We regularly review our fee structure with a focus on providing BMEX Token rewards and better incentives for Makers. We wanted to remind you, our users, of the three ways you can reduce your fees, one of which is by staking your BMEX Tokens.
For the full breakdown of our fee incentives, and what they mean for you, read on.
When we first published the BMEX Litepaper in 2022, we shared that BMEX (now live and trading) would become a way for our traders to further enhance their experience, both on and off the platform. Our fee structure, and the role that BMEX plays in them, are an example of that, as we want to better reward traders who play a key role in our ecosystem.
The BitMEX Fee Structure: Volume Incentives
|
30-day Rolling ADV* |
Taker Fee |
Maker Fee |
|
0 |
0.0750% |
0.020% |
|
1,000,000 |
0.0500% |
0.010% |
|
5,000,000 |
0.0400% |
0.000% |
|
10,000,000 |
0.0350% |
0.000% |
|
25,000,000 |
0.0300% |
0.000% |
|
50,000,000 |
0.0250% |
0.000% |
|
100,000,000 |
0.0240% |
-0.003% |
|
250,000,000 |
0.0230% |
-0.005% |
|
500,000,000 |
0.0220% |
-0.008% |
|
1,000,000,000 |
0.0175% |
-0.010% |
*We calculate 30-day Rolling ADV (“Average Daily Volume”) as the total of traded volumes in the past 30 days / 30 days. Hence, no matter if you trade only a few times or daily, you can always reach a higher fee tier.
In addition to volume incentives for lower fees or Maker rebates, there are three other ways for traders to receive fee discounts:
- Staking their BMEX Tokens
- Participating in our VIP programme
- Joining our DMM programme
All of these discounts are applicable and can be combined to receive up to:
- For XBT margined products: a minimum Taker Fee of 0.0175% and a maximum rebate of 0.0125%.
- For USDT margined products: a minimum Taker Fee of 0.02% – all users currently enjoy a rebate of 0.015%.
How to Reduce Your Fees by Staking Your BMEX Tokens
Traders receive a discount on Taker fees and can reach new guaranteed fee levels by staking their BMEX Tokens, as well as earn additional Maker rebates. The more BMEX staked, the higher the discount and rebate received.
The table below breaks down how staking BMEX can reduce your fees.
|
BMEX Staked |
Discount |
Maker Rebate |
Guaranteed Taker Fee* |
Guaranteed Maker Fee** |
|
0 |
0.00% |
|||
|
25 |
1.00% |
0.074% |
||
|
200 |
2.00% |
0.073% |
||
|
1,000 |
4.00% |
0.070% |
0.0190% |
|
|
10,000 |
6.00% |
0.065% |
0.0150% |
|
|
50,000 |
8.00% |
0.001% |
0.030% |
0.0040% |
|
100,000 |
9.00% |
0.002% |
0.025% |
-0.0020% |
|
250,000 |
10.00% |
0.002% |
0.024% |
-0.0020% |
|
500,000 |
12.00% |
0.003% |
0.023% |
-0.0030% |
|
1,000,000 |
15.00% |
0.004% |
0.022% |
-0.0040% |
* Includes Additional Taker Discount
** Includes Additional Maker Rebate
How to Reduce Your Fees by Joining the VIP Programme
We celebrate customers who have traded loyally with BitMEX, by rewarding our relationship with a VIP Programme.
As a member of our VIP programme, customers will be eligible for reduced fees based on their Market Share. Both Taker and Maker fee reductions will be based on Market Share across all derivatives contracts calculated in two different ways: Total Market and Applied Adjusted.
Total Market Share is calculated as:
(30-day ADV for your accounts) / (30-day ADV across all BitMEX users)
Understanding Applied Adjusted Market Share
We have introduced Applied Adjusted Market Share calculations to reward traders who are brave enough to take on our less liquid markets. These rewards can be further boosted by staking BMEX.
Applied Adjusted Market Share is calculated as:
(Adjusted Market Share x BMEX Multiplier)
Below, you will find how we calculate Adjusted Market Share and the BMEX Multiplier.
Adjusted Market Share
Adjusted Market Share is calculated as:
The Sum of (ADV per contract x Contract Multiplier) of your accounts (Sub Accounts included), divided by the Sum of (ADV per contract x Contract Multiplier) on BitMEX.
We use a Contract Multiplier to preferentially reward traders that take on our lower volume and recently listed contracts. The ADV calculation is conducted on a 30-day rolling window.
|
Contract Type |
Tier |
Contract Multiplier |
Tier Logic |
|
High Liquidity |
1 |
1 |
>25mio ADV |
|
Medium Liquidity |
2 |
10 |
1-25mio ADV |
|
Low Liquidity+Spot |
3 |
20 |
<1mio ADV |
|
New Listing |
4 |
50 |
Listed in the last 30 days |
BMEX Multiplier
As mentioned, we use a BMEX Multiplier to calculate one’s final Applied Adjusted Market Share.
This means the more BMEX you stake, the higher your Applied Adjusted Market Share and your subsequent fee tier level.
|
BMEX Staked |
Tier |
BMEX Multiplier |
|
0 |
1 |
0.1 |
|
100 |
2 |
0.5 |
|
10,000 |
3 |
1 |
|
100,000 |
4 |
2.5 |
How Your Market Share is Calculated
When determining your Market Share (which affects your eligibility for reduced fees), we take whichever is higher of:
- For Taker Fee Market Share value: Total Market Share vs. Applied Adjusted Market Share(Market Share, Applied Adjusted Market Share)
- For Maker Fee Market Share value: Maker Market Share vs. Applied Adjusted Maker Market Share)
The Taker and Maker fees for our VIP Programme are as follows:
|
Taker Fees |
Maker Fees |
||
|
Total Market Share |
Taker Fee |
Maker Market Share |
Maker Fee |
|
0.10% |
0.0500% |
0.10% |
-0.0050% |
|
0.25% |
0.0450% |
0.15% |
-0.0060% |
|
0.50% |
0.0400% |
0.20% |
-0.0070% |
|
0.75% |
0.0350% |
0.25% |
-0.0075% |
|
1.00% |
0.0300% |
0.50% |
-0.0080% |
|
1.50% |
0.0250% |
1.00% |
-0.0090% |
|
5.00% |
0.0225% |
2.50% |
-0.0100% |
|
10.00% |
0.0200% |
5.00% |
-0.0105% |
An Example of How to Boost Your Market Share
For you to better understand how to calculate your Market Share and exactly what it means for your fees, we’ve outlined a simple example below.
Let’s say BitMEX has two contracts:
- ABCUSD, which has an ADV of 100mio
- XYZUSDT which has an ADV of 10mio
Trader A currently trades 500k ADV all in ABCUSD and decides to join the VIP programme.
- Trader A’s Total Market Share is 0.45%.
- Trader A holds and stakes no BMEX Tokens.
- Trader A opts into the VIP programme and gets a Taker Fee of 0.045%.
Let’s say Trader A adds 150k trading ADV to the XYZUSDT contract.
- Trader A’s Total Market Share becomes 0.50%.
- Trader A’s Adjusted Market Share is 1.00%.
- Trader A gets a Taker Fee of 0.040%.
In this scenario, Trader A can further boost his fee reductions by staking BMEX Tokens.
- If Trader A buys 10,000 BMEX to stake, his Taker fee decreases to 0.030%.
- In about 40 days, the cost of buying that BMEX will have been covered by the fee discount.
- If Trader A buys 100,000 BMEX to stake, his Taker fee decreases further to 0.025%.
If you would like to sign up and become a member of our VIP programme, please reach out to our Support Team who are available 24/7.
How to Reduce Your Fees by Joining the DMM Programme
For customers admitted to our Designated Market Maker (DMM) programme, we offer trading benefits and additional cash rebates through a DMM agreement for eligible Market Makers that quote our contracts for a specified minimum notional, spread, and uptime.
Our DMMs can enjoy:
- The best fees including Maker rebates & low Taker fees
- Enhanced access to the trading engine
- Collateral support of up to 1,000,000 USDT
- Cash rebate of up to 105,000 USDT per month
For the full details of our DMM Programme, visit this page.
Please contact our Relationship Managers if you would like to be considered for our DMM Programme.
As shared above, these fee changes have been designed to reward those who play a key role in our ecosystem, as well as enhance the benefits of the BMEX Token to ensure our traders put theirs to good use.
If you have any questions about our fees, or anything else, we have a great Support Team who are available 24/7. You can also visit our FAQ page.
To be the first to know about our new listings, product launches, giveaways and more, we invite you to join one of our online communities and connect with other traders. For the absolute latest, you can also follow us on Twitter, or read our blog and site announcements.