I feel I'm being overcharged.

[Dr.Bitcoin_Strange]

Hello traders, I don't know if anyone of you have experienced this thing too while trading. If you placed a trade (just one open position), how many times or places are you being charged for that trade? I have been observing this with bybit exchange for a long time but yet I still continue trading there because of their volume, but I want to get a clarification on this, is it how it is on the exchange you are using?

The image below is a screen shot of what I'm talking about, each time I take a trade, I will always see different charges like this and it can be higher depending on the amount used in opening the trade.

[sergiorus]

The bottom one is a funding payment for keeping the position open and it changes all the time, but you also get paid if your position is in different direction from the crowd.

The rest are trading fees. They are a % of the order size but the % is a little bit different for Maker orders and Taker orders.

[Oshosondy]

You can solve the math yourself.

Taker fee: 0.02%
Maker fee: 0.055%

If you enable MNT deduction
Taker fee: 0.018%
Maker fee: 0.0495%

Use it to calculate the amount of money in your position.

The funding fee, you can see it here:


You can use that to calculate it.

Bybit is good for trading is what I know with my past experience on the exchange. I also like that after you open position, the trading fee that will be used to close the position is not on your PnL where you want to close the position. The fee will be hidden where you want to close it, but not hidden on the future trading part.

[Zaguru12]

The bottom one is a funding payment for keeping the position open and it changes all the time, but you also get paid if your position is in different direction from the crowd.

The rest are trading fees. They are a % of the order size but the % is a little bit different for Maker orders and Taker orders.

Yes the last was actually a funding fee and from the negative signs it’s seems it’s short positions actually paying the long positions, it would be positive in the other direction I am not to sure how this is calculated again.

The others are trading fees on different orders using the market orders. What I see though is that OP is trading with smaller amount and high leverage.

[Charles-Tim]

Yes the last was actually a funding fee and from the negative signs it’s seems it’s short positions actually paying the long positions, it would be positive in the other direction I am not to sure how this is calculated again.

You are right, the short will pay the long. How it is calculated is based on percentage of the amount used to long or short which you can see on the image on the second reply.

What I see though is that OP is trading with smaller amount and high leverage.

The OP is using 1x leverage. 0.055÷100×69.6 = 0.3828

[Dr.Bitcoin_Strange]

Thanks for the explanation so far, I think I have already gotten 90% of the answer I'm seeking but one more thing is still not clear to me, concerning the taker and maker fee which was mentioned, from the picture I posted, you guys can see how many times the fee is being taken except for the funding fee which was just ones. So, I still do not understand this taker and maker fee stuff, is it that they will always charge that percentage repeatedly as long as my position is open?

[sergiorus]

I still do not understand this taker and maker fee stuff, is it that they will always charge that percentage repeatedly as long as my position is open?

No you only charged it per order but keep in mind opening a position and closing a position are 2 separate orders.

You will get charged the funding fee every few hours or whatever the rules are on the platform you trade on, as long as your position is open and is on the crowd's side. If it is against the crowd (i.e. you are long whilst the majority is short) you will get paid that fee amount instead.
Keep in mind, that can change every funding period.


And as of what Taker/Maker is, you can google for detailed info but roughly saying Maker puts Limit Orders (Makes the market) and Taker puts market orders (Takes from the market).

[BitMaxz]

If this is just an open position and your entry is a market order, you are subject to a taker's fee, which is supposed to be a one-time fee for a single trade, but if you receive multiple trading fees, that is weird based on your screenshots.

Bybit might have overcharged you I suggest try contacting them why you got multiple fees in opening trades.

[JeromeTash]

OP, are you able to open Bybit on your PC's browser?

If yes, can you follow this link - https://www.bybit.com/user/assets/order/fed/spot-uta-orders/trade-order/current-order and then click on trade history? You should be able to see an overview of all your trades, including how the order was filled.

Please share the screenshot for better context if you don't mind.

[Faisal2202]

Hello traders, I don't know if anyone of you have experienced this thing too while trading. If you placed a trade (just one open position), how many times or places are you being charged for that trade? I have been observing this with bybit exchange for a long time but yet I still continue trading there because of their volume, but I want to get a clarification on this, is it how it is on the exchange you are using?

The image below is a screen shot of what I'm talking about, each time I take a trade, I will always see different charges like this and it can be higher depending on the amount used in opening the trade.

It looks like you opened an XRP trade and Bybit executed it in four partial trades, and in each partial trade it deducted a fee. But if combined, I am sure the total fee will not be higher than the fee of a single full trade, because the fee is fixed or variable according to their fee structure. They are not overcharging you. You have to check how much they charge per trade, because for spot and futures trading the fee is different. You are seeing a single trade split into four parts and the fee is shown separately, but if you combine them, it will not be 4x the original fee. It should still match the specified fee structure.

Speaking about the last one, I think that is a funding rate fee that exchanges deduct every 6 or 8 hours depending on the exchange and the contract type. I think you opened a long trade there, right? I am not fully sure, but the negative values make me think it might be a long position.

[Alphakilo]

OP, are you able to open Bybit on your PC's browser?

If yes, can you follow this link - https://www.bybit.com/user/assets/order/fed/spot-uta-orders/trade-order/current-order and then click on trade history? You should be able to see an overview of all your trades, including how the order was filled.

Please share the screenshot for better context if you don't mind.

What I would like to know first is if OP noticed these charges upon opening the trade or after hours of holding the position, because this could be a determinant factor as to why such supposed fees appear.

As some have already commented here, using Bybit is good because of their quality of service but to be sure of your suspicion of being overcharged, it's good to navigate to the derivatives order history or transactions log, look for filled type just to be sure you weren't deducted across multiple market orders on the order book just to confirm and put your fears to rest.

[JeromeTash]

It looks like you opened an XRP trade and Bybit executed it in four partial trades, and in each partial trade it deducted a fee.

This is exactly what I was also thinking as well. If  he opened the position especially when using the market order option given that the fees were deducted within the same time frame, there is a high chance that the position was filled in 4 different portions

He is only looking at the fee deductions, but he should also look at the trade history. It will give him a clue on how his position was opened.

[Wiwo]

What I understand from the image posted os that, funding fees I one time which is what you are seeing from the bottom and all the others fees that are marked trade, are your fees deduction according to the amount your position was filled and it was filled on multiple order this can be caused by market instability.

I have not take not of fees deduction like this before, but I am aware in some trades how the buy order is filled multiple time like this, that is possibly the reason you see several fees taker and maker fees is a different thing all together.