Entry cost

XAU marketsRWA

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

Asset

Cheapest round trip on $10kLighter1.0 bp

You pay, in and out−$0.99

Second cheapest costs+$0.54 more

Venues that fill it29of 39

Margin at 25x$400

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 XAU · live order book, 14 min agocheapest	4,316	0.000%/0.000%	0.49 bp	0.5 bp	0.5 bp	1.0 bp	−$0.99	$15.9M	$400 25x	1.2 bp	1.3 bp	0.7-2.1 bp
Lighter RH XAU · live order book, 4 min ago	4,318.1	0.000%/0.000%	0.61 bp	0.9 bp	0.6 bp	1.5 bp	−$1.53	$1.5M	$400 25x	1.4 bp	0.9 bp	0.4-1.8 bp
MEXC XAU_USDT · live order book, 4 min ago	4,317.5	0.020%/0.010%	0.04 bp	2.0 bp	2.1 bp	4.1 bp	−$4.14	$22.2M	$10 1000x	0.1 bp	0.1 bp	0.1-0.1 bp
Extended XAU-USD · live order book, 4 min ago	4,313.1	0.025%/0.000%	0.12 bp	2.6 bp	2.6 bp	5.2 bp	−$5.24	$4.7M	$400 25x	0.2 bp	0.2 bp	0.2-1.4 bp
RISEx XAU/USDC · live order book, 4 min ago	4,316.9	0.030%/0.010%	0.35 bp	3.4 bp	3.4 bp	6.7 bp	−$6.72	$1.0M	$400 25x	0.5 bp	0.5 bp	0.0-2.3 bp
Aster XAUUSD1 · live order book, 4 min ago	4,318.2	0.040%/0.000%	0.01 bp	4.0 bp	4.4 bp	8.4 bp	−$8.45	$2.9M	$500 20x	0.0 bp	0.0 bp	0.0-0.1 bp
GRVT XAU_USDT_Perp · live order book, 3 min ago	4,319.3	0.045%/0.000%	0.01 bp	4.7 bp	4.5 bp	9.2 bp	−$9.20	$1.4M	$400 25x	0.0 bp	0.0 bp	0.0-0.5 bp
Pacifica XAU · live order book, 4 min ago	4,313.4	0.040%/0.015%	0.12 bp	4.5 bp	4.8 bp	9.3 bp	−$9.28	$16K	$1,000 10x	1.3 bp	1.3 bp	0.7-2.6 bp
edgeX XAUUSDC · live order book, 4 min ago	4,309.9	0.045%/0.040%	0.35 bp	4.8 bp	4.8 bp	9.7 bp	−$9.70	$9.1M	$200 50x	0.7 bp	10.1 bp	2.1-10.7 bp
Binance XAUUSDT · live order book, 4 min ago	4,316.5	0.050%/0.020%	0.01 bp	5.0 bp	5.0 bp	10.0 bp	−$10	$3.8M	$100 100x	0.0 bp	0.0 bp	0.0-0.0 bp
Polymarket Perps GOLD-USD · live order book, 4 min ago	4,317.7	0.040%/0.013%	1.04 bp	5.0 bp	5.2 bp	10.2 bp	−$10	$4.5M	$500 20x	0.7 bp	1.3 bp	0.2-2.3 bp
OKX XAU-USDT-SWAP · live order book, 4 min ago	4,316.9	0.050%/0.020%	0.12 bp	5.1 bp	5.3 bp	10.4 bp	−$10	$10.2M	$100 100x	0.2 bp	0.2 bp	0.2-0.2 bp
Bybit XAUUSDT · live order book, 4 min ago	4,317.3	0.055%/0.020%	0.01 bp	5.9 bp	5.5 bp	11.4 bp	−$11	$5.5M	$67 150x	0.0 bp	0.0 bp	0.0-0.7 bp
Coinbase International GOLD-PERP-INTX · live order book, 4 min ago	4,315.3	0.050%/—	0.12 bp	5.6 bp	6.4 bp	12.0 bp	−$12	$658K	$400 25x	1.5 bp	1.6 bp	0.3-4.4 bp
BloFin XAU-USDT · live order book, 4 min ago	4,317.1	0.060%/0.020%	0.01 bp	6.0 bp	6.0 bp	12.0 bp	−$12	$1.4M	$100 100x	0.1 bp	0.0 bp	0.0-0.9 bp
Deribit GOLD_USDC-PERPETUAL · live order book, 29 min ago	4,315.8	0.035%/0.015%	0.12 bp	3.6 bp	8.4 bp	12.0 bp	−$12	$572K	$400 25x	2.4 bp	1.8 bp	0.2-7.0 bp
Bitget XAUUSDT · live order book, 4 min ago	4,316.6	0.060%/0.020%	0.01 bp	6.0 bp	6.1 bp	12.1 bp	−$12	$1.7M	$100 100x	0.1 bp	0.3 bp	0.0-1.0 bp
StandX XAU-USD · live order book, 4 min ago	4,319.8	0.040%/0.010%	0.12 bp	4.1 bp	8.5 bp	12.6 bp	−$13	$7.8M	$250 40x	6.4 bp	6.0 bp	2.5-8.5 bp
Kalshi KXGOLDPERP · live order book, 4 min ago	4,319.1	0.050%/—	0.12 bp	5.9 bp	7.2 bp	13.1 bp	−$13	$2.4M	$655 15x	2.6 bp	3.4 bp	1.6-5.2 bp
HTX XAU-USDT · live order book, 4 min ago	4,324.6	0.060%/0.020%	0.01 bp	7.9 bp	7.3 bp	15.3 bp	−$15	$1.9M	$133 75x	3.8 bp	3.6 bp	1.2-6.3 bp
QFEX GOLD-USD · live order book, 3 min ago	4,315.8	0.050%/0.020%	2.66 bp	7.7 bp	7.7 bp	15.3 bp	−$15	$4.6M	$500 20x	4.7 bp	5.2 bp	2.9-6.4 bp
Gate XAU_USDT · live order book, 4 min ago	4,318.4	0.075%/0.020%	0.01 bp	7.5 bp	8.5 bp	16.0 bp	−$16	$20.2M	$100 100x	0.0 bp	0.0 bp	0.0-0.9 bp
Kraken Futures PF_XAUUSD · live order book, 28 min ago	4,314.1	0.050%/0.020%	2.53 bp	8.4 bp	8.3 bp	16.7 bp	−$17	$724K	$400 25x	6.8 bp	7.5 bp	5.9-9.4 bp
tradeXYZ xyz:GOLD · live order book, 10 min ago	4,313.6	0.090%/0.030%	0.12 bp	10.1 bp	9.1 bp	19.2 bp	−$19	$1.4M	$400 25x	0.2 bp	0.2 bp	0.2-0.5 bp
Aevo XAU-PERP · live order book, 28 min ago	4,316.4	0.080%/0.050%	5.13 bp	15.2 bp	16.9 bp	32.1 bp	−$32	$117K	$1,000 10x	14.6 bp	11.6 bp	10.1-15.8 bp
ApeX Omni XAUUSDT · live order book, 27 min ago	4,315.6	0.050%/0.020%	5.20 bp	18.0 bp	16.4 bp	34.4 bp	−$34	$916K	$200 50x	22.4 bp	23.5 bp	18.3-29.9 bp
Phemex XAUUSDT · live order book, 3 min ago	4,319.5	0.060%/0.010%	2.08 bp	23.6 bp	29.5 bp	53.1 bp	−$53	$63K	$100 100x	50.9 bp	50.2 bp	35.6-59.0 bp
SunX XAU-USDT · live order book, 9 min ago	4,320.5	0.040%/0.020%	23.48 bp	27.5 bp	29.4 bp	56.9 bp	−$57	$151K	$500 20x	49.2 bp	49.2 bp	49.1-57.8 bp
gTrade (Gains Network) XAU/USD · virtual book (oracle venue), 59 min ago	4,313	0.035%/0.035%	130.01 bp	133.5 bp	133.5 bp	267.0 bp	−$267	$2.7M	$40 250x	260.0 bp	260.0 bp	260.0-260.0 bp
Variational Omni XAU	4,316.5	0.000%/0.000%	1.54 bp	the book does not hold this size
Ondo Perps XAU-USD.P	4,313.8	0.025%/0.020%	—	no order-book sample in the last 90 minutes
GMX GOLD/USD [ETH-USDC]	4,316.5	0.060%/0.040%	—	oracle execution: slippage not modeled, see the exchange's docs
Bullet GOLD-USD	4,316.9	0.040%/0.010%	—	below $100k OI and volume: not sampled
Phoenix GOLD	4,315.7	0.035%/0.005%	—	below $100k OI and volume: not sampled
Hotstuff GOLD-PERP	4,313	0.025%/-0.002%	—	below $100k OI and volume: not sampled
Bluefin GOLD-PERP	4,311	0.035%/0.010%	—	below $100k OI and volume: not sampled
Paradex XAU-USD-PERP	4,315.9	0.020%/0.000%	—	below $100k OI and volume: not sampled
Injective XAU/USDC PERP	4,350.4	0.000%/—	—	below $100k OI and volume: not sampled
Vest GC-PERP	4,349.5	0.010%/0.010%	—	no order-book sample in the last 90 minutes

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.