Lighter vs GRVT
Lighter traded 1.4× GRVT's 24-hour volume ($552.4M vs $398.2M) and holds 1.2× its open interest.
Head to head
the arrow points to the better figure| Lighter | GRVT | |
|---|---|---|
| Trading | ||
| $0.62 | ◀BTC trade, $10k | $9.01 |
| $275 | ◀BTC trade, $1M | $1,171 |
| $12.4M | ◀BTC book depth | $4.3M |
| 0.000%/0.000% | ◀Taker / maker | 0.045%/0.000% |
| 50x | Max leverage≈ | 50x |
| Size | ||
| $552.4M | ◀Volume 24h | $398.2M |
| $1.39B | ◀Volume, 7-day average | $480.8M |
| $591.0M | ◀Open interest | $474.8M |
| $663.6M | ◀TVL | $34.2M |
| Markets | ||
| 196 | Markets≈ | 184 |
| 90 | Stocks & RWA▶ | 105 |
| 1h | Funding paid every | 4h or 8h |
| +0.0064% | BTC funding /8h | +0.0100% |
| +0.676% | 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 | $0.060.6 bp | $0.909.0 bp |
| $10k | $0.620.6 bp | $9.019.0 bp |
| $100k | $9.060.9 bp | $90.129.0 bp |
| $1M | $2752.8 bp | $1,17111.7 bp |
| $5M | $3,6617.3 bp | — |
BTC funding per day
pair pageSize
daily, last 90 daysVolume by asset class
last 90 daysOn both: 120
funding /8h · Net 7d at $10k| Asset | Lighter | GRVT | Spread | Net 7d |
|---|---|---|---|---|
| XAU | +0.0032% | 0.0000% | +0.0032% | −$14 |
| INTC | +0.0032% | 0.0000% | +0.0032% | +$2 |
| TSLA | +0.0032% | 0.0000% | +0.0032% | −$42 |
| HOOD | +0.0032% | 0.0000% | +0.0032% | −$7 |
| XAG | +0.0032% | 0.0000% | +0.0032% | −$50 |
| QQQ | +0.0032% | 0.0000% | +0.0032% | −$17 |
| XPD | +0.0032% | 0.0000% | +0.0032% | −$30 |
| XPT | +0.0032% | 0.0000% | +0.0032% | −$48 |
| SPY | +0.0032% | 0.0000% | +0.0032% | −$8 |
| EWY | +0.0032% | 0.0000% | +0.0032% | −$26 |
| STRC | 0.0000% | 0.0000% | 0.0000% | −$61 |
| COPPER | +0.0032% | 0.0000% | +0.0032% | −$44 |
| MSTR | +0.0152% | 0.0000% | +0.0152% | −$18 |
| SOXL | +0.0032% | +0.0074% | +0.0042% | −$31 |
| DRAM | +0.0032% | 0.0000% | +0.0032% | +$9 |
| CRCL | +0.0288% | 0.0000% | +0.0288% | +$15 |
| CL | +0.0032% | 0.0000% | +0.0032% | −$9 |
| NVDA | +0.0032% | 0.0000% | +0.0032% | −$10 |
| MU | +0.0032% | 0.0000% | +0.0032% | −$14 |
| BZ | +0.0168% | 0.0000% | +0.0168% | −$2 |
Only on Lighter: 88
ZRO · NAS100 · GRAM · SKHYNIXUSD · EUR · SAMSUNGUSD · VVV · SP500 · SPCX · AERO · PONS · USDCAD · ETHFI · GRASS · USDCHF · PEPE · USELESS · CASHCAT · SKY · STABLECOINX · USDKRW · STONK · US10Y · APT · AUD · NZDUSD · AI · USDJPY · BB · GBP · TRX · TIA · BONK · ANSEM · SYRUP · SHIB · PYTH · JTO · SPX · RAY · MNT · UNITREE · MET · CHIP · STABLE · ZHIPU · S · DYDX · 0G · GMX · FOLKS · CXMT · OURA · STBL · BOT · DASH · NMR · AZTEC · TENCENT · SKR · and 28 more
Only on GRVT: 64
H · KPEPE · ATOM · EWJ · ZEN · CFX · KSHIB · KAIA · MOODENG · GRVT · KBONK · GIGGLE · SAHARA · W · BARD · SKHYNIX · PAYP · BASED · LA · SAMSUNG · FLNC · SPACEX · XLE · V · UVXY · BRKB · IREN · TQQQ · JPM · EWT · UBER · ONDS · LLY · CRWD · COHR · BBX · USAR · SQQQ · XAUT · KSTR · NFLX · DIS · SMCI · CRDO · HD · BX · NAVER · URNM · HYUNDAI · AMAT · QNTX · GS · EWZ · WMT · ASTS · CRM · STXX · LGELECTRONICS · NVO · SAMSUNGEM · and 4 more
Questions
Is Lighter or GRVT cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $0.62 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: 7 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 CRCL, long on GRVT and short on Lighter, with $15 left after costs.
Which is bigger, Lighter or GRVT?
24-hour volume: Lighter $552.4M, GRVT $398.2M. Open interest as each reports it: $591.0M and $474.8M. TVL: $663.6M and $34.2M.