Binance USDⓈ-Margined Futures Liquidity Provider Program Upgrade (2022-03-07)
As an integral part of our efforts in delivering more value to you, Binance is upgrading the USDⓈ-Margined Futures Liquidity Provider Program. Qualified liquidity providers are able to benefit from higher maker rebates of up to 0.003% and access to Binance Futures low-latency API service.
- The maker volume and percentage quoting score calculations start from: 2022-03-07 00:00 (UTC)
- The maker fee rebates will be updated on: 2022-03-15 04:00 (UTC)
New Binance USDⓈ-Margined Futures Liquidity Provider Program is as follows:
|Tier||Weekly USDⓈ-M Futures maker volume % over the total Binance USDⓈ-M Futures maker volume||and/or||Quoting ranking||Maker fee for USDT-M pairs||Maker fee for BUSD-M pairs||Maker fee for 13 selected USDT-M pairs||Taker fee|
|1||0.35%||or||Top 50-75%||-0.001%||-0.014%||-0.005%||Standard taker fees as per your VIP level|
|Below 0.35%||and||Below top 75%||Standard maker fees as per your VIP level||-0.010%||Standard maker fees as per your VIP level|
How to participate:
Users with a minimum futures trading volume of 100,000,000 BUSD equivalent over a 30-day period on other exchanges or platforms may apply for this program and will be eligible for a three-week grace period, where eligible applicants are granted Tier 3 maker fee with the exemption of weekly reviews.
Please email email@example.com or contact your Key Account Manager to provide proof in order to apply for this trial and to check details on quoting and the 13 selected USDT-M pairs.
A: To be qualified by weekly USDⓈ-M Futures maker volume % over the total Binance USDⓈ-M Futures maker volume:
- Users whose weekly USDⓈ-M Futures maker volume percentage reaches 0.35% will be qualified for Tier 1 maker fee rebates;
- Users whose weekly USDⓈ-M Futures maker volume percentage reaches 0.50% will be qualified for Tier 2 maker fee rebates;
- Users whose weekly USDⓈ-M Futures maker volume percentage reaches 2.00% will be qualified for Tier 3 maker fee rebates.
B: To be qualified by quoting ranking:
- Weekly ranking is based on weekly liquidity provider maker scores (All liquidity providers scored above zero are ranked)
- Weekly maker score = Sum of seven daily maker scores
- Daily maker score = Sum of maker scores on each pair (maker volume * qualified % * pair weight)
- At the end of each week, participants are ranked by their weekly maker scores, and negative maker fees are awarded to participants in the top 75th percentiles of liquidity providers scored above zero.
- Binance team will provide daily and weekly reports detailing your performance review.
- Liquidity providers will be reviewed on a weekly basis (Monday 00:00 UTC to Sunday 23:59 UTC).
- Maker fee rebates are paid immediately upon trade execution. Your eligibility to receive maker fee rebates is reviewed and adjusted once a week based on your previous week's performance on all qualified pairs.
- Fee tier adjustments are automatically updated every Tuesday 04:00 (UTC).
- Participants with unqualified weekly results for three consecutive weeks will receive notification emails for two weeks and if no improvements are observed, the account will be removed from the program. New applications shall be submitted with an application gap of 1 month from the last trial’s expiration.
- New participants will enjoy Tier 3 maker fees (-0.003% for USDT-margined pairs and -0.014% for BUSD-margined pairs) for the first three weeks. From the fourth week, only new participants who show qualified performance in the third week of the three-week grace period will enjoy maker fee rebates of the level in correspondence to their performance.
- Participants who join the program for over 3 weeks will have their fee settings updated each Tuesday at 04:00 (UTC ) based on the previous week’s performance.
- The program’s main goal is to help provide liquidity and market depth to the Binance USDⓈ-Margined Futures market. We will be reviewing the effectiveness of this program regularly. The program requirements will be adjusted periodically as new pairs are added and market conditions change. New changes may be added with at least a week’s notice.
- All trading volumes and metrics related to the program are measured by Binance at its sole and absolute discretion.
- Self trades will be excluded from maker volume calculations.
Risk Warning: Futures trading carries substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movements. The information here should not be regarded as financial or investment advice from Binance. All trading strategies are used at your discretion and your own risk. Binance will not be liable to you for any loss that might arise from your use of Futures. To learn more about how to protect yourself, visit our Responsible Trading resource page.
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.