Head to head
the arrow points to the better figure| Lighter RH | Bybit | |
|---|---|---|
| Trading | ||
| $1.72 | ◀BTC trade, $10k | $11.31 |
| $1,066 | ◀BTC trade, $1M | $1,304 |
| $3.7M | BTC book depth▶ | $22.4M |
| 0.000%/0.000% | ◀Taker / maker | 0.055%/0.020% |
| 50x | Max leverage▶ | 150x |
| Size | ||
| $645.5M | Volume 24h▶ | $18.08B |
| $654.5M | Volume, 7-day average▶ | $13.34B |
| $169.1Mone side | Open interest | $11.84Blongs + shorts |
| $112.4M | TVL | — |
| Markets | ||
| 67 | Markets▶ | 894 |
| 48 | Stocks & RWA▶ | 294 |
| 1h | Funding paid every | 1h or 4h or 8h |
| +0.0096% | BTC funding /8h | +0.0100% |
| +0.612% | BTC longs paid, 30d | +0.469% |
| Access | ||
| No ID | ◀KYC | Required |
| $LIT | Token | none yet |
| Points live | Airdrop | — |
Cost to trade BTC
| Size | Lighter RH | Bybit |
|---|---|---|
| $1k | $0.161.6 bp | $1.1011.0 bp |
| $10k | $1.721.7 bp | $11.3111.3 bp |
| $100k | $20.002.0 bp | $12012.0 bp |
| $1M | $1,06610.7 bp | $1,30413.0 bp |
| $5M | — | $7,56415.1 bp |
BTC funding per day
pair pageSize
daily, last 90 daysVolume by asset class
last 90 daysOn both: 58
funding /8h · Net 7d at $10k| Asset | Lighter RH | Bybit | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0096% | +0.0100% | +0.0004% | −$15 |
| ETH | +0.0096% | −0.0066% | +0.0162% | −$7 |
| HYPE | +0.0096% | +0.0100% | +0.0004% | −$25 |
| SOL | +0.0032% | −0.0197% | +0.0229% | −$9 |
| LIT | +0.0072% | −0.0813% | +0.0885% | +$3 |
| NEAR | +0.0096% | +0.0100% | +0.0004% | −$23 |
| ZEC | +0.0096% | +0.0100% | +0.0004% | −$25 |
| XRP | +0.0096% | −0.0199% | +0.0295% | −$3 |
| SUI | −0.0048% | −0.0554% | +0.0506% | −$16 |
| VVV | +0.0080% | +0.0100% | +0.0020% | −$72 |
| UNI | +0.0096% | +0.0100% | +0.0004% | −$49 |
| XMR | +0.1184% | +0.0992% | +0.0192% | −$11 |
| AAVE | −0.0248% | +0.0100% | +0.0348% | −$30 |
| TRX | −0.0472% | −0.0778% | +0.0306% | −$47 |
| PONS | +0.0096% | −0.0755% | +0.0851% | −$67 |
| CASHCAT | +0.0096% | +0.0100% | +0.0004% | −$135 |
| LINK | +0.0032% | −0.0071% | +0.0103% | −$11 |
| ZRO | +0.0096% | +0.0100% | +0.0004% | — |
| USELESS | +0.0096% | +0.0100% | — | — |
Only on Bybit: 767
XAUT · DOGE · BNB · ENA · AVAX · LTC · PEPE · CL · ASTER · ADA · ONDO · WLD · BCH · PUMP · XLM · MNT · TAO · SKHYNIX · PAXG · HBAR · MSTR · GRAM · WLFI · XPL · KORU · TRUMP · ARB · GRASS · INJ · DOT · CRV · APT · QNT · PENGU · FARTCOIN · STRK · POL · FIL · CAP · ATOM · ICP · ETHFI · AERO · MON · SOXS · CC · NBIS · OP · LDO · SPX · BZ · PENDLE · WIF · TIA · VIRTUAL · FF · USDC · STX · SEI · ETC · and 707 more
Questions
Is Lighter RH or Bybit cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $1.72 on Lighter RH and $11.31 on Bybit right now, taker fee and order-book slippage together, so Lighter RH is cheaper. Taker fees: 0% and 0.055%. Lighter RH: 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 RH or Bybit?
Lighter RH lists 67 active markets and Bybit 894; 58 assets trade on both, 39 of them stocks, commodities or other real-world assets.
Does Lighter RH or Bybit require KYC?
Lighter RH: No ID, wallet connect only; closed to 18 regions including the US, UK, Canada, China, Russia, Switzerland, Singapore and the UAE. Bybit: Standard verification is mandatory for every product.
Can you arbitrage funding between Lighter RH and Bybit?
Yes: 1 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 LIT, long on Bybit and short on Lighter RH, with $3 left after costs.
Which is bigger, Lighter RH or Bybit?
24-hour volume: Lighter RH $645.5M, Bybit $18.08B. Open interest as each reports it: $169.1M and $11.84B. Bybit reports open interest as longs plus shorts, both sides of every position; Lighter RH reports one side. For the same positions Bybit's figure reads about twice as large. TVL: $112.4M and none published.