Drift
Verdict: Best choice for power users who want perps trading and margin lending in a single account.
- Best for
- Perps trading + margin lending
- TVL
- $342M TVL
- APY
- Variable (lending rates)
- Founded
- 2021
On This Page
Overview
Drift Key Features
Perpetual contracts
Up to 20x leverage on SOL, ETH, BTC, and 15+ other assets.
Cross-margin account
Single account for perps trading and lending/borrowing. Profits from one position offset losses in another.
Borrow/Lend markets
Supply USDC, SOL, or other assets to earn interest. Borrow against deposited collateral.
Insurance fund
Protocol insurance pool that backstops bad debt from liquidations.
Drift Fees & Pricing
| Fee | Value | Notes |
|---|---|---|
| Perp taker fee | 0.1% | Fee on market orders for perpetual contracts. |
| Perp maker fee | 0.02% rebate | Maker rebate for limit orders that add liquidity. |
| Spot swap fee | 0.1% | Fee on spot trading. |
| Lending interest | Variable | Rates determined by utilization. Typical SOL borrow rate: 2-5%. |
Ready to try Drift?
Get Started →How to Get Started with Drift
- 1
Connect wallet
Visit drift.trade and connect your Solana wallet. - 2
Deposit collateral
Deposit USDC, SOL, or other supported assets into your margin account. - 3
Trade perps
Select a market (e.g., SOL-PERP), choose leverage (1-20x), and place your order. - 4
Monitor positions
Track P&L, health factor, and funding rates. Close positions before liquidation.
Drift Risk Assessment
Liquidation risk
highLeveraged positions can be liquidated if collateral drops below maintenance margin. High leverage amplifies losses.
Smart contract
mediumAudited by Ottersec. $341M TVL, no major exploit but complex cross-margin logic increases attack surface.
Funding rate risk
mediumPerps positions pay/receive funding rates every hour. Sustained directional positions can accumulate significant funding costs.
What Can You Do with Drift?
Leveraged trading
Trade SOL, ETH, BTC perps with up to 20x leverage from a single margin account.Delta-neutral yield
Supply USDC to the lending pool while hedging with short perps for yield without directional exposure.Cross-margin efficiency
Use deposited collateral for both lending and perps simultaneously.
Drift: Pros & Cons
Pros
- Unified margin account (perps + lending)
- Deep SOL perp liquidity
Cons
- Complex for beginners
- Liquidation risk on leveraged positions
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