ApeX Protocol vs Lighter Comparison
| 0.02% maker / 0.05% taker | Fees | Free for standard accounts; premium 0.004% / 0.028% |
ApeX Protocol
vs
LighterWinner
Pros & Cons
Pros
- No gas costs for users
- Perpetuals on equities, commodities and prediction markets too
- Around 90 crypto perpetuals, up to 100x leverage on BTC and ETH
- Operating since 2022 with no known loss of user funds
- Well-known backers
Cons
- Considerably lower volume than the market leaders
- Thinner order books in secondary markets
- No EU authorisation
- Support runs through community channels
Pros
- Fee-free trading for standard accounts
- Execution and liquidations verifiable via zero-knowledge proofs
- Anchored to Ethereum with an escape hatch if the sequencer misbehaves
- Order types including TWAP and conditional orders
- No KYC
Cons
- Pseudonymous team, no publicly stated place of business
- No EU authorisation
- Young platform — mainnet only since October 2025
- Support runs through community channels
Score Comparison
4.4Usability4.6
4.1Features4.6
4.3Fees5.0
4.2Stability4.4
3.5Support3.5
Features
- No gas costs
- Crypto, equity and commodity perpetuals in one interface
- Operating since 2022 without a known security incident
- Up to 100x leverage on the main markets
- Fee-free trading for standard accounts
- Application-specific zk-rollup rather than a general-purpose chain
- Cryptographically verifiable matching
- Discount through LIT staking
Details
ApeX ProtocolLighter
| ApeX Protocol (by Bybit) | Company | Lighter Labs |
| Singapore | Headquarters | Unknown (Team Pseudonymous) |