Kalshi fees.

When charged

On orders matched immediately. A resting order pays only in a series with maker fees, and only when it executes; cancelling costs nothing.

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Multiplier M

1 for takers and 0 for makers, unless a series is listed with its own

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Most markets

Multiplier 1, a taker fee of $0.07 to $1.75 per 100 contracts

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Other series

157 series carry their own multipliers; some charge maker fees of $0.02 to $0.44 per 100 contracts and some charge no fee

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Combos

The maker fee is 50% of the taker fee

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Series with no fee

KXBTCY (BTC price range EOY) lists a maker and taker multiplier of 0

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For one contract at 1¢, the formula gives $0.000693, which rounds to $0.0007 at a hundredth of a cent. Kalshi’s fee schedule says the fee rounds up so that the fee plus the position cost lands on a centicent, yet its table charges $0.01.

Kalshi’s fee rounding documentation explains the gap: the fee first rounds up to $0.000001, then a rounding fee brings the balance to its precision, $0.01 for a non-direct member and $0.0001 for a direct member of the exchange. The table follows the $0.01 rule, which is why 100 contracts at 5¢ cost $0.34 there, against $0.3325 at a hundredth of a cent.

Rounding

Up, so the fee plus the position cost lands on a centicent

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Balance precision

The fee rounds up to $0.000001, then a rounding fee aligns the balance to $0.01, or $0.0001 for direct members

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The fee schedule publishes no volume discount and no cap for event contracts. The formula carries its own ceiling: P x (1-P) is largest at 50¢, where it equals 0.25, so at multiplier 1 a contract costs at most $0.0175 as a taker and $0.004375 as a maker, before rounding. One contract on its own rounds up to $0.02.

Volume tiers exist for Kalshi’s perpetual futures, not its event contracts. Their fees fall with 30-day trailing perps plus prediction volume, so prediction trading counts toward a perps tier while event contract fees stay on the formula above.

Designated market makers can receive reduced fees by agreement with Kalshi, and liquidity programs pay rewards for resting orders. More than $600 of incentive credits in a calendar year is reported to the IRS; Kalshi lists the 1099-MISC for credits and rewards (what Kalshi sends you).

Volume discount

None published for event contracts

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Fee cap

None published beyond the formula’s own ceiling

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Most per contract

$0.0175 as a taker and $0.004375 as a maker at multiplier 1, at a 50¢ price, before rounding

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Perpetual futures

Taker 12.0 to 2.6 bps and maker 5.0 to 0.6 bps, tiered by 30-day trailing perps plus prediction volume

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Perps fee rates

Tiered by trading volume

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Market makers

Designated market makers who meet quoting and volume requirements may receive reduced fees

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Liquidity providers

Members under a Market Maker Agreement can earn rewards in a series’ incentive periods

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Liquidity incentives

Rewards paid for resting orders that improve liquidity, separate from the fee

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Incentive credits

More than $600 in a calendar year is reported to the IRS, and needs an SSN on file

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Settlement

No fee

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Membership

No fee

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Bank transfer (ACH)

No fee to deposit or withdraw

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Wire

No Kalshi fee on deposits; banks set their own. Wire withdrawals are not supported under $500,000

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Debit card deposit

Up to 2%

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Crypto

Set by Kalshi’s payment processor and shown before the transaction

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Through a broker (FCM)

The futures commission merchant may charge its own fees

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Each fill

Kalshi’s API reports the fee on every fill as fee_cost, in fixed-point dollars

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P&L statement

Its profit and loss figure includes fees and any rebates

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Fees

A transaction fee on each trade’s expected earnings

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