"The trading fee for each transaction is calculated based on the underlying asset's Spot Index price at the time of the order completion (capped at 10% of the option's value)."
The line above is from Binance Support's Binance Options Trading Fees page, marked updated 2026-03-06, which we checked in October 2026. The sentence says the cap is 10% of the option's value, but the formula on the same page uses the option traded price, i.e. the premium you paid (the liquidation line does the same with 25%); we follow the formula. In working terms: per contract, take 0.024% × index price × contract unit, compare it with 10% × the premium you traded at, keep the smaller one, then multiply by the number of contracts. You pay it once when you open and again when you close.
So the base is the underlying's index price. Whether your option cost a lot or a little mostly doesn't move the fee; the premium only comes into it once it is low enough for the 10% cap to bite. Hold to expiry and get exercised, and a separate exercise fee of 0.015% of the settlement price applies, also capped at 10%. Get liquidated and it is 0.19%, with the cap widened to 25%. These are the rates on the current FAQ and fee table. The table also shows a second set at 0.030%, covered in section six. What actually leaves your account is whatever the order screen quotes at the time.
1. Three charges and what each is based on
The FAQ opens with "Options fees have two components: the Trading Fee and the Exercise Fee." Keep scrolling and the same page describes a third one, the liquidation fee. Here are all three side by side:
| Charge | When | Priced off | Rate | Cap |
|---|---|---|---|---|
| Trading fee | On open and on close | Underlying spot index at fill | 0.024% | 10% of traded premium |
| Exercise fee | When the option is exercised | Settlement price | 0.015% | 10% of option value |
| Liquidation fee | When the position is liquidated | Underlying spot index at liquidation | 0.19% | 25% of the liquidated option's premium |
Rates and caps from the official Binance Options Trading Fees FAQ (updated 2026-03-06) and the options fee page, checked October 2026. They can change; the order screen at the time is what counts.
The English page labels the 0.19% line "Exercise fee rate"; it is the liquidation rate.
The column people skip is "priced off". As long as the cap isn't in play, the same option costs 10% more in fees when the underlying moves from 2,000 to 2,200, even if the option's own quote has barely changed.
2. Which side the 10% cap lands on: two tickets, same underlying
These are made-up numbers for illustration, sized like the official example: index price 2,000 USDT, contract unit taken as 1 (check the contract details for the real unit).
| Example | Near the money | Far out of the money |
|---|---|---|
| Premium traded | 100 USDT | 3 USDT |
| 0.024% × 2,000 × 1 | 0.48 | 0.48 |
| 10% × premium | 10 | 0.30 |
| Smaller of the two = fee per contract | 0.48 USDT | 0.30 USDT |
| Fee as a share of premium | 0.48% | 10% |
Illustration only, not an official quote; trading fee rate taken as 0.024%.
In cash, the two fees are only 0.18 USDT apart. As a share of what you paid, they are about 21 times apart (10% ÷ 0.48%). The near-the-money ticket is nowhere near its cap, so you pay the index-based figure. On the cheap ticket, the index-based figure works out to more than a tenth of the premium, so the cap takes over and the fee sits at exactly 10%.
You can find the crossover directly: 0.024% ÷ 10% = 0.24%. Once the premium falls below index price × contract unit × 0.24%, the cap is what you pay. In the example that is 4.8 USDT. That rule is our own derivation from the official formula; the page doesn't spell it out.
One step further, still our arithmetic: the fee is charged on the way in and on the way out, so buying that 3 USDT ticket and selling it back at 3 USDT costs 20% of the premium in fees. For lottery-ticket options at a few USDT each, we'd knock that 20% off the payoff before deciding whether the odds still look interesting. And remember that a bought option which expires worthless loses the whole premium, while a liquidated position also pays the liquidation fee from section five.
3. Redo the sum on one of your own fills
Take one options fill from your history and run it through four steps:
- Note the fill price (premium per contract), the size, and the underlying's index price at the moment of the fill. If the record doesn't show the index price, use one from around that time and expect a small gap.
- Find the contract unit in the contract details and work out a = 0.024% × index price × contract unit.
- Work out b = 10% × fill price.
- The fee should come out close to min(a, b) × size.
Most results land in one of three places. Close to a × size: charged on the index, as expected. Close to b × size: the cap applied, also normal, and a sign your premium was small. Matching neither, but matching once you swap in 0.030%: that contract may sit outside the promotional rate. That last reading is our inference; section six explains why.
If it still won't reconcile, pull your full fee history and filter out the options rows, the same way checking what you actually paid in fees walks through for other products.
4. Holding to expiry: the exercise fee
The official line: "Exercise fees are charged whenever the Options is exercised." Set out with the page's variable names, the formula is:
Exercise Fee = Minimum (Exercise Fee Rate × Settlement Price × Contract Unit, 10% × Option Value) × Position Size
The exercise fee rate is 0.015%. "For Call Options: Option Value = Settlement Price - Strike Price", and for a put it runs the other way, strike minus settlement. The official example is a call settling at 2,200 with a 2,000 strike, three contracts: Min[0.015% × 2,200, 10% × (2,200 − 2,000)] × 3 = 0.99 USDT.
Here the cap is tied to option value, meaning what the option is actually worth at expiry. Options that finish only just in the money are the ones that hit it. Example: settlement 2,001, strike 2,000, option value 1 USDT, so the cap is 0.1; 0.015% × 2,001 is about 0.30; the smaller one wins and the exercise fee is 0.1 USDT per contract. Deep in the money, it flips and you pay the settlement-based figure.
An option that expires out of the money has no option value, so it shouldn't reach exercise at all and there is no exercise fee to speak of. The official page doesn't address that case separately; this is our reading of it.
5. Liquidation: 0.19%, capped at 25%
The liquidation fee is worked out from the underlying's spot index price at the time of liquidation, "capped at 25% of the option's value", per the same FAQ. Its formula, again using the page's variable names:
Liquidation Fee = Minimum (Liquidation Fee Rate × Index Price × Contract Unit × abs(Position Size), Liquidated Option Premium × 25%)
At 0.19%, the liquidation rate is roughly eight times the 0.024% trading rate (0.19 ÷ 0.024 ≈ 7.9). With the same index of 2,000 and a unit of 1, the rate side comes to 3.8 USDT per contract, against 0.48 for closing the position yourself. The cap also loosens from a tenth to a quarter.
Which positions can be liquidated and how margin works are outside this FAQ page, and outside this piece too.
6. The two sets of numbers on the fee table
The options fee page lists tiers by 30-day options volume in USDT: Regular User below 100,000,000, VIP 4 at 100,000,000 or more, VIP 5 at 250,000,000, and so on up to VIP 9 at 1,500,000,000 USDT. Every row shows the same two maker/taker pairs: 0.0240%/0.0240% and 0.0300%/0.0300%. Above the table: "Please note that the promotional rates below apply only to Crypto Options contracts listed after August 4, 2025." (Checked October 2026.)
Two things you can read straight off the table. Maker and taker are priced the same, so posting a resting order saves nothing on crypto options; on spot the two do differ, as the maker vs taker gap covers. And since every tier carries the same numbers, a higher VIP tier doesn't cut options fees right now. The page adds that "VIP upgrades are processed on a weekly basis", and 100,000,000 USD of 30-day options volume can fast-track you to VIP 4 (see VIP tiers and how to reach them). Whatever that tier buys you, it shows up on other products; the options row stays where it is on the current table.
The same page runs a commodity options promotion: "0.000% Maker Fee and 0.020% Taker Fee for all users. Promotion period: 2026-07-29 10:00 (UTC) until further notice." Commodity options aren't part of the sums here. The only point worth noting is that over there, maker and taker are priced differently.
7. Where options sit in your total cost
Spot is charged on the traded amount, futures on notional value, and options on the underlying's index price with the premium as a ceiling. Because each product starts from a different base, comparing them means converting each one separately. The spot-versus-futures side is worked through in spot vs futures: which costs more; options add a third way of counting.
From open to finish, an options trade's fees take one of these shapes: opening fee plus closing fee; opening fee plus exercise fee; or, worst case, opening fee plus liquidation fee. Which one you end up with depends on how you leave the position.
Three questions that come up
- Is the options fee a percentage of the premium?
- Not directly. The trading fee is 0.024% of the underlying's spot index price times the contract unit; the premium only sets the ceiling, at 10% of the traded price. Those are the figures on the official pages in October 2026; if Binance changes them, your fills will reflect the new rate.
- Is there a fee when an option is exercised?
- Yes. An exercise fee of 0.015% of the settlement price applies, capped at 10% of the option value. For a call, option value is settlement price minus strike; for a put, strike minus settlement price. Rates as listed on the official pages in October 2026 and subject to change.
- Does a higher VIP tier lower options fees?
- Not on the October 2026 options fee table. Every row from Regular User to VIP 9 lists the same two pairs, 0.0240%/0.0240% and 0.0300%/0.0300%, with maker and taker priced the same, so moving up a tier does not change the crypto options rate for now.