There are five types of fees that will be incurred in Bybit Leveraged Token trading, including trading fee, subscription fee, redemption fee, management fee and funding fee.
Each fee is calculated as follows:
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Let's look at a few examples below:
Trading Fee
Trading fees are charged when buying or selling Leveraged Tokens in the Spot market.
Formula
Trading Fee = Filled Order Quantity × Trading Fee Rate
Trading Fee Rate: 0.1%
Example
Trader A places an order for 200 BTC +3L. He is under the non-VIP level. The trading fee paid by Trader A is 0.2 BTC +3L, based on the following calculation:
200 × 0.1% = 0.2 BTC+3L
To learn more about the trading fees applied for different VIP levels, please refer to the article Trading fee structure.
Subscription Fee
Subscription fees are charged when traders choose to subscribe Leveraged Tokens.
Formula
Subscription fee = Subscription Quantity × Subscription Price × Subscription Fee Rate
Subscription Fee Rate: 0.05%
Example
Trader A subscribe 200 BTC +3L at a purchase price of 7 USDT. The subscription fee paid by Trader A is 0.7 USDT, based on the following calculation:
200 × 7 × 0.05% = 0.7 USDT
Redemption Fee
Redemption fees are charged when traders choose to redeem Leveraged Tokens.
Formula
Redemption Fee = Redemption Quantity × Redemption Price × Redemption Fee Rate
Redemption Fee Rate: 0.05%
Example
Trader B redeems 100 BTC+3L at the redemption price of 10 USDT. The redemption fee payable by Trader B is 0.5 USDT, based on the following calculation:
100 × 10 × 0.05% = 0.5 USDT
Management Fee
The management fee of 0.005% will be charged daily at 12AM (midnight) UTC. It will be reflected in the net asset value of the Leveraged Token. Your position quantity will not be affected.
Formula
Management Fee = Net Asset Value × Position Quantity × Daily Management Fee Rate
Management Fee Rate: 0.005%
Example
Revisiting Trader A’s case, he holds 200 BTC+3L. Assuming the net asset value is 10 USDT, the management fee paid by Trader A is 0.1 USDT, based on the following calculation:
200 × 10 × 0.005% = 0.1 USDT
Funding Fee
Funding fees are charged based on the funding rate of the underlying asset of a Leveraged Token, and are reflected on the NAV of the Leveraged Tokens. Your position quantity will not be affected. Traders can check the funding timestamp from the trading page of the respective Perpetual Contracts.
Formula
Funding Fee = Position Value × Funding Rate
To learn more about how funding fees are calculated, please refer to the Funding Fee Calculation.