Summary
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Volume: Volume increased by 21.5% on Jupiter in the past week compared to previous weeks, averaging 277.0M per day, compared to 228.0M on average in the three weeks prior.
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Prices: In the same span, SOL’s price increased by 12.98%, ETH’s price increased by 10.60%, and BTC’s price increased by 7.36%. JLP increased by 7.98% vs. the JLP basket’s 7.81% increase, representing an outperformance of 0.17% for LPs relative to the JLP pool’s underlying assets.
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Traders PnL: Aggregate realized PnL increased by 295.4K gross and decreased by 1.1M net. Unrealized PnL decreased by $665.6K.
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Fees: Jupiter’s weekly fees were ~1.6M with a daily average of 234.4K, a increase of 27.9% compared to the previous three weeks.
Protocol level
JLP pool
JLP TVL
The JLP pool held relatively steady in nominal terms this week.
The pool’s composition also hemmed close to target, with utilization rates remaining steady.
JLP Market Comparison
JLP’s market price increased by 7.98% over the last week. In the same period, BTC increased by 7.36%, ETH increased by 10.60%, and SOL increased by 12.98%.
JLP vs Underlying
Given the JLP pool’s weights:
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SOL - 44.00%
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WBTC - 17.00%
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WETH - 8.00%
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USDC - 31.00%
JLP’s basket price increased by 7.81%, reflecting an outperformance of 0.17% for LPs due to the long-skewed imbalance of open interest.
Volume
Volume increased by 21.5% on Jupiter in the past week compared to previous weeks, averaging 277.0M per day, compared to 228.0M on average in the three weeks prior. BTC’s average daily volume increased by 7.1% 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 68.1% of the protocol volume in the last week.
Unique daily users
Jupiter’s perps exchange has served a maximum of ~4,687 unique addresses on its most active days. Recently, it has served between 2,534 - 4,687 addresses per day.
Unique Users
PnL
Due to Jupiter traders’ net long exposure, their aggregate realized PnL increased by 295.4K in gross terms and decreased by 1.1M after accounting for fees. Traders’ cumulative unrealized PnLs, meanwhile, decreased by $665.6K this week.
Gross PnL
Net PnL
Unrealized PnL
Fees
Over the past week, Jupiter’s cumulative fees were ~1.6M, with a daily average of 234.4K, a increase of 27.9% from $183.3K 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