Jupiter Perps LP fees fall 29% in a week as the JLP pool holds steady
Fees on Jupiter’s perpetuals exchange fell 29% to $1.7 million in the week to Oct. 1, while its JLP pool held near $803 million as of 5:40 p.m. ET.
The quick take
- Price: $JLP at $4.83, +0.1% ↑ in 24 hours (CoinGecko, as of 5:40 p.m. ET, Oct. 2).
- Trigger: Jupiter Perps fees fell to $1.7 million from Sept. 25 to Oct. 1, down from $2.4 million the week before (DefiLlama).
- Watch: whether daily fees climb back toward the $300,000-plus days seen in late September.
Jupiter Perps LP fees fell 29% in a week, a slowdown that reaches every holder of Jupiter Perps LP ($JLP). Traders paid $1.7 million in fees on the Jupiter Exchange perpetuals venue from Sept. 25 to Oct. 1, DefiLlama data show. The week before, they paid $2.4 million.
The pool itself barely moved. It held $803 million as of 5:40 p.m. ET, down 3.4% in seven days. So the money stayed, but fewer trades flowed through it.
What happened
DefiLlama tracks fees on the Jupiter Perpetual Exchange day by day. The busiest recent day was Sept. 18, at $502,115. Fees then stayed above $300,000 on most days through Sept. 25.
The past week was quieter. Oct. 1 brought $149,581 in fees, the lowest daily total since Sept. 26. Over the last 30 days, the venue collected $7.9 million in all.
The pool tells a calmer story. DefiLlama shows it rose from $729 million on Sept. 16 to a peak of $831 million on Sept. 26. Since then it has drifted back to about $803 million, a dip of 1.0% in the last day.
DefiLlama counts the pool as the exchange’s total value locked, or TVL. All of Solana’s DeFi held $6.6 billion at the same time, so this one pool makes up about 12% of it.
Why it moved
Fees matter here because they are how the pool earns. Jupiter says JLP holders get 75% of the fees the pool generates. That covers opening and closing fees, price impact, borrowing fees and trading fees.
When traders open and close fewer positions, that income shrinks. The pool’s size does not have to change for that to happen. That is the pattern this week: steady deposits, thinner trading.
The token’s price follows a different driver. Jupiter describes JLP as an index of Solana ($SOL), $ETH, $BTC, $USDC and JupUSD. Its value moves with those assets more than with fees from any single week.
How the price held up
$JLP traded at $4.83 as of 5:40 p.m. ET, up 0.1% in 24 hours, per CoinGecko. Its 24-hour range ran from $4.81 to $4.96. It is down 1.6% over seven days but up 11% over 30 days.
The price sits 19% below the record high of $5.99, set on Oct. 6, 2025. Jupiter’s own price feed matched CoinGecko within 0.01%.
The basket explains most of the week. $SOL stood at $118.01, down 3.4% in seven days, per CoinGecko. LiveCoinWatch showed $BTC at $84,514, down 0.2% in a day, and $ETH at $2,661, down 1.2%.
What to watch next
The first thing to watch is daily fee totals on DefiLlama. A return to $300,000-plus days would show traders coming back.
The second is the pool’s size. A drop well below $800 million would mean deposits are leaving, not just trades slowing.
The third is the basket. A sharp swing in $SOL, $BTC or $ETH can move $JLP faster than any change in fees.
The last is the fee share itself. Jupiter lists 75% today, and any change to that figure would change the math for every holder.
Bottom line: Jupiter Perps fees fell 29% in a week, while the JLP pool kept most of its deposits and its price held near $4.83.
Sources
- DefiLlama: Jupiter Perpetual Exchange fees (daily fees, Sept. 16 to Oct. 1, read 21:47 UTC)
- DefiLlama: Jupiter Perpetual Exchange TVL (pool value, read 21:40 UTC)
- Jupiter: JLP page (fee share and pool assets)
- CoinGecko: Jupiter Perps LP (JLP) (price, range, record high, 21:40 UTC)
- CoinGecko: Solana (price and 7-day change, 21:40 UTC)
- LiveCoinWatch ($BTC and $ETH context, 21:40 UTC)
Price data: CoinGecko.
Not financial advice.
