Lighter vs Katana Perps
Lighter traded 35× Katana Perps's 24-hour volume ($2.72B vs $76.7M) and holds 1113× its open interest.
Head to head
the arrow points to the better figure| Lighter | Katana Perps | |
|---|---|---|
| Trading | ||
| $1.25 | BTC trade, $10k | — |
| $413 | BTC trade, $1M | — |
| $15.1M | BTC book depth | — |
| 0.000%/0.000% | ◀Taker / maker | 0.019%/0.005% |
| 50x | Max leverage≈ | 50x |
| Size | ||
| $2.72B | ◀Volume 24h | $76.7M |
| $2.15B | ◀Volume, 7-day average | $44.0M |
| $517.8M | ◀Open interest | $465K |
| $579.7M | ◀TVL | $1.3M |
| Markets | ||
| 201 | ◀Markets | 10 |
| 96 | ◀Stocks & RWA | 0 |
| 1h | Funding paid every | 8h |
| +0.0096% | BTC funding /8h | +0.0111% |
| +0.682% | BTC longs paid, 30d | +0.897% |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | none yet |
| Season 3 | Airdrop | — |
Cost to trade BTC
| Size | Lighter | Katana Perps |
|---|---|---|
| $1k | $0.000.0 bp | — |
| $10k | $1.251.2 bp | — |
| $100k | $17.771.8 bp | — |
| $1M | $4134.1 bp | — |
| $5M | $5,20310.4 bp | — |
BTC funding per day
pair pageVolume by asset class
last 90 daysOn both: 9
funding /8h · Net 7d at $10k| Asset | Lighter | Katana Perps | Spread | Net 7d |
|---|---|---|---|---|
| ETH | +0.0096% | +0.0100% | +0.0004% | — |
| BTC | +0.0096% | +0.0111% | +0.0015% | — |
| XRP | +0.0096% | +0.0100% | +0.0004% | — |
| SOL | +0.0096% | +0.0100% | +0.0004% | — |
| HYPE | +0.0096% | +0.0100% | +0.0004% | — |
| ZEC | +0.0192% | +0.0100% | +0.0092% | — |
| TAO | +0.0024% | +0.0091% | +0.0067% | — |
| DOGE | +0.0096% | +0.0100% | — | — |
| PUMP | +0.0096% | +0.0083% | — | — |
Only on Lighter: 202
LIT · XAU · QQQ · AAPL · SKHYNIX · NEAR · GOOGL · ZRO · BNB · AAVE · SPY · MU · NVDA · XAG · CL · XMR · NAS100 · SNDK · WLD · CRCL · SOXL · META · ANTHROPIC · AMD · EUR · ENA · NATGAS · TSLA · MSFT · BZ · INTC · AMZN · MSTR · SPCX · SAMSUNG · PAXG · ADA · LINK · SP500 · XPL · OPENAI · VVV · GRAM · SKHY · USDKRW · UNITREE · UNI · STRC · SUI · WLFI · LTC · AERO · AVAX · DRAM · USDJPY · COIN · GRASS · BMNR · HOOD · LDO · and 142 more
Only on Katana Perps: 1
Questions
Which has more markets, Lighter or Katana Perps?
Lighter lists 201 active markets and Katana Perps 10; 9 assets trade on both.
Does Lighter or Katana Perps 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. Katana Perps: No ID, your wallet is the account; not for the US, Panama or sanctioned countries.
Can you arbitrage funding between Lighter and Katana Perps?
Not profitably right now: none of the 9 assets on both paid more in funding over the last 7 days than a round trip on both costs.
Which is bigger, Lighter or Katana Perps?
24-hour volume: Lighter $2.72B, Katana Perps $76.7M. Open interest as each reports it: $517.8M and $465K. TVL: $579.7M and $1.3M.