Head to head
the arrow points to the better figure| Lighter | StandX | |
|---|---|---|
| Trading | ||
| $0.71 | ◀BTC trade, $10k | $13.29 |
| $259 | ◀BTC trade, $1M | $1,551 |
| $14.0M | ◀BTC book depth | $7.8M |
| 0.000%/0.000% | ◀Taker / maker | 0.040%/0.010% |
| 50x | ◀Max leverage | 40x |
| Size | ||
| $515.8M | ◀Volume 24h | $380.4M |
| $1.39B | ◀Volume, 7-day average | $380.2M |
| $592.2Mone 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% |
| +0.680% | BTC longs paid, 30d | +0.743% |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | none yet |
| Season 3 | Airdrop | Active |
Cost to trade ETH
| Size | Lighter | StandX |
|---|---|---|
| $1k | $0.030.3 bp | $1.0710.7 bp |
| $10k | $0.630.6 bp | $11.2811.3 bp |
| $100k | $16.161.6 bp | $13513.5 bp |
| $1M | $2432.4 bp | $2,24422.4 bp |
| $5M | $3,2436.5 bp | — |
BTC funding per day
pair pageSize
daily, last 30 daysVolume by asset class
last 30 daysOn both: 13
funding /8h · Net 7d at $10k| Asset | Lighter | StandX | Spread | Net 7d |
|---|---|---|---|---|
| BTC | +0.0096% | +0.0100% | +0.0004% | −$3 |
| ETH | +0.0096% | +0.0100% | +0.0004% | −$9 |
| SOL | +0.0096% | +0.0100% | +0.0004% | −$4 |
| BNB | +0.0096% | 0.0000% | +0.0096% | −$12 |
| HYPE | +0.0096% | +0.0100% | +0.0004% | −$14 |
| UNI | +0.0096% | +0.0100% | +0.0004% | −$47 |
| ZEC | +0.0400% | +0.0100% | +0.0300% | −$13 |
Only on Lighter: 195
LIT · NEAR · WLD · CRCL · ZRO · QQQ · XPL · ENA · NAS100 · AAVE · SPY · SNDK · BZ · PUMP · MSTR · GRAM · NVDA · SKHYNIXUSD · HOOD · XMR · GOOGL · ADA · META · NATGAS · EUR · XRP · LINK · SAMSUNGUSD · ANTHROPIC · VVV · SP500 · AERO · PAXG · PONS · ETHFI · USDCAD · OPENAI · AAPL · INTC · GRASS · USDCHF · MSFT · AVAX · SKHY · LDO · PEPE · SUI · LTC · ONDO · AMD · DRAM · USELESS · SOXL · WLFI · CASHCAT · ARB · SKY · STRC · TAO · ASTER · 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 $0.71 on Lighter and $13.29 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 $515.8M, StandX $380.4M. Open interest as each reports it: $592.2M 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.