FTX is a cryptocurrency derivatives exchange with a bit of a difference. Founded by Sam Bankman-Fried and backed by Alameda Research, the exchange boasts an array of unique features for crypto enthusiasts such as MOON or DOOM contracts. Anyway, you might be interested how much FTX charges with regards to fees, in this guide I’ll be walking you through the fee schedule on FTX and explaining a little further how much it really costs to trade on FTX.
FTX offers standard maker-taker trading fees of 0.02% and 0.07% respectively for all future and spot markets on the exchange. In addition to this, they also provide tiered levels of fee reductions based on your trading volume and FTT (the FTX exchange token) holdings.
FTX Tiered Fee Schedule (Volume Based)
Below is a table with the tiered fees on FTX based on the total Volume you trade in a 30D period. Essentially, the more you trade, the fewer fees you pay.
|Tier||30D Volume (USD)||Maker||Taker|
FTX Tiered Fee Schedule (FTT Holdings Based)
There are also different levels of fee reductions depending on the amount you hold of the native exchange token; FTT. Again, the more you hold, the lower fee rate you pay on your trades.
|FTT Holdings (USD)||Fee Discount|
In addtion to the main FTX exchange, you also receive a discount on FTX’s OTC fees by holding FTT, visit FTX.com for more information.
FTX Fees Explained
Now the fee tables above might make a whole load of sense to you, or it might mean nothing, it all depends on how familiar you are with trading on crypto exchanges. For this reason, I’m going to explain FTX’s fees in a bit more detail so that you can grasp an understanding of how much it actually costs to trade there.
Now there are two main points you need to understand regarding crypto exchange fees on platforms like FTX.
Firstly, you need to know the difference between maker and taker; these are different order types you can make on the exchange and to put it in its most simple form, a maker order is when you submit an order and wait for it to be taken by the market and a taker order is when you buy or sell at market price and get an instant order fulfilment. In general, maker fees are always lower than taker fees as you are adding liquidity to the market.
The second point about FTX‘s fees that I need to explain is that you pay the fee rate (%) on the total value of the trade, not the margin balance of the trade. For example, if you are trading with 10x leverage, you pay trading fees on the amount of your margin balance for that trade multiplied by 10; so if you traded 1 BTC with 10x leverage, you would pay 0.07% (taker order) on 10 BTC, not 1 BTC, therefore you would have a total fee of 0.007 BTC.
I hope that helped clear it up a little bit for you, it’s pretty easy when you get the hang of it.