Top Solana DeFi DApps and DEX Guide

Solana's DeFi ecosystem offers high speed trading, lending, and staking with fees under $0.001 and TVL exceeding $11.5 billion as of late 2025. This guide compares the top 12 Solana DeFi DApps and DEXs, highlighting their strengths for swaps, yields, and liquidity to help you pick the best fit for your goals. From aggregators like Jupiter to liquid staking leaders like Kamino, each stands out in the Solana ecosystem for specific use cases.

Jupiter dominates Solana DEX swaps by routing across Raydium, Orca, and others for optimal prices, handling over $700 million daily volume. Its Ultra Mode V3 adds MEV protection with +0.006% slippage advantage. Acquisitions like SolanaFM enhance analytics and wallet tools.

Swap fees average 0.2% after routing, dropping with JUP token holdings for 25% discounts on volumes over $1,000 monthly. Limit orders execute at set prices without premium costs.

• Processes 65% of Solana swap volume for deepest liquidity.
• Integrates perpetuals and lending for one stop DeFi.
• High gas efficiency saves $0.0005 per trade versus direct DEXs.
• Beginner traps: Ignore unverified tokens to avoid rugs.
• Pro edge: Use DCA bots for automated entries.

Connect Phantom wallet first, enable Ultra Mode for trades over $500 to minimize impact. Watch for network congestion during memecoin pumps-queue orders early.

Kamino Finance Yield Optimizer

Largest TVL holder: Kamino locks $2.8 billion, automating concentrated liquidity on Solana DEXs with K Lend integration for lending up to 80% LTV. Vaults rebalance positions hourly for max fees.

Users stake KMNO for extra 5-10% rewards on top of 15-25% vault APYs during peaks. Borrow rates hover 8-12% on SOL collateral.

• 33% QoQ growth shows strong adoption.
• Gauntlet risk models prevent bad debt.
• Impermanent loss mitigated via automation.
• Larger deposits earn tiered boosts over $10K.
• Competition rising from Jupiter Lend.

Start with $100 test vaults; monitor via Kamino dashboard for auto compound triggers. Avoid over leveraging during volatility-cap at 50% LTV.

Raydium Concentrated Liquidity DEX

Raydium pairs AMM with Serum order book for tight spreads on SPL tokens, ideal for new launches. Liquidity providers concentrate ranges for 2-3x fee efficiency over uniform pools.

Trading fees sit at 0.25%, with 0.22% to LPs and creators getting 20% allocation. Daily volume exceeds $200 million on top pairs.

• Central limit order book cuts slippage 40%.
• Fusion farms yield 20-50% APY short term.
• Native token RAY unlocks governance votes.
• High activity risks MEV on large orders.
• Suits token deployers with zero migration fees.

For LPs, set ranges within 10% of current price to capture fees. Test small swaps on volatile pairs before full positions.

Orca Beginner Friendly DEX

How low are Orca fees? Standard pools charge 0.3%, whirlpools drop to 0.01-1% based on volatility, all mobile optimized for quick SPL trades. Fair Price Indicator flags bad routes upfront.

• CLAMM model boosts LP returns 1.5x.
• No KYC, instant deposits from any wallet.
• Volume based rebates for $50K+ monthly.
• Limited depth on niche tokens.
• Perfect mobile app for on the go swaps.

Aqua Farm pools add 10-30% bonuses-join early seasons. Beginners: Use Fair Price to confirm before $100+ trades.

Jito Liquid Staking Leader

Jito bundles MEV tips into JitoSOL, pushing APYs to 7-8% versus native 6.5% staking. TVL at $2.6 billion accepts it across most Solana DeFi for composability.

Stake any amount, unstake with 1-day delay or swap via Sanctum. No minimum, fees under $0.001 per action.

Strong validator decentralization with 50+ operators. TVL dipped 53% from peaks but rebounded on MEV demand. JitoSOL depegs rarely under 1%.

• MEV yield adds 1-2% edge.
• Widely integrated for lending boosts.
• Smart contract audits reduce risks.
• Market stress can widen pegs.

Stake during low network load for faster confirms. Pair JitoSOL with Kamino vaults for compounded 15%+ yields.

Sanctum LST Swapper

Sanctum's Infinity pool swaps LSTs like JitoSOL and mSOL, stacking APYs from base staking plus 2-4% swap fees. Largest LST infra with $1B+ in swaps processed.

• Interoperable across 10+ LSTs.
• Superior yields from multi source fees.
• TVL growth 40% in Q4 2025.
• Swap costs add 0.1-0.5% friction.
• Requires LST knowledge for best use.

Yield tiers: Hold $5K+ for priority swaps at half fee. Rotate LSTs quarterly to chase peaks.

Track peg stability during crashes-exit to native SOL if over 2% divergence.

Drift Protocol Perpetuals

Drift delivers 10x leverage on 50+ pairs with sub-400ms fills and 0.1% fees including funding rates under 0.02% daily. Integrated spot lending funds positions instantly.

FUEL points reward $10K+ volume with airdrop multipliers up to 5x.

• Low slippage on $1M orders.
• Cross margin across assets.
• Points system ended mid-2025 but legacy boosts linger.
• Liquidation risks amplify losses 10x.
• Phoenix edges it for pure order book.

Set stops at 20% drawdown max. Practice on testnet for leverage mechanics before live $500 positions.

Marinade Finance Staking

Marinade offers mSOL for instant liquidity on $1.8 billion TVL, with native staking fallback and unstaking in hours. Yields track 7% with delegation to top validators.

Flex option unbond anytime for 5% bonus APY short term.

No lockups, usable in DEXs immediately. Security via 100+ auditors.

• Liquid staking without depeg worries often.
• Instant access beats 2-epoch waits.
• Market fluctuations hit mSOL value.
• User friendly for SOL holders.
• Contracts carry protocol risks.

Delegate to high uptime nodes via dashboard. Combine with Raydium for LP yields doubling base staking.

Solend Lending Market

Solend's algorithmic rates adjust real time: Borrow SOL at 5-15% APY, supply earns 4-12% on $500 million markets. Flash loans free for arbitrage under $1M.

• 20+ collateral types including LSTs.
• Isolation mode for risky assets.
• High LTV up to 90% on stables.
• Rate spikes during demand peaks.
• Overcollateralization protects lenders.

Pro tip: Supply during low utilization for steady 8%+. Monitor oracle feeds to avoid bad debt.

Marginfi Savings Protocol

Each deposit earns up to 12% APY on USDC or SOL, with borrow rates 1% above for 75% LTV. No minimums, instant withdrawals.

Risk engine caps exposure per asset at 20% of TVL.

• Real time APY dashboard.
• Integrated with Jupiter for loops.
• Simple UI beats complex rivals.
• Lower yields than vaults.
• Growing to $800M TVL.

Loop borrows for 20% effective yields on $1K starters. Set alerts for rate changes over 2%.

Phoenix Order Book DEX

Phoenix charges makers 0.04%, takers 0.08% on central limit order book, executing $100M daily with 0.01% slippage on BTC SOL. Keeper network ensures fills under 1 second.

Custom order types like TWAP for $50K+ trades.

Pros outpace AMMs for pros needing precision.

• Zero gas on cancels.
• Deep order book liquidity.
• Sophisticated tools for algos.
• Steep learning curve.
• Fewer pairs than aggregators.

Use for limit orders over $10K-avoid markets during low depth. Integrate bots via API for volume rebates.

Save Finance Passive Lending

Save keeps it simple: Deposit SOL for 4-8% stable APY, borrow at fixed premiums. TVL at $400 million focuses on undercollateralized safety.

Weekly payouts, no performance fees.

• Beginner yields without vaults.
• Instant loans up to 50% LTV.
• Consistent rates beat volatiles.
• Smaller scale limits pairs.
• Growing integrations.

Ideal for HODLers-auto compound via dashboard. Diversify across 3+ protocols for 10% blended yields.

Understanding Solana DeFi Metrics

TVL measures locked value, like Kamino's $2.8 billion signaling trust, but check borrow APYs for real yields. Impermanent loss hits LPs when prices shift 10%+ outside ranges-concentrated pools on Raydium minimize it to 2-5%.

• APY factors base staking (6.5%), fees (0.2-1%), rewards (10-50% seasonal).
• Slippage worsens over 1% trade size without aggregators like Jupiter.
• LTV ratios cap borrows: 80% safe, 90% risky on Solend.
• MEV boosts Jito yields but exposes to sandwich attacks-use protected routers.
• Peg stability for LSTs; 1% divergence triggers swaps on Sanctum.

Common Questions on Solana DEXs and DApps

Are Solana DeFi fees always under $0.001? Yes, even peaks hit $0.002 with 400ms finality post Firedancer. How to spot rugs? Check liquidity locks over 6 months and dev wallet sells under 5% supply.

• Jupiter best for swaps? Yes, 0.006% slippage edge.
• Lending safe? Use oracles like Switchboard; diversify collateral.
• Mobile trading viable? Orca and Phantom shine here.
• Staking locked? LSTs like mSOL keep it liquid.

TVL growth to $11.5 billion shows maturity, but audit histories matter-Jito and Kamino lead with multiple reviews.

Actionable Tips for Solana DeFi Success

1. Fund Phantom or Backpack wallet with 0.1 SOL for gas; bridge via Wormhole for under $0.01 fees.
2. Test small: Swap $50 on Jupiter to verify routing before $1K positions.
3. Enable MEV protection on all trades-saves 0.1-0.5% on average.
4. Diversify: 40% staking (Jito), 30% lending (Kamino), 30% DEX LP (Raydium).
5. Monitor via Dexscreener for volume spikes; enter farms under 24 hours old.
6. Set leverage caps at 3x on Drift; use stops at 5% drawdown.
7. Rotate LSTs quarterly on Sanctum for 2% APY uplift.
8. Claim rewards weekly-auto compound via vaults cuts manual txs 80%.
9. Audit integrations: Stick to top 10 by TVL for security.
10. Exit during bear markets: Unstake LSTs to native SOL for peg safety.