In this article we’ll breakdown all the fees that you pay when trading on BitMEX.
The fee varies depending on the asset type you’re trading.
The BitMEX fee for Bitcoin is a 0.075% taker fee and a -0.025% maker fee.
For assets such as Bitcoin Cash (BCH), Cardano (ADA), EOS Token (EOS), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and Tron (TRX) you will pay a -0.05% maker fee and a 0.25% taker fee.
What is the Maker Fee?
The Maker fee is the fee of creating an order on the order book and someone else completing it.
For example if you put a limit order for 1 BTC at $6000, you would be the “maker”. The person that completes this order will be the taker.
In BitMEX’s case they will pay you to be the market maker, so you will earn 0.025% of the position size.
What is the Taker Fee?
The Taker fee is paid by the person completing the trade.
If you see an order available in the orderbook for 1 BTC for sale at $6000 and you market buy into that order and therefore completing it, you will be paying the taker fee of 0.075% for Bitcoin.
The Taker fee becomes quite high for altcoins, so it is much smarter to place limit orders on those assets, otherwise you will be paying high fees of 0.25%.
For depositing and withdrawing, BitMEX does not charge fees for either, however they do have to pay the Bitcoin network fees to complete withdrawal transactions, so you will have to pay the daily going rate for withdrawing your Bitcoin, but users should thank Arthur for not charging you a fee on this, as many exchanges do.
When trading perpetual contracts on BitMEX you will pay a funding fee or you will earn a funding fee. Funding varies depending on how the BitMEX price is correlated to the index price and is paid every 8 hours.
If you have a long position and funding is negative, you will be paid for having your position open.
If you have a long position and funding is positive, you will be paying the shorts.
If you have a short position and funding is positive you will be paid for your position.
If you have a short position and funding is negative, you will be paying the longs.
Iceberg orders or hidden orders as they’re more commonly known, will automatically pay the taker fee for the hidden amount executed. Once the order is completed and it becomes a normal order, they will be paid the maker fee.