Aster vs Lighter: Perp DEX Open Interest and Volume

Aster vs Lighter

Two perp DEXs head to head: live open interest, 24h volume, markets listed, turnover and their shared markets, from each exchange's public API. See the full perp DEX ranking.

Aster has 2.0x the open interest of Lighter: $1.27B against $621.36M, 6.7% and 3.3% of the $18.86B across the 3 DEXs tracked. It also trades 1.0x the 24h volume: $1.04B against $1.01B. Volume turns over open interest 1.6x a day on Lighter and 0.8x on Aster, so positions on Lighter are shorter-lived. 4 of their 10 largest markets are the same asset; the biggest, BTC, has $491.18M of open interest on Aster and $176.77M on Lighter.

Aster: liveLighter: liveSources: exchange public APIsAs of 03:11 UTC

Aster open interest#2 of 3

$1.27B

6.7% of perp DEX OI

Aster volume24h

$1.04B

12.9% of perp DEX volume

Lighter open interest#3 of 3

$621.36M

3.3% of perp DEX OI

Lighter volume24h

$1.01B

12.5% of perp DEX volume

Aster vs Lighter side by side

DEX	Open interest	OI split	OI share, all DEXs	Volume 24h	Vol share, all DEXs	Vol / OI	Markets
Aster	$1.27B^*	67.1%	6.7%	$1.04B	12.9%	0.77x	605
Lighter	$621.36M	32.9%	3.3%	$1.01B	12.5%	1.62x	210

* Aster: open interest of its 30 most-traded markets (93.3% of its volume).

Shared markets

among each DEX's 10 largest by OI

Asset	Aster OI	Lighter OI	Aster split	Aster vol 24h	Lighter vol 24h
BTC BTCUSDT · BTC	$491.18M	$176.77M	73.5%	$247.94M	$448.10M
ETH ETHUSDT · ETH	$270.76M	$110.96M	70.9%	$141.73M	$194.34M
SOL SOLUSDT · SOL	$182.97M	$14.37M	92.7%	$92.90M	$51.02M
XAU XAUUSD1 · XAU	$70.07M	$20.32M	77.5%	$183.47M	$21.90M

How it's counted. Open interest is the USD value of open perpetual positions (one side) at each market's current price; 24h volume is quote notional traded in the last 24 hours. Shares "all DEXs" are of every perp DEX with data on the ranking; the split is of these two alone. Shared markets are matched by ticker and price among each DEX's 10 largest markets. Aster and Lighter refresh every 5 minutes; Hyperliquid is live.

Aster vs Lighter FAQ

Which is bigger, Aster or Lighter?

This page compares their live open interest (the USD value of open perpetual positions) and 24h volume, read from each exchange's public API. The perp DEX ranking puts every tracked DEX in one table.

What does volume / OI (turnover) mean?

24h volume divided by open interest: how many times a day the open positions trade over. A high ratio points to short-lived, active trading; a low one to positions held longer.

Which markets do they share?

The shared-markets table lists the assets that appear among both DEXs' 10 largest markets by open interest, matched by ticker and price, with each side's open interest and 24h volume.