DEX comparison
PancakeSwapvsRaydium
Two high-volume, low-fee AMMs on different chains: BNB Chain's flagship against Solana's core venue.
At a glance
Higher 24h volume
PancakeSwap
$1.80B
Lower taker fee
Roughly even
0.25% vs 0.25%
Deeper liquidity (TVL)
PancakeSwap
$2.18B
Longer track record
PancakeSwap
since 2020
dexwatch score
PancakeSwap
78/100
Full comparison
Every figure is an approximate snapshot from public trackers. “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 | $CAKE ★★★★★★★★★★78/100Solid | $RAY ★★★★★★★★★★76/100Solid |
|---|---|---|
| Type | Spot + Perp | Spot DEX (AMM) |
| Chains | BNB ChainEthereumBaseArbitrum+1 | Solana |
| 24h volume | $1.80BBest | $1.10B |
| 7d volume | $11.00BBest | $7.40B |
| Total value lockedLiquidity depth | $2.18BBest | $1.60B |
| Token price | $2.60 | $2.90 |
| 24h change | 0.50% | 5.20% |
| Market cap | $820.0M | $820.0M |
| Maker feeNegative = rebate | 0% | 0% |
| Taker feeLower is cheaper | 0.25% | 0.25% |
| Max leverageHigher = riskier | 50× | Spot only |
| Trading pairs | 6.1KBest | 4.2K |
| LaunchedLonger track record | 2020Best | 2021 |
| Security scoredexwatch estimate | 83/100Best | 80/100 |
| Audits | CertikPeckShieldSlowMist | OtterSecKudelski |
Affiliate links are marked and may earn dexwatch a commission at no extra cost to you. Educational content only — not financial advice.
Want a different matchup?
Open this in the live tool and add up to four DEXes.
PancakeSwap vs Raydium FAQ
Which has higher trading volume, PancakeSwap or Raydium?
PancakeSwap — about $1.80B in the last 24 hours versus $1.10B on Raydium. Figures are an approximate snapshot and move constantly.
Is PancakeSwap or Raydium cheaper to trade?
Both list the same headline taker fee of 0.25%. Your real cost also depends on the network gas, maker rebates and price impact on the size you trade.
Which has deeper liquidity, PancakeSwap or Raydium?
PancakeSwap holds more total value locked ($2.18B versus $1.60B), a rough proxy for how much size a market can absorb.
Which offers higher leverage, PancakeSwap or Raydium?
PancakeSwap allows up to 50×, versus spot only on Raydium. Higher leverage multiplies losses as fast as gains — it is information, not an advantage.
What's the main difference between PancakeSwap and Raydium?
PancakeSwap is a spot + perp on BNB Chain, Ethereum, Base, while Raydium is a spot dex (amm) on Solana. One focuses on leveraged perpetuals, the other on spot swaps — so the right pick depends on what you want to trade.
What are perpetuals & perp DEXes?Leverage risk & liquidationDEX trading fees: maker/taker & pool feeperpetualleveragefunding rate
More comparisons