Perp trading on Solana has exploded this year. With sub-second finality and near-zero fees, Solana finally has the infrastructure to rival CEX-style derivatives trading — but with on-chain custody and DeFi composability. Neat, right?
For traders, the question isn’t “should I use Solana perps?” It’s which venue and what platform fits my style.
Wanna know more? Let’s dive in!
⚡ Drift — CEX-like Fills with On-Chain Finality
- How it works: Hybrid design — orderbook + AMM + Just-in-Time (JIT) liquidity auctions. Market makers compete in real time to fill your order, often improving your execution vs a static AMM.
- Why does it matter?:
- Tight spreads for market takers.
- Cross-margin engine for efficiency.
- Integrates with Pyth oracles for low-latency pricing.
- You can trade directly inside telegram courtesy of their integration with our bot, SolCypher allowing you to handle your trades from any device in the world.
- Tight spreads for market takers.
- Best for: Traders who move size or scalp quickly and want CEX-quality fills without leaving Solana.
📉 Zeta Markets — Pure Orderbook Perps
- How this works: As a traditional on-chain orderbook. Think CEX execution, but on Solana rails.
- Why it matters:
- It has a clean, familiar perp trading flow.
- Lower fees for active traders.
- It has a clean, familiar perp trading flow.
- Best for: Traders who just want a no-nonsense orderbook and tight fees.
📲 Jupiter Perps — The “All-in-One” Option
- How it works: This perps options offers features built inside the Jupiter super app (which supports swaps, launches, lending). Uses Chainlink Data Streams for pricing and offers JLP tokens for LP exposure.
- Why it matters:
- Everything in one place: swap spot, farm yields, and trade perps without switching apps.
- Retail-friendly UI + mobile support.
- Everything in one place: swap spot, farm yields, and trade perps without switching apps.
- Best for: Casual or mid-sized traders who already live inside Jupiter.
🚀 Aster — The New Challenger (and Airdrop Alpha)
- What’s happening: Aster has been surging in trader chatter as a fresh Solana perp DEX challenger. Buzz is building around their upcoming airdrop for active traders, with eligibility tied to trading activity and volume.
- Why it matters:
- New DEX = higher incentive programs, more aggressive fee rebates.
- Early users usually get the biggest cut of airdrops, and it’s shaping up to be a huge one.
- New DEX = higher incentive programs, more aggressive fee rebates.
- Best for: Degens and early adopters who don’t mind smaller liquidity today in exchange for farming tomorrow’s upside.
🔑 Key Takeaways for Traders
- Move size with Drift → JIT auctions = better fills, plus cross-margin. Trade with comfort and speed. (No need for a monitor)
- Stick to orderbooks with Zeta → Simple, efficient, CEX-like execution.
- One-stop shop with Jupiter → Easy if you’re already swapping/farming there.
- Farm the future with Aster → Trade now, position for the airdrop.
⚠️ Risks to Watch
- Liquidations: Know how each platform handles margin calls and insurance.
- Oracles: Volatility can expose differences between Pyth (Drift) and Chainlink (Jupiter).
- Liquidity depth: Aster may offer rewards, but size takers risk slippage until volumes scale.
🎯 Bottom Line
Solana’s perp landscape is no longer one-size-fits-all. Drift, Zeta, and Jupiter give you established choices depending on style. Aster is the rising wildcard — smaller today, but with an incoming trader airdrop that could turn early adopters into winners.
For traders, the playbook is simple:
- Trade size → Drift.
- Keep it simple → Zeta.
- Stay in one app → Jupiter.
- Farm upside → Aster.
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