What are the BingX exchange transaction fees?

BingX Exchange's transaction fees vary depending on the trading type (spot or futures) and account's VIP tier, with makers generally receiving fee discounts.

Nov 25, 2024 at 08:45 pm

BingX Exchange Transaction Fees: A Comprehensive Guide

Introduction

BingX is a popular cryptocurrency exchange that offers a range of trading products and services to its users. As with any exchange, understanding the transaction fees associated with using BingX is crucial for optimizing your trading strategy and managing your expenses.

This article provides a comprehensive overview of the BingX exchange transaction fees, including:

• Standard Spot Trading Fees
• Futures Trading Fees
• VIP Tier Fee Discounts
• How to Calculate Trading Fees

1. Standard Spot Trading Fees

Standard spot trading fees on BingX vary depending on the trading pair and whether you are a maker or a taker. Here is a breakdown of the fees:

• Maker Fees: Makers add liquidity to the order book by placing limit orders that do not immediately execute. BingX charges a maker fee of 0.05% for most trading pairs.
• Taker Fees: Takers remove liquidity from the order book by executing existing orders. BingX charges a taker fee of 0.10% for most trading pairs, which is higher than the maker fee.

2. Futures Trading Fees

BingX offers perpetual futures contracts with a variety of underlying assets, such as BTC, ETH, and USDT. The futures trading fees are as follows:

• USDT-Margined Futures: The maker fee is 0.02% and the taker fee is 0.04%.
• Coin-Margined Futures: The maker fee is 0.01% and the taker fee is 0.02%.

3. VIP Tier Fee Discounts

BingX offers VIP tiers to its users based on their trading volume and account balance. Higher VIP tiers enjoy lower trading fees as follows:

VIP Tier	Spot Maker Fee	Spot Taker Fee	Futures Maker Fee	Futures Taker Fee
VIP 1	0.04%	0.09%	0.015%	0.03%
VIP 2	0.03%	0.08%	0.01%	0.02%
VIP 3	0.02%	0.07%	0.005%	0.01%
VIP 4	0.01%	0.06%	0.0025%	0.005%
VIP 5	0.005%	0.05%	0.001%	0.0025%

4. How to Calculate Trading Fees

Calculating your trading fees on BingX is straightforward. Here is the formula:

Trading Fee = (Trading Volume * Trading Fee Rate) - (VIP Tier Discount * Trading Volume * Trading Fee Rate)

For example, if you place a spot market order to buy 1 BTC with a trading fee rate of 0.10% and you are not a VIP member, the trading fee would be:

Trading Fee = (1 BTC * 0.10%) = 0.001 BTC

If you were a VIP 3 member with a VIP discount of 0.02%, the trading fee would be calculated as follows:

Trading Fee = ((1 BTC * 0.10%) - (0.02% * 1 BTC * 0.10%)) = 0.00098 BTC

Conclusion

Understanding the BingX exchange transaction fees is essential for managing your trading costs effectively. By leveraging the VIP tier system and taking advantage of maker rebates, you can minimize your fees and enhance your trading experience.