Lighter vs Hibachi
Lighter traded 99× Hibachi's 24-hour volume ($2.72B vs $27.4M) and holds 388× its open interest.
Head to head
the arrow points to the better figure| Lighter | Hibachi | |
|---|---|---|
| Trading | ||
| $1.25 | ◀BTC trade, $10k | $12.24 |
| $413 | ◀BTC trade, $1M | $14,587 |
| $15.1M | ◀BTC book depth | $1.1M |
| 0.000%/0.000% | ◀Taker / maker | 0.045%/0.000% |
| 50x | ◀Max leverage | 30x |
| Size | ||
| $2.72B | ◀Volume 24h | $27.4M |
| $2.15B | ◀Volume, 7-day average | $16.2M |
| $517.8M | ◀Open interest | $1.3M |
| $579.7M | ◀TVL | $3.3M |
| Markets | ||
| 201 | ◀Markets | 15 |
| 96 | ◀Stocks & RWA | 7 |
| 1h | Funding paid every | 1h |
| +0.0096% | BTC funding /8h | +0.0264% |
| +0.682% | BTC longs paid, 30d | +1.672% |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | none yet |
| Season 3 | Airdrop | Active |
Cost to trade BTC
| Size | Lighter | Hibachi |
|---|---|---|
| $1k | $0.000.0 bp | $1.2212.2 bp |
| $10k | $1.251.2 bp | $12.2412.2 bp |
| $100k | $17.771.8 bp | $14514.5 bp |
| $1M | $4134.1 bp | $14,587145.9 bp |
| $5M | $5,20310.4 bp | — |
BTC funding per day
pair pageVolume by asset class
last 90 daysOn both: 13
funding /8h · Net 7d at $10k| Asset | Lighter | Hibachi | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0096% | +0.0264% | +0.0168% | −$15 |
| HYPE | +0.0096% | +0.0728% | +0.0632% | −$68 |
| BNB | +0.0096% | +0.0576% | +0.0480% | +$39 |
| ETH | +0.0096% | −0.0192% | +0.0288% | −$34 |
| PAXG | +0.0096% | +0.0248% | +0.0152% | −$17 |
| SOL | +0.0096% | −0.0216% | +0.0312% | — |
| XRP | +0.0096% | +0.0032% | — | — |
| SUI | +0.0064% | +0.0392% | — | — |
Only on Lighter: 198
LIT · ZEC · XAU · QQQ · AAPL · SKHYNIX · NEAR · GOOGL · ZRO · AAVE · SPY · MU · NVDA · CL · XMR · NAS100 · SNDK · WLD · CRCL · SOXL · META · PUMP · ANTHROPIC · AMD · ENA · NATGAS · TSLA · MSFT · BZ · INTC · AMZN · MSTR · SPCX · SAMSUNG · ADA · LINK · SP500 · XPL · OPENAI · VVV · GRAM · SKHY · USDKRW · UNITREE · UNI · STRC · WLFI · LTC · AERO · AVAX · DRAM · USDJPY · COIN · GRASS · BMNR · HOOD · LDO · ASTER · DOGE · USELESS · and 138 more
Questions
Is Lighter or Hibachi cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $1.25 on Lighter and $12.24 on Hibachi 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 Hibachi?
Lighter lists 201 active markets and Hibachi 15; 13 assets trade on both, 5 of them stocks, commodities or other real-world assets.
Does Lighter or Hibachi 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. Hibachi: No ID; not for the US, the UK or sanctioned countries.
Can you arbitrage funding between Lighter and Hibachi?
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 BNB, long on Lighter and short on Hibachi, with $39 left after costs.
Which is bigger, Lighter or Hibachi?
24-hour volume: Lighter $2.72B, Hibachi $27.4M. Open interest as each reports it: $517.8M and $1.3M. TVL: $579.7M and $3.3M.