Lighter vs Arcus
Lighter traded 4.4× Arcus's 24-hour volume ($1.48B vs $333.2M) and holds 6.7× its open interest.
Head to head
the arrow points to the better figure| Lighter | Arcus | |
|---|---|---|
| Trading | ||
| $0.40 | ◀BTC trade, $10k | $4.51 |
| $223 | ◀BTC trade, $1M | $667 |
| $12.7M | ◀BTC book depth | $3.3M |
| 0.000%/0.000% | ◀Taker / maker | 0.022%/0.000% |
| 50x | Max leverage≈ | 50x |
| Size | ||
| $1.48B | ◀Volume 24h | $333.2M |
| $1.60B | ◀Volume, 7-day average | $451.3M |
| $580.6M | ◀Open interest | $86.6M |
| $642.4M | ◀TVL | $47.4M |
| Markets | ||
| 197 | ◀Markets | 60 |
| 95 | ◀Stocks & RWA | 36 |
| 1h | Funding paid every | 1h |
| −0.0008% | BTC funding /8h | +0.0100% |
| +0.620% | BTC longs paid, 30d | — |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | none yet |
| Season 3 | Airdrop | Active |
Cost to trade ETH
| Size | Lighter | Arcus |
|---|---|---|
| $1k | $0.030.3 bp | $0.454.5 bp |
| $10k | $0.280.3 bp | $4.694.7 bp |
| $100k | $12.641.3 bp | $52.765.3 bp |
| $1M | $3343.3 bp | $9229.2 bp |
| $5M | $3,9077.8 bp | — |
BTC funding per day
pair pageSize
daily, last yearVolume by asset class
last yearOn both: 54
funding /8h · Net 7d at $10k| Asset | Lighter | Arcus | Spread | Net 7d |
|---|---|---|---|---|
| BTC | −0.0008% | +0.0100% | +0.0108% | +$1 |
| ETH | +0.0056% | +0.0100% | +0.0044% | +$13 |
| HYPE | +0.0056% | +0.0242% | +0.0186% | −$2 |
| SOL | −0.0144% | +0.0100% | +0.0244% | +$37 |
| NEAR | +0.0096% | +0.0277% | +0.0181% | −$4 |
| ZEC | +0.0096% | +0.0100% | +0.0004% | +$4 |
| LIT | +0.0096% | +0.0100% | +0.0004% | −$1 |
| ENA | +0.0096% | +0.1048% | +0.0952% | $0 |
| PUMP | +0.0096% | +0.0293% | +0.0197% | −$9 |
| BNB | +0.0096% | +0.0100% | +0.0004% | −$5 |
| FARTCOIN | +0.0096% | +0.0314% | +0.0218% | +$19 |
| UNI | +0.0096% | +0.0100% | +0.0004% | −$13 |
| CASHCAT | −0.1688% | +0.0100% | +0.1788% | +$52 |
| LINK | 0.0000% | +0.0100% | +0.0100% | −$12 |
| XRP | −0.0256% | +0.0100% | +0.0356% | +$19 |
| PONS | +0.0096% | +0.0100% | +0.0004% | −$12 |
| SUI | +0.0096% | +0.0100% | +0.0004% | −$28 |
| DOGE | +0.0096% | +0.0100% | +0.0004% | +$3 |
| AAVE | +0.0096% | +0.0100% | +0.0004% | −$17 |
| USELESS | +0.0096% | +0.0100% | +0.0004% | −$6 |
Only on Lighter: 156
XAU · ZRO · WLD · XPL · XAG · CL · SKHYNIX · SP500 · NAS100 · GRAM · BZ · ADA · EUR · PAXG · XMR · ANTHROPIC · SAMSUNG · OPENAI · USDCAD · AERO · NATGAS · VVV · AVAX · ETHFI · USDCHF · LTC · LDO · GRASS · SOXL · ARB · ONDO · USDKRW · ASTER · STRC · STABLECOINX · US10Y · JUP · HBAR · COPPER · BMNR · BCH · APT · VIRTUAL · TIA · EIGEN · MEGA · MORPHO · PEPE · XPD · SKY · STRK · TRUMP · MON · USDJPY · PENDLE · AUD · GBP · XPT · NZD · CRV · and 96 more
Questions
Is Lighter or Arcus cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $0.40 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: 17 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 $52 left after costs.
Which is bigger, Lighter or Arcus?
24-hour volume: Lighter $1.48B, Arcus $333.2M. Open interest as each reports it: $580.6M and $86.6M. TVL: $642.4M and $47.4M.