# Weekly Risk Report | November 24, 2024 **URL:** \ **Category:** Risk\ **Tags:** risk, chaos-labs\ **Created:** [November 25, 2024, 7:22pm UTC](https://discuss.jup.ag/t/weekly-risk-report-november-24-2024/28024 "2024-11-25T19:22:06Z")\ **Posts on this page:** 5\ **Page:** 1
**Author:** ![chaoslabs](https://yyz1.discourse-cdn.com/flex003/user_avatar/discuss.jup.ag/chaoslabs/32/4510_2.png) [@chaoslabs](https://discuss.jup.ag/u/chaoslabs)\ **Post date:** [November 25, 2024, 7:22pm UTC](https://discuss.jup.ag/t/weekly-risk-report-november-24-2024/28024/1 "2024-11-25T19:22:06Z")
![Jupiter Weekly Risk Report](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/f/fb8c923d4aee2486e2eb3ebfabaa24c3603dc0b8.png) ## Summary - Over the past week, the protocol’s volume once again increased, this time by. Daily volumes averaged $1.5B, compared to a $1.1B daily average in the three weeks prior. - In the same span, SOL’s price increased by 6.98%, ETH’s price increased by 9.57%, and BTC’s price increased by 9.19%. JLP increased by 2.09% vs. the JLP basket’s 5.16%, representing an impermanent loss of 3.07% for LPs relative to the JLP pool’s underlying assets. - Jupiter traders’ aggregate realized PnL increased by $41.7M in gross terms but decreased by $6.7M net of fees. Traders’ cumulative unrealized PnLs, meanwhile, increased by $5.3M this week. ## Protocol Level ### JLP Pool ![JLP Pool Assets Distribution](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/7/7e9cc12589e5bcd155c9919495e0ff1f26865984.png) ![Token TVL Over Time](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/a/a915f5e55efbd1d6deb490ee60b44f20aa3b69c5.png) ![Token Amount](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/0/0c184ebe99f8339bb0870434364319d04559b61b.png) The JLP pool grew in every dimension over the last seven days, with its recent AUM limit increases catalyzing its growth. ![Liquidity Allocation](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/1/1e89c8a7a3ff7eba022441735769be3a3c7b00a4.png) ![Weightage Breakdown](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/7/7f8033677978771fd40c08bc67d6d6be9263eb80.png) The pool’s composition also hemmed close to target, with utilization rates remaining steady. ![Utilization Rate Over Time](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/1/199dcfae00f9abb4b7eb0514148d41c4b3554371.png) ### JLP Market Comparison JLP’s market price increased by 2.09% over the last week. In the same period, BTC increased by 9.19%, ETH increased by 9.57%, and SOL increased by 6.98%. Given the JLP pool’s weights: - SOL - 44.25% - WBTC - 11.64% - WETH - 10.46% - USDC - 25.46% - USDT - 8.19% JLP’s basket price increased by 5.16%, reflecting an impermanent loss of 3.07% for LPs due to the long-skewed imbalance of open interest. ### Volume Volume increased by 42.84% on Jupiter in the past week compared to previous weeks, averaging $1.5B per day, compared to $1.1B on average in the three weeks prior. BTC’s average daily volume increased by 60.03% over the last week compared to the three weeks prior. ![Daily Volume Per Pair](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/3/3d9e708752ff5098a8fefaa412e775d885384ae7.png) ![Volume Distribution Last Week](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/f/f667a5a654d0155e80f5c437345f07a79fe471fc.png) SOL continues to be the most dominant market on Jupiter, consisting of 71.28% of the protocol volume in the last week. ### Unique Daily Users Looking at unique daily users, it suggests a maximum of ~14,500 users on the most active days. Recently, it was between 6,000 and 12,000. ![Unique Users Over Time](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/9/9db3cb7e7476acae982e133d48a9d8796922591d.png) ### PnL Due to Jupiter traders’ net long exposure, their aggregate realized PnL increased by $41.7M in gross terms and decreased by $6.7M after accounting for fees. Traders’ cumulative unrealized PnLs, meanwhile, increased by $5.3M this week. ![Traders Cumulative Gross PnL By Market](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/2/2a00be716e81693d47327c98b683a4dbdafb78f0.png) ![Traders Cumulative Net PnL By Market](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/1/10ce2e653cd3b393fc8739d7b92bb935c085361a.png) ![Traders Cumulative Unrealized PnL](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/0/073bed436079c42e1d4442738c2119fb7e1020cf.png) ### Fees Over the past week, Jupiter’s cumulative fees were ~$12.6M, with a daily average of $1.8M, an increase of 21.57% from $1.5M the previous three weeks. ![Daily Fee USD Last 7 Days](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/f/fdd327728a6dcacb3efc88d7fccf80c275d85cfe.png) ![Cumulative Fee USD Last 7 Days](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/0/035f2a79eb7cd289ecd6b818be4f2afc11caa46c.png) ## 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 Open Interest Distribution](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/9/9fd5d5dd3b804af506126ec11bb3ea3a90ca133c.png) ![SOL Open Interest Distribution 100](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/a/aa406ef2e0039e3a1f16250483c4bd6abc32bb25.png) **BTC** : ![WBTC Open Interest Distribution](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/a/a5ad09465d2fa1c5ccf226d1c78b431e739722a8.png) ![WBTC Open Interest Distribution 100](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/a/a99f9751deab835ac66f243331ff1945b282acbc.png) **ETH** : ![WETH Open Interest Distribution](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/8/830444a0ef37eec722891ab4f258b55a7f936a4f.png) ![WETH Open Interest Distribution 100](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/1/11c5de45d5c5e204348f22b0a112b11a02bc5100.png) ### Price Impact P99 trades have paid 8.98 bps in the SOL market over the last four weeks, while BTC and ETH markets have paid 6.96 and 6.56 bps, respectively. P95 and below pay less than 1 basis point above 6 bps, the base rate, in all markets. **SOL** : ![SOL Price Impact](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/5/567e85e922b406389815861a7502d104b7e07fb2.png) **BTC** : ![WBTC Price Impact](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/1/1e9ff83d780084db54f708535baebcb5c3d39a53.png) **ETH** : ![WETH Price Impact](https://canada1.discourse-cdn.com/flex003/uploads/jupresear/original/2X/9/9c85a8804de3a2300a9eebbde980e2b649d342b1.png) ---
**Author:** ![Mbolorman](https://yyz1.discourse-cdn.com/flex003/user_avatar/discuss.jup.ag/mbolorman/32/4735_2.png) [@Mbolorman](https://discuss.jup.ag/u/Mbolorman)\ **Post date:** [November 25, 2024, 10:00pm UTC](https://discuss.jup.ag/t/weekly-risk-report-november-24-2024/28024/2 "2024-11-25T22:00:06Z")
Thanks @chaoslabs. You are consistent with the high standards of your weekly risk reports​:clap:t6:👏🏿 ---
**Author:** ![SolanaSultan](https://yyz1.discourse-cdn.com/flex003/user_avatar/discuss.jup.ag/solanasultan/32/4151_2.png) [@SolanaSultan](https://discuss.jup.ag/u/SolanaSultan)\ **Post date:** [November 26, 2024, 12:17am UTC](https://discuss.jup.ag/t/weekly-risk-report-november-24-2024/28024/3 "2024-11-26T00:17:03Z")
Holy Smokes! The amount of detail and Chart Representation here is mind blowing! Much Love for Sharing this!!! Thank you & God Bless… PPP J4J ---
**Author:** ![NameGames](https://yyz1.discourse-cdn.com/flex003/user_avatar/discuss.jup.ag/namegames/32/1886_2.png) [@NameGames](https://discuss.jup.ag/u/NameGames)\ **Post date:** [November 29, 2024, 5:02am UTC](https://discuss.jup.ag/t/weekly-risk-report-november-24-2024/28024/4 "2024-11-29T05:02:01Z")
this is quite brilliant work, legit wow may i ask whats ur process and tools u use to collect the data? ---
**Author:** ![Pilot369](https://avatars.discourse-cdn.com/v4/letter/p/db5fbb/32.png) [@Pilot369](https://discuss.jup.ag/u/Pilot369)\ **Post date:** [November 29, 2024, 10:49am UTC](https://discuss.jup.ag/t/weekly-risk-report-november-24-2024/28024/5 "2024-11-29T10:49:16Z")
Good metric love it ❤❤❤❤