| FEATURE | LIGHTER | STANDX |
|---|---|---|
| Type | DEX | DEX |
| Taker Fee | 0% | 0.04% |
| Maker Fee | 0% | 0.01% |
| Max Leverage | 50x | 40x |
| Perp Pairs | 211 | 13 |
| Spot Trading | Yes | No |
| KYC Required | No | No |
| Rating | 4.2 | 3.5 |
Lighter vs StandX: key differences
Opening and closing a $10,000 position with market orders costs $0 on Lighter and $8.00 on StandX at base-tier taker fees, a difference of $8.00 per round trip.
For limit orders, Lighter charges makers nothing, while StandX charges makers 0.01%.
Lighter allows up to 50x leverage against 40x on StandX. The headline figure usually applies to a few markets only, so check the limit on the pair you trade.
Lighter lists 211 perpetual markets, StandX lists 13.
Lighter also has spot trading; StandX is perpetuals only.
Lighter is the more liquid venue, with $511M in 24-hour volume against $322M on StandX. 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 DUSD on StandX.
Figures as of 2026-10-04, from each exchange's documentation, CoinGecko and DeFiLlama.
Costs, liquidity and safety in detail
| Lighter | StandX | |
|---|---|---|
| Taker round trip on $10,000 | $0 | $8.00 |
| Maker round trip on $10,000 | $0 | $2.00 |
| Best-tier taker fee | 0.0196% | 0.04% |
| BTC max leverage | 50x | 40x |
| Margin modes | cross, isolated | cross, isolated |
| 24h volume | $511M | $322M |
| TVL | $768M | $26M |
| Custody | non-custodial | hybrid |
| Collateral | USDC, ETH, XAUT | DUSD |
| Deposit networks | Ethereum, Arbitrum One, Base +3 more | BNB Chain, Solana |
| Minimum order | $10 | — |
| Order types | 9 | 7 |
| Options | No | No |
| Mobile app | Yes | No |
| Testnet or demo | No | No |
| Vaults or copy trading | No | No |
| Insurance fund | Yes | Yes |
| Audited | Yes | Yes |
| Restricted jurisdictions | 11 | 35 |
| Founded | 2022 | 2024 |
Choose Lighter if
- You mostly use market orders: 0% taker fee against 0.04% on StandX.
- You place limit orders: 0% maker fee against 0.01% on StandX.
- You want higher leverage: up to 50x against 40x.
- You trade smaller or newer markets: 211 perpetual pairs against 13.
- You trade size and need liquidity: $511M in 24-hour volume against $322M.
- You want spot and perpetuals in one account.
Choose StandX 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
StandX
PROS
- + Flat fees of 0.01% maker and 0.04% taker on all 13 markets, confirmed by both the StandX fee page and the public API
- + Margin is held in DUSD, which earns yield from staking and funding payments while it sits in the Perps Wallet, with no staking step
- + Up to 40x leverage on BTC, ETH, gold (XAU), silver (XAG), and crude oil (CL), with cross and isolated margin modes
CONS
- − Only 13 perpetual markets as of October 4, 2026, and no spot trading
- − DUSD is the only collateral, and redeeming it for USDT or USDC through StandX has a 7-day lock and a protocol fee; the faster exit is a swap on PancakeSwap or Raydium at the market price
- − 24-hour volume of about 322 million dollars against open interest of about 44 million dollars (CoinGecko, October 4, 2026) is a ratio above 7 to 1 while a points program rewards trading, and the StandX docs still cite roughly 700 million dollars of daily volume
Frequently Asked Questions
Is Lighter or StandX better?
Lighter has a higher rating (4.2 vs 3.5). Lighter offers lower fees (0% vs 0.04%). Choose Lighter for lower fees, and StandX for its features.
What are the fees on Lighter vs StandX?
Lighter charges 0% taker / 0% maker. StandX charges 0.04% taker / 0.01% maker for perpetuals.
Which has higher leverage, Lighter or StandX?
Lighter offers up to 50x, and StandX offers up to 40x. Maximum leverage applies to selected markets and falls as position size grows on both exchanges.
Do Lighter and StandX require KYC?
Lighter does not require KYC. StandX does not require KYC. Both restrict some jurisdictions (Lighter lists 11; StandX lists 35), so check the terms of service for your country before depositing.
Is Lighter or StandX safer?
Lighter has been audited and runs an insurance fund, and custody is non-custodial. StandX has been audited and runs an insurance fund, and custody is hybrid. Neither audits nor insurance funds remove smart contract risk, so size deposits accordingly.
Which has more trading volume, Lighter or StandX?
Lighter recorded $511M in 24-hour volume and StandX recorded $322M, as of 2026-10-04. Lighter lists 211 perpetual markets and StandX lists 13.