What are the New Fees
New Fee structure can be found here
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.
How the new fee structure will work
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. The Liquid UI will be updated to show your 30 day trading volume, but this change may follow a few days after the release of the new 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.
Liquid is charging 0 fees for funding. Instead a perpetual swap occurs between users which depends on the ratio of open longs to open shorts.
Read more about Swap Rate
Liquidation Fund works as below:
User is liquidated at bankruptcy price (ie executed at a price such that his remaining margin is 0).
Any additional proceedings from the liquidation are booked on account of the Liquidation Fund.
Any loss not covered with the bankruptcy price is paid by the Liquidation Fund.
Have questions about Perpetual Contracts and trading? Contact our Customer Support team now.