Crypto options glossary
How are Delta Exchange option fees charged?
On its current offer, Delta Exchange India charges option fees of 0.01% of the underlying notional, capped at 3.5% of the option's premium, plus 18% GST; the standard rate is 0.03%, capped at 10%. The fee is paid on entry and again on exit. Held to expiry, an option pays no exit fee, only a settlement fee at the same rate if it ends in the money.
- Fee: 0.01% of notional (price × lots × lot size) on Delta's current offer; 0.03% standard.
- Capped at 3.5% of the premium on the offer; 10% standard.
- Plus 18% GST on the fee.
- Paid on entry and on exit; at expiry, a settlement fee only if the option ends in the money.
Premium paid
₹1,149
1,352 per BTC
Fee on entry
₹7.62
0.01% of notional + 18% GST
Entry and exit
₹15
1.3% of the premium
Notional: 75,930 × 10 lots × 0.001 BTC = ₹64,541. 0.01% of that is ₹6.45, plus 18% GST = ₹7.62. The cap on Delta's current offer, 3.5% of the premium, would apply only to an option cheaper than about 217 per BTC.
Exit fee estimated at today's price. A leg left to expire pays no exit fee, only a settlement fee if it ends in the money. Weekly expiry, Fri 13 Nov.
Questions people ask
Why do fees matter so much for option sellers?
Sellers often collect small premiums, especially on daily expiries, while the fee is a share of the full notional. On short-dated trades, fees can take a meaningful part of the premium.
Does Algoclear include fees in its numbers?
Yes. Paper trades and reports include Delta Exchange's fees and GST, so results are not flattered.
Are futures fees different?
Yes. Perpetual futures are charged on notional at a different rate. Check Delta Exchange India's fee page for the current schedule.
Is the fee charged on the premium or on the notional?
On the notional: Bitcoin's price × lots × 0.001, at 0.01% while Delta's current offer runs (0.03% standard). The premium only matters for the cap, which limits the fee to 3.5% of the premium on the offer (10% standard). GST of 18% is added on top.
Is there a fee when an option expires?
No exit fee. An option that expires worthless pays nothing more. One that ends in the money pays a settlement fee at the same rate and cap when it settles at 5:30 PM IST.
Do fees differ for buying and selling options?
No. Buying and selling are charged the same way, on entry and again on exit. Algoclear's estimates use the exchange's taker rate; Delta Exchange India's own fee page has the current schedule.
Keep going
- Lesson 8 · 4 minWhat is the Delta Exchange lot size for Bitcoin options?Lots and money
- GlossaryDelta Exchange options expiry: when do options expire?Expiry time
- Lesson 12 · 8 minWhat is a Bitcoin iron condor?Hedging both sides: the iron condor
- Use it in AlgoclearPaper, then liveEntries, stops and adjustments behave exactly as live.
The fee, worked at three sizes
Examples with round numbers, Bitcoin at 80,000. On Delta's current offer the fee is 0.01% of the notional, which is the price × lots × 0.001, capped at 3.5% of the premium, plus 18% GST.
One lot: the notional is 80 USDT, so the fee is 0.008 USDT, and 0.0094 with GST. Ten lots: a notional of 800 USDT, a fee of 0.08, and 0.0944 with GST. A four-leg iron condor of ten lots a leg: four fees on entry, up to about 0.38 USDT, and up to the same again if all four legs are closed before expiry.
The fee as a share of the premium
The fee depends on Bitcoin's price, not on the option's, until the cap. So the cheaper the option, the larger the share the fee takes. With Bitcoin at 80,000, the fee before GST is 8 per Bitcoin on every option the cap does not reach:
| Option quoted at | Fee per BTC | Share of premium | With 18% GST |
|---|---|---|---|
| 1,300 | 8 | 0.6% | 0.7% |
| 400 | 8 | 2.0% | 2.4% |
| 200 | 7 (the cap) | 3.5% | 4.1% |
| 80 | 2.8 (the cap) | 3.5% | 4.1% |
| 40 | 1.4 (the cap) | 3.5% | 4.1% |
On Delta's current offer the cap, 3.5% of the premium, starts to apply when the option is worth less than about 0.29% of Bitcoin's price, about 229 in this example. At the standard rate, 0.03% capped at 10%, the fee before the cap is 24 per Bitcoin. Those shares are for one side; a trade that is opened and closed pays twice.
Where fees bite: expiry day
On expiry day an at-the-money Bitcoin option can be worth less than 0.29% of Bitcoin's price, so the cap sets the fee. Opening and closing a one-lot straddle can then cost up to 7% of its premium on Delta's current offer, 8.3% with GST, and up to 20% before GST at the standard rate. Short-dated options are cheap, the fee is not, and the two meet on expiry day.
That is why Algoclear's paper trades and reports always include fees and GST.
How traders keep fees down
Without changing the strategy.
- Letting a sold option that is heading for zero expire, rather than buying it back for a few dollars: an option that expires worthless pays no fee at expiry. The trade-off is the risk of holding through the final hours.
- Avoiding very cheap, very short-dated options, where the fee reaches the cap: 3.5% of the premium on Delta's current offer, before GST.
- Counting legs. A condor pays four fees where a strangle pays two; the wings have to be worth it.
- Checking the fee against the target before entry. A target of a few dollars on a four-leg trade may be mostly fees.
Working out the fee
Notional is Bitcoin's price × lots × 0.001. For 10 lots with Bitcoin at 100,000, that is 1,000 USDT; 0.01% of it, Delta's current offer rate, is 0.10 USDT, plus 18% GST: about 0.12 USDT on entry and the same on exit. The card above does this sum on a real option.
When the cap applies
On Delta's current offer the cap is 3.5% of the premium, and it matters only for cheap options, whose premium is under about 0.29% of Bitcoin's price. For those, the fee is 3.5% of the premium plus GST. At the standard rate, 0.03% of the notional, the cap is 10%.
Fees and strategy choice
A four-leg trade such as an iron condor pays four fees on entry and up to four on exit. On small positions and short expiries that adds up, so it pays to check the fees before trading.
Delta Exchange charges works out a whole trade, futures included, and sets Delta's rates beside CoinDCX's, CoinSwitch's and Binance's.
Common mistakes with fees
They are small per trade and large per month.
- Judging a strategy on results that ignore fees.
- Forgetting GST, which adds 18% to every fee.
- Forgetting the exit. A position closed early pays the fee a second time.
- Setting a stop loss smaller than the fees already paid, so the trade starts beyond its own stop.
Written by the Algoclear team · Updated 5 November 2026 · Examples use Bitcoin options on Delta Exchange India.
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