What the exchanges charge

Every figure below is measured, not quoted. We put our own money through each exchange โ€” one real buy, one real sell โ€” and recorded what came back. Coinbase and Kraken are re-checked against the fees those exchanges report on real bots' fills; last checked 24 September 2026. The one venue we have not traded yet is marked with a †.

Cost per trade

ExchangeTakerMaker Round trip
taker × 2
Notes
Hyperliquid0.045%0.015%0.09%Perps. Cheapest by a distance, and the venue the strategy was designed on.
Binance0.1%0.1%0.2%Takes the BUY commission out of the coin you receive, so a buy can look free while costing the same as the sell. Not available to US residents.
Bybit (Global)0.1%0.1%0.2%bybit.com. Charges both sides in USDT, so what you see is what you pay. Not available to US or UK residents โ€” and not to the EEA, which Bybit moved to a separate platform. If you are in Europe, you want the next row, not this one.
Bybit EU0.1%†0.1%0.2%bybit.eu โ€” a SEPARATE platform for EEA customers, with its own accounts, its own keys and no USDT pair at all (it quotes USDC). A bybit.eu key cannot connect to Bybit Global, or the other way round. The rate shown is Bybit's published spot rate; we have not put our own money through this venue yet, so treat it as their number, not ours.
KuCoin0.4%0.2%0.8%Four times Binance for the same job. Not available to US residents.
Kraken0.8%0.4%1.6%Kraken Pro. A brand-new account with no volume pays 0.80% โ€” we measured it, and it is now also Kraken's published entry rate. It falls fast: active accounts sit near 0.35%. See the Kraken tiers below before this number scares you off.
Coinbase0.9%0.5%1.8%Coinbase Advanced โ€” the account every API key trades on. 0.90% is the entry rate every new account starts in (cut from 1.20% on 16 September 2026). It drops as you trade โ€” see the Coinbase rates below.

Why the round trip is taker twice, not taker plus maker. The maker rate is for an order that waits on the book for someone else to fill it. This bot never does that: its buys are market orders, and its take-profit sells fill immediately or cancel, so the exchange charges the taker rate on both sides. The maker column is shown for reference only.

† Published by the exchange, not yet measured by us. Every other figure on this page is one we paid.

Bybit and Bybit EU are two different exchanges

This catches people out, so it is worth being blunt about. Under MiCA, Bybit moved its European customers onto a separate platform at bybit.eu, run by a different entity. It is not a regional skin on the same site โ€” it has its own accounts, its own logins, its own API and its own coin list, and it quotes in USDC where the global venue quotes in USDT.

A key from one will never work on the other. If you make an API key on bybit.eu and connect it as Bybit (Global), you get "API key is invalid" โ€” which looks exactly like a typo, and sends people back to re-copy a key that was never going to work. Pick the tile that matches the site you actually log in to.

Why this decides your take-profit

Your bot buys, then sells at a profit target. Both trades cost you. So a take-profit is not what you keep โ€” what you keep is the target minus the round trip.

If your first target is2%3%5%8%
Hyperliquid+1.91%+2.91%+4.91%+7.91%
Binance+1.80%+2.80%+4.80%+7.80%
Bybit (Global)+1.80%+2.80%+4.80%+7.80%
Bybit EU+1.80%+2.80%+4.80%+7.80%
KuCoin+1.20%+2.20%+4.20%+7.20%
Kraken+0.40%+1.40%+3.40%+6.40%
Coinbase+0.20%+1.20%+3.20%+6.20%

Read the amber squares. On a new Coinbase account a 2% take-profit keeps two-tenths of one percent; on a new Kraken account, four-tenths. One bad fill erases either โ€” the bot works perfectly, closes deal after deal, and the account barely moves. These are entry rates; both fall as you trade (below).

This is why the same settings behave differently on different exchanges. A ladder that is comfortable on Hyperliquid or Binance can be unworkable on Coinbase without changing a single bot setting.

What to do about it

Coinbase, in particular

Bots trade on Coinbase Advanced โ€” that is the account an API key uses, not the simple Coinbase app. Every new account starts in the worst tier. On 16 September 2026 Coinbase cut the US entry rate from 1.20% to 0.90% taker (0.50% maker). The US ladder, read from a logged-in US account on 24 September 2026 โ€” you reach a row by either column:

Tier30-day volumeor USDC held MakerTaker
Intro$0$00.50%0.90%
Advanced 1$10,000$500,0000.35%0.75%
Advanced 2$50,000$1,000,0000.15%0.30%
Advanced 3$250,000$5,000,0000.10%0.15%
VIP 1$1,000,000$10,000,0000.06%0.10%

The step that matters is $50,000 a month: $10,000 only takes you from 0.90% to 0.75% (still a 1.5% round trip), while $50,000 drops it to 0.30%. The balance column counts only USDC held on Coinbase and starts at $500,000 โ€” so for almost everyone it is trading volume that counts, not account size. It counts all your trading, not just the bot's, so two accounts running the same bot can pay different rates. Your own rate is on Coinbase's fee page when you are logged in. If you have read that Coinbase charges 0.60%/0.40%: that table is Coinbase Exchange, its separate institutional platform, not Coinbase Advanced.

Coinbase also sells a subscription, Coinbase One. On a US account we checked in September 2026 it showed as a 25% rebate on trading fees โ€” so 0.90% becomes roughly 0.68%. It is worth arithmetic rather than enthusiasm: the rebate is only worth it if your monthly fees are well above the subscription price. Work out your own volume before subscribing to anything.

Kraken, in particular

Kraken's 0.80% above is real โ€” we were charged it โ€” but it is the rate for an account that has never traded, and it does not last. Kraken charges on your rolling 30-day volume (or the assets you hold there), and a DCA bot builds volume quickly: a single deal can be seven fills. Kraken Pro's published steps, which match what live accounts are charged:

30-day volumeor assets held on KrakenTaker
under $2,500โ€“0.80%
$2,500+โ€“0.60%
$10,000+$20,000+0.38%
$25,000+$50,000+0.35%
$50,000+$100,000+0.30%
$100,000+$200,000+0.25%

Unlike Coinbase, Kraken's balance route is within reach: holding $20,000 on Kraken puts you on 0.38% from your very first trade, whatever your volume. So on Kraken, a bigger account does get cheaper fees.

To put that in context: when we last read this (September 2026) our own active Kraken accounts were at about 0.35% and 0.38%, not 0.80%. Yours will depend on your own volume. So the honest comparison for a bot that is actually running is roughly 0.70% round trip on Kraken against 0.20% on Bybit โ€” on a 3% take-profit, keeping about 77% of the gain versus about 93%. Still a real difference, and worth choosing on. Just not the 26x the entry rates suggest.

The first $2,500 of volume is the expensive part. It is a wall you climb, not one you live behind.

Do fees drop after my first month?

Not by themselves. Exchanges set your rate from how much you traded recently โ€” the last 30 days on Coinbase and Kraken (Hyperliquid uses 14) โ€” not from how long your account has been open. A new account starts at the highest rate because it has no trading history yet. As your bot trades, that 30-day total builds up and your rate usually falls within the first few weeks. But it is the volume that does it, not the calendar: an account that trades $3,000 a month stays on the entry rate however long it has been open. It works the other way too โ€” if your trading slows, older trades drop out of the 30-day window and your rate can go back up.

A note on honesty

We publish measured numbers because published ones misled us. Kraken used to advertise 0.26% while charging new accounts 0.80% (its July 2026 schedule now says 0.80%). Binance takes its buy commission in the coin rather than in dollars, so a buy looks free. Search engines quote Coinbase at 0.60% โ€” the institutional Coinbase Exchange โ€” while a new Coinbase Advanced account pays 0.90%. Exchanges also change their fees: Coinbase cut its entry rate on 16 September 2026, and we re-check against real fills. None of these are tricks โ€” they are tiers, conventions and small print โ€” but they all cost real money, and you should see them before you choose.

Rates change, and volume tiers change under you as you trade. Venue rates were measured in August 2026 and the Kraken tiers re-read in September 2026; check your exchange's own fee page before making a decision that depends on the exact figure.