Entry cost

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

AssetTypeSize9 of 12 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
BingX NIL-USDT · live order book, 13 min agocheapest	3.10 bp	27.5 bp	8.1 bp	5.00 bp	35.6 bp	−$36	$5.5M	—	47.3 bp	62.3 bp	43.7–79.3 bp
BloFin NIL-USDT · live order book, 52 min ago	2.29 bp	22.3 bp	23.2 bp	6.00 bp	45.5 bp	−$46	$177K	50x	44.3 bp	51.8 bp	34.8–66.6 bp
Binance NILUSDT · live order book, 13 min ago	0.78 bp	27.2 bp	21.2 bp	5.00 bp	48.4 bp	−$48	$507K	50x	43.4 bp	62.5 bp	42.6–76.8 bp
Bitget NILUSDT · live order book, 3 min ago	7.01 bp	30.9 bp	18.9 bp	6.00 bp	49.8 bp	−$50	$143K	50x	46.6 bp	59.4 bp	41.8–89.3 bp
MEXC NIL_USDT · live order book, 3 min ago	0.78 bp	31.1 bp	23.0 bp	2.00 bp	54.2 bp	−$54	$5.9M	100x	62.8 bp	44.8 bp	31.4–62.3 bp
Bybit NILUSDT · live order book, 3 min ago	3.89 bp	33.0 bp	37.8 bp	5.50 bp	70.8 bp	−$71	$168K	20x	90.3 bp	111.4 bp	78.4–130.3 bp
Gate NIL_USDT · live order book, 3 min ago	17.17 bp	43.1 bp	49.1 bp	7.50 bp	92.2 bp	−$92	$51K	50x	76.0 bp	538.2 bp	269.6–683.9 bp
Aster NILUSDT · live order book, 3 min ago	11.71 bp	51.5 bp	41.1 bp	4.00 bp	92.6 bp	−$93	$39K	5x	231.6 bp	188.5 bp	140.9–207.9 bp
KuCoin NILUSDTM · live order book, 9 min ago	25.69 bp	67.3 bp	73.5 bp	6.00 bp	140.8 bp	−$141	$76K	30x	166.9 bp	808.8 bp	503.9–1192.7 bp
Hyperliquid NIL	2.57 bp	the book does not hold this size (about $6.1k a side)
Variational Omni NIL	9.85 bp	the book does not hold this size
Extended NIL-USD	—	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.