Skip to content
StockToken

What a ticket actually costs

Enter an amount and a ticker. For each issuer's token you get the number of tokens, the venue's published trading fee, the measured gap against the share, and a separate line for the part of the cost the venue keeps inside its quote and does not publish. A calculator that shows one “total fee” number for all three venues would be inventing two of them.

How the arithmetic works

Tokens received = amount ÷ token price. Known trading fee = the percentage the venue publishes, applied to the amount. Gap cost = tokens received × (token price − share close), which is what the token costs you relative to holding the same exposure in the share itself.

What is not in the number: the spread or mark-up a venue builds into its quote without publishing a size (Kraken and Ondo both do this), network gas for a self-custody transfer, the withdrawal fee, and the difference between a 24/7 token market and an exchange that is closed. Those are shown as unknown, not as zero.

Why the gap is not a fee

A token can trade above or below the last share close because it trades when the exchange is shut, because the issuer's quote includes its own mark-up, or — for Ondo's total-return tokens — because dividends are reinvested into the token and lift its price over the raw share. Gaps beyond ±40% are corporate actions (splits, display multipliers) and are excluded here. The spreads page shows both bands.