The cheapest-looking futures venue is not always the cheapest outcome
A lower fee line can lose its advantage if liquidity is thinner, slippage is worse, or execution quality is less predictable.
That is why futures users should compare total trading friction, not just one fee cell.
- Fees matter, but they are not the whole futures cost picture.
- Liquidity and slippage can erase a fee advantage.
- Execution quality matters more as order size or frequency rises.