Jupiter Perps risk score
Short answer: Perpd scores Jupiter Perps 83/100 (Lower risk) as of 14 Nov 2026, ranking 1 of 10. Its weakest factor is cost (5/10): 0.06% open and close, plus price impact of up to 0.44%, plus hourly utilisation-based borrow fees, which are expensive versus order books. Its strongest is volume quality (10/10).
| Factor | Weight | Score | Why |
|---|---|---|---|
| Exit risk | 20% | 7/10 | Self-custody Solana program with no bridge needed. |
| Security record | 15% | 9/10 | Formula: 10, minus 1 because no bounty with a stated maximum exists. |
| Liquidation & ADL | 15% | 9/10 | JLP pool backstop is disclosed and no ADL or manipulation incidents were found. |
| Execution check | 15% | Not scored yet: needs 7 daily order-book snapshots. Preview in Perp DEX fees compared: what a $100K trade really costs. | |
| Volume quality | 10% | 10/10 | Open interest of $44.49M against about $195M of average daily volume (30-day volume $5.86B) gives a ratio of about 4.4, and no wash-trading allegations were found. |
| Access & legal | 10% | 10/10 | Named entity (Block Raccoon S.A., Panama), clear restricted list, discretionary KYC, and no regulator action found. |
| Token, unlocks & team | 10% | 7/10 | JUP team allocation is 20% (under 30%) and team releases are suspended. |
| Cost | 5% | 5/10 | 0.06% open and close, plus price impact of up to 0.44%, plus hourly utilisation-based borrow fees, which are expensive versus order books. |
Weighted over the 7 scored factors: 83/100. Method: How Perpd scores perp DEXs.
Exit risk: 7/10
Self-custody Solana program with no bridge needed. Execution relies on Jupiter keepers, and no withdrawal pauses were found.
- 'LP-to-trader perpetual exchange based on oracle prices' on Solana. TVL $308.6M. (source, accessed 2026-11-09)
- Program upgrade authority/multisig, keeper-failure fallback, withdrawal pauses: not found.
Security record: 9/10
Formula: 10, minus 1 because no bounty with a stated maximum exists. Audits (OtterSec, Sec3, Offside) predate later upgrades, and beta markets on GUM are unaudited.
- Perps audits: OtterSec (2023), Sec3 (Jan 17 2024), Offside Labs (Feb 2024). The program has been upgraded since. Beta markets run on a separate GUM engine not covered by these audits. Disclosure is via security@jup.ag, with no stated bounty maximum. (source, accessed 2026-11-09)
- Exploits/incidents: not found.
- Launch: 2023 (implied by the 2023 OtterSec audit). Exact date not found. (source, accessed 2026-11-09)
Liquidation & ADL: 9/10
JLP pool backstop is disclosed and no ADL or manipulation incidents were found. The fee docs do not name an oracle (-1). Liquidation takes all remaining collateral.
- On liquidation, all remaining collateral is taken as the liquidation fee. Trades execute at oracle prices, but the provider is not named on the fees page. (source, accessed 2026-11-09)
- Blockworks analysis: Jupiter's risk vault is unlikely to face a Hyperliquid-style (JELLY) attack. (source, not found)
- JLP size: about $308.6M TVL. (source, accessed 2026-11-09)
Volume quality: 10/10
Open interest of $44.49M against about $195M of average daily volume (30-day volume $5.86B) gives a ratio of about 4.4, and no wash-trading allegations were found.
- Perp volume 24h $194.26M, 7d $1.777B, 30d $5.86B. Open interest $44.49M. TVL $631.43M (12 Nov 2026). Cumulative $512.961B. (source, accessed 2026-11-14)
- Wash-trading or points-farming allegations: none found (no points program). (source, accessed 2026-11-14)
- 24h derivatives volume $317.23M. 30d volume and OI not rendered. (source, accessed 2026-11-09)
- Wash-trading allegations: not found.
Access & legal: 10/10
Named entity (Block Raccoon S.A., Panama), clear restricted list, discretionary KYC, and no regulator action found.
- Entity Block Raccoon S.A. Governed by Panama law, with LCIA arbitration seated in London. Restricted: US, China, Singapore, Myanmar, Côte d'Ivoire, Cuba, Crimea/Sevastopol, DRC, Iran, Iraq, Libya, Mali, Nicaragua, North Korea, Somalia, Sudan, Syria, Yemen, Zimbabwe, plus US/UK/EU-sanctioned regions. US: restricted. UK and EU: only via the sanctions catch-all. India and Canada: not mentioned. KYC/AML at Jupiter's discretion. (source, accessed 2026-11-09)
- Regulator actions: not found.
Token, unlocks & team: 7/10
JUP team allocation is 20% (under 30%) and team releases are suspended. However, the schedule data conflicts and team doxx status was not verified.
- DAO vote (75% yes): Jupuary airdrop postponed indefinitely (700M JUP returned to a cold multisig), team token releases suspended indefinitely, Mercurial stakeholder unlock accelerated with buybacks. (source, 2026-02-22)
- Total 7B (6.86B after burns). Circulating about 3.32B. Team 20%, Strategic Reserve 19.04%, Mercurial 5%. 'No upcoming cliff unlock scheduled', yet the same page says 50.61% is still locked (CONTESTED). (source, accessed 2026-11-09)
- Team doxxed: not found.
Cost: 5/10
0.06% open and close, plus price impact of up to 0.44%, plus hourly utilisation-based borrow fees, which are expensive versus order books.
- Base fee 0.06% on open and close. Price impact fee (linear plus additive) brings the total to at most 0.50%. Hourly borrow fee from a utilisation curve (example 0.0016%/hr). Beta markets use maker/taker plus hourly funding. No zero-fee program. (source, accessed 2026-11-09)
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FAQ
Is Jupiter Perps safe?
No perp DEX is risk-free. Perpd scores Jupiter Perps 83/100 (Lower risk). Its main flag is cost (5/10).
How is Jupiter Perps's score calculated?
Seven factors scored 0-10 from public sources (exit, security, liquidation, volume, access, token, cost), weighted and scaled to 100. The execution check joins once we have 7 daily snapshots.
Related
- Perp DEX fees compared: what a $100K trade really costsTaker and maker fees for 10 perp DEXs, plus measured slippage on $100K orders. Fees, not slippage, decide most of your cost.
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Scores are never for sale. This page has no affiliate links and no paid placements. Not financial advice: perps are leveraged and you can lose more than you deposit.