This is a detailed guide to trading fees on Binance, including the main types of fees and how to calculate them, to help you better understand how the exchange works and optimize your trading costs.
If you don't have a Binance account yet, register here to get the maximum discount on Binance transaction fees.
1. Fees on Binance
On Binance, trading fees are divided into several categories, depending on the service you use:
Spot Trading Fee: Applies to regular cryptocurrency trading.
Futures Trading Fee: Applicable to derivatives trading such as Binance Futures.
Deposit and Withdrawal Fees: Fees when depositing or withdrawing cryptocurrencies from Binance.
P2P Trading Fees: Direct trading between users via Binance's P2P platform.
2. Spot Trading Fee (Regular Trading)
2.1 Maker and Taker Mechanism
Maker: Someone who creates trading orders that are not executed immediately, usually "limit" orders. When you create liquidity for the market, you are considered a maker.
Taker: Someone who executes orders immediately, usually "market" orders. When you take liquidity from the market, you are a taker.
2.2 How Spot trading fees are calculated
Binance trading fees depend on your account level. These levels are determined by your 30-day trading volume and the amount of BNB you hold. Binance offers a fee discount when you use BNB to pay for trading fees.
Basic transaction fee (Level 0):
Maker: 0.10%
Taker: 0.10%
For example:
If you buy 1 BTC for $25,000, the transaction fee will be:
Maker: 0.10% * 25.000 = 25 USD
Taker: 0.10% * 25.000 = 25 USD
2.3 Reduced fees when using BNB
If you use BNB to pay trading fees, you will get a discount. Currently, Binance offers a 25% discount on Spot trades if you use BNB.
For example:
Taker fee when using BNB will be 0.10% * (1 - 25%) = 0.075%.
If you buy 1 BTC for $25,000 and pay with BNB, the fee will be 0.075% * 25,000 = $18.75.
2.4 VIP Level
Binance has a VIP level system from VIP 0 to VIP 9, based on:
Trading volume over the last 30 days (in BTC).
BNB Balance.
The higher the level, the lower the transaction fee.
3. Futures Transaction Fees
Binance Futures has a separate fee system for Maker and Taker, similar to Spot trading, but fees are generally lower.
Basic Futures Trading Fees (Level 0):
Maker: 0.02%
Taker: 0.04%
Reduced fees when using BNB
Similar to Spot trading, you can also reduce Futures fees by paying with BNB. Currently, Binance offers a 10% discount on Futures fees when paying with BNB.
4. Deposit and withdrawal fees
Deposit Fee:
Binance does not charge any cryptocurrency deposit fees.
Withdrawal Fee:
Withdrawal fees depend on the cryptocurrency you want to withdraw and the blockchain network you use. Each coin will have different fees and minimum withdrawal limits.
Example of withdrawal fees for some popular coins:
BTC: Withdrawal fee ~ 0.0005 BTC
ETH: Withdrawal fee ~ 0.0012 ETH
BNB: Withdrawal fee ~ 0.0002 BNB
You should check specifically on Binance's Withdrawal Fees page for updated fees for each asset.
5. P2P transaction fees
When trading through Binance's P2P platform, buyers do not incur any fees. However, sellers may be charged a small fee when creating a sell order, depending on the country and payment method.
6. How to optimize trading fees on Binance
Hold BNB in ââyour account: Pay trading fees with BNB to get a discount (25% for Spot, 10% for Futures).
Increase trading volume: The more you trade, the higher your VIP level will be and you will receive better trading fee incentives.
Choose the right time to trade: Avoid trading when the market has low liquidity, as this may result in you paying higher Taker fees due to slippage.
Keep an eye out for promotions: Binance regularly offers discounts or even free trading for certain trading pairs.
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