Fee Calculation

Users are classified into 6 levels, from VIP0 to VIP5, based on their trading volume. The classification is determined by the trading volume over the past 14 days, with different levels corresponding to different transaction fee rates.For detailed rules, please refer to the Fee Schedule.

14-Day Trading Volume

The 14-day trading volume refers to the total trading volume of all cryptocurrency pairs traded in the past 14 days, converted to USDT at the trading price at the time of the transaction. This calculation is performed daily at 07:00 AM (UTC).For example, if a user has traded BTC, XRP, DOGE, SOL, and BCH in the past 14 days, the platform will convert each transaction involving these 5 cryptocurrencies to USDT at the trading price at the time of the transaction. Then, at 07:00 AM (UTC) every day, the cumulative trading volume of the past 14 days will be calculated.

Maker and Taker Orders

A maker order is an order placed by a user at a specific price that is not immediately matched with an existing order in the order book. Instead, it is added to the order book and waits to be filled by an incoming order. For example, if the current best ask price is 1,000 USD, and a user places a buy order at 999 USD, this order will be added to the buy order book and wait for someone to place a sell order at 999 USD to match it. Both the maker and taker will be charged a fee when the order is filled.

Fee Calculation Rules

Transaction fee = Average Transaction Price × Contract Value × Number of Contracts × Fee Rate

Average Transaction Price=∑n([Price1×Volume 1]+⋯+[PriceN×Volume N])/TotalVolume

Example: For BTCUSDT perpetual contracts, with a contract value of 0.0001 BTC, assuming the average transaction price is 100,000 USDT.

Trader A (Maker Fee: 0.02%; Taker Fee: 0.05%) opens/closes 100 contracts at market price (taker).

The trading fee for Trader A = 100,000 × 0.0001 × 100 × 0.05% = 0.5 USDT.

For USDT-margined perpetual contracts, fees are settled in USDT and are deducted immediately from the balance after each transaction.

Liquidation

The liquidation fee is charged using the most conservative Taker fee rate (i.e., 0.05%) across all tiers to ensure that trading costs are covered under all circumstances and to maintain the stable operation of the platform.

Daily Update of Fee Level

The platform is expected to update the latest fee level daily at 07:00AM (UTC).

FAQ

What are taker and maker orders? Why are the fees different for taker and maker orders?A taker order is an order that immediately matches and executes against an existing order in the order book. Because a taker order removes liquidity from the order book, it is typically charged a higher fee, known as the taker fee.A maker order is an order that adds liquidity to the order book by creating a new order that is not immediately filled. Since maker orders contribute to market depth and liquidity, they are often charged a lower fee, known as the maker fee.

Why is there a discrepancy between the profit when holding a position and after closing it?

Unrealized profits refer to gains (or losses) that have not yet been realized, often called floating profits. Realized profits, on the other hand, are the net profits after closing a position, which account for transaction fees and funding costs. The difference between unrealized and realized profits arises from these transaction fees and funding costs.

Realized Profit = Price Difference×Contract Value×∣Number of Contracts∣+Funding Fees (positive or negative)−Transaction Fees

Example: For 100 BTCUSDT perpetual contracts, with a contract value of 0.0001 BTC per contract, an opening price of 100,000 USDT, and a current closing price of 105,000 USDT, Opening Fee: -0.5 USDT, Closing Fee: -0.5 USDT, Funding Fee: -1 USDT.

After closing the position, the realized profit=(105,000−100,000)×0.0001×100−1−0.5−0.5=48 USDT