| FEATURE | DRIFT | LIGHTER |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0.035% | 0% |
| Maker Fee | -0.0025% | 0% |
| Max Leverage | 101x | 50x |
| Perp Pairs | 40 | 100 |
| Spot Trading | Yes | Yes |
| KYC Required | No | No |
| Rating | 2.0 | 4.2 |
Drift
PROS
- + Up to 101x leverage available on SOL, BTC, and ETH perpetual markets via High Leverage Mode
- + Maker rebates up to -0.0033% at VIP tier, meaning makers earn a rebate on each trade
- + Cross-collateral system lets any supported asset (USDT, SOL, JLP, etc.) serve as margin for any position
CONS
- − MAJOR EXPLOIT: $270M stolen on April 1-2, 2026 via Solana durable nonces — protocol under recovery, relaunch pending
- − Only available on Solana — users on other chains must bridge assets
- − High Leverage Mode (up to 101x) charges 2x the bottom taker fee tier
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 ~$3.75-4.58B daily volume as of January 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 ~$1-2B is significantly lower than Hyperliquid's $4B+ as of early 2026 — lower liquidity depth may mean worse fills for large orders
- − Only USDC and ETH accepted as collateral — no multi-collateral support like GMX; limited flexibility for users with other assets
Frequently Asked Questions
Is Drift or Lighter better?
Lighter has a higher rating (4.2 vs 2). Lighter offers lower fees (0% vs 0.035%). Choose Drift for higher leverage, and Lighter for lower fees.
What are the fees on Drift vs Lighter?
Drift charges 0.035% taker / -0.0025% maker. Lighter charges 0% taker / 0% maker for perpetuals.