Perp DEXes on Solana: live volume and TVL
PerpFinder tracks 11 perp DEXes on Solana. Their reported 24h volume is $2.44b in total. GMX Solana has the largest share of that volume: 89.5%. Solana holds $6.64b of DeFi TVL.
This page ranks the perp DEXes on Solana by live 24h volume and shows the chain TVL. 11 perp DEXes tracked.
To choose the best perp DEX on Solana, see Best perp DEX on Solana.
Total Value Locked in DeFi
$6.64b
Key metrics
TVL history
Protocol collateral · DefiLlama · USD
Perp DEXes on Solana by 24h volume
11 protocols| # | Protocol | Volume 24h |
|---|---|---|
| 1 | GMX Solana | $2.18b |
| 2 | Jupiter Perpetual Exchange | $177.6m |
| 3 | Phoenix Perp | $68.0m |
| 4 | TurboFlow Perps | $9.7m |
| 5 | Velocity | $32.5k |
| 6 | Mango Markets V4 Perps | — |
| 7 | FlashTrade | — |
| 8 | Adrena Protocol | — |
| 9 | Sour Finance | — |
| 10 | Fermi Trade | — |
| 11 | Pokeliquid | — |
Protocols on Solana
Jupiter Perps
250x leverage · 0.06% when opening and again when closing; base position fee; price impact, borrowing, swap, and network costs are separate
StandX
40x leverage · 4.0 bps taker
Pacifica
50x leverage · 4.0 bps taker
GMTrade
100x leverage · 0.04% or 0.06% when opening and again when closing; rate depends on whether the action improves or worsens the long and short balance
Orderly Network
50x leverage · 3.0 bps taker
Gains Network
1000x leverage · 0.035% when opening and again when closing; BTC and ETH review rate; other pairs can use different fees and spreads
Bullet
100x leverage · 4.0 bps taker
Perpetual futures trading on Solana
Solana supports several current tracked perp deployments: Jupiter Perps, Bullet, Gains Network, Orderly Network, and StandX. Drift is offline, and Zeta Markets is discontinued after its transition to Bullet.
The protocol landscape
Jupiter Perps uses JLP liquidity pools. Traders use liquidity from a basket of SOL, wBTC, ETH, USDC, USDT and JupUSD. Jupiter charges 0.06% when a trader opens a position and 0.06% when the trader closes it. Price impact and hourly borrow fees can also apply. SOL, ETH, and wBTC markets currently allow up to 250x leverage. Drift used a virtual automated market maker and an order book before it went offline in April 2026.
Zeta Markets pioneered the fully on-chain CLOB model on Solana and transitioned to the Bullet Network in May 2025. Orderly Network deploys its shared liquidity infrastructure across seventeen chains including Solana, providing backend liquidity to multiple frontend applications.
DefiLlama's Solana derivatives page shows combined perp DEX TVL above $800 million on Solana as of mid-2026.
Latency and cost structure
Solana transactions cost under $0.001 in most conditions. During periods of high network load, priority fees can push this to $0.01-$0.05, but even at peak, Solana fees remain the lowest among chains with active perp trading. The Solana documentation describes a parallel transaction processing model (Sealevel) that allows non-overlapping transactions to execute simultaneously, which is why the chain handles high perp order frequency without degrading.
Use the perpetuals listing for current Solana volume and cross-venue comparisons.
What works and what does not
Solana works well for traders who already hold Solana assets. These traders can avoid a cross-chain bridge when they use Jupiter Perps. They must still deposit supported collateral.
The chain's risk profile differs from Ethereum rollups. Solana has experienced multiple outages since 2021, including network halts lasting several hours. The chain has improved stability significantly since 2023, but the history warrants mention. Unlike Ethereum L2s, Solana does not inherit Ethereum security guarantees. It runs its own validator set.
Compare Solana protocol fees against Arbitrum and Hyperliquid alternatives on the cost comparison page, or see the full ranked list at /perps.