Comparison
Hyperliquid vs Lighter
Hyperliquid and Lighter are two of the most active perpetuals DEXs, and both run a central limit order book with self-custody. Hyperliquid runs its order book fully on its own L1. Lighter is a zero-knowledge rollup on Ethereum that proves its matching and liquidations, and Standard Lighter accounts pay no trading fees. Both are live on Coinner with Grid, DCA, copy, and TradingView bots, and Lighter adds the market maker. Here is how they compare.
Side by side
How they compare
| Feature | Hyperliquid | Lighter |
|---|---|---|
| Chain | Hyperliquid L1 (HyperBFT) | ZK rollup on Ethereum |
| Order book | Fully on-chain CLOB, gasless orders | Central limit order book, matching proven with ZK proofs |
| Exchange lists | Crypto perps, builder-deployed equity & commodity perps (HIP-3), spot | Crypto, stock, index, commodity & FX perps, plus spot |
| Coinner runs bots on | Perps only (crypto + equity/commodity); not spot | Perps only (crypto plus stock/index/commodity/FX); not spot |
| Markets | 200+ perpetuals (mostly crypto; HIP-3 equity & commodity perps) | 200+ perpetuals (crypto, US stocks, indexes, metals, oil, FX) |
| Collateral | USDC | USDC |
| Max leverage | Up to 40x | Up to 50x (BTC, ETH) |
| How Coinner connects | On-chain agent-wallet approval | 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 | Flat account-wide order cap | 30 open orders per market (Standard accounts) |
| Base fees | 0.045% taker / 0.015% maker (4% off 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 | 4% off trading fees | None (sign-up through Coinner required) |
| Cost on Coinner | Free (referral commission share) | Free |
Verdict
Which should you choose?
Choose Hyperliquid for fast, gasless execution with generous order limits, and 4% off your fees when you sign up through Coinner. Choose Lighter if zero fees matter most: Standard accounts pay nothing to trade, in exchange for a short delay on taker orders and cancels and 60 requests a minute, which Coinner paces for you. Lighter also lists stock, index, commodity, and FX perps, and runs the market maker on Coinner. You can connect both from one account, and a Lighter copy bot can follow Hyperliquid traders.
FAQ
Frequently asked questions
Is Lighter cheaper than Hyperliquid?
On a Standard account, yes: Lighter charges 0% maker and 0% taker, while Hyperliquid starts at 0.045% taker and 0.015% maker. Lighter's Premium accounts pay fees in exchange for faster execution and higher limits.
Can a Lighter bot copy Hyperliquid traders?
Yes. Lighter and Hyperliquid share the same BTC-USD style tickers on Coinner, so a copy bot on your Lighter account can follow a trader from the Hyperliquid leaderboard.
How do I connect each one?
Hyperliquid connects with an agent wallet you approve once. Lighter connects with an API key that Coinner registers on your account after one wallet signature. Lighter's key can only withdraw back to your own wallet, and Coinner never asks it to.
Run bots on both
Connect Hyperliquid and Lighter from one Coinner account and trade smarter.