How to calculate contract transaction fees?

Ouyi distinguishes between ordinary users and professional users based on their trading volume. Ordinary users are divided into different levels based on their OKB holdings, and professional users are divided into different levels based on their trading volumes. Different levels determine the transaction fees for the next day. In addition, the transaction fees for placing orders and taking orders are also different.

1. Calculation formula for handling fee

User level lv1: Taker fee 0.05%, Maker fee 0.02%

Opening Fee for Currency-Based Contracts = Face Value * Number of Opening Contracts / Opening Price * Fee Rate

Currency-margined contract closing fee = par value * number of closed contracts / closing price * fee rate

USDT contract opening fee = par value * number of positions opened * opening price * fee rate

USDT Contract closing fee = face value * number of closed positions * closing price * handling fee rate

Example 1: Open a BTC contract with a price of 10,000 and a quantity of 100 contracts, with a handling fee level of 1 . If all orders are filled, the handling fee = 100*100/10,000*0.0005 = 0.0005 BTC

Example 2: USDT contract BTC Opening a contract, the price is 10000. The quantity is 100 contracts, the handling fee level is 1 , all orders are filled according to the taker, then the handling fee = 100*0.01*10,000*0.0005 = 5 USDT

2.Service fee rate

Taking perpetual contracts as an example,The handling fee details of BTC, ETH, LTC, BCH, BSV, ETC, EOS, TRX, XRP and other currencies are as follows:

To learn more, click on the link:Related rate details

3.Explanation of specific concepts

1. Total OKB holdings

When calculating the total OKB holdings of a user, the total OKB holdings of the user's fund account, currency account, and currency leverage account in the parent and child accounts will be calculated. (The assets stored in Yubibao are not calculated for the time being)

2. Explanation of parent-child accounts

The user level of the parent account is determined based on the total transaction volume of all sub-accounts in the last 30 days, combined with the OKB holdings. After the sub-account is created, it will inherit the fee rate level of the master account after 24:00 on the same day (Hong Kong time).

3. 30-day trading volume

The trading volume of contract transactions in the last 30 days is calculated based on the BTC-USD price. The trading volume is converted into BTC, and then converted into USD according to the daily BTC/USD mid-price (BTC/USD mid-price = (opening price + closing price)/2), and settled at 0:00 UTC time every day. The cumulative trading volume of all contract trading currencies in the previous 30 days is calculated.

For example, if a user has traded BTC, ETH, and ETC coin-margined margin contracts in the past 30 days, the system will convert the trading volume of BTC, ETH, and ETC (contract face value*number of contracts) into BTC at the BTC USD price, and then convert it into USD according to the daily BTC/USD mid-price (BTC/USD mid-price = (opening price + closing price)/2, and then calculate the cumulative trading volume of the previous 30 days at 0:00 (HKT) every day.

4. Order placing and order taking

A pending order means that when you place an order at the specified price, it will not be immediately traded with other orders in the depth list, but will enter the depth list and wait for the other party to take the initiative to trade with your order. This behavior is called a pending order. For example, the current selling price is 1000 USD, and you place a buy order at 999 USD. At this time, the trading conditions are not met, so your order will enter the buy order list in the depth list and wait for others to trade with you at the selling price of 999 USD. At this time, if your order is traded, you will pay the pending order fee. Otherwise, you will pay the taker fee.

5. Liquidation

The liquidation fee is charged according to the Taker rate of the user’s current level.

6. Daily withdrawal limit

The platform determines the user's daily withdrawal limit based on the fee level. All the user's currencies will be converted into USD. The total amount after conversion cannot exceed the withdrawal limit of the corresponding level.

For example, a user has completed identity verification, and the daily withdrawal limit is 300 USD. If the user withdraws 250 USD on the same day, OMG worth 25 USD (converted at the price of OMG to USD when the withdrawal is initiated, and the same applies to other currencies) and XUC worth 15 USD, then the cumulative withdrawal limit of 290 USD is used on the same day, and the remaining withdrawal limit is 10 USD. At this time, if the user applies to withdraw XRP worth 20 USD, it will be rejected by the system. If you want to obtain a withdrawal limit beyond the level limit, please contact the customer service manager.

The withdrawal limit is also affected by the user's identity authentication level.