GMX vs Lighter Comparison
| 0.04% maker / 0.06% taker (V2) | Fees | Free for standard accounts; premium 0.004% / 0.028% |
GMX
vs
LighterWinner
Pros & Cons
Pros
- Trading against a liquidity pool — no order-book slippage
- Oracle-based pricing
- 100+ perpetual contracts at up to 100x leverage
- Live on several chains, centred on Arbitrum
- Long operating history in DeFi
Cons
- More expensive than fee-free order-book competitors
- Ongoing funding costs weigh on longer holding periods
- Dependence on oracle pricing as a structural risk factor
- No EU authorisation
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
4.3Usability4.6
4.0Features4.6
3.8Fees5.0
4.4Stability4.4
3.5Support3.5
Features
- Pool-based model instead of an order book
- No conventional slippage
- Leverage up to 100x
- Established protocol on Arbitrum
- Fee-free trading for standard accounts
- Application-specific zk-rollup rather than a general-purpose chain
- Cryptographically verifiable matching
- Discount through LIT staking
Details
GMXLighter
| GMX Protocol | Company | Lighter Labs |
| Decentralised, no registered office | Headquarters | Unknown (Team Pseudonymous) |