Bybit has become one of the fastest-rising cryptocurrency exchanges in the world. After recently breaching the 50 million user mark, the exchange has become a fast and reliable platform to accommodate all types of crypto investors. Also, Bybit trading fees stand as one of the most competitive in the market, which is generally a big plus for those looking for a new exchange.
With that in mind – many new traders coming to the platform may question: “What are Bybit trading fees like, and is it worth trading on the platform?”
To answer this question, allow us to guide you through this (at first) complicated world of understanding the fee structure of an exchange.
Importance of Understanding Trading Fees
It is pretty clear that investors should understand what fees are and how they function in an exchange. After all, no one likes to put money on something and not know where that money is going – looking at you, IRS.
Fees allow an exchange to maintain its platform. In this case, Bybit Trading Fees allows the company to maintain its unique features like full-time customer support and be one of the most secure exchanges in the world, while also maintaining its pricing competitive in the market.
Overview of Bybit Trading Fees
Bybit has a different fee structure for different types of trading. For instance, Bybit options fees differ from Bybit Spot Trading Fees because each operation serves a unique purpose and has different requirements.
We are not covering what each type of operation is in depth. But if you’d like to learn more, here is a full guide to ByBit trading operations.
But to make it short, Bybit basically has 3 types of trading fees on the platform. Spot, Futures, and Options trading. Each type has its own unique fee structure to cater to the different trading operations.
Most fees differ between “taker” and “maker” contracts. To put it simply, a market taker is someone who trades at the current price, while market makers set their own prices by placing orders and waiting for someone to match those prices.
In general, maker fees are most of the time cheaper because market makers help introduce liquidity in the exchange, while market takers are taking liquidity from the market.
Bybit Spot Trading Fees
Spot trading is the most popular type of trading on the platform. “Spot” is an operation that is generally completed within a day – think of day-trading – and happens when investors accept current price and market conditions and trade on the “spot”, hence the name.
On Bybit, both Taker and Maker fees are 0.1% of the total operation – a price within industry standards and competitive with other major exchanges.
Bybit Perpetual & Futures Contracts Fees
Perpetual contracts are investments made with no set expiration date. It is used by long traders and those looking to HODL their favorite asset. Meanwhile, in Futures contracts, there is a specific date to buy or sell, at a specific predetermined price.
Bybit’s fees for perpetual and futures contracts are competitive, with a taker fee of 0.06% and a maker fee of 0.01%.
Bybit Options Fees
Options are one of the most speculative types of investments, and they allow you to buy or sell at a specific date. Differently from Perpetual and Futures, Options give you the flexibility to not execute the trade. Although it is more time-sensitive and requires closer attention, it is considered a safer approach by risk-management experts.
On Bybit, both makers and takers pay a 0.03% fee on options trading.
Deposit and Withdrawal Fees
Bybit will not charge you anything when depositing assets into the platform. When withdrawing, however, the exchange charges a dynamic fee that changes according to the platform’s network status. For instance, in times of high network congestion and activity, withdrawal fees may be higher than regular.
ByBit VIP Fees
The exchange has a unique VIP system that rewards high-volume traders with exclusive discounts.
VIP levels start at “VIP0” with standard fees previously mentioned in this article. As investors start to increase their trading volume, they will eventually classify for higher VIP levels, earning more discounts on fees and other additional perks.
The “standard” VIP0 level is for traders who move around $50,000 in a 30-day period. In order to be eligible for VIP1, the volume would have to increase to $1,000,000 per month. VIP1 traders see a significant decrease in fees, and these costs continue to decrease as investors climb through the VIP levels.
Leverage Trading Fees
Leverage trading is one of the most attractive investment options available due to the potential for high returns in a short period. This format has a unique fee structure that traders need to be aware of.
- Trading Fee: Leveraged tokens on the Spot market are charged a standard 0.1% fee.
- Subscription Fee: If you subscribe to Leveraged Tokens, there’s a fee of 0.05% of the amount you subscribe to, multiplied by the subscription price.
- Redemption Fee: Redeeming Leveraged Tokens costs a fee of 0.05% of the amount you redeem, multiplied by the redemption price.
- Daily Management Fee: 0.005% of the investment is charged daily from leveraged positions.
- Funding Fee: The funding fee depends on the funding rate of the asset that supports the Leveraged Token, and it’s included in the token’s overall value.
Zero Fees Campaigns
Bybit offers several unique campaigns where it cuts fee rates by as high as 100% on specific pairs on the platform.
In 2024 the exchange offered several special deals with cut fees for investors. For example, in August, clients buying crypto with Apple Pay as the platform’s payment option would not waste a single penny on fees.
On top of bringing clients and the company together – these types of deals can be great for those looking to cut fee costs while enjoying all the benefits ByBit has to offer.
How to Make the Most of Bybit Trading Fees – a Recap
To make the most of your trading strategy on Bybit, there are several things you can do to minimize costs. Taking advantage of Bybit’s Zero Fees Campaigns is a great first step, as those allow you to join the platform and trade specific pairs without spending anything on fees.
If you have the means – you can also look to climb the VIP ladder and enjoy higher discounts on fees. Also, focusing on “Maker Orders” is generally a smart approach, given that it is often a less costly option when compared to taker orders.
You can also track the platform’s network congestion when withdrawing funds. Given the dynamic fee structure of withdrawals, you’d benefit from scheduling withdrawals during off-peak times.
By staying informed and strategically planning your trades, you can leverage Bybit’s competitive fee structure to your advantage, ensuring a more profitable trading experience.
