Lighter vs TxFlow
Lighter traded 9.9× TxFlow's 24-hour volume ($1.21B vs $121.4M) and holds 12× its open interest.
Head to head
the arrow points to the better figure| Lighter | TxFlow | |
|---|---|---|
| Trading | ||
| $0.61 | ◀BTC trade, $10k | $9.04 |
| $239 | ◀BTC trade, $1M | $977 |
| $16.7M | BTC book depth▶ | $1.07B |
| 0.000%/0.000% | ◀Taker / maker | 0.045%/0.015% |
| 50x | Max leverage▶ | 75x |
| Size | ||
| $1.21B | ◀Volume 24h | $121.4M |
| $1.37B | ◀Volume, 7-day average | $126.1M |
| $603.6M | ◀Open interest | $52.0M |
| $655.5M | TVL | — |
| Markets | ||
| 196 | Markets▶ | 223 |
| 90 | Stocks & RWA≈ | 94 |
| 1h | Funding paid every | 1h |
| −0.0048% | BTC funding /8h | −0.0023% |
| +0.677% | BTC longs paid, 30d | — |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | none yet |
| Season 3 | Airdrop | Active |
Cost to trade ETH
| Size | Lighter | TxFlow |
|---|---|---|
| $1k | $0.060.6 bp | $0.909.0 bp |
| $10k | $0.850.8 bp | $9.049.0 bp |
| $100k | $15.911.6 bp | $90.369.0 bp |
| $1M | $2532.5 bp | $1,09310.9 bp |
| $5M | $3,8637.7 bp | $7,24114.5 bp |
BTC funding per day
pair pageSize
daily, last 90 daysVolume by asset class
last 90 daysOn both: 127
funding /8h · Net 7d at $10k| Asset | Lighter | TxFlow | Spread | Net 7d |
|---|---|---|---|---|
| BTC | −0.0048% | −0.0023% | +0.0025% | — |
| ETH | +0.0016% | +0.0010% | +0.0006% | — |
| ZEC | +0.0096% | +0.0100% | +0.0004% | — |
| HYPE | +0.0096% | +0.0100% | +0.0004% | — |
| SOL | +0.0096% | −0.0046% | +0.0142% | — |
| NEAR | +0.0200% | −0.0059% | +0.0259% | — |
| PUMP | +0.0096% | −0.0092% | +0.0188% | — |
| LTC | +0.0096% | −0.0129% | +0.0225% | — |
| XRP | +0.0096% | +0.0100% | +0.0004% | — |
| LIT | +0.0016% | +0.0100% | +0.0084% | — |
| ONDO | +0.0096% | +0.0004% | +0.0092% | — |
| AVAX | +0.0096% | +0.0100% | +0.0004% | — |
| TAO | +0.0096% | +0.0100% | +0.0004% | — |
| AAVE | +0.0096% | +0.0100% | +0.0004% | — |
| ETHFI | +0.0160% | +0.0100% | +0.0060% | — |
| DOGE | +0.0096% | +0.0100% | +0.0004% | — |
| STRK | +0.0720% | +0.0100% | +0.0620% | — |
| ASTER | +0.0096% | −0.0281% | +0.0377% | — |
| CC | +0.0096% | +0.0074% | +0.0022% | — |
| BNB | +0.0096% | +0.0100% | +0.0004% | — |
Only on Lighter: 81
SP500 · NAS100 · SKHYNIXUSD · EUR · SAMSUNGUSD · PAXG · USDCAD · USDCHF · SKHY · STRC · STABLECOINX · USDKRW · US10Y · MEGA · AUD · ORCL · NZDUSD · AI · BB · BABA · GBP · ANSEM · BMNR · SPX · SYRUP · RIVER · PYTH · UNITREE · CHIP · ZK · STABLE · POPCAT · S · 0G · FOLKS · CXMT · STBL · NMR · AZTEC · BOT · TENCENT · FF · BERA · CAP · AVNT · 2Z · FLOKI · DATA · DELL · IWM · ASML · APEX · EDGE · SMIC · PROVE · HYUNDAIUSD · TTWO · ZORA · ARC · XIAOMI · and 21 more
Only on TxFlow: 96
XAUT · FET · COMP · INJ · PLUME · BAT · MINA · SKHYNIX · IMX · ETC · ZAMA · TQQQ · UVXY · RENDER · LUNA2 · ATOM · CAKE · KITE · COTI · EWJ · JASMY · SNOW · KLAC · BAND · MANTA · GAS · ALICE · CELO · IONQ · MOONSHOT · CELR · CT · HOT · MANA · RDDT · KAS · 1INCH · NIGHT · CYBER · CETUS · SQQQ · DKNG · SMCI · IREN · API3 · TLT · URNM · FLOW · AR · ARKM · GRT · CYPH · ADBE · BX · CRDO · AXL · SAMSUNG · APP · NIL · NEO · and 36 more
Questions
Is Lighter or TxFlow cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $0.61 on Lighter and $9.04 on TxFlow 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 TxFlow?
Lighter lists 196 active markets and TxFlow 223; 127 assets trade on both, 49 of them stocks, commodities or other real-world assets.
Does Lighter or TxFlow 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. TxFlow: No ID: an email login or an EVM wallet, plus an access or referral code; not for the US, China, Singapore, Canada, the UK or sanctioned countries.
Can you arbitrage funding between Lighter and TxFlow?
Not profitably right now: none of the 127 assets on both paid more in funding over the last 7 days than a round trip on both costs.
Which is bigger, Lighter or TxFlow?
24-hour volume: Lighter $1.21B, TxFlow $121.4M. Open interest as each reports it: $603.6M and $52.0M. TVL: $655.5M and none published.