Kalshi charges a fee when your order fills: 7% × contract price × (1 − price), per contract, rounded up to the next cent. It peaks at about 2¢ for a 50¢ contract and falls below 1¢ once a contract is past 80¢ or under 20¢. Resting limit orders are free on most markets. There's no fee to settle, hold or withdraw by bank. Everything here is from Kalshi's fee schedule effective July 7, 2026.
The formula
For an order that fills immediately against the order book (a "taker" order):
fee = round up( 0.07 × contracts × price × (1 − price) )
Price is in dollars, so a 60¢ contract is 0.60. The rounding is up, to the cent, on the whole order. The shape matters more than the number: the fee is a curve that's highest when the outcome is a coin flip and tiny when it's nearly certain.
Fee by price
| Price (Yes or No) | Fee per contract | Fee on 100 contracts | Fee as % of stake |
|---|---|---|---|
| 50¢ | 1.75¢ | $1.75 | 3.5% |
| 60¢ / 40¢ | 1.68¢ | $1.68 | 2.8% / 4.2% |
| 70¢ / 30¢ | 1.47¢ | $1.47 | 2.1% / 4.9% |
| 80¢ / 20¢ | 1.12¢ | $1.12 | 1.4% / 5.6% |
| 90¢ / 10¢ | 0.63¢ | $0.63 | 0.7% / 6.3% |
| 95¢ / 5¢ | 0.33¢ | $0.33 | 0.35% / 6.7% |
| 99¢ / 1¢ | 0.07¢ | $0.07 | 0.07% / 7% |
Notice the last column. The fee is symmetric in cents, but as a share of what you put in, buying the longshot side is expensive: a 10¢ contract pays the same 0.63¢ fee as a 90¢ one, which is 6.3% of your stake instead of 0.7%.
Maker vs taker
A taker order fills now against existing orders and pays the fee above. A maker order is a limit order that rests in the book until someone trades against it. On most markets the maker fee multiplier is zero, so resting orders are free. A handful of series charge makers 1.75% × price × (1 − price), a quarter of the taker rate, and some combo markets charge makers more than takers. The schedule lists them by series code; if you're trading size, check your market.
Practical rule: if you can wait, post a limit order at your price and let the market come to you. It's the difference between paying ~2¢ and paying nothing on a 50¢ contract.
What it does to your break-even
Buying Yes at 50¢ with a 1.75¢ fee means you're really paying 51.75¢ for something that pays $1 or $0. You need the event to happen more than 51.75% of the time to break even. If you also sell before settlement (another taker fee), the hurdle is ~53.5%.
| You buy at | Break-even probability, hold to settlement | Break-even if you also sell early (two taker fees) |
|---|---|---|
| 30¢ | 31.5% | ~33% |
| 50¢ | 51.75% | ~53.5% |
| 70¢ | 71.5% | ~73% |
| 90¢ | 90.6% | ~91.3% |
For comparison, a standard −110 sportsbook line needs 52.4% to break even, and most sportsbook markets are priced with a built-in margin of 4–5% that you can't trade around. On Kalshi the fee is the whole cost, and it's avoidable with limit orders.
Other fees
- Settlement: none. Membership: none. Cancelling a resting order: none.
- ACH: free both ways.
- Debit card deposits: up to 2%, sometimes reduced.
- Wire: no Kalshi fee; your bank may charge. Wire withdrawals are not supported under $500,000.
- Crypto: third-party processor fees may apply, shown before you confirm.
- PayPal, Venmo, Cash App and other rails: 0–2%, subject to change.
- Perpetual futures: a separate product with volume-tiered fees from 12 bps (taker) and 5 bps (maker) at the lowest tier.
Markets with no fee
The schedule assigns a multiplier per series. Some have a zero multiplier for both makers and takers, meaning no trading fee at all; at the July 2026 schedule that included certain yearly Bitcoin and Ethereum markets. Others, like CPI and Fed decision markets, charge makers the same as takers. The list changes; the current version is at kalshi.com/fee-schedule.
Fees are one cost. Slippage on thin markets is the other.
Slippage and volume on Kalshi