Crypto exchange Bybit to increase fees on derivatives trading

The changes will affect Russia, Ukraine, and Belarus, among others

29.02.2024 - 13:32

332

1 min

What’s new? Crypto exchange Bybit has announced a change in fees for trading perpetual and futures contracts for users without Pro status from some countries. The fees will gradually start to increase from March 7, 08:00 UTC. The plan is to fully launch the changes by March 11, affecting Russia, Armenia, Ukraine, Tajikistan, Turkmenistan, Azerbaijan, Moldova, Belarus, and Georgia.

Press release

What else is known? Maker’s fees on perpetual and futures contracts for users without VIP status will be increased from 0,02% to 0,036%. For takers, the fee level will increase from 0,055% to 0,1%. For makers and takers with VIP 1 status, the fees after the upgrade will be 0,033% and 0,073% respectively. For VIP 2 level they will increase to 0,029% and 0,068%, for VIP 3 — to 0,025% and 0,064%.

For VIP 4, VIP 5, and Supreme VIP levels, on the contrary, the rate will be reduced. Thus, for VIP 4 makers it will remain unchanged at 0,012%, and for takers, it will be reduced from 0,032% to 0,03%. For VIP 5 makers it will remain unchanged at 0,01% and for takers, it will be reduced from 0,032% to 0,03%. Supreme VIP makers will still not be charged a fee, for takers it will be reduced from 0,03% to 0,028%.

The company specified that the user’s country is determined by the document provided in the process of passing the identification procedure (KYC). If documents from different countries were used for different levels of KYC, the residence is determined by the higher level of verification received.

Author: