Exchange transaction selling price vs. actual one/actual balance

[btcb3g1nn3r]

hi,
I noticed something weird with the values I see for my trades in Binance.
Example: if I buy DOGE worth of $100 and I sell it for $110, my transaction is recorded like this (selling total $110) but when I check my balance for buying again I see it like $109.
I would expect either the transaction selling records to mention $109 instead of $110 or my balance to be $110 instead of $109.

Any clue? Did you observe this too?

thanks

PS: above data is example, is not matching any of my actual trades

[Charles-Tim]

First of all, your example is clear and understandable, but it is not accurate because binance only charge 0.1% as trading fee. Which means the amount that will be deducted for $110 will not be more than $0.11. This is how it works, but there are certain reason you will still think binance charges more.

1. One of the reasons is because you are dealing with altcoin, and you used market order. Market order for high volume coins like bitcoin may be very close to the limit order but unlike altcoins, it is not close. The lower the trading volume for altcoins, the lower will be the market order if compared to limit order. This is because there is no much buyers and sellers for the coin, you will noticed if you place limit order for low volume coins, it may not be filled in time with limit order while the price of the coin is exactly at the limit order price you use to place the order, which can not happen to coins like bitcoin that will be filled immediately due to enough high number of buyers and sellers that will make the order filled with the limit price. Even, for altcoin, you may reduce the order price for the limit order and may not be filled until it matches your order with the price people are buying or selling which is more likely lower than the limit order price.

For example
If the price of doge is $0.035 and you used a market order, it is likely the market order price is $0.34.

2. Another reason can be the limit order you used, the price of doge can be $0.35, but for the order to be filled in time, you may place the order at $0.34 for sell, this can also lead to such.

Which means what you think as the extra charges is from your order which are filled at slightly lower price. If you place limit order equal to or above the price of the coin you order, you will see it not happen. Or, even your fund will be increased if it is placed above the price of doge, and doge increased to the price and make your order filled.

[hugeblack]

Follow this guide ----> https://www.binance.com/en/fee/schedule (you can readuce it when using BNB) and try to understand what is happening. If the fees are reasonable, meaning that they do not exceed 1%, then this means that you are subject to the logical fees of the platform.
But if the fees are high, it is better to contact the support team, as there may be a problem.
In any case, this problem concerns you, Binance is a well-known platform, and if fee manipulation occurs, the news will spread quickly.

[mersal]

hi,
I noticed something weird with the values I see for my trades in Binance.
Example: if I buy DOGE worth of $100 and I sell it for $110, my transaction is recorded like this (selling total $110) but when I check my balance for buying again I see it like $109.
I would expect either the transaction selling records to mention $109 instead of $110 or my balance to be $110 instead of $109.

Any clue? Did you observe this too?

thanks

PS: above data is example, is not matching any of my actual trades

Buying and selling against which pair also should be mentioned? If it is USDT then we can consider USDT value as $1 but its not completely stable all the time so there will be small depreciation in the total balance in terms of fiat value but the Doge you bought going to remain the same.

Another factor is the maker and taker fee which varies from exchange to exchange so you need to reduce this fee from your profit or actual value because this will goes into the hands of exchange.

[btcb3g1nn3r]

I was trading ETH/USDT when I was noticing this difference and I calculated the maker and taker fees of 0.1%

[Darker45]

I was trading ETH/USDT when I was noticing this difference and I calculated the maker and taker fees of 0.1%

Is there a specific problem with this? 0.1% is indeed the fee for both maker and taker in Binance if your account is not a VIP. But once your Binance account levels up, the fees will change accordingly. Apart from accounts which are not VIP, all other Binance accounts will have a higher taker fee than maker fee. That's true even if you are enjoying discounts for being a BNB holder.

[cryptoaddictchie]

Well aside from fee on trading take note also that even stablecoin is moving its price. So there is a chance it goes high or low when you check it from time to time. If you pair it with usdt or any stablecoin you will see that it's gonna move up and down for a little bit due to slippage. The fee is generally the same I think. So the possible value that you see or change is from the reason I state to you. Anyway just my observation.

[btcb3g1nn3r]

cryptoaddictchie, that's the only explanation I could imagine too

[cryptoaddictchie]

cryptoaddictchie, that's the only explanation I could imagine too

Not sure but that's probably the case. Cause even though your usdt is called stablecoin, why do you think that there is a pair with other stablecoin to trade on Binance with that? Meaning that there is a slight fluctuation to it no matter stable it is. Small value could change the price even little.