Lighter

Lighter is a zk-rollup perpetuals exchange with verifiable matching and very low fees, which made it a favourite of professional and farming flow before its LIT token launched. It routinely clears around a billion dollars a day in volume.

Lighter fees

Lighter charges about 0 bps maker and 2 bps taker (a basis point is 0.01%). As with any perp venue, the funding rate often matters more than the headline fee: it is a recurring payment between longs and shorts that can quietly run for or against your position. See how this stacks up on the lowest-fee perp DEX ranking.

Lighter leverage & markets

Lighter offers up to 50x leverage across crypto markets on zk rollup (Ethereum L2). Higher leverage magnifies both gains and liquidation risk, so size positions carefully. For the most aggressive limits, see the highest-leverage perp DEX ranking.

Is Lighter safe and is there KYC?

Lighter is non-custodial: your funds stay in your own wallet and you sign each trade, so there is no company holding your balance and typically no KYC. The trade-off is smart-contract and liquidation risk, so prefer venues with a solid track record and verify contracts yourself.

Who is behind Lighter?

Lighter was built by Vladimir Novakovski, a former Citadel quant and Harvard graduate.

Backers: Founders Fund, Ribbit Capital, a16z, Coatue and others, in a round near $68M.

Lighter milestones

• 2022Lighter is founded by Vladimir Novakovski
• Jan 2025Invite-only private beta launches
• 2025A round near $68M at a roughly $1.5B valuation
• Oct 2025Public mainnet opens and Season 2 begins
• Dec 2025LIT token launches, with 25% airdropped

Lighter FAQ

What is Lighter?

Lighter is a near zero-fee zk-rollup perp DEX popular with fee-sensitive and high-frequency traders. It runs on zk rollup (Ethereum L2) using a orderbook model, offering up to 50x leverage on crypto markets.

What are Lighter's fees?

Lighter charges roughly 0 bps maker and 2 bps taker (1 bp = 0.01%). Funding is paid periodically between longs and shorts.

Does Lighter require KYC?

No. Lighter is a decentralized exchange: you connect a self-custody wallet and trade permissionlessly, with no signup or KYC on the protocol.

Does Lighter have a token?

Yes, Lighter's token is $LIT.