1. Start with the full notional
A $100,000 position attracts fees on $100,000, not just the margin posted. At 4.5 basis points the entry fee is $45. Entering and exiting the same notional at that rate costs $90 before spread, slippage or funding. One basis point is 0.01%.
2. Make the assumptions comparable
Compare the same instrument, direction, notional and approximate time. Distinguish retail, professional and API account conditions. A resting maker order may not fill; a limit order that crosses the book can incur taker fees.
3. Inspect execution for that size
For a quoted venue, inspect the quote available for the whole order. For an order book, inspect the prices and quantities needed to fill it. Neither venue-wide volume nor open interest establishes what your order will cost.
4. Add the relevant costs
Explicit trading fees are just one component. Spread, market impact, funding over the holding period, and transfer or builder charges may matter. PERPSIZE currently calculates published fee scenarios, not an all-in execution estimate.
5. Check whether you can place and manage the position
Confirm instrument availability, account eligibility, position caps, margin requirements, market hours and liquidation terms directly with the venue. A displayed comparison is not confirmation that a particular trade is available to you.
Use a shortlist, then verify
Our editorial favorite, Omni, offers a quoted alternative to order-book execution. Hyperliquid and Lighter provide useful comparisons with different fee and account conditions. Compare their actual offers before choosing.
Compare fees for your size → · Read our definitions and coverage limits