Metabolic rates are one of many measures that are used to explain species' response to environmental change. Static respirometry is used to calculate the standard metabolic rate (SMR) of fish, and when combined with exhaustive chase protocols it can be used to measure maximum metabolic rate (MMR) and aerobic scope (AS) as well. While these methods have been tested in comparison to swim tunnels and chambers with circular currents, they have not been tested in comparison with a no‐chase control. We used a repeated‐measures design to compare estimates of SMR, MMR and AS in European perch Perca fluviatilis following three protocols: (a) a no‐chase control; (b) a 3‐min exhaustive chase; and (c) a 3‐min exhaustive chase followed by 1‐min air exposure. We found that, contrary to expectations, exhaustive chase protocols underestimate MMR and AS at 18°C, compared to the no‐chase control. This suggests that metabolic rates of other species with similar locomotorty modes or lifestyles could be similarly underestimated using chase protocols. These underestimates have implications for studies examining metabolic performance and responses to climate change scenarios. To prevent underestimates, future experiments measuring metabolic rates should include a pilot with a no‐chase control or, when appropriate, an adjusted methodology in which trials end with the exhaustive chase instead of beginning with it.