Lighter leads on 1 of 3 shared benchmarks, OKX on 2. Lighter wins on Perp DEX funding stability, 24h stddev of ETH funding ranked (0.00000% vs 0.010%). OKX wins on Cheapest perp venue to hold a position, live funding normalized (1.66 bps vs 2.88 bps), Funding paid to hold an ETH perp long for 30 days, per venue, live (43.9 bps vs 63.7 bps). Data as of 2026-09-23 UTC.
Read methodology Last measured Window: rolling 24h3 shared benchmarks
OKX is a major centralized exchange whose USDT-margined perpetual swaps settle funding on variable periods (typically 8 hours), with rates capped per instrument.
Funding is signed. Positive means longs pay shorts, negative means longs get paid to hold. Venues settle on different native periods (hourly on Hyperliquid, dYdX, Lighter, Extended, Pacifica, Ondo, Vest, StandX and ApeX, every 4h on edgeX, every 8h on Kalshi, Aster and the CEX books); 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.
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.
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
Lighter vs OKX: which one is better?
Lighter and OKX are compared on 3 shared OpenChainBench benchmarks. Lighter leads on Perp DEX funding stability, 24h stddev of ETH funding ranked. OKX leads on Cheapest perp venue to hold a position, live funding normalized. See the live table on this page for every metric.
Which is cheaper on 24h eth funding stddev, Lighter or OKX?
On the Perp DEX funding stability, 24h stddev of ETH funding ranked benchmark, Lighter leads at 0.00000% versus OKX at 0.010%. Live measurement is updated continuously by the OpenChainBench harness.
Which is cheaper on funding cost to hold a long 24h, Lighter or OKX?
On the Cheapest perp venue to hold a position, live funding normalized benchmark, OKX leads at 1.66 bps versus Lighter at 2.88 bps. Live measurement is updated continuously by the OpenChainBench harness.
How is the Lighter vs OKX 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.
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.
