Kalshi Fees Explained: What You Pay & How They Compare

Death, taxes, and fees: inevitable and unescapable. But at least when it comes to Kalshi fees, you’re not going to lose your shirt. For best results, place limit orders that are as far from the 50¢ price as possible.

You won’t be smacked with any hidden fees when you use this platform. Most deposits and withdrawals are free, and settlement fees don’t even exist. Likewise, you don’t need to cough up any fancy membership or subscription fees. You might run into non-standard fees for some markets, but it’s rare. Read to get the full fee schedule and formulas…

How much are Kalshi trading fees?

This brand uses a formula to calculate its dynamic fees. You might catch yourself looking over your shoulder to see if your math teacher is standing there mouthing, “I told you so!” But it turns out it’s not as complicated as it sounds. And even better, Kalshi does all the calculations for you. Here’s what you need to know:

The “coin flip” factor

The more uncertainty there is around an outcome, the higher fees you’ll pay. For example, contracts priced at or near $0.50 will shoot you straight to the top of the fee schedule. When an outcome is more certain – meaning prices are closer to $0.99 or $0.01 – then the fees are lower. You can see it for yourself if you crunch numbers using the formulas in the next section.

Makers vs. Takers

The next factor that comes into play is the type of order you’re placing, with market orders taking a bigger bite out of your potential profits. Kalshi refers to people who place market orders as “Takers.” It sounds rude, but it’s just a description of an order that pulls liquidity from the market. Limit orders are placed by “Makers,” who’re the people who add liquidity to the market.

What’s the difference?

Market orders execute immediately at the best possible price, while limit orders “rest” on the order books until they can be executed at a specific price. While all the execution talk sounds more like hiring a hitman rather than trading in the prediction markets, of course it’s referring to executing the event contract.

How do you calculate these fees?

Here’s where the formulas come in handy:

• Market orders: The base formula for taker fees  = round up(M x 0.07 x C x P x (1-P))
• Limit orders: The base formula for maker fees:  fees = round up(M x 0.0175 x C x P x (1-P))

M = the multiplier. Usually it’s 1, but the brand lists a few markets where the number is something other than 1.

C = the number of contracts you’re purchasing.

P = the price of the contract.

Put your thinking cap away, as no one is going to force you to do these mathematical gymnastics. You can check this table as a guide of what to expect. And when you actually place an order, Kalshi will lay out your fees clearly so you’re not left scratching your head or counting everything out on your fingers:

But heads up – there is a section on the brand’s website that outlines “non standard” Kalshi trading fees. Current examples include the US gas price, certain Bitcoin pricing markets, and certain Bundesliga markets. The platform will alert you if you’re trading in a “special event” market with non-standard fees.

How much are Kalshi deposit and withdrawal fees?

Go ahead and breathe a sigh of relief, as fees for these transactions are little to none:

• Deposits and withdrawals via ACH (bank transfer): $0
• Deposits and withdrawals via bank wire: $0 Kalshi fees, but your bank may charge fees.
• Deposits and withdrawals via debit card: a max fee of 2% for deposits, currently $0 for withdrawals.
• Deposits and withdrawal fees for cryptocurrency: Usually $0 from Kalshi, but gas/network fees are in play.

Kalshi’s transaction fees may change, but the terms say they’ll go to no more than 2%. Any changes will be applied uniformly across members. Sorry kids, no one gets special treatment.

Are there any other Kalshi fees traders should know about?

No, there aren’t any additional fees. Kalshi doesn’t charge any sort of membership or contract settlement fees. Likewise, there are no fees to use the app or the onsite tools. All fees are shown when you’re placing orders, so you never have to worry about any surprise or hidden fees. The only surprises on this platform are outcomes that diverge wildly from what the market expects!

Browse through Kalshi markets

Learn about Kalshi fees while trading

Pros and cons of the Kalshi fee structure

Final thoughts on Kalshi fees and costs

At first glance, the Kalshi formula looks like some sort of algebraic nightmare. Turns out the formula is actually rather simple, and the dynamic pricing can work in your favor. Makers who place limit orders are going to pay the lowest fees. Buying contracts that are brimming with confidence and certainty – meaning those priced close to $0.01 or $0.99 – will also give your pocketbook a rest with lower fees. The platform displays any and all fees clearly, so you don’t have to worry about a hidden fee blindsiding you later.

Before all this talk of fees gets you down, there’s a little bit of a silver lining. New Kalshi traders can usually snag a bonus to offset those fees. Check the banner on this page to learn more, and then click it to get started!

Kalshi fees FAQ