Before transferring money into a Binance Official Website account or opening the Binance Official App to start trading, most people are primarily concerned about how much fees will be deducted (Apple users can refer to the iOS Installation Guide to install the app first). To give the conclusion straight away: The standard spot trading fee rate on Binance is 0.1%, which drops to 0.075% when using BNB for deduction; Perpetual futures default maker fee is 0.02%, and taker fee is 0.05%; P2P crypto purchases have 0 fees for both buyers and sellers; On-chain withdrawals charge a fixed miner fee depending on the token and network. Below is a detailed breakdown of each part.
Spot Trading Fees
Spot is the most commonly used function, and its fee structure is the simplest:
Standard Rate (Regular VIP 0)
- Maker: 0.1000%
- Taker: 0.1000%
This is the default rate when BNB deduction is not enabled and VIP level is not upgraded. That means for every 10,000 USDT worth of crypto you buy or sell, Binance charges 10 USDT as a fee.
After Enabling BNB Deduction
Binance allows you to pay fees using BNB, which automatically applies a 25% discount once enabled:
- Maker: 0.0750%
- Taker: 0.0750%
This means for every 10,000 USDT, you are only charged the equivalent of 7.5 USDT in BNB. To enable it, turn on the "Using BNB to pay for fees" switch on the Assets page. You must have a BNB balance in your account for it to take effect.
VIP Level Discounts
When your 30-day trading volume or BNB holding reaches a certain threshold, your VIP level will automatically upgrade, and the fee rates will decrease progressively:
| VIP Level | 30-Day Trading Volume (BTC) | BNB Holding | Maker | Taker |
|---|---|---|---|---|
| VIP 0 | < 1 BTC | - | 0.1000% | 0.1000% |
| VIP 1 | ≥ 1 BTC | ≥ 25 BNB | 0.0900% | 0.1000% |
| VIP 3 | ≥ 50 BTC | ≥ 100 BNB | 0.0750% | 0.0900% |
| VIP 5 | ≥ 500 BTC | ≥ 600 BNB | 0.0500% | 0.0600% |
| VIP 9 | ≥ 150,000 BTC | ≥ 5500 BNB | 0.0200% | 0.0400% |
The taker rate for VIP 9 is only 0.04%, and with BNB deduction, it can be reduced by another 25%. Ordinary users can generally achieve VIP 3-4, which is already quite good.
Futures Trading Fees
Binance's futures are divided into USDT-M Futures and COIN-M Futures, with identical fee structures:
USDT-M Perpetual Futures (Standard)
- Maker: 0.0200%
- Taker: 0.0500%
This means opening a position of 10,000 U incurs a fee of 2 U or 5 U. Futures fees seem low, but because of leverage magnification, if you use 10x leverage, you are actually operating 100,000 U, and the true fee is 20-50 U.
COIN-M Perpetual Futures
- Maker: 0.0100%
- Taker: 0.0500%
The Maker fee here is half as cheap as the USDT-M counterpart.
BNB Deduction and VIP Discounts
Futures also support BNB deduction for fees (10% discount, not 25%) and VIP level rate reductions. The USDT-M Maker rate for VIP 9 can be as low as 0.0000% (0 fee), and Taker as low as about 0.017%.
Funding Rate (Not a fee, but important to know)
Perpetual futures also have a Funding Rate, which settles every 8 hours. Longs pay shorts or vice versa. This does not go to Binance, but depends on market sentiment, usually around ±0.01%. If you hold a position for a long time, you must consider this cost.
P2P Crypto Purchase Fees
This is the cheapest channel for fiat deposits:
- Buyer Fee: 0
- Seller Fee: 0
This means using fiat to buy USDT via P2P does not incur any fees from Binance. The only cost you pay is the spread between the merchant's quote and the market price, usually between 0.3% and 0.8%.
However, note: The merchant's bank channel for receiving fiat may have intrinsic costs (such as transfer fees), which are not covered by Binance.
Credit/Debit Card Crypto Purchase Fees
If you don't want to use P2P and directly swipe a card to buy crypto:
- Card Fee: About 1.8%-3.5% (charged by card networks and channel providers)
- Exchange Rate Markup: About 1%-2%
- Binance itself charges almost nothing
The total cost is about 3%-5%, much more expensive than P2P, but it's fast and easy to operate, suitable for emergencies.
Deposit and Withdrawal Fees
Deposits
Deposits of all cryptocurrencies across all networks have 0 fees. You only need to pay the on-chain miner fee (if transferring from an external wallet).
Withdrawals
Withdrawals require paying an on-chain transfer fee, which is a fixed amount (not a percentage), varying by cryptocurrency and network:
| Cryptocurrency | Network | Withdrawal Fee |
|---|---|---|
| USDT | TRC20 | About 1 USDT |
| USDT | BEP20 | About 0.29 USDT |
| USDT | ERC20 | About 2.5-5 USDT (fluctuates with ETH gas) |
| BTC | BTC Mainnet | About 0.00005-0.0002 BTC |
| BTC | BEP20 | About 0.0000029 BTC (extremely cheap) |
| ETH | BEP20 | About 0.00025 ETH |
| ETH | ERC20 | About 0.0014-0.005 ETH |
Beginners should remember one thing: for large withdrawals, use TRC20 or BEP20. The ERC20 mainnet might charge tens of dollars in fees during periods of high market volatility.
Earn and Other Product Rates
- Flexible Earn: 0 subscription and redemption fees, APR 1%-5% (USDT).
- Locked Earn: 0 subscription and redemption fees, APR 3%-12% (the longer the lock, the higher).
- Dual Investment: 0 fees, but entails settlement price difference risks.
- Launchpad: 0 fees.
- Liquidity Farming: 0 fees, entails impermanent loss risk.
How to Save on Fees
Here are a few practical tips for long-term fee reduction:
Step 1: Enable BNB Deduction
Keep some BNB in your account, go to "Assets" → "Using BNB to pay for fees" and turn on the switch. Spot fees immediately get a 25% discount. Futures get a 10% discount. This is the easiest way to save money.
Step 2: Register Using a Referral Code
When registering, filling in someone else's referral code allows you to get a fee rebate (usually 10%-40%). Binance's official referral code promotion is permanently valid.
Step 3: Use Limit Orders Instead of Market Orders
Make a habit of using limit orders placed at the best bid/ask prices, making you a Maker instead of a Taker. For some trading pairs, the Maker rate is lower than the Taker rate.
Step 4: Increase Your VIP Level
If your trading volume is genuinely large, holding BNB (easiest) or increasing trading volume can elevate your VIP level.
Frequently Asked Questions
Q1: Are Binance's fees expensive compared to other major exchanges?
A: No. Binance's spot 0.1% is in the lower-middle tier of the industry. It's cheaper than Coinbase Standard (about 1%) and Kraken (0.16%/0.26%); and close to OKX and Bybit (both around 0.08%/0.1%). Combined with BNB deduction, Binance is one of the cheapest mainstream exchanges.
Q2: What happens if I enable BNB deduction but have no BNB in my account?
A: The fee will be deducted in the default cryptocurrency (usually the one you are selling), and you will not enjoy the discount. Therefore, it is recommended to always keep 100-500 U equivalent of BNB in your account to automatically enjoy the 25% discount, which is basically never a loss.
Q3: Does Binance earn the withdrawal fees?
A: Mostly no. Withdrawal fees are primarily on-chain miner fees (paid to miners/validators). Binance adds a tiny margin, but it constitutes a very small portion. This is also why when the ETH mainnet gas skyrockets, Binance's ERC20 withdrawal fees rise accordingly.
Q4: Are fees charged upon liquidation of futures positions?
A: A liquidation fee is charged upon forced liquidation (about 0.5%-2%, depending on the token and leverage). This is collected by the insurance fund, not Binance. Added to the opening fee, the total cost of futures is far higher than spot. It is strongly recommended for beginners to practice with spot first.