DEX comparison · updated Oct 18, 2026
JupitervsRaydium
Solana's best-price aggregator versus the AMM that often supplies the very liquidity it routes to.
At a glance
Higher 24h volume
Jupiter
$270.9M
Lower taker fee
Jupiter
0.07%
Deeper liquidity (TVL)
Jupiter
$1.85B
Longer track record
Roughly even
2021 vs 2021
dexwatch score
Jupiter
85/100
Full comparison
Every figure is a dated snapshot from public sources (Oct 18, 2026); fields without a verifiable source show n/a. “Best” marks the stronger value in a row — higher volume or liquidity, lower fees, longer track record. Max leverage is shown as information, not a positive.
| Exchange | $JUP ★★★★★★★★★★85/100Excellent | $RAY ★★★★★★★★★★73/100Solid |
|---|---|---|
| Type | Spot Aggregator + Perps | Spot DEX (AMM) |
| Chains | Solana | Solana |
| 24h volume | $270.9MBest | $100.9M |
| 7d volume | $3.18BBest | $1.20B |
| Total value lockedLiquidity depth | $1.85BBest | $1.17B |
| Open interest | $38.8M | n/a |
| Token price | $0.281 | $1.76 |
| 24h change | 5.51% | 3.12% |
| Market cap | $932.5M | $475.0M |
| Maker feeNegative = rebate | 0% | 0% |
| Taker feeLower is cheaper | 0.07%Best | 0.25% |
| Max leverageHigher = riskier | 20× | — |
| Trading pairs | 1,200 | 4,200Best |
| LaunchedLonger track record | 2021 | 2021 |
| Security scoredexwatch estimate | 84/100Best | 80/100 |
| Audits | OtterSecSec3 | OtterSecKudelski |
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The honest take
Jupiter
✓By far the most active user base in DeFi (~1.8M monthly addresses)
✓Always routes you to the best available price on Solana
✓Clean, approachable interface — a great first DeFi app
✕Solana-only — no cross-chain trading
✕Its perps product is younger than the spot swaps
Raydium
✓Where most new Solana tokens get their liquidity
✓Fast, cheap swaps with a big user base
✓Yield farms for liquidity providers
✕Spot only
✕Lots of risky brand-new token pairs to navigate
Jupiter vs Raydium FAQ
Which has higher trading volume, Jupiter or Raydium?
Jupiter — about $270.9M in the last 24 hours versus $100.9M on Raydium. Figures are a dated snapshot (Oct 18, 2026) and move constantly.
Is Jupiter or Raydium cheaper to trade?
Jupiter lists the lower headline taker fee (0.07% versus 0.25%). Your real cost also depends on network gas, maker rebates, spreads and price impact on the size you trade.
Which has deeper liquidity, Jupiter or Raydium?
Jupiter holds more total value locked ($1.85B versus $1.17B), a rough proxy for how much size a market can absorb.
Which offers higher leverage, Jupiter or Raydium?
Jupiter allows up to 20×; Raydium is a spot venue with no leverage.
What's the main difference between Jupiter and Raydium?
Jupiter is a spot aggregator + perps on Solana, while Raydium is a spot dex (amm) on Solana. Match the venue to the chain and assets you actually use.
What are perpetuals & perp DEXes?Leverage risk & liquidationFunding rates: the hidden cost of holding a perpperpetualleveragefunding rate
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