# Solana Perps: open interest, volume and hourly rates across Solana perpetual venues

Solana perpetuals trade on two designs. On a pool-backed venue such as Jupiter or GM Trade, a liquidity pool takes the other side of every trade: open interest is capped by what the pool holds, and traders pay the pool an hourly borrow fee (Jupiter) or a funding rate that follows the pool's long and short imbalance (GM Trade). On an order book such as Pacifica, Phoenix or Bullet, longs match shorts and the crowded side pays the other an hourly funding rate; Velocity, the Drift relaunch, pairs an order book with a vAMM backstop. This board reads Jupiter, Pacifica, Phoenix, GM Trade, Velocity and Bullet every 10 minutes and puts open interest, 24h volume and the hourly rate side by side, market by market.

Source: https://bykaranteli.com/solana-perps · attribute to ByKaranteli and quote the timestamp.
Snapshot taken 2026-11-15T17:11:40.932Z.

Coverage: Venues contributing: 6 of 6 · all fresh · as of 17:11 UTC.

6 venues, 295 markets; open interest $169.2M (one-sided), 24h volume $1.57B.

| Venue | Open interest (USD) | 24h volume (USD) | Markets | Rate | Median rate per hour (%) |
| --- | ---: | ---: | ---: | --- | ---: |
| GM Trade (GMX Solana) | $74.3M | $117.7M | 70 | funding | 0.0000 |
| Pacifica | $45.3M | $280.2M | 78 | funding | 0.0013 |
| Jupiter Perps | $32.7M | $1.12B | 3 | borrow | 0.0014 |
| Phoenix | $13.5M | $39.2M | 109 | funding | n/a |
| Bullet | $3.2M | $16.9M | 30 | funding | 0.0100 |
| Velocity (Drift) | $195.3K | $336.3K | 5 | funding | -0.0015 |

Largest markets by open interest:

| Venue | Market | Type | Mark (USD) | Open interest (USD) | 24h volume (USD) | Rate per hour (%) |
| --- | --- | --- | ---: | ---: | ---: | ---: |
| Jupiter Perps | SOL-PERP | perpetual | 71.50182902 | $19.4M | $529.2M | 0.0015 |
| Pacifica | BTC | perpetual | 64774 | $15.3M | $145.7M | 0.0004 |
| Pacifica | ETH | perpetual | 1816.8 | $12.4M | $94.5M | 0.0010 |
| GM Trade (GMX Solana) | USDJPY | fx | 159.706 | $9.9M | $0 | -0.0000 |
| Jupiter Perps | BTC-PERP | perpetual | 64761.86179243 | $9.3M | $167.2M | 0.0014 |
| GM Trade (GMX Solana) | AUD | fx | 0.6772 | $8.4M | $0 | -0.0014 |
| GM Trade (GMX Solana) | GBP | fx | 1.3213 | $8.3M | $0 | -0.0014 |
| GM Trade (GMX Solana) | USDCHF | fx | 0.8389000000000001 | $8.3M | $0 | 0.0011 |
| GM Trade (GMX Solana) | USDMXN | fx | 18.5374 | $8.3M | $0 | -0.0001 |
| GM Trade (GMX Solana) | EUR | fx | 1.1022925 | $7.4M | $0 | -0.0027 |

## Related

- https://bykaranteli.com/jupiter-perps
- https://bykaranteli.com/oi-leaderboard
- https://bykaranteli.com/funding-arb

Everything in one fetch: https://bykaranteli.com/llms-full.txt