How to calculate the Binance contract fee? Specific calculation method for Binance contract fee

As the world's leading cryptocurrency trading platform, Binance's contract trading function is very popular among users. Mastering the calculation of Binance contract fees is crucial to controlling transaction costs. This article will explain in detail the calculation method of Binance contract handling fees and provide specific calculation cases.

The basic concept of Binance contract fee

Binance contract handling fees refer to the fees that users need to pay when conducting contract transactions. The calculation of handling fees is mainly based on the type of transaction (opening or closing positions), trading volume and user VIP level. Binance offers two contract types: USDT margin contract and currency standard contract , and the handling fee calculation methods are different.

Calculation of USDT margin contract handling fee

For USDT margin contracts, Binance's handling fees are divided into opening and closing fees . The calculation formula is as follows:

• Opening fee = Trading volume × Opening fee rate
• Closed position fee = Trading volume × Closed position fee rate

Suppose a user conducts USDT margin contract trading, with a trading volume of 100,000 USDT, a 0.02% opening fee and a 0.04% closing fee. So:

• Opening fee = 100,000 USDT × 0.02% = 20 USDT
• Closed fee = 100,000 USDT × 0.04% = 40 USDT

Therefore, the total handling fee for this transaction is USDT + USDT 40 = USDT.

Calculation of coin standard contract handling fee

The handling fee calculation of a currency standard contract is similar to that of a USDT margin contract, but the handling fee is denominated on the underlying asset of the contract. Suppose a user conducts BTC standard contract transactions, with a trading volume of 10 BTC, a fee for opening a position is 0.02%, and a fee for closing a position is 0.04%. So:

• Opening fee = 10 BTC × 0.02% = 0.002 BTC
• Closed fee = 10 BTC × 0.04% = 0.004 BTC

Therefore, the total handling fee for this transaction is 0.002 BTC + 0.004 BTC = 0.006 BTC.

The impact of VIP level on contract handling fees

Binance's VIP rating system allows users to reduce handling fees by increasing transaction volume or holding BNB. Different VIP levels correspond to different opening and closing handling rates. Here are examples of VIP levels and corresponding handling rates:

• Ordinary user : The opening fee rate is 0.02%, and the closing fee rate is 0.04%.
• VIP 1 : The opening fee rate is 0.015%, and the closing fee rate is 0.03%
• VIP 2 : The opening fee rate is 0.01%, and the closing fee rate is 0.025%.

Suppose a VIP 1 user conducts a USDT margin contract transaction with a transaction volume of USDT, then:

• Opening fee = 100,000 USDT × 0.015% = 15 USDT
• Closed fee = 100,000 USDT × 0.03% = 30 USDT

Therefore, the total handling fee for this transaction is USDT + USDT 30 = USDT.

How to view and calculate the actual handling fee

Users can view the specific contract handling fee rates through Binance's trading interface. Here are the steps to view and calculate the actual handling fee:

• Log in to the Binance account and enter the contract trading page
• Select the type of contract to trade (USDT margin contract or currency standard contract)
• Check the current opening and closing fees on the trading interface
• Calculate the actual handling fee based on transaction volume and handling fee rate

For example, if the user sees the current opening fee rate in the trading interface of 0.02%, closing fee rate is 0.04%, and trading volume is 50,000 USDT, then:

• Opening fee = 50,000 USDT × 0.02% = 10 USDT
• Closed fee = 50,000 USDT × 0.04% = 20 USDT

Therefore, the total handling fee for this transaction is USDT + USDT 20 = USDT.

FAQ

Q1: Can Binance contract fees be reduced?

A1: Binance provides some ways to reduce fees, such as enjoying fee discounts by holding BNB, or increasing the VIP level by reaching a certain transaction volume, thereby reducing the handling fee rate.

Q2: What is the payment method for Binance contract handling fees?

A2: The payment method of Binance contract fee depends on the contract type. For USDT margin contracts, the handling fee is paid in USDT; for coin standard contracts, the handling fee is paid in the underlying asset of the contract.

Q3: Will the Binance contract handling fee be adjusted according to market conditions?

A3: Yes, Binance may adjust the contract handling rate according to market conditions. Users can keep abreast of the latest handling rates through Binance's official announcement or trading interface.

Q4: Is there a minimum limit on Binance contract handling fees?

A4: There is no minimum limit for Binance contract handling fees, and users need to calculate the specific handling fees based on the actual transaction volume and handling fee rate.