in the vault instead of being transferred to your wallet. Never close your ATA before withdrawing or swapping your tokens.
  </Accordion>

  <Accordion title="Token-2022 not supported">
    Same limitation as Limit Orders — tokens with transfer tax features are not supported.
  </Accordion>

  <Accordion title="No pause/resume">
    You cannot pause a Recurring Order. To stop, you must cancel and create a new one.
  </Accordion>
</AccordionGroup>

## Environment risks

<Accordion title="Browser extensions">
  Some browser extensions modify Jupiter's quote responses or inject additional referral fees, resulting in higher-than-expected fees on your trades. These extensions operate independently of Jupiter. If you notice unexpected fees, disable third-party extensions and restart your browser. See the [FAQ](/user-docs/trade/spot/faq#why-am-i-paying-more-fees-on-jupiter-than-expected) for known extensions and detailed steps.
</Accordion>

## General limitations

* Spot displays data from onchain sources. This data can be delayed, incomplete, or manipulated.
* Token metadata (name, symbol, description, social links) is provided by the token creator and is not verified by Jupiter unless the token has been through the [verification process](/user-docs/launch/vrfd).
* AI-generated insights (powered by Chain Insights) are automated summaries. They may contain inaccuracies and should not be treated as financial advice.
* Jupiter does not provide financial advice. Nothing displayed on Spot constitutes a recommendation to buy, sell, or hold any token.

***

<CardGroup cols={2}>
  <Card title="Fees" icon="coins" href="/user-docs/trade/spot/fees">
    Understand the fee structure on Spot.
  </Card>

  <Card title="Token Page" icon="chart-line" href="/user-docs/trade/spot/token-page">
    Safety indicators and token data explained.
  </Card>
</CardGroup>