Last updated: July 2026
Compare · Solana DEXs
10 Solana DEXs across every AMM model — aggregators, CLMM, DLMM, on-chain orderbooks, stableswaps. TVL, fees, perps, launchpads, mobile support — all side-by-side.
TVL figures are market-data approximations and change continuously · feature flags verified against each DEX's current docs
The lineup
What's in this comparison.
All major venues
Approx., this set
Aggregator → CLOB
Token-launch built in
The table
Sort by TVL, fees, or feature breadth. Click any DEX to read the full review and live health score.
Solana's dominant DEX aggregator and DeFi superapp
Solana's largest native AMM with LaunchLab for token launches
Dynamic liquidity with DLMM bins and bonding curve launchpad
Clean concentrated liquidity (Whirlpools) with best-in-class LP UX
pump.fun's native DEX dominating memecoin trading volume
Specialized stablecoin AMM with hub-and-spoke architecture
Fastest fully on-chain orderbook with instant settlement
Oracle-based proactive market maker with protocol-owned liquidity
Fully decentralized on-chain orderbook with zero protocol fees
Feature guide
Routes trades across multiple DEXs to find the best price. Jupiter is Solana's primary aggregator.
LPs set custom price ranges for higher capital efficiency. Used by Orca and Raydium.
Meteora's bin-based model with dynamic fees that adjust to market volatility.
Central limit order book matching buyers and sellers directly. Used by Phoenix and OpenBook.
Dollar-cost averaging — automated recurring purchases at fixed intervals to reduce timing risk.
Built-in launchpad for creating and launching new tokens (bonding curves, launch pools).
How it works
Every venue above sits in one of these designs — and the design, more than the brand, decides your price, slippage, and LP returns.
Constant-product AMM
The classic pool holds two token reserves and keeps their product constant, so every trade moves price along a curve — bigger trades get worse prices (slippage). Liquidity is spread evenly across all prices from zero to infinity. PumpSwap and most basic pools use this model.
CLMM
A Concentrated Liquidity Market Maker lets LPs deposit into a chosen price range instead of the whole curve, so capital sits where trading actually happens — far deeper liquidity per dollar and tighter spreads. Orca's Whirlpools and Raydium's CLMM pools work this way; positions earn fees only while price is in range.
DLMM
Meteora's Dynamic Liquidity Market Maker slices the price axis into discrete bins; liquidity in the active bin trades with zero slippage, and a dynamic fee rises with volatility. LPs shape their distribution across bins, which suits volatile memecoin pairs.
On-chain orderbook (CLOB)
A Central Limit Order Book matches resting buy and sell orders directly, like a traditional exchange — no bonding curve, no LP pool. Phoenix and OpenBook keep the full book on-chain, giving makers precise limit-order control and takers price-time priority.
Aggregator routing
An aggregator like Jupiter doesn't hold liquidity. It scans every AMM, CLMM, DLMM, and orderbook, then splits a single trade across the venues that together give the best net price — often routing one swap through several pools at once, at a 0% platform fee.
Settlement
Whatever the design, a swap is one signed Solana transaction: the program debits your input token, runs the pool or order-match math, and credits the output atomically. If the price moves past your slippage limit before it lands, the transaction reverts instead of filling at a worse rate.
Guide
Solana's DEX ecosystem is the most diverse in crypto. Your pick depends on whether you're swapping, providing liquidity, trading perps, or launching a token.
AMM type
Aggregators (Jupiter) find the best price. CLMM (Orca, Raydium) is capital-efficient for LPs. DLMM (Meteora) has dynamic fees. CLOB (Phoenix, OpenBook) gives precise order control.
TVL
Higher TVL generally means deeper liquidity and lower slippage. Jupiter routes across all liquidity, while native AMMs hold their own pools.
Fees
Jupiter charges 0% platform fee. Native AMMs typically charge 0.01–1% depending on the pool. Lower fees matter more at high frequency.
Advanced features
Limit orders, dollar-cost averaging, and perpetual futures are available on a subset of DEXs. If you need these, check the table.
Token launches
If you're launching a token, Raydium (LaunchLab), Meteora (DBC), and PumpSwap (pump.fun) each offer different launch models.
Aggregation
For most users, hitting Jupiter first makes sense — it aggregates everyone else, so you always get the best route.
Recommendations
Casual swaps
Aggregates prices across every DEX — you always get the best rate at 0% platform fee. Has a built-in DCA feature for averaging into positions.
Providing liquidity
Orca has the best LP UX with Whirlpools — see our Whirlpools guide. Meteora offers DLMM bins with dynamic fees that adapt to volatility.
Perpetual trading
Jupiter offers up to 100× leverage on SOL, ETH, WBTC. Raydium ships perps via Orderly with up to 50×. See our perp DEX comparison.
Memecoin trading
Dominates memecoin volume as pump.fun's native DEX. Tokens graduate from the bonding curve directly to PumpSwap with zero migration fees.
FAQ
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