Side-by-side comparison of two perpetual futures exchanges — updated in real time.
Lighter and SynFutures both offer zero maker fees and on-chain execution, but Lighter eliminates all fees while SynFutures provides far more markets through permissionless listing on Base.
Lighter's on-chain orderbook on Ethereum L2 charges zero fees for all trades (maker and taker) across 153 markets with 20x leverage. SynFutures' Oyster AMM on Base charges 0% maker but 0.05% taker fee across 280 markets with up to 100x leverage. Both platforms use USDC as collateral and 1-hour funding intervals. The key differences are clear: Lighter eliminates all trading costs but limits leverage to 20x, while SynFutures charges takers 0.05% but offers 5x more leverage. SynFutures lists 280 markets through its permissionless creation model — nearly double Lighter's 153. SynFutures' Oyster AMM allows concentrated liquidity provision, creating earning opportunities for LPs. SynFutures has raised $38M+ from Pantera Capital, Polychain Capital, and Dragonfly, while Lighter has built with less public funding. Both tokens are live: F (28.5% community) and LIT (50% community, launched December 2025).
Choose Lighter if zero trading fees are non-negotiable and 20x leverage meets your needs. Choose SynFutures for 5x more leverage, nearly twice the market selection, and concentrated liquidity earning opportunities through the Oyster AMM.
