#drift

BULK Exchange and Drift Protocol are both Solana-native perpetuals exchanges — but they are architecturally opposite. Drift runs standard Solana programs at 400ms block times. BULK runs a custom L0 execution layer at 5–20ms. The tradeoffs are real and significant.

Three exchanges compete for Solana perpetual trading volume: BULK Exchange, Drift Protocol, and Hyperliquid. This comparison covers execution speed, margin efficiency, fee structure, fair ordering, community allocation, and who each exchange is built for.