Execution Cost
What it actually costs to open a position on each venue — the taker fee plus the walk through a live orderbook.
Most venues advertise a fee. That fee is not the price of entering. A market order also walks the orderbook: it eats the best offer, then the next one, and the average price you end up paying sits worse than the one on the screen. On thin books that second part dwarfs the fee.
Cost to enter = taker fee + how far your order moves the price
Taker fee
The published rate, charged once when you cross the book to open.
Slippage
How far the price moves while your order fills. Grows with size; on a deep book it stays near zero.
Measured from mid
We price against the middle of the book, because half the spread is a real cost you pay on entry.
Entry only — closing the position costs again. Figures come from the latest orderbook snapshot we hold for each venue, so they move as the book moves.
Opening $100k of BTC is cheapest on Lighter Robinhood — $6.62. The dearest is Paradex at $1546, 234 times more.
Priced on 46 of 49 venues trading this asset.
| Venue | Market | Vol 24h | OI | Taker fee | Mid | |||
|---|---|---|---|---|---|---|---|---|
 Lighter Robinhooddex | BTC-USDG | $0.24 0.24 bps | $6.62 0.66 bps | $236 2.74 bps | $107M | $22M | 0.0 bps | 76,096.6 |
 Lighterdex | BTC-USDC | $0.46 0.46 bps | $7.71 0.77 bps | $146 1.72 bps | $905M | $151M | 0.0 bps | 76,025.5 |
 MEXCcex | BTC_USDT | $1.01 1.01 bps | $10.59 1.06 bps | $131 1.31 bps | $4695M | $3476M | 1.0 bps | 76,132 |
 WOOFi Prodex | PERP_BTC_USDC | $3.32 3.32 bps | $35.41 3.54 bps | $594 5.94 bps | $8.3M | $1.9M | 3.0 bps | 76,096.3 |
 NADOdex | BTC-PERP | $3.57 3.57 bps | $35.66 3.57 bps | $476 4.76 bps | $192M | $24M | 3.5 bps | 76,095.75 |
 Extendeddex | BTC-USD | $3.16 3.16 bps | $35.84 3.58 bps | $482 4.82 bps | $181M | $46M | 2.5 bps | 75,969.28 |
 edgeX V2dex | BTCUSDC | $3.88 3.88 bps | $39.13 3.91 bps | $432 4.32 bps | $720M | $264M | 3.8 bps | 76,021.55 |
 RiseXdex | BTC-PERP | $4.43 4.43 bps | $44.97 4.50 bps | $1218 12.2 bps | $36M | $13M | 3.0 bps | 76,125.96 |
 Arcusdex | BTC-USD | $4.03 4.03 bps | $45.04 4.50 bps | $519 5.19 bps | $63M | $7.2M | 2.3 bps | 76,160.5 |
 TxFlowdex | BTC | $4.52 4.52 bps | $45.20 4.52 bps | $189 5.41 bps | $28M | $5.5M | 4.5 bps | 76,061.2 |
 Hyperliquiddex | BTC | $4.57 4.57 bps | $45.66 4.57 bps | $549 5.49 bps | $5646M | $2812M | 4.5 bps | 76,090 |
 SoDEXdex | BTC-USD | $4.46 4.46 bps | $46.42 4.64 bps | $227 5.11 bps | $108M | $93M | 4.0 bps | 76,092 |
 Asterdex | BTCUSDT | $4.65 4.65 bps | $46.50 4.65 bps | $508 5.08 bps | $1693M | $451M | 4.0 bps | 76,139.26 |
 Binance Futurescex | BTCUSDT | $5.01 5.01 bps | $50.07 5.01 bps | $190 5.09 bps | $18516M | $8233M | 5.0 bps | 76,134.29 |
 Pionexcex | BTC_USDT_PERP | $5.01 5.01 bps | $50.07 5.01 bps | $501 5.01 bps | $7085M | $107M | 5.0 bps | 76,137.76 |
 grvtdex | BTC_USDT_Perp | $5.01 5.01 bps | $50.07 5.01 bps | $732 7.32 bps | $150M | $192M | 5.0 bps | 76,140.79 |
 OKXcex | BTC-USDT-SWAP | $5.01 5.01 bps | $50.07 5.01 bps | $389 5.07 bps | $9410M | $2101M | 5.0 bps | 76,127.3 |
 Backpackcex | BTC_USDC_PERP | $5.01 5.01 bps | $50.07 5.01 bps | $663 6.63 bps | $180M | $40M | 5.0 bps | 76,068.3 |
 HTXcex | BTC-USDT | $5.01 5.01 bps | $50.15 5.01 bps | $690 6.90 bps | $608M | $2170M | 5.0 bps | 76,152.35 |
 Hibachidex | BTC/USDT-P | $4.59 4.59 bps | $50.98 5.10 bps | $3471 35.6 bps | $8.7M | $980k | 4.5 bps | 76,110.4 |
 BingXcex | BTC-USDT | $5.08 5.08 bps | $51.36 5.14 bps | $576 5.76 bps | $1159M | $983M | 5.0 bps | 76,127.9 |
 Gate.iocex | BTC_USDT | $5.13 5.13 bps | $53.26 5.33 bps | $685 6.85 bps | $7623M | $4985M | 5.0 bps | 76,044.77 |
 Polymarketdex | BTC-USD | $4.68 4.68 bps | $54.55 5.46 bps | $761 7.61 bps | — | $9.8M | 4.0 bps | 76,088 |
 Bybitcex | BTCUSDT | $5.51 5.51 bps | $55.07 5.51 bps | $338 5.97 bps | $6846M | $4283M | 5.5 bps | 76,095.7 |
 ApeXdex | BTC-USDT | $5.69 5.69 bps | $58.20 5.82 bps | $680 6.80 bps | $857M | $120M | 5.0 bps | 76,096.4 |
 Ondodex | BTC-USD.P | $5.44 5.44 bps | $59.29 5.93 bps | $1619 16.8 bps | $14M | $2.9M | 3.5 bps | 76,105 |
 StandXdex | BTC-USD | $4.66 4.66 bps | $59.81 5.98 bps | $781 7.81 bps | $385M | $29M | 4.0 bps | 76,076.08 |
 Hotcoincex | BTCUSDT | $6.01 6.01 bps | $60.07 6.01 bps | $657 6.57 bps | — | $620M | 6.0 bps estimated | 76,132.5 |
 BitMartcex | BTCUSDT | $6.01 6.01 bps | $60.07 6.01 bps | $601 6.01 bps | $9637M | $142M | 6.0 bps | 76,065.64 |
 Toobitcex | BTC-SWAP-USDT | $6.01 6.01 bps | $60.07 6.01 bps | $601 6.01 bps | $8544M | $68M | 6.0 bps | 76,134.9 |
 Bitgetcex | BTCUSDT | $6.01 6.01 bps | $60.07 6.01 bps | $663 6.63 bps | $4018M | $2522M | 6.0 bps | 76,130.8 |
 Bitunixcex | BTCUSDT | $6.01 6.01 bps | $60.07 6.01 bps | $606 6.06 bps | $3080M | — | 6.0 bps | 76,157.5 |
 LBankcex | BTCUSDT | $6.01 6.01 bps | $60.07 6.01 bps | $601 6.01 bps | $481M | — | 6.0 bps | 76,086.5 |
 BloFincex | BTC-USDT | $6.01 6.01 bps | $60.13 6.01 bps | $248 6.12 bps | $444M | $359M | 6.0 bps | 76,041.3 |
 CoinWcex | btc | $6.01 6.01 bps | $60.13 6.01 bps | $608 6.08 bps | — | — | 6.0 bps | 76,092 |
 Phoenixdex | BTC | $3.77 3.77 bps | $63.54 6.35 bps | $1205 12.1 bps | — | $2.1M | 3.5 bps | 75,953 |
 KuCoincex | XBTUSDTM | $6.01 6.01 bps | $72.42 7.24 bps | $588 8.23 bps | $496M | $803M | 6.0 bps | 76,137.2 |
 WEEXcex | BTCUSDT | $8.01 8.01 bps | $80.07 8.01 bps | $629 8.15 bps | $3378M | $10645M | 8.0 bps | 76,129 |
 Bulletdex | BTC-USD | $5.23 5.23 bps | $83.01 8.30 bps | $670 12.9 bps | $2.4M | $221k | 4.0 bps estimated | 76,095 |
 N1dex | BTC | $6.61 6.61 bps | $115 11.5 bps | $837 25.3 bps | $2.3M | $220k | 5.0 bps | 76,088.8 |
 Perpldex | BTC | $10.85 10.8 bps | $142 14.2 bps | $711 46.4 bps | $13M | $904k | 8.8 bps | 76,070.5 |
 dYdXdex | BTC-USD | $7.61 7.61 bps | $219 21.9 bps | $2937 29.4 bps | $7.4M | $15M | 5.0 bps | 76,074.62 |
 Paradexdex | BTC-USD-PERP | $5.87 5.87 bps | $1546 154.6 bps | $13,179 412.5 bps | $4.8M | $4.0M | 0.8 bps | 76,111.32 |
 Variationaldexquote | BTC | $0.56 0.56 bps | $5.70 0.57 bps | $260 2.61 bps | $361M | $150M | 0.0 bps | 75,973.73 |
 Bullpendexmirrored | BTC | $4.57 4.57 bps | $45.66 4.57 bps | $549 5.49 bps | $5646M | $2812M | 4.5 bps | 76,089.1 |
 Pacificadexcapped | BTC | $4.25 4.25 bps | $13.53 5.35 bps only $25k of $100k filled | — book too thin to price | $388M | $35M | 4.0 bps | 76,126 |
Lighter Robinhooddexfee 0.0 bps
$6.62
0.66 bps
$10k: $0.24$1.0M: $236
Lighterdexfee 0.0 bps
$7.71
0.77 bps×1.2
$10k: $0.46$1.0M: $146
MEXCcexfee 1.0 bps
$10.59
1.06 bps×1.6
$10k: $1.01$1.0M: $131
WOOFi Prodexfee 3.0 bps
$35.41
3.54 bps×5.4
$10k: $3.32$1.0M: $594
NADOdexfee 3.5 bps
$35.66
3.57 bps×5.4
$10k: $3.57$1.0M: $476
Extendeddexfee 2.5 bps
$35.84
3.58 bps×5.4
$10k: $3.16$1.0M: $482
edgeX V2dexfee 3.8 bps
$39.13
3.91 bps×5.9
$10k: $3.88$1.0M: $432
RiseXdexfee 3.0 bps
$44.97
4.50 bps×6.8
$10k: $4.43$1.0M: $1218
Arcusdexfee 2.3 bps
$45.04
4.50 bps×6.8
$10k: $4.03$1.0M: $519
TxFlowdexfee 4.5 bps
$45.20
4.52 bps×6.8
$10k: $4.52$1.0M: $189
Hyperliquiddexfee 4.5 bps
$45.66
4.57 bps×6.9
$10k: $4.57$1.0M: $549
SoDEXdexfee 4.0 bps
$46.42
4.64 bps×7.0
$10k: $4.46$1.0M: $227
Asterdexfee 4.0 bps
$46.50
4.65 bps×7.0
$10k: $4.65$1.0M: $508
Binance Futurescexfee 5.0 bps
$50.07
5.01 bps×7.6
$10k: $5.01$1.0M: $190
Pionexcexfee 5.0 bps
$50.07
5.01 bps×7.6
$10k: $5.01$1.0M: $501
grvtdexfee 5.0 bps
$50.07
5.01 bps×7.6
$10k: $5.01$1.0M: $732
OKXcexfee 5.0 bps
$50.07
5.01 bps×7.6
$10k: $5.01$1.0M: $389
Backpackcexfee 5.0 bps
$50.07
5.01 bps×7.6
$10k: $5.01$1.0M: $663
HTXcexfee 5.0 bps
$50.15
5.01 bps×7.6
$10k: $5.01$1.0M: $690
Hibachidexfee 4.5 bps
$50.98
5.10 bps×7.7
$10k: $4.59$1.0M: $3471
BingXcexfee 5.0 bps
$51.36
5.14 bps×7.8
$10k: $5.08$1.0M: $576
Gate.iocexfee 5.0 bps
$53.26
5.33 bps×8.0
$10k: $5.13$1.0M: $685
Polymarketdexfee 4.0 bps
$54.55
5.46 bps×8.2
$10k: $4.68$1.0M: $761
Bybitcexfee 5.5 bps
$55.07
5.51 bps×8.3
$10k: $5.51$1.0M: $338
ApeXdexfee 5.0 bps
$58.20
5.82 bps×8.8
$10k: $5.69$1.0M: $680
Ondodexfee 3.5 bps
$59.29
5.93 bps×9.0
$10k: $5.44$1.0M: $1619
StandXdexfee 4.0 bps
$59.81
5.98 bps×9.0
$10k: $4.66$1.0M: $781
Hotcoincexfee 6.0 bpsestimated
$60.07
6.01 bps×9.1
$10k: $6.01$1.0M: $657
BitMartcexfee 6.0 bps
$60.07
6.01 bps×9.1
$10k: $6.01$1.0M: $601
Toobitcexfee 6.0 bps
$60.07
6.01 bps×9.1
$10k: $6.01$1.0M: $601
Bitgetcexfee 6.0 bps
$60.07
6.01 bps×9.1
$10k: $6.01$1.0M: $663
Bitunixcexfee 6.0 bps
$60.07
6.01 bps×9.1
$10k: $6.01$1.0M: $606
LBankcexfee 6.0 bps
$60.07
6.01 bps×9.1
$10k: $6.01$1.0M: $601
BloFincexfee 6.0 bps
$60.13
6.01 bps×9.1
$10k: $6.01$1.0M: $248
CoinWcexfee 6.0 bps
$60.13
6.01 bps×9.1
$10k: $6.01$1.0M: $608
Phoenixdexfee 3.5 bps
$63.54
6.35 bps×9.6
$10k: $3.77$1.0M: $1205
KuCoincexfee 6.0 bps
$72.42
7.24 bps×11
$10k: $6.01$1.0M: $588
WEEXcexfee 8.0 bps
$80.07
8.01 bps×12
$10k: $8.01$1.0M: $629
Bulletdexfee 4.0 bpsestimated
$83.01
8.30 bps×13
$10k: $5.23$1.0M: $670
N1dexfee 5.0 bps
$115
11.5 bps×17
$10k: $6.61$1.0M: $837
Perpldexfee 8.8 bps
$142
14.2 bps×22
$10k: $10.85$1.0M: $711
dYdXdexfee 5.0 bps
$219
21.9 bps×33
$10k: $7.61$1.0M: $2937
Paradexdexfee 0.8 bps
$1546
154.6 bps×234
$10k: $5.87$1.0M: $13,179
Variationaldexfee 0.0 bps
quote$5.70
0.57 bps
$10k: $0.56$1.0M: $260
Bullpendexfee 4.5 bps
mirrored$45.66
4.57 bps×6.9
$10k: $4.57$1.0M: $549
Pacificadexfee 4.0 bps
capped$13.53
5.35 bps×2.0
only $25k of $100k filled
$10k: $4.25$1.0M: —
Entry cost only, from the latest orderbook snapshot per venue. Fees are the base tier, before token or volume discounts.