Entry cost

Cost to open and close $10k of CAKE, by exchange.

AssetTypeSize10 of 16 venues priced · CSV

Exchange	Half-spread	Buy	Sell	Taker fee	Round trip	In $	Measured up to	Max lev	Median 24h	Median 7d	p10–p90 7d
MEXC CAKE_USDT · live order book, 3 min agocheapest	0.99 bp	5.3 bp	5.6 bp	2.00 bp	10.9 bp	−$11	$3.3M	125x	7.0 bp	7.2 bp	4.7–10.0 bp
BingX CAKE-USDT · live order book, 10 min ago	0.79 bp	6.0 bp	7.2 bp	5.00 bp	13.2 bp	−$13	$50.1M	—	8.3 bp	7.4 bp	2.3–10.8 bp
BloFin CAKE-USDT · live order book, 52 min ago	0.79 bp	9.3 bp	14.0 bp	6.00 bp	23.4 bp	−$23	$404K	75x	13.1 bp	13.4 bp	6.1–19.1 bp
Binance CAKEUSDT · live order book, 12 min ago	0.20 bp	12.2 bp	12.7 bp	5.00 bp	24.8 bp	−$25	$712K	75x	13.4 bp	14.0 bp	10.2–17.8 bp
ApeX Omni CAKEUSDT · live order book, 59 min ago	5.13 bp	12.5 bp	13.2 bp	5.00 bp	25.7 bp	−$26	$159K	50x	16.8 bp	16.4 bp	13.9–19.8 bp
Bitget CAKEUSDT · live order book, 2 min ago	1.58 bp	18.7 bp	13.5 bp	6.00 bp	32.2 bp	−$32	$295K	75x	21.7 bp	21.6 bp	13.2–30.9 bp
Aster CAKEUSDT · live order book, 3 min ago	4.53 bp	31.0 bp	22.7 bp	4.00 bp	53.8 bp	−$54	$147K	10x	43.8 bp	42.4 bp	33.4–53.6 bp
Bybit CAKEUSDT · live order book, 3 min ago	1.97 bp	26.4 bp	28.1 bp	5.50 bp	54.5 bp	−$55	$526K	50x	38.0 bp	32.0 bp	22.3–43.2 bp
Gate CAKE_USDT · live order book, 2 min ago	4.92 bp	37.8 bp	32.1 bp	7.50 bp	69.9 bp	−$70	$247K	75x	58.1 bp	58.3 bp	47.3–72.1 bp
KuCoin CAKEUSDTM · live order book, 3 min ago	3.74 bp	44.6 bp	39.5 bp	6.00 bp	84.1 bp	−$84	$128K	50x	64.1 bp	68.2 bp	43.2–99.0 bp
Hyperliquid CAKE	0.78 bp	the book does not hold this size (about $4.2k a side)
Variational Omni CAKE	4.70 bp	the book does not hold this size
Kraken Futures PF_CAKEUSD	—	below $100k OI and volume: not sampled
GMX CAKE/USD [WBTC.b-USDC]	—	oracle execution: slippage not modeled, see the exchange's docs
Orderly PERP_CAKE_USDC	—	below $100k OI and volume: not sampled
Injective CAKE/USDC PERP	—	below $100k OI and volume: not sampled

Slippage is the average fill price of a market order walking the book against the mid; the half-spread is part of it. Fees are each exchange's base taker tier. Exchanges that fill at an oracle price (GMX, Avantis, Jupiter) charge price impact by formula and are not modeled. RFQ exchanges (Variational) quote only $1k, $100k and $1M.