How to calculate Bithumb contract transaction fees

Understanding Bithumb's transaction fee structure is crucial for informed decision-making in futures and perpetual contract trading, as fees vary based on contract type and leverage.

Nov 07, 2024 at 10:22 am

How to Calculate Bithumb Contract Transaction Fees

Bithumb is one of the leading cryptocurrency exchanges in the world, and it offers a wide range of contract trading options. When trading contracts on Bithumb, it is important to be aware of the transaction fees that you will be charged. These fees can vary depending on the type of contract you are trading and the amount of leverage you are using.

In this article, we will provide a step-by-step guide on how to calculate Bithumb contract transaction fees. We will also provide a table of fees for different types of contracts and leverage levels.

Step 1: Identify the Type of Contract You Are Trading

The first step in calculating your Bithumb contract transaction fees is to identify the type of contract you are trading. Bithumb offers two types of contracts: futures contracts and perpetual contracts.

• Futures contracts are standardized contracts that expire on a specific date. The price of a futures contract is based on the expected price of the underlying asset at the time of expiration.
• Perpetual contracts are contracts that do not have an expiration date. The price of a perpetual contract is based on the current spot price of the underlying asset.

Step 2: Determine the Amount of Leverage You Are Using

The amount of leverage you use will also affect your transaction fees. Leverage is a tool that allows you to trade with more capital than you have in your account. However, using leverage also increases your risk of loss.

Bithumb offers a variety of leverage levels for its contracts. The maximum leverage level that you can use will depend on the type of contract you are trading and the amount of margin you have in your account.

Step 3: Calculate the Transaction Fee

Once you have identified the type of contract you are trading and the amount of leverage you are using, you can calculate the transaction fee. The transaction fee is a percentage of the contract value. The percentage varies depending on the type of contract and the amount of leverage.

Step 4: Add the Transaction Fee to the Order Price

Once you have calculated the transaction fee, you need to add it to the order price. The order price is the price at which you are willing to buy or sell the contract.

Step 5: Place the Order

Once you have added the transaction fee to the order price, you can place the order. Bithumb offers a variety of order types, so you can choose the order type that best suits your trading strategy.

Example

Let's say you want to trade a Bitcoin futures contract with 10x leverage. The current price of Bitcoin is $10,000.

Using the table of fees below, we can see that the transaction fee for a Bitcoin futures contract with 10x leverage is 0.05%.

The transaction fee would be calculated as follows:

Transaction fee = 0.05% x $10,000 = $5

The order price would be calculated as follows:

Order price = $10,000 + $5 = $10,005

You would then place the order at $10,005.

Table of Fees