Entry cost

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

AssetTypeSize9 of 10 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 PHA_USDT · live order book, 2 min agocheapest	2.55 bp	8.7 bp	7.2 bp	2.00 bp	15.9 bp	−$16	$10.2M	50x	24.5 bp	27.1 bp	20.7–37.4 bp
Binance PHAUSDT · live order book, 13 min ago	1.74 bp	19.3 bp	15.9 bp	5.00 bp	35.2 bp	−$35	$731K	50x	55.1 bp	64.4 bp	44.4–80.1 bp
BingX PHA-USDT · live order book, 9 min ago	5.15 bp	20.1 bp	20.3 bp	5.00 bp	40.4 bp	−$40	$4.6M	—	55.1 bp	62.9 bp	42.3–84.6 bp
Aster PHAUSDT · live order book, 48 min ago	8.44 bp	30.3 bp	28.5 bp	4.00 bp	58.7 bp	−$59	$41K	5x	151.2 bp	306.7 bp	182.3–431.1 bp
Bitget PHAUSDT · live order book, 3 min ago	8.54 bp	30.7 bp	28.7 bp	6.00 bp	59.4 bp	−$59	$174K	50x	53.9 bp	70.9 bp	47.3–115.9 bp
BloFin PHA-USDT · live order book, 42 min ago	14.60 bp	29.0 bp	32.6 bp	6.00 bp	61.6 bp	−$62	$272K	50x	47.5 bp	44.9 bp	28.4–62.2 bp
KuCoin PHAUSDTM · live order book, 1 min ago	17.17 bp	47.4 bp	63.2 bp	6.00 bp	110.7 bp	−$111	$159K	30x	373.7 bp	469.0 bp	344.9–604.6 bp
Bybit PHAUSDT · live order book, 3 min ago	8.49 bp	74.6 bp	79.6 bp	5.50 bp	154.2 bp	−$154	$180K	20x	135.9 bp	287.8 bp	273.7–317.5 bp
Gate PHA_USDT · live order book, 3 min ago	12.76 bp	86.5 bp	85.7 bp	7.50 bp	172.2 bp	−$172	$47K	25x	124.0 bp	655.8 bp	458.2–832.6 bp
Variational Omni PHA	6.96 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. 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.