Today let's talk about the fees of the Binance exchange and the rebates.
First, taking contract trading as an example. Suppose we open a 1000 USDT ETH five-fold contract and then close it at the original price, without calculating the fees, it should be neither a loss nor a gain.
However, according to the basic fee structure of the OKX/Binance exchanges, the maker fee is 0.02%, while the taker fee is 0.05%. Therefore, we can calculate: Maker fee = Contract value * Fee rate = 1000 USDT * 5 * 0.02% = 1 USDT.
Taker fee = Contract value * Fee rate = 1000 USDT * 5 * 0.05% = 2.5 USDT.
Considering that we made two transactions (opening and closing the position), we need to multiply the above fees by 2.
Let's not calculate the 10% fee reduction by using BNB on Binance.
Therefore, the total fees are:
If choosing to be a maker, the fee is: 1 USDT * 2 = 2 USDT. If taking liquidity, the fee is: 2.5 USDT * 2 = 5 USDT. Isn't it felt that the taker fee is 2.5 times that of the maker fee! And, did you notice? For a five-fold contract, the fee is 0.5%, while for a ten-fold contract, the fee has risen to 1%!
To save on fees, here are a few small suggestions:
1. Try to avoid opening high-leverage contracts.
2. Choose limit orders instead of market orders.
3. Enable fee rebates; fee rebates can significantly reduce fees.
