Fee Disclosure - Sleeper Markets LLC

Last Updated on: August 4, 2026

FCM Name: Sleeper Markets LLC

FCM NFA ID: 0570580

This Fee Disclosure Statement outlines the fees associated with trading on the Kalshi Exchange through Sleeper Markets LLC, a registered Futures Commission Merchant (FCM). The fee structure is simple and transparent, with a per-contract charge split between the FCM and the designated contract market (DCM).

- There are no platform fees, account maintenance fees, inactivity fees, or margin interest charges.
- All fees are per-side, per contract, and apply only to executed trades.
- Sleeper Markets LLC passes through the Kalshi exchange fee without markup.

- Sleeper Markets LLC may periodically offer promotional markets subject to reduced fees. The applicable promotional fee schedules will be added to the end of this document as they are established and implemented. Markets subject to reduced promotional fees will be clearly identified within the Sleeper application. Before a customer submits an order to purchase or sell a contract, the application will display the applicable fees and incorporate those fees into the transaction calculations presented to the customer. Fees charged in connection with a promotional market will not exceed $0.02 per contract.

Sleeper Markets LLC may modify its fees from time to time. If a change results in an increase to any fee, the Firm will provide affected FCM customers with at least 15 days’ advance notice by email or through a notice posted on the customer dashboard.

The Firm may add or modify promotional fee schedules set forth below without advance notice, provided that the applicable promotional fee does not exceed $0.02 per contract.
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The fee charged per contract is calculated based on the contract’s price at the time of the transaction using the following formula:

Fee per contract = 0.02P + 0.02004P(1 − P)

For purposes of this formula, P represents the contract price expressed as a decimal between 0.01 and 0.99. The formula is designed so that lower-priced contracts generally have lower fees, while fees increase gradually as the contract price increases and approach, but do not exceed, $0.02 per contract. The applicable fee is calculated automatically and displayed before the transaction is completed. Fees are rounded to the nearest cent for the entire transaction.

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