Trading
Lighter
Leverage without leaving the chain. A different instrument from spot, and priced accordingly by funding.
Non-custodialNo subscriptionRobinhood Chain
The short answer
Lighter is a zero-knowledge perpetuals DEX running natively on Robinhood Chain, offering leveraged crypto and index markets without bridging to another venue. Margin stays in your control – it is non-custodial – and settlement is verifiable on-chain. Perps are not a faster version of spot: liquidation and funding are continuous costs that spot trading does not have, and they are what decide whether a correct view still ends in a profit.
Use it when
- You want leverage or a hedge and understand liquidation
- You want to stay on Robinhood Chain rather than bridge for a position
- You want index exposure rather than a single token
- You will not give custody of margin to a venue
Skip it when
- You have not traded perps before – this is not the place to learn
- You are trading small size where funding eats the move
- You want spot exposure you can hold indefinitely
- You cannot watch a position or set a stop
What you are actually paying for
Trading fees on open and close, plus funding paid continuously while a position is open. Funding is the one people underestimate: on a crowded side it is a standing charge that runs whether the trade is working or not, and over days it can exceed the move you were waiting for.
Setting it up
- Hold ETH on Robinhood Chain for gas and margin.
- Start at the lowest leverage the interface allows, whatever you intend to use later.
- Read the funding rate before opening. On a crowded side it is a standing cost.
- Decide the liquidation price you can live with, then size to it – not the other way round.
- Keep spot and perps in separate wallets so one cannot liquidate the other.
Specifications
- Chains
- Robinhood Chain
- Runs on
- Web app
- Fees
- Trading fees plus funding on open positions
- Custody
- Non-custodial
- Price
- No subscription
- Setup
- Moderate
What can go wrong
- Leverage liquidates: a position sized on hope closes at the worst possible price
- Funding is continuous and paid whether you are right or wrong
- Thin books slip on size, and a stop can fill far from where it triggered
Lighter FAQ
What does zero-knowledge mean for a perps DEX?
Trades are proven correct cryptographically rather than taken on trust, so settlement stays verifiable on-chain while the matching runs fast. It is a statement about correctness, not about your risk.
How much leverage should I use?
The amount that survives a move against you that you would consider normal for that asset. If a routine 15% move liquidates the position, the leverage is wrong regardless of the direction you picked.
Is Lighter custodial?
No. Margin stays under your control and positions settle on-chain, which removes the venue-failure risk that centralised perps carry – and removes none of the market risk.
Alternatives
ArcusThe other perps venue on this chain, with stock-token markets alongside.
UniswapSpot instead of leverage, when the thesis does not need funding attached.
AxiomSpot execution with stops, if what you wanted was order types rather than leverage.