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Lighter Uses Pyth Indices to Expand Perpetual Markets Beyond Crypto
Lighter Uses Pyth Indices to Expand Perpetual Markets Beyond Crypto
Lighter is expanding perpetual markets beyond crypto into equities and other real-world assets. As a Pyth Indices subscriber, Lighter has access to 24/7 index products as part of its broader market-data stack.
Challenge
Lighter is a decentralized trading venue built on an Ethereum zero-knowledge rollup. Alongside crypto markets, it offers perpetual markets linked to real-world assets, including equities and commodities.
Those markets do not follow one schedule. Underlying exchanges operate in different sessions and time zones, with local holidays, symbols, liquidity conditions and data requirements. A venue that wants to expand its RWA offering needs pricing inputs that can support those differences.
The challenge gets sharper when perpetual markets stay open after the underlying market closes. Trading, risk management and liquidations still need a pricing input, even when there is no new exchange trade. Data can quickly become a constraint on how fast a venue adds markets.
Solution
Lighter subscribes to Pyth Indices as one component of its broader market-data stack. Pyth Indices gives Lighter access to 24/7 index products built from Pyth price feeds and defined methodologies for assets that may not trade continuously on their underlying venues.
Each Pyth Index is constructed from Pyth price feeds and follows a defined methodology. The products provide continuous pricing across supported asset categories, including equities, commodities, metals, FX and futures.
That distinction matters. A 24/7 index is a constructed pricing product, not a claim that an underlying exchange trades continuously. Its methodology defines how the product continues across the hours when the underlying market may be closed.
Lighter is evaluating how to apply this coverage as it expands its real-world asset markets, while remaining responsible for market design, execution and risk controls.
Impact
Continuous pricing for supported markets: Pyth Indices are designed for products that need pricing beyond traditional exchange hours.
Broader RWA expansion: Lighter can add supported equity and commodity markets alongside its crypto markets.
A more consistent market-data workflow: A defined index methodology can reduce the need for bespoke pricing logic for each supported product.
Focus on the venue experience: Lighter can focus on execution, market design and risk controls while using Pyth Indices where they fit its requirements.
Explore Pyth Indices to request access to existing products or discuss a custom custom build.
