VENUEVERITAS

DEX compare

Jupiter Perps vs Hyperliquid

Evidence-domain compares only. No overall winner. · Publication ready

Jupiter Perps

  • Synthetic
  • Smart-contract custody
  • Edge by Chaos Labs
  • Solana
  • Perpetuals DEX

Hyperliquid

  • Order book
  • Smart-contract custody
  • Validator-published spot oracle: weighted med…
  • Hyperliquid L1
  • Perpetuals DEX

Compare enrichment only — not a full investigation

DEX directory · DEX compares

Key structural differences

  • Liquidity source differs: JLP vault counterparty vs Hyperliquid orderbook peers
  • Oracle models differ: Jupiter Edge/Chainlink/Pyth selection vs Hyperliquid validator-weighted CEX medians
  • Jupiter Perps documents Offside/OtterSec/Sec3 audits; Hyperliquid audit catalog NOT_RESEARCHED here
  • Hyperliquid Interface Terms restrict US/Ontario Restricted Persons; Jupiter frontend ToS geo thin in this pack

Disclosures

  • Hyperliquid is compare-only enrichment — not a production Venue snapshot update
  • No decentralization score from governance tokens or brand

Domain comparison

  • Execution model

    Jupiter Perps

    Synthetic

    Hyperliquid

    Order book

  • Custody

    Jupiter Perps

    Smart-contract custody

    Hyperliquid

    Smart-contract custody

  • Collateral location

    Jupiter Perps

    User Solana wallet → Perps request / position escrow → JLP custody accounts → Onchain settlement in collateral token

    Hyperliquid

    User wallet / bridge → Onchain margin → Hyperliquid L1 settlement

  • Oracle

    Jupiter Perps

    Edge by Chaos Labs

    Hyperliquid

    Validator-published spot oracle: weighted median of Binance, OKX, Bybit, Kraken, Kucoin, Gate.io, MEXC, and Hyperliquid spot (weights 3/2/2/1/1/1/1/1) every ~3s

  • Control plane

    Jupiter Perps

    Unresolved (Researched unresolved)

    Hyperliquid

    Unresolved (Researched unresolved)

  • Liquidation

    Jupiter Perps

    Oracle price reaches liquidation price

    Hyperliquid

    Account equity below maintenance margin (mark price)

  • Liquidity

    Jupiter Perps

    LP VAULT (JLP)

    Hyperliquid

    ORDERBOOK

  • Fees

    Jupiter Perps

    open close base: 0.06%

    Hyperliquid

    maker taker: Tiered by rolling 14D weighted volume (spot counts 2×); separate perps vs spot schedules; maker rebates possible

  • Markets

    Jupiter Perps

    Leveraged perps on SOL, ETH, wBTC vs JLP pool

    Hyperliquid

    Onchain orderbook perps (published VenueVeritas venue; DEX-model enrichment partial)

  • Settlement

    Jupiter Perps

    Solana · On-chain

    Hyperliquid

    Hyperliquid L1 · Appchain

  • Security evidence

    Jupiter Perps

    Smart-contract audit (Offside Labs; Verified structured)

    Hyperliquid

    No structured audit row

  • Geo restrictions

    Jupiter Perps

    Protocol access: Verified not structured; Frontend access: Researched unresolved; Terms of service: Researched unresolved; Legal eligibility: Researched unresolved

    Hyperliquid

    Protocol access: Verified not structured; Frontend access: Verified structured; Terms of service: Verified structured; Geo block: Verified not structured; Legal eligibility: Verified structured

  • Dependencies

    Jupiter Perps

    Solana, JLP pool, Edge (Chaos Labs), Jupiter keepers

    Hyperliquid

    Hyperliquid L1

  • Evidence recency

    Jupiter Perps

    2026-08-30

    Hyperliquid

    2026-08-30

Local compare only. Forbidden language: safer, better, best, recommended, most decentralized (as value judgment). Day-7: no deploy.