Futures trading fees, maker and taker, and funding fees

BYNAI charges two kinds of cost on perpetual futures: a trading fee on each trade and a funding fee while you hold a position. This article explains both and where to see them. The exact rates are loaded live from BYNAI's fee settings, so this article does not list percentages; look them up on the pages named below.

Where to see the current rates

• The public Fees page (title "Fee schedule", intro: "What you pay to trade, hold positions and move funds on BYNAI. Rates below load from the live fee configuration.").
• The VIP Program page, section Fee Structure (see VIP program and fee tiers).
• The futures order form: the Fee line is "Estimated trading fee. Depends on your fee tier and whether the order is maker or taker." A small Fee level control opens a box with Your Fee Level, your tier name (or Regular User) and your Taker and Maker rates.

Trading fees: maker and taker

"Every trade is charged a maker or taker fee. A maker order adds liquidity to the order book; a taker order fills against an existing order. Your rate depends on your VIP tier, which is set by your 30-day trading volume."

In simple terms:

• Maker: your order waited in the order book and someone else matched it (typical for a limit order that did not fill right away).
• Taker: your order matched an existing order immediately (typical for market orders, and for limit orders that fill at once).
• A Post Only order is "placed as a maker order only. If it would match immediately, it is cancelled."
• One order can produce both maker and taker trades if it fills in parts.

The fee for each order is shown on the order form before you place it: "The fee for each order is shown on the order form before you place it."

After the trade, see the Fee and Role (Maker or Taker) of every fill in the Trade History tab, and the Commission entries in Transaction History (see Order and trade history and Transaction history).

A fee applies to each trade, so opening, closing and a Reverse each pay it (the Reverse window says "trading fees apply").

Fee Saver

If you have a Fee Saver balance, the order form shows a Fee Saver label next to the fee: "Estimated rebate from your Fee Saver balance, applied automatically after the fill (max $5/day)." See My Vouchers and What are vouchers. A voucher does not pay your fees: "Profit is yours, and fees are paid by you."

Lower fees with a higher VIP tier

Your tier goes up as your 30-day trading volume grows. The Fee Structure table shows the volume needed for each tier. See the VIP article for how to check your tier and progress.

Funding fees

Perpetual contracts have no expiry. To keep the contract price close to the market (index) price, long and short holders pay each other. The Fees page says: "At each funding time, holders on one side of the market pay holders on the other side, based on the current funding rate and position size."

• Funding rate: "Periodic payment exchanged between long and short traders to keep the perpetual contract price aligned with the spot index price. Positive rate = longs pay shorts. Negative rate = shorts pay longs."
• When: the funding page states "Funding payments occur every 8 hours." The trading page shows Funding / Countdown in the ticker bar, with a countdown to the next funding time.
• Click the funding rate in the ticker bar to see Current Rate, Previous Rate and their Annualized values, a countdown, and the link View Funding Rate History. The text reads: "The payment rate exchanged between long and short positions for the next funding. Positive = longs pay shorts. Negative = shorts pay longs." The direction can be shown as Long Pays Short or Short Pays Long.
• The funding fee you actually paid or received appears in Transaction History with the type Funding Fee. A positive amount is received, a negative amount is paid.
• You pay or receive funding only if you hold a position at the funding time.
• Funding is part of your realized PnL in Trade Analysis: "Funding fees are included in realized PnL."
• Risk note from the app: "Holding a perpetual position means paying or receiving funding at each funding time. Over long periods, funding payments can add up to a significant cost."

See Funding rate history and Mark, last and index price.

Deposit and withdrawal costs (not trading fees)

• Deposits: "When you deposit, the blockchain you send from charges its own network fee. Send only on a network the deposit page lists for that asset."
• Withdrawals: "Withdrawal fees depend on the asset and network. The exact fee and the amount you will receive are shown in the withdrawal form before you confirm." Go to withdrawal.

Other charges you may see in Transaction History

Liquidation Fee and Insurance Clear entries relate to liquidations (see Margin and liquidation). Commission Rebate, API Rebate and Referral entries are credits.

FAQ

Why was I charged a taker fee on a limit order? A limit order that matches immediately is a taker order. Use Post Only to make sure it only rests as a maker order.

Where do I find the fee in dollars? Trade History, Fee column, for each fill.

Why is my funding fee negative? A negative amount means you paid funding at that time.

I was charged funding but closed my position before the funding time. Funding applies only to positions open at funding time. Check the exact time of the Funding Fee entry against your Position History open and close times.

How do I get lower fees? Trade more volume to reach a higher tier; there is no other way described in the app.

When to contact Support

Send: the contract, the time, the Trade History or Transaction History row (type, amount, time), your tier as shown on the VIP page, and screenshots of the order form fee line and the Fees page rate you compare against. Say whether you expected maker or taker.

Safety reminder

Fees and funding reduce your returns and add to losses. Never share your password, 2FA code, seed phrase or private key.

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