# Lighter (/venues-and-markets/lighter)



Lighter is a non-custodial on-chain perp venue, a zk-rollup orderbook DEX, available in Orchard alongside Hyperliquid on the **Orchard web app** and **Pear Pro**. Trading on Lighter works the same way from your side: build a pair or basket, set your order, open. Orchard handles venue-specific routing and instrument resolution behind the scenes. Baskets are supported.

**Key facts**

* **Type:** zk-rollup orderbook perp DEX (its own L2)
* **Collateral:** USDC on Lighter's L2
* **Custody:** non-custodial, collateral sits in your Lighter account (no agent wallet).
* **Where:** Orchard web app (retail) and Pear Pro
* **Docs:** [docs.lighter.xyz](https://docs.lighter.xyz/)

## How connecting works [#how-connecting-works]

Lighter's account model is different, and the connect flow reflects it:

* **No agent-wallet approval.** Instead, Pear's backend generates and holds an encrypted L2 API key for your Lighter account and signs every order server-side.
* **Two one-time signatures** from your L1 wallet: creating the API key, and authorizing Pear as the integrator.
* **Your first deposit creates your account** (USDC on Lighter's L2).

## Order mechanics [#order-mechanics]

Pear's Lighter connector currently submits immediate-or-cancel (IOC)/market-style orders. The same order styles (Market, Trigger, TWAP, Ladder) work as on Hyperliquid, with take-profit/stop-loss (TP/SL) orders synthesized by Pear's engine on top of those fills. (Lighter is an orderbook venue and may support its own native limit orders outside Pear.)

## Fees [#fees]

Pear's standard fee schedule applies (see [Trading fees](/fees/trading-fees)); on Lighter it is collected through Lighter's integrator-fee mechanism. Lighter does not currently charge its own per-trade fee on top.

## Asset coverage [#asset-coverage]

Lighter is Pear's second venue for cross-asset perps. Alongside Hyperliquid's HIP-3 markets, Lighter lists US and Asian equities, FX, commodities, and pre-IPO markets (see [Asset classes](/venues-and-markets/asset-classes)). A position cannot straddle venues: all legs of a pair or basket must list on the same venue.