Bitcoin Loan Comparison

Arch vs. Figure

Arch charges 7.25%–10.49% APR with a 0.25%–1.49% origination fee using custodial (Anchorage, qualified custodian). Figure charges 9.99%–12.62% APR with a 1% origination fee using MPC custody (segregated). See the full breakdown of rates, thresholds, and custody risk below.

Terms checked individually — Arch: 2026-09-29; Figure: 2026-07-14.

How do Arch and Figure compare for Bitcoin-backed loans?

For the standardized $250,000, 50% LTV, 12-month scenario, Arch is 9.99% APR and Figure is 9.99% APR. Arch: Monthly-pay option; APR includes the size-based origination fee.

Arch's published APR already includes 1.49% origination fee, and Figure charges a 1% origination fee capitalized into the loan balance, where it accrues interest.

On a $250,000 loan held for 12 months, Arch saves $2,750 in total first-year cost (interest plus applicable fees or charges).

Arch vs. Figure: Feature-by-Feature Comparison

Arch

Figure

Interest Rate (APR)

9.99%

Pricing Basis

Loan size and payment schedule

Starting LTV

Fees / Charges

1.49% origination fee

1% origination feeFigure

Max Starting LTV

60%

75%Figure

Margin Call Threshold

70% LTV

Liquidation Threshold

80% LTV

85% LTVFigure

Margin Call Window

24 hours

Custody Model

Custodial (Anchorage, qualified custodian)

MPC custody (segregated)

Rehypothecation

Interest Payment

Monthly

Minimum Loan

$5,000

Cost on a $250,000 Loan: Arch vs. Figure

To keep the comparison clean, both lenders are modeled at $250,000 principal, 50% starting LTV, and a 12-month term, using monthly-pay pricing where available. Arch pricing varies by loan size and payment schedule; Figure pricing varies by LTV. Actual offers can differ when those inputs change.

Loan Size	Arch APR	Figure APR	Arch Total Year-1 Cost	Figure Total Year-1 Cost	Savings
$250,000	9.99%	9.99%	$24,975	$27,725	$2,750 with Arch

Assumptions: $250,000 principal, 50% starting LTV, 12-month term, and monthly-pay pricing where offered. Total year-1 cost includes annualized interest and fees, but does not add a fee again when the lender's published APR already includes it. Arch: 1.49% origination fee — already included in APR. Figure: 1% origination fee. Terms checked individually — Arch: 2026-09-29; Figure: 2026-07-14.

Custody and Collateral Security

Both Arch and Figure use similar custody approaches: custodial (Anchorage, qualified custodian) and MPC custody (segregated) respectively. Arch uses custodial (Anchorage, qualified custodian). Your Bitcoin depends on the security and solvency of that custody arrangement and could be at risk in the event of a hack, insolvency, or regulatory action. Figure uses MPC custody (segregated). Your Bitcoin depends on the security and solvency of that custody arrangement and could be at risk in the event of a hack, insolvency, or regulatory action.

Arch: High (Custodial)

•Custodial (Anchorage, qualified custodian)
•Rehypothecation: No
•Monthly interest payments
•APR and origination fee both vary by loan size; deferred-interest APR is 0.

Figure: High (Custodial)

•MPC custody (segregated)
•Rehypothecation: No
•Monthly interest payments
•Figure Markets.

Margin Call and Liquidation: Arch vs. Figure

Arch triggers margin calls at 70% LTV and liquidates at 80% LTV. Figure triggers margin calls at 70% LTV and liquidates at 85% LTV. Arch gives borrowers 24 hours to respond, while Figure provides 24 hours.

Threshold	Arch	Figure
Max Starting LTV	60%	75%
Margin Call	70% LTV	70% LTV
Margin Call Window	24 hours	24 hours
Liquidation	80% LTV	85% LTV

Safety Buffer at Each Lender's Maximum Starting LTV

This comparison uses each lender's own maximum starting LTV, not a common 50% starting position. Arch: 20.0 percentage point modeled buffer between maximum starting LTV (60%) and liquidation (80% LTV). Figure: 10.0 percentage point modeled buffer between maximum starting LTV (75%) and liquidation (85% LTV). Arch provides a wider safety margin.

Which is better: Arch or Figure?

Choosing between Arch and Figure requires evaluating total cost, custody risk, and which platform aligns with your borrowing profile. Arch uses custodial (Anchorage, qualified custodian) with 7.25%–10.49% APR, while Figure uses MPC custody (segregated) with 9.99%–12.62% APR.

On the standardized $250,000, 50% LTV, 12-month scenario, Arch costs $24,975 in the first year versus $27,725 at Figure, a difference of $2,750. Part of Figure's higher cost comes from its 1% origination fee, which adds $2,500 on this loan size.

Both platforms use similar custody approaches. Arch operates via custodial (Anchorage, qualified custodian), and Figure uses MPC custody (segregated). Neither platform rehypothecates borrower collateral.

Arch is the better fit for borrowers who need smaller loans or instant access. Figure is the better fit for borrowers who need smaller loans or more flexible access.

Key details to be aware of: Arch: APR and origination fee both vary by loan size; deferred-interest APR is 0.50 percentage points higher than monthly-pay APR through $5M. Figure: Figure Markets. APR 9.

Frequently Asked Questions

Is Arch or Figure cheaper for a $250,000 Bitcoin-backed loan?

Arch is cheaper under the stated assumptions. On a $250,000 loan at 50% LTV held for 12 months, Arch costs $24,975 (9.99% APR) while Figure costs $27,725 (9.99% APR). That is a $2,750 difference in the first year.

How does Arch's custody model compare to Figure?

Arch uses custodial (Anchorage, qualified custodian). Figure uses MPC custody (segregated). Both platforms present similar custody risk profiles.

What is the minimum loan amount at Arch vs Figure?

Arch's minimum loan is $5,000. Figure's minimum is $5,000. Both have the same minimum.

What happens if Bitcoin drops while I have a loan with Arch or Figure?

Arch issues a margin call at 70% LTV with a 24-hour response window and liquidates at 80% LTV. Figure issues a margin call at 70% LTV with a 24-hour response window and liquidates at 85% LTV. For a common 50% starting LTV (rather than each lender's maximum), the modeled buffers are 30 points at Arch and 35 points at Figure.

Should I use Arch or Figure for a Bitcoin-backed loan?

It depends on your priorities. Arch (7.25%–10.49% APR, custodial (Anchorage, qualified custodian), min $5,000) is better for borrowers who value custodial (Anchorage, qualified custodian) and need smaller loan access. Figure (9.99%–12.62% APR, MPC custody (segregated), min $5,000) is better for borrowers who value MPC custody (segregated) and need smaller loan access. Use the rate table and cost comparison above to model your specific scenario.

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Understand the key terms

Rehypothecation Discreet Log Contracts Custodial vs. Non-Custodial LTV Ratio Margin Call Counterparty Risk

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