"I bought 1 ETH, so why did I only receive 0.999?" "How did I spend hundreds in futures fees in a single day?" Many people have been trading on Binance for a while but have no clear idea how fees are deducted or how much they're actually paying. Let me break down every type of fee so you know exactly what's going on.
You can check your current VIP tier and fee rates on the Binance website fee page. We recommend downloading the Binance App — the order confirmation screen shows estimated fees before you trade.
Spot Trading Fees
The Basic Formula
Fee = Trade Value × Fee Rate
Sounds simple, but there are some details worth noting.
How Fees Are Deducted When Buying
Say you're buying BTC with USDT. BTC price is 65,000 USDT and you buy 0.1 BTC.
Trade value = 65,000 × 0.1 = 6,500 USDT
Without BNB fee deduction, the fee is taken from the BTC you receive:
- Fee rate (VIP 0) = 0.1%
- Fee = 0.1 BTC × 0.1% = 0.0001 BTC
- You actually receive = 0.1 - 0.0001 = 0.0999 BTC
That's why buying 0.1 BTC doesn't give you a round number.
With BNB fee deduction:
- Fee = 6,500 × 0.1% × 0.75 = 4.875 USDT (converted to equivalent BNB and deducted from your BNB balance)
- You actually receive = exactly 0.1 BTC
Using BNB not only saves money but keeps your holdings at clean, round numbers — much easier to manage.
How Fees Are Deducted When Selling
Say you sell 0.1 BTC at 65,000 USDT.
Trade value = 6,500 USDT
Without BNB, the fee comes out of your USDT proceeds:
- Fee = 6,500 × 0.1% = 6.5 USDT
- You actually receive = 6,500 - 6.5 = 6,493.5 USDT
With BNB:
- Fee = 6,500 × 0.1% × 0.75 = 4.875 USDT (deducted from BNB balance)
- You actually receive = the full 6,500 USDT
Total Fees for a Round Trip
A complete trade (buy + sell) means paying fees twice:
- Buying: 6,500 × 0.1% = 6.5 USDT
- Selling: assuming the same price, another 6.5 USDT
- Total fees: 13 USDT
In other words, for a 6,500 USDT trade to be profitable, BTC needs to rise more than 0.2% (the combined Maker + Taker fee) before you actually make money.
Futures Trading Fees
Futures fees follow the same logic as spot, but with one critical difference: fees are calculated on the total position value, not your margin.
The Formula
Fee = Position Value × Fee Rate
Worked Example
Say you use 10x leverage with 1,000 USDT as margin to go long on BTC:
- Position value = 1,000 × 10 = 10,000 USDT
- Opening fee (Taker) = 10,000 × 0.05% = 5 USDT
- Closing fee (Taker) = 10,000 × 0.05% = 5 USDT
- Total round-trip fee = 10 USDT
That 10 USDT is 1% of your margin. If you open and close positions frequently, this cost adds up fast.
What about Maker orders?
- Opening fee (Maker) = 10,000 × 0.02% = 2 USDT
- Closing fee (Maker) = 10,000 × 0.02% = 2 USDT
- Total fee = 4 USDT
That's 60% less than Taker. This is why I always recommend using limit orders when you're not in a hurry.
How Leverage Multiplies Fees
Many people don't realize: the higher the leverage, the larger the fee as a percentage of your margin.
Using a Taker rate of 0.05%:
| Leverage | Margin | Position Value | Round-Trip Fee | Fee as % of Margin |
|---|---|---|---|---|
| 5x | 1,000 | 5,000 | 5 USDT | 0.5% |
| 10x | 1,000 | 10,000 | 10 USDT | 1% |
| 20x | 1,000 | 20,000 | 20 USDT | 2% |
| 50x | 1,000 | 50,000 | 50 USDT | 5% |
| 125x | 1,000 | 125,000 | 125 USDT | 12.5% |
At 125x leverage, opening and closing fees alone eat 12.5% of your margin. The market barely has to move before you're already deep in the red.
Funding Rate (Futures Only)
Beyond trading fees, holding a perpetual futures position also involves paying or receiving a funding rate.
- Settled every 8 hours (00:00, 08:00, 16:00 UTC)
- The rate fluctuates based on market supply and demand
- When positive: longs pay shorts. When negative: shorts pay longs.
Formula: Funding cost = Position value × Funding rate
For example, you hold a 10,000 USDT long position and the current funding rate is 0.01%:
- Funding cost = 10,000 × 0.01% = 1 USDT (you pay)
If you hold a position long-term, three funding settlements per day can add up to a hefty sum.
Withdrawal Fees
Withdrawal fees work completely differently from trading fees. They're a fixed amount, not a percentage.
Withdrawal fees depend on two factors:
- The asset
- The blockchain network you choose
For the same asset — USDT — fees vary dramatically across networks:
| Network | Approximate Fee |
|---|---|
| TRC20 (TRON) | 1 USDT |
| BEP20 (BSC) | 0.29 USDT |
| ERC20 (Ethereum) | 3–15 USDT (varies with gas) |
| Arbitrum | 0.1 USDT |
| Polygon | 0.1 USDT |
When choosing a network, don't just look at fees — make sure the receiving end supports that network.
Other Potential Costs
Convert (instant swap) fees: Binance's Convert feature appears to be fee-free, but includes a spread in the exchange rate. The gap between the Convert price and the market price is your hidden cost, typically 0.1%–0.5%.
Margin interest: If you use Binance margin trading (not futures), borrowed funds accrue interest by the hour. Rates fluctuate based on market conditions.
Cross-account transfers: Transferring funds between your own Binance sub-accounts is free.
Factor Fees Into Your Trading Plan
Before every trade, take a few seconds to calculate fees. A quick mental math guide:
- Spot VIP 0 without BNB: 0.1% of trade value
- Futures VIP 0 Taker: 0.05% of position value
- Futures VIP 0 Maker: 0.02% of position value
Knowing fees lets you calculate the minimum profit needed to break even. This is something many beginners overlook, but it's critically important.