Jupiter ranked first among cross-chain decentralized exchange aggregators by trading volume in Q3 2026, marking its eighth consecutive quarter at the top. However, the Solana-native aggregator saw its dominance on its home network weaken as competitors captured more share.
Q3 volume and revenue
Jupiter routed approximately $57 billion in trades during the quarter, a 5% decline from the previous quarter. Monthly volume climbed steadily: $18.2 billion in July, $18.8 billion in August, and $20.0 billion in September. Each month improved on the last, even as the quarterly total slipped against Q2.
Revenue told a different story. Jupiter brought in $17 million for the quarter, up 12% from the prior period. Most of that gain came from swap fees, which jumped 50% and contributed $8.85 million.
A DEX aggregator works like a flight search engine, scanning multiple venues to find the best price. Jupiter scans liquidity across more than 20 Solana DEXs, including Raydium and Orca, and routes each trade to get users the best available price.
Market share pressure on Solana
Jupiter’s share of Solana’s DEX aggregator volume dropped from 71% to 65% over the quarter. The slide continued: on September 27, its daily market share on Solana fell to 50%. In October, its monthly share was 59%, a record low for the platform on its own network.
The main beneficiary is DFlow, whose volume reached $15.4 billion in Q3 2026 and which captured a record 23% of Solana aggregator volume by October. Multi-chain players are also in the mix: OKX reached $12.1 billion in Q3 volume, while 0x Protocol and OKX DEX are among the competitors gaining ground.
Still leading by DefiLlama’s count
As of November 5, 2026, Jupiter remained the top DEX aggregator by volume according to DefiLlama data. Its 30-day volume stood at $13.514 billion, below every one of Jupiter’s monthly totals from Q3. September alone came in at $20.0 billion.
Background and what to watch
Jupiter launched in October 2021. Since then, its cumulative routing volume has exceeded $1.3 trillion. The shift in competitive dynamics on Solana has been most visible since mid-2026, when DFlow’s share began rising in a way that showed up clearly in the monthly figures.
For Jupiter, the Q3 report tells two stories at once: revenue is growing faster than volume, driven by a 50% increase in swap fees. For DFlow, a 23% share in October is a meaningful foothold. The metrics worth watching are whether Jupiter’s Solana share stabilizes near the 59% October level or keeps sliding, whether DFlow pushes past its 23% record, and whether Jupiter can keep growing revenue if volume continues to soften.
