Break-Even Price Calculator
The price you actually need just to get back to flat
Your inputs
Your real starting line
Every trade opens underwater. You pay to get in, you pay to get out, and if you hold a perp you pay funding the whole time. Break-even is the price that returns you to flat once all of it is accounted for — and it is never your entry price.
total cost = notional × (entry fee + exit fee + funding + slippage)
price move = total cost ÷ position size
break-even = entry + price move (long)
= entry − price move (short)Why 0.07% is not small
At Hyperliquid's 0.035% taker fee, a round trip costs 0.07% of notional. On one trade that is genuinely trivial. The problem is that it is charged on notional, not on your margin, and it is charged every single time.
Trade a $10,000 position twice a day for a year and you have turned over $7.3 million in notional, paying roughly $5,110 in fees. If your account is $10,000, fees alone are a 51% annual drag that your edge has to clear before you have made a cent. This is the arithmetic that quietly ends most high-frequency retail strategies — not bad trades, just cost.
Maker orders change the maths
Maker fees are consistently lower than taker fees and on several venues are a rebate, which means you are paid to provide liquidity rather than charged to consume it. Switching a round trip from taker/taker to maker/maker can cut your cost by more than half, and in the rebate case can make break-even sit closer than entry. The trade-off is real: limit orders do not always fill, and chasing an unfilled entry usually costs more than the fee you saved. See how to reduce trading fees for the tier breakdown.
Funding dominates on longer holds
Fees are one-off; funding accrues. A position held three days on a pair paying 0.01% hourly accumulates 0.72% in funding — more than ten times the round-trip fee cost. For any swing position, funding is the dominant cost and fees are the rounding error, which is the exact opposite of the intraday picture. Work out the number with the funding rate calculator and enter it above.
Frequently asked questions
What is break-even price?
The price at which closing your trade returns exactly what you put in, after all costs. It is never your entry price — entry fees, exit fees and any funding paid all push it away from entry, upward for longs and downward for shorts.
How much do fees move break-even?
At a 0.035% taker fee per side, a round trip costs 0.07% of notional, so break-even sits about 0.07% beyond entry. That sounds trivial until you trade often: 0.07% per round trip across 200 trades is 14% of notional turned over in fees.
Do maker orders change this?
Substantially. Maker fees are lower than taker fees and on some venues are a rebate, meaning you are paid to provide liquidity. Entering and exiting as a maker instead of a taker can cut round-trip cost by more than half — the trade-off is that limit orders do not always fill.
Should I include funding in break-even?
For anything held longer than a few hours, yes. Funding accrues continuously and on a crowded pair can dwarf the fees. A position held three days at 0.01% hourly pays 0.72% in funding — ten times the round-trip fee cost.