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The backbone of DeFi and the second-largest crypto asset — trade it long or short, 24/7, from your own wallet with zero paperwork.
Ethereum is crypto's productive asset: it powers DeFi, NFTs, L2 ecosystems and — ironically — the very ZK-rollup that Lighter runs on. Its price action is more reactive than Bitcoin's, with stronger trends around network upgrades, ETF flows and L2 narratives, making it a favorite for swing traders and momentum strategies.
ETH perps give you leveraged long/short exposure with USDC margin and no expiry. On the DEXs we cover, that comes without KYC, without custody risk, and — on Lighter — without fees.
| Hyperliquid | Aster | Lighter | |
|---|---|---|---|
| Max ETH leverage | 25x | High (Pro mode) + degen mode | 50x |
| Fees (retail) | 0.015% / 0.045% | 0% maker / 0.04% taker | 0% / 0% |
| Special edge | Deepest book, HLP vaults | Privacy + yield-bearing margin | ZK-proven fills, ETH-secured |
| KYC | None | None | None |
Wallet in, position on — under two minutes on any of the three. If funding rates confuse you, our funding rate guide explains how to make them work for you instead.
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