Trading Fees Explained: Maker/Taker, Spread, Funding & Slippage (Complete 2026 Guide)
Trading Fees Explained: Maker/Taker, Spread, Funding & Slippage (Complete Guide)
Understand trading fees end-to-end: maker vs taker, spreads, funding rates, slippage, and how costs reduce your net PnL. Includes examples and checklists.
Trading costs shape your break-even, your win rate, and the true risk/reward of every setup. This pillar guide maps the full cost stack.
The five costs you must model
- Exchange fees (maker/taker)
- Spread (bid-ask)
- Slippage (execution worse than expected)
- Funding (perpetuals)
- Borrow, conversion, and withdrawal costs
Break-even math
If round-trip costs are 0.2%, price must move more than 0.2% just to break even. Small targets get crushed by costs.
Costs change true risk/reward
A clean 1:2 on the chart can be 1:1.6 after slippage and fees. Model stop slippage separately.
Practical cost stack checklist
Tool workflow
Related guides
Continue the Learning Path
Move to the previous or next lesson to keep your progress structured.
Previous lesson
This is the first lesson in this path.
Next lesson