A comprehensive tool to analyze liquidity and slippage across multiple decentralized perpetual exchanges. Get real-time market depth analysis and compare execution costs across different platforms.

• Multi-Exchange Support: Analyze liquidity across 5+ major DEX perpetual platforms

  • Hyperliquid
  • Paradex
  • Extended
  • Lighter
  • Aster

• Comprehensive Slippage Analysis: Test multiple order sizes ($1k, $10k, $100k, $500k)

• Cost Breakdown: See detailed breakdown of:

  • Raw slippage (bps)
  • Taker fees (bps)
  • Total execution cost (bps)
  • Effective spread
  • Orderbook depth used

• Smart Rankings:

  • Ranking by slippage only
  • Ranking by total cost (slippage + fees)

• Interactive CLI: Simple, user-friendly command-line interface

• Node.js (v14 or higher)
• npm

1. Clone the repository:

git clone <your-repo-url>
cd algo-liquidité

2. Install dependencies:

npm install

Simply run the script and it will prompt you for the token:

node slippageTestAll.js

You'll be asked to enter a token ticker:

Enter token ticker (e.g., sui, btc, eth): sui

Pass the token ticker as a command-line argument:

node slippageTestAll.js sui
node slippageTestAll.js btc
node slippageTestAll.js eth

You can specify which exchanges to analyze:

node slippageTestAll.js sui hyperliquid,paradex
node slippageTestAll.js btc extended,lighter,aster

For each exchange, you'll see:

📊 HYPERLIQUID (Taker fee: 4.5 bps)
   Mid: $95000 | Top-of-book spread: 2.1 bps

   Size     │ Levels (B/S) │ Slippage    │ + Fees      │ = Total Cost
   ─────────┼──────────────┼─────────────┼─────────────┼─────────────
   $1k      │ 2/2          │ 0.52 bps    │ 4.5 bps     │ 5.02 bps ✅
   $10k     │ 5/5          │ 2.15 bps    │ 4.5 bps     │ 6.65 bps ✅
   $100k    │ 15/14        │ 8.45 bps    │ 4.5 bps     │ 12.95 bps ✅
   $500k    │ 35/32        │ 25.30 bps   │ 4.5 bps     │ 29.80 bps ⚠️

• Levels (B/S): Number of orderbook levels consumed (Buy/Sell)
• Slippage: Pure price impact in basis points
• Fees: Exchange taker fees
• Total Cost: Combined execution cost
• ✅ = Order fully filled | ⚠️ = Partial fill

The tool provides two types of rankings:

1. By Slippage Only: Best liquidity (ignoring fees)
2. By Total Cost: Best overall execution (including fees)

RANKINGS BY TOTAL COST (Slippage + Fees):

$1k:
  🥇 #1 lighter        0.45 bps (slip: 0.45 + fee: 0)
  🥈 #2 paradex        0.89 bps (slip: 0.89 + fee: 0)
  🥉 #3 hyperliquid    5.02 bps (slip: 0.52 + fee: 4.5)

1. Fetches Orderbooks: Retrieves real-time orderbook data from each exchange's API
2. Calculates Slippage: Simulates market orders of different sizes
3. Measures Impact: Calculates price impact, effective spread, and depth used
4. Adds Fees: Incorporates exchange-specific taker fees
5. Ranks Results: Provides comparative analysis across platforms

The tool supports any token available on the connected exchanges. Common examples:

• BTC
• ETH
• SOL
• SUI
• APT
• ARB
• AVAX
• And many more...

The tool automatically handles different API endpoint formats for each exchange:

• Hyperliquid: Direct token symbol (e.g., BTC)
• Paradex: {TOKEN}-USD-PERP format
• Extended: {TOKEN}-USD format
• Lighter: Symbol matching via market details
• Aster: {TOKEN}USDT format

Contributions are welcome! Please feel free to submit a Pull Request.

MIT License - feel free to use this tool for your trading analysis.

This tool is for informational purposes only. Always verify liquidity conditions in real-time before executing large orders. Past liquidity is not indicative of future liquidity.

For issues or feature requests, please open an issue on GitHub.