Lighter vs Avantis
Head to head
the arrow points to the better figure| Lighter | Avantis | |
|---|---|---|
| Trading | ||
| $1.18 | BTC trade, $10k | — |
| $277 | BTC trade, $1M | — |
| $14.8M | BTC book depth | — |
| 0.000%/0.000% | ◀Taker / maker | 0.020%/0.001% |
| 50x | Max leverage▶ | 500x |
| Size | ||
| $2.71B | ◀Volume 24h | — |
| $2.15B | Volume, 7-day average | — |
| $516.7Mone side | Open interest | $69.6Mlongs + shorts |
| $579.7M | ◀TVL | $10.6M |
| Markets | ||
| 201 | ◀Markets | 118 |
| 96 | Stocks & RWA▶ | 120 |
| 1h | Funding paid every | 1h |
| +0.0096% | BTC funding /8h | L +0.0096% / S −0.0096% |
| +0.682% | BTC longs paid, 30d | +0.677% |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | $AVNT |
| Season 3 | Airdrop | Season 3 |
Cost to trade BTC
| Size | Lighter | Avantis |
|---|---|---|
| $1k | $0.101.0 bp | — |
| $10k | $1.181.2 bp | — |
| $100k | $15.611.6 bp | — |
| $1M | $2772.8 bp | — |
| $5M | $4,3438.7 bp | — |
BTC funding per day
pair pageVolume by asset class
last 90 daysOn both: 94
funding /8h · Net 7d at $10k| Asset | Lighter | Avantis | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0096% | L +0.0096% / S −0.0096% | 0.0000% | — |
| ETH | +0.0096% | L +0.0096% / S −0.0096% | 0.0000% | — |
| HYPE | +0.0096% | L +0.0233% / S +0.0041% | −0.0137% | — |
| VVV | +0.0096% | L −0.0075% / S +0.0166% | +0.0171% | — |
| SOL | +0.0096% | L +0.0142% / S −0.0050% | — | — |
| AERO | +0.0096% | L +0.0237% / S +0.0037% | — | — |
| SUI | +0.0064% | L +0.0146% / S −0.0053% | — | — |
| BNB | +0.0096% | L +0.0146% / S −0.0061% | — | — |
| DOGE | +0.0096% | L +0.0146% / S −0.0054% | — | — |
| NEAR | +0.0096% | L −0.0019% / S +0.0110% | — | — |
| PUMP | +0.0096% | L +0.0237% / S +0.0037% | — | — |
| AAVE | +0.0096% | L +0.0081% / S +0.0011% | — | — |
| ZRO | −0.1032% | L −0.0029% / S +0.0120% | — | — |
| LINK | +0.0096% | L +0.0146% / S −0.0054% | — | — |
| ONDO | +0.0096% | L −0.0017% / S +0.0280% | — | — |
| ZEC | +0.0192% | L +0.0078% / S +0.0013% | — | — |
| AVNT | +0.0096% | L +0.0237% / S +0.0040% | — | — |
| AVAX | +0.0096% | L −0.0015% / S +0.0102% | — | — |
| PENDLE | +0.0096% | L +0.0237% / S +0.0025% | — | — |
| ENA | +0.0048% | L +0.0141% / S −0.0050% | — | — |
Only on Lighter: 117
QQQ · SKHYNIX · GOOGL · SPY · NAS100 · SOXL · ANTHROPIC · NATGAS · SAMSUNG · PAXG · ADA · SP500 · OPENAI · GRAM · SKHY · USDKRW · UNITREE · UNI · WLFI · LTC · DRAM · GRASS · BMNR · BCH · SKY · US10Y · XPD · CRV · XPT · CC · TRX · ORCL · STABLECOINX · PEPE · MORPHO · DRV · HBAR · APT · COPPER · MEGA · CAP · STONK · STRK · SPX · XLM · XTEN · BONK · MET · TSM · OURA · CHIP · DOT · SYRUP · LINEA · IBM · GMX · MNT · FOLKS · S · PYTH · and 57 more
Only on Avantis: 78
AXON · BTC_UPSIDE · SOL_UPSIDE · XRP_UPSIDE · ETH_UPSIDE · GOOG · USDSGD · INJ · RENDER · NFLX · USDCNH · USDSEK · LLY · LRCX · REZ · AMGN · TXN · APP · CSCO · KLAC · PANW · HYPE_UPSIDE · 069500KRW · 005930KRW · STX · VST · TER · MELI · SOFI · ASTS · SHOP · INTU · BKNG · ADI · WMT · HON · LIN · MPWR · ADSK · TMUS · SNPS · CDNS · CEG · MCHP · ISRG · REGN · NXPI · DDOG · FTNT · VRTX · BA · GRAB · ADBE · ABNB · ALAB · PDD · GILD · PYPL · UBER · ANET · and 18 more
Questions
Which has more markets, Lighter or Avantis?
Lighter lists 201 active markets and Avantis 118; 94 assets trade on both, 47 of them stocks, commodities or other real-world assets.
Does Lighter or Avantis 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. Avantis: No ID; not for US persons or sanctioned regions.
Can you arbitrage funding between Lighter and Avantis?
Not profitably right now: none of the 94 assets on both paid more in funding over the last 7 days than a round trip on both costs.
Which is bigger, Lighter or Avantis?
24-hour volume: Lighter $2.71B, Avantis {vb}. Open interest as each reports it: $516.7M and $69.6M. Avantis reports open interest as the sum of its traders' longs and shorts; Lighter reports one side. For the same positions Avantis's figure reads about twice as large. TVL: $579.7M and $10.6M.