Bybit is a widely recognized and intuitive crypto trading platform that is known to offer high-end and impressive features. One of the most prominent attributes that grab the attention of a vast audience is its fee structure.
The fee charged by Bybit is not only fair but transparent as well. It varies based on the different trading options supported, such as spot, derivatives and margin trading.
In this article, we will take a closer look at the details of the fee you will have to pay if you use Bybit, depending on the different trading options you choose.
Bybit now also offers the copy trading feature for all traders. By signing up with our link, you can get a bonus of up to $4,380 on yourfirst deposit. (Bonus may vary based on deposit amount)
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Types of Bybit Fees Charged
There are different types of fees charged by the Bybit exchange, including fees for making deposits, withdrawals, margin trading, funding fees and more.
Familiarizing yourself with details of the Bybit fees should be a priority. For example, if you want to trade crypto using the exchange, you need to know about the trading fee you will be charged.
As the term “trading fee” suggests, it is the cost of transaction users have to pay whenever they place an order on the exchange.
The cost structure can change based on different types of transactions and may include several types of costs.
The trading fee charged by Bybit is based on the traditional market maker and taker fee model. A brief introduction and details of the maker and taker fees are mentioned below.
Also read: A Guide to Learn About Bybit Copy Trading
What are Market Makers and Takers?
Learning about market makers and takers while exploring Bybit fees can help you get a good idea of what to expect when using the exchange.
When the traders place an order in a marketplace, they match the buy and sell orders in the order books. The system of market maker and taker is such to determine how much trading fee will the users have to pay, based on how these orders are classified.
To put it simply, the trading fee for makers and takers is different based on whether they are adding to or taking away from the order book.
A market maker provides liquidity to the market and adds to the market depth of the order book. A market taker, on the other hand, removes liquidity from the order book.
A further difference between the two terms can be clarified with the help of our table below.
Based on how quickly you fill an order, you will be categorized as a market maker or taker and be required to pay the fee as follows:
- Trading fee for market makers: -0.025%
- Trading fee for market takers: 0.075%
Fee for Derivatives Trading
Bybit fees charged for derivatives trading is also based on the market maker and taker model. The formula used to calculate the fee for derivatives trading is as follows:
Trading Fee = Order Value × Trading Fee Rate
(Order Value = Quantity / Executed Price)
Further details of the derivatives trading fee for perpetual and futures contracts can be seen in the table below.
Bybit Spot Trading Fee
Bybit charged 0.1% maker and taker trading fee. You can calculate your spot trading fees with the following formula.
Trading Fee = Filled Order Quantity x Trading Fee Rate
Bybit Withdrawal and Deposit Fees
The users of Bybit have not been required to pay any deposit fees since 2021.
On the other hand, the crypto exchange charges a withdrawal fee that varies from one cryptocurrency to another due to the difference in every asset’s network or miners’ fees.
The table below can give a detailed look into Bybit withdrawal fee.
While there is no minimum deposit limit for Bybit users, there is a limitation on how much they can withdraw. The table below shows the details of the withdrawal amount.
The withdrawal limit can be increased if the users complete their KYC (know your customer) verification. There are two levels of KYC verification and with each level, the limit of withdrawal further increases.
Here are the details.
- KYC Level 0: Withdrawal limit of 2 BTC
- KYC Level 1: Withdrawal limit of 50 BTC
- KYC Level 2: Withdrawal limit of 100 BTC
Bybi Leverage Trading Fees
Leverage trading is an advanced trading strategy supported by Bybit. This strategy allows the traders to open big trading positions on borrowed funds that are called ‘leverage’.
The Bybit exchange offers one of the highest leverages in the industry, which is up to 100x. This requires the traders to put up initial and maintenance margins as well.
The fee Bybit charges for leverage trading is based on the price and quantity of leverage they opt for. However, since leverage increases the chances of getting good profits (not guaranteed), it also increases the fee one has to pay.
For example, if you opt for 2x leverage for 100 USDT, you will be required to pay 0.06% on the value of 200 USDT.
If you are looking to leverage trade Bitcoin up to 100x, sign-up on Bybit today. You can also use this link to claim a bonus on your first deposit.
Bybit Funding Fee Charged
Funding fee is like incurring interest in spot margin trading. This type of fee ensures that the last traded price is tied to the global spot price. There are a few rules followed by Bybit when it comes to funding fees.
Here is what you should know:
- If the traders hold a position at 16:00 UTC, 00:00 UTC and 08:00 UTC, only then can they pay or receive funding fees.
- Long position holders pay short position holders when the funding rate is positive.
- Short position holders pay long position holders when the funding rate is negative.
With Bybit, the funding fee is calculated using the following formula.
Funding Fee = Position Value × Funding Rate
(Position Value = Quantity of Contract / Mark Price)
Learning about Bybit fees is essential and helpful for all investors and traders who want to use the exchange. Offering fair and transparent fee is one of the biggest selling points of this advanced trading platform. However, it is important to know that the fee users have to pay depends on the trading option they choose. Whether it is margin, spot or derivatives trading the intuitive exchange has a varying fee structure for each one, as seen above. Therefore, if you intend on using Bybit, you should know the details of the different types of fees mentioned above first.
To get a better idea of what Bybit has to offer, you can take a look at our full tutorial below.