What fees are associated with BitTap futures trading?

2 min readDec 11, 2024

Trading Fees (Execution Fees)

Whenever you open or close a position in the futures market on BitTap, a fee is charged. The fees are divided into Maker Fees and Taker Fees:
Maker Fee: When your order is placed in the order book to wait for execution (e.g., limit orders), you provide liquidity to the market, and thus the fee is lower.
Taker Fee: When your order is immediately matched with an existing order in the market (e.g., market orders), you consume liquidity from the market, resulting in a higher fee.
Fee Calculation Formula:
For USDT-margined contracts:
Fee = Nominal Value × Fee Rate
Nominal Value = Contract Quantity × Trade Price
For Coin-margined contracts:
Fee = Nominal Value × Fee Rate
Nominal Value = (Contract Quantity × Contract Face Value) / Trade Price
Example:
If the nominal value of the trade is 10,000 USDT and the fee rate is 0.05%, the calculation would be:
Fee = 10,000 × 0.0005 = 5 USDT

The Funding Rate is a periodic payment between long and short positions designed to keep the price of perpetual contracts in line with the spot market price. The funding rate changes based on market conditions.
Settlement Time: Funding is settled every 8 hours, and only traders holding a position at the time of settlement will pay or receive the funding fee.
Funding Fee Calculation Formula:
For USDT-margined contracts:
Funding Fee = Nominal Value × Funding Rate
Nominal Value = Contract Quantity × Trade Price
For Coin-margined contracts:
Funding Fee = Nominal Value × Funding Rate
Nominal Value = (Contract Quantity × Contract Face Value) / Trade Price
Example:
If you hold 100 BTC short contracts at a trade price of 30,000 USDT and the funding rate is 0.01%, the calculation would be:
Funding Fee = 100 × 30,000 × 0.0001 = 300 USDT

Liquidation Fee is charged when your account margin falls below the maintenance margin requirement, triggering an automatic liquidation by BitTap. The fee is added to the platform’s insurance fund.
Liquidation Fee Calculation Formula:
For USDT-margined contracts:
Liquidation Fee = Nominal Value × Liquidation Fee Rate
Nominal Value = Contract Quantity × Trade Price
For Coin-margined contracts:
Liquidation Fee = Nominal Value × Liquidation Fee Rate
Nominal Value = (Contract Quantity × Contract Face Value) / Trade Price
Example:
If the nominal value of the contract is 50,000 USDT and the liquidation fee rate is 0.5%, the calculation would be:
Liquidation Fee = 50,000 × 0.005 = 250 USDT

These are the main types of fees that traders should be aware of when engaging in futures trading on the BitTap platform.

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