Lighter vs Extended
Same lines, side by side: fees, leverage, markets, KYC, custody and referral perks, from official pages and DefiLlama.
See the 12 differences
| Line | Lighter | Extended |
|---|---|---|
| 30-day volume | Edge#03 · $52,570.0M | #09 · $7,288.0M |
| Trading fees | Edge0% maker · 0% takerStandard accounts, the default, pay no maker or taker fee on regular perp and spot orders, at the cost of slower matching (300ms taker latency), but 1 bp (0.01%) on TWAP/advanced orders and RFQ. Premium/Advanced accounts are opt-in and get faster matching: 0.0040% maker and 0.0280% taker with no LIT staked, reduced by staking LIT. | 0.025% taker · 0% makerA flat schedule for perps and spot: 0.025% taker, 0% maker, with RWA markets discounted to 0.010% taker. Makers whose share of total maker volume reaches 0.5% receive a 0.002% rebate, rising to 0.010% above 5% market share; rebates are automatic and paid daily at 00:00 UTC. |
| New-user perk | A 10% discount on the fees you pay, rebated every Monday | From TGE, 10% off trading fees for the first $25M of volume or 30 days from signup, whichever comes first |
| Max leverage | up to 50× | Edgeup to 100× |
| Perp markets | Edge210 | 100 |
| Identity check (KYC) | No KYC | No KYC |
| Custody | Non-custodial: Ethereum contracts hold the state root, escape hatch available | Non-custodial: funds stay in on-chain contracts on Arc |
| Settles on | Lighter Core (ZK rollup anchored on Ethereum) | Arc (Circle's L1) |
| Collateral | USDC | USDC, cirBTC, ETH |
| Where it runs | Web | Web |
| Chains | EVMEthereum | EdgeEVMEthereum, Arbitrum, Base, Arc, Polygon, Avalanche, BNB Chain |
| Documented features | Edge8 of 10 | 6 of 10 |
| Order book | Yes | Yes |
| Cross margin | Yes | Yes |
| Spot trading | Yes | Yes |
| Vaults / copy vaults | Yes | Yes |
| Copy trading | Not documented | Not documented |
| Stocks, gold or forex | Yes | Yes |
| Points program | Yes | No |
| API | Yes | Yes |
| Mobile app | Yes | Not documented |
| Telegram bot | No | Not documented |
Which one should you pick?
Pick Lighter if
Fees are your main cost and you accept slightly slower fills to keep them at zero.
Regular orders are free by default on Lighter, and the venue anchors its state root on Ethereum with a documented escape hatch. The catch is that free matching is slower, and the paid Premium tier exists above it.
Read the Lighter reviewSign up through this link: A 10% discount on the fees you pay, rebated every Monday.
Affiliate link
Pick Extended if
Fee level is your deciding criterion and you want crypto and RWA markets on the same account.
The cheapest taker fee in the series at 0.025%, on a venue built by an ex-Revolut team that settles entirely on Arc, the L1 developed by Circle. Deposits are accepted from seven EVM chains in USDC, ETH or cirBTC, which removes the usual bridging detour.
Read the Extended reviewapp.extended.exchange
