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Home/Compare/Lighter vs Hyperliquid

Lighter vs Hyperliquid

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

Metric
Lighter
Lighter
Hyperliquid
Hyperliquid
Chain
Ethereum L2
Hyperliquid L1
Type
Orderbook
Orderbook
24h Volume
$1.77B
$5.38B
Open Interest
$804M
$5.59B
Maker Fee
0.00%
0.015%
Taker Fee
0.00%
0.045%
Max Leverage
20×
50×
Markets
153
190
Collateral
USDC
USDC
Funding Interval
1h
1h
Airdrop Status
$LIT
$HYPE

Lighter — Pros & Cons

Pros

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

Cons

  • Fewer markets than competitors
  • Newer ecosystem
  • Limited collateral options

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
Trade on Lighter →Trade on Hyperliquid →

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