The official general formula
Kalshi's published general taker formula is:
C is the number of contracts and P is the contract price in dollars. Because P × (1 − P) is largest at 50¢, the dollar fee per contract is generally highest near the middle of the price range and lower near 0¢ or $1.
Worked examples
| Trade | Unrounded formula | Fee |
|---|---|---|
| 100 contracts at 50¢ | 0.07 × 100 × .50 × .50 | $1.75 |
| 100 contracts at 90¢ | 0.07 × 100 × .90 × .10 | $0.63 |
| 10 contracts at 25¢ | 0.07 × 10 × .25 × .75 | $0.14 after rounding up |
These illustrate the general formula only. Product-specific schedules and future changes can override it.
Maker fees and round trips
The published maker formula for covered markets is 0.0175 × C × P × (1 − P), rounded up. A maker order rests on the book before another participant fills it; a taker order executes against liquidity already available. Simply choosing “limit” does not guarantee maker treatment if the price crosses the book immediately.
If you close a position before settlement, model the second trade too. Your real result is sale proceeds minus original cost, fees on applicable fills and spread or slippage. A contract that settles out of the money can lose its full purchase cost even when the transaction fee was small.
Verify the live schedule
Use Kalshi's regulatory fee schedule as the source of truth. The platform says fees are based on expected earnings and identifies exceptions and maker-fee markets there.
Compare the all-in number against the spread and against other venues. Our sportsbook comparison explains why a fee rate and a sportsbook's embedded margin are not directly interchangeable.
Frequently asked questions
How are standard Kalshi taker fees calculated?
The published general formula is 0.07 × contracts × price × (1 − price), rounded up to the next cent. Special products can use a different schedule, so verify the live fee page before trading.
Does every resting limit order avoid fees?
Not necessarily. The official schedule identifies markets with maker fees. A resting order can be subject to the published maker formula when it later executes.
Are trading fees the only cost?
No. The bid-ask spread, slippage, funding methods, withdrawals and an early closing trade can all affect net return.