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How to calculate Upbit contract fees
For a maker, buying a perpetual contract worth $1,000 with a base fee of 0.03% and a maker rebate of 0.015% would result in a total fee of $0.2805 after applying a VIP Level 1 discount of 5%.
Nov 08, 2024 at 02:50 am
How to Calculate Upbit Contract Fees
1. Understand the Fee Structure
Upbit's contract fee structure is based on a maker-taker model, where makers (users who add liquidity to the order book) pay lower fees than takers (users who remove liquidity). The fee structure also varies depending on the contract type and the user's VIP level.
2. Calculate the Base Fee
The base fee is the standard fee charged for each contract trade. It is calculated as a percentage of the contract value and is determined by the contract type. For example, the base fee for perpetual contracts is 0.03%.
3. Calculate the Maker Rebate
Makers receive a rebate on their trading fees. The rebate is calculated as a percentage of the base fee and is also determined by the contract type. For example, the maker rebate for perpetual contracts is 0.015%.
4. Calculate the Taker Fee
Takers pay a higher fee than makers. The taker fee is calculated as a percentage of the base fee and is also determined by the contract type. For example, the taker fee for perpetual contracts is 0.06%.
5. Calculate the VIP Discount
Upbit offers a VIP program that provides discounts on trading fees. The VIP discount is calculated as a percentage of the base fee and is determined by the user's VIP level. For example, VIP Level 1 users receive a 5% discount on trading fees.
6. Calculate the Total Fee
The total fee is the sum of the base fee, the maker rebate (if applicable), and the taker fee (if applicable). The total fee is also subject to the VIP discount (if applicable).
Example:
Let's say you are a VIP Level 1 user and you want to buy a perpetual contract worth $1,000. The base fee for perpetual contracts is 0.03%. Your VIP discount is 5%.
Calculation:
- Base Fee = $1,000 x 0.03% = $0.30
- Maker Rebate = $0.30 x 0.015% = $0.0045
- Taker Fee = NA (since you are not a taker)
- VIP Discount = $0.30 x 5% = $0.015
- Total Fee = $0.30 - $0.0045 - $0.015 = $0.2805
Therefore, the total fee for this trade would be $0.2805.
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