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Kinetiq Markets vs Lighter

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

Metric

Kinetiq Markets

Chain

Hyperliquid L1

Ethereum L2

Type

Oracle

Orderbook

24h Volume

—

$1.76B

Open Interest

—

$690M

Maker Fee

0.030%

0.00%

Taker Fee

0.090%

0.00%

Max Leverage

50×

20×

Markets

23

153

Collateral

USDH

USDC

Funding Interval

1h

1h

Airdrop Status

$KNTQ

$LIT

Kinetiq Markets — Pros & Cons

Pros

Unique TradFi asset focus (equities, indices, commodities)
Built on Hyperliquid L1 — fast execution
kHYPE liquid staking integration

Cons

USDH-only collateral
Fewer markets than crypto-focused DEXes (~23)
Dependent on Hyperliquid ecosystem

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 Kinetiq Markets →Trade on Lighter →

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