Comparison
dYdX vs Lighter
dYdX runs a fully on-chain order book on its own Cosmos app-chain, mostly crypto with some permissionlessly-listed commodity, equity, and FX perps. Lighter is a zero-knowledge rollup on Ethereum whose Standard accounts pay no trading fees, and it lists stock, index, commodity, and FX perps alongside crypto. Both are live on Coinner with Grid, DCA, copy, and TradingView bots, Lighter adds the market maker, and both keep your funds self-custodial. Here is how they compare.
Side by side
How they compare
| Feature | dYdX | Lighter |
|---|---|---|
| Chain | Cosmos app-chain (dYdX v4) | ZK rollup on Ethereum |
| Order book | Fully on-chain CLOB, run by every validator | Central limit order book, matching proven with ZK proofs |
| Exchange lists | Mostly crypto perps, plus permissionlessly-listed commodity, equity & FX perps (WTI oil, gold, SPX, TSLA, EUR) | Crypto, stock, index, commodity & FX perps, plus spot |
| Coinner runs bots on | Any dYdX perp (crypto plus the commodity/equity/FX markets) | Perps only (crypto plus stock/index/commodity/FX); not spot |
| Markets | 290+ perpetuals (mostly crypto; also WTI, XAU, SPX, TSLA, EUR) | 200+ perpetuals (crypto, US stocks, indexes, metals, oil, FX) |
| Collateral | USDC | USDC |
| Max leverage | Up to 50x | Up to 50x (BTC, ETH) |
| How Coinner connects | Trade-only API keys | API key registered with one wallet signature |
| Custody | Funds stay in your account | Funds stay in your account |
| Withdraw permission | Never granted | Only back to your own wallet; Coinner never requests one |
| Order limits | Equity-tier order budget (scales with balance) | 30 open orders per market (Standard accounts) |
| Base fees | 0.05% taker / 0.01% maker (0.04% / 0.005% via Coinner referral) | 0% maker / 0% taker (Standard accounts) |
| Bots on Coinner | Grid, DCA, Copy, TradingView | Grid, DCA, Copy, TradingView, Market Maker |
| Copy-trading leaderboard | Yes | Yes |
| Sign-up reward | Up to $550 in fee discounts | None (sign-up through Coinner required) |
| Cost on Coinner | Free (builder-code fee share) | Free |
Verdict
Which should you choose?
Choose dYdX for an equity-tier order budget that grows with your balance, trade-only API keys, and sign-up fee discounts through Coinner. Choose Lighter for zero fees on Standard accounts, a wider range of non-crypto perps, and the market maker, keeping in mind its 30 orders per market and 60 requests a minute on Standard. A Lighter copy bot can follow dYdX traders, and you can connect both from one Coinner account.
FAQ
Frequently asked questions
Which is cheaper, dYdX or Lighter?
Lighter Standard accounts pay 0% maker and 0% taker. dYdX starts at 0.05% taker and 0.01% maker, or 0.04% and 0.005% when you sign up through Coinner.
Which allows bigger grids?
dYdX scales its open-order budget with your equity, so a larger balance unlocks denser grids. Lighter Standard accounts allow 30 open orders per market, so a Lighter grid has at most 30 levels.
Are both self-custodial?
Yes. dYdX uses trade-only API keys that cannot withdraw. Lighter uses an API key that can only withdraw back to your own wallet, and Coinner never asks it to.
Run bots on both
Connect dYdX and Lighter from one Coinner account and trade smarter.