Arch is the most compared lender on this site, and the questions arrive in a specific shape: not "Arch review" but "how does Arch compare with Strike", "how does Arch compare to Ledn", "how does Arch compare with CoinRabbit."
This page answers those directly, then links to the full side-by-side for each pairing. Every figure is the effective APR inclusive of origination fees, verified daily.
Where Arch sits in the market
| Lender | Effective APR (incl. origination) | Max LTV | Lender page |
|---|---|---|---|
| APX Lending | 9.99% to 11.49% | 60.00% | Learn More |
| Arch (Deferred) | 9.49% to 10.99% | 60.00% | Learn More |
| Arch (Standard) | 8.99% to 10.49% | 60.00% | Learn More |
| CoinRabbit | 11.95% to 16.80% | 90.00% | Learn More |
| Figure | 9.76% to 12.35% | 75.00% | Learn More |
| Ledn | 9.99% to 11.49% | 50.00% | Learn More |
| Nexo | 15.90% | 50.00% | Learn More |
| SALT | 7.49% to 10.50% | 70.00% | Learn More |
| Strike | 7.75% to 10.47% | 50.00% | Learn More |
| Unchained | 14.18% | 50.00% | Learn More |
Lender facts on this page render live from our comparison database, last verified August 4, 2026. Figures refresh weekly; for the current set and your own loan size, see the comparison tool.
Arch (Standard) holds the lowest starting effective APR in our set at 7.25%, with Arch (Deferred) at 8%. Both cap at 60% LTV, place collateral with Anchorage Digital, and charge a 1.49% origination fee plus a 2% liquidation fee, with a 24-hour cure window.
That profile decides every comparison below. Arch competes on rate and custody, and concedes on fees and cure time.
Arch vs Ledn
The lowest advertised starting rate against the longest track record in the category.
Both use qualified custodians, so neither asks you to accept pooled custody. Arch starts at 7.25% against Ledn's 9.25%, a two point advantage, but charges 1.49% origination where Ledn charges none. Ledn has operated since 2018 and publishes the longest-running proof of reserves programme in the category, which Arch does not match.
One structural difference borrowers miss: Arch liquidates partially, Ledn liquidates in full. In a sharp drawdown that is the difference between losing part of a position and losing the position.
Full breakdown: Arch vs Ledn.
Arch vs Strike
The closest and most interesting pairing, because the cost is nearly identical and everything else is not.
Arch 7.25%, Strike 7.75%. Half a point apart. Then the trade opens up: Arch places collateral with a federally chartered custodian but charges 1.49% origination and 2% on liquidation. Strike charges no origination fee and no liquidation fee but holds collateral in its own pool, and publishes a quarterly third-party attestation on it.
Strike also gives 72 hours to cure a margin call against Arch's 24. For a borrower who cannot watch a position continuously, that is worth more than half a point.
Full breakdown: Arch vs Strike.
Arch vs CoinRabbit
Different products for different people, and one hard constraint.
Arch at 7.25% and 60% LTV against CoinRabbit at 11.95% and 90% LTV, the highest in our set. CoinRabbit does not disclose its custodian, which is the weakest custody position among the lenders we track.
The constraint: CoinRabbit's terms bar US citizens and residents, so for most readers here the comparison is academic. Where it does operate, it is the leverage option, not the cost option.
Full breakdown: Arch vs CoinRabbit.
Arch vs the rest
Arch vs SALT. SALT starts at 7.49%, effectively level with Arch, with no origination fee and a 48-hour cure window, but holds collateral in its own pool rather than with a custodian. SALT also allows 70% LTV against Arch's 60%.
Arch vs Figure. Figure allows 75% LTV against Arch's 60% and starts at 9.76%. Figure operates its own Fireblocks MPC infrastructure rather than using an independent custodian, so Arch has the stronger custody position and Figure the higher leverage.
Arch vs APX Lending. Both use qualified custodians, APX with BitGo Trust. APX starts at 9.99% with no origination fee and lends in Canada as well as the US.
Arch vs Nexo. Nexo's rate for a borrower holding no NEXO tokens is 15.9%, and it is the only lender in our set whose standard terms permit rehypothecation. Arch is stronger on both cost and custody.
Arch vs Unchained. The two strongest custody positions in the set, priced seven points apart. Unchained is the only lender where you hold a key, at 14.18% with a 2% origination fee, business entities only, $150,000 minimum.
Arch Standard vs Arch Deferred. Same custody, same 60% LTV, different cash flow. Deferred starts at 8% and removes the servicing obligation during the term.
The three questions that actually decide it
Do you want independent custody? If yes, the shortlist is Arch, Ledn, APX and Unchained. Arch is the cheapest of those. The full custody picture is in where your Bitcoin goes during a loan.
How long is your loan? Arch's 1.49% origination fee is a fixed cost. Over twelve months it is amortised thinly and the rate advantage dominates. Over three months it is a large share of what you pay, and a no-fee lender like SALT or Strike likely wins. Run it on the loan calculator.
How fast can you respond? Arch gives 24 hours. Strike gives 72, SALT 48. If a margin call would find you unable to act for a day, that gap matters more than any rate difference. See how to handle a margin call.
Compare directly
Build any pairing on the head-to-head tool, see every lender at once on the comparison tool, or read the full Arch (Standard) review and Arch (Deferred) review.
This is not financial advice
borrow/on/bitcoin is a comparison publisher, not a lender, broker, or financial advisor. We may receive compensation from some lenders featured on this page, including Arch, which does not influence our default ordering or the data we publish. Rates, fees, LTV limits and custody arrangements change without notice, so verify current terms directly with each lender before applying. Borrowing against Bitcoin carries real risk including the loss of your collateral.