What is the cost of developing a crypto derivatives exchange platform?

Recently, one of my contacts shared their experience with me about developing a crypto derivatives exchange platform. They told me that when they first started exploring the idea, they reached out to several developers, but the pricing they received was all over the place. Some quoted low, others extremely high, and it left them completely unsure about what was realistic.

They finally realized that the cost really depends on several factors, like the trading features, liquidity setup, complexity of smart contracts, supported assets, and security protocols included in the build. Based on their findings, the development cost usually ranges from $10,000 to $100,000, depending on how advanced and customized the platform needs to be.