| FEATURE | LIGHTER | AVANTIS |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0% | 0.06% |
| Maker Fee | 0% | 0.06% |
| Max Leverage | 50x | 500x |
| Perp Pairs | 197 | 90 |
| Spot Trading | Yes | No |
| KYC Required | No | No |
| Rating | 4.2 | 3.5 |
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
Avantis
PROS
- + Zero-Fee Perpetuals: no opening, closing, or borrowing fees on losing trades — only a 2.5-10% profit share on winning positions
- + Fixed-fee perps cost just 6 bps (0.06%) opening and closing on BTC/ETH/SOL, and 8 bps (0.08%) on altcoins
- + 90+ markets from one account: 60+ crypto pairs plus 18+ forex pairs, commodities (gold, silver, WTI, Brent), indices (SPY, QQQ) and MAG7 equities
CONS
- − Single-chain deployment on Base only — traders on other networks must bridge assets in
- − USDC is the only accepted collateral, so holders of other stablecoins must convert first
- − Oracle- and keeper-based execution means dependency on Chainlink feed reliability during extreme volatility
Frequently Asked Questions
Is Lighter or Avantis better?
Lighter has a higher rating (4.2 vs 3.5). Lighter offers lower fees (0% vs 0.06%). Choose Lighter for lower fees, and Avantis for higher leverage.
What are the fees on Lighter vs Avantis?
Lighter charges 0% taker / 0% maker. Avantis charges 0.06% taker / 0.06% maker for perpetuals.