🤔 'But bro, it's still cheaper to trade at Lighter.' ℹ️ Well, it depends... For many, @variational_io IS where you should be trading, purely from a cost perspective. Let's simply ignore the $VAR token for now 👀 😮 Loss refunds are YUGE. Massive. But it's hard to demonstrate this in an accessible way, because there are a few variables: -How you trade -What you trade -Your sizing -Your strike rate -Your loss refund odds -How often you actually hit a refund (variance) -Your average refund 🔬 Let's imagine you trade $10m in volume on $BTC over many trades, and you break even. At Variational, you'd expect to pay ~$3k to the spread 😱 However, because of loss refunds, you could reasonably expect to get ALL your losses back and actually end up in profit 🫰 THAT'S how much difference loss refunds can make, forcing the question: if you are actively trading, why wouldn't you trade at Variational? 🔎 The caveat is that many variables dictate how meaningful loss refunds will be for you. You might also run below (or above) expectation, ending up with fewer or more refunds than projected - that’s variance for you. See @mr_plumpkin’s tweet below for a breakdown of the maths But one thing should be clear: ✅ For many, many traders, they would be saving money by trading at Variational, ESPECIALLY with the 3x boost in loss refunds live until 21st Oct ➡️ Now consider the following... ...