It’s important to understand the impact of Kalshi’s fees when trading on this prediction market platform. While the fees are generally low compared to the industry average, they can still eat into your funds if you’re not careful.
If you know exactly where these transaction fees come from, you’ll be in a better position to minimize them when using Kalshi. That’s what this guide is all about. From basic trading and maker fees to deposits and withdrawals, you’ll learn everything there is to know. We’ll also share some of our top tips and tricks, so keep reading.
Facts
Does Kalshi Have Trading Fees per Contract?
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Fees apply only when orders are matched
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Understand trading costs and fee calculation basics
Whenever you trade Kalshi event contracts, a fee is included in the transaction cost. However, it is only charged if the order is immediately matched in the order book.
If you place an order and it’s not matched, it’ll sit as a resting order, and no fee will be charged, unless it can be classified as a maker fee, which we’ll cover later.
The Kalshi trading fee uses a specific formula, meaning the actual fee you receive is variable. The main factors influencing the fee include the number of contracts being traded and the price of those contracts.
Here’s a quick summary of the formula:
- Kalshi trading fees = round up(0.07 x C x P x (1-P))
- P = the price of a contract in dollars (50 cents is 0.5)
- C = the number of contracts being traded
- Round up = rounds to the next cent
This same formula applies to all markets on the exchange, so you won’t be able to minimize costs by choosing a specific topic like Kalshi election markets.
Real Examples of Kalshi Trading Fees in Practice
If you’re not a maths whizz, it can be difficult to visualize how the Kalshi fees formula actually impacts your trading. Don’t worry, the table below outlines a few examples with varying price points and trade sizes.
Let’s take a closer look:
| Price for 1 event contract | Fee for 1 contract | Price for 100 contracts | Fee for 100 contracts |
| $0.10 | $0.01 | $10.00 | $0.63 |
| $0.25 | $0.02 | $25.00 | $1.32 |
| $0.50 | $0.02 | $50.00 | $1.75 |
| $0.75 | $0.02 | $75.00 | $1.32 |
| $0.90 | $0.01 | $90.00 | $0.63 |
What Are Kalshi Maker Fees?
Maker fees at Kalshi are charged on orders that are not immediately matched and left as resting orders. This is significantly more common in niche markets that have low liquidity, and the fee is ultimately charged when the trade is executed.
If You Cancel the Resting Order at Any Time, There Will Be No Fee to Pay
Just like regular trading fees, the same rules apply to all event types, including Kalshi sports markets.
However, the formula used for maker fees generally results in a significantly lower fee being charged. Here’s a quick summary:
- Kalshi maker fees = round up(0.0175 x C x P x (1-P))
- P = the price of a contract in dollars (50 cents is 0.5)
- C = the number of contracts being traded
- Round up = rounds to the next cent
It’s also worth noting that traders who end up paying extra in maker fees due to rounding are reimbursed in the first week of the following month.
However, this reimbursement is only paid if it exceeds $10.
Are There Any Kalshi Fees for Deposits and Withdrawals?
If you caught our recent Kalshi review, you’ll know that this prediction platform offers a huge selection of payment methods, including fiat and crypto options.
But do they impose any deposit or withdrawal fees? Here’s what we found:
💱 Fiat Currency Fees
Kalshi charges a maximum fee of 2% for card deposits, but this may vary by provider. However, there are no transaction fees for any of the alternative fiat currency methods accepted at Kalshi, including ACH, wire transfer, PayPal, and Venmo, making them excellent alternatives. We also couldn’t find any evidence of a withdrawal fee for any available payment methods.
💹 Cryptocurrency Fees
There may be small Kalshi fees when you deposit or withdraw with cryptocurrency. However, these aren’t charged by Kalshi itself; instead, they come from the platform’s third-party payment processor. The exact amount can vary depending on the cryptocurrency you use, but the fees are typically minimal. Many traders believe these fees are worthwhile for the additional speed and security benefits you get when using cryptos like Bitcoin, Ethereum, Litecoin, and Tether at Kalshi.
Pros and Cons of The Fees at Kalshi
Here is a quick summary of the pros and cons of Kalshi fees:
Pros & Cons - Low fees compared to the industry
- Transparent fees policy
- Maker fee only for executed trades
- Payment methods with no fees
- 2% debit card deposit fee
Two Helpful Tips to Minimize the Impact of Kalshi Fees
Minimizing the impact of fees can be a great way to get more out of every deposit or withdrawal. Here are two helpful tips:
📏 Check your margins before trading out of a position
If the prices of your event contracts have risen due to new information, you might consider selling your position to lock in some early profits. However, if your margins are small, Kalshi trading fees could quickly eat into any of these potential profits. Therefore, it’s wise to consider the impact they’ll have on the total profit of your trade before executing it.
💳 Consider fee-free payment methods
Debit card payments come with a 2% deposit fee, and if you’ve read our Kalshi app review, you’ll know this also applies to Google Pay and Apple Pay. Cryptocurrencies also have small transaction fees, so it may be smarter to stick with fee-free methods, including ACH, wire, PayPal, and Venmo. This will mean you get more out of every deposit and withdrawal.
Final Thoughts on The Significance of Kalshi Transaction Fees
To summarize, before you start trading at the Kalshi prediction market site or app, it’s important to know what fees apply. The good news is that the trader and maker fees on this platform are generally small, especially compared to the industry average.
Moreover, if you’re making a deposit or withdrawal, you’ll get the best value from fee-free methods, such as ACH, wire, PayPal, and Venmo.
If you would like to give Kalshi a shot, you can use any of our links on this page to create your first account. When you register with our links, you’ll receive a $10 welcome bonus to get you started.
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Kalshi Fees FAQ
- ❓ Does Kalshi charge trading fees on every order?
Kalshi only charges a trading fee when your order is immediately matched in the order book. If your order sits as a resting order and isn’t executed, you won’t pay a fee unless it later qualifies as a maker trade.
- 🧮 How are Kalshi trading fees calculated?
Kalshi trading fees are calculated using a formula based on the number of contracts and their price. The fee is also rounded up to the nearest cent.
- 💸 What is the cheapest way to deposit funds on Kalshi?
ACH, wire transfers, PayPal, and Venmo are fee-free deposit methods.
- 🤔 Do fees vary between different Kalshi markets?
No, the same fee structure applies across all Kalshi markets.