| FEATURE | GRVT | LIGHTER |
|---|---|---|
| Type | HYBRID | DEX |
| Taker Fee | 0.045% | 0% |
| Maker Fee | -0.0001% | 0% |
| Max Leverage | 50x | 50x |
| Perp Pairs | 96 | 100 |
| Spot Trading | No | Yes |
| KYC Required | Yes | No |
| Rating | 4.5 | 4.2 |
GRVT
PROS
- + Negative maker fees across all tiers, starting at -0.0001% at Level 1 and reaching -0.003% at Level 9 — traders earn rebates for providing liquidity
- + Sub-millisecond execution with up to 600,000 TPS on custom ZKsync Validium appchain, rivaling centralized exchange performance
- + Non-custodial smart account wallet eliminates counterparty risk — all settlements verified onchain via zero-knowledge proofs on Ethereum L1
CONS
- − KYC required via ComplyCube (document verification + biometrics) — unlike most DEXs, anonymous trading is not possible
- − Only USDT as trading collateral — no multi-collateral support with BTC, ETH, or stablecoins like USDC yet
- − Restricted in 9 jurisdictions including the US, Singapore, Hong Kong, Cuba, Iran, and North Korea
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 GRVT or Lighter better?
GRVT has a higher rating (4.5 vs 4.2). Lighter offers lower fees (0% vs 0.045%). Choose GRVT for its features, and Lighter for lower fees.
What are the fees on GRVT vs Lighter?
GRVT charges 0.045% taker / -0.0001% maker. Lighter charges 0% taker / 0% maker for perpetuals.