Lighter vs Arcus
Lighter traded 3.9× Arcus's 24-hour volume ($968.2M vs $246.2M) and holds 5.6× its open interest.
Head to head
the arrow points to the better figure| Lighter | Arcus | |
|---|---|---|
| Trading | ||
| $0.54 | ◀BTC trade, $10k | $4.51 |
| $317 | ◀BTC trade, $1M | $659 |
| $8.2M | ◀BTC book depth | $3.4M |
| 0.000%/0.000% | ◀Taker / maker | 0.022%/0.000% |
| 50x | Max leverage≈ | 50x |
| Size | ||
| $968.2M | ◀Volume 24h | $246.2M |
| $1.66B | ◀Volume, 7-day average | $458.2M |
| $558.3M | ◀Open interest | $100.5M |
| $636.8M | ◀TVL | $48.9M |
| Markets | ||
| 197 | ◀Markets | 60 |
| 95 | ◀Stocks & RWA | 36 |
| 1h | Funding paid every | 1h |
| +0.0032% | BTC funding /8h | +0.0100% |
| +0.590% | 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 | $0.010.1 bp | $0.454.5 bp |
| $10k | $0.540.5 bp | $4.514.5 bp |
| $100k | $10.591.1 bp | $46.254.6 bp |
| $1M | $3173.2 bp | $6596.6 bp |
| $5M | $4,0108.0 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 | +0.0032% | +0.0100% | +0.0068% | +$5 |
| ETH | +0.0024% | +0.0100% | +0.0076% | +$15 |
| HYPE | +0.0088% | +0.0291% | +0.0203% | +$1 |
| SOL | +0.0096% | +0.0100% | +0.0004% | +$40 |
| LIT | +0.0096% | +0.0100% | +0.0004% | −$2 |
| ZEC | +0.0096% | +0.0100% | +0.0004% | +$9 |
| NEAR | +0.0096% | +0.0100% | +0.0004% | −$6 |
| ENA | +0.0096% | +0.0100% | +0.0004% | +$11 |
| BNB | +0.0080% | +0.0100% | +0.0020% | −$4 |
| FARTCOIN | +0.0096% | +0.0100% | +0.0004% | +$28 |
| PUMP | +0.0096% | +0.0100% | +0.0004% | −$10 |
| XRP | −0.0080% | +0.0100% | +0.0180% | +$24 |
| UNI | +0.0096% | +0.0199% | +0.0103% | −$15 |
| LINK | 0.0000% | +0.0100% | +0.0100% | −$7 |
| CASHCAT | −0.4608% | −0.4006% | +0.0602% | +$33 |
| AAVE | +0.0096% | +0.0100% | +0.0004% | −$15 |
| PONS | +0.0096% | +0.0100% | +0.0004% | −$20 |
| SUI | +0.0096% | +0.0100% | +0.0004% | −$20 |
| USELESS | +0.0096% | +0.0100% | +0.0004% | −$11 |
| DOGE | +0.0096% | +0.0100% | +0.0004% | −$8 |
Only on Lighter: 156
XAU · ZRO · WLD · XPL · XAG · CL · SP500 · SKHYNIX · NAS100 · GRAM · BZ · ADA · EUR · XMR · PAXG · ANTHROPIC · SAMSUNG · OPENAI · AERO · AVAX · USDCAD · VVV · NATGAS · USDCHF · GRASS · ETHFI · LTC · LDO · SOXL · ASTER · ARB · USDKRW · STRC · STABLECOINX · US10Y · ONDO · STRK · JUP · COPPER · HBAR · BMNR · BCH · APT · TIA · VIRTUAL · EIGEN · MEGA · AI · MORPHO · PEPE · XPD · TRUMP · USDJPY · SKY · PENDLE · AUD · CHIP · MON · GBP · XPT · and 96 more
Questions
Is Lighter or Arcus cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $0.54 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: 19 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 SOL, long on Lighter and short on Arcus, with $40 left after costs.
Which is bigger, Lighter or Arcus?
24-hour volume: Lighter $968.2M, Arcus $246.2M. Open interest as each reports it: $558.3M and $100.5M. TVL: $636.8M and $48.9M.