How can I see how much fee I've paid?
First, open the Binance funding contract interface, click on today's realized profit and loss, then click on funding fees and check the fees to see how much you've paid to the exchange in fees.
How is the fee calculated? Generally, it is position value × fee rate = fee.
So what is the position value? It refers to your position, and the fee rate is 0.15% for market orders and 0.12% for limit orders.
For example, if you have 1000 USDT with 10x leverage, then your position value is 10000 USDT.
The fee is 10000 × 0.0005 = 5 USDT; opening and closing a position is 10 USDT. If you do it three times a day, that's 30 USDT. This is just the fee for one day, and if you trade for 22 days, the monthly expense would be 660 USDT.
And the nice hot pot I had yesterday only cost around 20 USDT, which means these fees could allow you to eat hot pot every day. Not to mention that some people frequently open positions, leading to even higher fees.
Many people actually end up losing money not from their trades, but entirely due to the fees.
So it's essential to open a fee rebate, otherwise you're just giving money to the exchange. Once you open it, you can get a portion back to your account, which is like getting some trading funds for free. You can register using my invitation code, and the rebates are returned punctually every Monday. The data is transparent and can be checked at any time. As an old user, I've been doing professional rebates for six years.
