{"id":52337,"date":"2025-09-27T14:25:09","date_gmt":"2025-09-27T11:25:09","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=52337"},"modified":"2025-09-27T14:25:09","modified_gmt":"2025-09-27T11:25:09","slug":"what-is-lighter-and-how-to-use-it","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/","title":{"rendered":"What is Lighter and How to Use It?"},"content":{"rendered":"<p data-start=\"280\" data-end=\"984\">In the decentralized finance (<strong>DeFi<\/strong>) space, <a href=\"https:\/\/coinengineer.net\/blog\/top-5-perp-dexs-2025-updated-list\/\"><strong>perpetual futures (perps)<\/strong><\/a> trading has become a powerful tool for crypto traders. <strong data-start=\"404\" data-end=\"415\">Lighter<\/strong> is a fully decentralized order book exchange running on the Arbitrum One Layer 2 network. By offering permissionless trading with zero slippage and built-in protection against MEV (Miner Extractable Value), it addresses common issues seen in traditional DEXs\u2014such as latency, high gas fees, and lack of transparency. Leveraging cryptographic technologies, Lighter delivers both fairness and security, aiming to provide an alternative experience to centralized exchanges. In this article, we\u2019ll dive into what Lighter is, how it works, and how to use it step by step.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#What_is_Lighter\" title=\"What is Lighter?\">What is Lighter?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#Key_Features_of_Lighter\" title=\"Key Features of Lighter\">Key Features of Lighter<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#Lighters_Modular_Ecosystem\" title=\"Lighter\u2019s Modular Ecosystem\">Lighter\u2019s Modular Ecosystem<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#How_Lighter_Works\" title=\"How Lighter Works\">How Lighter Works<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#Order_Placement\" title=\"Order Placement\">Order Placement<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#Mark_Price_and_Valuation\" title=\"Mark Price and Valuation\">Mark Price and Valuation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#Margin_Liquidation_Management\" title=\"Margin &amp; Liquidation Management\">Margin &amp; Liquidation Management<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#Funding_Mechanism\" title=\"Funding Mechanism\">Funding Mechanism<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#PnL_Calculation\" title=\"PnL Calculation\">PnL Calculation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#Account_Pool_Management\" title=\"Account &amp; Pool Management\">Account &amp; Pool Management<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#How_to_Use_Lighter_Step_by_Step\" title=\"How to Use Lighter (Step by Step)\">How to Use Lighter (Step by Step)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#Official_Links\" title=\"Official Links\">Official Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"991\" data-end=\"1012\"><span class=\"ez-toc-section\" id=\"What_is_Lighter\"><\/span>What is Lighter?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"1014\" data-end=\"1482\">Lighter is a decentralized perpetual derivatives trading platform built on Arbitrum One. Currently in its testnet phase, it aims to reshape how perps trading is done in DeFi by combining the speed and user-friendly features of centralized exchanges with the transparency and trustlessness of decentralization. Using innovations like SNARK-based verifiable matching and proof-of-liquidation, Lighter ensures fairness and reliability at every stage of trading.<\/p>\n<h2 data-start=\"1489\" data-end=\"1517\"><span class=\"ez-toc-section\" id=\"Key_Features_of_Lighter\"><\/span>Key Features of Lighter<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"1519\" data-end=\"1608\">Lighter differentiates itself from other DeFi platforms with several unique mechanisms:<\/p>\n<ul data-start=\"1610\" data-end=\"2715\">\n<li data-start=\"1610\" data-end=\"1889\">\n<p data-start=\"1612\" data-end=\"1889\">Verifiable Matching:<br data-start=\"1636\" data-end=\"1639\" \/>Its matching engine operates on the Price-Time Priority rule, ensuring that orders are matched fairly by price and then by time. With the use of zero-knowledge proofs (SNARKs), traders can cryptographically verify that no manipulation occurs.<\/p>\n<\/li>\n<li data-start=\"1891\" data-end=\"2134\">\n<p data-start=\"1893\" data-end=\"2134\">Transparent Liquidation:<br data-start=\"1921\" data-end=\"1924\" \/>Instead of relying on opaque centralized oracles, Lighter verifies every liquidation through Liquidation Proofs, eliminating risks of favoritism or fraudulent activity\u2014especially during high volatility.<\/p>\n<\/li>\n<li data-start=\"2136\" data-end=\"2301\">\n<p data-start=\"2138\" data-end=\"2301\">Anti-Self-Trading Mechanism:<br data-start=\"2170\" data-end=\"2173\" \/>The platform prevents wash trading and artificial volume creation, keeping trading activity authentic and manipulation-free.<\/p>\n<\/li>\n<li data-start=\"2303\" data-end=\"2528\">\n<p data-start=\"2305\" data-end=\"2528\">Public Pools:<br data-start=\"2322\" data-end=\"2325\" \/>Retail investors can allocate funds into pools managed by professional traders (Operators). Profits are distributed proportionally to contributions, creating a community-driven revenue-sharing model.<\/p>\n<\/li>\n<li data-start=\"2530\" data-end=\"2715\">\n<p data-start=\"2532\" data-end=\"2715\">Points Program:<br data-start=\"2551\" data-end=\"2554\" \/>Testnet participants can earn points by trading, reporting bugs, or providing feedback. These points will be redeemable for rewards after the mainnet launch.<\/p>\n<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-172724 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/09\/lighter-5.png\" alt=\"\" width=\"1347\" height=\"613\" \/><\/p>\n<h2 data-start=\"2722\" data-end=\"2754\"><span class=\"ez-toc-section\" id=\"Lighters_Modular_Ecosystem\"><\/span>Lighter\u2019s Modular Ecosystem<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"2756\" data-end=\"2843\">Lighter\u2019s infrastructure ensures efficiency and safety with the following components:<\/p>\n<ul data-start=\"2845\" data-end=\"3293\">\n<li data-start=\"2845\" data-end=\"2906\">\n<p data-start=\"2847\" data-end=\"2906\">Matching Engine: Handles transparent order execution.<\/p>\n<\/li>\n<li data-start=\"2907\" data-end=\"2981\">\n<p data-start=\"2909\" data-end=\"2981\">Smart Contracts: Manage margin, PnL, liquidations, and order flow.<\/p>\n<\/li>\n<li data-start=\"2982\" data-end=\"3093\">\n<p data-start=\"2984\" data-end=\"3093\">Margin System: Divided into Initial Margin (IMR), Maintenance Margin (MMR), and Close-out Margin (CMR).<\/p>\n<\/li>\n<li data-start=\"3094\" data-end=\"3143\">\n<p data-start=\"3096\" data-end=\"3143\">Insurance Fund: Covers negative balances.<\/p>\n<\/li>\n<li data-start=\"3144\" data-end=\"3209\">\n<p data-start=\"3146\" data-end=\"3209\">Public Pools: Professionally managed community liquidity.<\/p>\n<\/li>\n<li data-start=\"3210\" data-end=\"3293\">\n<p data-start=\"3212\" data-end=\"3293\">Sub-Accounts &amp; API Keys: Support multi-strategy trading and automated bots.<\/p>\n<\/li>\n<\/ul>\n<h2 data-start=\"3300\" data-end=\"3322\"><span class=\"ez-toc-section\" id=\"How_Lighter_Works\"><\/span>How Lighter Works<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"3324\" data-end=\"3582\">At its core, Lighter runs on an order book system. Market makers profit from bid-ask spreads, while takers execute trades with zero slippage. Thanks to Arbitrum Layer 2, traders benefit from lower costs and faster transactions compared to Ethereum mainnet.<\/p>\n<h3 data-start=\"3584\" data-end=\"3605\"><span class=\"ez-toc-section\" id=\"Order_Placement\"><\/span>Order Placement<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"3607\" data-end=\"3865\">\n<li data-start=\"3607\" data-end=\"3684\">\n<p data-start=\"3609\" data-end=\"3684\">Traders can submit Market, Limit, Stop-loss, Take-profit, or TWAP orders.<\/p>\n<\/li>\n<li data-start=\"3685\" data-end=\"3764\">\n<p data-start=\"3687\" data-end=\"3764\">Options include Reduce-only, Post-only, and Time-in-force (e.g., GTC, IOC).<\/p>\n<\/li>\n<li data-start=\"3765\" data-end=\"3865\">\n<p data-start=\"3767\" data-end=\"3865\">The matching engine executes based on price-time priority, with SNARK verification for fairness.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"3867\" data-end=\"3897\"><span class=\"ez-toc-section\" id=\"Mark_Price_and_Valuation\"><\/span>Mark Price and Valuation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-start=\"3899\" data-end=\"3933\">Position value is determined by:<\/p>\n<ul data-start=\"3934\" data-end=\"4051\">\n<li data-start=\"3934\" data-end=\"3974\">\n<p data-start=\"3936\" data-end=\"3974\">Index Price (spot market reference),<\/p>\n<\/li>\n<li data-start=\"3975\" data-end=\"3995\">\n<p data-start=\"3977\" data-end=\"3995\">Funding Premium,<\/p>\n<\/li>\n<li data-start=\"3996\" data-end=\"4051\">\n<p data-start=\"3998\" data-end=\"4051\">Impact Price (liquidity depth from the order book).<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"4053\" data-end=\"4137\">The Mark Price is used for PnL, margin requirements, and liquidation triggers.<\/p>\n<h3 data-start=\"4139\" data-end=\"4176\"><span class=\"ez-toc-section\" id=\"Margin_Liquidation_Management\"><\/span>Margin &amp; Liquidation Management<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"4178\" data-end=\"4451\">\n<li data-start=\"4178\" data-end=\"4228\">\n<p data-start=\"4180\" data-end=\"4228\">IMR: Minimum margin to open new positions.<\/p>\n<\/li>\n<li data-start=\"4229\" data-end=\"4283\">\n<p data-start=\"4231\" data-end=\"4283\">MMR: Triggers partial liquidation if breached.<\/p>\n<\/li>\n<li data-start=\"4284\" data-end=\"4451\">\n<p data-start=\"4286\" data-end=\"4451\">CMR: If equity falls below this level, full liquidation occurs. Remaining balances go to the Insurance Fund, with Auto-Deleveraging (ADL) kicking in if needed.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"4453\" data-end=\"4476\"><span class=\"ez-toc-section\" id=\"Funding_Mechanism\"><\/span>Funding Mechanism<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-start=\"4478\" data-end=\"4572\">Funding payments are exchanged hourly based on the difference between Mark and Index prices:<\/p>\n<ul data-start=\"4573\" data-end=\"4648\">\n<li data-start=\"4573\" data-end=\"4610\">\n<p data-start=\"4575\" data-end=\"4610\">Positive rate \u2192 Longs pay Shorts.<\/p>\n<\/li>\n<li data-start=\"4611\" data-end=\"4648\">\n<p data-start=\"4613\" data-end=\"4648\">Negative rate \u2192 Shorts pay Longs.<\/p>\n<\/li>\n<\/ul>\n<p data-start=\"4650\" data-end=\"4713\">This balances the market and discourages extreme speculation.<\/p>\n<h3 data-start=\"4715\" data-end=\"4736\"><span class=\"ez-toc-section\" id=\"PnL_Calculation\"><\/span>PnL Calculation<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"4738\" data-end=\"4900\">\n<li data-start=\"4738\" data-end=\"4805\">\n<p data-start=\"4740\" data-end=\"4805\">Unrealized PnL = (Mark Price \u2013 Entry Price) \u00d7 Position Size<\/p>\n<\/li>\n<li data-start=\"4806\" data-end=\"4853\">\n<p data-start=\"4808\" data-end=\"4853\">Account Value = Margin + Unrealized PnL<\/p>\n<\/li>\n<li data-start=\"4854\" data-end=\"4900\">\n<p data-start=\"4856\" data-end=\"4900\">Funding fees directly impact realized PnL.<\/p>\n<\/li>\n<\/ul>\n<h3 data-start=\"4902\" data-end=\"4933\"><span class=\"ez-toc-section\" id=\"Account_Pool_Management\"><\/span>Account &amp; Pool Management<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul data-start=\"4935\" data-end=\"5130\">\n<li data-start=\"4935\" data-end=\"4995\">\n<p data-start=\"4937\" data-end=\"4995\">Sub-Accounts allow multiple strategies under one wallet.<\/p>\n<\/li>\n<li data-start=\"4996\" data-end=\"5041\">\n<p data-start=\"4998\" data-end=\"5041\">API Keys enable automated trading setups.<\/p>\n<\/li>\n<li data-start=\"5042\" data-end=\"5130\">\n<p data-start=\"5044\" data-end=\"5130\">Public Pools let users back professional operators and share profits proportionally.<\/p>\n<\/li>\n<\/ul>\n<h2 data-start=\"5137\" data-end=\"5175\"><span class=\"ez-toc-section\" id=\"How_to_Use_Lighter_Step_by_Step\"><\/span>How to Use Lighter (Step by Step)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"5177\" data-end=\"5307\">To try Lighter during its testnet phase, you\u2019ll need an Arbitrum One-compatible wallet (e.g., MetaMask). Here\u2019s the process:<\/p>\n<p data-start=\"5312\" data-end=\"5389\"><a href=\"https:\/\/coinengineer.net\/blog\/what-is-metamask-and-how-to-use-it\/\">1.Connect Your Wallet<\/a><\/p>\n<ul>\n<li data-start=\"5312\" data-end=\"5389\">Link your Arbitrum wallet to the Lighter dApp.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-172716 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/09\/Lighter-1.png\" alt=\"\" width=\"1364\" height=\"622\" \/><\/p>\n<p data-start=\"5394\" data-end=\"5568\">2.Set Up Accounts<\/p>\n<ul>\n<li data-start=\"5394\" data-end=\"5568\">Create your trading account and optionally add Sub-Accounts for different strategies.<\/li>\n<li data-start=\"5394\" data-end=\"5568\">Generate API Keys if you plan on running automated bots.<\/li>\n<\/ul>\n<p data-start=\"5573\" data-end=\"5808\">3.Place Orders<\/p>\n<ul>\n<li data-start=\"5573\" data-end=\"5808\">Choose your order type (Market, Limit, Stop-loss, etc.).<\/li>\n<li data-start=\"5573\" data-end=\"5808\">Configure advanced options (Reduce-only, Post-only, Time-in-force).<\/li>\n<li data-start=\"5573\" data-end=\"5808\">Confirm, and the matching engine executes the trade with SNARK verification.<\/li>\n<\/ul>\n<p data-start=\"5813\" data-end=\"6002\">Manage Margin &amp; Positions<\/p>\n<ul>\n<li data-start=\"5813\" data-end=\"6002\">Monitor IMR, MMR, and CMR levels.<\/li>\n<li data-start=\"5813\" data-end=\"6002\">Keep enough collateral to avoid liquidation risks.<\/li>\n<li data-start=\"5813\" data-end=\"6002\">Track Mark Price to stay ahead of potential margin calls.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-172718 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/09\/lighter-2.png\" alt=\"\" width=\"494\" height=\"421\" \/><\/p>\n<p data-start=\"6007\" data-end=\"6134\">Join Public Pools<\/p>\n<ul>\n<li data-start=\"6007\" data-end=\"6134\">Deposit funds into pools managed by Operators.<\/li>\n<li data-start=\"6007\" data-end=\"6134\">Earn profits based on your contribution share.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-172719\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/09\/lighter-3.png\" alt=\"\" width=\"1365\" height=\"613\" \/><\/p>\n<p data-start=\"6139\" data-end=\"6279\">Earn Points<\/p>\n<ul>\n<li data-start=\"6139\" data-end=\"6279\">Trade, report bugs, and share feedback to accumulate points.<\/li>\n<li data-start=\"6139\" data-end=\"6279\">Redeem them for rewards once the mainnet goes live.<\/li>\n<\/ul>\n<p data-start=\"6284\" data-end=\"6414\">Track Funding &amp; PnL<\/p>\n<ul>\n<li data-start=\"6284\" data-end=\"6414\">Check hourly funding payments.<\/li>\n<li data-start=\"6284\" data-end=\"6414\">Monitor both realized and unrealized PnL in the dApp dashboard.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-172721 aligncenter\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2025\/09\/lighter-4.png\" alt=\"\" width=\"1365\" height=\"624\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Official_Links\"><\/span>Official Links<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><a href=\"https:\/\/lighter.xyz\/\">Website<\/a><\/li>\n<li><a href=\"https:\/\/x.com\/Lighter_xyz\">X (Twitter)<\/a><\/li>\n<\/ul>\n<p>Also, click to read our article titled &#8220;Top 5 Perp DEXs: 2025 Updated List!&#8221;<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"NzCw9iLZCd\"><p><a href=\"https:\/\/coinengineer.net\/blog\/top-5-perp-dexs-2025-updated-list\/\">Top 5 Perp DEXs: 2025 Updated List!<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;Top 5 Perp DEXs: 2025 Updated List!&#8221; &#8212; Coin Engineer\" src=\"https:\/\/coinengineer.net\/blog\/top-5-perp-dexs-2025-updated-list\/embed\/#?secret=Vx32icnDAQ#?secret=NzCw9iLZCd\" data-secret=\"NzCw9iLZCd\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/a>\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the decentralized finance (DeFi) space, perpetual futures (perps) trading has become a powerful tool for crypto traders. Lighter is a fully decentralized order book exchange running on the Arbitrum One Layer 2 network. By offering permissionless trading with zero slippage and built-in protection against MEV (Miner Extractable Value), it addresses common issues seen in<\/p>\n","protected":false},"author":29,"featured_media":52466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,449],"tags":[93,24237,24238,22039,24239,24240,24236],"class_list":["post-52337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-guides","category-exchange-guides","tag-defi","tag-how-to-use-lighter","tag-lighter","tag-perpetual-futures-perps","tag-points-program","tag-public-pool","tag-what-is-lighter"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Lighter and How to Use It? - Coin Engineer<\/title>\n<meta name=\"description\" content=\"What is Lighter? Arbitrum One is a decentralized perpetual derivatives trading platform operating on the Layer 2 chain. Click for details.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is Lighter and How to Use It? - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"What is Lighter? Arbitrum One is a decentralized perpetual derivatives trading platform operating on the Layer 2 chain. Click for details.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-27T11:25:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/how-to-use-lighter.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Emre Yumlu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emre Yumlu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/\",\"name\":\"What is Lighter and How to Use It? - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/how-to-use-lighter.png\",\"datePublished\":\"2025-09-27T11:25:09+00:00\",\"dateModified\":\"2025-09-27T11:25:09+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/f99e7d0d5039cb3b36bd759a12c1216c\"},\"description\":\"What is Lighter? Arbitrum One is a decentralized perpetual derivatives trading platform operating on the Layer 2 chain. Click for details.\",\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/how-to-use-lighter.png\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/how-to-use-lighter.png\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What is Lighter and How to Use It?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/f99e7d0d5039cb3b36bd759a12c1216c\",\"name\":\"Emre Yumlu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3618e7041e2880ae9fdfeec9b77592ba6e9417ff89cfe4db07e0d1687a477d7b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3618e7041e2880ae9fdfeec9b77592ba6e9417ff89cfe4db07e0d1687a477d7b?s=96&d=mm&r=g\",\"caption\":\"Emre Yumlu\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/ceemre\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What is Lighter and How to Use It? - Coin Engineer","description":"What is Lighter? Arbitrum One is a decentralized perpetual derivatives trading platform operating on the Layer 2 chain. Click for details.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/","og_locale":"en_US","og_type":"article","og_title":"What is Lighter and How to Use It? - Coin Engineer","og_description":"What is Lighter? Arbitrum One is a decentralized perpetual derivatives trading platform operating on the Layer 2 chain. Click for details.","og_url":"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/","og_site_name":"Coin Engineer","article_published_time":"2025-09-27T11:25:09+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/how-to-use-lighter.png","type":"image\/png"}],"author":"Emre Yumlu","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Emre Yumlu","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/","url":"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/","name":"What is Lighter and How to Use It? - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/how-to-use-lighter.png","datePublished":"2025-09-27T11:25:09+00:00","dateModified":"2025-09-27T11:25:09+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/f99e7d0d5039cb3b36bd759a12c1216c"},"description":"What is Lighter? Arbitrum One is a decentralized perpetual derivatives trading platform operating on the Layer 2 chain. Click for details.","breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/how-to-use-lighter.png","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/09\/how-to-use-lighter.png","width":1280,"height":720},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/what-is-lighter-and-how-to-use-it\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"What is Lighter and How to Use It?"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/f99e7d0d5039cb3b36bd759a12c1216c","name":"Emre Yumlu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3618e7041e2880ae9fdfeec9b77592ba6e9417ff89cfe4db07e0d1687a477d7b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3618e7041e2880ae9fdfeec9b77592ba6e9417ff89cfe4db07e0d1687a477d7b?s=96&d=mm&r=g","caption":"Emre Yumlu"},"url":"https:\/\/coinengineer.net\/blog\/author\/ceemre\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/52337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=52337"}],"version-history":[{"count":2,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/52337\/revisions"}],"predecessor-version":[{"id":52340,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/52337\/revisions\/52340"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/52466"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=52337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=52337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=52337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}