Perpetual Futures Trading Fee Description

When trading futures on the MGBX platform, users are required to pay corresponding fees. The following provides a detailed explanation:

1. Types of Fees

• Opening Fee
  Fee incurred when opening a new position.

• Closing Fee
  Fee incurred when closing a position.

2. Fee Structure

• Maker Fee
  Fee charged when placing an order that adds liquidity to the market.

• Taker Fee
  Fee charged when matching an existing order, which removes liquidity from the market.

3. Fee Rates

• Taker Fee: 0.05%

• Maker Fee: 0.03%

Calculation Formula:
Fee = Opening/Closing Price ✖ Quantity ✖ Fee Rate

Explanation of Maker and Taker Fees:

On our platform, Maker and Taker fees differ because they play different roles in trading.

• Maker Fee:
  A Maker is a user who places an order that adds liquidity to the order book. This includes buy or sell orders that do not get matched immediately. Makers help improve market liquidity and are charged lower fees.

• Taker Fee:
  A Taker is a user who matches their order with an existing one, removing liquidity from the order book. Since this reduces market liquidity, Takers usually pay higher fees.

Summary:
Maker (limit orders that don’t execute immediately) fees are lower because they increase market liquidity. Taker (market orders or limit orders that execute immediately) fees are higher because they reduce liquidity.
Note: Limit orders that are executed immediately are also considered Taker orders. For details, refer to the platform's Limit Order Guide: Introduction to Perpetual Futures Orders.