| Venue | Taker fee % | Est. slippage % | Funding %/8h | Total cost |
|---|
Edit any venue's numbers to match live rates
Defaults are illustrative 2026 taker-fee tiers and typical funding — check live funding rates and each exchange's fee schedule before trading, then overwrite the fields above.
Fee headline vs true all-in cost
Exchanges compete on headline taker fees, but a perp position accrues three separate costs: the taker fee paid once on entry (and again on exit), slippage from walking the order book, and funding paid every 8 hours (or hourly on venues like Hyperliquid) for as long as the position stays open. Total cost = size × (fee% + slippage%) + size × funding%/8h × (hold hours ÷ 8).
Funding dominates for longer holds. A 0.01% fee saving is trivial on a scalp closed in minutes, but on a position held 3+ days, a persistent 0.01%/8h funding gap between two venues compounds to a real cost difference — often larger than the fee gap that got the trade routed there in the first place.
This calculator is a snapshot, not a live feed — funding rates change every settlement and slippage depends on real-time book depth. Use it to compare the shape of the cost (which cost component dominates for your hold time), then confirm live numbers before routing size.
Related: market impact (predict slippage), live funding rates, true trade cost, exchange token fee discount.
Frequently asked questions
What is best execution in crypto trading?
Routing your trade to wherever the total all-in cost — fee + slippage + funding over your hold time — is lowest, not just wherever the headline fee is lowest.
Why doesn't the lowest fee always win?
Funding accrues continuously. A small fee saving can be erased by a higher funding rate if you hold the position for more than a few hours.
How do I estimate slippage per venue?
Use the market impact calculator with each venue's daily volume, or check live order book depth for your size.
Does this include token fee discounts?
Enter your effective fee % after any BNB/OKB-style discount already applied — the calculator doesn't apply discounts automatically.