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Protocol Comparison

Continuum vs Jupiter Perps: Synthetics vs Perpetuals

Understanding the difference between synthetic tokens and perpetual futures

A comparison of Continuum synthetic tokens and Jupiter perpetual futures for leveraged trading on Solana.

Continuum

Solana

Synthetic Token Protocol

Position Type
Token-based (transferable)excellent
Holding Cost
Noneexcellent
Maximum Leverage
Via external lendinggood
Liquidation Risk
Only when using leverageexcellent
Composability
Full SPL token standardexcellent
Position Flexibility
Trade on any DEXexcellent
Capital Efficiency
100% collateralizedgood

Pros

  • No funding rates or holding costs
  • Tokens work across all Solana DeFi
  • Transfer positions between wallets
  • No liquidation without leverage

Cons

  • Leverage requires external protocols
  • Full collateralization for minting
  • Need to manage two token types (L/S)

Jupiter Perps

Solana

Perpetual Futures Protocol

Position Type
Contract-based (non-transferable)fair
Holding Cost
Funding rate (hourly)fair
Maximum Leverage
Up to 100xexcellent
Liquidation Risk
Always presentfair
Composability
Limited to Jupiterfair
Position Flexibility
Jupiter platform onlyfair
Capital Efficiency
High (low margin)excellent

Pros

  • Very high leverage available
  • Capital efficient for short-term trades
  • Deep liquidity on major pairs
  • Familiar interface for futures traders

Cons

  • Funding rates can be expensive
  • Positions not transferable or composable
  • Constant liquidation risk

Our Verdict

Continuum is better for longer-term positions, DeFi integration, and strategies requiring composable tokens. Jupiter Perps excels at short-term leveraged speculation with capital efficiency.

Which Should You Use?

Scalping / Day Trading

Jupiter Perps

High leverage and capital efficiency for short-term trades

Swing Trading (days to weeks)

Continuum

No funding rates eating into profits over time

Long-term exposure

Continuum

Hold indefinitely without accumulating funding costs

Collateral for other protocols

Continuum

L/S tokens can be used as collateral across Solana DeFi

Maximum leverage trading

Jupiter Perps

Native support for up to 100x leverage

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Synthetic Assets vs Wrapped Tokens: What's the Difference?

Understanding two approaches to bringing assets on-chain

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