Entry cost

SKHY marketsRWA

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

Asset

Cheapest round trip on $10kLighter1.5 bp

You pay, in and out−$1.50

Second cheapest costs+$2.83 more

Venues that fill it23of 31

Margin at 10x$1,000

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
Lighter SKHY · live order book, 3 min agocheapest	186.15	0.000%/0.000%	0.54 bp	1.0 bp	0.5 bp	1.5 bp	−$1.50	$676K	$1,000 10x	3.6 bp	3.7 bp	3.0-5.4 bp
Lighter RH SKHY · live order book, 5 min ago	186.11	0.000%/0.000%	1.61 bp	2.2 bp	2.2 bp	4.3 bp	−$4.33	$316K	$1,000 10x	4.3 bp	5.6 bp	3.8-8.0 bp
Popdex SKHYUSDT · live order book, 36 min ago	186.11	0.032%/0.010%	0.80 bp	5.1 bp	4.7 bp	9.7 bp	−$9.72	$410K	$500 20x	3.9 bp	3.3 bp	2.0-5.7 bp
Binance SKHYUSDT · live order book, 11 min ago	186.14	0.050%/0.020%	0.27 bp	5.7 bp	5.4 bp	11.1 bp	−$11	$5.3M	$200 50x	0.9 bp	0.9 bp	0.5-2.3 bp
OKX SKHY-USDT-SWAP · live order book, 1 min ago	186.12	0.050%/0.020%	0.27 bp	5.8 bp	5.8 bp	11.6 bp	−$12	$1.4M	$200 50x	1.8 bp	2.0 bp	0.5-4.2 bp
Polymarket Perps SKHY-USD · live order book, 35 min ago	186.08	0.040%/0.013%	2.14 bp	6.1 bp	6.1 bp	12.3 bp	−$12	$1.5M	$1,000 10x	6.0 bp	6.2 bp	4.2-7.4 bp
BloFin SKHY-USDT · live order book, 5 min ago	186.14	0.060%/0.020%	0.27 bp	6.4 bp	6.3 bp	12.7 bp	−$13	$4.7M	$200 50x	1.6 bp	1.4 bp	0.5-3.5 bp
QFEX SKHY-USD · live order book, 6 min ago	186.15	0.050%/0.020%	1.34 bp	6.3 bp	6.3 bp	12.7 bp	−$13	$704K	$1,000 10x	3.1 bp	3.6 bp	2.5-5.1 bp
GRVT SKHY_USDT_Perp · live order book, 35 min ago	186.23	0.045%/0.000%	0.54 bp	7.2 bp	7.2 bp	14.4 bp	−$14	$678K	$1,000 10x	4.7 bp	4.5 bp	2.8-7.5 bp
Aster SKHYUSDT · live order book, 35 min ago	186.28	0.040%/0.000%	1.34 bp	7.7 bp	6.8 bp	14.5 bp	−$15	$121K	$200 50x	5.9 bp	6.4 bp	5.5-8.0 bp
Bybit SKHYUSDT · live order book, 1 min ago	186.11	0.055%/0.020%	0.27 bp	7.0 bp	7.9 bp	14.8 bp	−$15	$1.7M	$100 100x	4.5 bp	5.7 bp	4.2-7.4 bp
Bitget SKHYUSDT · live order book, 1 min ago	186.36	0.060%/0.020%	0.81 bp	8.0 bp	8.5 bp	16.5 bp	−$16	$5.7M	$500 20x	5.4 bp	5.9 bp	4.3-7.6 bp
HTX SKHY-USDT · live order book, 35 min ago	186.05	0.060%/0.020%	2.68 bp	8.7 bp	8.7 bp	17.4 bp	−$17	$614K	$200 50x	6.3 bp	6.4 bp	5.5-8.2 bp
tradeXYZ xyz:SKHY · live order book, 7 min ago	186.14	0.090%/0.030%	0.27 bp	10.0 bp	9.3 bp	19.2 bp	−$19	$439K	$1,000 10x	1.6 bp	2.1 bp	0.8-3.6 bp
Arcus SKHY-USD · live order book, 36 min ago	186.13	0.022%/0.000%	4.29 bp	9.5 bp	10.6 bp	20.1 bp	−$20	$341K	$1,000 10x	10.8 bp	14.9 bp	11.0-17.7 bp
Phoenix SKHY · live order book, 29 min ago	186.38	0.035%/0.005%	3.21 bp	10.7 bp	10.7 bp	21.3 bp	−$21	$402K	$1,000 10x	14.3 bp	13.7 bp	12.7-15.7 bp
edgeX SKHYUSDC · live order book, 36 min ago	186.21	0.045%/0.040%	5.63 bp	10.9 bp	10.6 bp	21.5 bp	−$21	$242K	$1,000 10x	2.9 bp	13.2 bp	12.7-18.1 bp
Coinbase International SKHY-PERP-INTX · live order book, 36 min ago	187.58	0.050%/—	5.89 bp	12.1 bp	10.9 bp	23.0 bp	−$23	$250K	$1,000 10x	14.3 bp	12.1 bp	10.6-14.7 bp
Gate SKHY_USDT · live order book, 1 min ago	186.14	0.075%/0.020%	0.54 bp	14.6 bp	9.6 bp	24.2 bp	−$24	$6.9M	$133 75x	9.0 bp	10.3 bp	6.9-13.6 bp
Deribit SKHY_USDC-PERPETUAL · live order book, 36 min ago	186.15	0.035%/0.015%	6.70 bp	16.4 bp	10.2 bp	26.6 bp	−$27	$293K	$1,000 10x	21.7 bp	22.6 bp	18.6-27.3 bp
KuCoin SKHYUSDTM · live order book, 2 min ago	186.12	0.060%/0.020%	4.84 bp	33.9 bp	22.8 bp	56.6 bp	−$57	$47K	$500 20x	35.6 bp	44.7 bp	35.0-59.9 bp
Phemex SKHYUSDT · live order book, just now	186.17	0.060%/0.010%	3.22 bp	50.9 bp	42.7 bp	93.6 bp	−$94	$47K	$1,000 10x	81.5 bp	82.1 bp	64.7-106.4 bp
SunX SKHY-USDT · live order book, 6 min ago	186.40	0.040%/0.020%	29.49 bp	47.9 bp	72.7 bp	120.7 bp	−$121	$27K	$1,000 10x	112.5 bp	112.6 bp	112.2-113.8 bp
Variational Omni SKHY	186.18	0.000%/0.000%	2.26 bp	the book does not hold this size
Ondo Perps SKHY-USD.P	186.21	0.025%/0.020%	—	no order-book sample in the last 90 minutes
Extended SKHY-USD	186.11	0.025%/0.000%	—	below $100k OI and volume: not sampled
Kraken Futures PF_SKHYUSD	186.40	0.050%/0.020%	—	below $100k OI and volume: not sampled
SoDEX SKHY-USD	186.13	0.040%/0.012%	—	below $100k OI and volume: not sampled
Nado SKHY-PERP	186.27	0.035%/0.010%	—	below $100k OI and volume: not sampled
Orderly PERP_SKHY_USDC_mythos	186.15	0.030%/0.000%	—	below $100k OI and volume: not sampled
Vest SKHY-USD-PERP	186.16	0.010%/0.010%	—	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.