Entry cost

JP225 marketsRWA

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

Asset

Cheapest round trip on $10kPopdex10.9 bp

You pay, in and out−$11

Second cheapest costs+$9.91 more

Venues that fill it4of 7

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
Popdex JP225USDT · live order book, 63 min agocheapest	66,534	0.032%/0.010%	0.45 bp	5.2 bp	5.7 bp	10.9 bp	−$11	$203K	$500 20x	7.4 bp	7.4 bp	5.5-29.5 bp
Bitget JP225USDT · live order book, 55 min ago	66,510	0.060%/0.020%	2.55 bp	10.3 bp	10.6 bp	20.8 bp	−$21	$825K	$500 20x	9.6 bp	12.3 bp	8.3-31.5 bp
tradeXYZ xyz:JP225 · live order book, 3 min ago	66,566	0.090%/0.030%	2.10 bp	11.4 bp	12.3 bp	23.7 bp	−$24	$21K	$500 20x	5.7 bp	13.7 bp	4.3-26.2 bp
MEXC JP225_USDT · live order book, 46 min ago	66,582	0.000%/0.010%	1.43 bp	170.7 bp	146.4 bp	317.1 bp	−$317	$3.1M	$200 50x	308.0 bp	228.5 bp	174.4-252.2 bp
OKX JP225-USDT-SWAP	66,445	0.050%/0.020%	—	below $100k OI and volume: not sampled
Extended JP225-USD	66,549	0.025%/0.000%	—	below $100k OI and volume: not sampled
HTX JP225-USDT	66,533	0.060%/0.020%	138.88 bp	the book does not hold this size (about $965 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.