Solver competition · CoW Protocol on BNB Chain
One in five of all BNB Chain batches went to one solver in the last 24 hours.
7,084 batches7,333 trades$1.57M volume23 solversto 21:43 UTC
Nexroute22.8%1 square = 2 batches
- Nexroute22.8%
- Dfusion14.8%
- Helixbox14.2%
- Wraxyn11.2%
- Solivagus6.5%
- Uvsolver6.0%
- 17 others24.5%
Who is winning
Nexroute leads with 22.8% of batches, 1.5× Dfusion’s share. By volume, Rizzolver leads with 40.5%.
1Nexroute22.8%1,616 batches77% in31% win387K gas
2Dfusionup 3 places14.8%1,048 batches81% in21% win343K gas
3Helixboxup 1 place14.2%1,008 batches62% in26% win391K gas
4Wraxyndown 2 places11.2%796 batches67% in19% win494K gas
5Solivagusdown 2 places6.5%458 batches32% in23% win412K gas
6Uvsolverup 1 place6.0%425 batches73% in9% win365K gas
7Fibrousup 1 place5.2%370 batches23% in26% win618K gas
8Horadrimdown 2 places3.5%251 batches18% in23% win600K gas
9Asao3.3%231 batches69% in5% win268K gas
10Kite2.9%206 batches30% in11% win548K gas
11Sector Finance2.7%190 batches52% in6% win454K gas
12Fractal1.4%99 batches30% in6% win390K gas
13Rizzolverup 2 places1.0%74 batches7% in16% win371K gas
14Arcdown 1 place0.8%57 batches14% in7% win857K gas
15Rosatodown 1 place0.7%52 batches55% in2% win682K gas
16Zuruinew0.7%51 batches19% in4% win293K gas
17BitGetup 4 places0.6%41 batches51% in1% win785K gas
18Flowdown 1 place0.5%34 batches14% in4% win1.13M gas
19Kaisersolverdown 3 places0.5%33 batches61% in1% win289K gas
20Baselinedown 2 places0.3%22 batches42% in1% win298K gas
21Tsolverdown 1 place0.3%19 batches10% in3% win696K gas
22OKXdown 3 places<0.1%2 batches19% in<1% win1.28M gas
23Kipselidown 1 place<0.1%1 batch<1% in33% win1.11M gas
Open a row for details. rank change from the previous 24 hours. 9 Nov 21:43 – 10 Nov 21:43 UTC.Source: CoW Protocol API · BNB Chain settlement events
Is it changing
Nexroute has topped daily batches for 2 days in a row, taking over from Solivagus. Largest share gain compared with the previous 24 hours: Dfusion, +6.7 pp. Across all solvers, batches are down 12.0% compared with the previous 24 hours.
All solversDaily batches · 30 days
7,084batches in the last 24 hours · −12.0% vs the previous 24 hours
Daily batches across all solvers, 12 Oct to 10 Nov: between 5,102 and 9,189 a day.12 OctBolder: the last 24 hours10 Nov
Nexroute#1
22.8%−6.8 pp
Nexroute: daily share of batches from 29.6% on 12 Oct to 22.8% on 10 Nov.Dfusion#2
14.8%+8.7 pp
Dfusion: daily share of batches from 6.1% on 12 Oct to 14.8% on 10 Nov.Helixbox#3
14.2%−4.5 pp
Helixbox: daily share of batches from 18.8% on 12 Oct to 14.2% on 10 Nov.Wraxyn#4
11.2%+8.8 pp
Wraxyn: daily share of batches from 2.5% on 12 Oct to 11.2% on 10 Nov.Solivagus#5
6.5%+6.5 pp
Solivagus: daily share of batches from 0.0% on 12 Oct to 6.5% on 10 Nov.Uvsolver#6
6.0%−16.5 pp
Uvsolver: daily share of batches from 22.5% on 12 Oct to 6.0% on 10 Nov.Fibrous#7
5.2%−1.5 pp
Fibrous: daily share of batches from 6.7% on 12 Oct to 5.2% on 10 Nov.Horadrim#8
3.5%+3.5 pp
Horadrim: daily share of batches from 0.1% on 12 Oct to 3.5% on 10 Nov.Daily share of batches, top 8, same scale (0–40%). Change since 12 Oct.12 Oct – 10 Nov
Who enters, who wins
On average, 9.7 solvers enter each auction, submitting about 12 competing solutions. Nexroute enters 77% of auctions and wins 31% of those.
EnteredWon
in · win rate · filtered out
Nexroute77% · 31% · <0.1%
Dfusion81% · 21% · 1.7%
Helixbox62% · 26% · 0%
Wraxyn67% · 19% · 0%
Solivagus32% · 23% · 0%
Uvsolver73% · 9% · 0%
Fibrous23% · 26% · 0.7%
Horadrim18% · 23% · 0%
Asao69% · 5% · 0%
Kite30% · 11% · 0%
Sector Finance52% · 6% · 0.4%
Fractal30% · 6% · 4.4%
Rizzolver7% · 16% · 0%
Arc14% · 7% · 0%
Rosato55% · 2% · 0%
Zurui19% · 4% · 0%
BitGet51% · 1% · 0%
Kaisersolver61% · 1% · <0.1%
Flow14% · 4% · 0%
Baseline42% · 1% · 5.5%
Tsolver10% · 3% · 0.7%
OKX19% · <1% · 0%
Trusted Volumes19% · <1% · 0%
Kipseli<1% · 33% · 0%
BYOS35% · 0% · 0%
AlgoLabs5% · 0% · 0%
0%50%100%0%50%100% of auctions
Latest 48 auctions
#27,135,470 · 21:43:12 UTC · 16 entered · won by NexrouteClick an auction to see its solutions. Filtered out: the share of a solver’s solutions that CoW’s fairness filter removed; a filtered-out solution cannot win.Source: CoW Protocol solver-competition API
Quotes
Share of quoted tradesIn the last 24 hours, 7,123 of 7,333 trades were placed with a solver’s quote. CoW had verified 95.7% of those quotes by simulating them. Dfusion gave 38.6% of all those quotes. The solver that gave the quote settled 17.9% of those trades itself.
QuotedSettled itself
share · settled itself · verifiedshare · settled itself
Dfusion38.6% · 14% · 99%38.6% · 14%
Fibrous13.3% · 15% · >99%13.3% · 15%
Asao12.8% · 8% · >99%12.8% · 8%
Nexroute9.4% · 55% · 99%9.4% · 55%
Kaisersolver7.9% · 1% · 99%7.9% · 1%
Wraxyn6.8% · 15% · 98%6.8% · 15%
Sector Finance3.6% · 32% · 75%3.6% · 32%
Helixbox1.5% · 71% · 44%1.5% · 71%
Baseline1.3% · 0% · 100%1.3% · 0%
Rizzolver1.3% · 32% · 85%1.3% · 32%
Fractal0.6% · 4% · 20%0.6% · 4%
Kipseli0.6% · 0% · 44%0.6% · 0%
Flow0.6% · 34% · 0%0.6% · 34%
Uvsolver0.5% · 6% · 100%0.5% · 6%
Horadrim0.4% · 0% · 100%0.4% · 0%
Rosato0.4% · 10% · 100%0.4% · 10%
Arc0.2% · 18% · 88%0.2% · 18%
Tsolver0.1% · 78% · 0%0.1% · 78%
BitGet<0.1% · 0% · 67%<0.1% · 0%
0%10%20%30%40%0%10%20%30%40% of quoted trades
Verified: CoW checked the quote by simulating it. Settled itself: the solver that gave the quote also settled the trade. These figures do not show quote rewards, which CoW pays by a different rule. Solivagus, Kite, Zurui and OKX gave no quotes.Source: CoW Protocol order book
Latest settlements
All solvers · newest firstIn the last 24 hours, CoW’s protocol fees totaled $1,127 (7.2 bps of volume) and partner fees $1,657 (10.6 bps).
21:43:16NexrouteDOGE → USDT
21:42:00ZuruiUSDT → BNB +1
21:41:34NexrouteDOGE → USDT
21:41:31NexrouteBUSD → XRP
21:39:47HoradrimUSD1 → USDC
21:39:45HoradrimUSDC → USD1
21:39:42HoradrimUSDC → USD1
21:39:06DfusionUSDT → MPST +1
21:39:04UvsolverUSDT → MPST
Transaction cost: what the transaction paid for gas on BNB Chain. Fees: charged on the settlement’s trades by CoW’s protocol and by partners. Quoted by: the solver whose quote the first trade’s order was placed with.Source: CoW Protocol API · BNB Chain settlement events
How efficiently
Asao uses the least gas per trade among solvers with 100+ batches: 268K, against a network average of 426K. Across the network, a trade takes 2.72 DEX swaps on average. Transaction cost averages 1.8¢ per trade.
Network averageFewer than 30 tradesDot size: trades
Gas per trade · average 426KCost per trade · average 1.8¢DEX swaps per trade · average 2.72CostSwaps
Asao268K1.0¢2.80
Kaisersolver289K1.1¢2.33
Zurui293K1.1¢2.29
Baseline298K1.1¢2.82
Dfusion343K1.3¢2.31
Uvsolver365K1.4¢3.18
Rizzolver371K1.5¢1.35
Nexroute387K1.5¢3.08
Fractal390K1.5¢3.37
Helixbox391K2.7¢1.56
Solivagus412K1.6¢3.13
Sector Finance454K2.0¢1.91
Wraxyn494K1.9¢2.05
Kite548K2.1¢7.04
Horadrim600K2.3¢4.12
Fibrous618K2.3¢4.00
Rosato682K2.6¢2.00
Tsolver696K2.6¢1.63
BitGet785K2.9¢2.00
Arc857K3.2¢2.07
Kipseli1.11M3.8¢1.00
Flow1.13M4.3¢2.24
OKX1.28M4.8¢2.00
0500K1M1.5M2M01¢2¢3¢4¢5¢02468
Values beyond an axis range sit at its end, marked ›.Cost: transaction cost per trade. Swaps: DEX swaps per trade. Values beyond the axis range sit at its end, marked ›.Source: BNB Chain settlement transactions · Chainlink BNB/USD
Trader surplus
Basis points of volumeIn the last 24 hours, trades beat the limit prices their users signed by $20,955. The 5.6% of trades with limits far from the market account for 28.6% of that. Leave those out and typical trades beat their limits by 98 bps of volume, $2.16 a trade.
Typical tradesAll tradesNetwork average, typical tradesFewer than 30 trades
Typical surplus · average 98TypicalbpsAll tradesUnusual
Rizzolver578837%
Tsolver1211210%
Sector Finance9595<1%
Flow2572570%
Nexroute446735%
Wraxyn7636181%
Dfusion60601%
BitGet37370%
Fibrous3623620%
Helixbox17727442%
Solivagus13131%
Rosato51522%
Arc4211063%
Fractal74740%
Kite91910%
Asao94961%
Uvsolver49548%
Horadrim110%
OKX151611%
Kaisersolver89890%
Zurui47470%
Baseline8122469%
Kipseli8938930%
0100200300400
Unusual: surplus above a tenth of the trade’s value, CoW’s cutoff. Values beyond the axis range sit at its end, marked ›. Sorted by volume.Unusual: surplus above a tenth of the trade’s value. Values beyond the axis range sit at its end, marked ›. Sorted by volume.Source: CoW Protocol API · BNB Chain settlement calldata
Methodology
- Batches
- Settlements a solver executed on BNB Chain in the window that filled at least one order. One auction can settle as several batches.
- Trades
- Orders filled inside those batches. An order filled in parts counts once per fill.
- Volume
- USD value of filled orders. Each trade counts at the lower of its sell and buy value, priced with the token prices CoW used in that auction and Chainlink’s BNB/USD rate at settlement. With only one side priced, that side counts; with neither, the trade adds nothing.
- Share
- A solver’s portion of all batches, trades or volume in the window.
- Gas per trade
- Gas units used by a solver’s settlements divided by trades filled. Units of gas, not cost. “Lowest gas per trade” considers only solvers with at least 100 batches per day of settlement data in the window, or every solver when none has that many.
- Transaction cost
- What a settlement transaction paid on BNB Chain: gas used × gas price, in USD at Chainlink’s BNB/USD rate in its block. A transaction that holds several batches splits its cost evenly between them, as it splits gas. Per trade: a solver’s cost divided by the trades it filled.
- DEX swaps
- Interactions in a settlement other than token approvals and WBNB unwraps. Per trade: a solver’s swaps divided by the trades it filled.
- Batch value
- Volume divided by batches. Trades per batch is trades divided by batches.
- Surplus
- The USD value of a trade’s improvement over its user’s signed limit price, valued like Volume. Dune’s formula: value × (bought × limit sell − sold × limit buy) ÷ (bought × limit sell), where bought and sold are the executed amounts (sold without the fee) and the limits come from the settlement’s calldata. Compared in basis points (hundredths of a percent) of volume.
- Unusual surplus
- Surplus above a tenth of the trade’s value, CoW’s own cutoff (Dune query 1368423). It comes from limits set far from the market, such as very wide slippage or stale orders. “Typical surplus” excludes these trades; the unusual share is their portion of a solver’s surplus.
- Quote
- The quote an order was placed with: the best of the solvers’ quotes when the trader asked for a price, as CoW’s order book records it with the solver that gave it. Verified: CoW checked the quote by simulating it. Settled itself: the solver that gave the quote also settled the trade. Counted by trade. These figures say whose price traders signed against, not who earned quote rewards, which CoW pays by a different rule.
- Fees
- Protocol fees are CoW’s: on market orders, half of the improvement over the quote; on limit orders that execute beyond the market price, half of the surplus; either capped at 0.98% of volume; then a volume fee of 2 bps, or 0.3 bps for correlated pairs such as stablecoins. Partner fees are set by the integrator in the order, up to 100 bps, and apply after CoW’s own fees; CoW keeps a quarter as a service fee. Each is charged in the trade’s surplus token, as CoW’s trades API lists it, and valued at the trade’s own exchange rate. Fees follow the orders a solver settles; solvers do not set them.
- Network average
- Gas, transaction cost and DEX swaps per trade across all solvers on BNB Chain, weighted by trades. Typical surplus across all solvers on BNB Chain, weighted by volume.
- Entered
- Share of the window’s auctions in which the solver submitted at least one solution, even if CoW filtered it out. Only auctions that ended in a settlement count. “Average solver” is the mean Entered share among the table’s solvers that entered at least one auction.
- Win rate
- Share of the auctions a solver entered that it won, alone or with other winners.
- Score
- The value CoW’s protocol computes from each solution’s executed amounts to choose winners: roughly the surplus the solution generates for traders. It is in BNB; the page shows it in USD at Chainlink’s BNB/USD rate when the auction started. Below winner: how much lower a solution scored than the winning one, given only for auctions with a single winner, since in the others a solution competes with only one of the winners.
- Filtered out
- Removed by the fairness filter of CoW’s combinatorial auction (CIP-67). For each token pair traded in one direction, CoW takes the best solution with only that pair’s orders as a reference; a solution that batches several pairs is filtered out when it scores less on any of them than that reference. A filtered-out solution cannot win. A solver’s share: its filtered-out solutions divided by all its solutions.
- Lost by 1% or less
- Of the auctions with one winner that a solver entered and lost with a solution that passed the filter, the share in which its best such solution scored at most 1% below the winning score.
- Leading since
- First day of the current unbroken run in which the same solver alone ranked #1 by daily share of the selected measure.
- Sources
- Settlement events, calldata, receipts and token symbols on BNB Chain, the settlement contract’s on-chain solver allow-list, CoW Protocol’s solver-competition API, order book and trades API, CoW’s solver registry and Chainlink’s BNB/USD feed.
- Dune
- Surplus follows Dune’s definition (Spellbook’s cow_protocol_bnb.trades) with one difference: trades are valued at the lower of their two sides, as Volume is, where Dune takes the higher. Buy-order surplus follows Dune’s formula, which comes out slightly below CoW Explorer’s figure.
- Attribution
- Settlements through CoW’s flash-loan router or Euler’s contracts for CoW’s Atomic Bundles follow the same rule. Both call the settlement contract on a solver’s behalf. Credit goes to the transaction’s recipient if it is a registered or allow-listed solver other than these contracts, else to its sender if it is registered or allow-listed, else to the winner CoW’s solver-competition API names for the transaction; failing that, to the sender.
- Registry
- Status and submission addresses from CoW’s solver registry for BNB Chain, plus addresses that settle on BNB Chain and are on the settlement contract’s on-chain solver allow-list but are not listed as active for that network. These additional addresses are shown as active; today there are two, Rizzolver’s 0x8f58…5cb7 and Fractal’s 0x9548…94c7. A retired address is one the registry marks inactive.
- Freshness
- Updated every 10 minutes. The figures run to block 132,850,319, produced 10 Nov 2026 at 21:43 UTC.
- Windows
- Rolling, ending at the newest block in the data. Longer windows add up daily windows; rates such as Entered and Win rate are taken over all of a window’s auctions together.
- Coverage
- Settlement history goes back 180 days, auction history 90 days, surplus history 90 days and auction details (solutions, quotes and fees) 90 days. Volume, Entered and Win rate require auction data; surplus also requires signed order terms. In longer windows, these figures cover only the days with the required data, as noted on the page.
- Names
- From CoW’s public solver registry. Solvers without a public name are shown by address.