Hyperliquid vs Lighter Comparison
| 0.015% maker / 0.045% taker | Fees | Free for standard accounts; premium 0.004% / 0.028% |
Hyperliquid
vs
Lighter
Pros & Cons
Pros
- Order book held fully on-chain on a purpose-built layer 1
- CEX-level fees from 0.015% maker / 0.045% taker
- No network fees on trades
- 170+ perpetual markets with order types including TWAP
- Self-custody, no mandatory KYC
Cons
- No EU authorisation and no regulated counterparty
- Support runs through community channels only
- Leverage is capped tightly on smaller markets — headline figures apply to major markets only
- Tax reporting rests entirely with the user
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
4.8Usability4.6
4.8Features4.6
4.7Fees5.0
4.6Stability4.4
3.8Support3.5
Features
- Largest perpetual DEX by trading volume
- Purpose-built layer 1 rather than a rollup dependency
- Fee discount through HYPE staking
- TWAP orders available to retail users
- Fee-free trading for standard accounts
- Application-specific zk-rollup rather than a general-purpose chain
- Cryptographically verifiable matching
- Discount through LIT staking
Details
HyperliquidLighter
| Hyperliquid Labs | Company | Lighter Labs |
| United States | Headquarters | Unknown (Team Pseudonymous) |