> For the complete documentation index, see [llms.txt](https://docs.position.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.position.exchange/products/trading-protocol/beginners-guide/position-exchanges-futures-transaction-fees.md).

# Position Exchange's Futures Transaction Fees

**Futures transaction fees:**

The transaction fee is calculated based on your notional value

**How are transaction fees calculated?**

Formula for Perpetual transaction fees:

Transaction fee = Notional value × Transaction fee rate

Nominal value = Order Quantity × Order Price (Avg. Price for Market Order)

For Position Exchange users, Maker fees are 0.01% and Taker fees are 0.02%.

Buying 1 BTCBUSD Futures Contract using a Market Order and leverage of 10x:

> Suppose that the average filled price is 49,000 BUSD

Notional value

\= Order Quantity  × Order Price (Avg. Price for Market Order)

\= 1 BTC × 49,000

\= 49,000

Then, there is a transaction fee of 49,000 × 0.02% = 9.8 BUSD.

Initial Margin

\= Order Quantity / Leverage \* Order Price (Avg. Price for Market Order)

\= 1/10 \* 49,000

\= 4,900 BUSD

So the final amount you need to pay to open a Market order is 4,909.8 BUSD.

{% hint style="info" %}
Note: Before opening a position on Position Exchange, you should be aware that you will need to pay the gas fee for the blockchain because all transactions happen on-blockchain. The amount of the gas fee will depend on the source chain.
{% endhint %}