| FEATURE | EVEDEX | LIGHTER |
|---|---|---|
| Type | HYBRID | DEX |
| Taker Fee | 0.045% | 0% |
| Maker Fee | 0.015% | 0% |
| Max Leverage | 100x | 50x |
| Perp Pairs | 48 | 100 |
| Spot Trading | No | Yes |
| KYC Required | No | No |
| Rating | 3.9 | 4.2 |
EVEDEX
PROS
- + Zero blockchain gas fees for trading — orders matched off-chain on Eventum L3 with ~$0.01 settlement costs
- + Up to 100x leverage on BTC and major perpetual pairs with competitive 0.045% taker / 0.015% maker base fees
- + Non-custodial: funds remain in user-controlled smart contracts, eliminating counterparty risk
CONS
- − No spot or options markets — EVEDEX is perpetual-futures only (around 48 perp pairs such as BTC, ETH, SOL, XRP, LTC, LINK, DOGE)
- − Only USDT accepted as collateral — no multi-collateral support for diversified margin
- − Cross margin only — isolated margin is still on the roadmap, limiting per-position risk control
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 ~$1.1B daily perp volume as of mid-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
- − 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 EVEDEX or Lighter better?
Lighter has a higher rating (4.2 vs 3.9). Lighter offers lower fees (0% vs 0.045%). Choose EVEDEX for higher leverage, and Lighter for lower fees.
What are the fees on EVEDEX vs Lighter?
EVEDEX charges 0.045% taker / 0.015% maker. Lighter charges 0% taker / 0% maker for perpetuals.