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Home/Compare/Hyperliquid vs Lighter

Hyperliquid vs Lighter

Side-by-side comparison of two perpetual futures exchanges — updated in real time.

Metric
Hyperliquid
Hyperliquid
Lighter
Lighter
Chain
Hyperliquid L1
Ethereum L2
Type
Orderbook
Orderbook
24h Volume
$6.88B
$2.54B
Open Interest
$5.73B
$797M
Maker Fee
0.015%
0.00%
Taker Fee
0.045%
0.00%
Max Leverage
50×
20×
Markets
190
153
Collateral
USDC
USDC
Funding Interval
1h
1h
Airdrop Status
$HYPE
$LIT

Hyperliquid — Pros & Cons

Pros

  • Deep liquidity and tight spreads
  • Sub-second finality on native L1
  • Zero gas fees for trading

Cons

  • Single-chain ecosystem
  • Centralized sequencer
  • Limited DeFi composability

Lighter — Pros & Cons

Pros

  • Zero gas fees
  • Fully on-chain orderbook
  • Fast settlement

Cons

  • Fewer markets than competitors
  • Newer ecosystem
  • Limited collateral options
Trade on Hyperliquid →Trade on Lighter →

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