Coinbase International vs Lighter 2026: 2 live benchmarks compared

Name: Coinbase International vs Lighter OpenChainBench measurements
Creator: OpenChainBench
License: https://creativecommons.org/licenses/by/4.0/

OpenChainBench

Coinbase International vs Lighter

Split decision: Coinbase International leads on Funding paid to hold an ETH perp long for 30 days, per venue, live (40.2 bps vs 63.7 bps); Lighter leads on Perp DEX funding stability, 24h stddev of ETH funding ranked (0.00000% vs 0.0044%). Data as of 2026-09-24 UTC.

Read methodology Last measured Thu, 24 Sep 2026 00:14:31 UTCWindow: rolling 24h2 shared benchmarks

Coinbase International

Coinbase International Exchange, the non-US derivatives venue of Coinbase (Bermuda, BMA-licensed), with perpetual futures for institutional and eligible retail clients outside the United States. On OpenChainBench as a reference row: volume, open interest and market count as reported to CoinGecko, funding from the Mobula feed.

Lighter

Onchain perp DEX with a fully onchain orderbook on a zkSync rollup. ZK proofs verify matching, no off-chain sequencer for trade execution.

Side by side measurements

Perp DEX funding stability, 24h stddev of ETH funding ranked

Trading

Coinbase International

Trails

0.0044 %

p99: 0.0060%
rank: #4
samples: 2,876

Lighter

Leads

0.00000 %

p99: 0.0012%
rank: #1
samples: 2,876

24h ETH funding stddev

Coinbase Internationaln/aLightern/a

Ranked only with 24 hours of funding history (288 samples) and a stddev above zero: a young listing, or a venue whose rate has not moved since listing (Ondo Perps at launch, Polymarket in July), reads artificially stable and shows as Provisional, never as the leader. Stability is not directionality: a persistently positive but tight band ranks above a rate that flips every settlement.

Funding paid to hold an ETH perp long for 30 days, per venue, live

Trading

Coinbase International

Leads

40.2 bps

p99: 19.9 bps
rank: #6
samples: 656

Lighter

Trails

63.7 bps

p99: 43.8 bps
rank: #8
samples: 656

Funding paid, 30d ETH long

Coinbase Internationaln/aLightern/a

Every row is a month of funding at the venue's average daily cost over the hours measured in the trailing 30 days (average x 30). A venue ranks only with 576 of the 720 hours (24 days) behind that average; under the floor the row is provisional, unranked, and shows its day count (the venues added on 2026-09-22 and 2026-09-23 start there). Funding is signed: on a month where shorts paid longs the figure is negative and "cheapest" means "was paid the most".

Frequently asked questions

Coinbase International vs Lighter: which one is better?

Coinbase International and Lighter are compared on 2 shared OpenChainBench benchmarks. Coinbase International leads on Funding paid to hold an ETH perp long for 30 days, per venue, live. Lighter leads on Perp DEX funding stability, 24h stddev of ETH funding ranked. See the live table on this page for every metric.

Which is cheaper on funding paid, 30d eth long, Coinbase International or Lighter?

On the Funding paid to hold an ETH perp long for 30 days, per venue, live benchmark, Coinbase International leads at 40.2 bps versus Lighter at 63.7 bps. Live measurement is updated continuously by the OpenChainBench harness.

Which is cheaper on 24h eth funding stddev, Coinbase International or Lighter?

On the Perp DEX funding stability, 24h stddev of ETH funding ranked benchmark, Lighter leads at 0.00000% versus Coinbase International at 0.0044%. Live measurement is updated continuously by the OpenChainBench harness.

How is the Coinbase International vs Lighter comparison measured?

Every benchmark on this page uses the same open methodology, published at https://openchainbench.com/methodology. Data is CC-BY-4.0. Measurement harnesses are MIT-licensed.

Related comparisons

How this pair was selected

Auto-generated pairs require: both providers in the same benchmark for seven consecutive days, at least 1000 samples per provider, observable third-party search demand, and a public /products/[slug] page on OCB. Editorially curated pairs (like this one) may publish early when search demand is high and data is accruing; panels with fewer than 100 samples are shown as provisional. The full pair ledger is versioned in the public repo.