How to Trade Perpetuals on Drift (Solana): Step-by-Step Guide

Before you trade

Perpetual futures use leverage — losses are amplified and positions can be liquidated automatically. Drift on Solana offers fast execution but the same fundamental risks as any perp exchange. Only use capital you can afford to lose entirely.

Step-by-step: First Drift trade

1. 01

   Open app.drift.trade

   Connect Phantom, Backpack, or another Solana wallet. Drift uses your wallet address as your account — no separate signup.

2. 02

   Deposit USDC margin

   Click Deposit and transfer USDC from your wallet into Drift's program. This USDC collateralises all your open positions.

3. 03

   Select a market

   Choose SOL-PERP or BTC-PERP for deepest liquidity. Review mark price, funding rate, and open interest.

4. 04

   Place your order

   Select Long or Short. Use Market for instant fill or Limit for a specific price. Set leverage (start low). Enter position size in USD. Confirm liquidation price before submitting.

5. 05

   Manage and close

   Monitor unrealised PnL and funding payments on Positions. Close via Market or Limit order. Withdraw remaining USDC from the Withdraw tab.

Drift vs Jupiter Perps

Drift uses an order book (DLOB) — better for limit orders and tighter spreads on majors. Jupiter Perps uses a JLP pool model integrated into the Jupiter swap interface. Active traders often prefer Drift; Jupiter users who want perps without leaving the aggregator use Jupiter Perps.