Binance Exchange Fees Explained and 2 Ways to Get a Discount (Futures and Spot)
3 min read · · Korean original
Contents 5
In this post, we'll go over Binance futures and spot trading fees, along with 2 ways to get up to a 45% discount on those fees.
Binance Basic Fees
Binance applies different fee rates depending on whether you're a regular user or which VIP tier you're in. For regular (non-VIP) users, Binance's basic fees are 0.02% for futures makers and 0.05% for takers. For spot, both makers and takers pay the same 0.1%.
- A maker is someone who places a limit order that gets fully or partially submitted to the order book. Because this helps "make" the market, it's called a maker.
- A taker is someone who places a market order that is filled immediately without being submitted to the order book. Because this "takes" liquidity from the market, it's called a taker.
2 Ways to Get a Binance Fee Discount
On Binance, you can get a fee discount in 2 ways. The first is to sign up with a fee discount referral when you register. The second is to pay your fees with Binance Coin (BNB).
By doing this, you can ultimately get up to a 45% fee discount on spot trading. For futures trading, you can get a discount of up to 20%.
Binance Futures Fees
Binance's futures trading fee structure is as follows. The basic futures trading fee is 0.02% for makers and 0.05% for takers. You can save even more on fees by moving up a VIP tier and paying your fees with BNB.
For reference, in futures trading, fees increase along with the leverage you use. For example, if you use 100x leverage, your fee is also calculated at 100x. The principle is that fees are calculated in proportion to the position you open.
Binance Spot Trading Fees
Binance's spot trading fees are as follows. The basic spot trading fee is 0.1% for makers and 0.1% for takers. Just like with futures trading, you can save on fees by moving up a VIP tier and paying your fees with BNB.
How to Move Up a VIP Tier on Binance
As we saw above, Binance applies a different fee structure depending on your VIP tier. So the higher your VIP tier, the more you can save on fees for the same trade. To move up a VIP level, you need to reach the minimum trading volume for that level and hold at least a certain amount of BNB.
For example, to become VIP 2 and get an additional 20% discount on spot, you need a monthly trading volume of 5,000,000 USD and must hold at least 100 BNB. If you meet these conditions, your VIP level is automatically updated at around 9 a.m. the next day. For the exact BNB balance calculation requirements, please refer to the daily BNB calculation mechanism.
That wraps up our look at Binance's spot and futures fees, along with how to get up to a 45% discount on them. If you found this post helpful, please give it a heart below. Thank you.
