Description of handling fee: What is the order entry fee and the order taker fee?
By observing our fee list, you can find that the fee will be differentiated according to the status of the user when placing the order, and different parties will charge different fee rates.
Pending order (Maker)
- Also known as liquidity provider, it means that a trader places an order with a certain quantity and price, but there is no order in the market. If there is an order matching it, the order will remain on the exchange's market, waiting for other users to trade with it.
- Also known as liquidity consumer, it means that a trader checks the existing order in the exchange order depth table order price, actively place a certain number of orders, and immediately fill with existing pending orders, which consumes the liquidity in the market. The order may be a market order or a limit order.
Contract Fee Calculation Formula
U Standard Contract Fee Calculation Method
Fee = Notional Value* Procedure Notional value of the rate = contract quantity * transaction price
For example: the commission of the placing order: 0.02%; the commission of the taker: 0.040% to use the market order to buy 1 BTC BTCUSDT contract:
Notional value = contract quantity * opening price = 1 BTC * 10,104= 10,104
The taker fee needs to be paid: 10,104 * 0.040% = 4.0416 After the price of USDT rises, use a limit order to sell 1 BTC BTCUSD contract :
Notional value = Contract quantity * Closing price = 1 BTC * 11,104= 11,104
Pending order fee to be paid: 11,104 * 0.02% = 2.2208 USDT