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Binance Upgrades USDⓢ-Margined Futures Liquidity Provider Program (2022-07-20)
Binance is upgrading the USDⓈ-Margined Futures Liquidity Provider Program, where qualified liquidity providers can now enjoy higher maker fee rebates of up to 0.005%.
The new maker volume and percentage quoting score criteria will take effect from 2022-07-25 00:00 (UTC), while the maker fee rebates will be updated on 2022-08-02 04:00 (UTC).
Highlights of the Upgraded USDⓈ-Margined Futures Liquidity Provider Program:
- Maker fee rebates have been increased to 0.005% from 0.003%.
- More liquidity providers can participate across different tiers.
- The special fee settings for 13 selected USDT-M pairs have been removed.
The 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||Taker fee|
|1||0.05%||or||Top 60-75%||-0.001%||-0.014%||Standard taker fees as per your VIP level|
|Below 0.05%||and||Below top 75%||Standard maker fees as per your VIP level||Standard maker fees as per your VIP level|
How to participate:
- Clients who have a minimum futures trading volume of 100,000,000 BUSD-equivalent or a minimum spot trading volume of 20,000,000 BUSD-equivalent over a 30-day period on Binance or other exchanges may apply for this program. Successful applicants will be eligible for a three-week grace period, where they will be granted Tier 3 maker fee rebates, as well as an exemption from weekly reviews.
- Please provide proof of your trading volume to firstname.lastname@example.org or contact your Key Account Manager to apply for the above program and check details on quoting.
A: To be qualified by weekly USDⓈ-M Futures maker volume % over the total Binance USDⓈ-M Futures maker volume:
- Weekly maker volume % = (USDⓈ-M Futures maker trading volume over the week / total Binance USDⓈ-M Futures maker trading volume over the week ) * 100
- At the end of each week, the weekly maker volume % for each participant will be calculated, and maker fee rebates are awarded to eligible participants whose maker volume % is equal to or above 0.05%.
B: To be qualified by quoting ranking:
- Weekly ranking is based on weekly liquidity provider maker scores (all liquidity providers who score 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 maker fee rebates are awarded to participants in the 75th percentile of liquidity providers whose score is above zero.
- Binance will provide daily and weekly reports detailing your performance.
- 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 the 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, then the account will be removed from the program. New applications shall be submitted with a gap of one month from the expiration of the last trial.
- New participants will enjoy Tier 3 maker fee rebates (0.003% for USDT-margined pairs and 0.014% for BUSD-margined pairs) for the first three weeks. This is consistent with the fee settings prior to the upgrade.
- From the second week, if the performance of new participants qualifies them to exceed Tier 3, then these participants will enjoy higher maker fee rebates corresponding to the higher Tier.
- 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 according to the aforementioned program structure.
- Participants who join the program for more than three weeks will have their fee settings updated each Tuesday at 04:00 (UTC) based on the previous week’s performance.
- The special maker fee settings for the following 13 USDT-M pairs have been removed: ETH/USDT, SOL/USDT, LUNA/USDT, FTM/USDT, ADA/USDT, DOT/USDT, ATOM/USDT, ALGO/USDT, XTZ/USDT, AVAX/USDT, NEAR/USDT, ETC/USDT, and EGLD/USDT.
- The program’s main goal is to provide liquidity and depth to the Binance USDⓈ-Margined Futures market. We review the effectiveness of this program regularly. The program requirements will be adjusted periodically as new pairs are added and as 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.
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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.