SorooshX Futures Transaction Fee Overview

Futures transaction fees are applied when you place, open, or cancel orders, and these fees can vary based on the transaction type. For the most current rates, please check SorooshX's official announcements or the Fee Schedule.

Understanding Transaction Fees

Transaction fees for futures orders follow a simple calculation, which can differ based on whether you're a maker or a taker. At SorooshX, these fees depend on the product type and the user's role in the transaction. Before we get into the calculation, let's define the roles:

Makers vs. Takers

In the market, there are two key roles: makers and takers. Both are crucial for the efficient functioning of an exchange:

• Makers: These users add liquidity by creating buy or sell orders that are not immediately filled. For example, if you set a sell order for ETH at $2,000, you're providing liquidity. Makers typically enjoy lower transaction fees as a reward for enhancing market efficiency.
• Takers: Takers are those who fill existing orders, thus removing liquidity from the market. If you place an order to buy or sell that is executed right away, you're acting as a taker. Takers generally pay higher fees compared to makers.

Calculating Transaction Fees

Transaction fees are incurred when opening and closing positions, and they are influenced by three main factors:

• Entry/Exit Price: This is the price at which you open or close a position.
• Quantity (Amount): This reflects your trading funds, calculated as margin multiplied by leverage.
• Maker/Taker Fees: These depend on how you enter or exit the market.

The formula for calculating fees is:

Transaction Fee = Order Value × Transaction Fee Rate

And:

Order Value = Futures Quantity × Price

 

Example

If Trader A places a market order to buy a ETHUSDT futures contract, and Trader B sets a limit order at 2,000 USDT, the fees would be calculated as follows:

• Taker Fee for Trader A (market order):
• 1 × 2,000 × 0.00069 = 1.38 USDT
• Maker Fee for Trader B (limit order):
• 1 × 2,000 × 0.00029 = 0.58 USDT

 

Opening a Position

When a position is opened, the system charges a transaction fee that is separate from the margin. This fee accounts for estimated entry, exit, and funding fees.

 

Funding Fees

Funding fees help maintain the trading price of perpetual futures in line with the underlying asset's reference price. Key points include:

• SorooshX does not charge funding fees as part of the margin, and they are applied at specific intervals.
• Funding fees are assessed every eight hours at 7:00 AM, 3:00 PM, and 11:00 PM (UTC). You will incur these fees only if you hold a position at that time.
• As a result, the margin may be slightly less than the initial margin when placing an order due to these separate fees.

 

How VIP Levels Influence Your Trading Experience

Your VIP level can unlock exclusive perks and lower transaction fees, giving you more value as you trade. This level is calculated based on a combination of your trading activity in both spot and futures markets and your total asset holdings. Even if your futures trading volume qualifies you for only VIP1, reaching the VIP2 threshold in spot trading ensures you still receive the benefits and fee discounts of VIP2.

 

Checking Your Futures Transaction Fees

Navigate to the Trade tab and then the Futures tab. Tap on Order History to view amounts (including closed PnL changes) and fees for each order.
In the Futures Order History section, you’ll see how transaction fees are structured. SorooshX divides orders into parts during the opening and closing phases, charging fees accordingly.

Transaction fees are essential in trading, and keeping track of them can help you make more informed decisions. By understanding the differences between maker and taker fees, traders can optimize their strategies, enhance profitability, and mitigate risks associated with their trades on SorooshX.