Recently, many people have been confused about the handling fee at the square, with many unknowingly paying tens of thousands of USDT without understanding what happened. Today, I will explain in detail the fee charging rules on Binance.

1. First, let's clarify the difference between market orders and limit orders.

A limit order is a type of order where you set a price at which you want to buy or sell an asset. It means the price has not yet reached your desired level, so you place a limit order and wait for the price to reach your set point for the transaction to occur; otherwise, it will not execute. A market order, on the other hand, is when you buy or sell an asset at the current market price.

2. Now that we understand the difference between market orders and limit orders, let's look at the fee rates. You can see the fee rates marked in red in the image below, which are 0.02% and 0.05% if we do not consider the BNB discount. For example, if you open a Bitcoin contract of 100 USDT at 100x leverage, your position will be 10,000 USDT, which means your limit order transaction fee will be 2 USDT, and the market order fee will be 5 USDT. Note that the handling fee is charged in two parts: once when opening the position and once when closing it. For instance, I often open positions with limit orders at the market price, and for closing positions, I usually use market orders for quick execution, so my total handling fee is 2 + 5, which is 7 USDT.

Another point to note is that setting limit orders for profit-taking or stop-loss is also considered a market order, which is unavoidable because we close positions for quick execution. If you use a limit order and the price moves too quickly, it might skip your set price, and you may not be able to execute the trade, which can lead to liquidation. I have tested this myself several times, and the price has skipped my set point. If it does not return, the trade cannot be executed, which could lead to continuous losses, potentially resulting in liquidation if you are not careful.

3. Now that we know how the handling fee is charged, let's talk about how to save on handling fees. The image shows that using BNB for fee deduction can reduce fees by 10%. This operation method involves purchasing some BNB in spot trading, transferring it to the contract wallet, and then checking the option to settle fees with BNB. Additionally, you can enable fee rebate, which allows you to receive a portion of the handling fees back, typically in the range of 20% to 30%. If you need assistance, feel free to contact me; I'm online regularly and absolutely reliable.