We are excited to announce the launch of Leveraged Swaps, the next evolution of spot AMMs!

Leveraged Swaps combine the power of swaps and spot margin together to give traders access to the best prices on Solana and up to 5x leverage — all with just one click! Leveraged swaps utilise the power of “flash loans” to allow traders to increase their spot buying or selling potential.

Drift’s leveraged swaps integrate with Jupiter, the leading spot aggregator in Solana, to find the best routes for your leveraged swaps — providing users with the best price for their trades all on Drift. Our goal with the launch of leveraged swaps is to make it easier than ever to increase your buying power and access deep liquidity across Solana, directly within Drift.

Swap on Drift with Leverage

• Swap between any pair on Drift with up to 5x leverage
• Get the best price/lowest slippage for your swap, powered by Jupiter
• All in your Drift account

For advanced traders, the power of flash loans enables greater capital efficiency to capture risk-free arbitrage opportunities, leverage up for directional trades and long/short with margin with one click.

How do Drift Leveraged Swaps Work?

Leveraged swaps utilise Drift’s borrow/lend program to allow access to “flash loans” that increase your swap by up to 5x. Jupiter is a swap aggregator that ensures traders are receiving the best price and lowest slippage for their swaps. Keep in mind the amount of leverage available for a swap depends on the asset you use as collateral.

For example, let’s say a user has $100 worth of SOL in their subaccount on Drift and they would like to increase their purchasing power in order to buy more USDC. The user will be able to initiate a “flash loan” with Drift’s borrow/lend program in order to swap up to 5x more of their initial capital with just one click. It’s important to note, performing a leveraged swap will automatically open a borrow for you which you can repay the borrow by depositing the asset borrowed or by swapping back.

How do Swaps differ from Spot / Spot Margin?

Drift’s leveraged swaps differ from Spot / Spot Margin by harnessing the power of Jupiter routing in the backend. Drift Swaps allow traders to receive the best price for their swaps across the Solana ecosystem. Traders can now swap comfortably on Drift knowing that they are receiving the best price for their swaps all while getting access to up to 5x leverage!

Trade Swaps on Drift with 0 Fees!

For a limited time, Drift will charge no additional trading or borrow origination fees! However, users should be aware that they will be charged small fees added by the DEX/AMM from the Jupiter routes. Head over to app.drift.trade/swap to get started leveraged swapping today.

How to Perform a Leveraged Swap

1) Visit the “Swap” page in the top navigation

2) Enable Margin
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In order to perform a leveraged swap, check the trade form to make sure you have margin enabled. If not, click on it and enable it for your subaccount.

3) Select pairs

Now that you have margin enabled, use the drop-downs in the form to select the pairs you’d like to swap between.

4) Adjust your leverage

You can adjust the amount you want to swap in 3 ways; 1) Enter the amount you’d like to pay, 2) Enter the amount of the asset you’d like to receive, and 3) Adjust the leverage slider. You can evaluate the routes and associated fees within the form.

5) Swap!

When you’re happy with your order, click the swap button to execute it. Below the graph, you should see your balances updated and you can check your swap history.

6) Repaying your borrows

Performing a leveraged swap will automatically open a borrow for you. You can repay the borrow by depositing the asset borrowed or by swapping.

Get Started

Visit https://app.drift.trade/swap to begin swapping today!