Drift vs Phoenix: which perp DEX is better?
A side-by-side comparison of Drift and Phoenix on fees, leverage, volume, chain and token.
| Drift | Phoenix |
|---|
| 24h volume | $280M | $45M |
| Maker fee | -0.5 bps | n/a |
| Taker fee | 4 bps | n/a |
| Max leverage | 20x | 25x |
| Model | Orderbook | Orderbook |
| Chain | Solana | Solana |
| Token | $DRIFT | No token |
| Assets | Crypto | Crypto, Commodities, Stocks |
Drift vs Phoenix: which should you choose?
If your priority is cost, Drift wins on taker fees (4 bps). For maximum leverage, Phoenix goes up to 25x. For depth and liquidity, Drift trades the most volume of the two.
Drift runs a orderbook on Solana, while Phoenix runs a orderbook on Solana. Read the full profiles: Drift and Phoenix.
FAQ
- Is Drift or Phoenix cheaper?
- Drift has the lower taker fee (4 bps vs n/a). Funding rates also affect total cost, so check both before trading.
- Which has higher leverage, Drift or Phoenix?
- Phoenix offers more, up to 25x, versus 20x. Higher leverage means higher liquidation risk.
- Which is bigger, Drift or Phoenix?
- Drift has more listed 24h volume ($280M), which usually means deeper liquidity and less slippage.
More comparisons
Not financial advice. Volume figures are compiled from each venue's public data on our
live rankings and may lag; fees, leverage and token status are curated and can change. Always verify on the exchange before trading. Perpetual futures are high risk and leverage can liquidate your position.