Head to head
the arrow points to the better figure| Lighter | GMX | |
|---|---|---|
| Trading | ||
| $1.18 | BTC trade, $10k | — |
| $277 | BTC trade, $1M | — |
| $14.8M | BTC book depth | — |
| 0.000%/0.000% | ◀Taker / maker | 0.060%/0.040% |
| 50x | Max leverage▶ | 100x |
| Size | ||
| $2.72B | ◀Volume 24h | $68.6M |
| $2.15B | ◀Volume, 7-day average | $62.5M |
| $517.3Mone side | Open interest | $48.7Mlongs + shorts |
| $579.7M | ◀TVL | $203.8M |
| Markets | ||
| 201 | ◀Markets | 124 |
| 96 | ◀Stocks & RWA | 8 |
| 1h | Funding paid every | 1h |
| +0.0096% | BTC funding /8h | L +0.0192% / S −0.0170% |
| +0.682% | BTC longs paid, 30d | +1.294% |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | $GMX |
| Season 3 | Airdrop | Not active |
Cost to trade BTC
| Size | Lighter | GMX |
|---|---|---|
| $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: 83
funding /8h · Net 7d at $10k| Asset | Lighter | GMX | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0096% | L +0.0192% / S −0.0170% | +0.0074% | — |
| ETH | +0.0096% | L +0.0225% / S −0.0204% | +0.0108% | — |
| SOL | +0.0096% | L +0.0130% / S −0.0122% | +0.0026% | — |
| LINK | +0.0096% | L +0.0192% / S −0.0146% | +0.0050% | — |
| SUI | +0.0064% | L +0.0491% / S −0.0193% | +0.0127% | — |
| XRP | +0.0096% | L +0.0336% / S −0.0214% | +0.0118% | — |
| ONDO | +0.0096% | L +0.0429% / S −0.0145% | +0.0049% | — |
| VVV | +0.0096% | L +0.0328% / S −0.0154% | +0.0057% | — |
| XMR | +0.1528% | L +0.0848% / S −0.0758% | +0.0682% | — |
| ZEC | +0.0192% | L −0.0140% / S +0.0166% | +0.0332% | — |
| ARB | −0.0144% | L +0.0074% / S +0.0018% | +0.0126% | — |
| DOGE | +0.0096% | L +0.0196% / S −0.0117% | +0.0021% | — |
| AVAX | +0.0096% | L +0.0368% / S −0.0084% | −0.0012% | — |
| HYPE | +0.0096% | L +0.0121% / S −0.0097% | +0.0002% | — |
| NEAR | +0.0096% | L +0.0385% / S −0.0052% | −0.0044% | — |
| ADA | +0.0096% | L +0.0535% / S −0.0248% | +0.0152% | — |
| TAO | +0.0024% | L +0.0331% / S −0.0184% | +0.0160% | — |
| AAVE | +0.0096% | L +0.0312% / S −0.0149% | +0.0053% | — |
| LIT | +0.0016% | L −0.0044% / S +0.0273% | −0.0060% | — |
| UNI | +0.0096% | L +0.0247% / S −0.0250% | +0.0154% | — |
Only on Lighter: 128
AAPL · SKHYNIX · GOOGL · MU · NVDA · NAS100 · SNDK · CRCL · SOXL · META · ANTHROPIC · AMD · EUR · TSLA · MSFT · INTC · AMZN · MSTR · SAMSUNG · PAXG · SP500 · OPENAI · GRAM · SKHY · USDKRW · UNITREE · STRC · DRAM · USDJPY · COIN · GRASS · BMNR · HOOD · USELESS · NBIS · LITE · PLTR · ETHFI · USDCHF · PONS · US10Y · XPD · BABA · MRVL · XPT · ORCL · STABLECOINX · CASHCAT · DRV · DELL · COPPER · EWY · CAP · STONK · STRK · CBRS · MRNA · XTEN · BONK · TSM · and 68 more
Questions
Which has more markets, Lighter or GMX?
Lighter lists 201 active markets and GMX 124; 83 assets trade on both, 8 of them stocks, commodities or other real-world assets.
Does Lighter or GMX 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. GMX: No ID.
Can you arbitrage funding between Lighter and GMX?
Not profitably right now: none of the 83 assets on both paid more in funding over the last 7 days than a round trip on both costs.
Which is bigger, Lighter or GMX?
24-hour volume: Lighter $2.72B, GMX $68.6M. Open interest as each reports it: $517.3M and $48.7M. GMX reports open interest as the sum of its traders' longs and shorts; Lighter reports one side. For the same positions GMX's figure reads about twice as large. TVL: $579.7M and $203.8M.