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When trading futures, many people only focus on profits and losses while ignoring the hidden cost of trading fees. Don't underestimate fees; with frequent trading, accumulated fees can become a significant expense. You can find the detailed fee schedule on the official Binance website, and understanding it in advance can save you a lot of money. You can also see your current fee tier in the user center by opening the official Binance App. Apple users should first refer to the iOS installation guide to get the App installed.
Basic Structure of Binance Futures Fees
Binance futures trading fees are divided into two types: Maker fees and Taker fees.
A Maker is when you place a limit order that goes on the order book and waits for someone else to fill it. Your order adds liquidity to the market, so you are acting as a "market maker" and your fee is relatively lower.
A Taker is when you place a market order, or your limit order is filled immediately. Your order "takes" liquidity away from the order book, so your fee is higher than that of a Maker.
Standard Rates
For regular users (VIP 0 tier), the standard rates for Binance USDT perpetual futures are: Maker 0.02%, Taker 0.05%.
What does this mean? Suppose you use 10x leverage, invest 1,000 USDT in margin, and open a 10,000 USDT position. If it's a Taker order, the opening fee is 10,000 × 0.05% = 5 USDT. You have to pay it again when closing the position, so the total fee for opening and closing is 10 USDT, which is 1% of your margin.
If you make 10 such trades a day, the fees alone will cost you 100 USDT, equivalent to 10% of your principal. This is why frequent traders need to pay special attention to fees.
How to Reduce Fees
Use BNB to Deduct Fees
In Binance futures trading, you can choose to use BNB to pay for trading fees and enjoy a 10% discount. To do this, simply turn on the "Use BNB to pay for fees" switch in the futures trading settings.
Once enabled, the Maker rate drops from 0.02% to 0.018%, and the Taker rate drops from 0.05% to 0.045%. It might not look like much, but it adds up to significant savings over the long run.
Make sure your futures account has a sufficient BNB balance to pay the fees. If your BNB balance is insufficient, the system will automatically deduct the fees in USDT, and you won't get the discount.
Upgrade VIP Level
Binance assigns VIP levels based on your trading volume over the past 30 days. The higher the trading volume, the higher the VIP level, and the lower the fees.
VIP 0 (Regular User): Maker 0.02%, Taker 0.05%. VIP 1 (30-day trading volume ≥ 15 million USDT): Maker 0.016%, Taker 0.04%. Rates gradually decrease from VIP 2 to VIP 9, with the highest level, VIP 9, having a Maker rate of only 0.01% and a Taker rate of 0.03%.
For most regular users, reaching high VIP tiers is not very realistic, but if your trading volume is genuinely large, the VIP discounts are highly substantial.
Use Limit Orders Instead of Market Orders
Try to use limit orders to open and close positions. The Maker fee for limit orders is less than half the Taker fee for market orders. Although a limit order might not be filled immediately, the saved fees are real money.
Of course, sometimes a limit order might miss the market move if it isn't placed perfectly, so you need to weigh this based on the situation. When executing an emergency stop-loss, you should still use a market order; you shouldn't risk missing a stop-loss just to save on fees.
Pay Attention to Binance Promotional Events
Binance periodically launches fee discount promotions, such as zero fees for specific trading pairs or trading rebates for new users. Pay attention to Binance announcements and social media, and participating in these events promptly can save you a lot of money.
Other Hidden Costs of Futures Trading
Funding Rate
In addition to trading fees, another important cost for perpetual futures is the Funding Rate. The funding rate is settled every 8 hours, at 00:00, 08:00, and 16:00 UTC time.
When the funding rate is positive, longs pay shorts; when it is negative, shorts pay longs. The funding fee amount = Position Value × Funding Rate.
For example, if you hold a 10,000 USDT long position and the current funding rate is 0.01%, you need to pay 10,000 × 0.01% = 1 USDT to the shorts. Three settlements a day means 3 USDT. If you hold the position for a long time, this fee will continue to accumulate.
Slippage
Slippage refers to the difference between the expected price when you place an order and the actual execution price. Market orders and large orders are prone to slippage. Trading illiquid coins can result in significant slippage, which is also a hidden trading cost.
To reduce slippage, choose trading pairs with good liquidity (like BTCUSDT, ETHUSDT), use limit orders, and avoid placing large orders during extreme market conditions.
Liquidation Fees
If your position is forcibly liquidated, you must also pay an additional liquidation fee. This fee is generally higher than the standard Taker rate. So getting liquidated doesn't just mean losing your margin; it also means paying an extra fee.
Fee Calculation Example
Let's calculate the complete cost of a futures trade. Suppose you use 10x leverage, invest 500 USDT as margin, and open a 5,000 USDT BTC long position.
Opening fee (Taker): 5,000 × 0.05% = 2.5 USDT.
You close the position after holding it for 8 hours, experiencing one funding rate settlement during this period at a rate of 0.01%. Funding fee: 5,000 × 0.01% = 0.5 USDT.
Closing fee (Maker limit order): Assuming the closing value is 5,200 USDT, the fee is 5,200 × 0.02% = 1.04 USDT.
Total trading cost = 2.5 + 0.5 + 1.04 = 4.04 USDT.
Your gross profit is 200 USDT, and after deducting the 4.04 USDT cost, your net profit is 195.96 USDT. The cost doesn't seem like a large percentage here.
But if you are a high-frequency short-term trader, entering and exiting 10 times a day with similar position sizes, the fees alone could exceed 30 USDT. Over a month, that's nearly 1,000 USDT, which cannot be ignored.
How to Check Your Fee Expenses
In the Binance App, go to the futures trading page, click "Orders" and then "Transaction History" to see the fee details for each trade. You can also export your transaction records from the "Wallet" page on the web version and use Excel to calculate your total fee expenses over a period.
Regularly checking your fee reports is a good habit. If you find that fees are taking up a large percentage of your profits, you need to consider reducing your trading frequency or finding ways to lower your rates.
Additionally, on the Binance fee page (accessible via the user center), you can see your current VIP level, standard rates, and how much more trading volume is needed for the next VIP tier.
Fee Comparison with Other Exchanges
Binance's futures fees are highly competitive among major exchanges. Different exchanges have different fee structures; some might have lower Maker fees but higher Taker fees, and some might have different discount mechanisms.
But choosing an exchange shouldn't just be about fees; you also need to consider liquidity, security, the number of trading pairs, user experience, and other factors. As the world's largest cryptocurrency exchange, Binance has obvious advantages in these areas. Good liquidity means lower slippage, which in itself saves you money.
Frequently Asked Questions
What are the Maker and Taker rates for Binance futures?
For regular users (VIP 0), the USDT perpetual futures rates are: Maker 0.02%, Taker 0.05%. You can get a 10% discount by using BNB to deduct fees. Different VIP tiers have different fee discounts.
Is the funding rate fixed?
No. The funding rate is floating and changes dynamically based on the balance of long and short forces in the market. When longs are overheated, the funding rate is positive, and longs pay shorts; when shorts are overheated, it's negative, and shorts pay longs. You can view the current and predicted funding rates in real-time on the Binance futures page.
How to use BNB to deduct futures fees?
In the settings (gear icon) in the upper right corner of the futures trading page, find the "BNB Fee Deduction" option and turn it on. Also, make sure you have enough BNB balance in your futures account. BNB can be transferred from your spot account to your futures account.
Are fees calculated based on margin or position value?
Fees are calculated based on the notional value of the position, not the margin. For example, if you use 100 USDT margin to open a position with 10x leverage, the position value is 1,000 USDT, and the fee is calculated based on 1,000 USDT. This is why the fee cost of high-leverage trading is relatively higher.
How much do fees cost per month on average?
This depends on your trading frequency and position size. Assuming you make an average of 3 trades a day, with each position valued at 5,000 USDT, and using the 0.05% Taker rate, the fee for opening and closing each trade is about 5 USDT. That's about 15 USDT a day and 450 USDT a month. If you add the funding rate, it might be even more.