Lighter vs Orderly

Lighter is a fully-verifiable decentralized exchange built as a zero-knowledge rollup on Ethereum, delivering high-frequency trading performance with onchain security and composability. Its custom ZK circuits prove every operation — including order matching and liquidations — with millisecond latency and the ability to process tens of thousands of orders per second. The optimized matching engine enables zero fees for retail traders and highly competitive pricing for high-frequency strategies, while deposits, withdrawals and proofs are verified publicly on Ethereum. Lighter's mainnet is live, offering low-cost, low-latency perpetual trading backed by transparent, cryptographically-secured settlement.

The Orderly Bridge tracks the assets deposited into Orderly, the omnichain order book infrastructure behind many perpetual DEXs. Users deposit from Ethereum, Solana, BNB Chain and other networks, and their funds are settled on Orderly's own chain, where a shared central limit order book serves every front end built on Orderly. The bridged balance is the collateral used for trading across those venues.