Measured verdict: On September 23, 2026, at 18:55 UTC, Lighter cost less than Aster for a $10,000 BTC market buy: 0.31 bps against 4.59 bps. For a $1,000,000 BTC market buy, Lighter cost less than Aster: 1.17 bps against 5.03 bps. Lighter cost less in all 6 BTC and ETH order sizes where both venues had a rank. Read our verdict
Measured cost of a market buy
| Order | Lighter | Aster |
|---|---|---|
| BTC $10,000 | 0.31 bps ($0.31)Rank 1 of 43✓ | 4.59 bps ($4.59)Rank 15 of 43 |
| BTC $100,000 | 0.38 bps ($3.76)Rank 1 of 42✓ | 4.77 bps ($47.75)Rank 12 of 42 |
| BTC $1,000,000 | 1.17 bps ($116.83)Rank 1 of 38✓ | 5.03 bps ($502.63)Rank 6 of 38 |
| ETH $10,000 | 0.35 bps ($0.35)Rank 1 of 43✓ | 4.34 bps ($4.34)Rank 11 of 43 |
| ETH $100,000 | 0.85 bps ($8.48)Rank 1 of 43✓ | 4.84 bps ($48.44)Rank 12 of 43 |
| ETH $1,000,000 | 1.43 bps ($143.35)Rank 1 of 36✓ | 6.27 bps ($627.22)Rank 11 of 36 |
Fees, funding and market data
| Item | Lighter | Aster |
|---|---|---|
| Taker fee, base tier | 0%✓Read Sep 23, 2026 | 0.040%Read Sep 23, 2026 |
| Maker fee, base tier | 0%Read Sep 23, 2026 | 0%Read Sep 23, 2026 |
| Maximum leverage | 50x on BTC and ETHRead Sep 23, 2026 | 200x on BTC up to a $400 position; 150x up to $300,000Read Sep 23, 2026 |
| Chain and settlement | ZK rollup anchored to EthereumRead Sep 23, 2026 | Own layer 1 (Aster Chain); bridges from BNB Chain, Ethereum, Arbitrum, Solana, SUIRead Sep 23, 2026 |
| Custody of funds | Ethereum contracts; escape hatch to EthereumRead Sep 23, 2026 | Aster validators sign deposits and withdrawals; no forced withdrawal describedRead Sep 23, 2026 |
| Exit path in docs | Escape hatch on Ethereum✓ | None described |
| Deposit networks | Ethereum contracts | BNB Chain, Ethereum, Arbitrum, Solana, SUI✓ |
| Audit scope in docs | Core and deposit bridge✓ | Deposit vault, earn and token products |
| BTC funding rate | 0.0012% per 1hSeptember 23, 2026, 21:51 UTC · interval | 0.0023% per 8hSeptember 23, 2026, 21:51 UTC |
| ETH funding rate | 0.0012% per 1hSeptember 23, 2026, 21:51 UTC · interval | 0.0054% per 8hSeptember 23, 2026, 21:51 UTC |
| BTC perp open interest | $179.4mSeptember 23, 2026, 21:51 UTC | Not collected |
| ETH perp open interest | $113.5mSeptember 23, 2026, 21:51 UTC | Not collected |
| Reported 24h volume | $1.55bSep 23, 2026 | $1.53bSep 23, 2026 |
A zero fee against a low fee
A Lighter standard account pays no maker fee and no taker fee, per the Lighter fee page. Aster charges 0% maker and 0.04% taker on general crypto pairs, per the Aster fee page. Makers pay nothing on either venue at the base tier. The difference is the taker fee and the depth of each book.
Funding math
Lighter pays funding at each hour mark and clamps it at 0.5% per hour. Aster uses an 8-hour interval by default, per its funding page. The BTCUSDT cap is 0.3% for each 8-hour interval. An Aster rate covers eight Lighter periods. Put both rates on one period length before you compare carry cost. Aster also states that it can change the interval without notice.
Exit and custody
Lighter documents an escape hatch. If its sequencer fails, users can rebuild their balances from data on Ethereum and withdraw there. Aster validators sign each withdrawal, and only Aster runs validators in Phase 1. The Aster docs describe no exit path for an outage.
Networks
Aster runs its own layer 1 and lists deposit bridges from BNB Chain, Ethereum, Arbitrum and Solana on its chain overview. Lighter deposits settle through its Ethereum contracts.
Which one fits which trader
A taker who sends small market orders sees the fee gap most clearly, because the fee is a large part of a small order. A trader who holds a position for weeks should look at the funding rows first.
Lighter vs Aster FAQ
Is Lighter or Aster cheaper for market orders?
A Lighter standard account pays no taker fee. Aster charges 0.04% on general crypto pairs. The measured table adds spread and price impact for BTC and ETH.
How do I compare Lighter and Aster funding rates?
Lighter quotes funding per hour. Aster quotes it per 8 hours by default. Divide the Aster rate by 8 first.
Does Aster have an escape hatch like Lighter?
The Aster docs describe no exit path for an outage, and Aster validators sign each withdrawal. Lighter documents withdrawals on Ethereum from posted data.
Verdict
Lighter has no taker fee on standard accounts and a documented exit to Ethereum. Aster charges a 0.04% taker fee and uses 8-hour funding by default. The measured rows show whether the book cost changes that picture at your size.