edgeX vs Lighter

Compare edgeX vs Lighter: taker fees, farm score, 24h volume, open interest, funding APR, and airdrop program window side by side.

Head-to-head

Perpetual DEX feature & fee matrix

Compare maker/taker fee tiers, reward pools, and score breakdowns between any two perp exchanges. Check live arbitrage spreads in the Funding Matrix, or review our tier scoring weights in the Scoring Methodology.

Venue AVenue B

Hyperliquid

Hyperliquid L1 · HIP-3 & Ecosystem

Tier S flagship: deepest on-chain liquidity, 0.015%/0.045% base fees and HIP-3 builder ecosystem

Best risk-adjusted farm right now: a large pool, an early entry point, and not much volume competing yet.

Farm Hyperliquid

Lighter

zkLighter / Robinhood Chain · Season 2 · $25M Robinhood Campaign

Season 2 live: $25M in $LIT rewards on Robinhood Chain with 2x multiplier

Strong farm. Worth a permanent allocation of weekly volume.

Farm Lighter

Green highlights the better side for airdrop farming. Volume and Vol ÷ OI are shown as raw market data without a winner — a higher dollar volume is not “better”, it usually means a more crowded reward pool.

Farm score

$3.64B

Volume 24h

Absolute market size — not ranked; higher = more farmers competing

$926.7M

$10.31B

Open interest

$1.14B

+2.5%

OI Δ7d

+20.5%

0.4×

Vol ÷ OI

24h volume ÷ open interest. ~1–3× = positioning; 8×+ often churn

0.8×

+9.1%

Funding APR

+0.6%

0.015%/0.045%

M / T

0%/0%

Open

Program window

$4.65B

Reward pool est.

$250.0M

$90

Fee / $100k RT

31%

Allocation

25%

Higher farm score right now: Hyperliquid (99/100).

FAQ

Compare questions

Which column matters most?+

Farm score already packs the trade-offs into one number. Use the row-by-row view when two scores are close and you want to see whether the edge is reward density, a quieter book, cheaper fees or an earlier program window.

What does Vol ÷ OI (turnover) mean?+

Daily volume divided by open interest. Real positioning typically turns over about 1–3× per day. When turnover is 8× or higher, the same open interest is being churned many times — a sign of incentive-driven volume competing with you for the pool, not that one venue is “bigger” than another.

Why is a $2B venue not automatically better than a $700M one?+

Volume is how much notional traded in 24 hours, not how good the airdrop is. A larger number means more farmers are already splitting the same reward pool. Farm score already penalises crowding — the volume row is there so you can see the raw competition, not to crown a winner.