Overview of Bybit Option Fees

There are three types of fees involved in options trading – transaction fees, delivery fees and liquidation fees.

Transaction fee

A transaction fee, calculated in USDC, will be charged when a position is opened or closed. Maker orders on Bybit use the same rate as Taker orders.

Maker rate Taker rate
Options 0.03% 0.03%
Note: The transaction fee for a single contract cannot be higher than 12.5% ​​of the option price.
Calculation Formula

Transaction fee = (Taker/Maker rate x index price, the maximum proportion of transaction fee to order price x option transaction price) interval minimum x number of option transactions

Example

Suppose Ann places the following options trade:

  • Type: Call
  • Strike Price: $45,000
  • Order Quantity: 0.3 BTC
  • Due Date: October 31, 2021
  • Underlying asset: BTC

When the BTC index price is $42,000, Ann places a call option of 0.3 BTC and the transaction price is $3000.

In this example, Ann needs to pay a transaction fee of 3.78 USDC, calculated as follows:

Transaction fee = (0.03%×42,000, 12.5%×3000) range minimum×0.3

Some unexecuted orders need to wait to enter the order table.

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Delivery fee

A delivery fee will be charged when the option is exercised.

Take the call option, for example. When the delivery price of the underlying price is higher than the strike price, the option is exercised. The buyer receives the option proceeds, while the seller is obliged to sell the option. Both parties are required to pay a delivery fee. Only unexercised options are exempt from delivery fees.

Note: The delivery fee for a single contract cannot be higher than 12.5% ​​of the option value.

Calculation Formula

Call option delivery fee = [Basic delivery rate × index price, the maximum percentage of delivery fee to option value × (estimated delivery price – exercise price)] minimum value of the interval × number of positions

Example

Let’s look at Ann’s example again:

  • Type: Call
  • Underlying asset: BTC
  • Strike Price: $45,000
  • Amount of transactions: 0.3 BTC
  • Due Date: October 31, 2021
  • Estimated delivery price: $46,050

When the options contract expires, the BTC index price is $46,000. Ann exercises the call option.

In this example, Ann needs to pay a delivery fee of 2.07 USDC, calculated as follows:

Delivery fee = [0.015% × 46,000, 12.5% ​​× (46,050 − 45,000)] × 0.3 range minimum

From 7:30 a.m. (UTC) to 8:00 a.m. (UTC) on the expiration date of the options contract, Bybit will calculate the estimated delivery price based on the BTC spot index price.

Calculation formula

Delivery fee for put option = [Basic delivery rate × index price, the maximum percentage of delivery fee to option value × (exercise price – expected delivery price)] minimum value of the interval × number of positions

Example

Let’s look at the put option:

  • Type: Put
  • Underlying asset: BTC
  • Strike Price: $42,000
  • Amount of transactions: 0.3 BTC
  • Due Date: October 31, 2021
  • Estimated delivery price: $39,050

Bob buys a put on BTC-31OTC21-42000-P. When the options contract expires, the BTC index price is $40,000. Bob exercises the put.

In this example, Bob needs to pay a delivery fee of 1.8 USDC, calculated as follows:

Delivery fee = [0.015% × 40,000, 10% × (42,000 − 39,050)] × 0.3 range minimum

From 7:30 a.m. (UTC) to 8:00 a.m. (UTC) on the expiration date of the options contract, Bybit will calculate the estimated delivery price based on the BTC spot index price.

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Forced liquidation fee

In options trading, there will be an additional fee for liquidation.

Forced liquidation rate
Options 0.2%
Calculation Formula

Forced Liquidation Fee = Forced Liquidation Rate × Option Transaction Quantity × Index Price

Example

In the following options transactions:

  • Type: Call
  • Strike Price: $37,000
  • Amount of transactions: 0.3 BTC
  • Due Date: May 31, 2021
  • Underlying asset: BTC

Bob is the seller of the BTC-31MAY21-37000-C option. If the BTC index price rises to $42,000, he needs an additional $300 margin to maintain the position, but the available balance in the BTC account is insufficient, so he is forced to close the position.

In this example, Bob needs to pay a liquidation fee of 25.2 USDC, calculated as follows:

Liquidation Fee = 0.2% × 0.3 × 42,000

The forced liquidation fee is automatically added to the insurance fund after deducting the transaction fee.

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