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: $1.28B against $628.99M, 6.7% and 3.3% of the $19.01B across the 3 DEXs tracked. It also trades 1.0x the 24h volume: $861.59M against $833.22M. Volume turns over open interest 1.3x a day on Lighter and 0.6x on Aster, so positions on Lighter are shorter-lived. 4 of their 10 largest markets are the same asset; the biggest, BTC, has $494.13M of open interest on Aster and $173.33M on Lighter.

Aster: liveLighter: liveSources: exchange public APIsAs of 23:33 UTC

Aster open interest#2 of 3

$1.28B

6.7% of perp DEX OI

Aster volume24h

$861.59M

13.6% of perp DEX volume

Lighter open interest#3 of 3

$628.99M

3.3% of perp DEX OI

Lighter volume24h

$833.22M

13.1% 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	$1.28B^*	67.0%	6.7%	$861.59M	13.6%	0.62x	605
Lighter	$628.99M	33.0%	3.3%	$833.22M	13.1%	1.32x	210

* Aster: open interest of its 30 most-traded markets (92.7% 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	$494.13M	$173.33M	74.0%	$195.83M	$349.16M
ETH ETHUSDT · ETH	$272.83M	$112.66M	70.8%	$119.45M	$164.04M
SOL SOLUSDT · SOL	$186.65M	$14.67M	92.7%	$79.88M	$66.86M
XAU XAUUSD1 · XAU	$70.30M	$18.57M	79.1%	$111.98M	$8.61M

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.