Transaction Fee
The calculation of transaction fees is related to whether limit orders (maker) or market orders (taker) are used during opening and closing positions. On mainstream trading platforms, the basic fee rate for limit orders (maker) is 0.02%, while the basic fee rate for market orders (taker) is 0.05%. Generally, as long as the trade is not executed immediately at the current market price, such as setting stop-loss or take-profit orders, these operations are classified as limit orders (maker). It can be simply understood that manually entering the trading price belongs to limit order operations, while executing trades directly at market price without setting a price belongs to market order operations.
The formula for calculating transaction fees is: Transaction Fee = Position Value × Fee Rate. Here, the Position Value is calculated as the number of coins multiplied by the opening price, which is also equivalent to the principal multiplied by the leverage multiplier. Taking an example of trading Bitcoin with a principal of 600 USDT and 100x leverage, the position value would be 60,000 USDT (however, it should be noted that high leverage involves significant risk and is not recommended). If the position is opened using the market order method, the fee would be 60,000 USDT × 0.05% = 30 USDT; when closing the position, if using the current market price (which is considered a market order), the fee would similarly be 60,000 USDT × 0.05% = 30 USDT. If choosing to close the position using a limit order, the fee would be 60,000 USDT × 0.02% = 12 USDT. Therefore, completing a Bitcoin contract transaction incurs a fee expenditure between 24 USDT and 60 USDT. For users who frequently trade over the long term, this fee can accumulate to a significant expense.
Funding Rate
In addition to transaction fees, perpetual contracts also have a special fee known as the funding rate. The funding rate is not fixed and is determined by the differences in the market's long and short position ratios, primarily aimed at balancing the market's long and short forces. The calculation for the funding rate is: Position Value × Funding Rate.
When the funding rate is positive, users holding long positions will have the corresponding funding rate deducted from their position value, while users holding short positions will receive this funding based on their position value; conversely, when the funding rate is negative, users holding long positions will receive funding, while users holding short positions will need to deduct the corresponding amount. The funding rate is settled daily at 00:00, 08:00, and 16:00; only if positions are still held at these settlement times will there be any funding charges or deductions.