Lighter vs TxFlow
Lighter traded 10× TxFlow's 24-hour volume ($1.21B vs $121.0M) and holds 12× its open interest.
Head to head
the arrow points to the better figure| Lighter | TxFlow | |
|---|---|---|
| Trading | ||
| $0.52 | ◀BTC trade, $10k | $9.01 |
| $194 | ◀BTC trade, $1M | $936 |
| $14.0M | BTC book depth▶ | $1.17B |
| 0.000%/0.000% | ◀Taker / maker | 0.045%/0.015% |
| 50x | Max leverage▶ | 75x |
| Size | ||
| $1.21B | ◀Volume 24h | $121.0M |
| $1.37B | ◀Volume, 7-day average | $126.1M |
| $604.7M | ◀Open interest | $52.0M |
| $655.5M | TVL | — |
| Markets | ||
| 196 | Markets▶ | 223 |
| 90 | Stocks & RWA≈ | 94 |
| 1h | Funding paid every | 1h |
| −0.0032% | BTC funding /8h | −0.0008% |
| +0.676% | BTC longs paid, 30d | — |
| Access | ||
| No ID | KYC | No ID |
| $LIT | Token | none yet |
| Season 3 | Airdrop | Active |
Cost to trade BTC
| Size | Lighter | TxFlow |
|---|---|---|
| $1k | $0.050.5 bp | $0.909.0 bp |
| $10k | $0.520.5 bp | $9.019.0 bp |
| $100k | $6.720.7 bp | $90.129.0 bp |
| $1M | $1941.9 bp | $9369.4 bp |
| $5M | $2,9115.8 bp | $6,14412.3 bp |
ETH funding per day
pair pageSize
daily, last 30 daysVolume by asset class
last 30 daysOn both: 127
funding /8h · Net 7d at $10k| Asset | Lighter | TxFlow | Spread | Net 7d |
|---|---|---|---|---|
| BTC | −0.0032% | −0.0008% | +0.0024% | — |
| ETH | 0.0000% | +0.0062% | +0.0062% | — |
| ZEC | +0.0096% | +0.0100% | +0.0004% | — |
| HYPE | +0.0096% | +0.0100% | +0.0004% | — |
| NEAR | +0.0096% | −0.0092% | +0.0188% | — |
| PUMP | +0.0096% | −0.0127% | +0.0223% | — |
| SOL | +0.0096% | +0.0009% | +0.0087% | — |
| LTC | +0.0096% | −0.0111% | +0.0207% | — |
| XRP | +0.0096% | +0.0100% | +0.0004% | — |
| LIT | −0.0096% | +0.0100% | +0.0196% | — |
| ONDO | +0.0096% | +0.0053% | +0.0043% | — |
| AVAX | +0.0096% | +0.0093% | +0.0003% | — |
| ETHFI | +0.0096% | +0.0014% | +0.0082% | — |
| DOGE | +0.0096% | +0.0100% | +0.0004% | — |
| TAO | +0.0096% | +0.0060% | +0.0036% | — |
| STRK | +0.0096% | +0.0060% | +0.0036% | — |
| AAVE | +0.0096% | +0.0100% | +0.0004% | — |
| ENA | +0.0744% | +0.0079% | +0.0665% | — |
| ASTER | +0.0096% | −0.0234% | +0.0330% | — |
| CC | +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 · FLOKI · 2Z · DATA · DELL · IWM · APEX · ASML · SMIC · EDGE · PROVE · HYUNDAIUSD · TTWO · ZORA · ARC · XIAOMI · and 21 more
Only on TxFlow: 96
XAUT · FET · COMP · INJ · BAT · PLUME · MINA · IMX · SKHYNIX · ZAMA · TQQQ · ETC · UVXY · RENDER · LUNA2 · ATOM · KITE · CAKE · COTI · EWJ · JASMY · SNOW · BAND · KLAC · MANTA · GAS · ALICE · CELO · MANA · MOONSHOT · CELR · IONQ · HOT · RDDT · CT · NIGHT · 1INCH · CYBER · IREN · SMCI · CETUS · KAS · FLOW · SQQQ · DKNG · API3 · NIL · TLT · URNM · AR · ARKM · CRDO · ADBE · BX · CYPH · SAMSUNG · AXL · NEO · LRCX · APP · and 36 more
Questions
Is Lighter or TxFlow cheaper to trade?
Opening and closing $10,000 of BTC with market orders costs $0.52 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 $1.21B, TxFlow $121.0M. Open interest as each reports it: $604.7M and $52.0M. TVL: $655.5M and none published.