{
  "benchmark": "B2-cost-to-trade",
  "asset": "BTC",
  "description": "Daily total one-way taker cost (bps) to market-buy $10,000 of BTC per US crypto exchange: published taker fee + measured half-spread + measured slippage. One record per UTC day.",
  "unit": "basis_points",
  "primary_size_usd": 10000,
  "generated_utc": "2026-07-16T14:08:34.274715+00:00",
  "history": [
    {
      "date": "2026-07-10",
      "timestamp_utc": "2026-07-10T22:08:29.028487+00:00",
      "region": "us-east",
      "venues": {
        "coinbase": {
          "total_cost_bps": 60.19,
          "half_spread_bps": 0.001,
          "label": "Coinbase"
        },
        "kraken": {
          "total_cost_bps": 80.38,
          "half_spread_bps": 0.297,
          "label": "Kraken"
        },
        "gemini": {
          "total_cost_bps": 120.0,
          "half_spread_bps": 0.001,
          "label": "Gemini"
        },
        "bitstamp": {
          "total_cost_bps": 40.0,
          "half_spread_bps": 0.001,
          "label": "Bitstamp"
        },
        "binanceus": {
          "total_cost_bps": 4.16,
          "half_spread_bps": 0.019,
          "label": "Binance.US"
        }
      }
    },
    {
      "date": "2026-07-11",
      "timestamp_utc": "2026-07-11T22:08:28.414390+00:00",
      "region": "us-east",
      "venues": {
        "coinbase": {
          "total_cost_bps": 60.22,
          "half_spread_bps": 0.001,
          "label": "Coinbase"
        },
        "kraken": {
          "total_cost_bps": 80.72,
          "half_spread_bps": 0.008,
          "label": "Kraken"
        },
        "gemini": {
          "total_cost_bps": 120.26,
          "half_spread_bps": 0.001,
          "label": "Gemini"
        },
        "bitstamp": {
          "total_cost_bps": 40.03,
          "half_spread_bps": 0.001,
          "label": "Bitstamp"
        },
        "binanceus": {
          "total_cost_bps": 2.72,
          "half_spread_bps": 0.723,
          "label": "Binance.US"
        }
      }
    },
    {
      "date": "2026-07-12",
      "timestamp_utc": "2026-07-12T22:08:43.407668+00:00",
      "region": "us-east",
      "venues": {
        "coinbase": {
          "total_cost_bps": 60.0,
          "half_spread_bps": 0.001,
          "label": "Coinbase"
        },
        "kraken": {
          "total_cost_bps": 80.84,
          "half_spread_bps": 0.008,
          "label": "Kraken"
        },
        "gemini": {
          "total_cost_bps": 121.02,
          "half_spread_bps": 1.017,
          "label": "Gemini"
        },
        "bitstamp": {
          "total_cost_bps": 40.0,
          "half_spread_bps": 0.001,
          "label": "Bitstamp"
        },
        "binanceus": {
          "total_cost_bps": 4.37,
          "half_spread_bps": 0.496,
          "label": "Binance.US"
        }
      }
    },
    {
      "date": "2026-07-13",
      "timestamp_utc": "2026-07-13T22:08:33.256872+00:00",
      "region": "us-east",
      "venues": {
        "coinbase": {
          "total_cost_bps": 60.21,
          "half_spread_bps": 0.001,
          "label": "Coinbase"
        },
        "kraken": {
          "total_cost_bps": 80.77,
          "half_spread_bps": 0.008,
          "label": "Kraken"
        },
        "gemini": {
          "total_cost_bps": 121.26,
          "half_spread_bps": 0.937,
          "label": "Gemini"
        },
        "bitstamp": {
          "total_cost_bps": 40.0,
          "half_spread_bps": 0.001,
          "label": "Bitstamp"
        },
        "binanceus": {
          "total_cost_bps": 2.77,
          "half_spread_bps": 0.77,
          "label": "Binance.US"
        }
      }
    },
    {
      "date": "2026-07-14",
      "timestamp_utc": "2026-07-14T22:08:33.950179+00:00",
      "region": "us-east",
      "venues": {
        "coinbase": {
          "total_cost_bps": 60.04,
          "half_spread_bps": 0.001,
          "label": "Coinbase"
        },
        "kraken": {
          "total_cost_bps": 80.01,
          "half_spread_bps": 0.008,
          "label": "Kraken"
        },
        "gemini": {
          "total_cost_bps": 120.02,
          "half_spread_bps": 0.001,
          "label": "Gemini"
        },
        "bitstamp": {
          "total_cost_bps": 40.21,
          "half_spread_bps": 0.001,
          "label": "Bitstamp"
        },
        "binanceus": {
          "total_cost_bps": 3.21,
          "half_spread_bps": 1.207,
          "label": "Binance.US"
        }
      }
    },
    {
      "date": "2026-07-15",
      "timestamp_utc": "2026-07-15T22:08:30.890763+00:00",
      "region": "us-east",
      "venues": {
        "coinbase": {
          "total_cost_bps": 60.02,
          "half_spread_bps": 0.001,
          "label": "Coinbase"
        },
        "kraken": {
          "total_cost_bps": 80.05,
          "half_spread_bps": 0.008,
          "label": "Kraken"
        },
        "gemini": {
          "total_cost_bps": 120.0,
          "half_spread_bps": 0.001,
          "label": "Gemini"
        },
        "bitstamp": {
          "total_cost_bps": 40.0,
          "half_spread_bps": 0.001,
          "label": "Bitstamp"
        },
        "binanceus": {
          "total_cost_bps": 3.2,
          "half_spread_bps": 0.299,
          "label": "Binance.US"
        }
      }
    },
    {
      "date": "2026-07-16",
      "timestamp_utc": "2026-07-16T14:08:33.532824+00:00",
      "region": "us-east",
      "venues": {
        "coinbase": {
          "total_cost_bps": 61.22,
          "half_spread_bps": 0.001,
          "label": "Coinbase"
        },
        "kraken": {
          "total_cost_bps": 81.09,
          "half_spread_bps": 0.008,
          "label": "Kraken"
        },
        "gemini": {
          "total_cost_bps": 120.19,
          "half_spread_bps": 0.001,
          "label": "Gemini"
        },
        "bitstamp": {
          "total_cost_bps": 40.16,
          "half_spread_bps": 0.001,
          "label": "Bitstamp"
        },
        "binanceus": {
          "total_cost_bps": 4.47,
          "half_spread_bps": 0.986,
          "label": "Binance.US"
        }
      }
    }
  ]
}