Lighter
DEXOpen Interest
$104.82m-4.88%over 24h
Key Metrics
Volume (30d)$6.311b
7d$1.822b
24h$246.96m
All-time$21.977b
60.2x
Markets73
Reference assets73
Asset groups10
1.9%
Est. Fees (30d)$3.16m
24h$123,479
All-time$10.99m
$38.39m
Taker fee0 bps
Markets
| Market | Open Interest | Volume | Price | Funding | Est. Fees | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name | Asset Type | Access Model | Pair | Interval | ||||||||||||
| lighter:xauGold | Commodity Perp | Permissionless | $15.16m | -22.54% | $42.09m | $276.41m | $1.046b | XAU-USDC | $4,193 | +1.49% | 0% | +84.10% | 1h | 25x | $21,044 | $522,847 |
| lighter:spyState Street SPDR S&P 500 ETF Trust | ETF Perp | Permissionless | $6.54m | -3.54% | $8.44m | $58.52m | $214.69m | SPY-USDC | $776.58 | +0.03% | 0% | +28.03% | 1h | 50x | $4,222 | $107,343 |
| lighter:qqqInvesco QQQ Trust, Series 1 | ETF Perp | Permissionless | $4.85m | -13.89% | $8.86m | $70.2m | $236.16m | QQQ-USDC | $749.08 | -0.72% | 0% | +28.03% | 1h | 30.03x | $4,431 | $118,079 |
| lighter:xagSilver | Commodity Perp | Permissionless | $4.77m | +11.24% | $15.84m | $130.07m | $365.07m | XAG-USDC | $61.02 | +2.99% | 0% | +28.03% | 1h | 25x | $7,921 | $182,537 |
| lighter:intcIntel Corporation | Stock Perp | Permissionless | $4.7m | +196% | $7.18m | $23.24m | $56.36m | INTC-USDC | $105.89 | -3.81% | 0% | +568% | 1h | 10x | $3,592 | $28,178 |
| lighter:wtiCrude Oil (WTI) | Commodity Perp | Permissionless | $4.13m | -11.95% | $13.3m | $95.06m | $369.76m | WTI-USDC | $90.80 | -1.19% | 0% | -582% | 1h | 20x | $6,648 | $184,878 |
| lighter:sndkSandisk Corporation | Stock Perp | Permissionless | $3.68m | -13.09% | $15m | $118.75m | $362.51m | SNDK-USDC | $1,614 | -2.10% | 0% | +28.03% | 1h | 20x | $7,498 | $181,257 |
| lighter:nvdaNVIDIA Corporation | Stock Perp | Permissionless | $3.58m | -11.11% | $8.27m | $67.97m | $166.9m | NVDA-USDC | $230.98 | -2.15% | 0% | +28.03% | 1h | 20x | $4,135 | $83,449 |
| lighter:spcxSpace Exploration Technologies Corp. | Stock Perp | Permissionless | $3.27m | +2.32% | $11.25m | $62.43m | $166.37m | SPCX-USDC | $162.74 | -1.59% | 0% | +28.03% | 1h | 20x | $5,627 | $83,185 |
| lighter:skhynixusdSK hynix Inc. | Stock Perp | Permissionless | $3.06m | +16.63% | $3.33m | $28.08m | $116.87m | SKHYNIXUSD-USDC | $1,219 | -2.38% | 0% | -2,243% | 1h | 10x | $1,666 | $58,434 |
| lighter:mstrStrategy Inc | Stock Perp | Permissionless | $2.99m | +4.11% | $1.11m | $12.27m | $48.23m | MSTR-USDC | $156.07 | +3.47% | 0% | +28.03% | 1h | 10x | $556.07 | $24,114 |
| lighter:us500S&P 500 Index | Equity Perp | Permissionless | $2.9m | -12.71% | $8.29m | $66.67m | $280.7m | US500-USDC | $7,785 | +0.02% | 0% | +28.03% | 1h | 50x | $4,144 | $140,351 |
| lighter:brentoilCrude Oil (Brent) | Commodity Perp | Permissionless | $2.53m | -13.07% | $12.88m | $57.84m | $220.94m | BRENTOIL-USDC | $102.08 | -1.51% | 0% | -2,046% | 1h | 20x | $6,439 | $110,468 |
| lighter:us100Nasdaq-100 Index | Equity Index Perp | Permissionless | $2.44m | -4.82% | $24.7m | $258m | $1.132b | US100-USDC | $30,782 | -0.78% | 0% | +28.03% | 1h | 30.03x | $12,350 | $565,986 |
| lighter:googlAlphabet Inc. | Stock Perp | Permissionless | $2.26m | -7.41% | $2.79m | $33.68m | $107.16m | GOOGL-USDC | $352.33 | +0.07% | 0% | +28.03% | 1h | 20x | $1,396 | $53,579 |
| lighter:crclCircle Internet Group, Inc. | Stock Perp | Permissionless | $2.18m | -5.66% | $4.36m | $47.58m | $125.33m | CRCL-USDC | $84.65 | +5.47% | 0% | +28.03% | 1h | 10x | $2,178 | $62,663 |
| lighter:paxgPax Gold | Commodity Perp | Permissionless | $2.02m | +14.15% | $1.08m | $5.78m | $16.39m | PAXG-USDC | $4,186 | +1.32% | 0% | +84.10% | 1h | 25x | $539.39 | $8,193 |
| lighter:muMicron Technology, Inc. | Stock Perp | Permissionless | $2m | -3.85% | $4.93m | $43.75m | $134.87m | MU-USDC | $1,035 | -3.00% | 0% | +28.03% | 1h | 20x | $2,463 | $67,434 |
| lighter:eurusdEuro | Forex Perps | Permissionless | $1.96m | -0.33% | $327,906 | $4.82m | $15.13m | EURUSD-USDC | $1.12 | -0.04% | 0% | 0% | 1h | 50x | $163.95 | $7,565 |
| lighter:anthropicAnthropic | PE Perp | Permissionless | $1.83m | +0.20% | $2.34m | $7.92m | $74.49m | ANTHROPIC-USDC | $2,124 | -1.00% | 0% | 0% | 1h | 5x | $1,168 | $37,243 |
| lighter:metaMeta Platforms, Inc. | Stock Perp | Permissionless | $1.83m | -6.71% | $2.42m | $21.04m | $77.4m | META-USDC | $719.79 | -0.24% | 0% | +28.03% | 1h | 20x | $1,212 | $38,699 |
| lighter:samsungusdSamsung Electronics Co., Ltd. | Stock Perp | Permissionless | $1.74m | -3.91% | $2.14m | $16.96m | $85.33m | SAMSUNGUSD-USDC | $191.98 | -1.46% | 0% | -1,710% | 1h | 10x | $1,070 | $42,666 |
| lighter:aaplApple Inc. | Stock Perp | Permissionless | $1.69m | -15.39% | $6.46m | $38.42m | $94.49m | AAPL-USDC | $333.15 | -1.06% | 0% | +28.03% | 1h | 20x | $3,228 | $47,247 |
About Lighter
Lighter is a verifiable zero-fee perpetual contract DEX built as a custom ZK-rollup on Ethereum, founded by Vladimir Novakovski (former Citadel quant). The protocol generates ZK proofs of all order matching and liquidations and operates a fully on-chain order book targeting CEX-grade execution. Markets cover equities, ETFs, equity indices, and commodities alongside crypto, with positions margined and cash-settled in USDC. Lighter began ZK-rollup development in 2023, launched mainnet in October 2024, and raised $68M at a $1.5B valuation in November 2025 from Founders Fund, Ribbit Capital, Haun Ventures, and Robinhood.
Entity
Legal entityLighter Labs
Primary chainEthereum
Registry
Lighter Labs was founded by Vladimir Novakovski, formerly a quantitative engineer/trader at Citadel. The team began developing its own ZK-rollup in 2023; mainnet launched in October 2024 and the company raised $68M at a $1.5B valuation in November 2025 from Founders Fund, Ribbit Capital, Haun Ventures, and Robinhood (a rare strategic investment from the broker).
Markets
Open interest by asset group
Asset classes
Fees & revenue
Revenue modelMaker/Taker Fees
ConfidenceIssuer-Disclosed
Perp maker fee0 bps
Perp taker fee0 bps
Perp funding retention0%
Margin settlement assetsUSDC (Lighter ZK-rollup)
Fees last verified2026-05-11
Lighter perpetuals are FREE to trade for standard accounts (0 bps maker / 0 bps taker). Premium accounts (lower latency tier) pay 0.2 bps maker / 2 bps taker. Premium accounts can stake LIT for further fee discounts. Lighter is a zk-rollup perp DEX with no separate RWA fee tier — same fees apply to crypto and RWA markets. Source: https://docs.lighter.xyz/perpetual-futures/fees