I would buy the ARC if I wanted the nicest possible Leatherman to use, with price no object. But the Wave+ is 85-90% as good at about half the price. I have carried a stainless Wave+ almost every day since 2020. I bought my ARC when it launched in 2023, so I have had it for almost three years and carried it for at least a hundred days. The ARC is unquestionably the more refined tool, but the Wave+ is also really good, and it is $120 cheaper at current US list prices. You can almost buy two Wave+ tools for the price of one ARC. For price versus performance, the Wave+ wins hands down.
What this comparison draws on
My Wave+ has been with me for nearly six years of daily life, sailing, camping, mountain trips and DIY. I have owned the ARC for nearly three years and used it outdoors, on boats and for everyday repairs. The Wave+ has been mine for about twice as long, but I have put a lot of hours on the ARC too and know both tools well.
My recommendation
Buy the ARC if easy one-handed access to all the tools, a MagnaCut knife and more useful scissors are worth nearly twice the price to you. I enjoy the ARC every time I open it; the FREE system is a joy and I love having all the tools on the outside. But I still choose the Wave+ most days because in real use it ticks almost all the same boxes. It is also much cheaper, so I worry less about losing or breaking it.
Wave+ vs ARC at a glance
| Measure | Wave+ | ARC |
|---|---|---|
| My score | 4.7 / 5 | 4.5 / 5 |
| Time owned | Since 2020; bought second-hand for about £80 | Since its October 2023 launch; bought new |
| Best reason to choose it | Everyday utility and value | One-handed access and premium blade |
| US list price checked October 2026 | $129.95 | $249.95 |
| Listed weight and closed length | 8.5 oz; 4 in | 8.6 oz; 4.25 in |
| Blade setup | Separate plain and serrated 420HC blades | One plain-edge CPM MagnaCut blade |
| Access | Four main tools open from outside; most others require opening the handles | All implements outside-accessible with FREE one-handed action |
| Scissors | My scissors are bad; the spring has always stuck | Larger pair has worked well, including for first-aid tasks |
| My main reservation | The scissors on my own tool | High price, softer-feeling cutters and slight frame flex under high torque |
Which one would I buy?
Best value and my daily pick
Leatherman Wave+
The Wave+ is still a solid pick if you want a highly usable, ergonomic multitool for the boat, car, camp or ordinary fixes. It is the right shape and size to disappear into a pocket or bag while still packing in two accessible blades, precise needle-nose pliers, a useful driver system and more. My own scissors are poor: their spring sticks and they have never worked right. I hear other users like them, so my pair may be unusual.
Best premium experience
Leatherman ARC
I would pay for the ARC if I wanted the best tool with money no object. It also makes sense if I repeatedly need to work one-handed or want a knife blade that feels closer to a good dedicated folder. The FREE mechanism makes every tool quicker to reach, and the MagnaCut blade is excellent. Price is the deciding factor because the Wave+ already handles my jobs, just less elegantly.
Almost the same weight, different feel
The weight difference is almost nothing: 8.5 oz for the Wave+ and 8.6 oz for the ARC. Both sit comfortably in a pocket and do not need a bag or sheath. The Wave+ is a quarter-inch shorter when closed, but I have not noticed much difference in real use. I have carried both snowboarding in the Alps, hiking in the Laurentides and sailing in the Mediterranean. I genuinely did not notice a difference in weight or pocket feel.
The ARC is all about what happens when you take a tool out. The FREE mechanism lets me flip open the pliers and bring out any tool with one hand. On a boat I sometimes need to work with one hand while the other holds a line, so that speed is useful. The Wave+ still has four outside-accessible tools, including both blades; its smaller implements sit inside the handles. Opening the Wave+ feels smooth and natural. The ARC feels faster and more polished again, but is that worth an extra $120 to you?
Two practical blades or one exceptional blade
The Wave+ gives me a plain edge and a separate serrated edge, both accessible without opening the pliers. I tend to use the plain blade for food, packaging and clean cuts, then switch to the serrated one for line or other fibrous materials. It is useful for stripping cable too. Mine need sharpening once or twice a year and neither has chipped, despite an almost comically varied list of jobs that includes carpet and insulation work, fishing, snowboarding, camp craft and vehicle repair.
The ARC's plain-edge MagnaCut blade is undoubtedly the better knife. It holds an edge for longer in my use, resists corrosion in wet and salty settings, and its thumb stud makes it feel closer to a dedicated folder. If the knife is the part you will use most, that upgrade is easy to appreciate. I still value having the Wave+'s second blade, particularly when I want to keep the plain edge clean for food or put the serrations to work on something rougher like stripping chunky DC cable.
The ARC blade has stayed clean around salt, although I have seen some small rust spots on its plier jaws. My regularly oiled Wave+ has shown no corrosion. The ARC's premium steel is in its knife blade; the jaws can still spot with rust.
Pliers, drivers and scissors
On either tool, the needle-nose pliers are the part I reach for most. They grip small parts, pull splinters and help work tight knots when a marlinspike is below deck. The Wave+'s jaws and handles have stayed tight through nearly six years of use. The ARC's pliers are also precise and more convenient to deploy, but I can feel a little flex in its frame when I lean into a high-torque job. Its replaceable cutters have felt softer than the ones on my older Wave+ and Surge tools. I would use dedicated pliers for heavy work with either tool.
Both take Leatherman's flat bits. I own both bit kits and carry them in a bag, and the slim format gives me a wide driver selection without much bulk. I have used the Wave+ drivers for snowboard bindings, boat hardware and the steady trickle of small household fixes. They do not replace a proper screwdriver when there is a long run of fasteners, but both are capable field-repair tools.
The ARC wins hands down on scissors. Its larger pair has been useful for small first-aid and everyday jobs. The spring on my Wave+ scissors has been sticky from the day I bought it: they cut, but I have to work them open and closed by hand. Six years of oiling have not changed that, so I think I got a bad pair. Mildly controversial opinion, but I prefer Victorinox scissors if I know I will be making lots of small snips. My scissors are the main reason the Wave+ stops at 4.7/5 instead of pushing closer to five.
What long ownership has shown me
The Wave+ has been with me for thousands of days across roughly eight countries. Its blades have no chips, its locks still engage properly, and the pliers have not gone sloppy. I sharpen it once or twice a year and put Ballistol on the pivots and exposed steel. The action has grown smoother with use rather than loose. Apart from the stubborn scissors, it still feels remarkably fresh for a tool I bought used in 2020.
My ARC has nearly three years behind it. Its MagnaCut blade has been excellent. I have noticed a little frame flex under hard use, a few cosmetic rust spots on the jaws and cutters that inspire less confidence than the older setup. It has remained a useful, reliable medium-duty tool.
Is the ARC worth nearly double?
Leatherman listed the Wave+ at $129.95 and the ARC at $249.95 in the US when I checked in October 2026. My Wave+ cost about £80 second-hand, which has made its personal value extraordinary. The two tools weigh almost the same and both cover most of the work I actually ask of a pocket multitool.
I get perhaps 85-90% of the ARC's everyday usefulness from the Wave+ for about half the US list price. The ARC's remaining advantages are the MagnaCut blade, scissors and outside-accessible FREE action. Each improves the experience when the job calls for it. If money were no object, I would happily buy the ARC again. But with my own money and a choice of only one, I would always take the Wave+ and keep the difference, or buy two.
My pick
Wave+ for value and daily carry. ARC for the best action and blade.
The Wave+ has earned my trust through more years and more kinds of work. The ARC is definitely the finer object to use, especially when one-handed access matters. Most buyers will get the utility they need from the Wave+; the ARC is worth the upgrade if price is no concern or its specific improvements are the reason you are buying.
Read the field tests
Full reviews behind this guide
Sources & context
Product details checked
The carry, durability and tool-use judgments above come from my long-term ownership and the two full reviews. The listed tool counts, weights, dimensions, blade steels and October 2026 US prices were checked against Leatherman's product pages.
Editorial disclosure: I bought both tools with my own money. The Wave+ was a second-hand purchase in 2020; I bought the ARC at launch in 2023. Leatherman did not provide either tool, fund the reviews or have editorial input.