A new fee structure is on the way, bringing with it more BMEX Token rewards and better incentives for makers. What’s more, there are three ways you can reduce your fees, one of which is by staking your BMEX Tokens. For the full breakdown on our fee changes, and what they mean for you, read on.
When we first published the BMEX Litepaper at the start of 2022, we shared that BMEX tokens (now live and trading), would become a way for our traders to further enhance their experience, both on, and off the platform. Our new fee changes, 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 New Fee Structure
|
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% |
The fee structure will be updated on Tuesday 17 January 2023 at 00:00 UTC.
*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 additional ways for traders to receive fee discounts:
- Staking their BMEX Tokens for Fee Tier Discounts
- Participating in our VIP programme
- Participating in our monthly maker incentive scheme
All of these discounts are applicable and can be combined, up to a minimum Taker Fee of 0.0175% and a maximum rebate of 0.0125%.
How to Reduce Your Fees by Staking Your BMEX Tokens
Since February 2022, BitMEX traders have been able to use their BMEX Tokens to reduce their Taker fees. With the more BMEX staked, the higher the discount received.
In addition to our existing Taker Fee Discount, traders can reach new guaranteed fee levels by staking their BMEX Tokens, as well as earn additional Maker rebates.
The table below, breaks down how staking BMEX will lead to fee reductions.
|
BMEX Token |
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
Top Market Makers Can Receive a Share of 50,000 BMEX Tokens per Month
We’ll be rewarding our top market makers with a chance to receive a share of 50,000 BMEX per calendar month.
There are two ways to be eligible:
- Top market makers will earn one entry per 0.10% of total market maker share (all derivatives contracts combined) up to a maximum of 25 entries.
- The top maker in each contract* earns one entry to win.
Each month, the rewards pool of 50,000 BMEX, will be paid out to 10 entries as broken down below. Those awarded BMEX will be able to stake them towards future fee reductions.
|
# of Market Makers Rewarded |
Number of BMEX Tokens Awarded |
|
1 |
25,000 |
|
1 |
5,000 |
|
2 |
2,500 |
|
5 |
1,000 |
Introducing the VIP Programme
To celebrate those customers who have traded loyally with BitMEX, we’ll be rewarding and formalising our relationship with a VIP Programme.
By partaking in the VIP programme, customers will be eligible for reduced fees, based upon their market share. Both Taker and Maker Fee reductions will be based on market share across all derivatives contracts.
Our relationship managers have been contacting customers, however, if you believe you meet the market share requirements and have not been contacted, do please reach out to our support team.
The fee schedule for the VIP Programme is 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% |
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 and constantly provide a way for our traders to put theirs to good use.
In the meantime, if you have any questions about these fee changes before they come into effect, we have a great Support Team who are available 24/7. You can also visit our FAQ page.
Best,
BitMEX.
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