Problem: JLP yield comes with market risk
JLP is a Jupiter index pool containing SOL (~45%), ETH (~9%), BTC (~11%), USDC (~24%) and USDT (~11%). The pool earns income from Jupiter DEX trading fees and trader P&L.
The problem: when the market falls, JLP value drops proportionally to its crypto component (~65%). If SOL crashes 30%, JLP holders lose ~13.5% of their position — potentially wiping out all accumulated yield.
Solution: perpetual hedging of each asset
DeltaZero calculates exact JLP exposure to each asset (SOL, ETH, BTC) and opens proportional short positions via perpetual futures:
- SOL exposure 46% → short SOL perp for the corresponding amount
- ETH exposure 7.67% → short ETH perp
- BTC exposure 15.28% → short BTC perp
- Result: total position delta ≈ 0
Net Yield = JLP_APR × Capital − Funding_Cost − Rebalance_Cost
Expected yield
20%
Conservative
No leverage, hedge on Bybit
28%
Balanced
No leverage, multiple exchanges
35%
Aggressive
Leverage + funding optimization
Calculator and backtester in the terminal
Model strategy yield on historical data right in the terminal. Set capital size, leverage, exchange — and get a yield chart with strategy quality metrics.
JLP Delta-Neutral — Capital Allocation, Strategy Calculator, Backtest Engine