Lighter vs Popdex
Lighter traded 8.0× Popdex's 24-hour volume ($2.68B vs $336.4M) and holds 5.5× its open interest.
Head to head
the arrow points to the better figure| Lighter | Popdex | |
|---|---|---|
| Trading | ||
| $1.18 | ◀BTC trade, $10k | $8.34 |
| $277 | ◀BTC trade, $1M | $945 |
| $14.8M | ◀BTC book depth | $12.3M |
| 0.000%/0.000% | ◀Taker / maker | 0.032%/0.010% |
| 50x | Max leverage▶ | 100x |
| Size | ||
| $2.68B | ◀Volume 24h | $336.4M |
| $2.15B | ◀Volume, 7-day average | $198.6M |
| $509.5M | ◀Open interest | $92.7M |
| $579.7M | ◀TVL | $76.6M |
| Markets | ||
| 201 | ◀Markets | 66 |
| 96 | ◀Stocks & RWA | 35 |
| 1h | Funding paid every | 1h |
| +0.0096% | BTC funding /8h | +0.0100% |
| +0.682% | BTC longs paid, 30d | +0.775% |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | none yet |
| Season 3 | Airdrop | — |
Cost to trade BTC
| Size | Lighter | Popdex |
|---|---|---|
| $1k | $0.101.0 bp | $0.747.4 bp |
| $10k | $1.181.2 bp | $8.348.3 bp |
| $100k | $15.611.6 bp | $84.888.5 bp |
| $1M | $2772.8 bp | $9459.4 bp |
| $5M | $4,3438.7 bp | $7,77815.6 bp |
BTC funding per day
pair pageVolume by asset class
last 90 daysOn both: 60
funding /8h · Net 7d at $10k| Asset | Lighter | Popdex | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0096% | +0.0100% | +0.0004% | −$9 |
| ETH | +0.0096% | +0.0100% | +0.0004% | −$13 |
| ENA | −0.0096% | +0.0100% | +0.0196% | −$83 |
| SOL | +0.0096% | +0.0082% | +0.0014% | −$15 |
| ZEC | +0.0128% | +0.0271% | +0.0143% | −$16 |
| HYPE | +0.0096% | +0.0100% | +0.0004% | −$10 |
| PEPE | +0.0096% | +0.0100% | +0.0004% | −$30 |
| XRP | +0.0096% | +0.0100% | +0.0004% | −$18 |
| LINK | +0.0096% | +0.0100% | +0.0004% | −$16 |
| NEAR | 0.0000% | +0.0100% | +0.0100% | −$24 |
| BNB | +0.0096% | +0.0100% | +0.0004% | +$3 |
| DOGE | +0.0096% | +0.0100% | +0.0004% | −$19 |
| AAVE | +0.0096% | +0.0100% | +0.0004% | −$25 |
| SUI | 0.0000% | +0.0100% | +0.0100% | −$37 |
| LTC | +0.0096% | +0.0100% | +0.0004% | −$35 |
| ADA | +0.0080% | +0.0100% | +0.0020% | −$42 |
| XLM | +0.0072% | +0.0100% | +0.0028% | −$56 |
| GRAM | −0.0600% | +0.0100% | +0.0700% | −$113 |
| APT | −0.0152% | +0.0100% | +0.0252% | −$101 |
| TRUMP | +0.0080% | +0.0100% | +0.0020% | −$67 |
Only on Lighter: 151
LIT · AAPL · ZRO · SPY · XMR · ANTHROPIC · AMD · EUR · NATGAS · MSFT · AMZN · PAXG · OPENAI · XPL · VVV · USDKRW · UNI · STRC · WLFI · AERO · USDJPY · GRASS · BMNR · LDO · ASTER · USELESS · ARB · LITE · NBIS · PLTR · ETHFI · BCH · USDCHF · SKY · MON · US10Y · XPD · BABA · CRV · MRVL · POL · JUP · XPT · EIGEN · TRX · CC · STABLECOINX · VIRTUAL · MORPHO · PENDLE · DRV · HBAR · FARTCOIN · COPPER · DELL · MEGA · CAP · STONK · STRK · SPX · and 91 more
Questions
Is Lighter or Popdex cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $1.18 on Lighter and $8.34 on Popdex right now, taker fee and order-book slippage together, so Lighter is cheaper. Taker fees: 0% and 0.032%. 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 Popdex?
Lighter lists 201 active markets and Popdex 66; 60 assets trade on both, 31 of them stocks, commodities or other real-world assets.
Does Lighter or Popdex 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. Popdex: No ID; barred countries include the US, UK, Canada, France, Germany, Austria, Singapore, Hong Kong and China.
Can you arbitrage funding between Lighter and Popdex?
Yes: 3 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 SKHYNIX, long on Popdex and short on Lighter, with $126 left after costs.
Which is bigger, Lighter or Popdex?
24-hour volume: Lighter $2.68B, Popdex $336.4M. Open interest as each reports it: $509.5M and $92.7M. TVL: $579.7M and $76.6M.