Fee changes, higher discounts on BMEX token staking and more incentives to provide liquidity.
A new fee structure is coming which will bring more BMEX token rewards and better incentives for market makers.
What’s more, you can reduce your fees in three ways, one of which is by staking your BMEX tokens.
For full details of BitMEX’s fee changes, and what they mean for you, read on.
When BitMEX first published the BMEX white paper in early 2022, BitMEX shared that the BMEX token (now live and traded ) will be a way for BitMEX’s traders to further enhance their experience on and off the platform.
BitMEX’s new fee changes, and BMEX’s role in it, are one example as BitMEX looks to better reward traders who play a key role in BitMEX’s ecosystem.
Go to BitMEX’s Official Website
New fee structure
| 30 Day Rolling ADV* | Withdrawal Liquidity Fee | Provide liquidity fees |
|---|---|---|
| 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, January 17, 2023 at 00:00 UTC.
In addition to trading volume rewards with lower fees or offering liquidity rebates, there are three additional ways for traders to receive fee discounts:
- Stake their BMEX tokens to get discounts on fee tiers
- Join BitMEX’s VIP program
- Participate in BitMEX’s monthly market maker rewards program
All of these discounts are applicable and can be combined, with a minimum withdrawal liquidity fee of 0.0175% and a maximum rebate of 0.0125%.
Go to BitMEX’s Official Website
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 withdrawal liquidity fees.
The more BMEX you stake, the higher the discount you get.
In addition to BitMEX’s existing withdrawal liquidity fee discounts, traders can reach new guaranteed fee levels by staking their BMEX tokens, as well as earn additional liquidity rebates.
The following table lists how staking BMEX will save fees:
| BMEX Token | Discount | Provide liquidity rebate | Guaranteed withdrawal of liquidity fees* | Guaranteed Liquidity 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% |
** Including additional liquidity rebates
The top liquidity providers get a monthly share of 50,000 BMEX tokens.
BitMEX will reward BitMEX’s top liquidity providers with a chance to earn a share of 50,000 BMEX per month.
There are two ways to qualify:
- For every 0.10% of the total market maker shares (all derivatives contracts combined), the top liquidity providers will receive one qualification, up to a maximum of 25 qualifications.
- The top liquidity provider* for each contract can qualify once.
Each month, a reward pool of 50,000 BMEX will be paid out to 10 participants, broken down as follows.
Those who receive BMEX will be able to use them towards future fee waivers.
| # Number of market makers to be rewarded | Number of BMEX Tokens Rewarded |
|---|---|
| 1 | 25,000 |
| 3 | 5,000 |
| 2 | 2,500 |
| 5 | 1,000 |
Go to BitMEX’s Official Website
Introducing BitMEX’s VIP program
To celebrate those customers who remain loyal to BitMEX trading, BitMEX will reward and formalize BitMEX’s relationship with a VIP program.
By participating in the VIP program, customers will be eligible for fee reductions based on their market share.
The reduction in fees for withdrawing liquidity and providing liquidity will be based on the market share of all derivatives contracts.
BitMEX’s Relationship Managers are always in touch with clients, however, if you think you meet the market share requirements and have not been reached, please contact BitMEX’s customer service team.
The fee schedule for the VIP program is as follows:
Taker Fees
| Total market share | Taker fee |
|---|---|
| 0.10% | 0.0500% |
| 0.25% | 0.0450% |
| 0.50% | 0.0400% |
| 0.75% | 0.0350% |
| 1.00% | 0.0300% |
| 1.50% | 0.0250% |
| 5.00% | 0.0225% |
| 10.00% | 0.0200% |
Maker Fees
| Maker market share | Maker fee |
|---|---|
| 0.10% | -0.0050% |
| 0.15% | -0.0060% |
| 0.20% | -0.0070% |
| 0.25% | -0.0075% |
| 0.50% | -0.0080% |
| 1.00% | -0.0090% |
| 2.50% | -0.0100% |
| 5.00% | -0.0105% |
As shared above, these fee changes are intended to reward those who play a key role in BitMEX’s ecosystem, as well as to increase the interest in BMEX tokens, and to continuously provide BitMEX’s traders with ways to get their tokens good use.
Go to BitMEX’s Official Website
Please check BitMEX official website or contact the customer support with regard to the latest information and more accurate details.
BitMEX official website is here.
Please click "Introduction of BitMEX", if you want to know the details and the company information of BitMEX.
Comment by Hans
April 24, 2024
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