The JUP token has been officially listed for spot trading against USDT on a leading digital asset exchange. The new trading pair went live at 11:10 PM UTC+8 on January 31st.
Starting February 1st at 12:05 AM UTC+8, the platform will introduce the JUPUSDT perpetual contract across its web, mobile, and API interfaces. Additionally, margin trading and simplified earning products for JUP/USDT will become available at 12:00 PM UTC+8 on the same day.
Available Trading and Earning Features
Margin Trading and Simplified Earnings
The JUP token will support USDT-margin trading upon launch. Users can check the specific margin level tiers and borrowing requirements directly on the platform’s help section after the service goes live.
The simplified earn feature will also offer JUP-related products. Details on quota limits, subscription rules, and annual percentage rates (APR) will be available on the product page at the time of launch.
Perpetual Contracts
The JUPUSDT perpetual contract allows traders to speculate on the future price of JUP against Tether (USDT) without an expiration date.
Key contract specifications include:
- Underlying Asset: JUP/USDT index
- Settlement Currency: USDT
- Contract Face Value: 10 JUP
- Pricing Unit: Price quoted per 1 JUP in USDT
- Minimum Price Movement: 0.0001
- Leverage Range: 0.01x to 50x
- Trading Hours: 24/7
Understanding Funding Rates
The funding rate is calculated periodically to ensure the contract price aligns closely with the spot market price. It is determined using the following formula:
Clamp(MA([(Contract Best Bid + Contract Best Ask) / 2 – Spot Index Price] / Spot Index Price – Interest), -0.75%, 0.75%)
Here, Interest is set to 0. Payments and receipts of funding fees are settled on a periodic basis.
To ensure reasonable funding rate charges during the initial launch period when premiums may be volatile, a special measure is in place:
- Before February 2nd, 00:00 (UTC+8), the maximum funding rate上限 is temporarily set at 0.03%.
- After February 2nd, 00:00 (UTC+8), the maximum rate will return to the standard 1.50%.
The first funding fee under the standard rate will be collected at 08:00 AM UTC+8 on February 2nd.
Other trading rules, including limit order parameters, match the platform’s standard USDT-margined perpetual contracts. 👉 Explore more trading strategies
Frequently Asked Questions
What is the JUP token?
JUP is the native token of the Jupiter ecosystem, a leading liquidity aggregator on the Solana blockchain. It facilitates governance and utility within its decentralized exchange (DEX) environment.
When can I start trading JUP margin and perpetual contracts?
Margin trading and simplified earn products for JUP begin on February 1st at 12:00 PM UTC+8. Perpetual contracts were launched earlier that same day at 12:05 AM UTC+8.
What leverage is available for JUPUSDT perpetual contracts?
Traders can utilize leverage from a minimum of 0.01x up to a maximum of 50x, allowing for flexible position sizing based on individual risk appetite.
How are funding rates calculated for the new JUP contract?
Funding rates use a formula based on the difference between the perpetual contract's mid-price and the spot index price. A temporary cap is applied initially for stability.
Is there a risk to using high leverage?
Yes, while leverage can amplify profits, it also significantly increases the risk of substantial losses, especially in volatile market conditions. It is crucial to employ proper risk management techniques.
Where can I find more detailed rules for these products?
Complete documentation, including trading guides, fee structures, and risk disclosures, is always available in the help center or support section of the trading platform you are using.
All investment decisions should be made after thorough personal research and evaluation of your financial situation. Digital assets are volatile and involve high risk.