Raydium Launches Perpetual Futures Trading on Solana with Zero Gas Fees

Raydium, the third-largest decentralized finance (DeFi) protocol on the Solana blockchain, has introduced a public beta for perpetual futures trading via the Orderly Network.

This new offering provides users with the opportunity to trade over 70 different pairs, with leverage of up to 40x, all without incurring gas fees. During the beta phase, Raydium is also offering 0% maker fees and 0.025% taker fees.

With a total value locked (TVL) of $2.2 billion, Raydium holds a solid position in Solana’s DeFi ecosystem, following behind only Jito and Jupiter, according to DeFiLlama.

The platform’s new move into the perpetual futures space is timely, as decentralized exchanges (DEXs) offering perpetual products have experienced significant trading activity, with over $650 billion in trading volume and $490 million in fees, according to data from Dune.

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Raydium now enters a competitive space, vying against established players like Hyperliquid, which currently holds a dominant 46.3% market share in perpetual trading. Other platforms, such as Arkham, have also ventured into perpetual and spot trading products, further intensifying the competition.

The launch of this feature taps into Solana’s high-performance, low-cost infrastructure, enhancing Raydium’s ability to provide users with cross-chain liquidity and the potential for comprehensive derivatives trading.

Alexander Zdravkov