Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL
Trading| Provider | All-in cost | All-in at $100k | All-in at $1M |
|---|---|---|---|
| GMX | 0.060% | 0.060% | 0.060% |
| Lighter | 0.0015% | 0.018% | 0.046% |
GMX vs Lighter
Split decision: GMX leads on Perp DEX cost invariance (1.000x vs 12.0x) and Perp DEX mark price fidelity (0.019% vs 0.032%); Lighter leads on Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL (0.0015% vs 0.060%) and Perp DEX security track record (1,152 vs 413).
GMX
Perp DEX on Arbitrum and Avalanche. Pool-based execution against GLP and GM vaults, oracle-priced trades with no orderbook.
Lighter
Onchain perp DEX with a fully onchain orderbook on a zkSync rollup. ZK proofs verify matching, no off-chain sequencer for trade execution.
Side by side measurements
Perp DEX cost invariance: all-in bps at $1M vs $1k, live slope ranked
Trading| Provider | Cost slope ($1M / $1k) | $1M fill rate |
|---|---|---|
| GMX | 1.000x | 100.0% |
| Lighter | 12.0x | 99.4% |
Perp DEX mark price fidelity: deviation from CEX spot reference, live
TradingGMX
Leads0.019 %
- p99
- 0.073%
- rank
- #4
- samples
- 2,880
Lighter
Trails0.032 %
- p99
- 0.21%
- rank
- #6
- samples
- 2,880
Per chain
| Chain | GMX | Lighter |
|---|---|---|
| ETH | 0.018% | 0.038% |
| BTC | 0.019% | 0.032% |
| SOL | 0.022% | 0.065% |
Perp DEX security track record: days without a recorded exploit, live
TradingGMX
Trails413
- p99
- 413
- rank
- #6
- samples
- 2,880
Lighter
Leads1,152
- p99
- 1,152
- rank
- #2
- samples
- 2,880
This benchmark counts recorded incidents only. Absence from the registry does not prove a protocol is exploit-free: it means no incident matching the criteria (direct theft or loss of user funds via a security vulnerability) has been documented in the tracked sources as of the registry timestamp shown on each row. The registry is human-curated and updated when a new incident is confirmed. The registry date and source links are embedded in the harness.
Perp DEX asset breadth: non-crypto markets live, forex + stocks + indices + commodities
TradingGMX
No data in window
Lighter
Leads40
- rank
- #2
Market count reflects the Mobula perp pairs catalog at query time. Only mainnet markets are counted (testnets excluded). Asset class tags (forex, stocks, indices, commodities) are assigned by Mobula's editorial taxonomy and updated when new pairs are listed. Venues not in the Mobula catalog (Hyperliquid, GMX, dYdX, Ostium, Vertex, Paradex, Aster) are monitored separately: their catalogs are crypto-only or verified crypto-only by native API.
Perp DEX liquidation rate: 24h liquidated notional as % of open interest, live
TradingGMX
No data in window
Lighter
Trails0.00006 %
- p99
- 0.00008%
- rank
- #1
- samples
- 2,880
Frequently asked questions
GMX vs Lighter: which one is better?
GMX and Lighter are compared on 6 shared OpenChainBench benchmarks. GMX leads on Perp DEX cost invariance. Lighter leads on Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL. See the live table on this page for every metric.
Which is faster, GMX or Lighter?
On the Perp DEX cost invariance benchmark, GMX leads at 1.000x versus Lighter at 12.0x. Live measurement is updated continuously by the OpenChainBench harness.
Which is cheaper, GMX or Lighter?
On the Cheapest perp DEX, live all-in cost from $1k to $1M on ETH, BTC and SOL benchmark, Lighter leads at 0.0015% versus GMX at 0.060%. Live measurement is updated continuously by the OpenChainBench harness.
How is the GMX vs Lighter comparison measured?
Every benchmark on this page uses the same open methodology, published at https://openchainbench.com/methodology. Data is CC-BY-4.0. Measurement harnesses are MIT-licensed.
Related comparisons
How this pair was selected
Auto-generated pairs require: both providers in the same benchmark for seven consecutive days, at least 1000 samples per provider, observable third-party search demand, and a public /products/[slug] page on OCB. Editorially curated pairs (like this one) may publish early when search demand is high and data is accruing — panels with fewer than 100 samples are shown as provisional. The full pair ledger is versioned in the public repo.