Dear BitVenus User,
Regarding the contract fee structure and fee calculation of BitVenus contracts:
I. Introduction to Contract Fees
Contract fees are the transaction fees charged to you when you place an order in trading. The fee structure varies for each type of transaction. Please refer to the latest fee rate standards on the BitVenus official announcement or fee rate page for more information.
The main source of BitVenus' revenue comes from the transaction fees paid by users in trading, including contract trading and spot trading. This announcement will provide a detailed explanation of contract fee calculation and details.
II. Explanation of Contract Fees
Contract fees are calculated based on a simple percentage formula, which mainly depends on the product type of the transaction and whether the trader is a maker or a taker.
Maker: A maker is a trader who places an order at a specified price, which will not be immediately executed against other orders in the depth list. Instead, the order is placed in the depth list waiting for the counterparty to actively match it.
Taker: A taker is a trader whose buy price is greater than or equal to the sell price or whose sell price is less than or equal to the buy price. Such orders are immediately executed, reducing the market depth.
III. How to Calculate Contract Fees?
Formula for Contract Trading Fees:
Trading Fees = (Contract Quantity x Trading Price) x Trading Fee Rate
Trader A buys 1 BTCUSDT contract using a market order, while Trader B sells 1 BTCUSD contract using a limit order. If the final trading price is 40,000 USDT: Trader A's taker fee = 1 x 40,000 x 0.06% = 24 USDT Trader B's maker fee = 1 x 40,000 x 0.04% = 16 USDT
Thank you for your support of BitVenus. We will continue to provide you with better products and services!
BitVenus official website: https://www.bitvenus.me
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