2024. Is there anyone who enters the cryptocurrency circle who still doesn’t know about the fee refund?

How to view the total transaction fee

Open your Binance APP → Funds → Contracts → Today’s Profit and Loss → Last Year → Transaction Fees. This way you will know how much fees you have given away in the exchange in the past few years

Other fees for Binance perpetual contracts mainly include: transaction fees, funding rates

Transaction Fees:

Opening and closing positions are divided into maker orders and taker orders, that is, maker and taker

Mainstream platform basic fee standards: maker (maker): 0.02%

Taker (market order): 0.05%

Maker and taker orders, as long as they are not bought or sold at the current price, stop profit and stop loss are all counted as maker (maker order)

To put it simply, you can understand it this way. Manually entered prices are all counted as maker orders, and no price setting is counted as taker orders

Transaction fee = position value × fee rate

For example:

Do 1 contract:

Opening fee 5u, closing fee 5u, totaling 10u

⭕️ Summary: 10x leverage is calculated based on 5 contracts per day

✅ Daily handling fee is: 10*5=50u=400 yuan

✅ Monthly handling fee is: 400*30=12,000 yuan

✅ Annual handling fee is: 12,000*12=144,000

20x leverage is 20,000u, 20,000U*0.05%=10u handling fee

Do 1 contract:

Opening fee is 10u, closing fee is 10u, totaling 20u.

⭕️ Summary: 20x leverage is calculated based on 5 contracts per day

✅ Daily handling fee is: 20*5=100u=800 yuan

✅ Monthly handling fee is: 800*30=24,000 yuan

✅ Annual handling fee is: 24,000*12=288,000

Funding rate:

In addition to transaction fees, perpetual contracts also have a funding rate, but the funding rate is not a fixed value, it is determined according to the difference in the market's long-short ratio

The main function of the funding rate is to balance the market's long-short ratio

Funding rate algorithm: position value × funding rate

When the funding rate is positive

Long orders are deducted from the funding rate according to the position value, and short orders are obtained according to the position value

On the contrary, when the funding rate value is negative, long orders are paid, and short orders are deducted

The funding rate is settled once a day at 00:00, 08:00, and 16:00 (only at the settlement time will the position on hand be charged or deducted)