LIGHT perp index risk
Each exchange prices LIGHT perp liquidations from a mark price built on an index: a weighted basket of spot prices. This page shows each index's composition and an estimate of how much resting spot liquidity backs it.
Index depth is a static-book estimate for the index, not the mark. Static-book estimates from public exchange data. Not a real cost to move any price, not a mark-price forecast, and not trading advice. Methodology and limitations · Constituent changes · All perps
Indexes: Binance LIGHTUSDT · Bybit LIGHTUSDT · OKX LIGHT-USDT-SWAP
Binance LIGHTUSDT index
index LIGHTUSDT · constituents 2026-10-02 22:19ZComposition and constituent price vs index median (observed)
| Constituent | Pair | Type | Weight | Snapshot price | vs median | Guard |
|---|---|---|---|---|---|---|
| binance_alpha | LIGHTUSDT | unknown | 33.3% | 0.185254 2026-10-02 22:19Z |
+0.00% | |
| Bitget | LIGHTUSDT | spot | 33.3% | 0.18508 2026-10-02 22:19Z |
-0.09% | |
| Gate | LIGHT_USDT | spot | 11.1% | 0.18531 2026-10-02 22:19Z |
+0.03% | |
| KuCoin | LIGHT-USDT | spot | 11.1% | 0.1854 2026-10-02 22:19Z |
+0.08% | |
| MEXC | LIGHTUSDT | spot | 11.1% | 0.1847 2026-10-02 22:19Z |
-0.30% |
Prices as published by Binance with the composition; each price shows its observed snapshot time in UTC. Widest constituent spread 0.38%. Guard: Binance caps a source more than 3% from the median (exchange doc, rule set binance-usdm-2026-09-25). Modelled index from these prices: 0.185157.
Mark and index
Observed mark 0.185300, last price 0.185100 (5-minute bucket starting 2026-10-02 22:25Z; mark observation time unavailable). Mark vs modelled index comparison withheld: the sources cannot establish a same-minute observation. Composition prices above are separate snapshots and may have drifted. No modelled mark move is shown for this perp.
Index depth and est. liquidation exposure
No static-book estimate for this perp yet: index depth is only estimated for perps whose spot books are sampled. Today that covers 107 coins (Binance 11, OKX 1, Bybit 77, Bitget 60); the majors are not sampled yet. Covered examples: ACE, ACT, AIGENSYN, AIXBT, ALICE, APEX. The composition and guard above still apply.
Bybit LIGHTUSDT index
index LIGHTUSDT · constituents 2026-10-02 21:35Z · coverage InsufficientComposition and constituent price vs index median (observed)
| Constituent | Pair | Type | Weight | Snapshot price | vs median | Guard |
|---|---|---|---|---|---|---|
| Gate | LIGHT_USDT | spot | 50.0% | 0.18518 2026-10-02 21:35Z |
+0.00% | |
| MEXC | LIGHTUSDT | spot | 31.0% | 0.1848 2026-10-02 21:35Z |
-0.21% | |
| KuCoin | LIGHT-USDT | spot | 19.0% | 0.1858 2026-10-02 21:35Z |
+0.33% |
Prices as published by Bybit with the composition; each price shows its observed snapshot time in UTC. Widest constituent spread 0.54%. Guard: Bybit drops a source more than 5% from the median (exchange doc, rule set bybit-linear-2026-09-04). Modelled index from these prices: 0.18518.
Mark and index
Observed mark 0.185270, last price 0.185120 (5-minute bucket starting 2026-10-02 22:25Z; mark observation time unavailable). Mark vs modelled index comparison withheld: the sources cannot establish a same-minute observation. Composition prices above are separate snapshots and may have drifted. No modelled mark move is shown for this perp.
Index depth and est. liquidation exposure
Insufficient Composition shown, but too little of this index's weight comes from order books we can read to estimate depth. No ranking position is given.
| Range | Index depth (est.) | Depth / OI | Est. liquidation exposure | of which observed | Exposure-to-depth ratio (est.) |
|---|---|---|---|---|---|
| +2% | - | - | $1M | $0 | - |
| +5% | - | - | $1.7M | $0 | - |
| -2% | - | - | $1M | $0 | - |
| -5% | - | - | $1.7M | $0 | - |
Coverage 31% of index weight modelled; held fixed: Gate LIGHT_USDT, KuCoin LIGHT-USDT. Included OI $8.7M (100% complete, exposure ok). Confidence low. Estimate 2026-10-02 21:44Z, books 2026-10-02 21:43Z, exposure 2026-10-02 21:40Z. Models: static-book v1; bybit-linear-2026-09-04; liq-in-range v1; prior hl-2026-09-27.
Index depth history (est.): collecting history, 1 hourly point so far. The chart appears once 24 are stored.
OKX LIGHT-USDT-SWAP index
index LIGHT-USDT · constituents 2026-10-02 21:24ZComposition and constituent price vs index median (observed)
| Constituent | Pair | Type | Weight | Snapshot price | vs median | Guard |
|---|---|---|---|---|---|---|
| binance_linear_perpetual | LIGHT/USDT | perp | 25.0% | 0.1862 2026-10-02 21:24Z |
+0.20% | |
| Gate | LIGHT/USDT | spot | 25.0% | 0.18584 2026-10-02 21:24Z |
+0.01% | |
| KuCoin | LIGHT/USDT | spot | 25.0% | 0.1858 2026-10-02 21:24Z |
-0.01% | |
| MEXC | LIGHT/USDT | unknown | 25.0% | 0.1857 2026-10-02 21:24Z |
-0.06% |
Prices as published by OKX with the composition; each price shows its observed snapshot time in UTC. Widest constituent spread 0.27%. Guard: OKX caps a source more than 2% from the median (exchange doc, rule set okx-swap-2026-09-11). Modelled index from these prices: 0.185885.
Mark and index
Observed mark prices for OKX perps are not tracked here yet.
Index depth and est. liquidation exposure
No static-book estimate for this perp yet: index depth is only estimated for perps whose spot books are sampled. Today that covers 107 coins (Binance 11, OKX 1, Bybit 77, Bitget 60); the majors are not sampled yet. Covered examples: ACE, ACT, AIGENSYN, AIXBT, ALICE, APEX. The composition and guard above still apply.
Constituent divergence history, last 30 days
No constituent divergence recorded for LIGHT in the last 30 days.
Index, not mark. Index depth is a static-book estimate of resting spot liquidity between the index and the stated move, after the exchange's guard. Liquidations use the mark price, which also follows the perp's own price and basis. Static-book estimates from public exchange data. Not a real cost to move any price, not a mark-price forecast, and not trading advice.
Method. Constituents and weights come from each exchange's public index API, refreshed hourly. Spot order books are sampled every 5 minutes. Sources we cannot read are held fixed, so the figure is neither an upper nor a lower bound. See how mark and index prices work and the constituent change log.
LIGHT index risk FAQ
What does this page show?
For each LIGHT perpetual on Binance, OKX, Bybit and Bitget: the spot sources the exchange uses for its index and their weights, how far each source's price currently sits from the median of the others (observed), the exchange's published outlier guard, and a static-book estimate of resting spot liquidity between the index and +/-2% and +/-5%.
Is index depth the amount needed to move the mark price?
No. Liquidations use the mark price, which also depends on the perp's own price and basis. Index depth is a static-book estimate for the index only: real books refill and arbitrage closes gaps, so it is neither an upper nor a lower bound on any real-world figure.
What do the coverage states mean?
OK: at least 80% of index weight comes from order books we read, books under 15 minutes old and constituents under 2 hours old. Partial: 50-80% modelled, the rest held fixed. Stale: the last estimate is older than that and is shown greyed. Insufficient: composition only, no depth or ratio.
Why is the sensitivity marked uncalibrated?
It multiplies the static-book figure by 0.5x, 1x and 2x to show how much the estimate depends on book refill. The multipliers are not fitted to observed events yet, so treat them as a range of assumptions, not a measurement.