Solana’s perpetual futures trading volume hit $147 billion in the second quarter of 2026, a record for the network. The Q2 figure contributes to a staggering $255.6 billion in total perps volume across Solana venues during the first half of 2026. That represents a 57.1% increase year-over-year, compared to Hyperliquid’s 6.4% expansion over the same period.
The protocols driving the surge
Two names keep showing up when you trace the volume: Drift Protocol and Jupiter Perps.
Drift operates a hybrid model combining a central limit order book (CLOB) with a virtual automated market maker (vAMM), blending the precision of traditional exchange-style order matching with the always-on liquidity that DeFi is known for.
Jupiter Perps, built on top of Solana’s largest aggregator, benefits from the massive existing user base that already routes swaps through Jupiter’s interface.
