Muun vs. Aqua - thinking through the benefit of Lightning/Liquid

I have been testing Muun vs. Aqua (and also Green) and it seems that Muun is actually cheaper becasue it saves steps/fees. Am I’m processing this accurately?

Right now Lightning/Liquid options are providing some cheaper ways to move from an Exchange to Cold Storage, right? (especially for those of us that illogically can’t get River or Strike to verify us ????) If it’s free to send by Lightning (i.e. Kraken) then Muun receives that for free and has only one step/fee to send on chain to a cold wallet. In my test the total Muun fees were 1.6%

But Aqua charges a small fee to receive Lightning (like .35%), then you pay a bigger fee to swap into your BTC (my test was about 1.75% on 100k sats - which was still cheaper than doing this myself via Boltz), and then you pay a fee to move from the BTC wallet to a cold wallet. In my test total Aqua fees totaled 2.4%

(For Green, their experimental Lightning wallet is currently very glitchy, and it would require a manual swap then via Boltz to covert ot BTC and send to the Jade Hardware Wallet. I couldn’t complete a test, but the manual swap in Boltz is only cheaper than Muun up to 175k sats, for higher amounts the .5% extra Boltz charge makes Muun the cheaper option than Green/Boltz)

What am I missing? According to previous posts that I could find on here Muun is considered more expensive because it’s not a true lightning wallet, but if your goal is staking sats than it’s actually cheaper.

Additional details I noted:

Muun’s custom BTC Send fee/speed is not quite as low as Aqua allows (maybe that’s where Muun ”bundles” the swap fee?). Muun won’t let you go below some “minimum market speed” (i.e. like 6.5 sats/vbyte) whereas Aqua lets you specify anywhere from 2-5 sats/vbyte. But adding the swap fee in Aqua always makes it more expensive than Muun.

Now if you’re sending/receiving Liquid than Muun isn’t an option. But my test of sending Liquid from Aqua to Green was slightly more expensive than via Lightning (i.e. 140-260 on 10k sats on Liquid vs. 65 sats on Lightning) That might be affected by having “open channels“ already, and when/if there are extra fees on Lightning to do so (I haven’t figures out how to factor in those variables yet).