Solana Educational Bounties: Swap Volume on Solana Educational Bounties: Swap Volume on Orca

As an introduction to 'flipside_prod_db.solana.fact_swaps' table the objective of this dashboard is to analyse the SOL-USDC swap token flow in some of the Solana ecosystem DEXes. Although the request was to compare ORCA and Jupiter trends, data for swaps in Raydium are included as some price discrepancies were noticed in the Jupiter swap data.

The next graph shows the SOL flow for swaps in ORCA and Jupiter.

A positive flow indicates that DEX users are buying more SOL than selling, and is calculated as:

(USDC->SOL volume) - (SOL->USDC volume)

Some days show a substantial difference in token flow.

Can this be related to differences in total volume?

Volume by day show a good correlation between the two DEX's with more volume in Jupiter.

Is there any difference in swap prices between these 2 DEX's?

Data from Raydium was collected to compare and backup any conclusions.

In volume Jupiter sits right between Raydium and ORCA, but we can clearly see that Jupiter prices are different by a large margin on the average Buy and Sell swap price.

ORCA and Raydium average prices align pretty well so some research is needed on what makes Jupiter prices shift so much.

The Swap flow by day and by DEX show a general agreement between DEX users, although some "counter trend" days are seen in Jupiter. (Ex: Feb3 and Feb 17)

Conclusion

Some interesting situations are detected.

The Flow peak of Feb 2 aligns well with the subsequent raise in SOL price from 98$ to 118$.

The buy support on Feb 24 also marked a local low.

Additional analysis can be improved by filtering for swap size.