Lighter vs Arcus
Lighter traded 4.1× Arcus's 24-hour volume ($2.54B vs $623.3M) and holds 8.4× its open interest.
Head to head
the arrow points to the better figure| Lighter | Arcus | |
|---|---|---|
| Trading | ||
| $0.38 | ◀BTC trade, $10k | $4.51 |
| $203 | ◀BTC trade, $1M | $706 |
| $11.6M | ◀BTC book depth | $3.4M |
| 0.000%/0.000% | ◀Taker / maker | 0.022%/0.000% |
| 50x | Max leverage≈ | 50x |
| Size | ||
| $2.54B | ◀Volume 24h | $623.3M |
| $1.61B | ◀Volume, 7-day average | $460.8M |
| $593.7M | ◀Open interest | $70.9M |
| $649.2M | ◀TVL | $43.8M |
| Markets | ||
| 197 | ◀Markets | 60 |
| 95 | ◀Stocks & RWA | 36 |
| 1h | Funding paid every | 1h |
| +0.0088% | BTC funding /8h | +0.0100% |
| +0.647% | BTC longs paid, 30d | — |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | none yet |
| Season 3 | Airdrop | Active |
Cost to trade BTC
| Size | Lighter | Arcus |
|---|---|---|
| $1k | $0.040.4 bp | $0.454.5 bp |
| $10k | $0.380.4 bp | $4.514.5 bp |
| $100k | $7.310.7 bp | $49.444.9 bp |
| $1M | $2032.0 bp | $7067.1 bp |
| $5M | $3,0516.1 bp | — |
BTC funding per day
pair pageSize
daily, last 90 daysVolume by asset class
last 90 daysOn both: 54
funding /8h · Net 7d at $10k| Asset | Lighter | Arcus | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0088% | +0.0100% | +0.0012% | −$1 |
| ETH | +0.0032% | +0.0100% | +0.0068% | +$8 |
| SOL | −0.0184% | +0.0100% | +0.0284% | +$27 |
| HYPE | +0.0096% | +0.0100% | +0.0004% | −$6 |
| ZEC | +0.0096% | +0.0100% | +0.0004% | +$4 |
| NEAR | +0.0096% | +0.0100% | +0.0004% | −$12 |
| ENA | +0.0096% | +0.0327% | +0.0231% | −$16 |
| LIT | +0.0096% | +0.0267% | +0.0171% | −$1 |
| FARTCOIN | +0.0096% | +0.0761% | +0.0665% | +$17 |
| UNI | +0.0096% | +0.0100% | +0.0004% | −$13 |
| CASHCAT | +0.1664% | +0.2734% | +0.1070% | +$36 |
| PUMP | +0.0096% | +0.0100% | +0.0004% | −$10 |
| BNB | −0.0080% | +0.0100% | +0.0180% | −$8 |
| LINK | +0.0096% | +0.0100% | +0.0004% | −$11 |
| PONS | +0.0096% | +0.0100% | +0.0004% | −$17 |
| TAO | +0.0096% | +0.0170% | +0.0074% | −$7 |
| XRP | −0.0328% | +0.0100% | +0.0428% | +$4 |
| DOGE | +0.0096% | +0.0100% | +0.0004% | $0 |
| SUI | +0.0096% | +0.0100% | +0.0004% | −$21 |
| AAVE | +0.0096% | +0.0100% | +0.0004% | −$19 |
Only on Lighter: 156
XAU · ZRO · WLD · XPL · CL · XAG · SKHYNIX · SP500 · BZ · NAS100 · PAXG · XMR · ADA · EUR · ANTHROPIC · GRAM · SAMSUNG · OPENAI · USDCAD · AERO · NATGAS · AVAX · VVV · ETHFI · USDCHF · LTC · LDO · GRASS · ARB · USDKRW · ASTER · STABLECOINX · STRC · SOXL · ONDO · US10Y · HBAR · JUP · COPPER · BCH · BMNR · PEPE · APT · VIRTUAL · EIGEN · MEGA · MORPHO · XPD · MON · SKY · AUD · TRUMP · GBP · USDJPY · PENDLE · TRX · TIA · XPT · STONK · STRK · and 96 more
Questions
Is Lighter or Arcus cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $0.38 on Lighter and $4.51 on Arcus right now, taker fee and order-book slippage together, so Lighter is cheaper. Taker fees: 0% and 0.0225%. Lighter: 0 / 0 is the default Standard account, whose taker orders wait 300 ms; a Premium account (140 ms) pays 0.4 bp maker, 2.8 bp taker.
Which has more markets, Lighter or Arcus?
Lighter lists 197 active markets and Arcus 60; 54 assets trade on both, 30 of them stocks, commodities or other real-world assets.
Does Lighter or Arcus require KYC?
Lighter: No ID (the card deposit on-ramp is optional); not for the US, Canada, the UK, China, Russia, Ukraine or sanctioned countries. Arcus: No ID; not available in the US, Canada, the UK or sanctioned regions.
Can you arbitrage funding between Lighter and Arcus?
Yes: 13 of the assets on both paid more in funding over the last 7 days than a $10k round trip on both costs. The best was CASHCAT, long on Lighter and short on Arcus, with $36 left after costs.
Which is bigger, Lighter or Arcus?
24-hour volume: Lighter $2.54B, Arcus $623.3M. Open interest as each reports it: $593.7M and $70.9M. TVL: $649.2M and $43.8M.