Entry cost

PAYP marketsRWA

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

Asset

Cheapest round trip on $10kBinance55.7 bp

You pay, in and out−$56

Second cheapest costs+$83 more

Venues that fill it3of 8

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
Binance PAYPUSDT · live order book, 27 min agocheapest	17.650	0.050%/0.020%	5.66 bp	34.1 bp	21.6 bp	55.7 bp	−$56	$220K	$500 20x	75.6 bp	76.6 bp	50.5-83.5 bp
GRVT PAYP_USDT_Perp · live order book, 33 min ago	17.659	0.045%/0.000%	11.31 bp	54.1 bp	85.0 bp	139.1 bp	−$139	$90K	$1,000 10x	137.3 bp	141.9 bp	94.3-200.1 bp
SunX PAYP-USDT · live order book, 6 min ago	17.640	0.040%/0.020%	50.99 bp	122.5 bp	137.7 bp	260.2 bp	−$260	$20K	$1,000 10x	284.6 bp	284.0 bp	200.2-339.7 bp
Gate PAYP_USDT	17.650	0.075%/0.020%	—	below $100k OI and volume: not sampled
Variational Omni PAYP	17.647	0.000%/0.000%	—	below $100k OI and volume: not sampled
KuCoin PAYPUSDTM	17.660	0.060%/0.020%	—	below $100k OI and volume: not sampled
HTX PAYP-USDT	17.650	0.060%/0.020%	—	below $100k OI and volume: not sampled
Aster PAYPUSDT	17.670	0.040%/0.000%	—	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.