Summary
-
Volume: Volume decreased by 53.3% on Jupiter in the past week compared to previous weeks, averaging $172.6M per day, compared to $369.7M on average in the three weeks prior.
-
Prices: In the same span, SOL’s price increased by 2.84%, ETH’s price decreased by 1.11%, and BTC’s price increased by 0.24%. JLP increased by 1.29%, representing an impermanent loss of 0.04% for LPs relative to the JLP pool’s underlying assets.
-
Traders PnL: Aggregate realized PnL decreased by $270.4M gross and decreased by $303.1M net. Unrealized PnL increased by $2.0M.
-
Fees: Jupiter’s weekly fees were ~$944.7K with a daily average of $135.0K, a decrease of 68.9% compared to the previous three weeks.
Protocol level
JLP pool
JLP TVL
The JLP pool held relatively steady in nominal terms this week.
Utilization
The pool’s composition also hemmed close to target, with utilization rates remaining steady.
Token Amounts
Pool Allocation
JLP Market Comparison
JLP’s market price increased by 1.29% over the last week. In the same period, BTC increased by 0.24%, ETH decreased by 1.11%, and SOL increased by 2.84%.
JLP vs Underlying
Given the JLP pool’s weights:
-
SOL - 45.71%
-
WBTC - 15.32%
-
WETH - 7.66%
-
USDC - 31.31%
JLP’s basket price reflects an impermanent loss of 0.04% for LPs due to the long-skewed imbalance of open interest.
Volume
Volume decreased by 53.3% on Jupiter in the past week compared to previous weeks, averaging $172.6M per day, compared to $369.7M on average in the three weeks prior. BTC’s average daily volume decreased by -58.6% over the last week compared to the three weeks prior.
Daily Volume by Market
Volume Distribution
SOL continues to be the most dominant market on Jupiter, consisting of 71.1% of the protocol volume in the last week.
Unique daily users
Jupiter’s perps exchange has served a maximum of ~9,785 unique addresses on its most active days. Recently, it has served between 2,270 - 3,455 addresses per day.
Unique Users
PnL
Due to Jupiter traders’ net long exposure, their aggregate realized PnL decreased by $270.4M in gross terms and decreased by $303.1M after accounting for fees. Traders’ cumulative unrealized PnLs, meanwhile, increased by $2.0M this week.
Gross PnL
Net PnL
Unrealized PnL
Fees
Over the past week, Jupiter’s cumulative fees were ~$944.7K, with a daily average of $135.0K, a decrease of 68.9% from $434.6K the previous three weeks.
Daily Fees
Cumulative Fees
Market Level
OI distribution
Jupiter’s traders continue to have a strong bias for long positions. There’s currently no expectation or reason for that to change.
SOL:
SOL OI
BTC:
BTC OI
ETH:
ETH OI