Can't wait any longer, so regretful. Just now, a friend who was doing well was completely speechless. This friend said he deposited around 2000u three months ago, mainly to trade contracts, opening positions quite frequently. However, last month, he was left with just over 100u, and then he deposited another 1000u, saying that if he lost this 1000u, he wouldn't play anymore. I taught him how to check the fees and he showed me, wow, you can see for yourself, I placed it below. The fees for three months were over 9000u, and the net loss was only over 1800u, meaning he lost everything on fees. If there were fee rebates, it would actually be a net profit of several thousand u. Looking at the second image for the last month, including BNB, the fees were also over 1000u, and the net loss was only 105u; it turns out all the losses were on fees. He just asked me to open a rebate. With his consent, I am sharing this example.

So why are contract fees so high? A single transaction consists of buying and selling, opening and closing positions, meaning that completing a transaction incurs two fixed fees. Suppose you use 100u with a leverage of 50 times. That means you're using 5000u to either short or long, and the average fee across exchanges is generally around 0.04%. This means you need 2u to open a position and 2u to close it. Without doing anything, 4u in fees are taken out of the initial 100u capital. If you open 5 trades in a day, that would be 20u in fees, and if you go back and forth to open 10 trades in a day, the 100u capital will incur an astonishing 40u in fees. Opening 20 trades, the fees would basically equal the capital.

So everyone trading must ensure they have a rebate; they must have a rebate. It's very common for fees to cover or even exceed the capital by several times quickly, and setting up a rebate can be done in a few minutes, potentially saving you huge costs in the future. Without a rebate, it is extremely disadvantageous.