Perp DEX volume share, live 24h notional ranked
TradingJupiter Perps
Trails$295.55M
- rank
- #14
- samples
- 97provisional
Lighter
Leads$1.95B
- p99
- $2.22B
- rank
- #4
- samples
- 2,880
24h perp volume
Jupiter Perpsn/aLightern/a
Jupiter Perps vs Lighter
Split decision: Jupiter Perps leads on Perp DEX token P/E ratio 2026 (23.4x vs 86.8x) and Perp DEX price to fees ratio 2026 (4.12x vs 18.7x); Lighter leads on Perp DEX volume share, live 24h notional ranked ($1.95B vs $295.55M) and Most tradable markets on a perp DEX, live count per venue (213 vs 3).
Jupiter Perps
Solana swap aggregator. REST APIs for quotes, swap routing, price, and token lists across Solana DEXs.
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
Most tradable markets on a perp DEX, live count per venue
TradingJupiter Perps
Trails3
- rank
- #22
- samples
- 96provisional
Lighter
Leads213
- p99
- 214
- rank
- #6
- samples
- 2,880
Active markets
Jupiter Perpsn/aLightern/a
Perp DEX token P/E ratio 2026: Hyperliquid, Lighter, GMX, dYdX, GNS live
TradingJupiter Perps
Leads23.4x
- p99
- 23.4x
- rank
- #4
- samples
- 2,880
Lighter
Trails86.8x
- p99
- 86.8x
- rank
- #7
- samples
- 2,880
P/E ratio
Jupiter Perpsn/aLightern/a
P/E = fully diluted valuation (CoinGecko) divided by annualized protocol revenue (DeFiLlama dailyRevenue, 30-day trailing average x365). Protocol revenue = fees accruing to the treasury or token holders, not total user fees. Tokens without a CoinGecko listing show no P/E. FDV reflects total supply at current price, not circulating supply; tokens with large unvested allocations will show inflated FDV-based P/E. Updated hourly.
Perp DEX price to fees ratio 2026: Hyperliquid, Aster, Lighter, GMX, GNS live
Trading| Provider | P/F ratio | FDV / fees | P/S | Fees 30d | Revenue 30d | Float | Open interest | Fees / OI |
|---|---|---|---|---|---|---|---|---|
| Jupiter Perps | 4.12x | 8.51x | 11.3x | $19.65M | $7.15M | 48.4% | $37.51M | 6.37x |
| Lighter | 18.7x | 74.8x | 21.7x | $5.31M | $4.57M | 25.0% | $623.05M | 0.104x |
View
Jupiter Perpsn/aLightern/a
P/F = circulating market cap (CoinGecko) / annualized fees (DeFiLlama dailyFees, trailing 30d x 365/30), on the DeFiLlama parent the token accrues from. Fees include the share paid to liquidity providers; P/S uses protocol revenue only. Low-float tokens show a much higher FDV/F than P/F. Pre-TGE venues are listed unranked with fees and OI, no ratio. A low multiple is not a recommendation.
Frequently asked questions
Jupiter Perps vs Lighter: which one is better?
Jupiter Perps and Lighter are compared on 4 shared OpenChainBench benchmarks. Jupiter Perps leads on Perp DEX token P/E ratio 2026. Lighter leads on Perp DEX volume share, live 24h notional ranked. See the live table on this page for every metric.
Which has the lower p/e ratio, Jupiter Perps or Lighter?
On the Perp DEX token P/E ratio 2026 benchmark, Jupiter Perps leads at 23.4x versus Lighter at 86.8x. Live measurement is updated continuously by the OpenChainBench harness.
Which has the higher 24h perp volume, Jupiter Perps or Lighter?
On the Perp DEX volume share, live 24h notional ranked benchmark, Lighter leads at $1.95B versus Jupiter Perps at $295.55M (provisional). Live measurement is updated continuously by the OpenChainBench harness.
How is the Jupiter Perps 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.