| FEATURE | LIGHTER | PACIFICA |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0% | 0.04% |
| Maker Fee | 0% | 0.015% |
| Max Leverage | 50x | 50x |
| Perp Pairs | 211 | 77 |
| Spot Trading | Yes | Yes |
| KYC Required | No | No |
| Rating | 4.2 | 3.6 |
Lighter vs Pacifica: key differences
Opening and closing a $10,000 position with market orders costs $0 on Lighter and $8.00 on Pacifica at base-tier taker fees, a difference of $8.00 per round trip.
For limit orders, Lighter charges makers nothing, while Pacifica charges makers 0.015%.
Lighter lists 211 perpetual markets, Pacifica lists 77.
Lighter is the more liquid venue, with $511M in 24-hour volume against $297M on Pacifica. 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 USDC, SOL on Pacifica.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| Lighter | Pacifica | |
|---|---|---|
| Taker round trip on $10,000 | $0 | $8.00 |
| Maker round trip on $10,000 | $0 | $3.00 |
| Best-tier taker fee | 0.0196% | 0.028% |
| BTC max leverage | 50x | 50x |
| Margin modes | cross, isolated | cross, isolated |
| 24h volume | $511M | $297M |
| TVL | $768M | $27M |
| Custody | non-custodial | non-custodial |
| Collateral | USDC, ETH, XAUT | USDC, SOL |
| Deposit networks | Ethereum, Arbitrum One, Base +3 more | Solana |
| Minimum order | $10 | $10 |
| Order types | 9 | 12 |
| Options | No | No |
| Mobile app | Yes | Yes |
| Testnet or demo | No | Yes |
| Vaults or copy trading | No | Yes |
| Insurance fund | Yes | No |
| Audited | Yes | Yes |
| Restricted jurisdictions | 11 | 13 |
| Founded | 2022 | 2025 |
Choose Lighter if
- You mostly use market orders: 0% taker fee against 0.04% on Pacifica.
- You place limit orders: 0% maker fee against 0.015% on Pacifica.
- You trade smaller or newer markets: 211 perpetual pairs against 77.
- You trade size and need liquidity: $511M in 24-hour volume against $297M.
Choose Pacifica if
- Its feature set fits your workflow better; on the measured data points it does not beat Lighter.
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
Pacifica
PROS
- + Base perpetual fees of 0.015% maker and 0.04% taker, falling to 0% maker above 100 million dollars and 0.028% taker above 500 million dollars of 30-day volume
- + 77 perpetual markets in the API on October 4, 2026, including FX (EURUSD, USDJPY), commodities, US stocks, and SP500, with 50x leverage on BTC, ETH, EURUSD, and USDJPY
- + Wide order type set documented: market, limit, stop market, stop limit, TWAP from 1 minute to 24 hours, scale orders of up to 100 limit orders, OCO, and trailing stop
CONS
- − Restricted in the US, Canada, the UK, China, Russia, Ukraine, Cuba, Iran, Venezuela, Syria, North Korea, and the Philippines under the Terms of Use dated June 11, 2026, and VPN use to bypass the block is prohibited
- − The docs still describe a Closed Beta: account equity for deposits is capped at 500,000 dollars and withdrawals at 500,000 dollars per 24 hours
- − The docs publish one audit report (BlockSec, April 2025) and describe no insurance fund; losses beyond the backstop liquidator are covered by auto-deleveraging of profitable traders
Frequently Asked Questions
Is Lighter or Pacifica better?
Lighter has a higher rating (4.2 vs 3.6). Lighter offers lower fees (0% vs 0.04%). Choose Lighter for lower fees, and Pacifica for its features.
What are the fees on Lighter vs Pacifica?
Lighter charges 0% taker / 0% maker. Pacifica charges 0.04% taker / 0.015% maker for perpetuals.
Which has higher leverage, Lighter or Pacifica?
Lighter offers up to 50x, and Pacifica offers up to 50x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do Lighter and Pacifica require KYC?
Lighter does not require KYC. Pacifica does not require KYC. Both restrict some jurisdictions (Lighter lists 11; Pacifica lists 13), so check the terms of service for your country before depositing.
Is Lighter or Pacifica safer?
Lighter has been audited and runs an insurance fund, and custody is non-custodial. Pacifica has been audited and has no insurance fund on record here, 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 Pacifica?
Lighter recorded $511M in 24-hour volume and Pacifica recorded $297M, as of 2026-10-04. Lighter lists 211 perpetual markets and Pacifica lists 77.