Aster vs Lighter: which is better?

Here's a direct comparison of the two perp DEXs. Note that DefiLlama doesn't publish derivatives trading volume (it needs a paid plan), so fees and revenue are the best free usage proxy.

Aster vs Lighter — side by side

Key difference in positioning: Lighter is a zk-powered orderbook DEX — its whole pitch is verifiable matching and liquidations (you can cryptographically verify the exchange did things correctly) with traditional-exchange-level performance. It's pulling roughly 2.5× the daily fee revenue of Aster, which is the strongest signal in the data that it has more actual trading flow right now.

Aster is positioned more for retail simplicity and flashy features — up to 1001x leverage in Simple Mode and a Pro Mode for advanced traders. Backed by YZi Labs. Lighter's numbers (higher fees, near-100% of fees kept as revenue) suggest it's the more heavily used of the two today.

What the data can't tell you: neither reports TVL, and no volume figures are available, so "more fees = better" is only a usage indicator — not a recommendation. Which one fits you depends on what you want: if you value verifiable/auditable execution and pro-grade orderbook depth, that's Lighter's strength; if you want simple one-click high-leverage trading, that's Aster's.

• AsterTrade Now — high-leverage Simple Mode + Pro tools
• LighterTrade Now — zk-verified orderbook perps

Both are real, live perp DEXs — just pick based on the style of trading you want, not on the raw fee numbers alone.

Also tracked: FomoDownload App, GMTradeTrade Now, edgeXTrade Now, GMXTrade Now.