What are the best Lighter alternatives?

Here's how Lighter's competitors stack up, ranked by 24h fee revenue (the closest free proxy for real usage — trading volume isn't shown here because DefiLlama's perp-volume data requires a paid plan; fees and revenue are what's freely available).

Lighter itself sits at #3 in this market-wide data, so the main alternatives are the two above it and the cluster below it.

Ranked list (per DefiLlama, 24h fee revenue):

1. Hyperliquid — the market leader by a wide margin. L1 purpose-built for perps. ~$4.14M daily fees, ~$3.32M protocol revenue.
2. Jupiter Perp — LP-to-trader perp model on Solana, oracle-priced. $750M TVL (by far the deepest here), $631K fees, $158K revenue.
3. Lighter — orderbook-based, verifiable matching/liquidations. ~$399K fees. (Your reference point.)
4. edgeX — orderbook-based like Lighter, but higher-leverage/performance-focused. ~$194K fees, $145K revenue.
5. Pacifica — Solana perp DEX with advanced order types/APIs. ~$177K fees, $26.6M TVL.
6. GMTrade — Solana perp DEX covering crypto + RWA markets, isolated liquidity pools. ~$173K fees, $31.7M TVL.
7. Aster — up to 1001x in Simple Mode, pro tools in Pro Mode, backed by YZi Labs. ~$161K fees.
8. AZverse — shared-liquidity DEX infrastructure across multiple chains. ~$116K fees, $51.8M TVL.

Quick read: if what you value about Lighter is the orderbook experience, edgeX is the closest direct analogue ranked just below it. If you'd rather go where usage is highest, Hyperliquid (#1) and Jupiter (deepest liquidity, Solana) are the scale options. Pacifica, GMTrade, and Aster are the smaller, higher-risk Solana/BSC alternatives.

This is comparison data, not a recommendation — worth noting most of these are unaudited-by-reputation newer protocols with varying TVL depth. Want me to pull on-chain details or a full project report on any specific one?

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