On June 5, 2020, FTX will update its VIP fee structure to streamline it. We don’t expect this to significantly increase or decrease net fees; primarily it’s meant to make the process simpler.
Starting on June 5th, the VIP fee structure will change to:
VIPs at FTX receive a number of benefits, including:
1) Lower fees
2) Account manager
4) A direct line with a senior technical support for API questions
5) The ability to provide input to the products that FTX launches
6) FTX customized VIP swag and acccess to VIP meet-ups
7) Admin whitelisting of withdrawal addresses
*VIPs do not generate referral fees from their account, though they can still refer other traders and receive fees for that.
Note: You only need to reach either the tier or the 30d volume threshold. For users who are at least 5% of one-sided volume (or 2x the requirements of VIP3), the rate limits are 1.5x the VIP3 tier. For users who are at least 10% of one-sided volume (or 4x the requirements for VIP3), the ratelimits are 3x the VIP3 tier.
The negative numbers here mean that you receive a maker rebate for providing.
*Note that this will not alter your taker fees; those are whatever they otherwise would be according to the standard fee schedule or VIP program. These maker fees shared in the table above will override whatever your maker fees would otherwise be.
Market Maker Payments
In addition to the above, we will be paying out the following monthly:
- $1.5 million proportional to overall spot and futures maker volume of all market makers across the platform.
- $250k proportional to options maker volume
- This will be split 50-50 between all options and MOVE volume traded throughout the calendar month.
- $1k per market for the largest maker in that market by volume for markets that trade over $30k over the month
Note that VIPs still receive fee reductions for holding FTT! You can find the FTT schedule here. Note the following:
1) Your taker fee cannot go below 0.015% all things considered
2) If you have a maker rebate (i.e. you are a Market Maker), FTT will not affect that rebate, but will still decrease your taker fees.
- % of exchange volume means % of exchange taker volume--so if you were the taker on every trade and never provided that would be 100%, not 50%.
- FTX reserves the right to interpret, modify, change, or remove these programs at its sole discretion and will review them periodically.
- While the criteria for the programs are public FTX has no requirement to allow specific entities into the programs.