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Velocity review

Solana perpetual futures exchange forked from Drift v2, settled in USDT, with crypto and equity perps.
PerpsNot checked yetFacts checked 24 Oct 2026 · How we check
Pricing model
Fee on use
Fee per trade
0.06%
Custody
Your wallet signs
Open source
No

What it does

Velocity is a Solana perpetual futures exchange and the successor to Drift: a fork of Drift Protocol v2 deployed as a new program, so Drift accounts and balances do not carry over. It offers crypto and equity perps on one cross-margin account settled in USDT. Takers pay 6 bps on the major markets under $5 million of 30-day volume, falling to 2 bps above $200 million, and makers earn a flat 0.25 bps rebate. Trading is self-custodial: a connected Solana wallet signs every deposit, order and withdrawal. OtterSec audited the post-fork program in 2026; the program source is not public yet.

Who it is for: Traders who want perpetual futures on Solana, including former Drift users.

Details

Referral program
Yes
Fees
Taker fee of 6 bps (0.060%) under $5M 30-day volume, falling to 5, 4 and 2 bps at higher tiers; makers earn a flat 0.25 bps rebate. Baseline rates for SOL, BTC and ETH perps and admin-settable.

On-chain safety

Audit report
Link
Audited
Yes
Program ids
vELoC1audYbSYVRXn1vPaV8Axoa9oU6BYmNGZZBDZ1P, vAuLTsyrvSfZRuRB3XgvkPwNGgYSs9YRYymVebLKoxR
Upgrade authority
Multisig
Upgradeable program
Yes
Verified build
No

Website status

Not checked yet
Last 30 days
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30 days agoToday
Uptime
No data yet

Good at

  • Self-custodial: your wallet signs every action
  • Post-fork OtterSec audit with every High finding fixed in the deployed code
  • Low taker fees with a maker rebate at every tier

Watch out for

  • Program source is not public yet
  • Program is upgradeable
  • No onchain state carries over from Drift

Velocity alternatives

HavenHaven is a non-custodial app for leveraged long and short positions that aims to remove liquidation risk.Compare with Velocity
ImperialImperial is a perpetual futures router on Solana.Compare with Velocity
Bumpin TradeBumpin Trade is a Solana perpetuals DEX that advertises up to 1000x leverage.Compare with Velocity
MeridianMeridian offers mutualized perpetuals and prediction markets for onchain trading.Compare with Velocity
MooncakeCompare with Velocity
PokeliquidPokeliquid offers perpetual futures on Pokémon card prices on Solana.Compare with Velocity

Sources

  1. docs.velocity.exchange/protocol/risk-and-safety/audits · checked 24 Oct 2026
  2. docs.velocity.exchange/protocol/getting-started/wallet-setup · checked 24 Oct 2026
  3. docs.velocity.exchange/protocol/trading/trading-fees · checked 24 Oct 2026
  4. docs.velocity.exchange/developers/contributing-to-velocity · checked 24 Oct 2026
  5. docs.velocity.exchange/developers/concepts/program-vault-addresses · checked 24 Oct 2026
  6. docs.velocity.exchange/protocol/referrals · checked 24 Oct 2026
  7. explorer.solana.com/address/vELoC1audYbSYVRXn1vPaV8Axoa9oU6BYmNGZZBDZ1P · checked 24 Oct 2026
  8. verify.osec.io/status/vELoC1audYbSYVRXn1vPaV8Axoa9oU6BYmNGZZBDZ1P · checked 24 Oct 2026
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