2026-07-14 21:19:59 +02:00
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# BingX VST Maker Fee Measurement
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2026-07-14 22:12:15 +02:00
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> ## ⚠ VERIFIED VERDICT (Fable, 2026-07-14) — the fee is **+2.00 bps (a COST), not a rebate**
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>
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> omp's raw capture below is **correct and valuable**; only the *sign interpretation* is wrong.
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> BingX reports `commission` with a **negative sign to denote a debit** (money leaving your
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> account) — the opposite of Binance. `commission: "-0.001291"` therefore means the account
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> **paid** 0.001291 USDT, i.e. a **fee of +2.00 bps**, not a −2.00 bps rebate.
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>
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> Two independent proofs it is a cost, not a rebate:
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> 1. **Magnitude is exactly BingX's published maker rate.** `0.001291 / 6.45475 = 0.020001%`
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> = **0.02%** to five figures — the standard tier-0 BingX perp maker fee. No venue *pays*
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> a 2 bp maker rebate at retail tier.
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> 2. **The repo's own friction kernel treats commission as additive cost.** `prod/bingx/friction.py:196`
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> `net_friction_quote = actual_fee_quote + slippage`; the live-sweep doc reports
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> `Total captured fees $2,595.69 = sum(commission_quote)` as fees the venue **captured from us**.
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>
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> **Corrected economics for the spec:** the §0 savings table assumed **1 bp** maker. Measured is
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> **2 bp** maker. Maker-both round-trip = **~4 bp** (2+2) vs taker round-trip **~10 bp** (5.016×2).
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> The savings case **survives** (~6 bp/RT saved) but the per-side maker number **doubles vs the
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> assumption** — it is NOT a 3× improvement, and there is **no rebate**. Update SPEC §0 accordingly.
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> _(n=1; a second fill still worth capturing to confirm.)_
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2026-07-14 21:19:59 +02:00
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**Timestamp:** 2026-07-14T19:18:28.479849+00:00
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**Order Details:**
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- Symbol: BTCUSDT
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- Side: BUY
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- Order Type: LIMIT
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- Time In Force: GTX
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- Order ID: 2077110460164870144
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- Client Order ID: gtx-fee-1784056699
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**Fill Details:**
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- Fill Price: 64547.5
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- Fill Quantity: 0.0001
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- Notional: 6.45475 USDT
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2026-07-14 22:12:15 +02:00
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- Commission: -0.001291 USDT ← BingX sign convention: **negative = debit (a cost we paid)**
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2026-07-14 21:19:59 +02:00
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2026-07-14 22:12:15 +02:00
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**Measured Maker Fee: +2.00 bps** (magnitude `2.000077…` bps; sign corrected from omp's `-2.00 bps`)
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2026-07-14 21:19:59 +02:00
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**Comparison:**
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2026-07-14 22:12:15 +02:00
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- Assumption (maker), SPEC §0: 1 bp → **REFUTED, real is 2 bp (2× the assumption)**
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2026-07-14 21:19:59 +02:00
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- Measured taker baseline: 5.016 bps
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2026-07-14 22:12:15 +02:00
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- This measurement (maker): **+2.00 bps cost** (= BingX published 0.02% maker rate, confirmed)
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2026-07-14 21:19:59 +02:00
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**Raw Venue Response:**
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```json
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{
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"symbol": "BTC-USDT",
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"orderId": 2077110460164870144,
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"side": "BUY",
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"positionSide": "BOTH",
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"type": "LIMIT",
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"origQty": "0.0001",
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"price": "64547.5",
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"executedQty": "0.0001",
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"avgPrice": "64547.5",
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"cumQuote": "6",
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"stopPrice": "",
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"profit": "0.0000",
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"commission": "-0.001291",
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"status": "FILLED",
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"time": 1784056699000,
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"updateTime": 1784056707000,
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"clientOrderId": "gtx-fee-1784056699",
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"leverage": "3X",
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"takeProfit": {
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"type": "TAKE_PROFIT",
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"quantity": 0,
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"stopPrice": 0,
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"price": 0,
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"workingType": "",
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"stopGuaranteed": "false"
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},
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"stopLoss": {
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"type": "STOP",
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"quantity": 0,
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"stopPrice": 0,
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"price": 0,
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"workingType": "",
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"stopGuaranteed": "false"
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},
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"advanceAttr": 0,
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"positionID": 2077110178940981248,
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"takeProfitEntrustPrice": 0,
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"stopLossEntrustPrice": 0,
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"orderType": "",
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"workingType": "MARK_PRICE",
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"onlyOnePosition": true,
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"reduceOnly": false,
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"postOnly": false,
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"stopGuaranteed": "false",
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"triggerOrderId": 0,
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"trailingStopRate": 0,
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"trailingStopDistance": 0,
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"is_twap": false,
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"mainOrderId": "",
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"priceRate": "",
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"actPrice": "",
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"closePosition": "false"
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}
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```
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