In option trading, three types of fees — trading fee, delivery fee and liquidation fee — may be involved.
Trading Fee
Trading fees will be charged in USDC when opening or closing a position. On Bybit, maker orders and taker orders use the same fee rate.
|
|
Maker Fee Rate |
Taker Fee Rate |
|
Options | 0.02% | 0.02% |
Note: Trading fee for a single contract can never be higher than 12.5% of the option price.
Calculation
Formula
Trading Fee = Minimum (Taker/Maker Fee Rate x Index Price, Maximum Proportion of Transaction in Order Price × Option Traded Price) × Option Traded Size
Example
Let's say that Ann orders the following option trade:
- Type: Call
- Strike Price: $45,000
- Order Size: 0.3 BTC
- Expiration Date: October 31, 2021
- Underlying: BTC
When the BTC index price is $42,000. Ann places a 0.3 BTC call option and trades it all at a price of $3,000.
In this case, Ann needs to pay a trading fee of 2.52 USDC, based on the following calculation:
Trading Fee = Minimum (0.02% × 42,000, 12.5% × 3,000) × 0.3
Delivery Fee
Delivery fees will be charged when the option is exercised.
Let's take a call option as an example. When the delivery price of the underlying price is higher than the strike price, the option is executed. The buyer receives the option profit, and the seller is obliged to sell the option. They both need to pay delivery fees. Only unexercised options are delivery fee free.
|
|
Delivery Fee Rate |
|
Options |
0.015% |
Notes:
— The delivery fee for a single contract can not be higher than 12.5% of the Option's value.
— Daily Options do not incur delivery fees.
Calculation
Formula
Delivery Fee for Call Option = Minimum [Basic Delivery Fee Rate × Index Price, Maximum Proportion of Delivery in Option Value × (Estimate Delivery Price − Strike Price)] × Position Size
Example
Let's revisit Ann's case:
- Type: Call
- Underlying: BTC
- Strike Price: $45,000
- Traded Size: 0.3 BTC
- Expiration Date: Oct. 31, 2021
- Estimate Delivery Price: $46,050
When the option contract expires, the BTC index price is $46,000. Ann exercises the call option.
In this case, Ann needs to pay a delivery fee of 2.07 USDC, based on the following calculation:
Delivery Fee = Minimum [0.015% × 46,000, 12.5% × (46,050 − 45,000)] × 0.3
Note:
— Between 7:30AM UTC and 8:00AM UTC on the options contract expiration date, Bybit will calculate the estimated delivery price, based on the BTC index price.
Formula
Delivery Fee for Put Option = Minimum [Basic Delivery Fee Rate × Index Price, Maximum Proportion of Delivery in Option Value × (Strike Price − Estimate Delivery Price)] × Position Size
Example
Let's look at put options:
- Type: Put
- Underlying: BTC
- Strike Price: $42,000
- Traded Size: 0.3 BTC
- Expiration Date: Oct. 31, 2021
- Estimate Delivery Price: $39,050
Bob buys the put option of BTC-31OTC21-42000-P. When the option contract expires, the BTC index price is $40,000. Bob exercises the put option.
In this case, Bob needs to pay a delivery fee of 1.8 USDC, based on the following calculation:
Delivery Fee = Minimum [0.015% × 40,000, 10% × (42,000 − 39,050)] × 0.3
Note:
— Between 7:30AM UTC and 8:00AM UTC on the options contract expiration date, Bybit will calculate the estimated delivery price based on the BTC spot index price.
Liquidation Fee
In options trading, additional fees will be charged for liquidations.
|
|
Liquidation Fee Rate |
|
Options | 0.2% |
Calculation
Formula
Liquidation Fee = Liquidation Fee Rate × Option Traded Size × Index Price
Example
Take the following option:
- Type: Call
- Strike Price: $37,000
- Traded Size: 0.3 BTC
- Expiration Date: May 31, 2021
- Underlying: BTC
Bob is the seller of the BTC-31MAY21-37000-C option. If the BTC index price rises to $42,000, he needs to replenish the $300 margin to maintain the position. However, the available balance of the USDC account is insufficient. The position will therefore be liquidated.
In this case, the liquidation Fee will be 25.2 USDC, based on the following calculation:
Liquidation Fee = 0.2% × 0.3 × 42,000
Note:
— The liquidation fee is automatically added to the insurance fund after deducting the trading fee.