Fee Structure
The Following Fees are incurred by users while trading Crypto-INR Futures on Pi42
INR Deposit Fee (Instant Bank Transfer): Free
INR Withdrawal Fee: Free
Trading Fees : This fee is applied to cover the costs associated with facilitating the buying or selling of the contracts on Pi42. They are of two types:
1) Maker Fee: When you place an order on Pi42 that doesn’t get executed
immediately and goes into the order book, you are considered a “maker.”
2) Taker Fee: When you place an order that gets matched with an existing order on the order book and is executed immediately, you are considered a “taker.”
Note: GST at 18% will be applicable on Maker/Taker Fee separately.
Below is a table representation of the VIP Tiers along with the corresponding Maker and Taker Fees, and the required 30 Day Trading Volume for the users at Pi42:
| VIP Tier | 30 Day Rolling Trading Volume (in INR) | 30 Day Rolling Trading Volume (in USDT) | INR MARKET | USDT MARKET | ||
|---|---|---|---|---|---|---|
| Maker Fees | Taker Fees | Maker Fees | Taker Fees | |||
| VIP 0 | Up to Rs 5 crore | less than 568K USDT | 0.050% | 0.100% | 0.0200% | 0.0600% |
| VIP 1 | Rs 5 crores to 20 crores | 568K - 2.3M USDT | 0.045% | 0.090% | 0.0190% | 0.0550% |
| VIP 2 | Rs 20 crores to Rs 50 crores | 2.3M - 5.7M USDT | 0.040% | 0.085% | 0.0180% | 0.0510% |
| VIP 3 | Rs 50 crores to Rs 100 crores | 5.7M - 11.4M USDT | 0.038% | 0.080% | 0.0170% | 0.0470% |
| VIP 4 | Rs 100 crores to Rs 500 crores | 11.4M to 56.8M USDT | 0.036% | 0.076% | 0.0150% | 0.0430% |
| VIP 5 | Rs 500 crores to Rs 1,000 crores | 56.8M to 113.6M USDT | 0.034% | 0.072% | 0.0120% | 0.038% |
| VIP 6 | Rs 1,000 crores to 5,000 crores | 113.6M to 568M USDT | 0.028% | 0.065% | 0.0100% | 0.035% |
| VIP 7 | Rs 5000 crores to 10,000 crores | 568M to 1136M USDT | 0.024% | 0.055% | 0.0075% | 0.032% |
| VIP 8 | Above Rs 10,000 crores | Above 1136M USDT | 0.020% | 0.045% | 0.0065% | 0.029% |
USDT Deposit & Conversion Fee: Users on Pi42 can transfer their USDT from their wallets into Pi42 and convert it into INR. The conversion will be based on the latest USDT-INR rate we publish, the value of which is market dependent.
While depositing and converting your USDT into INR, there are following fees applicable:
a) Transaction Fee (0.02% per transaction value)
b) GST on Transaction Fee (18%)
c) 1% TDS (Based on the clauses of IT Act 1961 and applicable rules)
Here is a simple example:
For this example we are assuming user wants to Deposit 100 USDT and the USDT INR rate to be Rs 85
| USDT INR Conversion Rate (shown on platform in INR) | Rs 85 |
| Quantity of USDT being deposited | 100 USDT |
| Total Sell Amount (A) | Rs 8,500 |
| Transaction Fees (0.02%) (B) | Rs 1.70 |
| GST on Transaction Fees @18% (C) | Rs 0.306 |
| 1% TDS will be applicable on (A-B-C) | Rs 8,497.94 |
| Therefore 1% TDS to be deducted (D) | Rs 84.97 |
| Total Value that users gets back credited in their INR Wallet (A-B-C-D) = | Rs 8413.01 |
Funding Fees:
The funding fee is exchanged at every fixed interval between buyers and sellers of the contract based on the difference between the spot price and the futures contract price to balance the price difference between the spot and the future.
Depending on the token pair, the funding payments frequency can vary between 4 hours or 8 hours.
Funding Amounts are calculated using the following formula:
Funding Amount = Nominal Value of Position (of that contract) * Funding Rate (of that contract)
where, Nominal Value of Positions = Mark Price * Size of a Contract (for our INR Margined Contracts)
Traders are only liable for funding payments in either direction if they have open positions at the pre-specified funding times.You are not liable for any funding if you do not have a position. If you close your position before the funding time, you will not pay or receive any funding.
Liquidation Fees:
Liquidation on the pi42 platform occurs when a trader’s leveraged position is forcefully closed by the exchange due to either a partial or complete loss of the initial margin. This happens when a trader is unable to meet the margin requirements for their leveraged position, indicating a lack of sufficient funds to maintain the trade.
On Pi42 we have to close your position and liquidate it if you don't maintain the margin required to maintain that position. A taker fee will be applicable when closing that position forcefully. Additionally an Insurance clearance fee will also be charged along with the taker fee.
| Contract Name | Coin Name | Liquidation Clearance Fees |
|---|---|---|
| BTC-INR | Bitcoin | 0.50% |
| ETH-INR | Ethereum | 0.50% |
| XRP-INR | Ripple | 0.50% |
| SOL-INR | Solana | 0.50% |
| MATIC-INR | Matic | 0.50% |
| INJ-INR | Injective | 0.50% |
| DOGE-INR | Dogecoin | 0.50% |
| AVAX-INR | Avalanche | 0.50% |
| LINK-INR | Chainlink | 0.50% |
| ADA-INR | Cardano | 0.50% |
| 1000SHIB-INR | Shiba Inu | 0.50% |
| APTINR | Aptos | 0.50% |
| BNBINR | Binance Coin | 0.50% |
| OPINR | Optimism | 0.50% |
| NEARINR | NEAR Protocol | 0.50% |