Before sending ETH, estimate the network fee as the transaction’s expected gas use multiplied by its effective price per unit of gas. For a basic transfer, Ethereum’s example uses 21,000 gas. At an illustrative base fee of 10 gwei and a 2 gwei priority fee, the fee is 0.000252 ETH—separate from the ETH you send. Your wallet’s estimate is the practical figure to review before confirming, since fees change with network conditions.
Calculate the fee: gas used × effective price
For an EIP-1559 transaction, the calculation is:
Estimated fee (ETH) = estimated gas used × effective fee per gas (gwei) ÷ 1,000,000,000
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One gwei is 0.000000001 ETH. The effective price per gas is based on the block’s base fee and the transaction’s priority fee, subject to the transaction’s maximum fee per gas. Ethereum’s gas documentation explains the units and calculation.
Understand the figures in your wallet
- Gas used is the computation the transaction requires. A plain ETH transfer is shown as 21,000 gas in Ethereum’s example; interacting with a smart contract can require more. See Ethereum’s transaction documentation.
- Base fee is the per-gas charge set by the protocol and adjusted as network demand changes. It is burned.
- Priority fee is a per-gas tip intended to encourage validators to include a transaction. A higher tip can improve inclusion prospects, particularly when the network is busy, but raises the potential cost.
- Max fee per gas (
maxFeePerGas) is the most you authorize per unit of gas, including the base fee and tip. It is a cap, not necessarily the price you pay. - Gas limit (
gasLimit) is the maximum computation budget allowed for the transaction. It is not the expected gas use or necessarily the final bill.
Under EIP-1559, the effective price is the base fee plus the tip that fits under the max-fee cap. If the cap leaves less room above the base fee than your requested tip, the effective tip is lower. You pay for gas consumed at the effective price when the transaction is included; unused gas is refunded. The protocol’s details are in EIP-1559.
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Worked example: a 1 ETH transfer
Ethereum’s documentation gives an illustrative calculation using 21,000 gas, a 10 gwei base fee and a 2 gwei priority fee:
21,000 × (10 + 2) = 252,000 gwei = 0.000252 ETH
This example is not a live quote. If you send 1 ETH at those illustrative fee settings, the sender’s total debit is 1.000252 ETH, while the recipient receives 1 ETH. Of the fee, 0.00021 ETH is the burned base-fee portion and 0.000042 ETH is the validator tip.
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Check the wallet estimate before confirming
Most wallets suggest a transaction fee based on current conditions. Treat it as an estimate, not a fixed price: the base fee and likelihood of prompt inclusion can change while you wait. Ethereum’s wallet guide describes reviewing the suggested fee and transaction details before confirmation.
- Enter the recipient and amount, then review the wallet’s estimated fee and transaction details.
- Check that the recipient address is correct and that both sides are using the intended network.
- Make sure your balance covers the amount sent plus the fee.
- If the fee or timing is unsuitable, consider waiting for lower network demand. If you consider a layer 2 network, confirm that it meets the transaction’s needs and that the recipient can use that network; a layer 2 transfer is not the same as sending on Ethereum mainnet.
Why the final charge can differ—or a transaction can fail
The gas amount needed depends on what the transaction does, so 21,000 gas is a reference for a plain transfer, not a universal setting for contract interactions. The effective per-gas price depends on the block that includes the transaction, and the max fee only sets an upper bound. If your max fee is below the base fee when a block is considered, the transaction cannot be included in that block under those fee settings.
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Fees are paid in ETH even when a transaction fails. A transaction that runs out of gas can consume the gas supplied to it, so a failed operation can still cost money. Do not treat the gas limit as a guaranteed bill or assume failure means the fee is refunded.
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