How to calculate the VIP rate of Binance contract? What is the trading volume requirement?

Understanding how to calculate the VIP rate on Binance for futures trading and knowing the trading volume requirements are crucial for users aiming to maximize their trading benefits. Binance offers a tiered VIP system that provides various fee discounts and other privileges based on a user's trading volume over a 30-day period. This article will guide you through the process of calculating your VIP rate and detail the trading volume requirements for each level.

Understanding the Binance VIP Levels

Binance's VIP program is designed to reward high-volume traders with reduced trading fees and other benefits. The program is divided into several levels, ranging from VIP 0 to VIP 9. Each level has specific trading volume thresholds that must be met to qualify.

The key to advancing through the VIP levels is understanding that the trading volume is calculated based on the total value of the trades executed over the past 30 days.

Calculating Your Trading Volume

To calculate your trading volume on Binance for futures contracts, follow these steps:

• Log into your Binance account and navigate to the futures trading section.
• Click on your profile icon at the top right corner and select 'Futures' from the dropdown menu.
• Go to the 'Overview' tab where you will see your total trading volume for the past 30 days displayed under the '30-day Volume' section.

This volume includes both your trading activity in USDⓈ-M Futures and COIN-M Futures. It's important to note that only the notional value of the trades is considered, which means the value of the contract at the time of the trade, not the profit or loss from the trade.

VIP Level Requirements

Each VIP level on Binance has a specific trading volume requirement that must be met over a 30-day period. Here are the requirements for each level:

• VIP 0: No minimum trading volume required.
• VIP 1: A minimum of $1,000,000 in trading volume.
• VIP 2: A minimum of $10,000,000 in trading volume.
• VIP 3: A minimum of $50,000,000 in trading volume.
• VIP 4: A minimum of $100,000,000 in trading volume.
• VIP 5: A minimum of $200,000,000 in trading volume.
• VIP 6: A minimum of $500,000,000 in trading volume.
• VIP 7: A minimum of $1,000,000,000 in trading volume.
• VIP 8: A minimum of $2,000,000,000 in trading volume.
• VIP 9: A minimum of $5,000,000,000 in trading volume.

Calculating Your VIP Rate

Your VIP rate on Binance is determined by the trading volume you achieve over the past 30 days. To calculate your VIP rate:

• Determine your total trading volume over the past 30 days as described in the previous section.
• Compare this volume to the thresholds listed above to find your current VIP level.
• Check the fee schedule on the Binance website to see the maker and taker fees associated with your VIP level.

For example, if your 30-day trading volume is $250,000,000, you would qualify for VIP 5. According to the Binance fee schedule, a VIP 5 user would enjoy a maker fee of 0.015% and a taker fee of 0.040%.

Benefits of Higher VIP Levels

Advancing to higher VIP levels on Binance not only reduces your trading fees but also provides additional benefits such as:

• Lower withdrawal fees
• Dedicated account managers
• Priority customer support
• Exclusive events and promotions

These benefits can significantly enhance your trading experience and potentially increase your profitability.

Monitoring Your VIP Status

To ensure you maintain or advance your VIP status, it's important to regularly monitor your trading volume. Here's how you can do it:

• Regularly check your 30-day trading volume on the Binance platform as described earlier.
• Set reminders or use trading bots to keep track of your volume and ensure you meet the necessary thresholds.
• Adjust your trading strategy if needed to meet higher volume requirements for better VIP levels.

By staying vigilant and proactive, you can maximize the benefits of Binance's VIP program.

Frequently Asked Questions

Q1: Does the trading volume for spot trading count towards the VIP level on futures trading?

A1: No, the trading volume for spot trading does not count towards the VIP level for futures trading. The VIP level for futures trading is calculated based solely on the trading volume of futures contracts.

Q2: Can I combine trading volumes from multiple accounts to reach a higher VIP level?

A2: No, Binance calculates the VIP level based on the trading volume of a single account. You cannot combine volumes from multiple accounts to achieve a higher VIP level.

Q3: How often does Binance update the VIP level?

A3: Binance updates the VIP level on a daily basis. However, the trading volume is calculated over a rolling 30-day period, so changes in your trading activity will be reflected in your VIP level accordingly.

Q4: Are there any other factors besides trading volume that affect the VIP level?

A4: No, the VIP level on Binance for futures trading is determined solely by the trading volume over the past 30 days. Other factors such as the type of assets traded or the frequency of trades do not influence the VIP level.