Kamino Finance vs Orca: Quick Compare (2026)
Kamino Finance is a lending platform rated 9.2/10 with $2.19B TVL, best for Lending, LST collateral, leveraged staking. Orca is a dex platform rated 8.5/10 with $267M TVL, best for CLMM liquidity provisioning.
Need a deeper breakdown? Use editorial comparison pages and full platform reviews before you decide.
Head-to-Head Comparison
| Feature | Kamino Finance | Orca |
|---|---|---|
| Rating | 9.2/10 | 8.5/10 |
| TVL | $2.19B | $267M |
| APY | 15–30% | Varies by pool |
| Best for | Lending, LST collateral, leveraged staking | CLMM liquidity provisioning |
| Not best for | Not ideal for users who want simple, passive staking — Kamino's Multiply and leveraged strategies carry liquidation risk. Users who don't monitor positions actively can lose capital during rapid SOL price drops. | Not ideal for traders who want perps, limit orders, or DCA — Orca is a pure spot DEX. Users seeking maximum yield should compare Orca Whirlpool returns against Meteora DLMM and Raydium CLMM before committing liquidity. |
| Founded | 2022 | 2021 |
Fees Comparison
Kamino Finance Fees
| Fee | Value |
|---|---|
| Lending spread | ~0.5-1% |
| Multiply fee | 0.1% |
| Vault management fee | 10% of yields |
| Withdrawal fee | None |
Orca Fees
| Fee | Value |
|---|---|
| Pool fee tiers | 0.01% / 0.05% / 0.3% / 1% |
| No protocol fee on swaps | 0% |
Pros & Cons
Kamino Finance
Pros
- #1 Solana lending protocol by TVL ($2.19B)
- Multiply: leverage JitoSOL/mSOL up to 3x
- Auto-managed CLMM vaults with auto-compounding
Cons
- Complex product surface area
- Multiply positions carry liquidation risk
Orca
Pros
- Best-in-class CLMM UX
- Multiple fee tiers (0.01%, 0.05%, 0.3%, 1%)
Cons
- Lower TVL than Jupiter or Raydium
When to Choose Kamino Finance
Best for: Lending, LST collateral, leveraged staking
Honest limitation: Kamino's $2.19B TVL makes it systemically important to Solana DeFi, which means a Kamino exploit would have cascading effects. The Multiply product uses leveraged positions that amplify both gains and losses.
When to Choose Orca
Best for: CLMM liquidity provisioning
Honest limitation: Orca's concentrated liquidity (Whirlpools) requires active range management. Passive LPs who set-and-forget will underperform compared to actively managed positions or simple staking.