Other fees for Binance perpetual contracts mainly include: transaction fees, funding rates

Transaction Fees:

Opening and closing positions are divided into placing orders and taking orders, that is, makers and takers

Basic fee standards for mainstream platforms: maker (order placement): 0.02%

Taker (market order): 0.05%

Maker orders and taker orders, as long as they are not current price buy or sell, take profit or stop loss, are considered maker orders.

To put it simply, manually inputting prices is considered a pending order, and those without setting prices are considered a taker order.

Transaction fee = position value × fee rate

For example: with a principal of 600U and a leverage of 100x, the position value is 60,000U (this is just an example, high leverage is not recommended)

Position value = number of coins * opening price (principal × leverage multiple)

Take the above as an example

60000U×0.05%=30U，

Therefore, the transaction fee for opening a position and trading one Bitcoin cannot be ignored, plus the transaction fee for closing a position, closing a position at the current price and closing a position with a pending order.

Closing position at current price: 60000U×0.05%=30U

Closing pending orders: 60000U×0.02%=12U

Therefore, for a completed contract transaction, the transaction fee for one Bitcoin is 24U-60U. This is just the transaction fee, and the transaction is long-term, and the accumulated transaction fee expenditure is also a big expense.

Funding Rates:

In addition to transaction fees, perpetual contracts also have a funding rate, but the funding rate is not a fixed value. It is determined by the difference in the market's long-short ratio.

The main purpose of the funding rate is to balance the long-short ratio in the market

Funding rate calculation method: Position value × funding rate

When the funding rate is positive

For long orders, the funding rate is deducted according to the position value, and for short orders, the funding rate is obtained according to the position value.

On the contrary, when the funding rate value is negative, long positions will earn money, and short positions will lose money.

The funding rate is settled once a day at 00:00, 08:00, and 16:00 (only at the settlement time will the positions on hand be charged or deducted)