Entry cost

CIEN marketsRWA

Type a position size; every exchange is repriced against its live order book.

Asset

Cheapest round trip on $10kQFEX34.1 bp

You pay, in and out−$34

Second cheapest costs+$16 more

Venues that fill it8of 11

Margin at 10x$1,000

Exchange	Price	Taker / maker	Half-spread	Buy (long)	Sell (short)	Round trip	In $	Measured up to	Margin at max lev	Median 24h	Median 7d	p10-p90 7d
QFEX CIEN-USD · live order book, 5 min agocheapest	367.33	0.050%/0.020%	1.64 bp	16.7 bp	17.4 bp	34.1 bp	−$34	$88K	$1,000 10x	18.3 bp	22.8 bp	13.1-174.3 bp
Binance CIENUSDT · live order book, 9 min ago	366.81	0.050%/0.020%	6.70 bp	27.8 bp	22.0 bp	49.8 bp	−$50	$401K	$500 20x	32.1 bp	33.4 bp	19.4-60.6 bp
Paragon para:CIEN · live order book, 28 min ago	367.80	0.050%/—	40.51 bp	45.5 bp	45.5 bp	91.0 bp	−$91	$166K	$1,000 10x	92.5 bp	91.3 bp	68.4-97.1 bp
Bybit CIENUSDT · live order book, 7 min ago	367.34	0.055%/0.020%	15.58 bp	61.3 bp	64.3 bp	125.7 bp	−$126	$120K	$400 25x	169.3 bp	187.5 bp	121.0-224.6 bp
OKX CIEN-USDT-SWAP · live order book, 36 min ago	366.83	0.050%/0.020%	10.23 bp	58.1 bp	73.2 bp	131.2 bp	−$131	$20K	$500 20x	130.8 bp	124.0 bp	86.2-159.4 bp
Gate CIEN_USDT · live order book, 36 min ago	367.10	0.075%/0.020%	23.20 bp	116.7 bp	71.4 bp	188.0 bp	−$188	$16K	$500 20x	71.8 bp	134.3 bp	82.2-175.6 bp
Bitget CIENUSDT · live order book, 31 min ago	367.13	0.060%/0.020%	16.74 bp	201.6 bp	30.0 bp	231.6 bp	−$232	$641K	$500 20x	55.0 bp	63.5 bp	44.3-99.4 bp
KuCoin CIENUSDTM · live order book, 47 min ago	366.48	0.060%/0.020%	12.04 bp	394.8 bp	279.6 bp	674.4 bp	−$674	$12K	$500 20x	624.7 bp	632.7 bp	540.5-728.7 bp
Variational Omni CIEN	366.82	0.000%/0.000%	—	below $100k OI and volume: not sampled
HTX CIEN-USDT	369.40	0.060%/0.020%	—	below $100k OI and volume: not sampled
SunX CIEN-USDT	367.20	0.040%/0.020%	500.11 bp	the book does not hold this size (about $108 a side)

Slippage is the average fill price of a market order walking the book against the mid; the half-spread is part of it. A size between two measured points is interpolated and marked ~. Fees are each exchange's base taker tier, before volume tiers and token discounts. 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. The calculator runs from $1k to $5M.