Raydium, the third-largest DeFi protocol on Solana, has launched a public beta for perpetual futures trading through Orderly Network.

The platform offers gas-free trading and access to over 70 trading pairs with up to 40x leverage, featuring maker fees of 0% and taker fees of 0.025% during the beta period.

With $2.2 billion in total value locked, Raydium ranks behind Jito and Jupiter among Solana’s DeFi protocols, according to DeFiLlama data.

The expansion into perpetual futures comes as DEX-based perpetual products have generated over $650 billion in trading volumes and more than $490 million in fees, based on a Dune dashboard by Shogun.

Hyperliquid currently dominates the perpetual trading market with a 46.3% market share, according to a Dune dashboard by uwusanauwu.

The move places Raydium in competition with other platforms like Arkham, which introduced both perpetual and spot products last November.

The new offering leverages Solana’s high-speed, low-cost infrastructure to provide users with omni-chain liquidity and derivatives trading capabilities.