Entry cost

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

AssetTypeSize20 of 29 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
MEXC OP_USDT · live order book, 5 min agocheapest	0.79 bp	2.2 bp	2.9 bp	0.00 bp	5.1 bp	−$5	$48.6M	300x	7.4 bp	7.6 bp	5.1–11.9 bp
Lighter OP · live order book, 37 min ago	5.12 bp	7.0 bp	6.5 bp	0.00 bp	13.5 bp	−$14	$451K	15x	15.7 bp	16.6 bp	13.0–20.8 bp
Binance OPUSDT · live order book, 3 min ago	0.39 bp	9.9 bp	8.3 bp	5.00 bp	18.2 bp	−$18	$2.3M	75x	12.8 bp	12.3 bp	9.3–16.2 bp
Hyperliquid OP · live order book, 3 min ago	1.57 bp	10.3 bp	10.3 bp	4.50 bp	20.7 bp	−$21	$28K	5x	13.4 bp	14.0 bp	10.6–17.3 bp
Deribit OP_USDC-PERPETUAL · live order book, 25 min ago	7.82 bp	11.3 bp	11.3 bp	3.50 bp	22.6 bp	−$23	$91K	25x	15.8 bp	19.8 bp	16.5–29.2 bp
Bybit OPUSDT · live order book, 5 min ago	0.39 bp	10.9 bp	11.8 bp	5.50 bp	22.7 bp	−$23	$1.1M	75x	13.5 bp	13.1 bp	10.0–19.3 bp
Backpack OP_USDC_PERP · live order book, 44 min ago	1.57 bp	13.2 bp	10.6 bp	5.00 bp	23.8 bp	−$24	$18K	10x	14.7 bp	12.9 bp	9.5–18.5 bp
BloFin OP-USDT · live order book, 3 min ago	0.78 bp	10.6 bp	13.7 bp	6.00 bp	24.3 bp	−$24	$879K	75x	14.4 bp	14.3 bp	6.6–20.5 bp
OKX OP-USDT-SWAP · live order book, 5 min ago	0.40 bp	9.5 bp	15.0 bp	5.00 bp	24.6 bp	−$25	$454K	50x	14.8 bp	14.4 bp	11.2–18.1 bp
Bitget OPUSDT · live order book, 4 min ago	3.94 bp	14.7 bp	17.3 bp	6.00 bp	32.0 bp	−$32	$1.3M	75x	20.9 bp	20.9 bp	13.3–25.2 bp
edgeX OPUSDC · live order book, 44 min ago	7.82 bp	18.8 bp	15.4 bp	4.50 bp	34.1 bp	−$34	$114K	10x	25.1 bp	24.9 bp	17.2–29.6 bp
ApeX Omni OPUSDT · live order book, 45 min ago	11.72 bp	19.4 bp	20.3 bp	5.00 bp	39.7 bp	−$40	$144K	50x	31.4 bp	32.3 bp	26.9–35.2 bp
Extended OP-USD · live order book, 44 min ago	11.82 bp	21.0 bp	21.0 bp	2.50 bp	42.0 bp	−$42	$566K	25x	37.5 bp	37.8 bp	36.8–48.6 bp
Gate OP_USDT · live order book, 4 min ago	6.30 bp	26.5 bp	20.4 bp	7.50 bp	46.9 bp	−$47	$672K	50x	34.3 bp	34.1 bp	24.5–43.2 bp
KuCoin OPUSDTM · live order book, 4 min ago	3.94 bp	30.1 bp	21.8 bp	6.00 bp	51.9 bp	−$52	$657K	75x	51.0 bp	50.5 bp	40.0–67.1 bp
Kraken Futures PF_OPUSD · live order book, 44 min ago	12.12 bp	36.2 bp	20.7 bp	5.00 bp	56.9 bp	−$57	$151K	20x	44.0 bp	40.0 bp	31.7–53.0 bp
HTX OP-USDT · live order book, 42 min ago	19.74 bp	26.5 bp	42.6 bp	6.00 bp	69.1 bp	−$69	$18K	50x	62.5 bp	77.4 bp	36.3–311.5 bp
Aster OPUSDT · live order book, 43 min ago	6.74 bp	22.7 bp	56.4 bp	4.00 bp	79.1 bp	−$79	$62K	10x	32.5 bp	31.1 bp	27.2–55.2 bp
Injective OP/USDC PERP · live order book, 45 min ago	35.17 bp	58.6 bp	39.2 bp	0.01 bp	97.8 bp	−$98	$33K	12x	97.7 bp	97.0 bp	86.8–102.9 bp
BingX OP-USDC · live order book, 12 min ago	11.75 bp	103.8 bp	118.8 bp	5.00 bp	222.6 bp	−$223	$1.8M	—	208.9 bp	212.4 bp	195.6–232.2 bp
Variational Omni OP	7.79 bp	the book does not hold this size
dYdX OP-USD	—	below $100k OI and volume: not sampled
Coinbase International OP-PERP-INTX	—	below $100k OI and volume: not sampled
GMX OP/USD [OP-USDC]	—	oracle execution: slippage not modeled, see the exchange's docs
Orderly PERP_OP_USDC	—	below $100k OI and volume: not sampled
Aevo OP-PERP	—	below $100k OI and volume: not sampled
gTrade (Gains Network) OP/USD	—	no public order book; price impact follows the exchange's formula
Reya OPRUSDPERP	—	no public order book; price impact follows the exchange's formula
SoDEX OP-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.