What is a Crypto Exchange Fees Calculator?
The cryptocurrency exchange fees calculator serves as a valuable tool for traders to estimate the trading commissions associated with buying or selling digital assets. It also facilitates the comparison of fees structures among numerous exchanges to identify the platform with the most competitive trading commissions for a specific token.
By utilizing this calculator, traders can ascertain the exact amount charged by an exchange for pending orders (maker fees) and instant orders (taker fees) in the designated fee currency. Maker fees are applied to pending orders, such as sell stop orders or buy limit orders, while taker fees are incurred for instant orders like market orders.
Using the Crypto Exchange Fees Calculator
Exchange/Provider: Select from a wide range of CEXs and DEXs, including renowned crypto exchanges like Binance, Bybit, Kraken, and Coinbase. For this example, let’s choose the FTX exchange.
Fees Denomination: Choose the cryptocurrency or fiat currency used to pay the trading fees. The calculator will present the results based on the selected fee denominator. In our case, we will select the FTT (FXT token).
Buying/Receiving: Indicate the currency you intend to buy or sell. The calculator supports thousands of cryptocurrencies and fiat currencies, making it versatile for exchanges that support fiat-to-crypto trading pairs like EUR/USDT. Let’s assume we want to purchase SHIB tokens, so we select Shiba Inu.
Paying with/Selling: Choose the currency you will use to make the payment or sell. This should be the counterpart to the buying/receiving currency selected earlier. In our example, we want to trade SHIB/USDT on the FTX exchange, so we choose USDT.
Amount (1): Simply enter the desired quantity of tokens for buying or selling. In our case, we wish to buy 10 million SHIB tokens, so we input 10,000,000.
Amount (2): This field automatically displays the transaction value converted into the paying with/selling currency selected earlier. In our example, buying 10 million SHIB tokens at the prevailing SHIB/USDT rate on the FTX exchange would cost us 102.18 USDT.
Click the Calculate button.
The results: The calculator employs the most recent maker and taker fees provided by each CEX or DEX for accurate calculations. In our example, a pending order (buy limit) to acquire 10 million SHIB tokens would incur 0.000878 FTT in trading commissions.
Alternatively, if we opt for a market order to instantly purchase 10 million SHIB tokens, we would be subject to taker fees. According to our crypto exchange fees calculator, the taker fees for this transaction would amount to 0.00307 FTT.
Additionally, the calculator offers an option to set a custom fee rate, which proves beneficial for traders on different fee tiers with discounted rates. Users can also access the crypto exchange fee schedule by clicking on a link to explore various tiers and fee structures.