How to calculate Poloniex contract transaction fees

Poloniex's contract transaction fee, based on contract value, varies depending on type (e.g., USDT-margined futures incur a 0.02% fee).

Nov 26, 2024 at 09:24 pm

How to Calculate Poloniex Contract Transaction Fees

Poloniex is a cryptocurrency exchange that offers a variety of trading options, including spot trading, margin trading, and futures trading. When trading futures contracts on Poloniex, you will need to pay a transaction fee. The transaction fee is a percentage of the total value of the contract, and it is used to cover the costs of executing the trade.

The Poloniex contract transaction fee is calculated as follows:

Transaction fee = Total value of the contract * Transaction fee rate

The transaction fee rate varies depending on the type of contract being traded. The following table shows the transaction fee rates for different types of contracts:

For example:

If you are trading a USDT-margined futures contract with a total value of $10,000, the transaction fee would be $0.02% * $10,000 = $2.

In addition to the transaction fee, you may also need to pay a funding fee. The funding fee is a small payment that is made by one party to the other party in a futures contract. The funding fee is used to ensure that the price of the futures contract remains close to the spot price of the underlying asset.

The funding fee is calculated as follows:

Funding fee = Funding rate Total value of the contract Number of days in the funding period

The funding rate is a variable that is set by Poloniex. The funding rate can be positive or negative, and it is typically expressed as an annualized percentage rate.

The number of days in the funding period is the number of days between the current date and the next funding date. The funding date is typically a Saturday or Sunday.

For example:

If the funding rate is 0.01% and the total value of the contract is $10,000, the funding fee for a one-day funding period would be 0.01% * $10,000 * 1 = $1.

The transaction fee and the funding fee are both important factors to consider when trading futures contracts on Poloniex. By understanding how these fees are calculated, you can make sure that you are not paying more than you need to.

Here are some additional tips for calculating Poloniex contract transaction fees:

• Use a trading calculator. There are a number of online trading calculators that can help you calculate the transaction fee for a given trade.
• Check the Poloniex fee schedule. Poloniex has a fee schedule that lists the transaction fee rates for different types of contracts.
• Contact Poloniex support. If you have any questions about how to calculate Poloniex contract transaction fees, you can contact Poloniex support for assistance.