Lighter API/MM Updates

The Python SDK has been updated to the 1.0.4 version. Main changes include:

- New endpoints are now supported
- Fixed a memory leak issue
- Support market orders using quote amount
- Fixed order book updates for the WebSocket client

Commits can be found here: https://github.com/elliottech/lighter-python/commits/main/
The SDK is also available on PyPI: https://pypi.org/project/lighter-sdk/1.0.4/

re: $ARC

Please see a detailed breakdown of today here: https://x.com/Lighter_xyz/status/2026823829260054705?s=20

Recent updates:

- You can now retrieve realized PnL for both perps and spot positions using the trades endpoint, via bid_account_pnl (only perps) and ask_account_pnl. Only the PnL for the queried account index will be displayed.

- You can now track the average entry price for spot assets using the account_spot_avg_entry_prices WebSocket channel: https://apidocs.lighter.xyz/docs/websocket-reference#average-entry-prices

The market_stats/all and spot_market_stats/all WebSocket channels will start sending updates every 50ms.

This change will take effect on February 25, 2026 at 11:00 AM UTC.

The behavior when filtering for individual markets will not change.

Recent updates:

- The exchangeMetrics endpoint now supports a new tps parameter, which returns transactions per seconds on lighter's app-chain for all available resolutions
- The export endpoint now allows users to query trades in custom timeframes up to 12 months, or 1m events
- Added more details on tx types subject to volume quota requirements: https://apidocs.lighter.xyz/docs/volume-quota-program
- Max connections per minute via WebSocket have been increased to 80

Recent updates:

- A new WebSocket channel for BBO data has been added: https://apidocs.lighter.xyz/docs/websocket-reference#best-bid-and-offer-bbo
- The account_trading_mode field has been added to the user_stats WebSocket channel

We will be performing a network upgrade on February 16th, 2026 at 10:00 PM UTC. Expected downtime is under 15 minutes. Please manage your positions in advance, as order placement will be unavailable during the upgrade.

We will be deploying new LLP strategies -- more on this after the upgrade.

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$XAU and $XAG are now available under cross margin and function like standard perpetual markets. They are quoted by LLP and are subject to the platform’s standard liquidation mechanics. Additional RWA markets will transition to cross margin in the coming days.

Following the funding rates rebates and unified trading account updates, we have added new fields to our api responses:

- discount field in positionFunding, expressed in USDC

- funding_fee_discounts_enabled field for each asset on orderBookDetails

- total_discount field to the WS/AccountAllPositions channel, expressed in USDC

- account_trading_mode field in the account and accountsByL1Address endpoints (simple mode:0, unified mode:1)

We will be performing a network upgrade on February 12th, 2026 at 10:00 PM UTC. Expected downtime is under 15 minutes. Please manage your positions in advance, as order placement will be unavailable during the upgrade.

- The Rate Limits page has been revamped, adding some details on the cooldown period: https://apidocs.lighter.xyz/docs/rate-limits

- Fees have been updated according to the new staking tiers: https://apidocs.lighter.xyz/docs/account-types

- The accountLimits endpoint now returns details on the fee tier you’re in: https://apidocs.lighter.xyz/reference/accountlimits

- Latency for cancels on a standard account has been changed to 200ms

- More error codes have been added here: https://apidocs.lighter.xyz/docs/data-structures-constants-and-errors

- The export endpoint now allows users to query custom timeframes up to 3 months, with plans to allow up to 12 months and to aggregate fills soon. Additionally, spot trades now use buy/sell instead of long/short: https://apidocs.lighter.xyz/reference/export

- The Python SDK has been updated: https://github.com/elliottech/lighter-python/commit/54d3582ff64571aa7230de1f682188d32fa38561

- API Docs have been revamped: https://apidocs.lighter.xyz/docs/get-started

- The exchangeMetrics endpoint (the same used by the Stats page) now allows you to query historical values for the exchange activity: https://apidocs.lighter.xyz/reference/exchangemetrics

- Rate Limits for the block explorer endpoints have been increased, from 15 to 90 weighted requests per minute: https://apidocs.lighter.xyz/docs/rate-limits

- To access read-only data via Websocket e.g. if you're connecting from a restricted region (⁠general-info), add ?readonly=true to the WS URL

We're doing a network upgrade on January 28th at 9:30PM UTC.  Downtime should be under 15 minutes. Manage your positions in advance, orders will not get placed during downtime.

We're doing a network upgrade on January 15, 2026 at 12:00 PM UTC. Downtime should be under 10 minutes. Manage your positions in advance, orders will not get placed during downtime.

Premium accounts: Volume Quota Updates

- Previously: 10 USDC volume = +1 volume quota
- Now: 7 USDC volume = +1 volume quota

See more details here: https://apidocs.lighter.xyz/docs/volume-quota-program

We're doing a network upgrade on January 4, 2026 at 9:30 PM UTC. Downtime should be under 10 minutes. Manage your positions in advance, orders will not get placed during downtime.

On December 29, 2025 at 4 PM UTC we will start requiring authentication to access the account_all_positions websocket channel, except when specifying a public pool as account index.

See details here: https://apidocs.lighter.xyz/docs/websocket-reference#account-all-positions

We're doing a network upgrade on December 28, 2025 at 9:30 PM UTC. Downtime should be under 10 minutes. Manage your positions in advance, orders will not get placed during downtime.

We will deprecate the endpoint below on December 29, 2025 at 4:00 PM UTC.

/api/v1/candlesticks

As an alternative (same weight), you can use the candles endpoint: https://apidocs.lighter.xyz/reference/candles.

Query parameters and values returned don’t change, but variables in the response have a different name, and we will omit variables when they are zero.

We're doing a network upgrade on December 26, 2025 at 12:00 PM UTC. Downtime should be under 15 minutes. Manage your positions in advance, orders will not get placed during downtime.