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Perps Quickstart

Apart from Spot products like Swap or DCA, Jupiter has its own Perpetual Exchange, providing both liquidity provisioning opportunities and leverage trading! Don’t worry if you’re new to this, we’ve got your back. This guide will help you navigate the basics of Jupiter Perps.

Overview​

Welcome to Jupiter Perpetuals, a perpetual exchange where you can trade with leverage (up to 100x!) on popular tokens like SOL, ETH, wBTC.

Perps V2!

Try out the new Perps UI at https://jup.ag/perps-v2, featuring a new design and other features like Limit Orders, Gasless Orders and more!

The Jupiter Perpetuals exchange is a trader-to-LP exchange which means liquidity providers (LPs) provide liquidity to the exchange, while the traders borrow tokens from the liquidity pool (the JLP pool) for leverage.

  1. Jupiter Liquidity Providers

    Liquidity for the Jupiter Perpetuals exchange is provided by the JLP Pool, which holds SOL, ETH, wBTC, USDC, and USDT as the underlying tokens. The pool provides ample liquidity for traders to open highly-leveraged positions, while earning an attractive return on a portion of the trading fees.

    Learn more about how the JLP Pool works here.

  2. Traders

    Traders can deposit collateral to enter positions and borrowing the rest of the position from the pool. Subsequently, they can manage their positions by withdrawing collateral to close their positions fully or partially. The Jupiter Perpetuals Exchange features a simple interface and underlying trading mechanisms to provide a safe and seamless trading experience.

    Learn more about how the exchange works here.

Key Features​

  • Leverage: Traders can trade with leverage up to 100x.
  • Collateral: Traders can deposit SOL, ETH, wBTC, USDC, and USDT as collateral. By using Jupiter Swap, traders can also use other tokens seamlessly as collateral.
  • Liquidity: The JLP Pool provides ample liquidity for traders to open highly-leveraged positions.
  • Price oracles: The exchange uses price oracles for pricing, while also ensuring that large trades will not incur price impact like traditional derivatives platforms.
  • Risk and Economic Management: Working closely with different risk teams to ensure a stable and fair trading environment.

New Features in Perps V2​

  • Limit Orders: Traders can place limit orders to buy or sell at a specific price.
  • Gasless Orders: Traders can place orders without worrying about gas fees.
  • Improved Execution: Keepers execute orders faster and more efficiently.
Statistics Dashboards

You can find various metrics on Jupiter Perpetuals on the following dashboards:

  1. Chaos Labs Dashboard
  2. Gauntlet Dashboard
  3. Dune Analytics