Lighter

Perp DEX

$LIT · Founded 2025 · lighter.xyz ↗

$2.9710.96% 24h

Visit Lighter ↗

Zero feesToken live

★★★★★★★★★★

89/100dexwatch score · Excellent

A zk-rollup order-book perp DEX with zero-fee standard accounts, a live LIT token and a second instance inside Robinhood Wallet.

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Status

LIT launched on 30 December 2025 with a 25% airdrop; the points programme that preceded it is over. Since July 2026 a separate Lighter instance powers perps inside Robinhood Wallet on Robinhood Chain.

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For beginners

Cheap and fast, but built for active traders. Start with a standard account and small size.

Key metrics

24h volume

$3.04B

7d volume

$15.53B

Total value locked

$743.8M

Open interest

$1.12B

Share of tracked perp volume

9.2%

Market cap

$742.0M

Maker / taker fee

0% / 0%

Max leverage

50×

Trading pairs

246

Snapshot Oct 15, 2026 from public sources (the venue's own market API for volume and open interest, DefiLlama for TVL, CoinGecko for token price). Live values refresh in your browser where a source is available. Fields without a verifiable source show n/a.

The honest take

Pros

✓Zero maker and taker fees on standard accounts — among the cheapest venues anywhere

✓Verifiable zk matching and liquidations, with nine published audit reports

✓Consistently a top-3 decentralized perp venue by volume, with a live, tradable token

Cons

✕Zero-fee standard accounts get slower (300 ms) taker execution; premium accounts pay 0.004% / 0.028%

✕L2BEAT flags instant upgradeability and unverified oracle signatures as trust assumptions

Security

80/100Solid

AuditszkSecurityNethermind9 published reports

At a glance

ChainszkLighter (Ethereum L2)Robinhood Chain

IncentivesLIT staking (fee discounts, fixed-rate rewards), daily buybacks, Robinhood Chain points

TypePerp DEX

Made your choice?

Start trading on Lighter

Non-custodial — connect your wallet and you stay in control of your funds. Leverage is high-risk; only trade what you can afford to lose.

zkLighter (Ethereum L2)Robinhood ChainPerp DEX

Open Lighter ↗ Visit lighter.xyz Affiliate link · dexwatch may earn a commission at no extra cost to you.

Frequently asked about Lighter

Is Lighter safe to use?

Lighter has a dexwatch security score of 80/100 (Solid). Published audits and reviews: zkSecurity, Nethermind, 9 published reports. Because it is non-custodial you keep control of your funds in your own wallet.

What are the trading fees on Lighter?

Lighter charges a maker fee of 0% and a taker fee of 0%.

What is the maximum leverage on Lighter?

Lighter offers up to 50× leverage on supported markets. High leverage is extremely risky and can liquidate a position quickly — only trade what you can afford to lose.

Which blockchains does Lighter support?

Lighter operates on zkLighter (Ethereum L2), Robinhood Chain.

Is Lighter good for beginners?

Cheap and fast, but built for active traders. Start with a standard account and small size.

Head-to-head comparisons

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Compare with similar venues

See full ranking →

Learn before you trade

Open the Academy →

What are perpetuals & perp DEXes?Module 7 · 7 min read → Leverage risk & liquidationModule 7 · 6 min read → The crypto wallet: your key to the DEXModule 2 · 6 min read → Phishing, fake sites & wallet drainersModule 5 · 7 min read →

Key terms

Perpetuals Funding rate Leverage Liquidation Margin

Figures are a dated snapshot from public sources — they move constantly and are for reference only, not financial advice. Updated Oct 15, 2026. Spotted an error? Tell us.