Read the unit

Some books charge a fraction of underlying per contract, sometimes capped as a fraction of premium so cheap options are not fee-dominated. Others use USDT linear schedules. If you mix units, the “cheapest” venue is a spreadsheet error.

Match fee notes on /v/fees and profile fee fields are editorial summaries. The venue spec wins.

Round-trip math

You pay to enter and to exit (unless you expire). Two taker fees plus two half-spreads is the honest number for an active trade. Maker rebates only count if you actually make.

OTM weeklies with wide markets can have a larger spread cost than any VIP tier. Liquidity is a fee.

Premium caps and cheap options

A fee capped at a slice of premium is why some venues remain usable for cheap OTM. Without a cap, a $5-wide option can pay a notional fee that is the whole trade. Always check the cap language.

Settlement and delivery fees are rarer on cash-settled crypto options but exist on some products — read the spec.

VIP, volume, and options versus perps

Perp volume often drives the VIP tier that then applies to options — or not. Do not assume your perp VIP covers options. Combined maker programs change the comparison monthly.

Editorial cost scores on Match are not your personal VIP.

RFQ and blocks

Large size may be cheaper via RFQ/blocks than walking the book — if you have access. Paradigm-style RFQ and on-venue RFQ are different paths. See blocks desk and venue product flags.

Retail hopping into RFQ without a relationship usually still pays the screen.

Practice this on OptionsMatch

/v/fees, /compare, then confirm the strike’s spread on /t/btc/chain. Education — not a fee quote.

Affiliate disclosures: /affiliate-disclosure.