Binance Futures Introduces Updates to Taker Program, Offering Fee Discounts
Jessie A Ellis Apr 22, 2024 09:36
Binance Futures has introduced a new Taker Program, offering up to 20% fee discounts on USDT-margined perpetual and delivery contracts, and a promotional rate on USDC-margined perpetual contracts. The program will be effective from April 30, 2024.
Binance Futures, the futures trading platform of cryptocurrency exchange Binance, has recently unveiled updates to its Taker Program. These updates aim to offer enhanced benefits to eligible users who engage in trading activities on the platform.
Effective from April 30, 2024, at 00:00 (UTC), eligible users will be able to enjoy a taker fee discount of up to 20% on eligible USDT-margined perpetual and delivery contracts. Additionally, users can take advantage of a promotional taker fee rate of 0.0136% when trading eligible USDC-margined perpetual contracts. This promotional fee rate will be available until July 1, 2024, at 23:59 (UTC).
To participate in the Taker Program, users must reach a total futures trading volume of 100,000,000 USDT equivalent within the last 30 days. Once eligible, users can submit an application for the program at any time. The assessment for eligibility will be conducted during the weekly review of the Taker Program.
Users who have previously applied for the Taker Program are not required to resubmit the application form. Their eligibility will be assessed automatically. The taker fee discount and promotional fee rate will become effective on the following Tuesday at 00:00 (UTC) after the weekly review.
Based on their weekly trading volume and volume share on BTC and ETH pairs, users can qualify for higher taker fee discounts on eligible USDT-margined perpetual and delivery contracts. The table below provides an overview of the fee tiers and their corresponding discounts.
It is important to note that from March 26, 2024, at 00:00 (UTC) to July 1, 2024, at 23:59 (UTC), users who qualify for the Taker Program and achieve a minimum 0.5% weekly taker volume share on USDC-margined perpetual contracts will receive a fee tier upgrade one level higher than their actual qualification. Alternatively, users can qualify for a higher fee tier and corresponding taker fee discount on eligible USDT-margined perpetual and delivery contracts based on their weekly trading volume and volume share on BTC and ETH pairs.
To illustrate, let's consider User A, who achieves a weekly taker volume of 3,500M USDT equivalent, a 2% weekly taker volume share on BTC and ETH pairs, and a 0.4% weekly taker volume share excluding BTC and ETH pairs on USD‚ìà-M perpetual and delivery contracts from April 22, 2024, at 00:00 (UTC) to April 28, 2024, at 23:59 (UTC). Based on their weekly USD‚ìà-M futures taker volume share on BTC and ETH pairs, User A qualifies for Fee Tier 3.
Consequently, User A will enjoy a 20% taker fee discount on trades made on USDT-margined perpetual and delivery contracts starting from April 30, 2024, at 00:00 (UTC)to July 29, 2024, at 23:59 (UTC). Furthermore, User A will also benefit from the promotional taker fee rate of 0.0136% when trading eligible USDC-margined perpetual contracts during the same period.
Binance Futures continues to enhance its trading experience by providing users with fee discounts and promotional offers through the Taker Program. These updates aim to incentivize traders and provide them with a competitive advantage in the cryptocurrency futures market.
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