Rakebk / Exchanges / Lighter vs TxFlow
Lighter vs TxFlow: which costs less after the rebate?
One answer at every volume:
At every volume: Lighter is cheaper · $252 vs $428 at $1M
Cheaper at every volume
Lighter DEX No KYC
10% back · fee 0.028%
$252
net cost at $1M / month
VS
Never the cheaper one
TxFlow DEX No KYC Points
5% back · fee 0.045%
$428
net cost at $1M / month
Your monthly volume$1M
$100K$1M$10M$100M$1B
Lighter code · 10% back
763613SX
TxFlow code · 5% back
TXTELLEZ
Cheaper at every volumeLighter
Lightersaves $176 a month at $1M
Cheaper at no volumeTxFlow
TxFlownever the cheaper one from $100K to $1B
Fee after rebate at $1MLighter0.0252%TxFlow0.0427%
Lighter0.0252%TxFlow0.0427%Saving at $1M
$176
a month on Lighter · $2,106 a year
What every $1M you trade costs, after the rebate
The more you trade, the cheaper each exchange's fee tier gets. Where the lines cross, the cheaper exchange changes. Hover to price any volume.
LighterTxFlowWhat you actually pay each month
Trading fees minus the rebate, at five monthly volumes. Green is the cheaper one.
Volume / month
Lighter netTxFlow netDifference
$100K
$25
$43
Lighter saves $18
$1M
$252
$428
Lighter saves $176
$10M
$2,520
$4,275
Lighter saves $1,755
$50M
$12,600
$19,000
Lighter saves $6,400
$500M
$126,000
$142,500
Lighter saves $16,500
Which one is for you
Choose Lighter if
- It costs you less after the rebate at every volume
- You want the lower fee from your very first trade: 0.028% vs 0.045%
Choose TxFlow if
- You already have an account there
Side by side
LighterTxFlowRebate
10%
5%
Entry taker fee
0.028%
0.045%
Fee after rebate
0.0252%
0.0427%
Net cost at $1M
$252
$428
Markets
Perpetuals, Spot
Perpetuals, Spot
Payout
Weekly, every Monday, in USDC
Instant, as a fee discount
Code
763613SX
TXTELLEZ
KYC (ID verification)
Not required
Not required
Lighter
- Lighter figures here are for its Premium account (0.028% taker, 0.004% maker), the only one that pays fees.
- Its default Standard account trades perps and spot at 0%, with nothing to get back.
- Staking LIT cuts the Premium fee by up to 30%, not modelled here.
TxFlow
- TxFlow is an on-chain perp DEX: log in with email or a wallet and deposit USDC, no ID check.
- The Code takes 5% off your perp and spot fees, at the fill, on your first $25M of combined volume.
- Tiers use 14 day volume (perps plus spot together), scaled here to a monthly equivalent.
- A points program is live; points have often been followed by a token airdrop, but nothing is confirmed.
- New users may need an access code from TxFlow's Discord.
The two fee ladders
The evidence behind every figure above, as each exchange publishes it.
Lighter · Derivatives
Tier
30-day volume
Maker
Taker
Premium
$0
0.004%
0.028%
TxFlow · Derivatives
Tier
30-day volume
Maker
Taker
VIP 0
$0
0.015%
0.045%
VIP 1
$10,714,286
0.012%
0.04%
VIP 2
$53,571,429
0.008%
0.035%
VIP 3
$214,285,714
0.004%
0.03%
VIP 4
$1,071,428,571
0%
0.028%
VIP 5
$2,142,857,143
0%
0.026%
VIP 6
$4,285,714,286
0%
0.024%
Questions
Which is cheaper, Lighter or TxFlow?
One answer at every volume:
- At every volume: Lighter is cheaper · $252 vs $428 at $1M
Why does the bigger rebate not always win?
A rebate is a share of the fee. A higher fee can hand back more dollars and still cost you more.
- Lighter: 10% back on a 0.028% fee → you pay 0.0252%
- TxFlow: 5% back on a 0.045% fee → you pay 0.0427%
- What you pay is the fee after the rebate, not the rebate %
Can I use both codes?
Yes.
- They are separate exchanges, so each account gets its own rebate
- Open each one through its own Rakebk link or code
- A code only works on a new account
How are these numbers worked out?
- Every order counted as a taker
- At the fee tier your monthly volume reaches on each exchange's published ladder
- Minus the rebate
- Both ladders are on this page, read from each exchange's own fee page
- Updated 26 Oct 2026
Go deeper
Lighter code and fees10% back · full fee ladder · what it is worth
TxFlow code and fees5% back · full fee ladder · what it is worth
