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egana
Peg Risk Brief

Is JLP depegged?

No. JLP is holding its peg. Pegana's current read is −0.12% from intrinsic value, inside its calibrated drift band. Jupiter Perpetuals LP (JLP) last traded at $4.4934 against an intrinsic value of $4.4988, as of .

JLP is the Jupiter Perpetuals liquidity-pool token. It has no $1 peg: each token is a share of the pool that backs perps traders, so its intrinsic value is the pool's NAV per token and Pegana measures it against that NAV. Pegana computes JLP’s intrinsic value from its peg mechanism and compares it against the best executable market quote. The spread is smoothed, classified against JLP’s own calibrated thresholds with hysteresis, and every state change emits a public receipt that anyone can re-derive byte-for-byte with the open-source methodology crate.

Last verified Oct 25, 2026, 03:49 UTC