Updated
Your actual fee after a referral rebate is the published fee rate × (1 − the exchange’s automatic rebate rate). A higher rebate rate doesn’t always mean lower fees. Exchanges start from different fee rates, so an exchange with a 60% rebate can still cost more after the rebate than one with 45%.
This article puts each exchange’s published fees next to its automatic rebate and works out the rate you actually pay after the rebate. At VIP 0, the official futures taker fee runs from 0.02% at MEXC to 0.08% at WEEX, and the spot taker fee from 0% at Ourbit to 0.2% at XT and HTX. The starting points differ several times over, so rebate rates only mean something when you compare them on top of that base.
The rebate rates in the two tables below sync with the exchanges every day, and the ranking updates automatically. The second half covers how platform-token discounts, VIP tiers, maker orders and vouchers change this rate, and gives a formula for how much rebate one exchange needs to catch up with another, so you can plug in your own volume.
Key points: the fee after the rebate equals the published fee rate × (1 − automatic rebate rate), and the rebate is calculated on the fees you actually pay, not on your trading volume. At VIP 0, the lowest official futures taker fee is MEXC’s 0.02% and the highest is WEEX’s 0.08%; for spot, Ourbit charges 0% and XT and HTX charge 0.2%. For an exchange with an official rate fA to match another exchange’s after-rebate rate n, its rebate must be at least 1 − n ÷ fA: an exchange at 0.08% needs a 37.5% rebate to match 0.05%. Platform-token discounts and rebates multiply: MEXC states that rebates are calculated on the net fee after discounts, so with the MX deduction on, your actual cost is the original fee × 0.8 × (1 − rebate rate). Maker trades at 0%, zero-fee pairs and fees covered by vouchers earn no rebate, and rebates also stop being calculated once a Binance invitee reaches VIP 3 or above, or at OKX VIP 7 and above.
The information below was checked against official pages on 2026-10-14 (fact-check date), for reference.
How do you calculate the fee after a referral rebate?
Fee after the rebate = published fee rate × (1 − automatic rebate rate)
For example, a 0.06% official futures taker fee with a 60% automatic rebate works out to 0.06% × 0.4 = 0.024%. Rebates are calculated on the fees you actually pay, not on your trading volume, so this rate can be compared directly across exchanges.
It is easier to see in money terms. Futures fees are charged on the position’s notional value, once when you open and once when you close: on a position with a notional value of 10,000 USDT and a 0.05% taker fee, opening costs 5 USDT and closing costs 5 USDT, 10 USDT for the round trip. With a rebate rate of r, you actually pay 10 × (1 − r) USDT. For how notional value, leverage and fees relate, see how futures fees are calculated.
If not all of your trades are taker trades, work out a blended rate first and then multiply it by (1 − r): blended rate = maker share × maker fee + taker share × taker fee. With a 0.02% maker fee and a 0.05% taker fee, 80% maker and 20% taker gives 0.8 × 0.02% + 0.2 × 0.05% = 0.026%. Trades with a 0% maker fee (such as MEXC maker orders) carry no fee and therefore no rebate; the rebate only comes from the part you are charged for. For the difference between maker and taker orders, see Maker vs Taker fees.
Which exchange has the lowest futures fee after the rebate?
The table below covers USDT-margined perpetual futures, ranked by taker fee after the rebate from lowest to highest. Click an exchange’s name to see its referral code article, or click the official fee to open the exchange’s fee page.
| Exchange | Standard futures taker fee | auto fee rebate | After the rebate |
|---|---|---|---|
| Bitfinex | 0% | — | 0% |
| MEXC | 0.02% | 20% | 0.016% |
| Ourbit | 0.04% | 50% | 0.02% |
| KuCoin | 0.06% | 60% | 0.024% |
| XT.COM | 0.06% | 60% | 0.024% |
| BingX | 0.05% | 45% | 0.0275% |
| WEEX | 0.08% | 60% | 0.032% |
| Binance | 0.05% | 20% | 0.04% |
| OKX | 0.05% | 20% | 0.04% |
| Gate | 0.05% | 20% | 0.04% |
| HTX | 0.06% | 30% | 0.042% |
| Pionex | 0.05% | 15% | 0.0425% |
| Bitget | 0.06% | 20% | 0.048% |
Fees are each exchange's published VIP 0 taker rates; after the rebate = fee × (1 − automatic rebate). Rebate rates synced 2026-10-24. Actual fees vary by VIP level, pair and product; your exchange statement prevails.
Looking only at official VIP 0 rates, futures taker fees fall into six levels: MEXC 0.02%; Ourbit 0.04%; Binance, OKX, Gate, BingX and Pionex 0.05%; Bybit 0.055%; Bitget, KuCoin, HTX and XT 0.06%; WEEX 0.08%. At 1,000,000 USDT of futures volume a month, all as taker, the fees before the rebate are 200, 400, 500, 550, 600 and 800 USDT respectively. The ranking only changes when a rebate is large enough to offset that gap in starting points.
Bybit is not in the table above. Its VIP 0 perpetual futures fees are 0.02% maker and 0.055% taker (Bybit trading fee structure), and signing up with a referral code gets you no rebate from the exchange. To get part of your Bybit fees back, you can use Fee Otter. This extra rebate is paid by Fee Otter, not the exchange, and not Kevin Wu; the rate is whatever Fee Otter’s page shows at the time, and the steps are in Bybit fee rebate (Fee Otter).
Futures also have two regional differences. Ourbit’s fee notice for Taiwan VIP users lists a 0.05% futures taker fee for Taiwan VIP 0, so Taiwan accounts should go by the rate shown after logging in. The HTX user agreement lists Taiwan among the regions where derivatives trading is prohibited. Futures use leverage, and if the price moves against you, your position may be liquidated; fees are only part of the cost.
Which exchange has the lowest spot fee after the rebate?
| Exchange | Standard spot taker fee | auto fee rebate | After the rebate |
|---|---|---|---|
| Bitfinex | 0% | — | 0% |
| Ourbit | 0% | — | 0% |
| MEXC | 0.05% | 20% | 0.04% |
| KuCoin | 0.1% | 60% | 0.04% |
| Pionex | 0.05% | 15% | 0.0425% |
| BingX | 0.1% | 45% | 0.055% |
| WEEX | 0.1% | 35% | 0.065% |
| Binance | 0.1% | 20% | 0.08% |
| OKX | 0.1% | 20% | 0.08% |
| Gate | 0.1% | 20% | 0.08% |
| Bitget | 0.1% | 20% | 0.08% |
| XT.COM | 0.2% | 35% | 0.13% |
| HTX | 0.2% | 30% | 0.14% |
Fees are each exchange's published VIP 0 taker rates; after the rebate = fee × (1 − automatic rebate). Rebate rates synced 2026-10-24. Actual fees vary by VIP level, pair and product; your exchange statement prevails.
The rebate rates in both tables sync with the exchanges every day, and the ranking updates with them. Click an exchange’s name to see its referral code article.
Official VIP 0 spot taker fees: Ourbit 0%; MEXC and Pionex 0.05%; OKX, Binance, Bitget, Gate, BingX, KuCoin, WEEX and Bybit 0.1%; XT and HTX 0.2%. At 100,000 USDT of spot volume a month, the fees before the rebate come in four amounts: 0, 50, 100 and 200 USDT. Since 2024-09-03, Ourbit’s spot maker and taker fees have both been 0% (Ourbit fee announcement), so its spot trading has no fee to begin with and no spot rebate. The rate in Pionex’s row is what this site calls a fee discount; it is calculated the same way.
Spot runs into “same exchange, different pairs, different rates” more often than futures. KuCoin’s 0.1% applies to Class A coins; Class B is 0.2% and Class C 0.3% (KuCoin VIP fee structure). Since 2026-09-22, XT has charged zero fees on USDT/USDC pairs (XT zero-fee announcement). Pairs with higher fees still cost more than the table shows after the rebate; zero-fee pairs have no fee to refund, so they earn no rebate either. Each exchange’s exceptions are listed in lowest-fee crypto exchanges.
Why doesn’t a higher rebate rate always mean a lower fee?
Using data from 2026-10-08: WEEX’s futures rebate is 60% and BingX’s is 45%, but WEEX’s official futures taker fee is 0.08% against BingX’s 0.05%. After the rebate, WEEX costs 0.032% and BingX 0.0275%, so BingX, with the lower rebate, ends up cheaper.
Spot works the same way. XT.COM’s spot rebate is 35%, but its official spot fee is 0.2%, which leaves 0.13% after the rebate. That is more than Bitget (0.08%), whose rebate is 20% on a 0.1% fee.
The two examples above use that day’s rates, which may change later; the two tables above show the current figures. You can also work backward: for an exchange with an official rate fA to match another exchange’s after-rebate rate n, it needs a rebate of 1 − n ÷ fA. With that day’s numbers, for WEEX to match BingX’s 0.0275%, it would need a rebate of 1 − 0.0275 ÷ 0.08 ≈ 65.6%, 5.6 percentage points more than that day’s 60%.
The table below sets the official futures taker fees against three common after-rebate rates and works out how much rebate each one needs to catch up. 0.02% is exactly MEXC’s official taker fee with no rebate, and 0.03% and 0.04% are common after-rebate levels:
| Official VIP 0 futures taker fee | Exchanges at this rate | Rebate needed to match 0.02% | Rebate needed to match 0.03% | Rebate needed to match 0.04% |
|---|---|---|---|---|
| 0.04% | Ourbit | 50% | 25% | Not needed |
| 0.05% | Binance, OKX, Gate, BingX, Pionex | 60% | 40% | 20% |
| 0.055% | Bybit | About 63.6% | About 45.5% | About 27.3% |
| 0.06% | Bitget, KuCoin, HTX, XT | About 66.7% | 50% | About 33.3% |
| 0.08% | WEEX | 75% | 62.5% | 50% |
The formula is always 1 − target rate ÷ official rate; for example, 1 − 0.03 ÷ 0.06 = 50%. The percentages in the table are break-even thresholds, not any exchange’s actual rebate rate. The same applies to spot: an exchange at an official 0.2% needs a 50% rebate to match an exchange at 0.1% with no rebate, and 75% to match 0.05%.
How much do fees after the rebate differ at your monthly volume?
A fee difference of 0.01 percentage points looks small, but in money terms it is clear: at 1,000,000 USDT of volume a month, 0.01 percentage points comes to 100 USDT a month, or 1,200 USDT a year. The table below shows the fees before the rebate at each official rate, for 1,000,000 USDT of futures a month, all as taker; multiply by (1 − rebate rate) to get the amount after the rebate:
| Official VIP 0 futures taker fee | Monthly fees (before the rebate) | Annual fees (before the rebate) | Monthly amount after the rebate |
|---|---|---|---|
| 0.02% | 200 USDT | 2,400 USDT | 200 × (1 − r) |
| 0.04% | 400 USDT | 4,800 USDT | 400 × (1 − r) |
| 0.05% | 500 USDT | 6,000 USDT | 500 × (1 − r) |
| 0.055% | 550 USDT | 6,600 USDT | 550 × (1 − r) |
| 0.06% | 600 USDT | 7,200 USDT | 600 × (1 − r) |
| 0.08% | 800 USDT | 9,600 USDT | 800 × (1 − r) |
To compare WEEX and BingX from the example above, the two calculators below use the rates currently synced for this site’s referral codes, and their figures update with the rebate rates:
WEEX: official futures taker fee 0.08%; the exchange’s current automatic rebate is Futures 60%, Spot 35%.
| Monthly volume | Fees (0.08%) | Auto rebate (60%) | Net fees |
|---|---|---|---|
| 100,000 USDT | 80 USDT | 48 USDT | 32 USDT |
| 1,000,000 USDT | 800 USDT | 480 USDT | 320 USDT |
Example at a futures fee rate of 0.08% and the current 60% automatic rebate (rate updated 2026-10-24). Your exchange statement prevails.
BingX: official futures taker fee 0.05%; the exchange’s current automatic rebate is 45%.
| Monthly volume | Fees (0.05%) | Auto rebate (45%) | Net fees |
|---|---|---|---|
| 100,000 USDT | 50 USDT | 22.5 USDT | 27.5 USDT |
| 1,000,000 USDT | 500 USDT | 225 USDT | 275 USDT |
Example at a futures fee rate of 0.05% and the current 45% automatic rebate (rate updated 2026-10-24). Your exchange statement prevails.
To factor in margin, leverage and how many times you open and close positions each month, use the perpetual futures cost calculator to get your monthly fees, then multiply by (1 − rebate rate).
How do platform-token discounts, VIP tiers and rebates combine?
The exchanges that state a basis of calculation all say the same thing: the rebate is based on the fees you actually pay. Discounts are applied first, and the rebate is then paid on the discounted amount, so stacked discounts multiply. With an official fee of 0.1%, a 20% platform-token discount and a 20% rebate, the actual rate is 0.1% × 0.8 × 0.8 = 0.064%, a total saving of 36%, not 40%. The 20% figures here are only an example.
The table below lists the official VIP 0 fees at 13 exchanges, what the rebate is calculated on, and which trades earn no rebate or when the rebate stops, based on each exchange’s official pages:
| Exchange | Futures maker / taker | Spot maker / taker | Rebate calculated on | No rebate, or rebate stops | Official source |
|---|---|---|---|---|---|
| Binance | 0.02% / 0.05% | 0.1% / 0.1% | Net fees (after market-maker rebates); not officially stated whether this is before or after the BNB discount | Zero-fee trades; invitees at VIP 3 or above; futures limited to 12 months from opening the futures account (no limit if the referrer’s futures commission is 30% or more) | Referral Pro FAQ |
| OKX | 0.02% / 0.05% | 0.08% / 0.1% | Net fees | Fee-free assets; trades using rebate cards, futures trial funds or vouchers; special fee rates; monthly cap at VIP 5 and VIP 6; VIP 7 and above | OKX affiliate program rules |
| Bybit | 0.02% / 0.055% | 0.1% / 0.1% | No invitee rebate from the exchange; affiliate commission base = fees − market-maker rebates − bonuses/vouchers | Extra rebates from a rebate site follow that rebate site’s rules | Bybit Affiliate Program FAQ |
| Bitget | 0.02% / 0.06% | 0.1% / 0.1% | Net fees (fees minus deductions) | Zero-fee trades; trades using rebate cards (paid out through the rebate card instead); special fee rates | Bitget promotion policy |
| MEXC | 0% / 0.02% | 0% / 0.05% | Net fees = fees − bonuses − discounts | Fees covered by futures trial funds; API trades; abnormal trades | MEXC referral rules |
| Gate | 0.02% / 0.05% | 0.1% / 0.1% | Not officially stated (nor whether it is before or after the GT deduction) | Fiat trades; VIP 11 and above | Gate referral rules |
| BingX | 0.02% / 0.05% | 0.1% / 0.1% | Fees actually paid after discounts | Fees refunded by rebate vouchers; trades with futures trial funds; zero-fee pairs | BingX rebate rate announcement |
| KuCoin | 0.02% / 0.06% | 0.1% / 0.1% (Class A) | Fees actually paid | API trades; zero-fee trades; invitees at VIP 3 or above | KuCoin referral program |
| HTX | 0.02% / 0.06% | 0.2% / 0.2% | Net fees (after rebate vouchers, trial funds, 0% rates and negative rates) | Market makers; Prime 9 and above | HTX invite-to-trade reward rules |
| XT | 0.02% / 0.06% | 0.2% / 0.2% | Effective fees actually paid; the part covered by deduction credits does not count | Deduction credits, sub-accounts and coins excluded by announcement; trades opened and closed within 60 seconds | XT risk control rules |
| WEEX | 0.02% / 0.08% | 0.1% / 0.1% | Fees actually paid, minus discounts and trial funds | Fees covered by trial funds or deduction credits; abnormal trading such as rapid opening and closing within 5 minutes or self-trading, deducted depending on the case | WEEX abnormal trading policy |
| Pionex | 0.02% / 0.05% | 0.05% / 0.05% | Not officially stated | Stock-token spot and MEME | Pionex affiliate program v3 |
| Ourbit | 0.02% / 0.04% | 0% / 0% | Fees actually paid, minus the part covered by trial funds and vouchers | No spot rebate because spot is fee-free; margin trading; fees covered by trial funds | Ourbit invite page rules |
The fee columns show the standard official VIP 0 rates; in the two ranking tables above, each rate links to that exchange’s fee page.
The rebate after a platform-token discount
MEXC states it most clearly: referral commission is calculated on net fees, which exclude bonuses and other discounts (MEXC referral rules), and the MX deduction gives 20% off (MEXC MX discount announcement). A 0.05% spot taker fee becomes 0.04% with the MX deduction on, and 0.04% × (1 − r) after the rebate. HTX’s rules are also based on the net fees actually paid; paying fees with HTX or TRX gives 25% off spot and 5% off futures (HTX TRX deduction announcement), so spot can be estimated as 0.2% × 0.75 × (1 − r) = 0.15% × (1 − r).
Binance’s BNB discount is 25% off spot and 10% off futures (Binance BNB fee discount), but Binance does not state whether the rebate is calculated on fees before or after the BNB discount; Gate doesn’t say for its GT deduction either. If you turn on the platform-token discount at these two exchanges, go by your account’s rebate records for how much is actually refunded. Platform tokens have to be bought and held first, and their price swings are part of the cost too.
After you reach VIP
VIP rates are lower, so net fees shrink and the rebate amount shrinks with them; at certain tiers, some exchanges stop calculating it altogether. Binance states that spot and margin commissions stop once the invitee reaches VIP 3 or above, and that futures commissions are generated only by invitees who are regular users or at VIP 1–2 (Binance Referral Pro FAQ). When you are close to a threshold, compare the VIP rate after the upgrade with “VIP 0 rate × (1 − rebate rate)” and go with whichever is lower. Each exchange’s thresholds are listed in does your referral rebate survive a VIP upgrade.
Vouchers and trial funds
OKX, MEXC, BingX, HTX, XT, WEEX and Ourbit all state that fees covered by vouchers or trial funds earn no rebate. A voucher that covers V saves you only V × (1 − r) extra, because you lose the rebate you would have earned on that portion. Each exchange’s voucher types and stacking rules are in fee vouchers vs referral code rebates.
What costs do these two tables leave out?
- The fees are each exchange’s published VIP 0 taker rates. Higher VIP levels, maker orders and platform-token discounts lower the actual rate.
- Some exchanges charge different rates on different pairs; the tables use the standard rate.
- Rebates are calculated on the fees actually paid after discounts. The details depend on each exchange’s rules, which are explained in its guide on this site.
- Fees are only one cost of using an exchange. This article does not compare the exchanges’ services or security.
- Funding rates and withdrawal fees are not trading fees and earn no rebate.
- Short-term trades may not earn a rebate: XT cancels the rebate on any trade opened and closed within 60 seconds (XT risk control rules), and WEEX deducts rebates for rapid opening and closing within 5 minutes, self-trading and similar behavior, depending on the case. Each exchange’s rules for cancelling or withholding rebates are in rebate cancellation rules.
FAQ
How do you calculate the fee after a referral rebate?
Multiply the official fee rate by (1 − automatic rebate rate). For example, a 0.06% official futures taker fee with a 60% rebate comes to 0.06% × 0.4 = 0.024%. The rebate is a refund on the fees you actually pay, not on your trading volume, so the resulting rate can be compared directly with other exchanges.
Does a higher rebate rate mean lower fees?
Not necessarily; check the official fee first. In the 2026-10-08 data, WEEX had a 60% futures rebate on a 0.08% official taker fee, leaving 0.032%; BingX had a 45% rebate on 0.05%, leaving 0.0275%, so BingX, with the lower rate, was cheaper. An exchange at an official 0.08% needs a 75% rebate to catch up with 0.02% with no rebate.
Do maker orders get a rebate too?
Maker orders that are charged a fee earn a rebate; maker orders at 0% do not. OKX states that both maker and taker trades count. Most exchanges charge 0.02% for futures makers, which comes to 0.02% × (1 − r) after the rebate. MEXC’s futures and spot maker fees and Ourbit’s spot fees are 0%, so those trades have no fee and therefore no rebate.
Can you use a platform-token discount and a referral rebate together?
You can turn both on, but the two discounts multiply rather than add. MEXC states that the rebate is calculated on the net fee after discounts, so your actual cost is the original fee × 0.8 × (1 − rebate rate); HTX also calculates on the net fees actually paid. Binance and Gate do not state whether the rebate is based on fees before or after the discount, so go by your account records.
Do you still get a rebate after reaching VIP?
At most exchanges, yes, but on a smaller base; some exchanges stop at higher tiers. Binance stops once the invitee reaches VIP 3 or above, KuCoin pays no commission for invitees at VIP 3 or above, OKX stops at VIP 7 and above, HTX at Prime 9 and above, and Gate at VIP 11 and above.
What is the Bybit fee after the rebate?
Signing up for Bybit with a referral code gets you no automatic rebate from the exchange, so the official VIP 0 rates are what you pay: 0.02% maker and 0.055% taker for futures, and 0.1% for spot. You can get part of it back through Fee Otter. This rebate is paid by Fee Otter, not the exchange, and not Kevin Wu, and the rate is whatever Fee Otter’s page shows at the time.
How often are the rebate rates in the tables updated?
They sync with the exchanges once a day, and the ranking updates automatically; the latest sync date is shown below the table. Changes to the rates are logged and can be viewed in each exchange’s referral code article.
Why is the fee I actually pay different from the table?
The most common reason is that your fee rate itself is different: your VIP tier, maker share, a platform-token discount, a pair’s special rate, or a regional rate (for example, Ourbit’s Taiwan VIP 0 futures taker fee is 0.05%). If the rebate rate doesn’t match, first check that your referral code is bound and whether that trade is excluded from rebates, then go through the checks in what to do if your referral rebate hasn’t arrived.
The exchanges’ current pages prevail on all fees and rates. Data sources are explained in how the rebate data is compiled, and each exchange’s rate is on the exchange referral code overview. For who actually receives the rate a referral code advertises, see referrer commission vs. invitee rebate; for a ranking based only on official fees, maker fees and VIP tiers, see lowest-fee crypto exchanges.