Binance Updates USDⓢ-Margined Futures Liquidity Provider Program (2024-06-03)

Fellow Binancians,

As Binance conducts regular reviews of its programs to provide users with the most value and competitive services, Binance will be updating its USDⓢ-Margined Futures Liquidity Provider Program effective from 2024-06-03 00:00 (UTC).

Key Highlights:

The “Quoting Ranking” review stream will be removed from the program qualification review system starting from 2024-06-03 00:00 (UTC). Users may qualify for the program by meeting the new standards below.
Maker fee rebates will be updated at approximately 2024-06-11 12:00 (UTC) for users who qualify for the program criteria.

The new Binance USDⓈ-Margined Futures Liquidity Provider Program is as follows:

Tier	Program Qualification Criteria			Fee Structure
Tier	Weekly USDⓈ-M Futures Maker Volume %	And/Or	Weekly USDⓈ-M Futures Maker Volume % (Excluding That on BTC and ETH Pairs)	Maker Fees on USDT-M Pairs	Maker Fees on USDC-M Pairs*	Taker Fees on USDⓈ-M Futures
1	0.20%	Or	0.20%	-0.003%	-0.006%	Standard taker fees as per user’s VIP level
2	0.60%	Or	0.60%	-0.004%	-0.007%
3	1.50%	Or	1.50%	-0.005%	-0.008%
Regular	< 0.20%	And	< 0.20%	Standard maker fees as per user’s VIP level	Standard maker fees as per user’s VIP level

* Notes:

All qualified liquidity providers will stand to enjoy 0.008% maker fee rebates on USDC-margined futures contracts from 2024-01-03 12:30 (UTC) to 2024-07-01 23:59 (UTC) (hereinafter referred to as “Promotion Period”).
Standard maker fee rebates on USDC-margined futures contracts will apply to all qualified liquidity providers after 2024-07-02 04:00 (UTC), as per the program requirements above.

How to Participate:

Users who have a minimum futures trading volume of $100,000,000 equivalent or a minimum spot trading volume of $20,000,000 equivalent over a 30-day period on Binance or other platforms may apply for this program.
Successful applicants will be eligible for a three-week grace period, where they will be granted Tier 1 maker fee rebates on USDT-margined futures contracts, and be exempt from weekly reviews.
Please note that these successful applicants will stand to enjoy 0.008% maker fee rebates on USDC-margined futures contracts during the overlap between the three-week grace period and the Promotion Period (where applicable), and receive Tier 1 maker fee rebates on USDC-margined futures contracts for the remaining grace period.
To apply for this program, please provide proof of your trading volume to mmprogram@binance.com or contact your sales or key account coverage team.

Qualifications:

A: To qualify by weekly USDⓈ-M futures maker volume over the total Binance USDⓈ-M futures maker volume

Weekly USDⓈ-M futures maker volume % = (USDⓈ-M futures maker volume over the week / total Binance USDⓈ-M futures maker volume over the week) * 100%.
At the end of each week, the weekly USDⓈ-M futures maker volume % for each participant will be calculated, and maker fee rebates are awarded to eligible participants whose weekly USDⓈ-M futures maker volume % is equal to or above 0.20%.

B: To qualify by weekly USDⓈ-M futures maker volume (excluding BTC and ETH pairs) over the total Binance USDⓈ-M futures maker volume (excluding BTC and ETH pairs)

Weekly USDⓈ-M futures maker volume % (excluding BTC and ETH pairs) = (USDⓈ-M futures maker volume over the week (excluding BTC and ETH pairs) / total Binance USDⓈ-M futures maker volume over the week (excluding BTC and ETH pairs)) * 100%.
At the end of each week, the weekly USDⓈ-M futures maker volume % (excluding BTC and ETH pairs) for each participant will be calculated, and maker fee rebates are awarded to eligible participants whose weekly USDⓈ-M futures maker volume % (excluding BTC and ETH pairs) is equal to or above 0.20%.

Notes:

Binance will provide daily and weekly reports to all participating liquidity providers, which contain details of their performances.
Liquidity providers will be reviewed on a weekly basis (Monday 00:00 UTC to Sunday 23:59 UTC).
Maker fee rebates are paid immediately upon trade execution. All liquidity providers’ eligibility to receive maker fee rebates is reviewed and adjusted once a week based on the previous week's performance on all qualified pairs.
Fee tier adjustments are automatically updated every Tuesday around 04:00 (UTC).
Participants with unqualified weekly results for three consecutive weeks will be removed from the program. New applications shall be submitted with a gap of one month from the expiration of the last trial.
New participants will enjoy Tier 1 maker fee rebates for USDT-margined futures contracts for the first three weeks. In addition, they will stand to enjoy 0.008% maker fee rebates on USDC-margined futures contracts during the overlap between the three-week grace period with the Promotion Period (where applicable), and receive Tier 1 maker fee rebates on USDC-margined futures contracts for the remaining grace period.
- From the second week, if the performance of new participants qualifies them to obtain a tier higher than Tier 1, then these participants will enjoy higher maker fee rebates corresponding to the higher Tier.
- From the fourth week, only new participants who show qualified performance in the third week of the three-week grace period will enjoy maker fee rebates according to the aforementioned program structure.
Participants who join the program for more than three weeks will have their fee settings updated each Tuesday around 04:00 (UTC) based on the previous week’s performance.
The program’s main goal is to provide liquidity and depth to the Binance USDⓈ-margined futures market. Binance reviews the effectiveness of this program regularly. The program requirements will be adjusted periodically as new pairs are added and as market conditions change. Binance will, on a best efforts basis, provide one week’s notice before introducing any new changes to the program. However, where this is not practicable, Binance reserves the right to, at its sole discretion, make changes without prior notice.
Self-trades will be excluded from maker volume calculations.
Binance reserves the right to disqualify trades that are deemed to be wash trades or illegal bulk account registrations, as well as trades that display attributes of self-dealing or market manipulation.
All trading volume and metrics related to the promotion are measured by Binance at its sole and absolute discretion.
Binance reserves the right to amend or terminate this promotion at its sole discretion due to important reasons, including but not limited to:
- Changes in applicable regulations or policies;
- Obligations arising out of law or decisions issued by common courts or public administration;
- Anti-money laundering or combating financing terrorism rules;
- Technical issues beyond our control;
- Necessity to protect users from potential losses;
- Necessity to protect Binance from the loss of reputation;
- Extraordinary events or circumstances beyond our control (force majeure).
Refer to the VIP and Institutional Services page for more details.
There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.