How Vertex and Lighter differ on chain, volume, fees and model.
| Vertex | Lighter | |
|---|---|---|
| Type | Hybrid CLOB + AMM | zk perp DEX |
| Chain | Arbitrum, Mantle | zk rollup |
| How it works | Vertex combines an on-chain order book with an off-chain sequencer for fast matching and an AMM backstop for guaranteed execution, settling on Arbitrum/Mantle. ~30 markets, very low fees (taker 0.02%, maker 0%). | A zero-knowledge-proven order-book DEX that charges retail zero trading fees, earning revenue from its liquidity pool plus mandatory 1:10 LIT staking. ~248k active addresses, TVL ~$1B. |
| Scale* | ~$100–200M/day | ~$25B/wk · zero-fee |
| Max leverage | up to 20x | high |
| Best for | Low-fee hybrid execution | Fee-free retail perps |
Pick Vertex for low-fee hybrid execution; pick Lighter for fee-free retail perps.
* Volume/TVL = dated snapshot (DefiLlama + venue reports, 2026).