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Lighter
Supported DEXLighter is a decentralized trading platform offering verifiable order matching and liquidations, with zero maker and taker fees on its default Standard account type and opt-in Premium and Plus tiers t
Credits
4
per $10k volume
- Volume 24h
- $2.7B▲9.21%
- Open Interest
- $1.6B
- Fees 24h
- $147K
- Pairs
- 211
- Max Leverage
- 50x
Asset Categories
- Bonds
- Commodities
- Crypto
- ETF
- Pre IPO Equity
- Stocks
Deposit Networks
lighter
lighterAccepted Collateral
ETH
USDC
ETHUSDCProtocol Info
Launch Date
Jan 17, 2025
Raised
$68.0M
Open Source
Partially
Last Audit
Nov 24, 2025
Supported Wallets
E
EthereumM
MultisigS
Smart WalletsSupported Languages
EnglishChineseJapaneseTurkishSpanishRussian
Restricted Regions
No Restrictions
Trading and orders
Markets, leverage and the controls available before you enter a position.
- Order Matching Model
- Off-chain Clob
- Max Leverage
- 50
- Margin Modes
- Isolated Cross
- Supported Order Types
- Limit Orders, Market Orders, Post-Only, TWAP
- Position Hedge Mode + Isolation Level
- No
- Subaccount Support
- Yes
More about trading and orders
- Reduce-Only Orders
- Yes
- Leverage by Asset Tier
- BTC/ETH 50x (2% IMR); SOL 25x (4% IMR); XRP/HYPE/BNB 20x (5% IMR); ARB/OP 15x (6.66% IMR); standard alts 10x (10% IMR); lower-tier alts 3x-5x (20%-33.33% IMR)
- Time In Force Options
- Gtd, IOC
- Market Hours
- Continuous 24 7
Costs and funding
Trading charges, discounts and the cost of keeping a position open.
- Trading fee model
- Maker/Taker
- Maker Fee (Base)
- 0.000%
- Taker Fee (Base)
- 0.000%
- Funding Rate Interval
- 1 Hr
- Liquidation Fee / Penalty
- 0.0100%
- Fee Discount Mechanism
- Token Staking, Referral
More about costs and funding
- Variable Pair-Fee Schedule
- No
- Funding Rate Calculation
- Dynamic
- Funding Rate Cap
- 4.0000%
- Gas Fees — Order Management
- Not charged to the user for order placement/cancellation; matching/proving is off-chain with ZK proofs batched to Ethereum, consistent with the docs' 'zero fees for retail traders' framing.
- Fee Inclusion Notes
- partial liquidation: engine takes up to 1% liquidation fee on fills better than zero price and sends it to LLP (insurance fund)
- Zero-Fee Promotion
- Yes
Collateral and exits
What you can deposit, where funds are held and how you get them back.
- Accepted Collateral Types
- USDC, ETH, Other
- Account Model
- Wallet-Based
- Withdrawal Fee
- Other
- Withdrawal Settlement Time Median
- 1-10 Min
- Multi-Collateral Support
- Yes
- Yield on Idle Collateral / Equity
- No Yield
Security and risk
Audits, liquidation rules and who can change the system.
- Most Recent Audit Date
- Nov 24, 2025
- Oracle Provider(s)
- Chainlink, Stork Network, Pyth Network, Pyth Lazer, Cex Apis, Proprietary Oracle
- Liquidation Mechanism
- partial chunking
- Open Source Code
- Partially
- Negative Balance Protection
- Yes
- Mark vs Last Price Liquidation
- Mark Price
Token and rewards
Token utility, points and referral programmes available to traders.
- Native token lifecycle
- Launched
- Ticker/Token Symbol
- LIT
- Has Points Program
- Yes
- Points System Name
- Points Program
- Points Earning Mechanism
- organic UI/API trading; sybil and self-trading excluded; Season 2 weekly Friday drop
- Referral Program Exists
- Yes
More about token and rewards
- Referee Discount %
- 100
- Rewards Programs
- Referrals, Token Staking
- Token Use Cases
- Staking Rewards, Fee Discount, Buyback Target
Access and experience
Regional restrictions, wallet requirements and ways to use the venue.
- Geo-Restrictions
- Belarus, Canada, China, Cuba, Iran, Myanmar, North Korea, Russia, Singapore, South Sudan, Sudan, Switzerland, Syria, Ukraine, United Arab Emirates, United Kingdom, United States, Venezuela
- Native Chain
- Ethereum
- Mobile App
- Ios App, Android App
- Gas Abstraction
- L2 Native No Gas
- Trading surfaces and pre-trade views
- Web App, API Access, Sdks
- Email/Social Login
- No
Venue notes
decentralized trading platform in a zero-fee environment; first exchange to offer verifiable order matching and liquidations Position Hedge Mode + Isolation Level: No one-way/hedge-mode toggle or same-pair simultaneous long+short control was found on the BTC or LIT order tickets, Advanced entry point, or settings this pass. Zero-Fee Promotion: Active and venue-wide for Standard Accounts: 'Lighter currently charges no maker or taker fees for Standard Accounts, allowing all participants to trade across all markets free of charge' — this is not a time-limited promotion but the venue's default fee structure, covering both perpetual futures and spot markets.
Trading pairs
Fee tiers
Fee Model
Maker/Taker
Fee Discounts
Token Staking,referral
Zero Fee Trading
Yes
Variable Pair Fees
No
Withdrawal Fee
$0
Withdrawal Delay
1-10 Min
Funding Interval
1 Hr
Funding Mechanism
Dynamic
Flat Fee Structure
| Maker Fee | Taker Fee |
|---|---|
| 0.0000% | 0.0000% |
Fee Discount
