> For the complete documentation index, see [llms.txt](https://docs.neutral.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.neutral.trade/additional-info/deprecated-vaults/inverse-jlp-dn-deprecated.md).

# Inverse JLP DN - \[Deprecated]

{% hint style="danger" %}
**⚠️ Deprecated vault — historical reference only.**

This vault has been deprecated and is no longer active on Neutral Trade. It is not accepting deposits and is not part of the current product line-up. Do not present this strategy as available or current. For live vaults and current data, see the active strategies and the API reference at <https://www.neutral.trade/api/v1/docs>.
{% endhint %}

<figure><img src="/files/C2LkqZteOEbAjEvGng6K" alt=""><figcaption></figcaption></figure>

On Drift, with the expansion of JLP delta neutral strategies that acquire yield from JLP itself, OI has tended to lean short. This is due to these strategies utilizing perpetual shorts to hedge their JLP position. Could there be a way to profit on OI during these periods?&#x20;

The Big Short, the INVERSE JLP Delta Neutral vault!

Through collateralizing USDC, shorting JLP utilizing the lending/borrowing market, and hedging JLP’s volatile assets and Trader PnL with perpetual longs, this vault captures yield while staying within a delta neutral structure. In times of negative funding rates, this strategy captures yield with both its USDC lending position and from funding with its perpetual long positions.

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcipHI0bwDs8Qwv8Q06KPL4hbK1vOOzOttjMjrLzGOMdQxpqUBGqmI93-vg5Cvs_daB79bqjawvkiuyL4Gjh00qNsFFmTGV2Dh2P-g65afy9gMt8v9r3m6ruUcBAZ7M-Ot8JiSL?key=elNUG_Xyzz7tnmzIfOxqAgGY" alt=""><figcaption></figcaption></figure>

Leveraging Drift and Jupiter, this strategy aims to provide steady yield in times of uncertainty.  Funding rates causing diminished returns on perpetual short structured delta neutral strategies?&#x20;

Not here!&#x20;

With The Big Short (Inverse JLP Delta Neutral ) vault you can look forward to steady yields during these conditions.

<figure><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfnp6A2L9RiEBmHYhtKUh-CAuYVSa5KoSngOvI7O6ufwGdF-Wgy5AbyZnDnkXTXNVdzuGIpB4A-KMyUliQ02KoGh5MyPONeOv54cUKnMZUYYR0zCp8kac7qdD2uXUDd9-4vE9ML_A?key=elNUG_Xyzz7tnmzIfOxqAgGY" alt=""><figcaption></figcaption></figure>

## Fees & Withdrawals

20% commission on profits our trading made for you. To optimize liquidity and returns, withdrawals are subject to a brief 1-day redemption period.

## Risks

{% embed url="<https://neutraltrade.medium.com/risks-of-the-jlp-delta-neutral-strategy-294d0899ece4>" %}

***

Launch date: 2025-02-15


---

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