Deribit has a maker-taker fee model. This means that orders providing liquidity could have different fees versus orders that take liquidity. Fees vary per product and are calculated as a percentage of the underlying asset of the contract.
Maker and Taker Orders
|
Maker |
A “maker” order is an order that adds liquidity to the order book. A maker order is not executed instantly, rather it is placed in the order book. |
|
Taker |
A “taker” order is an order that removes liquidity from the order book. A taker order is an order that is executed instantly against other orders upon submission to the exchange. |
Note
Using a limit order does not guarantee that an order will act as the maker. Traders who want to ensure an order will only act as a maker should make sure that the order is not an iceberg order, and that "Post" is enabled.
|
Contracts |
Maker Fee |
Taker Fee |
Example WarningAll fee and rebate figures shown in the examples are for illustration purposes only. They do not represent actual or guaranteed rates. |
|---|---|---|---|
|
BTC Weekly Futures |
-0.01% |
0.05% |
A trade of $10,000 is executed at a price of $100,000. The taker in the trade will pay 0.05% of 0.1 BTC as a fee, which is 0.00005 BTC. The maker in the trade will receive a rebate of 0.01% of 0.1 BTC, which is 0.00001 BTC. |
|
ETH Weekly futures |
-0.01% |
0.05% |
A trade of $10,000 is executed at a price $5,000. The taker in the trade will pay 0.05% of 2 ETH as a fee, which is 0.001 ETH. The maker in the trade will receive a rebate of 0.01% of 2 ETH, which is 0.0002 ETH. |
|
BTC Futures (including daily) & Perpetual |
0.00% |
0.05% |
A trade of $50,000 is executed at a price of $100,000. The taker in the trade will pay 0.05% of 0.5 BTC as a fee, which is 0.00025 BTC. The maker in the trade will not pay a fee. |
|
ETH Futures (including daily) & Perpetual |
0.00% |
0.05% |
A trade of $20,000 is executed at a price of $4,000. The taker in the trade will pay 0.05% of 5 ETH as a fee, which is 0.0025 ETH. The maker in the trade will not pay a fee. |
|
USDC Perpetuals & Futures |
0.00% |
0.05% |
A trade of 10 SOL is executed at a price of 200 USDC. The taker in the trade will pay 0.05% of 2000 USDC as a fee, which is 1 USDC. The maker in the trade will not pay a fee. |
|
DVOL Futures |
0.00% |
0.05% |
A trade of 100 units of BTCDVOL is executed at a price of 40 USDC. The taker in the trade will pay 0.05% of 4,000 USDC as a fee, which is 2 USDC. The maker in the trade will not pay a fee. |
|
BTC Options |
0.03% of the underlying (0.0003 BTC) per option contract. This fee is also capped at 12.5% of the option's price. Therefore the total fee can be calculated as follows: MIN(0.0003 BTC, 0.125 * OptionPrice) * Amount |
0.03% of the underlying (0.0003 BTC) per option contract. This fee is also capped at 12.5% of the option's price. Therefore the total fee can be calculated as follows: MIN(0.0003 BTC, 0.125 * OptionPrice) * Amount |
An option is traded for a price of 0.008 BTC, with an amount of 3. Both the maker and the taker will pay a fee of: MIN(0.0003 BTC, 0.125 * OptionPrice) * Amount = MIN(0.0003, 0.001) * 3 = 0.0009 BTC |
|
ETH Options |
0.03% of the underlying (0.0003 ETH) per option contract. This fee is also capped at 12.5% of the option's price. Therefore the total fee can be calculated as follows: MIN(0.0003 ETH, 0.125 * OptionPrice) * Amount |
0.03% of the underlying (0.0003 ETH) per option contract. This fee is also capped at 12.5% of the option's price. Therefore the total fee can be calculated as follows: MIN(0.0003 ETH, 0.125 * OptionPrice) * Amount |
An option is traded for a price of 0.002 ETH, with an amount of 5. Both the maker and the taker will pay a fee of: MIN(0.0003 ETH, 0.125 * OptionPrice) * Amount = MIN(0.0003, 0.00025) * 5 = 0.00125 ETH |
|
USDC Linear Options |
0.03% of the index price of the underlying, but capped at 12.5% of the option's price. Therefore the total fee can be calculated as follows: MIN(0.0003 * IndexPrice, 0.125 * OptionPrice) * Contracts * ContractSize (ContractSize = 1 for BTC and ETH options.) |
0.03% of the index price of the underlying, but capped at 12.5% of the option's price. Therefore the total fee can be calculated as follows: MIN(0.0003 * IndexPrice, 0.125 * OptionPrice) * Contracts * ContractSize (ContractSize = 1 for BTC and ETH options.) |
BTC example: 0.5 BTC option contracts is traded for a price of 2,000 USDC, while the BTC-USDC index price is 100,000 (ContractSize = 1). Both the maker and the taker will pay a fee of: MIN(0.0003 * IndexPrice, 0.125 * OptionPrice) * Contracts * ContractSize = MIN(30, 250) * 0.5 * 1 = 15 USDC SOL example: One SOL option contract is traded for a price of 5 USDC, while the SOL-USDC index price is 200 (ContractSize = 10). Both the maker and the taker will pay a fee of: MIN(0.0003 * IndexPrice, 0.125 * OptionPrice) * Contracts * ContractSize = MIN(0.06, 0.625) * 1 * 10 = 0.6 USDC |
|
Spot |
0% |
0% |
Neither the maker nor taker pay any fees for spot trades on Deribit. |
Notice
MIN is short for minimum, and the function MIN(A, B) will give the lowest value of A and B.
MAX is short for maximum, and the function MAX(A, B) will give the highest value of A and B.
Notice
Please keep in mind that for iceberg orders, the visible portion can match as a maker order (eligible for the maker fee), while the hidden portion will always match as a taker order and therefore incur the taker fee. To learn more about hidden orders and other order types, please head to Order attributes
Option combos that contain both at least one buy leg and at least one sell leg benefit from a fee discount that is calculated as follows.
The fees from all the buy legs are summed together. Then all the fees from the sell legs are summed together. Whichever direction has the lowest fees, the fees for the legs in that direction are reduced to zero.
Example:
Warning
All fee and rebate figures shown in the examples are for illustration purposes only. They do not represent actual or guaranteed rates.
A trader executes an option combo with the following legs and fees:
-
Buy Option A with fees of 0.01 BTC
-
Sell Option B with fees of 0.012 BTC
-
Sell Option C with fees of 0.013 BTC
-
Buy Option D with fees of 0.011 BTC
Before the option combo fee discount has been applied, the total fees are 0.01 + 0.012 + 0.013 + 0.011 = 0.046 BTC, however this will be reduced as follows.
Buy leg fees = 0.01 + 0.011 = 0.021 BTC
Sell leg fees = 0.012 + 0.013 = 0.025 BTC
Buy leg fees < Sell leg fees, so the fees for the buy legs are reduced to zero. This means the total fees paid by the trader are reduced from 0.046 BTC to 0.025 BTC.
The option combo fee discount applies to option combinations executed as option combos, as well as those executed as block trades.
Note
Option combinations that have all the legs in the same direction, e.g. a straddle or strangle, do not benefit from the option combo fee discount.
For takers, a 100% discount to the fees is applied to the cheapest leg.
For makers, rebates are reduced by 50%.
Example:
Warning
All fee and rebate figures shown in the examples are for illustration purposes only. They do not represent actual or guaranteed rates.
Client A is the taker for a futures spread and has a regular futures fee of 5 bps (0.05%) for each leg.
Client A will pay 5 + (5*0) = 5 bps for the spread, instead of 10 bps.
Client B is the maker for the futures spread and has a futures maker fee rate of -1 bps (-0.01%) for each leg, in other words a 1 bps rebate for both legs. This is reduced by 50%, meaning they only receive 1 bps in total, rather than 2 bps.
Note
Futures Spreads executed via block trades do not use this same fee model. Please see block trade fees for details.
Block trades have the same fees for maker and taker.
|
Product |
Block Trade Fee |
|---|---|
|
Futures & Perpetual |
0.025% |
|
Options |
0.03%* |
*Option combinations that include both buys and sells also benefit from the option combo fee discount.
When cross collateral is enabled, it is possible for the equity of a particular settlement currency to go negative, while the account as a whole remains solvent.
While the equity of a currency in an account remains negative, a collateral fee will be charged to that account. This fee is charged daily in the same currency as the negative balance (default = 0.05% per day). The fee is charged based on the amount of time the negative equity is held, down to a granularity of seconds.
To avoid paying collateral fees, a trader may replenish the currency with the negative equity themselves instead, by either depositing more or trading between currencies via the spot market. Indeed the main role of the collateral fees is to encourage traders to stay on top of any required rebalancing themselves.
The output is calculated in USD giving a USD row in the Account Summary but this USD output is then converted in each Settlement currency for the sake of backwards compatibility. Important to note that the value sum of your BTC, ETH, USDC and USDT Margin Balance and margins will not be equivalent to your USD Margin Balance and margin.
Futures and options deliveries are charged an additional fee. The daily options and weekly futures are exempt from delivery fees.
|
BTC/ETH Weekly Futures |
0% |
|
BTC/ETH Futures |
0.025% |
|
USDC Settled Futures on BTC and ETH |
0.025% |
|
DVOL Futures |
0.05% |
|
BTC/ETH Daily Options |
0% |
|
BTC/ETH Options |
0.015% - this fee can never be higher than 12.5% of the option's value |
|
USDC Linear Options |
0.015% - this fee can never be higher than 12.5% of the option's value |
Liquidations are charged an additional fee on top of the regular trading fee. This extra liquidation fee is automatically added to the insurance fund. When a liquidation occurs, the total fee will be deducted from your fee balance first before using your account's main balance.
Warning
Fee discounts do not apply to the total fee charged during a liquidation. The total cost is calculated from a fixed rate.
For all options products, the total liquidation fee is capped at 25% of the option's value.
|
Product |
Total Fee |
|---|---|
|
BTC Options |
MIN(0.0019, 0.25 * OptionPrice) * Amount |
|
ETH Options |
MIN(0.0019, 0.25 * OptionPrice) * Amount |
|
USDC Options |
MIN (0.19% * IndexPrice , 0.25 * OptionPrice) * Contracts * ContractSize |
|
BTC Futures & Perpetuals |
0.75% |
|
ETH Futures & Perpetuals |
0.9% |
|
USDC Futures & Perpetuals |
0.75% |
The Total Fee in the above table includes both the regular trading fees, and the extra liquidation fee that is charged only to liquidation orders. Trades that are not part of a liquidation are not charged a liquidation fee.
TotalFee = TradingFee + LiquidationFee
If a combo is traded as part of a liquidation, the liquidation fees will apply to each leg as if traded individually, however, the regular trading fee portion will still benefit from any combo discounts. This includes both option combos and futures spreads.
|
Withdrawals |
Varies based on the coin and the current state of the respective network. To check the current fee for a particular currency, check the relevant withdrawal page, which can be accessed via the wallet page. |
|
Deposits |
Free. Deribit does not charge any fees for deposits, but third parties used to deposit may charge their own fees. |
|
Transfers to subaccounts |
Free |
Sometimes Deribit will credit accounts with a 'fee balance'. This may be as a reward or bonus for completing a specific task, or as part of a promotion. A fee balance can be transferred between your subaccounts on the transfer page.
A fee balance can be used to pay for trading, liquidation, and delivery fees. It cannot be withdrawn, used as collateral, for funding, or for collateral fees.While a positive fee balance remains, it will be automatically used to cover all eligible fees for instruments settled in the same currency. For example, a USDC fee balance will be used to pay the trading, liquidation, and delivery fees for any USDC-settled instruments until the balance has been depleted.
If you have a fee discount, this will be visible on the account settings page. In the Fee Discounts table on that page, the discounts are displayed in the following ways:
Perpetual and futures fees are displayed as the amount that will be paid or received as the maker or taker.
Option fees are displayed as a percentage of the base fee for the option. For example, if the base fee for an option is 0.03% and the percentage shown in your discount table for options is 83.33%, this means your fee for an option will be 83.33% of 0.03% = 0.025%.
The Block Fee is also expressed as a percentage of the base fee for a given instrument. For example, if the base fee for an instrument traded via a block trade is 0.025% and the percentage shown for Block Fees is 80%, this means your Block Fees for that instrument are 80% of 0.025% = 0.02%.
Fee discounts are applied to regular trading fees, but are not applied to delivery fees or liquidation fees.
Deribit has an automated system for applying fee discounts. This is a tiered system of progressively lower fees that is open to all traders on Deribit.
The following table details the upcoming fee levels and their corresponding fee rates.
|
Fee level |
Criteria |
Futures and perpetuals (inverse and linear) |
Options (inverse and linear) |
Block fee discount |
|||
|
Fees in bps (maker / taker) Excluding weeklies |
Fees in bps (maker/ taker) Weeklies |
Fees in bps (maker / taker) |
Fee cap (% of premium) |
Fees in bps Futures and perpetuals |
Fees in bps Options |
||
|
Standard |
None |
0 / 5 |
-1 / 5 |
3 / 3 |
12.5 |
2.5 |
3 |
|
VIP 1 |
100k USDC equity, or, $250k total equity |
-1 / 3.5 |
-1 / 3.5 |
2.5 / 2.5 |
10.42 |
1 (= 40% x 2.5) |
2.5 (= 83.33% x 3) |
|
VIP 2 |
$200m on futures, or, $200m on options |
-1 / 3 |
-1 / 3 |
2 / 2 |
8.33 |
0.75 (= 30% x 2.5) |
2 (= 66.67% x 3) |
|
VIP 3 |
$750m on futures, or, $750m on options |
-1 / 2.75 |
-1 / 2.75 |
1.75 / 1.75 |
7.29 |
0.625 (= 25% x 2.5) |
1.75 (= 58.33% x 3) |
|
VIP 4 |
$1.5b on futures, or, $1.5b on options |
-1 / 2.5 |
-1 / 2.5 |
1.5 / 1.5 |
6.25 |
0.5 (= 20% x 2.5) |
1.5 (= 50% x 3) |
|
VIP 5 |
$2.5b on futures, or, $2.5b on options |
-1 / 2.35 |
-1 / 2.35 |
1 / 1 |
4.17 |
0.5 (= 20% x 2.5) |
1 (= 33.33% x 3) |
|
VIP 6 |
$5b on futures, or, $5b on options |
-1 / 2.25 |
-1 / 2.25 |
1 / 1 |
4.17 |
0.5 (= 20% x 2.5) |
1 (= 33.33% x 3) |
k = thousand, m = million, b = billion
Bps stands for basis points, and 1 bp = 0.01%.
A negative number indicates a rebate instead of a fee.
Note
For SMA subaccounts, a broker’s fee is applied to all SMA-executed trades. The SMA subaccount’s trading volume is not included in the main account volume calculation.
Tip
You can view your fee discount level in the Account Settings page, or by using the private/get_account_summary or private/get_account_summaries methods (with the extended:true parameter).
For level VIP 1, eligibility requires either 100k USDC equity or total equity worth at least $250k. The 100k USDC equity threshold must be satisfied specifically with USDC and cannot be met using the equivalent value of other currencies.
For fee levels with a volume requirement (VIP 2 to VIP 6), the volume threshold for options is separate from the volume threshold for futures. However, the discounts of the highest VIP level a trader reaches for either instrument type are then applied to both product types.
For example, a trader with $750 million in options volume, but only $100 million in futures volume, will be assigned to level VIP 3, and they will still benefit from the reduced futures fees of VIP 3 as well.
Similarly, a trader with $150 million in option volume, and $600 million in futures volume, has not satisfied the option volume criteria for any level, but they have exceeded the futures volume criteria for VIP 2. They will therefore be assigned to VIP 2, and they will benefit from the reduced fees of VIP 2 for both options and futures.
Trades from all subaccounts in an account will be included in fee level calculations. However, trades in spot instruments do not count towards volume requirements.
Upgrades happen once per day at 12:00 UTC, and are based on a rolling period of the previous 30 days. It is possible to be upgraded more than one level at a time if the criteria has been met.
Downgrades are only processed on the 1st day of each month, and are based on the previous calendar month (rather than 30 days). Downgrades will also only happen one level at a time, so if on the 1st day of the month a trader is below the threshold for their current fee level, they will only be moved down a single level on that day.
To further avoid downgrades happening too quickly, downgrades will only be processed if the current VIP tier was achieved on or before the first day of the previous month. For example, if an account was placed on their current VIP tier on the 1st of November, the earliest date they could be downgraded is the 1st of December. However, if an account was placed on their current VIP tier on the 2nd of November, the earliest date they could be downgraded is the 1st of January.
The mechanism for moving up/down fee levels means that upgrades happen quickly, and downgrades happen slowly.
Once an account is upgraded to VIP 1, the monthly average of daily equity over a calendar month is used to determine eligibility for maintaining VIP 1 status. If an account fails to meet the criteria for a full calendar month, meaning the average of USDC equity is less than 100k and average of total equity less than $250k, the account will be downgraded to the standard fee level. After a downgrade from VIP 1, the account cannot be re-upgraded to VIP 1 for one month. This rule is designed to prevent abuse and is the only exception to the principle of fast upgrades.
1. Order of Calculation
Fees are processed in this specific order:
-
Base Fee is calculated.
-
A single discount is applied (see rules below).
-
Fee Balance credit is deducted.
-
Partner Commission is paid out.
2. Discount Stacking and Precedence
-
No Stacking: Volume based discounts and Affiliate discounts do not stack.
-
Precedence: If a user is eligible for both types, the Volume based discount is ALWAYS applied, even if the affiliate discount is higher. The system does not choose the better rate.
3. Options 12.5% Fee Cap
-
The Cap: Fees on options trades or deliveries, cannot exceed 12.5% of the option's value.
-
Further Discount: This capped fee is then reduced further by the user's applicable volume based discount. See the fee table for the effective Fee Cap % (after discount) for the relevant tier.
To aid understanding for newer customers who may be used to different terms or offerings, the following is a non-exhaustive list of additional things not already mentioned on this page that Deribit does not charge fees for:
-
Holding positions overnight (or for any other period)
-
Leverage
-
API usage
-
Loans (Deribit does not offer loans)
-
Margin (Deribit does not offer spot margin)