Entry cost

LIGHTER markets

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

Asset

Cheapest round trip on $10kBingX27.4 bp

You pay, in and out−$27

Second cheapest costs—

Venues that fill it1of 2

Margin at max leverage—

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
BingX LIGHTER-USDT · live order book, 3 min agocheapest	4.7012	0.050%/0.020%	1.38 bp	13.9 bp	13.6 bp	27.4 bp	−$27	$7.6M	—	18.9 bp	16.2 bp	9.6-24.6 bp
Variational Omni LIGHTER	4.7019	0.000%/0.000%	3.78 bp	the book does not hold this size

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.