Entry cost

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

AssetTypeSize19 of 32 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 VIRTUAL_USDT · live order book, 3 min agocheapest	0.70 bp	1.5 bp	3.6 bp	0.00 bp	5.0 bp	−$5	$5.8M	100x	6.6 bp	6.3 bp	3.9–8.9 bp
Polymarket Perps VIRTUAL-USD · live order book, 58 min ago	2.96 bp	7.9 bp	7.0 bp	4.00 bp	14.9 bp	−$15	$593K	5x	7.2 bp	6.7 bp	4.5–8.3 bp
Backpack VIRTUAL_USDC_PERP · live order book, 58 min ago	1.41 bp	7.2 bp	8.9 bp	5.00 bp	16.2 bp	−$16	$60K	10x	7.7 bp	7.6 bp	5.6–10.6 bp
edgeX VIRTUALUSDC · live order book, 57 min ago	2.82 bp	8.2 bp	8.4 bp	4.50 bp	16.7 bp	−$17	$122K	10x	7.6 bp	7.9 bp	6.5–9.0 bp
Lighter VIRTUAL · live order book, 50 min ago	4.70 bp	10.3 bp	6.4 bp	0.00 bp	16.7 bp	−$17	$399K	5x	13.9 bp	11.8 bp	9.0–16.1 bp
BingX VIRTUAL-USDT · live order book, 13 min ago	2.13 bp	9.9 bp	9.2 bp	5.00 bp	19.0 bp	−$19	$12.5M	—	7.7 bp	7.6 bp	3.4–9.1 bp
Hyperliquid VIRTUAL · live order book, 2 min ago	1.48 bp	12.6 bp	7.2 bp	4.50 bp	19.8 bp	−$20	$19K	5x	11.4 bp	10.8 bp	7.1–14.9 bp
Bybit VIRTUALUSDT · live order book, 3 min ago	0.71 bp	10.6 bp	9.9 bp	5.50 bp	20.5 bp	−$20	$961K	50x	11.7 bp	11.5 bp	8.5–15.6 bp
Binance VIRTUALUSDT · live order book, 12 min ago	0.71 bp	9.6 bp	11.4 bp	5.00 bp	21.0 bp	−$21	$1.8M	75x	11.5 bp	11.0 bp	8.3–13.5 bp
Bitget VIRTUALUSDT · live order book, 3 min ago	2.12 bp	11.7 bp	10.6 bp	6.00 bp	22.4 bp	−$22	$358K	25x	13.5 bp	13.6 bp	10.9–17.4 bp
BloFin VIRTUAL-USDT · live order book, 57 min ago	3.52 bp	10.4 bp	12.7 bp	6.00 bp	23.1 bp	−$23	$2.1M	75x	11.6 bp	11.5 bp	5.4–16.0 bp
OKX VIRTUAL-USDT-SWAP · live order book, 3 min ago	1.41 bp	11.4 bp	12.8 bp	5.00 bp	24.2 bp	−$24	$226K	20x	16.0 bp	16.1 bp	11.6–20.0 bp
Coinbase International VIRTUAL-PERP-INTX · live order book, 58 min ago	6.33 bp	16.8 bp	11.3 bp	5.00 bp	28.1 bp	−$28	$72K	50x	43.3 bp	39.3 bp	30.0–134.9 bp
Extended VIRTUAL-USD · live order book, 38 min ago	2.32 bp	14.1 bp	14.6 bp	2.50 bp	28.7 bp	−$29	$440K	10x	23.8 bp	23.6 bp	21.8–25.0 bp
ApeX Omni VIRTUALUSDT · live order book, 56 min ago	7.04 bp	14.8 bp	15.7 bp	5.00 bp	30.5 bp	−$30	$153K	50x	19.9 bp	20.0 bp	16.1–21.6 bp
Kraken Futures PF_VIRTUALUSD · live order book, 58 min ago	4.92 bp	20.8 bp	16.1 bp	5.00 bp	36.9 bp	−$37	$312K	50x	29.9 bp	28.8 bp	22.9–36.1 bp
KuCoin VIRTUALUSDTM · live order book, 2 min ago	1.41 bp	23.4 bp	16.8 bp	6.00 bp	40.2 bp	−$40	$497K	50x	28.6 bp	27.6 bp	19.0–35.8 bp
Gate VIRTUAL_USDT · live order book, 3 min ago	3.53 bp	21.3 bp	20.9 bp	7.50 bp	42.2 bp	−$42	$382K	75x	25.5 bp	26.6 bp	20.6–33.5 bp
Aster VIRTUALUSDT · live order book, 56 min ago	7.74 bp	28.0 bp	15.6 bp	4.00 bp	43.6 bp	−$44	$76K	20x	40.0 bp	38.5 bp	32.6–47.4 bp
Variational Omni VIRTUAL	4.23 bp	the book does not hold this size
Pacifica VIRTUAL	—	below $100k OI and volume: not sampled
GMX VIRTUAL/USD [WBTC.b-USDC]	—	oracle execution: slippage not modeled, see the exchange's docs
Aevo VIRTUAL-PERP	—	below $100k OI and volume: not sampled
Deribit VIRTUAL_USDC-PERPETUAL	—	below $100k OI and volume: not sampled
Orderly PERP_VIRTUAL_USDC	—	no order-book sample in the last 90 minutes
gTrade (Gains Network) VIRTUAL/USD	—	no public order book; price impact follows the exchange's formula
Phoenix VIRTUAL	—	below $100k OI and volume: not sampled
01 Exchange VIRTUALUSD	—	below $100k OI and volume: not sampled
SunX VIRTUAL-USDT	500.18 bp	the book does not hold this size (about $1k a side)
SoDEX VIRTUAL-USD	—	below $100k OI and volume: not sampled
Injective VIRTUAL/USDC PERP	—	no order-book sample in the last 90 minutes
Reya VIRTUALRUSDPERP	—	no public order book; price impact follows the exchange's formula

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.