Introduction to Hotcoin's fee rates

• This article will deeply discuss the fee rates related to Hotcoin trading. VIP levels determine your fee expenditure. If a user meets the requirements for spot trading volume, futures trading volume, or balances for a particular VIP level, they will enjoy the benefits of the highest applicable VIP level. This means that if you meet the VIP level requirements in any trading type, you will automatically qualify for that VIP level across all types. For details Click here

• In the trading process, there are usually two parties: the maker and the taker, each corresponding to different fee rates. A maker sets a price and places an order that does not immediately match with existing orders in the order book but waits for a counterparty to actively fill the order. Once the order is completed, the maker pays a maker fee, while the taker pays a taker fee.

Spot & Margin Trading

1. In spot and margin trading, the fee for buying is charged in the base currency, while the fee for selling is charged in the quote currency. The fee for spot and margin trading is calculated as quantity * rate, with the rate primarily determined by the type of order and whether the trader is a Maker or a Taker. 

2. Fees incurred in spot and margin trading are clearly displayed in the order details. Additionally, in the transaction history, you can see whether the order was executed as a Maker or Taker and view the detailed fee charges. 

Futures trading

• In Futures trading, USDT-margined Futures charged in the quote currency, while crypto-margined Futures charged in the target currency. Fees are calculated based on the trader's order type, whether they are a Maker or Taker, and the corresponding VIP level. 

•   The calculation of Futures fees follows the formula:   Fee = Futures Order Value * Fee Rate,  Futures Order Value = Futures Quantity (cont) * Face value* Price. 

• Users can also obtain Futures fee deduction vouchers through the Benefits Center or activities. There are two types of vouchers: percentage-based and amount-based. For percentage-based deductions: Actual Fee = (Contract Order Value * Fee Rate) * (1-Deduction Percentage)； For amount-based deductions:   Actual Fee = Futures Order Value * Fee Rate-Deduction Fee Amount. 

• Fees incurred in Futures trading are displayed in the order details. In the transaction history, you can view whether the order was filled as a Maker or Taker, along with detailed fee charges and deductions.

Summary 

To sum up, fees are a crucial factor in the trading process. Traders can flexibly use different order types and upgrade their VIP levels to reduce their fee rates.