Measured cost of a market buy
| Order | Lighter | Aster |
|---|---|---|
| BTC $10,000 | 0.44 bps ($0.44)Rank 1 of 38✓ | 4.11 bps ($4.11)Rank 11 of 38 |
| BTC $100,000 | 0.51 bps ($5.12)Rank 1 of 37✓ | 4.37 bps ($43.68)Rank 9 of 37 |
| BTC $1,000,000 | 0.78 bps ($77.59)Rank 1 of 33✓ | 4.60 bps ($460.08)Rank 4 of 33 |
| ETH $10,000 | 0.59 bps ($0.59)Rank 1 of 39✓ | 4.08 bps ($4.08)Rank 10 of 39 |
| ETH $100,000 | 0.54 bps ($5.35)Rank 1 of 38✓ | 4.31 bps ($43.06)Rank 8 of 38 |
| ETH $1,000,000 | 1.52 bps ($151.82)Rank 1 of 33✓ | 4.81 bps ($480.66)Rank 5 of 33 |
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.
Fees, funding and market data
| Item | Lighter | Aster |
|---|---|---|
| Taker fee, base tier | 0%✓ | 0.040% |
| Maker fee, base tier | 0% | 0% |
| Maximum leverage | 50x on BTC and ETH | 200x on BTC up to a $400 position; 150x up to $300,000 |
| Chain and settlement | ZK rollup anchored to Ethereum | Own layer 1 (Aster Chain); bridges from BNB Chain, Ethereum, Arbitrum, Solana, SUI |
| Custody of funds | Ethereum contracts; escape hatch to Ethereum | Aster validators sign deposits and withdrawals; no forced withdrawal described |
| 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 1hOctober 16, 2026, 07:37 UTC · interval | 0.0090% per 8hOctober 16, 2026, 07:37 UTC |
| ETH funding rate | 0.0012% per 1hOctober 16, 2026, 07:37 UTC · interval | 0.0057% per 8hOctober 16, 2026, 07:37 UTC |
| BTC perp open interest | $161.4mOctober 16, 2026, 07:37 UTC | Not collected |
| ETH perp open interest | $74.3mOctober 16, 2026, 07:37 UTC | Not collected |
| Reported 24h volume | $2.05bOct 16, 2026 | $2.65bOct 16, 2026 |
- Lighter
- fees, leverage, settlement and custody
- Aster
- fees, leverage, settlement and custody
Each fee, leverage, settlement and custody value comes from the official page named here. PerpFinder read every page on Sep 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.
Lighter and Aster book depth
A $1,000,000 BTC market buy moved the Lighter book more. Spread and impact cost 0.78 bps there and 0.60 bps on Aster. For ETH, Aster kept the lower book cost: 0.81 bps, with 1.52 bps on Lighter. A hundred times the order size added 0.34 bps of book cost on Lighter and 0.49 bps on Aster, from $10,000 to $1,000,000 of BTC.
Audits and incidents on record
The Lighter audit page names Nethermind (Lighter Core and EVM deposit bridge). PerpFinder found no official Lighter incident report.
The Aster audit page names Salus Security (deposit vault, earn contract, asBNB, asCAKE), PeckShield (asBNB, USDF) and Halborn (USDF, asUSDF). In September 2025, Aster reported this: Abnormal price movement on the XPL perpetual pair (Aster post).
Who can open an account
Both venues bar persons in the United States, the United Kingdom and Canada.
| Jurisdiction | Lighter | Aster |
|---|---|---|
| United States | Not available | Not available |
| United Kingdom | Not available | Not available |
| EU and EEA | Not named | Not named |
| Canada | Not available | Not available |
| Identity documents | Not asked in the interface | Not stated |
Lighter states that a user interacts with the Protocol only through a public wallet address, not identity documents. Aster terms permit identity checks for compliance but do not state whether they are mandatory.
A country that the terms do not name is not a permission. Check your local law before you open an account.
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.