Head to head
the arrow points to the better figure| Lighter | StandX | |
|---|---|---|
| Trading | ||
| $0.85 | ◀BTC trade, $10k | $12.83 |
| $285 | ◀BTC trade, $1M | $1,575 |
| $12.9M | ◀BTC book depth | $7.5M |
| 0.000%/0.000% | ◀Taker / maker | 0.040%/0.010% |
| 50x | ◀Max leverage | 40x |
| Size | ||
| $518.3M | ◀Volume 24h | $366.2M |
| $1.39B | ◀Volume, 7-day average | $380.2M |
| $591.7Mone side | Open interest | $43.8Mlongs + shorts |
| $663.6M | ◀TVL | $26.2M |
| Markets | ||
| 196 | ◀Markets | 13 |
| 90 | ◀Stocks & RWA | 6 |
| 1h | Funding paid every | 1h |
| +0.0096% | BTC funding /8h | +0.0100% |
| +0.678% | BTC longs paid, 30d | +0.741% |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | none yet |
| Season 3 | Airdrop | Active |
Cost to trade BTC
| Size | Lighter | StandX |
|---|---|---|
| $1k | $0.050.5 bp | $1.2712.8 bp |
| $10k | $0.850.8 bp | $12.8312.8 bp |
| $100k | $14.951.5 bp | $14014.0 bp |
| $1M | $2852.9 bp | $1,57515.8 bp |
| $5M | $3,6137.2 bp | $9,33718.7 bp |
BTC funding per day
pair pageSize
daily, last 90 daysVolume by asset class
last 90 daysOn both: 13
funding /8h · Net 7d at $10k| Asset | Lighter | StandX | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0096% | +0.0100% | +0.0004% | −$3 |
| ETH | +0.0072% | +0.0100% | +0.0028% | −$10 |
| SOL | +0.0096% | +0.0100% | +0.0004% | −$5 |
| HYPE | +0.0096% | +0.0100% | +0.0004% | −$15 |
| BNB | +0.0096% | 0.0000% | +0.0096% | −$12 |
| UNI | +0.0096% | +0.0100% | +0.0004% | −$45 |
| ZEC | +0.0464% | +0.0100% | +0.0364% | −$10 |
Only on Lighter: 195
LIT · NEAR · WLD · ZRO · CRCL · QQQ · XPL · ENA · NAS100 · AAVE · SPY · SNDK · BZ · MSTR · PUMP · GRAM · NVDA · SKHYNIXUSD · HOOD · XMR · GOOGL · ADA · META · NATGAS · EUR · XRP · LINK · SAMSUNGUSD · VVV · ANTHROPIC · SP500 · AERO · PAXG · PONS · USDCAD · OPENAI · ETHFI · INTC · AAPL · GRASS · USDCHF · MSFT · AVAX · SKHY · PEPE · AMD · LDO · LTC · SUI · ONDO · DRAM · USELESS · SOXL · CASHCAT · WLFI · ARB · SKY · STRC · ASTER · AMZN · and 135 more
Only on StandX: 0
Questions
Is Lighter or StandX cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $0.85 on Lighter and $12.83 on StandX right now, taker fee and order-book slippage together, so Lighter is cheaper. Taker fees: 0% and 0.04%. 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 StandX?
Lighter lists 196 active markets and StandX 13; 13 assets trade on both, 6 of them stocks, commodities or other real-world assets.
Does Lighter or StandX 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. StandX: No ID to trade (KYC only to mint or redeem DUSD directly); not for the US, the UK, Russia or sanctioned countries.
Can you arbitrage funding between Lighter and StandX?
Not profitably right now: none of the 13 assets on both paid more in funding over the last 7 days than a round trip on both costs.
Which is bigger, Lighter or StandX?
24-hour volume: Lighter $518.3M, StandX $366.2M. Open interest as each reports it: $591.7M and $43.8M. StandX reports open interest as longs plus shorts, both sides of every position; Lighter reports one side. For the same positions StandX's figure reads about twice as large. TVL: $663.6M and $26.2M.