When trading futures contracts on Bybit, traders need to be aware of the trading fees and settlement fees.
Trading fees (Futures Contract)
1) Adopts the same Trading Fee structure as perpetual contracts when the futures order is manually placed to open and/or close the positions.
2) Upon settlement time (UTC8:00 on the settlement date), any outstanding position will be settled at settlement price, and a 0.05% settlement fee will be charged.
Settlement fees (Futures Contract)
All futures contracts have an expiration date (also known as a settlement date) and due to this product characteristic, 100% of all positions must be entirely closed by the specified settlement date. Therefore, when traders decide not to manually close their position, at the point of reaching the settlement date, the system will automatically settle the position. In the process, a 0.05% settlement fee will be collected by the platform.
For example:
A trader places a buy limit order of 10,000 BTCUSD contracts at $8,000, using 25x leverage for a quarterly futures contract expiring Dec 25, 2020 at 08:00:00 UTC.
Additionally, anticipating a continuous bullish BTCUSD run, the trader intentionally left the position untouched and decided not to manually close his position. On Dec 25, 2020 at 08:00:00 UTC, the system will automatically close his position, and the expected settlement price at that time was recorded at $10,600. The settlement fee payable by the trader will be:
Settlement fee
= Order Value x 0.05%
= (10,000/10,600) x 0.05%
= 0.00047169 BTC
Note: Please be informed that settlement fees are fixed and will not be subjected to any fee discounts or rebates unless otherwise specified in the campaign's T&C.