Entry cost

SMH marketsRWA

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

Asset

Cheapest round trip on $10kMEXC21.8 bp

You pay, in and out−$22

Second cheapest costs+$7.96 more

Venues that fill it8of 11

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
MEXC SMH_USDT · live order book, 24 min agocheapest	592.76	0.000%/0.010%	4.30 bp	12.3 bp	9.6 bp	21.8 bp	−$22	$259K	$500 20x	22.2 bp	23.7 bp	15.9-32.5 bp
tradeXYZ xyz:SMH · live order book, 3 min ago	592.31	0.090%/0.030%	3.38 bp	16.4 bp	13.4 bp	29.8 bp	−$30	$27K	$500 20x	9.9 bp	29.2 bp	17.2-39.4 bp
QFEX SMH-USD · live order book, 4 min ago	592.16	0.050%/0.020%	2.19 bp	16.6 bp	16.1 bp	32.8 bp	−$33	$100K	$1,000 10x	10.9 bp	1287.4 bp	1283.9-1293.2 bp
Binance SMHUSDT · live order book, 72 min ago	592.74	0.050%/0.020%	4.30 bp	20.3 bp	18.5 bp	38.8 bp	−$39	$430K	$500 20x	19.7 bp	22.2 bp	14.5-30.0 bp
Bitget SMHUSDT · live order book, 30 min ago	592.67	0.060%/0.020%	9.02 bp	26.2 bp	21.1 bp	47.3 bp	−$47	$650K	$500 20x	41.7 bp	48.9 bp	28.8-73.1 bp
Bybit SMHUSDT · live order book, 60 min ago	592.27	0.055%/0.020%	7.93 bp	49.5 bp	23.9 bp	73.4 bp	−$73	$140K	$400 25x	70.2 bp	117.2 bp	72.1-165.6 bp
OKX SMH-USDT-SWAP · live order book, 30 min ago	592.29	0.050%/0.020%	2.11 bp	51.7 bp	51.5 bp	103.2 bp	−$103	$28K	$500 20x	39.8 bp	65.6 bp	38.1-103.3 bp
Gate SMH_USDT · live order book, 26 min ago	592.10	0.075%/0.020%	5.91 bp	301.0 bp	90.3 bp	391.3 bp	−$391	$15K	$500 20x	107.5 bp	185.9 bp	107.6-243.3 bp
BloFin SMH-USDT	592.80	0.060%/0.020%	—	below $100k OI and volume: not sampled
HTX SMH-USDT	593.94	0.060%/0.020%	—	below $100k OI and volume: not sampled
Vest SMH-USD-PERP	592.19	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.