OKEx offers a volume-based maker-taker fee schedule. We calculate your trading volume every day and adjust your fees according to the chart below:
|Tier||Spot Trading||Futures Trading||24hr Withdrawal Limit (BTC)|
|30day Trading Volume (BTC)||Maker Fee||Taker Fee||30day Trading Volume (BTC)||Maker Fee||Taker Fee|
|Lv1||< 600||0.15%||0.2%||< 10000||0.03%||0.05%||100|
|Lv2||≥ 600||0.14%||0.19%||≥ 10000||0.025%||0.045%||150|
|Lv3||≥ 1200||0.13%||0.18%||≥ 20000||0.02%||0.04%||200|
|Lv4||≥ 2400||0.12%||0.17%||≥ 30000||0.015%||0.035%||250|
|Lv5||≥ 12000||0.11%||0.15%||≥ 60000||0.01%||0.03%||300|
|Lv6||≥ 24000||0.08%||0.11%||≥ 100000||0.005%||0.025%||400|
|Lv7||≥ 60000||0.05%||0.08%||≥ 200000||0%||0.02%||500|
|Lv8||≥ 120000||0.02%||0.05%||≥ 300000||-0.01%||0.02%||1000|
To be eligible for a tier, you are only required to meet the minimum trading volume requirements of either Futures or Spot. Example: Your Spot Trading volume in the last 30 days is 1,000 BTC (Rank2) and Futures trading volume is 2,1000 BTC (Rank3), you are then eligible as a Rank3 user and can enjoy the discounted fees of the tier for both Futures and Spot Trading.
- Spot Trading
- 30-day Spot Trading volume: Our system will record the transactions according to the prices (in quote currencies) at that time. Then every 24 hours at 00:00 UTC+8, it will calculate the total trading volume in BTC equivalent.
- Example: If you have traded OMG/BTC, XUC/BTC, BTC/USDT, LTC/ETH and BCH/USDT, our system will record the transactions in BTC, ETH, USDT according to the prices at that time. Then at 0:00 UTC+8, it will calculate the total trading volume of BTC, ETH and USDT in BTC equivalent.
- Futures Trading
- 30-day Futures Trading volume: Similarly, our system will record all positions opened or closed in USD equivalent, according to the prices at that time (contract face value). Then every 24 hours at 00:00 UTC+8, it will calculate the total trading volume in BTC equivalent, according to the avg. exchange rate of USD to BTC of the last 30 days.
- Example: Let’s say you traded BTC, ETH and EOS futures yesterday. Our system will record all the contracts in USD equivalent (contract face value). Then today at 00:00 UTC+8, it will calculate your total trading volume in BTC equivalent, according to the avg. exchange rate of USD to BTC of the last 30 days.
- Create order
- Maker orders are "passive" limit orders posted on the order book prior to the trade.
- Example: If the current market price is 1000USD and you created a 999USD maker order, the order will not be filled. Instead it will be posted on the order book, allowing others to take the order. Once the order is filled, maker will earn the maker fee and taker will pay the taker fee.
- Futures settlement fee is not affected by the users tier (0.015% for BTC, 0.05% for other tokens); No fee is charged for forced liquidation.
- 24hr Withdrawal Limit
- 24hr withdrawal limit: The limit of withdrawing all your digital assets in the account for the day in BTC equivalent. You may contact our customer service manager if you wish to increase the limit.
- Example: A tier 1 user has a withdrawal limit of 100 BTC equivalent, after withdrawing 50 BTC, 25 BTC worth of OMG and 15 BTC worth of XUC, the user will have a withdrawal limit balance of 10 BTC. Thus, withdrawing 20 BTC worth of XRP must wait until the next day, or he will have to contact customer service to request for increasing the limit.
- The 24hr withdrawal limit differs based on the users KYC (KYC 1 ≤2BTC, KYC 2 ≤100BTC).
- A guide to market making with master and sub accounts
- The master account’s tier is determined according to the total 30day trading volume of all master and sub accounts. Sub account’s tier will be the same as its master account’s.
Market maker program
Aside from tiered-volume fees discount, our market maker program specifically rewards traders who intend to provide consistent liquidity and competitive bid-ask spread.Once the market maker application is successful, it will be effective from 00:00 the next day. To become a market maker, you need your tier higher than Lv2 or your total spot account balance greater than 100BTC equivalent.
|Tier||Liquidity Index||Maker Fees Rebate %|
Note that as a Market Maker, your accounts liquidity index must meet the minimum requirement (Rank1) at all times. Otherwise, your account will be downgraded to standard account without fee reimbursement. A new application will be needed to become a Market Maker again.
- Measurement of Market Maker Performance
- Liquidity Multiplier
- The rationale of having a liquidity multiplier as a coefficient on computing the liquidity index is to reward the maker orders posted as near as the best bid/offer and thus put lesser weight on the resting market depth posted far from the top of the book. It’s a necessary component on measuring as well as incentivize market maker to provide quality liquidity that eventually resulting a better market structure.
- The computation of liquidity multiplier adopts the following principles:
- The multiplier is weighted scoring system on the order size placed on the book – the closer to the top of the book, the higher of the allocated weights.
- The multiplier would ONLY consider the resting orders posted 30% from the current best bid and offer price of the market.
- Formulae on liquidity multiplier = Quoted Amount * Last Trade Price * [1- abs(Quoted Price / Last Trade Price -1) * weighted parameter] * User’s Contribution Ratio * BTC Value to Base Currency.
- In this case, users’ quoting price would be adjusted by comparing the last trade price with a weighted parameter defined by our system. Hence, more distant from the top of the book, bigger discount applies on quoting price.
- The above outcome would be multiplied by the current contribution ratio, which is computed as a comparison on Users’ aggregated posted orders vs. Total aggregated posted orders in effective range. In that case, if you contribute a bigger liquidity to the order book of the particular token pair, you would have earned a better multiplier and hence enjoying more rebates. This is particular useful if you decide the make market for token which has lesser liquidity.
- Finally, we translate the outcomes in BTC value for the calculation of liquidity index.
- Liquidity Index
- Liquidity Index is a snapshotted value on a fixed-time interval recording your quoted liquidity on the book from 00:00 (UTC +8).
- Each token pairs would earn a unique liquidity index. In that case, if you make market for multiple pairs, you would likely to receive rebate at multiple rate according to the respective liquidity index of each pair. Be noted that there is a minimum value on liquidity index.
- Formula: Liquidity Index = Liquidity multiplier / User’s Best Bid-Ask Spread.
- User’s Best Bid-Ask Spread is a value of users’ posted bid-ask spread relative to last trade price.
- Sum all liquidity multiplier on a single-side and take the smaller value as the numerator.
- You have to maintain the obligation of being a market maker by providing consistent liquidity to the orderbook over 50% of time in order to be eligible for a rebate on maker fees.
- Additional Clarification
- The algorithm of liquidity multiplier and liquidity index shall be subjected to change over time according to the market situation.
- Market maker rebate is a reimbursement from the maker fee charged of your current eligible fee tiers. Therefore, if you are currently a Lv5 account in which are paying 0.11% as a maker, at the same time you are very active market maker on QTUM/BTC and achieved a Rank5 on liquidity index, you would only need pay 0.055% on all filled maker order on QTUM/BTC.
- Market maker performance report would be available on a daily basis which would illustrate the token pair(s) you had traded, liquidity index derived by your yesterday’s market making activities, as well as the rebated % and amounts.
Example: User A’s GAS/USDT market making summary,the latest price is 100
|Multiplier||Amount||Buy Price||Sell Price||Amount||Multiplier|
Liquidity multiplier is 28.6, bid-ask spread is 20%, hence liquidity index is 143.
- Market making with master and sub accounts
- Only master account can submit the market maker application. But sub accounts can also enjoy the privileges and contribute to the liquidity index. The total liquidity index is determined by adding up the scores of all accounts.