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Drift vs Hyperliquid

How Drift and Hyperliquid differ on chain, volume, fees and model.

DriftHyperliquid
TypeSolana perp DEXPerp L1 (own chain)
ChainSolanaHyperliquid L1
How it worksA Solana-native perps venue combining an order book with JIT and AMM liquidity, reaching up to 101x on select markets, tightly integrated with Solana DeFi.A purpose-built Layer 1 (HyperBFT consensus) running a fully transparent on-chain CLOB with sub-second matching. 180+ perp markets plus spot HIP-1 tokens; taker 0.035% with maker rebates.
Scale*Solana leader~$248B/mo · #1
Max leverageup to 101xup to 40x
Best forSolana perps with high leverageThe deepest, fastest on-chain perps

Drift

  • Leading Solana perp DEX
  • High leverage (up to 101x)
  • Deep Solana DeFi integration
  • Solana-only
  • Hybrid model (not pure CLOB)

Hyperliquid

  • #1 by volume & liquidity
  • Fully on-chain transparent order book
  • ~200k orders/sec, sub-second matching
  • Share compressing from ~80% peak
  • Own L1 (bridge to enter/exit)

Bottom line

Pick Drift for solana perps with high leverage; pick Hyperliquid for the deepest, fastest on-chain perps.

* Volume/TVL = dated snapshot (DefiLlama + venue reports, 2026).