What's the fee on a $1,000 trade on Binance and OKX?
Short answer
At regular-user spot rates, one $1,000 trade costs: Binance $1 ($0.75 if you pay with BNB); OKX $0.80 maker, $1 taker. With referral code FAIRR you get 20% off trading fees: $0.20 off a $1 fee, paid into your account by the exchange.
Binance
$1
0.1% maker and taker; $0.75 with BNB
OKX
$0.80–$1
Maker 0.08%, taker 0.1%
With a referral code
20% off
$0.20 off a $1 fee
How it's worked out
Trade amount × fee rate
Regular users, spot
How it's worked out
Fee = trade amount × fee rate: $1,000 × 0.1% = $1
Maker or taker: an order that waits at your price is maker; one that fills right away at the current price is taker. OKX maker is 0.08%, a bit cheaper than taker
If you signed up with a referral code: discount = fee × 20%, paid into your account by the exchange; no trades, no discount
What you effectively pay = fee − discount: $1 − $0.20 = $0.80
One $1,000 trade (regular-user spot)
Binance
- Fee rate
- 0.1% maker and taker
- Fee
- $1
- Referral code discount
- 20% off: $0.20
- Effectively paid
- $0.80
- Paying with the exchange token
- 25% off with BNB: $0.75
OKX
- Fee rate
- Maker 0.08%, taker 0.1%
- Fee
- $0.80 maker, $1 taker
- Referral code discount
- 20% off: $0.16 maker, $0.20 taker
- Effectively paid
- $0.64 maker, $0.80 taker
- Paying with the exchange token
- See OKX's page
The exchange has the final word
FAQ
How much would I save in a year at my monthly volume?
Use the calculator: enter your monthly trading volume.
When does the discount arrive?
Binance works it out hourly and pays it in USDC to your spot account within 6 hours; for OKX, see OKX. If it hasn't arrived, see why the fee discount hasn't arrived.
I'm a VIP. Is it the same?
No. The numbers above use regular-user (no VIP level) spot rates; VIP rates are on the exchange's fee page.
The more I trade, the more I save. Should I trade more?
Don't trade more for the discount. It's only part of the fee; trading more means paying more fees.
Someone says if I send them money first, I'll get a bigger discount. Is that real?
No. The exchange pays the fee discount into your own account at the rate set in the referral code, and you don't pay anyone anything; being asked to send money first is a warning sign.