As I already wroted articles on the best DEX (Decentralized Exchanges) that I have used so far on Ethereum, L2s and other EVM (Ethereum Virtual Machine) compatible blockchains, I will this time talk about the best DEX on Solana (SOL).
To start, it should be noted that DefiLlama meta-DEX aggregator, that I used for the other chains, is not available for Solana.
Therefore, I tried two different solutions to swap 1 SOL into USDC:
- Phantom wallet swap: 1 SOL = 21.3129 USDC
- Jupiter aggregator: 1 SOL = 21.569077 USDC
As Jupiter is an aggregator, they propose to make this swap through Orca DEX, and using Orca directly (and not through Jupiter) gives the same result.
Furthermore, the advantage of Solana is that there are almost no gas fees. There are only trade fees of 0.05% for Orca.
On top of that, Orca systematically compares the prices with CoinGecko: in the example above, they are 0.11% cheaper than CoinGecko.
To conclude, Orca seems to be the best DEX on Solana, and Phantom the worst one. To double-check the best trades, Jupiter aggregator can be used.