Entry cost

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

AssetTypeSize11 of 16 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
Bullet RAY-USD · live order book, 54 min agocheapest	0.56 bp	6.0 bp	5.7 bp	4.00 bp	11.7 bp	−$12	$150K	10x	3.7 bp	3.7 bp	3.4–4.1 bp
MEXC RAY_USDT · live order book, 3 min ago	2.85 bp	7.3 bp	7.1 bp	2.00 bp	14.4 bp	−$14	$3.2M	100x	12.9 bp	11.7 bp	8.6–16.8 bp
BingX RAY-USDT · live order book, 8 min ago	0.28 bp	17.6 bp	12.9 bp	5.00 bp	30.5 bp	−$31	$13.7M	—	20.4 bp	19.7 bp	14.8–23.9 bp
BloFin RAY-USDT · live order book, 52 min ago	1.68 bp	14.0 bp	16.6 bp	6.00 bp	30.6 bp	−$31	$69K	20x	29.9 bp	27.1 bp	15.5–39.5 bp
Bitget RAYUSDT · live order book, 2 min ago	2.85 bp	16.8 bp	14.8 bp	6.00 bp	31.5 bp	−$32	$196K	25x	31.4 bp	26.7 bp	19.8–42.8 bp
OKX RAY-USDT-SWAP · live order book, 3 min ago	1.14 bp	26.6 bp	17.5 bp	5.00 bp	44.1 bp	−$44	$110K	20x	38.6 bp	37.3 bp	25.0–50.3 bp
Lighter RAY · live order book, 50 min ago	9.21 bp	42.9 bp	19.1 bp	0.00 bp	62.1 bp	−$62	$252K	5x	48.4 bp	40.3 bp	29.1–63.7 bp
KuCoin RAYUSDTM · live order book, 1 min ago	6.53 bp	46.6 bp	34.4 bp	6.00 bp	81.0 bp	−$81	$73K	50x	99.3 bp	86.2 bp	56.4–128.0 bp
Gate RAY_USDT · live order book, 57 min ago	3.66 bp	48.8 bp	47.9 bp	7.50 bp	96.8 bp	−$97	$64K	25x	234.1 bp	154.6 bp	74.1–250.3 bp
SunX RAY-USDT · live order book, 2 min ago	46.07 bp	65.2 bp	65.9 bp	5.00 bp	131.1 bp	−$131	$27K	10x	120.2 bp	120.2 bp	119.3–122.0 bp
Kraken Futures PF_RAYUSD · live order book, 58 min ago	45.95 bp	1526.4 bp	57.3 bp	5.00 bp	1583.7 bp	−$1,584	$18K	10x	118.8 bp	127.1 bp	66.5–271.0 bp
Variational Omni RAY	3.60 bp	the book does not hold this size
Orderly PERP_RAY_USDC	—	no order-book sample in the last 90 minutes
HTX RAY-USDT	46.81 bp	the book does not hold this size (about $4.5k a side)
gTrade (Gains Network) RAY/USD	—	no public order book; price impact follows the exchange's formula
Injective RAY/USDC PERP	—	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.