Citation-ready answer: As of Kalshi's July 7, 2026 fee schedule, the general event-contract trading fee is round up(M x 0.07 x C x P x (1-P)). P is the contract price in dollars, C is contract count, and M is the series multiplier, which defaults to 1 unless the schedule says otherwise. The same document lists no settlement fee, no membership fee, and no ACH deposit or ACH withdrawal fee. A card deposit can carry a maximum 2% fee.
Primary sources checked: reviewed July 17, 2026: Kalshi Fee Schedule, effective July 7, 2026, Kalshi Help Center: Fees, and Kalshi Help Center: Limit Orders. This is not legal, tax, or financial advice.
The most common shorthand, "Kalshi charges 7%," is incomplete. Seven percent is one factor inside a nonlinear formula. The price, number of contracts, applicable series multiplier, and whether the order takes or provides liquidity all matter. Funding method, spread, and slippage can add costs that are not part of the exchange fee.
The current schedule gives the general formula as:
fee = round up(M x 0.07 x C x P x (1-P))
The factor P x (1-P) is largest at 50 cents and becomes smaller near 1 cent or 99 cents. That means the formula's raw value is highest near the middle, all else equal. It does not mean every 50-cent order is more expensive after market-specific multipliers or maker treatment are considered.
These are copied from the general trading-fee table in the schedule effective July 7, 2026. They are safer than silently guessing how a platform applies its rounding rule.
| Example execution | Position cost | Published fee | Fee as % of position cost |
|---|---|---|---|
| 1 contract at 1 cent | $0.01 | $0.01 | 100.00% |
| 1 contract at 50 cents | $0.50 | $0.02 | 4.00% |
| 100 contracts at 10 cents | $10.00 | $0.63 | 6.30% |
| 100 contracts at 40 cents | $40.00 | $1.68 | 4.20% |
| 100 contracts at 50 cents | $50.00 | $1.75 | 3.50% |
| 100 contracts at 90 cents | $90.00 | $0.63 | 0.70% |
The final column is our arithmetic on the two published dollar amounts, not another Kalshi fee rule. It shows why the same one-cent display increment matters much more on a tiny position. It also shows why "7% of the trade" is the wrong mental model.
An order that matches liquidity already sitting on the order book is an immediately matched order. The general 0.07 formula applies unless that product has a different schedule. A limit order that does not match immediately becomes a resting order. The schedule says ordinary resting orders are not charged the general trading fee unless the series appears in its Maker Fees section.
For applicable maker fees, the schedule gives:
maker fee = round up(M x 0.0175 x C x P x (1-P))
The maker multiplier defaults to 0 unless otherwise indicated. That does not mean every resting fill is permanently fee-free: the non-standard series list can assign a maker multiplier of 1, and the list can change. A resting order is charged only if it eventually executes, and canceling a resting order carries no fee under the current schedule.
| Cost layer | What it means | How to check it |
|---|---|---|
| Exchange fee | The applicable taker or maker formula and multiplier. | Read the order ticket and current schedule. |
| Bid-ask spread | The gap between the best available buy and sell prices. | Inspect both sides of the order book before choosing a limit. |
| Slippage | A larger order can fill across several prices, producing a worse average than the top quote. | Use the visible depth and our slippage calculator. |
| Funding rail | Card, crypto, wire, or another provider can add a transfer cost. | Read the transfer confirmation before approving it. |
| Tax and recordkeeping | A tax obligation is not an exchange trading fee, and treatment depends on facts and jurisdiction. | Keep statements and consult a qualified tax professional. |
A displayed 40-cent quote is not enough to estimate a trade. Start with the full position cost, add the order-ticket fee, model the average fill from depth, and compare that all-in break-even level with your own probability estimate. The payout calculator lets you enter the displayed fee manually so the result does not pretend every series uses the same schedule.
The July 7 schedule lists:
Transfer availability, timing, holds, minimums, and eligibility are separate from the fee itself. See the current Kalshi deposit-method comparison before moving funds.
Do not use the event-contract formula for Kalshi perpetual futures. The July PDF gives perps a tiered maker and taker schedule measured in basis points, with tiers based on trailing 30-day perps plus prediction volume and, for some maker tiers, the share of perps maker volume. The event-contract examples in this guide do not calculate perps fees.
An applicable trading fee is charged when an order executes, not because the contract later wins or loses. Kalshi's July 7, 2026 schedule lists no settlement fee. A losing position can therefore lose the amount put at risk plus any fees already paid on its executions.
Kalshi's July 7, 2026 schedule lists no ACH deposit or ACH withdrawal fee. It lists a maximum 2% card deposit fee, possible third-party crypto fees, possible 0% to 2% alternate-rail fees, and bank-dependent wire costs. Always check the live transfer confirmation.
The published general table shows a one-cent fee for many one-contract examples, so display precision can be material on a very small position. A spread or partial fill can add more cost. Compare the fee and expected slippage with the maximum profit, not only with the amount spent.
No. Seven percent is an input to the general formula, multiplied by contract count, price, one minus price, and the applicable multiplier. It is not simply 7% of the position or payout. The applicable execution fee is displayed on the order ticket.
Not legal, tax, or financial advice. This independent guide is not affiliated with Kalshi. Fee schedules, multipliers, products, transfer rails, and platform interfaces can change. Verify the current schedule and the live order or transfer confirmation before acting. Trading involves risk, and you can lose money.