Lighter vs GRVT
Lighter traded 1.3× GRVT's 24-hour volume ($538.2M vs $412.4M) and holds 1.2× its open interest.
Head to head
the arrow points to the better figure| Lighter | GRVT | |
|---|---|---|
| Trading | ||
| $0.60 | ◀BTC trade, $10k | $9.01 |
| $271 | ◀BTC trade, $1M | $1,032 |
| $15.3M | ◀BTC book depth | $4.3M |
| 0.000%/0.000% | ◀Taker / maker | 0.045%/0.000% |
| 50x | Max leverage≈ | 50x |
| Size | ||
| $538.2M | ◀Volume 24h | $412.4M |
| $1.39B | ◀Volume, 7-day average | $480.8M |
| $591.3M | ◀Open interest | $474.1M |
| $663.6M | ◀TVL | $34.2M |
| Markets | ||
| 196 | Markets≈ | 184 |
| 90 | Stocks & RWA▶ | 105 |
| 1h | Funding paid every | 4h or 8h |
| +0.0072% | BTC funding /8h | +0.0100% |
| +0.677% | BTC longs paid, 30d | +0.703% |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | $GRVT |
| Season 3 | Airdrop | Active |
Cost to trade BTC
| Size | Lighter | GRVT |
|---|---|---|
| $1k | $0.050.5 bp | $0.909.0 bp |
| $10k | $0.600.6 bp | $9.019.0 bp |
| $100k | $10.361.0 bp | $90.129.0 bp |
| $1M | $2712.7 bp | $1,03210.3 bp |
| $5M | $3,6977.4 bp | — |
HYPE funding per day
pair pageSize
daily, last 30 daysVolume by asset class
last 30 daysOn both: 120
funding /8h · Net 7d at $10k| Asset | Lighter | GRVT | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0072% | +0.0100% | +0.0028% | +$2 |
| ETH | +0.0056% | +0.0100% | +0.0044% | −$8 |
| SOL | +0.0056% | +0.0100% | +0.0044% | $0 |
| HYPE | +0.0096% | +0.0100% | +0.0004% | −$6 |
| BNB | +0.0096% | +0.0316% | +0.0220% | −$15 |
| ZEC | +0.0376% | +0.0100% | +0.0276% | −$5 |
| PUMP | +0.0096% | +0.0100% | +0.0004% | −$34 |
| NEAR | +0.0096% | +0.0100% | +0.0004% | −$50 |
| PAXG | +0.0096% | +0.0100% | +0.0004% | +$13 |
| XRP | +0.0096% | +0.0056% | +0.0040% | −$12 |
| LIT | +0.0096% | +0.0100% | +0.0004% | −$42 |
| JUP | +0.0096% | +0.0100% | +0.0004% | −$49 |
| UNI | +0.0096% | +0.0100% | +0.0004% | −$25 |
| LINK | +0.0096% | +0.0007% | +0.0089% | −$2 |
| AAVE | +0.0096% | +0.0100% | +0.0004% | −$29 |
| DOGE | +0.0096% | +0.0100% | +0.0004% | −$21 |
| PENDLE | +0.0096% | +0.0100% | +0.0004% | −$59 |
| SUI | +0.0096% | +0.0100% | +0.0004% | −$23 |
| MON | +0.0096% | +0.0100% | +0.0004% | −$101 |
| VIRTUAL | +0.0096% | +0.0100% | +0.0004% | −$43 |
Only on Lighter: 88
ZRO · NAS100 · GRAM · SKHYNIXUSD · EUR · SAMSUNGUSD · VVV · SP500 · USDCAD · AERO · SPCX · PONS · ETHFI · GRASS · USDCHF · PEPE · USELESS · CASHCAT · SKY · STABLECOINX · USDKRW · US10Y · STONK · AUD · APT · NZDUSD · AI · USDJPY · BB · GBP · TRX · TIA · BONK · ANSEM · SYRUP · SHIB · PYTH · SPX · JTO · RAY · MNT · UNITREE · MET · CHIP · STABLE · ZHIPU · S · DYDX · 0G · GMX · FOLKS · CXMT · OURA · STBL · BOT · DASH · NMR · AZTEC · TENCENT · FF · and 28 more
Only on GRVT: 64
H · KPEPE · ATOM · EWJ · CFX · ZEN · KSHIB · KAIA · MOODENG · GRVT · KBONK · GIGGLE · SAHARA · W · BARD · SKHYNIX · PAYP · BASED · LA · SAMSUNG · FLNC · SPACEX · XLE · V · UVXY · IREN · JPM · BRKB · TQQQ · EWT · UBER · ONDS · LLY · COHR · CRWD · BBX · USAR · DIS · NVO · CSCO · KODEX200 · BX · QNTX · HYUNDAI · EWZ · HANMI · NFLX · NAVER · KSTR · SAMSUNGEM · AMAT · XAUT · URNM · ASTS · CRDO · HD · WMT · GLW · SQQQ · GS · and 4 more
Questions
Is Lighter or GRVT cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $0.60 on Lighter and $9.01 on GRVT right now, taker fee and order-book slippage together, so Lighter is cheaper. Taker fees: 0% and 0.045%. 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 GRVT?
Lighter lists 196 active markets and GRVT 184; 120 assets trade on both, 59 of them stocks, commodities or other real-world assets.
Does Lighter or GRVT 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. GRVT: No ID since Aug 2025 (AML reviews can still ask for documents); not for the US, Canada, Singapore, Hong Kong, Russia or sanctioned countries.
Can you arbitrage funding between Lighter and GRVT?
Yes: 6 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 DRAM, long on GRVT and short on Lighter, with $13 left after costs.
Which is bigger, Lighter or GRVT?
24-hour volume: Lighter $538.2M, GRVT $412.4M. Open interest as each reports it: $591.3M and $474.1M. TVL: $663.6M and $34.2M.