{
  "questions": [
    {
      "question": "What mechanism does Jupiter Perps use to keep perpetual futures prices aligned with the underlying spot market?",
      "options": [
        "Funding rates paid between longs and shorts",
        "Borrow fees paid to the JLP pool",
        "Daily settlement and rollover",
        "A market maker quoting both sides"
      ],
      "correctAnswer": 1,
      "explanation": "Unlike most CEX perps that use funding rates, Jupiter Perps charges borrow fees to open positions, which flow to the JLP pool and serve as the price-alignment mechanism."
    },
    {
      "question": "When you open a position on Jupiter Perps, who is your direct counterparty?",
      "options": [
        "Other traders placing opposing orders",
        "Jupiter Labs acting as the house",
        "Liquidity providers in the JLP pool",
        "Chainlink oracle operators"
      ],
      "correctAnswer": 2,
      "explanation": "Jupiter Perps uses a pool-based model where you borrow assets from the JLP pool, so when you profit the pool pays, and when you lose the pool gains."
    },
    {
      "question": "A trader opens a 50x long position. Approximately how large a price move against them would trigger liquidation?",
      "options": [
        "Around 50%",
        "Around 10%",
        "Around 2%",
        "Around 0.2%"
      ],
      "correctAnswer": 2,
      "explanation": "Liquidation is triggered when remaining collateral falls below 0.2% of position size, which at 50x leverage corresponds to roughly a 2% adverse price move."
    },
    {
      "question": "What happens to a position's liquidation price even when the market price does not move?",
      "options": [
        "It stays fixed at the price set when the position was opened",
        "It drifts closer to market price as borrow fees accumulate",
        "It improves because unrealized PnL offsets the margin requirement",
        "It resets every 24 hours based on the daily funding snapshot"
      ],
      "correctAnswer": 1,
      "explanation": "Borrow fees compound hourly and reduce remaining collateral over time, causing the liquidation price to drift toward the current market price even with no adverse price movement."
    }
  ]
}