Key takeaways
Separates maker and taker rates
Shows notional value and return on margin
The full cost ledger for a futures trade
For a linear USDT-margined contract: notional is margin times leverage; opening fee is opening notional times the opening rate; closing fee is closing notional times the closing rate; funding is generally settlement position value times the current funding rate. Net PnL deducts opening, closing, and paid funding from price PnL.
Exchanges differ in contract size, coin-margined products, fee currency, funding settlement, and liquidation charges. This calculator uses a simplified USDT-margined model; confirm the product type on the live contract page before entering values.
Leverage changes the fee base, not the quoted rate
With 1,000 USDT margin at 10x leverage, notional is about 10,000 USDT. Even a 0.05% rate produces about 5 USDT per notional-based fill. Opening and closing are charged separately. Multiplying 0.05% by margin would understate cost tenfold.
Higher leverage reduces initial margin for the same position but does not automatically reduce notional. Costs therefore consume a larger share of margin and liquidation distance may shrink. The same amplification that raises apparent return also magnifies fees, funding, and adverse movement.
A worked example you can verify
Assume 1,000 USDT margin, 10x long, entry 60,000, exit 60,600, 0.05% taker fees on both fills, and 0.01% funding paid. Notional is about 10,000 USDT; a 1% move gives about 100 USDT gross PnL. Opening fee is about 5, closing fee 5.05, funding about 1, leaving simplified net PnL near 88.95 USDT.
The example excludes slippage, partial fills, maintenance tiers, liquidation charges, and changing funding, and assumes constant position size. Use fill history and funding records for the actual bill.
Enter maker, taker, and funding separately
Placing a limit order does not guarantee maker treatment. If it executes immediately against existing liquidity, taker pricing may apply. Opening and closing can use different fill types, so inspect each actual fill.
Funding is neither an opening commission nor a borrowing charge. Perpetual contracts generally settle only positions held at the timestamp; the sign determines which side pays, and interval can vary. Do not project the current rate unchanged across many days.
What this calculator does not cover
It excludes slippage, spread, liquidation charges, auto-deleveraging, insurance funds, risk tiers, inverse contracts, portfolio margin, and other cross-margin positions. Liquidation price cannot be inferred from this cost result and must be checked separately.
If you cannot locate the current fee tier, maker/taker rates, funding rate, and settlement time, do not use example values to make a trade decision. The tool supports verification; it does not replace product rules.
FAQ
Why are both opening and closing fees included?
Opening and closing are separate fills and are generally charged from each fill notional and liquidity type. Partial fills can create several fee records.
How should a negative funding rate be entered?
Keep the negative sign and interpret payment direction from the position side. The result remains an estimate based on settlement value and platform rules.
Why is my net PnL smaller than the exchange shows?
Three common sources of the gap: fills differed from the entry and exit prices you entered, the position crossed an extra funding settlement, and partial fills generated multiple fees. This calculator assumes a single fill at the prices you enter.
Are fees charged on notional value or on margin?
On notional, which is margin times leverage. This is where beginners most often underestimate cost: 1,000 USDT of margin at 20x is 20,000 notional, so a 0.05% taker fee is 10 USDT per side and 20 USDT round trip, or 2% of margin.
Sources and verification
Sources prioritize protocol, network, and exchange documentation. External pages can change; signed-in confirmation screens remain authoritative for fees and account status.