Learn how to use Drift Protocol on Solana—perpetuals, spot margin, lending, fees, leverage, and safety features. Beginner-friendly, factual guide for traders.
About Drift Protocol
Drift Protocol is a Solana-native decentralized exchange (DEX) built for derivatives and spot trading. It combines a decentralized limit order book with a backstop AMM and an auction-based liquidity system to provide deep, fast, and transparent execution entirely on-chain. Traders can open perpetual futures, swap spot tokens, or run cross-margin strategies from a single, unified account.
On Drift Protocol, collateral deposited to your account powers everything—perps, spot margin, and lending/borrowing—so capital stays productive while you trade. The protocol’s risk engine, insurance fund, and audits are designed to help contain counterparty and liquidation risk, while advanced order types (market, limit, post-only, reduce-only, TP/SL) give you the controls you expect from a pro venue. You can connect a Solana wallet or use passwordless login via Magic to get started quickly.
Drift Protocol supports high-leverage perpetuals on select markets (with dedicated “High Leverage Mode” slots) and standard leverage across a broad set of pairs. Funding rates, borrow interest, fees, and health metrics are all surfaced in-app to keep positions manageable for beginners and advanced traders alike.
What makes Drift Protocol special?
Drift Protocol stands out for blending three liquidity sources—order book, AMM, and just-in-time auctions—so takers see consistent execution while makers can compete for flow. This architecture is purpose-built for Solana’s low-latency environment and is paired with a matching engine and DLOB aggregator that run entirely on-chain.
Capital efficiency is another core differentiator. Your deposits serve as cross-collateral for perps, spot margin, and borrowing, and you can lend idle balances for yield without leaving the venue. Maker orders may earn rebates on eligible markets, and fees are disclosed per market and order type. Drift Protocol also offers passwordless onboarding (via Magic) alongside standard Solana wallets—useful for new users who want a quick start.
Pricing
Discover the pricing options available for Drift Protocol
Free
Drift Protocol has no subscription; you pay network fees (Solana gas) plus trading fees:
Perps & spot: taker/maker fees apply; maker orders can receive rebates on eligible markets (e.g., up to 3–3.5 bps in the top maker tier). Some stable spot pairs use a 2 bps schedule. Exact fees are shown in the app per market and tier.
Perpetuals funding: periodic funding payments flow between longs and shorts.
Borrowing: variable interest accrues on borrowed assets.
Liquidations: liquidation penalties/fees may apply if account health falls below maintenance.
If a price or fee isn’t listed here, it wasn’t verifiable in docs and should be confirmed in-app.
How to get started
A quick, beginner-friendly path to trading on Drift Protocol.
1
Connect a wallet or use passwordless login
2 minutes
Easy
Visit the app and connect a Solana wallet or start with Magic’s passwordless option.
2
Deposit collateral
2 minutes
Easy
Add USDC, SOL, or supported assets to your Drift Protocol account. Deposits power perps, spot, and borrowing via cross-collateral.
3
(Optional) Supply to Lend & Borrow
5 minutes
Intermediate
If you want idle balances to earn yield, supply them in the lending page; you can still trade using the same collateral base.
4
Configure trading preferences
5 minutes
Intermediate
Choose cross/isolated margin, set slippage, and enable TP/SL. Review market specs and your initial/maintenance margin before sizing.
5
Place your order
5 minutes
Intermediate
Use market or limit orders (post-only/IOC/FOK as needed). Monitor funding (perps), borrow rates, and account health as positions evolve.
Frequently Asked Questions
Get answers to the most common questions about this tool
What is Drift Protocol?
Drift Protocol is a decentralized exchange (DEX) built on the Solana blockchain, offering on-chain perpetual and spot trading. It enables users to trade various assets directly from their wallets without relying on centralized intermediaries.
How does Drift Protocol work?
Drift operates using an automated market maker (AMM) model, allowing users to trade assets by interacting with smart contracts on the Solana network. This setup ensures transparency and security in all transactions.
What features does Drift Protocol offer?
Perpetual Futures Trading: Trade perpetual contracts with leverage.
Spot Trading: Directly exchange one cryptocurrency for another.
Yield Generation: Earn yield by depositing assets as collateral.
Cross-Margining: Use multiple assets as collateral to manage risk.
Prediction Markets: Participate in markets based on real-world events.
What assets can I trade on Drift Protocol?
Drift supports a variety of assets, including major cryptocurrencies like SOL, BTC, and ETH, as well as other tokens available within the Solana ecosystem.
Is Drift Protocol secure?
Drift Protocol has undergone audits by reputable security firms to ensure the safety and integrity of its platform. However, as with all DeFi platforms, users should exercise caution and conduct their own research.
Has Drift Protocol been audited?
Yes. Multiple firms (including Trail of Bits and OtterSec) have audited Drift Protocol; reports are published for review.
Which order types are supported?
Market, limit, post-only, IOC, FOK, reduce-only, plus take-profit and stop-loss triggers.
