MARKET COMPARE · SPREAD & LIQUIDITY

Execution liquidity,
benchmarked at fixed size.

Base, $1K and $100K are the primary comparison points. $1M is a stress test, not a suggested position size.

CONNECTINGMarket REST 5s · streams + Nado/N1 depth snapshots
Selected market
—0 tracked venues · live execution benchmarkPERPETUAL
Tightest base spread
—Waiting for executable quotesBASE
Best $100K liquidity
—No complete $100K quote yet$100K
Best cross-DEX entry
—Need two venuesBASE · BEFORE FEES
Liquidity benchmark, not a fill guarantee.RISEx/Pacifica/TxFlow/Lighter RH/Arcus/QFEX/XYZ use streaming orderbooks. Nado and N1 use first-party public depth snapshots with short polling; Variational uses its public fixed-size indicative RFQ ladder. Unsupported or insufficient depth is left blank rather than estimated.
VenueSourceBase$1K$100K$1M StressFreshness
Cross-DEX entry benchmarkLowest executable buy vs highest executable sell across different venues. Variational uses the latest public indicative RFQ snapshot regardless of age.
Base—No two-venue quote
$1K—No two-venue quote
$100K—No two-venue quote
$1M Stress—No two-venue quote