How to calculate ProBit Global contract transaction fees

Calculating contract transaction fees on ProBit Global involves determining the maker and taker fees based on the trader's VIP level and contract specifications, taking into account the contract size, leverage multiplier, and potential discounts for high-volume traders.

Nov 28, 2024 at 02:29 am

How to Calculate ProBit Global Contract Transaction Fees

ProBit Global, a renowned cryptocurrency exchange, provides users with a comprehensive suite of trading options, including futures contracts. Understanding the transaction fees associated with these contracts is crucial for traders to optimize their profitability. This comprehensive guide will delve into the intricacies of calculating ProBit Global contract transaction fees.

1. Types of Contract Fees on ProBit Global

ProBit Global levies two primary types of fees on contract trades: maker and taker fees.

• Maker Fees: These fees are charged when a trader's order adds liquidity to the market by creating a limit order that does not immediately execute.
• Taker Fees: Conversely, taker fees are incurred when a trader's order removes liquidity from the market by executing against an existing limit order.

1. Calculating Maker Fees on ProBit Global

Maker fees on ProBit Global are based on the VIP level of the trader and the specific contract being traded. The exchange offers nine VIP levels, with each level entitled to different fee discounts. The following steps outline the process of calculating maker fees:

• Determine Your VIP Level: Log in to your ProBit Global account and navigate to the "VIP Center" section. This section will display your current VIP level and the associated fee discounts.
• Identify the Contract's Maker Fee Schedule: Each contract on ProBit Global has a unique maker fee schedule. You can find the fee structure by visiting the specific contract page on the exchange's website.
• Apply the Fee Discount: Multiply the contract's maker fee by your VIP level discount. The result will be your effective maker fee rate.

1. Calculating Taker Fees on ProBit Global

Taker fees on ProBit Global are also influenced by the trader's VIP level and the contract being traded. The process of calculating taker fees involves the following steps:

• Determine Your VIP Level: As with maker fees, the VIP level determines the fee discount applied to taker fees.
• Identify the Contract's Taker Fee Schedule: Each contract on ProBit Global has a dedicated taker fee schedule. Visit the contract page on the exchange's website to find the applicable fee structure.
• Apply the Fee Discount: Multiply the contract's taker fee by your VIP level discount. This will provide you with the effective taker fee rate.

1. Additional Factors Influencing Contract Transaction Fees

• Contract Size: The size of the contract, represented by the underlying asset value, can impact the transaction fees. Larger contracts typically incur higher fees.
• Leverage Multiplier: The leverage multiplier you select for a trade can also affect the fees. Higher leverage multipliers usually result in increased fees.
• Trading Volume: ProBit Global may offer discounted fees for high-volume traders or traders who execute a substantial number of contracts.

1. Example Calculation of Contract Transaction Fees

Consider the following scenario:

• Trader's VIP level: VIP 6 (20% maker fee discount, 15% taker fee discount)
• Contract: BTC-USDT perpetual contract
• Position size: 100 contracts (underlying asset value: $1,000,000)
• Leverage multiplier: 20x

Maker Fee Calculation:

• Maker Fee Schedule: 0.02%
• VIP 6 Maker Fee Discount: 20%
• Effective Maker Fee Rate: 0.02% x (1 - 20%) = 0.016%
• Maker Fee: 0.016% x $1,000,000 = $16

Taker Fee Calculation:

• Taker Fee Schedule: 0.04%
• VIP 6 Taker Fee Discount: 15%
• Effective Taker Fee Rate: 0.04% x (1 - 15%) = 0.034%
• Taker Fee: 0.034% x $1,000,000 = $34