Solana market structure · data · infrastructure

See how Solana really trades.

Polaris Lab reconstructs the real liquidity behind Solana's aggregators, AMMs, and PropAMMs, and turns it into the data and research professional desks run on.

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Coverage

Crypto majorsStable pairsTokenized assetsSolana spot

$1B+

in daily spot volume, the market your stack plugs into.

Routing surfaces observed

JupiterTitanDFlowOKXAMMsPropAMMs

Market structure

Solana's executable book is distributed.

The best executable price is not visible in one place. It lives across account state, AMMs, PropAMMs, RFQ makers, aggregators, route caches, and the transaction path that finally lands the trade.

For execution desks

The route you simulate is not always the route you land.

Measure execution gap, route freshness, quote decay, and the value between best simulated execution and landed execution.

For market makers

Displayed price is not the same as landable liquidity.

See where flow goes, which venues quote fresh, where competitors win size, and when transaction landing matters more than displayed price.

For protocols

Route inclusion is distribution, not a dashboard vanity metric.

Measure aggregator coverage, venue quality, quote freshness, and the reliability signals serious flow expects before routing through your pool.

Operate on Solana

The Solana venue stack for professional desks.

If your system can already produce quotes, Polaris helps you understand the market, stream the data, send the transactions, and receive Solana flow through Obsidian.

Data

Data Streams & API

Live and historical Solana microstructure data: Synthetic L2, simulated executable depth, swap tape, route quality, venue comparison, freshness metrics, and historical replay.

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Venue adapter

Obsidian

Quote through the same adapter pattern you use for other venues. Sign locally, send curve updates, and receive fills and telemetry without hand-building every Solana primitive.

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Infrastructure

RPCEdge

Polaris Lab's low-latency Solana connectivity layer: RPC, Yellowstone gRPC, decoded shreds, transaction sending, and regional edge nodes for latency-sensitive systems.

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Atlas · depth

Every venue, one live view.

Atlas is the public, live view of the Polaris data streams: Solana depth reconstructed venue by venue from on-chain state, priced by what it costs to trade. The feed desks integrate, rendered in the open.

Open Atlas

Atlas: SOL-USDC depth stacked across 7 venues into one live book, with cost-to-trade beating every CEX

Atlas · order flow

A venue you can read.

A synthetic order book from live pool state, and the trade tape across every venue — Solana in the format every desk already reads.

Open Atlas

Atlas synthetic order book derived from live Solana pool state, beside a live cross-venue trade tape

Polaris Market Structure Reports

Public research for Solana's hidden market structure.

The first reports explain how Solana routes flow, where execution quality breaks down, and how Polaris reconstructs the data desks can inspect or request.

Flagship report

The Hidden Order Book of Solana

A map of Solana's hidden executable liquidity: aggregators, PropAMMs, RFQ paths, route activation, quote decay, and the gap between best simulated execution and landed execution.

Read outline→

Market-maker report

Read Fast, Send Fast: Solana Execution for Market Makers

A desk guide to shreds, gRPC, leader paths, priority fees, tips, transaction sending, landing feedback, and tail latency.

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Methodology

Polaris Synthetic L2 Methodology

What is observed, what is simulated, what is inferred, and how Polaris validates reconstructed executable depth against realized swaps.

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Request a sample data window.

Tell us the markets, venues, and strategy shape you want to evaluate. Qualified teams can receive a limited historical or delayed-live sample to test Polaris data against their own assumptions.

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