Entry cost

ZHIPU marketsRWA

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

Asset

Cheapest round trip on $10kBinance20.3 bp

You pay, in and out−$20

Second cheapest costs+$4.14 more

Venues that fill it11of 17

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
Binance ZHIPUUSDT · live order book, 6 min agocheapest	99.282	0.050%/0.020%	0.50 bp	10.3 bp	10.0 bp	20.3 bp	−$20	$1.7M	$400 25x	11.7 bp	11.7 bp	7.4-18.9 bp
Lighter ZHIPU · live order book, 38 min ago	99.370	0.000%/0.000%	9.54 bp	12.1 bp	12.4 bp	24.4 bp	−$24	$321K	$1,000 10x	60.6 bp	93.1 bp	77.5-114.7 bp
tradeXYZ xyz:ZHIPU · live order book, 3 min ago	99.298	0.090%/0.030%	2.43 bp	13.8 bp	12.7 bp	26.5 bp	−$26	$36K	$1,000 10x	9.2 bp	9.3 bp	5.3-14.8 bp
OKX ZHIPU-USDT-SWAP · live order book, 2 min ago	99.440	0.050%/0.020%	1.01 bp	16.9 bp	14.8 bp	31.6 bp	−$32	$209K	$400 25x	15.3 bp	15.2 bp	9.5-20.9 bp
HTX ZHIPU-USDT · live order book, 56 min ago	99.220	0.060%/0.020%	6.43 bp	18.9 bp	17.5 bp	36.4 bp	−$36	$195K	$500 20x	17.8 bp	19.8 bp	14.1-30.8 bp
Gate ZHIPU_USDT · live order book, 2 min ago	99.360	0.075%/0.020%	5.56 bp	20.3 bp	17.0 bp	37.3 bp	−$37	$2.1M	$200 50x	16.9 bp	15.2 bp	10.7-21.8 bp
Bitget ZHIPUUSDT · live order book, 1 min ago	99.430	0.060%/0.020%	3.52 bp	27.0 bp	32.3 bp	59.2 bp	−$59	$298K	$500 20x	23.3 bp	23.0 bp	16.7-35.0 bp
edgeX ZHIPUUSDC · live order book, 55 min ago	98.802	0.045%/0.040%	12.88 bp	21.6 bp	42.3 bp	63.9 bp	−$64	$57K	$1,000 10x	173.2 bp	171.4 bp	116.7-175.4 bp
Bybit ZHIPUUSDT · live order book, 4 min ago	99.370	0.055%/0.020%	6.57 bp	41.2 bp	35.1 bp	76.3 bp	−$76	$223K	$400 25x	72.1 bp	71.6 bp	53.8-99.7 bp
KuCoin ZHIPUUSDTM · live order book, 7 min ago	99.370	0.060%/0.020%	18.50 bp	54.6 bp	43.3 bp	97.9 bp	−$98	$31K	$500 20x	84.7 bp	84.6 bp	71.1-106.2 bp
SunX ZHIPU-USDT · live order book, 46 min ago	99.410	0.040%/0.020%	31.72 bp	110.6 bp	136.7 bp	247.3 bp	−$247	$16K	$1,000 10x	237.8 bp	237.7 bp	235.7-241.3 bp
Aster ZHIPUUSDT	99.202	0.040%/0.000%	—	below $100k OI and volume: not sampled
Ondo Perps ZHIPU-USD.P	99.070	0.025%/0.020%	—	below $100k OI and volume: not sampled
SoDEX ZHIPU-USD	99.280	0.040%/0.012%	—	below $100k OI and volume: not sampled
Nado ZHIPU-PERP	99.232	0.035%/0.010%	—	below $100k OI and volume: not sampled
Orderly PERP_ZHIPU_USDC_mythos	99.280	0.030%/0.000%	—	below $100k OI and volume: not sampled
Aevo ZHIPU-PERP	99.341	0.080%/0.050%	—	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.