| FEATURE | LIGHTER | EVEDEX |
|---|---|---|
| Type | DEX | HYBRID |
| Taker Fee | 0% | 0.045% |
| Maker Fee | 0% | 0.015% |
| Max Leverage | 50x | 200x |
| Perp Pairs | 211 | 52 |
| Spot Trading | Yes | No |
| KYC Required | No | No |
| Rating | 4.2 | 3.9 |
Lighter vs EVEDEX: key differences
Opening and closing a $10,000 position with market orders costs $0 on Lighter and $9.00 on EVEDEX at base-tier taker fees, a difference of $9.00 per round trip.
For limit orders, Lighter charges makers nothing, while EVEDEX charges makers 0.015%.
EVEDEX allows up to 200x leverage against 50x on Lighter. The headline figure usually applies to a few markets only, so check the limit on the pair you trade.
Lighter lists 211 perpetual markets, EVEDEX lists 52.
Lighter also has spot trading; EVEDEX is perpetuals only.
EVEDEX is the more liquid venue, with $709M in 24-hour volume against $511M on Lighter. Deeper books mean less slippage on large orders.
Neither exchange requires KYC: both are used by connecting a wallet.
Margin is posted in USDC, ETH, XAUT on Lighter and in USDT on EVEDEX.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| Lighter | EVEDEX | |
|---|---|---|
| Taker round trip on $10,000 | $0 | $9.00 |
| Maker round trip on $10,000 | $0 | $3.00 |
| Best-tier taker fee | 0.0196% | 0.0225% |
| BTC max leverage | 50x | 200x |
| Margin modes | cross, isolated | cross |
| 24h volume | $511M | $709M |
| TVL | $768M | $4M |
| Custody | non-custodial | non-custodial |
| Collateral | USDC, ETH, XAUT | USDT |
| Deposit networks | Ethereum, Arbitrum One, Base +3 more | Arbitrum, Base, Eventum (Arbitrum Orbit L3) +2 more |
| Minimum order | $10 | $5 |
| Order types | 9 | 5 |
| Options | No | No |
| Mobile app | Yes | Yes |
| Testnet or demo | No | Yes |
| Vaults or copy trading | No | Yes |
| Insurance fund | Yes | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 11 | 6 |
| Founded | 2022 | 2024 |
Choose Lighter if
- You mostly use market orders: 0% taker fee against 0.045% on EVEDEX.
- You place limit orders: 0% maker fee against 0.015% on EVEDEX.
- You trade smaller or newer markets: 211 perpetual pairs against 52.
- You want spot and perpetuals in one account.
- You want to post margin in more than one asset.
Choose EVEDEX if
- You want higher leverage: up to 200x against 50x.
- You trade size and need liquidity: $709M in 24-hour volume against $511M.
Lighter
PROS
- + Zero maker and taker fees for standard accounts on perpetual and spot markets; premium accounts pay 0.004% maker and 0.028% taker, falling to 0.0028% and 0.0196% with 500,000 LIT staked (30% discount)
- + Every order match, liquidation, and settlement is proven with ZK circuits on Lighter's own Ethereum rollup, and nine audit reports for the contracts and circuits are published in the docs
- + 211 active perpetual markets and 10 spot pairs (October 2026), with up to 50x leverage on BTC, ETH, EURUSD, GBPUSD, USDJPY, SPY, and US500
CONS
- − Restricted in the US, Canada, the UK, China, North Korea, Russia, Ukraine, Cuba, Iran, Venezuela, and Syria under the Terms of Service dated December 29, 2025, a list that includes the UK and Canada
- − Standard accounts trade free but with 300ms taker and cancel latency; the 140ms taker latency requires a premium account that pays 0.028% taker
- − Margin collateral beyond USDC is limited to ETH and XAUT at a 70% loan-to-value ratio, with per-user caps of 2,000 ETH and 500 XAUT
EVEDEX
PROS
- + No blockchain gas fees for trading: orders are matched off-chain and settled on the Eventum L3, and the minimum order value is 5 USDT
- + Up to 200x leverage on BTC, ETH and SOL perpetuals, with base fees of 0.045% taker and 0.015% maker on all 52 markets
- + Non-custodial: funds sit in user-controlled smart accounts and settle on-chain, and no KYC is required to trade
CONS
- − Perpetual futures only (52 pairs): spot is listed as coming soon and there are no options markets
- − Only USDT is accepted as collateral and only cross margin is available; isolated margin is still described as planned in the docs
- − TVL is about 3.7 million dollars on DeFiLlama, far below the largest perpetual DEXs, so large positions can face slippage
Frequently Asked Questions
Is Lighter or EVEDEX better?
Lighter has a higher rating (4.2 vs 3.9). Lighter offers lower fees (0% vs 0.045%). Choose Lighter for lower fees, and EVEDEX for higher leverage.
What are the fees on Lighter vs EVEDEX?
Lighter charges 0% taker / 0% maker. EVEDEX charges 0.045% taker / 0.015% maker for perpetuals.
Which has higher leverage, Lighter or EVEDEX?
Lighter offers up to 50x, and EVEDEX offers up to 200x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do Lighter and EVEDEX require KYC?
Lighter does not require KYC. EVEDEX does not require KYC. Both restrict some jurisdictions (Lighter lists 11; EVEDEX lists 6), so check the terms of service for your country before depositing.
Is Lighter or EVEDEX safer?
Lighter has been audited and runs an insurance fund, and custody is non-custodial. EVEDEX has been audited and runs an insurance fund, and custody is non-custodial. Neither audits nor insurance funds remove smart contract risk, so size deposits accordingly.
Which has more trading volume, Lighter or EVEDEX?
Lighter recorded $511M in 24-hour volume and EVEDEX recorded $709M, as of 2026-10-04. Lighter lists 211 perpetual markets and EVEDEX lists 52.