Navigating the world of cryptocurrency derivatives requires a clear understanding of associated costs. This guide breaks down the essential fee calculation rules for trading perpetual contracts on a major exchange, ensuring you can trade with confidence and clarity.
How Trading Fees Work on Bybit
Every executed trade on the platform incurs a fee. It's crucial to understand that these fees are only charged once an order is successfully filled. The fee is automatically deducted from your account balance, and it's important to note that this deduction does not impact the initial margin you posted for the trade.
The fee structure is designed around two primary roles in the market:
- Liquidity Provider (Maker): When you place an order that adds depth to the order book, such as a limit order that isn't immediately filled, you are providing liquidity. As a reward for this activity, you receive a rebate, meaning your fee is negative, and your account balance effectively increases.
- Liquidity Taker (Taker): When you place an order that is executed immediately against an existing order in the book, such as a market order, you are taking liquidity. For this, you pay a standard fee, which is a positive cost deducted from your balance.
Your trade history will clearly indicate these transactions: a positive fee means you paid a taker fee, while a negative fee means you received a maker rebate.
Fee Structure for Inverse Perpetual Contracts
Inverse contracts are quoted and settled in the base cryptocurrency (e.g., BTCUSD is settled in BTC). The standard fee schedule for major inverse perpetual contracts is as follows:
| Contract Pair | Maximum Leverage | Maker Fee (Provider) | Taker Fee (Taker) |
|---|---|---|---|
| BTC/USD | 100x | -0.025% | 0.075% |
| ETH/USD | 50x | -0.025% | 0.075% |
| XRP/USD | 50x | -0.025% | 0.075% |
| EOS/USD | 50x | -0.025% | 0.075% |
Calculating Fees for Inverse Contracts
The formula for calculating your fee on an inverse trade is:
Fee = Order Value × Fee Rate
Where Order Value = Contract Quantity / Entry Price
Practical Example:
Imagine Trader A uses a market order to buy (go long) 10,000 contracts of BTCUSD. This order is matched with Trader B's limit order to sell (go short) 10,000 contracts. The entry price for the trade is $8,000.
Trader A (Liquidity Taker): Pays a fee.
- Fee = (10,000 / 8,000) × 0.075% = 0.0009375 BTC
Trader B (Liquidity Provider): Receives a fee rebate.
- Rebate = (10,000 / 8,000) × -0.025% = -0.0003125 BTC (a credit of 0.0003125 BTC)
After execution, Trader A’s account is debited 0.0009375 BTC, and Trader B’s account is credited 0.0003125 BTC. To explore more strategies for optimizing your fee expenditure, you can review advanced trading resources.
Fee Structure for USDT Perpetual Contracts
USDT-margined (linear) contracts are quoted and settled in USDT, making their value more straightforward to calculate in dollar terms. The fee schedule is similar.
| Contract Pair | Maximum Leverage | Maker Fee (Provider) | Taker Fee (Taker) |
|---|---|---|---|
| BTC/USDT | 100x | -0.025% | 0.075% |
Calculating Fees for USDT Contracts
The formula for calculating your fee on a USDT-margined trade is:
Fee = Order Value × Fee Rate
Where Order Value = Quantity × Entry Price
Practical Example:
Imagine Trader A uses a market order to buy 10 contracts of BTCUSDT. This is matched with Trader B's limit order to sell 10 contracts. The entry price is 8,000 USDT.
Trader A (Liquidity Taker): Pays a fee.
- Fee = (10 × 8,000) × 0.075% = 60 USDT
Trader B (Liquidity Provider): Receives a fee rebate.
- Rebate = (10 × 8,000) × -0.025% = -20 USDT (a credit of 20 USDT)
After execution, Trader A pays 60 USDT in fees, and Trader B receives 20 USDT.
Frequently Asked Questions
What is the difference between a maker and a taker?
A maker adds an order to the order book (like a limit order), providing liquidity to the market. A taker removes an order from the book by matching with it instantly (like a market order), taking liquidity. Makers receive a fee rebate, while takers pay a fee.
When exactly are trading fees charged?
Fees are charged only upon the successful execution of your order. If an order is canceled or remains open, no fee is applied. The fee is deducted from your available account balance after the trade is complete.
Why would I receive a negative fee?
A negative fee is actually a credit to your account. It is a rebate paid to you for acting as a liquidity provider (maker) by placing a limit order that other traders eventually execute against.
Do fees affect my position's margin or PnL?
No, fees are separate from your position's calculations. They are deducted from your available wallet balance and do not impact your initial margin, unrealized PnL, or liquidation price.
How can I reduce my overall trading fees?
The most direct way is to aim to be a maker by using limit orders whenever possible. This allows you to earn rebates instead of paying fees. Furthermore, some platforms offer reduced fees for users holding a certain amount of the exchange's native token.
Are the fee rates the same for all trading pairs?
While the rates for major pairs like BTC and ETH are often standardized, some exchanges may have different fee schedules for less liquid altcoin pairs. Always check the official fee schedule for the specific asset you are trading. For a clear and concise view of real-time tools and fee structures, check this comprehensive platform.