The cumulative logic
Fees are charged on notional, once on the buy and once on the sell, so start with one round trip and multiply by trading frequency.
Day trading looks cheap per trade because the size and single-side rate are small, but across many trades the annual total is usually far larger than most people assume.
Formulas
trade size × fee ratesingle-side fee × 2round trip × round trips per day × 365annual total ÷ trade size × 100%Worked example (recompute it yourself)
At 5,000 USDT per trade and a 0.05% rate: single-side fee = 5,000 × 0.05% = 2.50 USDT, one round trip = 5.00 USDT.
At 20 round trips a day: daily fee = 5.00 × 20 = 100 USDT; annual total = 100 × 365 = 36,500 USDT.
That is 730% of the 5,000 USDT trade size, and also 0.05% of the 73 million USDT annual turnover — the rate itself.
Notes
Rates vary by venue, VIP tier and whether platform tokens are used for discounts. Use your own account rate.
Slippage and funding rates are excluded; any short-term or grid strategy should subtract fees before judging viability.
FAQ
What about 10 round trips a day at 1,000 USDT and a 0.1% rate?
Single-side 1.00 USDT, round trip 2.00 USDT, daily 20 USDT, annual = 20 × 365 = 7,300 USDT.
Why count the fee twice?
Because buying and selling are two separate fills, each charged on its notional. Counting one side only badly understates the cost.