Lighter vs Derive
A side-by-side comparison of two perpetual DEXs using the same sources and capture time. Larger is not automatically better: check fees, markets, collateral and access rules for your own use.
- Lighter holds 10.2× the open interest of Derive ($860.41M vs $84.63M).
- Over the last 30 days traders paid $5.39M in fees on Lighter and $181.52K on Derive.
- Lighter’s average open interest moved +42.6% over 30 days.
- Derive’s average open interest moved +8.4% over 30 days.
 Lighter |  Derive | |
|---|---|---|
| Open interest | $860.41M | $84.63M |
| OI rank (of 91) | 4 | 15 |
| OI change · 30d | +42.6% | +8.4% |
| Volume · 24h | $3.12B | $112.68M |
| User fees · 30d | $5.39M | $181.52K |
| Fees change · 30d | +12.3% | +16.8% |
| Trend | Growing | Stable |
| Chains | Robinhood Chain, zkLighter | Derive Chain |
| Model | ZK-proven order book | Not classified yet |
| RWA markets | Yes | Yes |
| Token | LIT | DRV |
Open interest over time
- Lighter $860.41M
- Derive $84.63M
DefiLlama daily open interest. Missing days are left as gaps. The scale starts at zero.
Open interest and fees: DefiLlama, captured 08 Oct 2026 · 12:17 UTC. 24h volume: CoinGecko derivatives exchange data (rolling 24 hours, converted from BTC), captured 08 Oct 2026 · 12:16 UTC. Token prices and 30-day price change: CoinGecko, at the time shown on each venue page; a parent-project or chain token is labelled and is not evidence of a claim on exchange revenue. Changes compare the last 30 days with the previous 30 days (OI as a daily average, fees as a total) and need at least 95% daily coverage. A trend label needs the 30-day move to pass a threshold (OI ±25%, fees ±30%) on a minimum base (OI ≥ $5M, fees ≥ $100K per 30 days); with 90 days of history both horizons must agree. Venue-reported volume is not audited; ⚑ marks volume above 25× open interest. “—” means unavailable, never zero. Full method ↗