# Fee Calculation

Users are classified into **six tiers (VIP0–VIP5)** based on their **rolling 14-day trading volume**. Each tier corresponds to a specific **maker fee** and **taker fee** as defined in the **Fee Schedule**.

### 14-Day Trading Volume

The **14-day trading volume** is the aggregated notional trading volume executed by a user over the most recent **14 days**, across all supported trading pairs. Each fill is converted to **USDT notional** using the **execution price at the time of the trade**. The rolling total is recalculated **daily at 07:00 (UTC)**.

Example: If a user trades BTC, XRP, DOGE, SOL, and BCH within the past 14 days, each fill is converted to USDT notional at its respective execution price. At **07:00 (UTC)** each day, the platform recomputes the cumulative notional volume over the latest 14-day window.

### Maker and Taker Orders

A **maker order** is a limit order that is **not immediately matched** and is therefore posted to the order book, **adding liquidity**. A **taker order** is an order that **immediately matches** against existing liquidity, **removing liquidity** from the order book. Fees are assessed upon execution, using the applicable **maker/taker fee rate** for the user’s current tier.

### Fee Calculation Rules

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

**Average Transaction Price = Σ(Priceᵢ × Volumeᵢ) / Total Volume**

Example: For **BTCUSDT** perpetual contracts with a **contract value of 0.0001 BTC** per contract, assume 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**).

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 **deducted immediately** from the available balance after each execution.

### Liquidation

A **liquidation fee** is charged using the **most conservative taker fee rate** (i.e., **0.05%**) across all tiers. This approach ensures costs are covered under stressed market conditions and supports stable platform operation.

### Daily Update of Fee Level

The platform updates each user’s latest **fee tier** on a **daily** basis at **07:00 (UTC)**, based on the rolling 14-day trading volume.

### FAQ

**Q: What are maker and taker orders? Why are the fees different?**\
A: A taker order executes immediately against existing orders and removes liquidity, so it is typically charged a higher fee (taker fee). A maker order posts to the order book and adds liquidity, so it is typically charged a lower fee (maker fee).

**Q: Why can the PnL shown while holding a position differ from the PnL after closing?**\
A: Unrealized PnL reflects mark-to-market gains/losses before closure. Realized PnL is the net result after closing, accounting for transaction fees and funding payments. The difference commonly arises from these costs.

**Realized PnL = Price Difference × Contract Value × |Number of Contracts| + Funding Fees (±) − Transaction Fees**

Example: For **100 BTCUSDT** perpetual contracts (contract value **0.0001 BTC** per contract), opening price **100,000 USDT**, closing price **105,000 USDT**, Opening Fee **−0.5 USDT**, Closing Fee **−0.5 USDT**, Funding Fee **−1 USDT**:

Realized PnL = (105,000 − 100,000) × 0.0001 × 100 − 1 − 0.5 − 0.5 = **48 USDT**


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