BULKvs
Lighter
Funding rates, fees, liquidity and airdrop status compared for perpetual-futures traders.
| BULK | Lighter | |
|---|---|---|
| Type | DEX | DEX |
| Taker fee | 0.035% | 0%✓ |
| Maker fee | 0% | 0% |
| Open Interest | $2.6M | $481.1M✓ |
| 24h Volume | $51.7M | $1.61B✓ |
| Avg Funding APR | 10.96% | 9.54% |
| Markets | 5 | 50✓ |
| Airdrop / token | Pre-TGE | Listed |
BULK and Lighter are both perpetual-futures venues tracked on ORBIT. On fees, Lighter is cheaper (0% vs 0.035% taker). On liquidity, Lighter is deeper with $481.1M open interest, which means less slippage at size.
For a funding-arbitrage trader the practical answer is rarely “one or the other” — you often use both, going long on whichever venue has the lower funding for a given asset and short on the other. Open the Funding Screener to see where BULK and Lighter diverge right now, then verify the pair in the backtester.
Frequently asked questions
- Is BULK or Lighter cheaper?
- BULK charges 0.035% taker / 0% maker; Lighter charges 0% taker / 0% maker. Lighter has the lower taker fee, which matters most for funding arbitrage since entries and exits are taker orders.
- Which has deeper liquidity, BULK or Lighter?
- BULK has $2.6M open interest across 5 markets; Lighter has $481.1M across 50. Lighter is deeper, which means lower slippage at size.
- Can I run funding arbitrage between BULK and Lighter?
- Yes — when an asset's funding diverges between the two, go long on the lower-funding venue and short on the higher one. Find live divergences on the ORBIT screener and backtest the exact pair before sizing it.