Lighter vs Aster: which is better?

Question

Accepted Answer

Both are perpetual DEXs, so let's compare them on what DefiLlama actually tracks for this category (24h fee revenue — derivatives/perp volume isn't freely available, so fees and revenue are the closest real usage proxy).

LighterTrade Now — AsterTrade Now

Lighter vs Aster

Metric (24h)	Lighter	Aster
Fees generated	~$399K	~$161K
Protocol revenue (its own cut)	~$372K	n/a
DefiLlama rank (derivatives)	#3	#7
Model	Orderbook perp DEX (zkLighter), verifiable matching & liquidations	Perp DEX, MEV-free, up to 1001x leverage
Notable	"Unmatched security and scale," exchange-grade performance	Backed by YZi Labs; one-click Simple Mode + pro tools
Chain	Lighter chain	BSC

Where they differ in practice:

Usage & traction — Lighter is generating ~2.5× the daily fees of Aster ($399K vs $161K), and DefiLlama ranks it #3 among perp DEXs versus Aster's #7. If you weight "live activity," Lighter has the edge right now.
Trading experience — Aster leans on high leverage (up to 1001x in Simple Mode) with MEV-free one-click trading, aimed at a broad/retail-friendly audience. Lighter positions itself around orderbook-style matching with verifiable liquidations — closer to a "CEX-grade" experience with a security/trust emphasis.
Revenue retention — Lighter keeps almost all of its fees as protocol revenue (~93%). Aster's revenue split wasn't reported.

Data caveat: trading volume isn't shown here — DefiLlama's perp volume figures require a paid plan; fees and revenue are the closest free proxy for usage.

Bottom line: there's no single "better" — Lighter is the more actively used, higher-fee-generating orderbook DEX today; Aster is a newer, higher-leverage (up to 1001x) venue with a strong backer (YZi Labs). Higher leverage cuts both ways — it amplifies risk just as much as reward.

Want me to dig deeper into either one — current price action, on-chain/security checks, or recent news?

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