Perp Fees: Your Effective Rate After a Rebate

How are perpetual (perp) fees calculated? The formula is fee = notional value × fee rate, with perp taker around 0.05%. What really matters is the effective rate after rebate: effective rate = base rate × (1 − rebate rate). On Binance 0.05% taker with a max 40% rebate, the effective rate drops to about 0.03%; Gate's 70% rebate takes it to about 0.015%. Here's the table.

How is the fee calculated?

Fee = notional value × fee rate. Maker (posted, filled passively) is usually lower than taker (market, filled aggressively). At perp taker 0.05%, a 10,000 USDT notional fill costs about 5 USDT. For the maker/taker difference, see what maker/taker fees are.

Effective rate after rebate

Rebate pulls down the rate you actually bear. Effective rate = base rate × (1 − rebate rate). Using each exchange's reference perp taker rate and max rebate:

• Gate: 0.05% × (1 − 70%) = ~0.015% (lowest)
• Binance: 0.05% × (1 − 40%) = ~0.03%
• Bitget: 0.06% × (1 − 50%) = ~0.03%
• Bybit: 0.055% × (1 − 40%) = ~0.033%
• OKX: 0.05% × (1 − 20%) = ~0.04% (public 20%; lower after extra via support)

Why the effective rate beats grinding VIP tiers

Lowering fees via an exchange's VIP tier usually needs large volume or big token holdings; a rebate applies directly to every fee and works the moment you bind. On Gate, the max rebate cuts the effective rate from 0.05% to about 0.015% — a 70% cut most people can't reach on VIP upgrades alone. For how rebate is composed, see exchange auto-rebate vs extra rebate.

How to lower your effective rate

Register with a referral code and bind your UID on the rebate platform (Quant Nova) — the rebate applies automatically. To compare exchanges, see the 2026 rebate ranking.

FAQ

How are perp fees calculated?

Fee = notional value × fee rate. Perp taker is ~0.05%, so a 10,000 USDT notional fill costs about 5 USDT; maker is usually lower.

What does "effective rate" mean?

It's the rate you actually bear after rebate = base rate × (1 − rebate rate). E.g. 0.05% taker with a 40% rebate gives an effective rate of about 0.03%.

Does rebate directly lower the fee shown when I place an order?

It doesn't change the rate shown on the exchange; rebate refunds part of the fee afterwards (some exchanges use charge-then-refund), which is equivalent to lowering your effective rate.

Which exchange has the lowest effective rate after rebate?

At max rebate, Gate is lowest at ~0.015%, followed by Binance/Bitget at ~0.03%. Actual figures depend on your VIP and rebate tier.

Why is OKX counted at 20%?

OKX policy only permits advertising up to 20%, so the effective rate is computed at 20%; it's lower once you arrange the extra via support.

For how tokenized stock fees and funding compare, see tokenized stock perp fees: listings, liquidity and funding measured.

These are estimates at reference fee rates; actual fees and rebate follow the exchanges' official pages and the live Quant Nova platform. This article is for information only and is not investment advice.