Entry cost

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

AssetTypeSize11 of 15 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 SAND_USDT · live order book, 4 min agocheapest	1.20 bp	7.4 bp	7.6 bp	2.00 bp	15.0 bp	−$15	$7.1M	200x	12.1 bp	12.4 bp	9.0–16.3 bp
Binance SANDUSDT · live order book, 1 min ago	1.20 bp	13.8 bp	8.4 bp	5.00 bp	22.2 bp	−$22	$1.4M	75x	16.0 bp	17.3 bp	13.4–20.7 bp
Extended SAND-USD · live order book, 44 min ago	2.66 bp	12.4 bp	12.0 bp	2.50 bp	24.4 bp	−$24	$493K	10x	19.3 bp	19.3 bp	18.5–21.1 bp
OKX SAND-USDT-SWAP · live order book, 3 min ago	1.20 bp	14.6 bp	12.6 bp	5.00 bp	27.2 bp	−$27	$149K	50x	22.3 bp	23.1 bp	18.1–28.1 bp
BingX SAND-USDT · live order book, 1 min ago	4.78 bp	14.9 bp	14.8 bp	5.00 bp	29.7 bp	−$30	$3.0M	—	19.6 bp	19.0 bp	15.3–23.7 bp
Bybit SANDUSDT · live order book, 3 min ago	2.40 bp	15.7 bp	14.2 bp	5.50 bp	29.9 bp	−$30	$529K	75x	19.6 bp	19.4 bp	16.0–23.8 bp
BloFin SAND-USDT · live order book, 41 min ago	3.61 bp	9.6 bp	21.0 bp	6.00 bp	30.6 bp	−$31	$1.2M	75x	15.5 bp	17.1 bp	8.0–23.1 bp
Bitget SANDUSDT · live order book, 3 min ago	3.60 bp	17.5 bp	18.5 bp	6.00 bp	36.0 bp	−$36	$587K	10x	32.0 bp	31.4 bp	23.8–40.8 bp
Gate SAND_USDT · live order book, 42 min ago	2.41 bp	32.2 bp	25.3 bp	7.50 bp	57.6 bp	−$58	$127K	75x	48.7 bp	49.7 bp	42.4–59.2 bp
KuCoin SANDUSDTM · live order book, 3 min ago	5.99 bp	52.1 bp	35.0 bp	6.00 bp	87.0 bp	−$87	$286K	50x	80.8 bp	77.2 bp	61.1–99.8 bp
Kraken Futures PF_SANDUSD · live order book, 43 min ago	7.25 bp	45.2 bp	41.9 bp	5.00 bp	87.1 bp	−$87	$142K	25x	50.9 bp	51.4 bp	41.0–78.7 bp
Hyperliquid SAND	1.19 bp	the book does not hold this size (about $8.9k a side)
Variational Omni SAND	5.98 bp	the book does not hold this size
Aster SANDUSDT	—	below $100k OI and volume: not sampled
Injective SAND/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.