Introducing a new fee structure on Liquid

In Product

On 31st March at 12pm JST Liquid’s fee structure will be changing. We have designed our new fee structure to remove the friction of trading fee rebates and to better reward both high volume traders and order makers.

The change will introduce a renewed fee structure which calculates a user’s trading fees based on the user’s previous 30-day trading volume on Liquid, with lower fees for higher-volume traders. Under the new fee structure makers will have lower trading fees compared to takers at higher trading volume levels. The new fee structure applies to all Liquid users apart from Japan residents.

The old high volume trader rebate will cease to exist upon the introduction of our updated fee structure. Instead, the entire trading fee schema has been designed to encompass and improve upon the benefits that were provided by the high volume rebate. With the introduction of the new fee structure all trading fees will be discounted at order execution, there will be no rebates.

The new fee structure

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Perpetual trading volume is counted separately and has different fee levels. However, a user is entitled to the higher discount level that they qualify for across both fee structures. For example, if over the last 30 days a user has achieved Spot/Margin/CFD volume of $10M (Level 7) and Perpetuals volume of $300M (Level 9), the user would sit in Level 9 for both Perpetuals and Spot/Margin/CFD.

Currently Liquid Perpetuals is in beta and trading fees are set at zero, regardless of your trading volume. The above fee structure will be implemented upon full release of Liquid Perpetuals. 

How the new fee structure will work

Trading fee discounts will be applied at the time of payment - there will no longer be any fee rebates on Liquid. This is a strongly requested change that enables clients to better manage their trading inventories.

Liquid will maintain a calculation of a user’s previous 30-day volume which will be updated once every 24 hours at 11pm JST. The calculated figure will show in USD on the Liquid UI.

Please note that fees will be charged at the time the order is matched, not when the order is created. This means that the associated trading fees could change from the time of order creation to execution. Liquid will reserve the maximum possible fee at order entry to cover all possible fee payments at order execution.

API traders will be able to query their 30 day trade volume via API.

What role does Qash play?

All users are still able to receive a 50% discount on trading fees by paying with Qash. To pay your trading fees with Qash you must have a Qash balance in your Liquid account and turn on the option to pay fees with Qash in your account settings.

How will the change be introduced?

Liquid’s new fee structure will be effective from 31st March 2020. Once the change is introduced the trading volume of existing users over the last 30 days will automatically be calculated and applied to the new updated fee structure.

How is the 30 day volume calculated?

Liquid will use your 30-day trading volume, calculated by taking the sum of a user’s daily volume over the last 30 days. This is updated once every 24 hours at 11pm JST.

This content is not financial advice and should not form the basis of any financial investment decisions nor be seen as a recommendation to buy or sell any good or product. Trading cryptocurrency is complex and comes with a high risk of losing money, particularly if you trade on leverage. You should carefully consider whether trading cryptocurrencies is right for you and take the time to learn how trading works and decide how much money you are prepared to lose.

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Liquid

Providing liquidity for the crypto economy.