Fee of LBank Futures

Dear LBank users:

The LBank futures transaction fee is:

Taker: +0.06%

Maker: +0.02%

What do "Maker" and "Taker" Mean?

Taker:

When you place an order that trades immediately, by filling partially or fully, before going on the order book, those trades will be "taker" trades.

Trades from Market orders are always Takers, as Market orders can never go on the order book. These trades are "taking" volume off of the order book, and therefore called the "taker."

Maker:

When you place an order that goes on the order book partially or fully such as a limit order, any subsequent trades coming from that order will be as a “maker”.

These orders add volume to the order book, helping to "make the market," and are therefore termed the "maker" for any subsequent trades.

How to calculate commission of USDT-margined futures

Commission fee = notional value * fee rate

Notional value = number of futures * trade price

For example, marker commission: 0.02%; taker commission: 0.060%

Buy 0.2 BTC BTCUSDT futures using Market order:

Notional value = number of futures * opening price

= 0.2 * 60,000

= 12,000 USDT

Taker commission fee is paid: 12,000 * 0.06% = 7.2 USDT

After the price rises, Sell 0.2 BTC BTCUSDT futures using Limit order:

Notional value = number of futures * closing price

= 0.2 * 70,000

 = 14,000 USDT

Maker commission fee is paid: = 14,000 x 0.02% = 2.8 USDT