OpenChainBench

Kalshi vs Lighter RH

Kalshi leads on 1 of 4 shared benchmarks, Lighter RH on 3. Kalshi wins on Perp DEX volume share, live 24h notional ranked ($1.54B vs $541.73M). Lighter RH wins on Cheapest perp venue to hold a position, live funding normalized (2.88 bps vs 3.24 bps), Most tradable markets on a perp DEX, live count per venue (57 vs 20), Perp DEX asset breadth (43 vs 4).

Read methodology Last measured Window: rolling 24h4 shared benchmarks
Kalshi logo
Kalshi

CFTC-regulated US prediction market exchange. REST trade API (trade-api/v2) with documented per-tier rate limits; the market data WebSocket requires authentication.

LR
Lighter RH

Side by side measurements

Cheapest perp venue to hold a position, live funding normalized

Trading

Kalshi

Trails

3.24 bps

p99
0 bps
rank
#15
samples
2,243

Lighter RH

Leads

2.88 bps

p99
-2.86 bps
rank
#8
samples
369
Funding cost to hold a long 24h
Kalshin/aLighter RHn/a

Funding is signed. Positive means longs pay shorts, negative means longs get paid to hold. Venues settle on different native periods (1h for Hyperliquid and dYdX, 4h or 8h elsewhere); every figure is normalized from the venue's own quoted rate and interval before ranking. Funding is only the holding cost. Opening costs (taker fee, spread, impact) are the companion bench perp-fees.

Rolling 24h · Funding cost to hold a long 24hRaw JSON

Perp DEX asset breadth: non-crypto markets live, forex + stocks + indices + commodities

Trading

Kalshi

Trails

4

p99
4
rank
#14
samples
2,243

Lighter RH

Leads

43

p99
43
rank
#9
samples
2,243
Non-crypto markets
Kalshin/aLighter RHn/a

Market count reflects the Mobula perp pairs catalog at query time. Only mainnet markets are counted (testnets excluded). Asset class tags (forex, stocks, indices, commodities) are assigned by Mobula's editorial taxonomy and updated when new pairs are listed. Venues not in the Mobula catalog (Hyperliquid, GMX, dYdX, Ostium, Vertex, Paradex, Aster) are monitored separately: their catalogs are crypto-only or verified crypto-only by native API.

Rolling 24h · Non-crypto marketsRaw JSON

Frequently asked questions

Kalshi vs Lighter RH: which one is better?

Kalshi and Lighter RH are compared on 4 shared OpenChainBench benchmarks. Kalshi leads on Perp DEX volume share, live 24h notional ranked. Lighter RH leads on Cheapest perp venue to hold a position, live funding normalized. See the live table on this page for every metric.

Which has the higher 24h perp volume, Kalshi or Lighter RH?

On the Perp DEX volume share, live 24h notional ranked benchmark, Kalshi leads at $1.54B versus Lighter RH at $541.73M. Live measurement is updated continuously by the OpenChainBench harness.

Which is cheaper, Kalshi or Lighter RH?

On the Cheapest perp venue to hold a position, live funding normalized benchmark, Lighter RH leads at 2.88 bps versus Kalshi at 3.24 bps. Live measurement is updated continuously by the OpenChainBench harness.

How is the Kalshi vs Lighter RH 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.

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.

Live data refreshes via ISR within 60 seconds of a new run. Sources are the same Prometheus queries surfaced on the parent benchmark pages.