About Spot Trading on BitMEX

Spot trading is the purchase and sale of tokens and coins at current market prices, with immediate settlement.

Spot trading is different from derivatives trading because you need to own the underlying asset to place a buy or sell order.

Your BitMEX wallet can be shared between spot and derivatives trading.

Once you send an order, your balance will be reduced immediately until the order is executed or cancelled.

Market Order:
A market order is an order that is executed immediately at the current market price. Traders use this order type when urgent execution is required.
Limit Order:
A limit order is used to specify the highest or lowest price at which a trader is willing to buy or sell. Traders use this order type to minimize their transaction costs, but they sacrifice guaranteed execution. This is because if the order is placed out of the market, it may not be executed.

BitMEX spot fees are charged in the quoted currency.

This means that fees are drawn from the currency you spend when you buy and the currency you receive when you sell.

For example, if you place an order to buy XBT in USDT (quote currency), your fee will be charged in USDT.

When trading on BitMEX, there are fees for withdrawing liquidity and for providing liquidity.

Withdrawal liquidity fees are charged when you are the party that withdraws liquidity in a transaction, and liquidity-providing fees are charged when you are the liquidity-providing party.

“Withdrawing liquidity” refers to an order to trade at market prices, and “providing liquidity” refers to an order to trade at a limit price.

When submitting an order, BitMEX assumes the highest fee based on the corresponding fee tier and locks the total order + fee.

For example, if a user places a buy order for 1 XBT at a price of 40,000.00 USDT, the system will check whether the user has enough balance to execute the transaction.

In the case of a fee rate of 0.1%, the user must have at least one in his wallet.

40,040.00 USDT is required to submit this transaction; if the actual fee amount at the time of the order transaction is lower than the assumed fee, the remainder will be refunded to the user.

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