Dear User:

In order to provide users with better services, Binance will fully upgrade the U-margin futures trading market maker program. Users have the opportunity to qualify for the event with lower maker volume. The new rules will take effect at 08:00 (ET) on June 5, 2023. Users can qualify for the event by reaching the percentage of weekly maker volume of the U-margin futures excluding BTC and ETH currency pairs. After the upgrade, eligible users can qualify at each level in more ways.

For users who qualify for the program based on the new criteria, maker fee rebates will be updated around 12:00 ET on June 13, 2023.

Highlights of Binance U Futures Market Maker Program upgrade:

  • A new qualification assessment criterion is added: the percentage of the weekly maker trading volume of the user's U-standard contract after excluding the trading volume of BTC and ETH currency pairs

  • The user's final score will be determined by the best of the following three scores:

    • The percentage of weekly maker volume of the user’s U-based contract;

    • After excluding the market maker trading volume of BTC and ETH currency pairs, the percentage of user U-based contract weekly order (maker) trading volume;

    • Weekly order ranking.

New Binance U-margin futures market maker fee structure:

grade

The proportion of weekly maker orders (maker) of the user's U-standard contract trading volume (percentage)

and/or

Excluding BTC and ETH pairs, the proportion of weekly maker orders (maker) in the U-standard contract (percentage)

and/or

Weekly Order Ranking

USDT-denominated maker fee

BUSD Maker Fees

Taker Fee

1

0.04%

or

0.04%

or

Top 60-75% (excluding the top 60%)

-0.001%

-0.014%

Refer to the VIP level fee standard of the account

2

0.08%

or

0.08%

or

Top 40-60% (excluding the top 40%)

-0.002%

-0.014%

3

0.20%

or

0.20%

or

Top 25-40% (excluding the top 25%)

-0.003%

-0.014%

4

0.60%

or

0.60%

or

Top 10-25% (excluding the top 10%)

-0.004%

-0.014%

5

1.50%

or

1.50%

or

first 10%

-0.005%

-0.014%

<0.04%

and

<0.04%

and

Not reaching the top 75%

Refer to the VIP level fee standard of the account

Refer to the VIP level fee standard of the account

way of participation:

  • Sign up for the trial period: Users with a 30-day trading volume of at least 100,000,000 BUSD on Binance or non-Binance futures markets or at least 20,000,000 BUSD equivalent on spot markets can apply for a 3-week trial period. After review, participants will be eligible for a Tier 3 maker fee discount during this period.

  • Please provide proof of your trading volume, send an email to mmprogram@binance.com or contact your sales representative or account manager directly to apply for a trial period to learn more about pending orders.

Assessment method:

Method 1: Assess the weekly maker volume of the user's U-margin contract / the proportion of the total weekly maker volume of the Binance U-margin contract market

  • Weekly maker volume ratio (percentage) is: (U-margin contract weekly maker volume / Binance U-margin contract weekly maker volume) * 100%

  • At the end of each week, the trading volume ratio of each participant will be calculated, and qualified participants whose maker volume ratio (percentage) is not less than 0.04% will receive a maker fee rebate.

Method 2: Assess the weekly maker volume of users’ contracts excluding the U-standard BTC and ETH pairs/the proportion of the total weekly maker volume of Binance U-standard futures market excluding the BTC and ETH pairs

  • The weekly maker volume ratio (percentage) excluding the U-margin BTC and ETH pairs is: (weekly maker volume of U-margin futures excluding the U-margin BTC and ETH pairs / weekly maker volume of Binance U-margin futures excluding the U-margin BTC and ETH pairs) * 100%

  • At the end of each week, the trading volume ratio of each participant will be calculated, and qualified participants whose maker volume ratio (percentage) is not less than 0.04% will receive a maker fee rebate.

Method 3: Assessment of market making weekly order ranking

  • Ranking by weekly market making score (only participants with market making scores greater than zero are ranked);

  • Weekly market making score = the sum of 7-day market making scores;

  • Daily market making score = the sum of market making for each currency pair (maker volume * currency pair market making qualified ratio * currency pair weight);

  • At the end of each week, participants will be ranked based on their weekly market maker scores, and fees will be awarded to participants with a score greater than zero and who are in the top 75% of weekly order books.

Notice:

  • Binance will provide daily/weekly market making results to all participating users;

  • Market making performance is determined on a weekly basis, with a time period of 08:00 on Monday to 07:59 on the following Monday (GMT+8);

  • Negative maker fees take effect immediately upon completion of each trade; each account’s maker fee adjustment will be based on the account’s market making performance in the previous week;

  • The maker fee adjustment will be updated every Tuesday around 12:00 am (ET8);

  • If the participant's weekly scores do not meet the requirements for three consecutive weeks, they will receive a reminder email within two weeks. If the scores do not improve after that, they will be disqualified. New applications must be submitted at least one month later;

  • For all newly joined market makers, the same as the original rules, they will be qualified by default in the first three weeks and will enjoy negative maker fees for all trading pairs (-0.003% for USDT-based contracts, -0.014% for BUSD-based contracts).

    • For newly joined market makers, starting from the second week, if their market making performance is higher than level 3, the rebate ratio will be calculated according to the higher level;

    • Starting from the fourth week, you will enjoy the corresponding rate discount based on your account's performance in the last week of the first three weeks of the trial period;

  • For market makers that participate in the program for more than three weeks, the fee setting will be updated every Tuesday at approximately 12:00 am (ET8) based on the performance of the previous week;

  • Binance will regularly update the market maker program rules based on the effectiveness of the current rules on liquidity and market depth. It may occasionally add or reduce trading pairs, adjust the minimum order quantity and spread requirements, and Binance will try to inform you of the adjustments at least one week in advance; however, in special circumstances, Binance reserves the right to make changes at its own discretion without prior notice.

  • All trading volumes and related metrics within the market maker program will be measured by and only by Binance;

  • Market making volume does not include the maker volume of self-fulfilled orders.

  • Binance reserves the right to remove accounts from the program at its sole discretion.

  • In the event of any discrepancy between the translated version and the original English version, the English version shall prevail.

Thank you for your support!

Binance Team

June 01, 2023