Compare the approach
Choose a method by its requirements, costs, and evidence. This starting framework is not a ranked provider list.
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| Approach | Use case | What to verify | Main limitation |
|---|---|---|---|
| Maker execution | Providing resting liquidity | Actual fill status and applicable fee tier | Unfilled orders and adverse selection |
| Taker execution | Trading against available liquidity | Fee tier, depth, spread, average fill | Slippage and higher execution costs |
| Long position | Positive price exposure | Contract terms, margin, funding sign | Adverse price movement and liquidation |
| Short position | Negative price exposure | Contract terms, margin, funding sign | Adverse price movement and liquidation |
Compare like with like
Trading fees and funding are usually calculated from exposure under the contract's rules, not simply from the margin you deposit.
Keep assumptions visible
Use the same amount, market, network, time window, and cost basis when those factors apply. Record the original source and check date for product-specific information. A low advertised fee is incomplete without the conditions that make it available.
Check the evidence
Separate an actual test result from a calculation or a statement in product documentation. A review should describe its method, scope, and unresolved questions. We do not assign star ratings or publish benchmark winners without evidence.
Run the numbers
Estimate entry fees, exit fees, and constant-rate funding. All rates are your assumptions, not current exchange quotes.
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Understand the mechanics
Work through perpetual futures fees and funding using clear examples. Understand notional exposure, long and short funding direction, and model limits.
Fees, funding & notional