How to Verify Crypto Trading Fees: Exchange Fee Schedule Checklist
A reader checklist for checking maker/taker fees, tier calculations, and charge currency on an exchange's public fee schedule.
To verify how an exchange charges trading fees, start with its published fee schedule and check four things: whether an order is maker or taker, how your fee tier is calculated, which currency the fee is charged in, and when tiers update. The points below are based on a fee schedule for ActiveTrader and exchange API orders.
1. Confirm which orders the schedule covers
The schedule applies to all orders placed via the ActiveTrader and exchange API interfaces. If you trade through another interface, confirm separately whether the same terms apply.
2. Separate maker and taker fees
Maker orders and taker orders have different fees. A taker order matches immediately and does not rest on the order book; it is subject to taker fees. A maker order does not match immediately and rests on the order book; it is subject to maker fees.
Maker fees are only charged when a maker order is matched. There is no fee for cancelling a maker order. Partially matched orders are subject to both maker and taker fees: the portion that matches immediately is charged taker fees, and the remainder that rests is charged maker fees when matched.
3. Check the fee currency
Fees are charged in the quote currency or the second currency of the trading pair. For example, fees for BTC/USD are charged in USD, and fees for ETH/BTC are charged in BTC. This matters when you compare costs across pairs, because a fee quoted as a percentage can translate into different amounts depending on the pair.
4. Understand how your fee tier is set
Your fee tier is based on either your total trailing 30-day trading volume across all order books (excluding volume traded on stablecoin pairs) or your total asset balance in USD. Non-USD trades are converted to USD using the most recent fill price. If your volume and balance fall into different tiers, your fees are set to the higher tier, meaning you pay the lower fee.
Tiers are recalculated every day at approximately 2am UTC (9pm EST / 10pm EDT, previous day) and applied to all orders going forward from that time.
5. Check for negative maker fees
Maker fees for large volume derivatives tiers are negative. If you qualify for these tiers, you receive a rebate on maker orders that match. Negative fees are not a discount code; they are part of the published tier structure.
6. Account for interest on outstanding loans
If you have an outstanding loan, interest fees are charged on the outstanding loan amount at the hour, every hour (for example, 00:00, 01:00, 02:00). This is separate from trading fees and should be included in any cost comparison.
Worked example (Hypothetical)
Suppose you place a limit order that partially fills immediately and partially rests. Assume the immediate portion incurs a taker fee of 0.20% and the resting portion later matches at a maker fee of 0.10%. For a hypothetical $10,000 order where $4,000 fills immediately and $6,000 rests, the taker fee would be $8.00 (0.20% of $4,000) and the maker fee would be $6.00 (0.10% of $6,000), for a total of $14.00. If the order were cancelled before the resting portion matched, no maker fee would apply to that portion.
Reader checklist
- Identify whether each order is maker or taker before estimating cost.
- Confirm the fee currency for each trading pair you use.
- Check whether your tier is based on volume, balance, or both, and note the higher-tier rule.
- Verify the daily recalculation time in your local time zone.
- Include loan interest if you borrow.
- Check whether negative maker fees apply to your tier.
What the source does not say
The source does not state specific fee percentages for each tier, minimum volume or balance thresholds, whether the schedule applies to interfaces other than ActiveTrader and exchange API, how stablecoin pairs are defined, or whether fees differ by account type. It also does not provide a complete list of derivatives tiers or rebate amounts.
Sources
Informational only. Not financial, legal or investment advice. Check the primary sources listed above before you act on anything here.