| FEATURE | AEVO | LIGHTER |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.08% | 0% |
| Maker Fee | 0.05% | 0% |
| Max Leverage | 20x | 50x |
| Perp Pairs | 144 | 197 |
| Spot Trading | No | Yes |
| KYC Required | No | No |
| Rating | 4.2 | 4.2 |
Aevo
PROS
- + Rare on-chain options markets alongside 144 perpetual pairs — one of the only DEXs offering vanilla options and perps under a single unified margin account
- + Competitive perpetual fees of 0.08% taker / 0.05% maker, with options at 0.05% / 0.03% and up to a 20% fee discount for AEVO stakers
- + No KYC required — non-custodial trading by connecting any EVM wallet, accessible globally except the US, Canada, and China
CONS
- − Maximum 20x leverage on perpetuals is well below competitors like GMX (100x) and Avantis (500x), limiting appeal for high-leverage traders
- − TVL of roughly $15M is far smaller than leading perpetual DEXs such as Hyperliquid, which can reduce depth on lower-volume pairs
- − The full 20% fee discount requires staking AEVO with lock-ups of up to 12 months, so casual traders pay standard rates
Lighter
PROS
- + Zero trading fees for standard accounts — all retail makers and takers trade free; premium accounts pay only 0.004% maker / 0.028% taker with up to 30% discount via LIT staking (maker fees as low as 0.0028%, taker as low as 0.0196% at max tier)
- + ZK-proof verified trading: every order match, liquidation, and settlement is cryptographically proven via custom ZK circuits — no other perp DEX offers this level of on-chain verifiability
- + Massive trading volume: $232B in 30-day volume before TGE and ~$883M daily perp volume as of July 2026, making it one of the deepest liquidity pools for perp trading
CONS
- − Restricted in US, Canada, UK, China, Russia, Ukraine, North Korea, Cuba, Iran, Venezuela, and Syria — a broader exclusion list than most perp DEXs including the UK
- − TVL of ~$523M (DeFiLlama, July 2026) is well below Hyperliquid's multi-billion-dollar TVL — thinner liquidity depth may mean worse fills for very large orders
- − Multi-asset margin is still early — only USDC and ETH are accepted as collateral, with broader asset support rolling out gradually; less flexible than GMX for users holding other tokens
Frequently Asked Questions
Is Aevo or Lighter better?
Both exchanges are rated 4.2. Lighter offers lower fees (0% vs 0.08%). Choose Aevo for its features, and Lighter for lower fees.
What are the fees on Aevo vs Lighter?
Aevo charges 0.08% taker / 0.05% maker. Lighter charges 0% taker / 0% maker for perpetuals.