// GLOSSARY

Taker fee

The fee charged when your order removes liquidity. Kalshi's standard formula: 0.07 × contracts × price × (1 − price), rounded up to the next cent — peaking near 50¢. Polymarket charges no exchange trading fee on most markets.

Cross the spread and the venue may charge you for the privilege. On Kalshi's standard schedule the taker fee is formula-based:

fee = 0.07 × contracts × price × (1 − price)   # price in dollars

rounded up to the next cent. The price × (1 − price) term peaks at 50¢ — the venue charges most where variance (and typically volume) is highest — and shrinks toward the extremes.

Worked example

Buy 100 contracts at 50¢: 0.07 × 100 × 0.50 × 0.50 = $1.75 — 1.75¢ per contract, 3.5% of your 50¢ outlay. The same 100 contracts at 95¢: 0.07 × 100 × 0.95 × 0.05 = $0.3325, rounds up to $0.34. Same trade count, five times less fee.

The cross-venue angle

Polymarket charges no exchange trading fee on most markets (costs there are spread and Polygon gas), so identical quotes on the two venues are not identical prices — the reason fee-adjusted net price exists. Full schedule details and edge cases: Kalshi fees explained.