Lighter vs TxFlow
Lighter traded 10× TxFlow's 24-hour volume ($1.27B vs $125.5M) and holds 12× its open interest.
Head to head
the arrow points to the better figure| Lighter | TxFlow | |
|---|---|---|
| Trading | ||
| $0.65 | ◀BTC trade, $10k | $9.01 |
| $215 | ◀BTC trade, $1M | $942 |
| $16.2M | BTC book depth▶ | $1.29B |
| 0.000%/0.000% | ◀Taker / maker | 0.045%/0.015% |
| 50x | Max leverage▶ | 75x |
| Size | ||
| $1.27B | ◀Volume 24h | $125.5M |
| $1.37B | ◀Volume, 7-day average | $126.1M |
| $609.9M | ◀Open interest | $52.3M |
| $655.5M | TVL | — |
| Markets | ||
| 196 | Markets▶ | 223 |
| 90 | Stocks & RWA≈ | 94 |
| 1h | Funding paid every | 1h |
| −0.0016% | BTC funding /8h | −0.0015% |
| +0.674% | BTC longs paid, 30d | — |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | none yet |
| Season 3 | Airdrop | Active |
Cost to trade SOL
| Size | Lighter | TxFlow |
|---|---|---|
| $1k | $0.111.1 bp | $0.989.8 bp |
| $10k | $1.151.2 bp | $9.839.8 bp |
| $100k | $25.262.5 bp | $10310.3 bp |
| $1M | $1,06010.6 bp | $1,38213.8 bp |
| $5M | $19,96339.9 bp | $17,58535.2 bp |
ZEC 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 |
|---|---|---|---|---|
| XAU | +0.0160% | +0.0052% | +0.0108% | — |
| SPY | +0.0032% | +0.0100% | +0.0068% | — |
| QQQ | +0.0032% | +0.0100% | +0.0068% | — |
| NVDA | +0.0032% | +0.0100% | +0.0068% | — |
| XAG | +0.0096% | +0.0100% | +0.0004% | — |
| CL | −0.0032% | +0.0100% | +0.0132% | — |
| BZ | −0.0080% | −0.0081% | +0.0001% | — |
| SNDK | +0.0032% | +0.0140% | +0.0108% | — |
| COIN | +0.0032% | +0.0100% | +0.0068% | — |
| MU | +0.0032% | +0.0182% | +0.0150% | — |
| USDJPY | 0.0000% | −0.0718% | +0.0718% | — |
| SPCX | −0.0088% | +0.0100% | +0.0188% | — |
| SOXL | +0.0032% | +0.0100% | +0.0068% | — |
| TSLA | +0.0032% | +0.0100% | +0.0068% | — |
| GOOGL | +0.0032% | +0.0100% | +0.0068% | — |
| XPD | +0.0360% | +0.0287% | +0.0073% | — |
| INTC | +0.0032% | +0.0100% | +0.0068% | — |
| OPENAI | 0.0000% | +0.0100% | +0.0100% | — |
| AAPL | +0.0032% | +0.0100% | +0.0068% | — |
| DRAM | +0.0032% | +0.0100% | +0.0068% | — |
Only on Lighter: 81
SP500 · NAS100 · SKHYNIXUSD · EUR · SAMSUNGUSD · PAXG · USDCAD · USDCHF · SKHY · STABLECOINX · STRC · 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 · 2Z · CAP · AVNT · FLOKI · DATA · DELL · IWM · APEX · ASML · SMIC · EDGE · PROVE · HYUNDAIUSD · ZORA · ARC · XIAOMI · SKR · and 21 more
Only on TxFlow: 96
XAUT · FET · COMP · INJ · PLUME · BAT · MINA · IMX · SKHYNIX · ETC · ZAMA · RENDER · LUNA2 · ATOM · TQQQ · CAKE · KITE · EWJ · COTI · IONQ · UVXY · JASMY · BAND · MANTA · GAS · SNOW · IREN · CELO · ALICE · NIGHT · SQQQ · HOT · CELR · MOONSHOT · KLAC · MANA · KAS · 1INCH · CETUS · SMCI · CYBER · CT · FLOW · TLT · DKNG · URNM · API3 · NIL · LRCX · RDDT · ARKM · SAMSUNG · AR · ADBE · CYPH · CRDO · AXL · APP · QNTX · NEO · and 36 more
Questions
Is Lighter or TxFlow cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $0.65 on Lighter and $9.01 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 $1.27B, TxFlow $125.5M. Open interest as each reports it: $609.9M and $52.3M. TVL: $655.5M and none published.