JLP Delta-Neutral
The live track record is accruing. This series populates automatically as analytics snapshots are recorded.
Strategy-level figures from Vega's analytics service: total value across venues (custody wallet, Jupiter Lend net, Hyperliquid), updated every minute and shown as a moving average. Return = PnL vs strategy baseline / current value.
Allocations
Live · on-chainAbout this vault
JLP is the liquidity pool behind Jupiter Perps, Solana's largest perpetuals exchange. Liquidity providers earn the bulk of trading fees but carry the pool's market exposure. Vega's strategy keeps the fee income and removes the direction: every leg of the pool's exposure is hedged, and the hedges are placed where funding conditions are most favourable.
The result is a USDC-denominated yield stream that does not depend on whether crypto goes up or down. Deposits mint vJLP at the live share price; withdrawals burn it back to USDC at the terms shown under Details. Target net APY is 15-20% with a max-drawdown budget under 1%. Targets are objectives, not guarantees; live performance is published on-chain and reflected in the share price above.
How capital is allocated
- JLP exposure is built with leverage via Jupiter Lend borrow markets, collateralized on Solana.
- The pool's market exposure is hedged on external venues so the position stays market-neutral.
- Capital is allocated to those venues from institutional MPC custody (Cobo); a liquidity buffer stays in the Voltr vault for deposits, withdrawals and rebalancing.
- Positions are rebalanced systematically as pool composition and funding regimes move.
Custody & infrastructure
- Deposits, share issuance and withdrawals are enforced by the Voltr non-custodial vault program on Solana.
- The off-chain hedge leg operates on external venues under fund management with institutional MPC custody (Cobo).
- Strategy value is reported on-chain to the vault; the share price reflects it continuously.
Your position
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Vault info
Solana
Vega Finance ↗
Jupiter Perps
Hyperliquid
Voltr
Cobo Custody
USDC
JLP
SOL
BTC
ETHWhere the edge comes from
A modeling layer trained on funding-rate and pool-composition data continuously scores hedge venues and ratios, so the system knows where and how much to hedge before conditions shift.
Low-latency infrastructure routes and splits every rebalance across venues, keeping slippage and cost-of-carry to a minimum so the captured yield stays in the vault.
Questions?
Mandates, capacity, custody setup. Talk to the team directly.
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