Why is the transaction fee for #加密市场盘整 so high?

1. Because your position is large,

the transaction fee is calculated based on the market value of your position, not just on the principal amount.

2. You are using a market order.

Market orders incur a higher fee than limit orders.

Regular users: Market order: 0.05%, Limit order: 0.02%. Notice that the rate for market orders is higher than for limit orders. Market orders take away liquidity and reduce trading depth. Exchanges generally encourage limit orders. Therefore, in the future, when opening a position, use limit orders to save on fees.

3. Commission from the exchange.

Why can some people enjoy ultra-low fees? The reason is that besides using limit orders, they can also receive rebates on their transaction fees for each order. The costs incurred after each position is opened will be returned to your account in various ways.

The logic is: to promote the market, exchanges will give up part of the user fees to attract more users. But exchanges cannot personally engage, so they collaborate with KOLs (Key Opinion Leaders). Only users who are invited through a KOL's unique link or invitation code can enjoy this benefit.

Now you understand, the high transaction fee is due to your lack of understanding of the platform's fee rules. Otherwise, you could significantly reduce your fee expenses.

Open the Binance APP - Funds - Contracts - Today's Profit and Loss - Funding Fees and Trading Fees.

You will be able to see your transaction fees for the past year.