What fees do TradFi perpetual futures charge, and does funding apply when the market is closed?

The trading fee: same formula as crypto perpetuals

BingX's TradFi fee overview says the fee is charged when a position is opened or closed, as position value × trading fee rate, and that the fee structure is the same as for its crypto perpetual futures. At the standard user level that is 0.02% maker and 0.05% taker, with lower rates at higher VIP levels. So a round trip entered and exited with market orders costs about 2 × 0.05% of the position value — the same arithmetic as in how to calculate futures fees.

Two caveats from the same page: rates may be adjusted slightly for market conditions, product characteristics or promotions, and the fee shown on the order page when you place the order is the one that applies. Check it there for the specific contract rather than relying on any table, including ours.

Funding: the cost that keeps running when the market is shut

Funding on TradFi perpetuals works like funding on crypto perpetuals — longs pay shorts when the rate is positive, shorts pay longs when it is negative (what a funding fee is). BingX settles it every 4 to 8 hours while a position is open and states that funding fees still apply during non-trading hours, flagging this for swing trades and overnight positions.

That changes the cost of holding. A crypto perpetual trades around the clock, so you can always close before the next settlement. A TradFi contract can't be exited while its market is closed, yet funding keeps settling: a 48-hour closure spans 6 settlements on an 8-hour schedule and 12 on a 4-hour one. Whether funding or the trading fee is your bigger cost depends on how long you hold — see funding fee vs trading fee.

Around the open and the close

BingX's TradFi risk-control rules restrict some trading operations shortly after the Monday open and before the close, with the longest window before the last close of the week. Before the close it prohibits opening long and short positions at the same time, may lower the maximum leverage for new positions, and lets holders only add margin — not remove it — before and during the close. None of these is a fee, but they decide when you can still change a position cheaply.

The reopening is the other risk. If the underlying price has moved while the market was shut, the contract can open away from where it closed, and a stop-loss that triggers then is usually filled as a market (taker) order at whatever price is available — see maker vs taker fees.

MEXC stock futures: a different model

MEXC's stock futures open and close with official U.S. stock market hours. While the market is closed you can only cancel existing orders or add margin — no new orders — and no liquidations happen. MEXC launched them with zero funding and trading fees for a limited time and didn't publish an end date, and its launch notice doesn't say how funding is handled during the closure. Check the fee and funding shown on the contract page before you trade.

Do fee rebates cover TradFi trades?

A rebate is a share of the trading fee you actually paid, so it can only apply to TradFi trades that paid a fee — a zero-fee promotion leaves nothing to share. Funding is exchanged between traders and is never part of a rebate. Whether an exchange counts TradFi contracts toward its affiliate commission is set by its own program, and rebates are calculated from the commission the exchange reports, so after your first TradFi trades check that they show up in your rebate dashboard after the next daily cycle.