When "Place an Order", the "cost" is the margins needed to open a particular position. It is calculated using the initial margin plus a 2 way taker fees.
Order Value = Position * Multiplier * Open Price
Fees = Fees Rate * Order Value
Initial Margin = Position * Multiplier * Open Price / Leverage
Order Cost = Initial Margin + 2 Way Fees
**Multiplier = 0.001
Example:
A trader places a long entry of 100 contracts at USDT 7,000 with 50x Leverage.
Order Value = 100 * 0.001 * 7,000
= 700 USDT
2 Way Fees = (0.02% * 700) * 2
= 0.28 USDT
Order Cost = (100 * 0.001 * 7,000 / 50) + 0.28
= 14.28 USDT
The initial margin (order cost) of opening 100 long contracts at USDT 7,000 with 50x leverage is 14.28 USDT.
**Examples above may not reflect on the real market as it varies on other conditions such as volume, fees, risk level, etc.
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