The four costs of a trade
Every round trip pays up to four things: the exchange fee on entry, the exchange fee on exit, half the spread on each side (you buy at the ask and sell at the bid), and any network fee to move coins on or off the venue. The exchange fee is the visible one. The spread is invisible, and on thin markets it can be larger. On decentralized exchanges the pool fee plays the role of the exchange fee and gas plays the role of the network fee; the AMM guide covers slippage, which is the DEX version of spread.
Round trip and break-even
Break-even is the price move at which proceeds after exit costs equal what you paid including entry costs. It's a little more than the sum of the percentages, because the exit fee is charged on a larger amount if the price rose.
Maker versus taker
A maker order rests on the book and is filled by someone else. A taker order hits an existing order. Exchanges charge makers less, sometimes nothing, because makers provide the liquidity the venue sells. If your strategy allows limit orders, the difference between maker and taker tiers is often larger than the difference between exchanges.
Frequently Asked Questions
The guides behind this calculator
- Ethereum gas fees What drives the network fee on the largest smart contract chain.
- AMMs and liquidity pools Pool fees and slippage on decentralized exchanges.
- Position sizing Why fee drag matters more as trade frequency rises.
More calculators
Formulas last reviewed 2026-09-10. Educational tool, not financial advice. Results depend entirely on the numbers you enter.