This article will delve into the fee structure and fee calculations that we applied for Spot and Futures tradings on Bitget platform.
Bitget’s Fee Structure
1. Deposit Fees
There are no fees for crypto deposits on Bitget.
2. Trading Fees
Please always refer to the Bitget’s Fee Schedule Page for the updated trading fees for Spot and Futures trading on Bitget.
– For Spot trading, each trade will carry a standard trading fee of 0.1% for both Maker and Taker.
Tips! Spot trading transaction fee will be reduced 20% by using BGB payment. If you hold BGB in your account, your spot trading fees will be automatically subtracted from your BGB balance. When the BGB balance is insufficient to support the transaction fee, the transaction fee will be paid in full according to the original method.
– For Futures trading, each trade will carry a transaction fee of 0.02% for Maker and 0.06% for Taker. To find out how the futures fee is calculated, please refer to Futures Fee Calculations in the next section.
3. Withdrawal Fees
Bitget’s withdrawal fees are automatically adjusted based on the status of the market.
For updated withdrawal fees, please refer to the Fee Schedule Page.
Bitget’s Futures Fee Calculations
The futures fee on Bitget is calculated based on the product type and whether the trader is a Maker or a Taker. Before we delve into the formula, let’s discuss the Maker and Taker concepts.
1. What are Maker and Taker?
Markets are made up of makers and takers. An exchange needs both Maker and Taker to keep it running.
Let’s put it simply this way:
– Makers provide liquidity by creating a market for a token on the exchange.
– Takers remove liquidity by fulfilling open orders.
You are a Maker if you create buying or selling orders that aren’t carried out immediately, you wait for orders to be filled (e.g., “sell BTC when the price hits $100k”). Hence, by playing the Maker role, you create liquidity for the exchange – meaning it’s easier for others to buy or sell when the condition meets. For this reason, the exchange will reward makers with lower transaction fees.
On the other hand, you are a Taker if you fill someone else’s orders. You make use of the liquidity (that created by the Makers) to easily buy or sell assets instantly. By playing the Taker role and using the liquidity, you often pay a higher transaction fee.
2. Futures transaction fee formula on Bitget
Transaction fee = Order value x Fee rate
Order value = (Number of contracts x Price)
Trader A purchases 1 BTCUSDT futures contract with a market order. Trader B sells 1 BTCUSDT futures contract with a limit order. If the transaction price is 40,000 USDT, then:
Taker fee of Trader A = 1 × 40,000 × 0.06% = 24 USDT
Maker fee of Trader B = 1 × 40,000 × 0.02% = 8 USDT
Looking to get started with cryptocurrency? Try Spot and Futures trading now on Bitget!