--- title: "Solana DEX vs SOL-USD Perpetual: Volumes and Fees | EVEDEX" description: "Solana DEX volumes and swap fees from DefiLlama and venue docs, and why EVEDEX is not a Solana DEX but offers a SOL-USD perpetual instead." url: "https://evedex.com/en/solana-dex/" lang: "en" --- # Solana DEX or SOL-USD Perpetual: Choose Your Venue EVEDEX is not a Solana DEX and has no token swaps. It lists a SOL-USD perpetual: long or short, up to 200x on positions up to $50,000 notional, 0.015% maker fee cap. [Trade SOLUSD](https://exchange.evedex.com/en/trade/SOLUSD) ## SOL-USD on EVEDEX at a glance Contract terms from EVEDEX trading terms, market data from CoinGecko, both as of September 15, 2026. - **200x** — SOL-USD, positions up to $50,000 notional - **$30.6M** — SOL-USD open interest on CoinGecko - **0.015%** — Maker fee cap, taker 0.045%, before cashback - **24/7** — Trading with USDT margin, no Solana wallet ## Solana DEX venues vs the SOL-USD perpetual A Solana DEX swaps tokens from your wallet; EVEDEX trades a contract on the SOL price. More venues: [best Solana DEX](https://evedex.com/en/blog/best-solana-dex/). How EVEDEX works: [perp DEX](https://evedex.com/en/perp-dex/). | Venue | What you trade | Volume | Trading fee | Drawback | | --- | --- | --- | --- | --- | | **EVEDEX SOL-USD** | Perpetual contract on SOL, not a DEX | $25.4M in 24 hours | Capped at 0.015% maker / 0.045% taker | No SPL tokens | | **PumpSwap** | SPL token swaps in pump.fun pools | $19.2B over 30 days | 0.30% to 1.25%, by market cap | Highest fees on low market-cap tokens | | **Orca** | Swaps in concentrated-liquidity Whirlpools | $7.4B over 30 days | 0.01% to 2%, by pool tier | LPs earn no fees outside their range | | **Raydium** | Swaps in AMM and concentrated pools | $6.6B over 30 days (AMM) | 0.25% standard; 0.01% to 1% concentrated | Permissionless pools list unvetted tokens | _Solana DEXs and the EVEDEX SOL-USD perpetual by volume and fees_ Data as of September 15, 2026. Volumes: [DefiLlama](https://defillama.com/dexs/chain/solana); EVEDEX: [CoinGecko](https://www.coingecko.com/en/exchanges/evedex), trading terms. Fees: [PumpSwap](https://pump.fun/docs/fees), [Orca](https://docs.orca.so/liquidity/concepts/trading-fees), [Raydium](https://docs.raydium.io/raydium/protocol/protocol-fees) docs, checked September 16, 2026. ## Why trade SOL as a perpetual A perpetual gives you exposure to the SOL price without holding SOL. ### Long or short SOL A perpetual works in both directions with the same margin rules. A swap on a Solana DEX only buys or sells the token itself. ### No bridge, no gas token Deposits route through a personal deposit contract on Arbitrum, and trades carry no blockchain fees, so you never hold SOL for gas. ### One USDT margin account SOL-USD shares one cross-margin account with BTC, ETH, gold, oil, forex and US stock perpetuals. ### Leverage with a size cap 200x applies to SOL-USD only for positions up to $50,000 notional. Above that size, maintenance margin rises and maximum leverage steps down. ## Open a SOL-USD position in three steps No Solana wallet, bridge or token approval: connect, deposit and trade. ### Connect a wallet Log in with your own wallet. EVEDEX has no traditional KYC; deposits pass automated AML screening. ### Deposit from 6 USDT Pick network, token and amount. The first deposit deploys your personal deposit contract on Arbitrum for about 0.1 USDT. ### Trade SOLUSD Choose long or short and set leverage. The minimum order is 5 USDT; funding is calculated every 8 hours and charged hourly. ## Why EVEDEX is not a Solana DEX A Solana DEX settles swaps on Solana; EVEDEX matches orders off-chain and settles on Arbitrum. On PumpSwap, Orca or Raydium you connect a Solana wallet, pay network fees in SOL and receive the SPL token itself. On EVEDEX you hold a SOL-USD contract that tracks the SOL price, pays or receives funding and can be liquidated if margin runs out. To own or stake SOL, use a Solana DEX; for leveraged long or short exposure, use the perpetual. ## Risk warning Perpetual futures carry a high risk of loss: at 200x on SOL-USD, a 0.5% move against you equals the initial margin, and cross margin puts your whole balance at risk. EVEDEX is not intended for UK retail clients. Not investment advice. ## Solana DEX and SOL-USD questions ### Is EVEDEX a Solana DEX? No. EVEDEX is a hybrid exchange for perpetual futures: orders are matched off-chain and settled on-chain on Arbitrum. It has no Solana wallet connection, no SPL tokens and no swaps. For Solana traders it offers a SOL-USD perpetual contract that tracks the SOL price, long or short. ### Which Solana DEX has the highest volume? In the 30 days to September 15, 2026, PumpSwap led direct DEX volume on Solana with $19.2 billion, followed by BisonFi with $8.8 billion, Orca with $7.4 billion and Raydium AMM with $6.6 billion, per DefiLlama. The Jupiter aggregator routed $16.0 billion through other pools. ### What fees do Solana DEXs charge? It depends on the pool. PumpSwap charges 0.30% to 1.25% depending on market cap, Raydium standard AMM pools 0.25%, and concentrated pools on Raydium and Orca start at 0.01%. SOL-USD fees on EVEDEX are capped at 0.015% maker and 0.045% taker before cashback. ### What is PumpSwap on Solana? PumpSwap is the decentralized exchange of pump.fun, where tokens trade in pools from a Solana wallet. Its fee runs from 0.30% to 1.25% depending on the token's market cap, and it led Solana DEX volume with $19.2 billion in the 30 days to September 15, 2026, per DefiLlama. ### Can I trade SOL with leverage without a Solana wallet? Yes, through a perpetual contract. On EVEDEX you log in with your own wallet, deposit crypto that routes through a personal deposit contract on Arbitrum and trade SOL-USD with USDT margin. Leverage reaches 200x only on positions up to $50,000 notional, and small moves can liquidate such positions. ### Can I swap SPL tokens on EVEDEX? No. EVEDEX has no spot trading and no swaps: all 52 pairs are perpetual contracts. A SOL-USD position gives you exposure to the SOL price, not SOL tokens, so it cannot pay Solana network fees or interact with Solana apps. ### How liquid is SOL-USD on EVEDEX? According to CoinGecko on September 15, 2026, the SOL-USD perpetual on EVEDEX had $30.6 million in open interest and $25.4 million in 24-hour volume. Across all 52 pairs, EVEDEX showed $678.6 million in open interest and $647.6 million in 24-hour volume that day. ### How does funding work on SOL-USD? Funding keeps the perpetual price close to the index price. EVEDEX calculates the funding rate every 8 hours and charges or credits one-eighth of it each hour. When the rate is positive, longs pay shorts; when it is negative, shorts pay longs. Check it before holding a position for days. ## Trade the SOL price without a Solana wallet SOL-USD perpetual on EVEDEX: long or short 24/7, up to 200x on positions up to $50,000 notional, fees capped at 0.015% maker and 0.045% taker before cashback, from 6 USDT. [Trade SOLUSD](https://exchange.evedex.com/en/trade/SOLUSD)