Last Updated: 2026-10-25
Risk warning: These are constructed arithmetic examples, not financial advice, tested trades or return forecasts. Trading can lose the entire stake.
The previous article attributed fees to undocumented time, spread and order-size multipliers. That reconstructed model and the trading advice based on it are withdrawn. Start with the exact market’s documented parameters, not an assumed universal rate.
Formula, rate and denominator
The official fee documentation, checked October 25, 2026, gives fee = shares × feeRate × price × (1 − price). The dollar fee for a fixed share count peaks at 0.50. Market/category parameters can differ; consult the market details. The documentation also distinguishes taker fees from maker rebates.
For illustrative rate r = 0.04 and 100 shares:
Scroll sideways to see every column. Keyboard: focus the table region and use the arrow keys.
| Price | Purchase notional | Formula fee | Fee / notional |
|---|---|---|---|
| $0.10 | $10 | $0.36 | 3.6% |
| $0.50 | $50 | $1.00 | 2.0% |
| $0.90 | $90 | $0.36 | 0.4% |
The equal dollar fees at 0.10 and 0.90 do not mean equal percentages of purchase cost. A fee-rate parameter of 0.04 is not simply “4% of every trade.” Keep share quantity, price, fee dollars and denominator in separate columns.
A round-trip worksheet
Assume buying 100 shares at $0.40 and later selling all 100 at $0.45, with the same illustrative rate on both fills. Entry fee is $0.96; exit fee is $0.99. Gross price gain is $5; after those two fees it is $3.05. Any extra slippage or other charges reduce it further. Use actual executed cash flows if the venue’s fee collection changes the quantity received.
Do not subtract the bid–ask spread a second time when the purchase and sale prices already include the actual ask and bid. Compare a separate hypothetical mid-price benchmark only if it is clearly labeled as an opportunity-cost comparison.
Inputs to save with a quote
Record market/token ID, venue/entity, quote time, maker/taker status, current fee parameters, quantity, execution price and actual charged fee. Keep rounding and minimum-charge rules from the current documentation. For a simulation, explain which of these are assumptions. If the parameter is missing or conflicts with a response, stop the estimate and resolve the discrepancy rather than guessing.
A lower fee does not make an outcome attractive or eligible to trade. Price risk, fill uncertainty, settlement conditions and access rules remain. This worksheet does not compare platforms using incompatible “percent of profit” and “percent of notional” figures, or assume a rebate will be received.
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