Understanding Kalshi Fees

How Kalshi calculates taker and maker fees, and why the fee curve is parabolic.

Overview Default Fee Schedule S&P 500 / NASDAQ-100 Fee Chart Estimator

Taker & Maker Fees for 100 Contracts

Fee in dollars and effective fee as % of trade cost at each contract price from $0.01 to $0.99

Contracts:

Capitola Research

Fee per Dollar Invested

Fee for a $100 market order at each contract price from $0.01 to $0.99

Order size:

Capitola Research

Kalshi charges reduced fees for S&P 500 and NASDAQ-100 index contracts. The rate multipliers are halved compared to the default schedule: taker 0.035, maker 0.00875.

The same parabolic P × (1 − P) structure applies — fees still peak at $0.50 and taper at the extremes, just at half the magnitude. The per-dollar chart shows fees for a market order of the chosen size.