Too much trading fee deduction on Bybit

[Oshosondy]

I have been noticing this on Bybit. If I do not trade often, it looks normal but if I am opening and closing like 2 or more than 2 positions daily I started to notice too much fee deduction.

Today I traded with less than $150 with 2.5x leverage. I started with 1x leverage and later increased it to 2.5x leverage.

The trading fee for perpetual future on bybit is 0.02% for makers and 0.055% for takers.

I traded with less than $150 for 2.5x leverage. Let us assume that I used $150. For 2.5x leverage, that would be $375.

For takers which is 0.055%, that is $0.20625 that supposed to be deducted as the trading fee. I gained $2 and realized that I still have $150 on my trading balance which let me knew that too much money was deducted.

Let us say I open a position and close a position with $2 profit using $375 leverage capital, that supposed to be $0.4125 that should be charged as trading fee for opening and closing the position. But I was charged over $2.

Is any Bybit user noticing this. Someone brought something like this in this past that I against it, but I am changing my stance on this when I have been using bybit for longer periods of time.

I will continue to take a look and calculate the trading fee myself and see if Bybit is not scamming people with too much trading fee deduction. But with what I have seen several times now, they are deducting more than it should be and that can be seen as scam.

[1714751567]

1714751567

[1714751567]

1714751567

[huu78]

I also experienced the same thing but not at Bybit, I did it at Binance, and it wasn't a matter of fees, but the leverage I used and the balance I used.
for example
if I have a balance of 300$ and I go long on ETH with a margin of 100$ and leverage of 100x at a price of say 2000$ I will be liquidated if the price of eth falls 3% because I use 100x leverage so 3% of 2000 is 60, so if eth touches below 2000-60=1940 then that's where I should be liquid but this isn't the case, my liquid price is at more than 1950, that's why I'm sometimes confused because it doesn't match what we calculated.

[Bitcoin_Arena]

What contract were you trading and how long was the position open. On top of the fees charged for opening and closing the positions. Sometimes the funding fees which can go as high as 3% could affect the PnL so try to check under the PnL tab for the fee break down if you are using PC.

Here is a screenshot for simple follow up

[GreatArkansas]

Bitcoin_Arena has a point.
You need to consider also the funding fee. When you close your trade, that's the time they will charge the fees like funding fees. So for sure that's why sometimes you notice fee is high or low because of the percentage of the funding fee, or sometimes funding fee is favor on you.

[alani123]

Common trick by exchanges, start out with lower fees, best the market, capture a part of the pie, and then gradually keep milking your loyal traders more and more.

Funny thing is in bybit especially, if you are a large volun maker, you even get PAID to make trades. Bybit will have people having an incentive to market make instead of having to hire someone... And the small volume traders are the ones funding this. It's outrageous if you think about it, but that's not to say that traditional markets are fairer... St least bybit is transparent about how they charge fees.

[Bitcoin_Arena]

Common trick by exchanges, start out with lower fees, best the market, capture a part of the pie, and then gradually keep milking your loyal traders more and more.

Funny thing is in bybit especially, if you are a large volun maker, you even get PAID to make trades. Bybit will have people having an incentive to market make instead of having to hire someone... And the small volume traders are the ones funding this. It's outrageous if you think about it, but that's not to say that traditional markets are fairer... St least bybit is transparent about how they charge fees.

I used to like the fee structure that they used to have when the just got into the market. It was actually similar to what Bitmex had at that time. For the derivatives, the fee would be 0.075% for market orders (market takers) and -0.025% or 0.025% rebate for the limit orders (market markers) and this cut across all traders. There was no VIP or volume tier bullshit.

Later on, the scraped it off for the current unfair fees.

[Oshosondy]

I also experienced the same thing but not at Bybit, I did it at Binance, and it wasn't a matter of fees, but the leverage I used and the balance I used.
for example
if I have a balance of 300$ and I go long on ETH with a margin of 100$ and leverage of 100x at a price of say 2000$ I will be liquidated if the price of eth falls 3% because I use 100x leverage so 3% of 2000 is 60, so if eth touches below 2000-60=1940 then that's where I should be liquid but this isn't the case, my liquid price is at more than 1950, that's why I'm sometimes confused because it doesn't match what we calculated.

I noticed this also on Binance. But not only on Binance but some other exchanges. All these are not to be worried about if you use a very low leverage and while trading good coins like bitcoin.

What contract were you trading and how long was the position open. On top of the fees charged for opening and closing the positions. Sometimes the funding fees which can go as high as 3% could affect the PnL so try to check under the PnL tab for the fee break down if you are using PC.

Here is a screenshot for simple follow up

I know about funding rate. It was a scalp trading. Although I am not a scalper but the trade was not up to 5 minutes. I also take note of funding rate if something like that happen I will check the funding rate time to know if another 4 or 8 hours has started. I will take a closer look into it again. I have forgotten the coin that I used but if I notice something like this next time, I will check the trading fee breakdown.

[slaman29]

As mentioned above, probably the type of trading. I don't know ByBit but I used Binance and others, and it's a common case of type of trading. They always advertise lowest fees but usually this only applies to spot, and only if you use BNB to pay for fees.

Once you start using the extras? Like the futures, the leverage, the overnights, using non-BNB to pay, fees add up. In fact, some have flat fee to start with so small amounts suffer.

I don't know about the scalping though. Never heard of it but makes sense.

BTW try making (set limit instead of taking). It always works for me, long term.

[armanda90]

I think depend on your coins choose for future trading, seems not only with bybit but also in Binance have too much fees pay with several kinds of altcoin for trading, I less experience trading with Bybit and depend with my local exchange have lower fees. Usually my local exchange take more than 0.1% above for maker and possibility raise until 0.3% for taker.
Likely the OP trade on  future trading and have to pay funding fee when your open or long position taken more than 8 hours, yesterday my order in binance have to pay more than $1 funding fees when trading raise more than 24 hours. Its problem when trading in future because required to pay funding fees when have hold more longer time we need to pay higher or much funding fees.

[Natsuu]

When you trade on Bybit, they charge fees based on your actions like opening and closing positions. The thing is, some users have noticed that the fees seem a bit off, especially if you're trading frequently. In your case, it's worth double-checking those fees with Bybit's support to make sure you're not getting overcharged. It's all about keeping things fair and square in your trading game

[Wind_FURY]

Common trick by exchanges, start out with lower fees, best the market, capture a part of the pie, and then gradually keep milking your loyal traders more and more.

It's also probably to encourage users in general to be more active during periods of low volatlity. That could be an indicator that the admins of Bybit are expecting a boring market? Haha.

Funny thing is in bybit especially, if you are a large volun maker, you even get PAID to make trades. Bybit will have people having an incentive to market make instead of having to hire someone... And the small volume traders are the ones funding this. It's outrageous if you think about it, but that's not to say that traditional markets are fairer... St least bybit is transparent about how they charge fees.

In trading perpetual futures contracts markets, I believe long position takers get paid in funding fees by the short position takers if the spot price of the asset is higher than the price of the futures contract of that asset. If the spot price is lower than the perpetual contract's price, it's the long position takers that pay the short position takers.

[Bitcoin_Arena]

In trading perpetual futures contracts markets, I believe long position takers get paid in funding fees by the short position takers if the spot price of the asset is higher than the price of the futures contract of that asset. If the spot price is lower than the perpetual contract's price, it's the long position takers that pay the short position takers.

The funding fees are only fulfilled at specific hours though, depending on the contract and the exchange. Some do it hourly, every 4 hours or every 8 hours so if someone opens and closes the position outside the time funding time, the funding fees won't affect their PNL.

[GeorgeJohn]

When you trade on Bybit, they charge fees based on your actions like opening and closing positions. The thing is, some users have noticed that the fees seem a bit off, especially if you're trading frequently. In your case, it's worth double-checking those fees with Bybit's support to make sure you're not getting overcharged. It's all about keeping things fair and square in your trading game

do you know why I like all the varieties of threading is that once you are trading consistently you are learning or adopting more knowledge of trading depending the level of your understanding, so when you are learning continuously understand some certain things that will be a barrier or things that will make you to fall so I believe that most of people who venture into loss experience so due to lacks of investigation and research.