Bitget Beginner's Guide — Futures Transaction Fee Calculation

Overview

● In this article, we will delve into Bitget Futures Trading fee structure and calculation.

● Bitget offers a variety of transaction fees and discounts. Click here to view details.

● Your VIP level determines your transaction fees. Users will enjoy the highest level of VIP perks if their spot trading volume, futures trading volume, assets, and BGB holdings (new) meet the requirements for different VIP levels. For instance, if you qualify for VIP2 based on your spot trading volume but only meet VIP1 criteria for futures trading volume, you will still be automatically upgraded to VIP2.

Bitget Futures Transaction Fee Calculation

Futures transaction fees are incurred when you place, open, or cancel an order. These fees vary depending on the type of transaction. For the latest fee rates, refer to Bitget's official announcements or the Fee Schedule page.

Transaction fees on futures orders are calculated using a simple formula, which may vary depending on the type of order and whether the trader is a maker or a taker. At Bitget, futures transaction fees are contingent on the product type and whether the trader is a maker or a taker. Before diving into the formula, let's clarify the definitions of a maker and a taker.

1. What are makers and takers?

The market consists of makers and takers. Both are essential for the normal operation of an exchange. Put simply:

● Makers provide liquidity by creating a market for a token on the exchange.

● Takers remove liquidity by filling open orders.

You are a maker if you create buy or sell orders that aren't executed immediately and wait for your orders to be filled (e.g., "sell BTC when the price hits $100,000"). By being a maker, you create liquidity for the exchange, making it easier for others to buy or sell assets when the condition is met. For this reason, the exchange rewards makers with lower transaction fees.

On the other hand, you are a taker if you fill someone else's orders. You use the liquidity created by the makers to buy or sell assets instantly. As a taker using liquidity, you often have to pay higher transaction fees.

Note that your VIP level determines your transaction fees. Users will enjoy the highest level of VIP perks if their spot trading volume, futures trading volume, assets, and BGB holdings (new) meet the requirements for different VIP levels. For instance, if you qualify for VIP2 based on your spot trading volume but only meet VIP1 criteria for futures trading volume, you will still be automatically upgraded to VIP2. Click here for details.

2. Calculation formula for Bitget futures transaction fees

Transaction fees are charged when opening and closing positions. The following three factors are involved:

● Entry/exit price: Whether a position is opened or closed.

● Amount: The amount of trading funds. You can find it in the order details and is the result of the margin multiplied by the leverage.

● Maker/taker fees: Depending on how the user enters or exits the market.

Transaction fee = order value × transaction fee rate, where order value = (futures quantity × price).

For example, if Trader A places a market order to buy a BTCUSDT futures contract, and Trader B places a limit order to buy a BTCUSDT futures contract at 60,000 USDT, then:

Taker fee for Trader A = 1 × 60,000 × 0.06% = 36 USDT

Maker fee for trader B = 1 × 60,000 × 0.02% = 12 USDT

3. Opening a Position

When a position is opened, the transaction fee is charged by the system and separated from the margin used in the order. This fee includes the estimated entry, exit, and funding fees.

Funding fee is a core operating mechanism of Bitget perpetual futures. It ensures that the trading price of perpetual futures closely follows the reference price of the underlying asset through regular exchanges of fees between long and short positions. Please note:

● No funding fees are charged by Bitget. Funding fees are separated from the margin and are only charged at specific times.

● Funding fees incur every eight hours at 7:00 AM, 3:00 PM, and 11:00 PM (UTC+8). You will only be required to pay or receive a funding fee if you hold a position at any one of these times.

● Therefore, the margin of an order will be slightly less than the initial margin when placing the order, as the fees are separately charged. If no funding fees are charged after opening and closing a position, the margin will remain the same as the initial amount, minus the entry and exit fees, plus profit and loss.

Checking Your Futures Transaction Fees

1. Transaction history >> Futures records

The futures records page displays the amount (including changes such as the closed PnL) and fees of each order. Select Assets on the upper right corner of the website and then go to Transaction history >> Futures records.

In Futures records, you will see how Bitget charges transaction fees. The fees are not charged on one single order as a whole. Bitget divides the order into parts during the opening and closing of the position, and the total fee is charged in parts. All fees are charged at the same time. In fact, they are all parts of a total, which is the position opening or closing fee.

The page does not display information such as entry or exit prices. It only displays amounts and fees.

2. Transaction History (Futures Trading Page)

The Transaction History tab on the futures trading page displays more details about fees. You can use it to manually calculate fees or verify the details of the amount, quantity, entry/exit price, and total fees when in doubt.

Similar to the Futures Records page, Bitget splits the fees into parts. In some cases, fees must be added to the total amount.

Conclusion

Transaction fees play a critical role in trading. Monitoring market fee rates and liquidity closely can assist traders in making more successful trades. Additionally, leveraging the difference between maker fees and taker fees can lead to higher profits. Bitget offers users the ability to trade at suitable rates and even capitalize on these differences, thereby protecting traders from losses and mitigating risks associated with their initial trades.

Related articles

Bitget Beginner's Guide — What Are Futures?

Bitget Beginner's Guide — How To Make Your First Futures Trade

Bitget Beginner's Guide — How to Avoid Liquidation

Bitget Beginner's Guide — A Comprehensive Introduction to USDT-M Futures, USDC-M Futures, and Coin-M Futures

Bitget Beginner's Guide — Key Futures Trading Terms and Their Application Scenarios

Bitget Beginner's Guide — Introduction to Futures Order Types

Bitget Beginner's Guide — Introduction to Futures Trading Modes

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Bitget Beginner's Guide — Introduction to Take Profit and Stop Loss (TP/SL) in Futures Trading