Entry cost

IWM marketsRWA

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

Asset

Cheapest round trip on $10kMarkets by Kinetiq13.3 bp

You pay, in and out−$13

Second cheapest costs+$8.46 more

Venues that fill it10of 17

Margin at 20x$500

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
Markets by Kinetiq mkts:SMALL2000 · live order book, 5 min agocheapest	285.92	0.008%/0.003%	1.05 bp	7.3 bp	6.1 bp	13.3 bp	−$13	$436K	$500 20x	6.5 bp	6.0 bp	2.0-12.8 bp
Binance IWMUSDT · live order book, 56 min ago	286.25	0.050%/0.020%	0.17 bp	11.3 bp	10.4 bp	21.8 bp	−$22	$393K	$500 20x	16.9 bp	23.5 bp	15.3-31.5 bp
OKX IWM-USDT-SWAP · live order book, 19 min ago	286.19	0.050%/0.020%	4.20 bp	12.5 bp	10.2 bp	22.7 bp	−$23	$44K	$500 20x	15.3 bp	35.0 bp	16.3-73.8 bp
GRVT IWM_USDT_Perp · live order book, 16 min ago	286.68	0.045%/0.000%	1.40 bp	16.2 bp	11.1 bp	27.2 bp	−$27	$40K	$1,000 10x	21.5 bp	26.7 bp	15.3-45.0 bp
Bitget IWMUSDT · live order book, 15 min ago	286.33	0.060%/0.020%	6.29 bp	16.6 bp	31.7 bp	48.3 bp	−$48	$635K	$500 20x	34.2 bp	45.3 bp	31.7-57.1 bp
MEXC IWM_USDT · live order book, 15 min ago	286.21	0.000%/0.010%	0.35 bp	56.8 bp	2.7 bp	59.5 bp	−$59	$3.7M	$200 50x	9.0 bp	11.9 bp	8.5-37.4 bp
Phemex IWMUSDT · live order book, 21 min ago	286.27	0.060%/0.010%	2.45 bp	49.7 bp	50.8 bp	100.5 bp	−$101	$43K	$1,000 10x	82.8 bp	84.0 bp	68.5-103.7 bp
Bybit IWMUSDT · live order book, 14 min ago	285.96	0.055%/0.020%	1.75 bp	26.3 bp	79.6 bp	105.9 bp	−$106	$74K	$400 25x	103.6 bp	149.0 bp	129.6-160.4 bp
Gate IWM_USDT · live order book, 20 min ago	286.34	0.075%/0.020%	5.60 bp	13.9 bp	156.0 bp	169.9 bp	−$170	$20K	$500 20x	123.4 bp	290.6 bp	214.7-446.9 bp
KuCoin IWMUSDTM · live order book, 13 min ago	285.97	0.060%/0.020%	2.80 bp	5039.2 bp	124.3 bp	5163.5 bp	−$5,164	$14K	$500 20x	481.3 bp	481.8 bp	352.1-667.6 bp
Variational Omni IWM	286.22	0.000%/0.000%	2.08 bp	the book does not hold this size
Lighter IWM	286.38	0.000%/0.000%	—	below $100k OI and volume: not sampled
BloFin IWM-USDT	286.60	0.060%/0.020%	—	below $100k OI and volume: not sampled
Aster IWMUSDT	286.15	0.040%/0.000%	—	below $100k OI and volume: not sampled
SunX IWM-USDT	286.51	0.040%/0.020%	500.26 bp	the book does not hold this size (about $1k a side)
HTX IWM-USDT	286.64	0.060%/0.020%	—	below $100k OI and volume: not sampled
Vest IWM-USD-PERP	286.11	0.010%/0.010%	—	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. 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.