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How Are the Fees Charged for Spot Trading?

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BitMEX spot trading fees are always charged in the quote currency of the trading pair. The quote currency is the second asset listed in any pair. For the XBT/USDT pair, USDT is the quote currency; for ETH/USDT, USDT is likewise the quote currency. Understanding which currency bears the fee helps traders calculate their net cost or proceeds before placing an order.

The fee deduction rules follow a straightforward pattern:

  • When buying: Fees are deducted from the currency you spend. For example, if you place an order to buy XBT with USDT, your fees are charged in USDT. The total USDT deducted from your wallet equals the trade value plus the applicable fee.
  • When selling: Fees are deducted from the currency you receive. If you sell XBT for USDT, fees are likewise taken from the USDT proceeds. The USDT credited to your wallet equals the trade value minus the fee.

To illustrate, suppose you buy 0.5 XBT at a price of 40,000 USDT with a taker fee rate of 0.1%. The trade value is 20,000 USDT, and the fee amounts to 20 USDT. Your wallet is debited a total of 20,020 USDT. Conversely, if you sell 0.5 XBT at the same price and fee rate, you receive 20,000 USDT minus the 20 USDT fee, for a net credit of 19,980 USDT.

This approach keeps fee deductions consistent with the quote side of each trade, so you always know which asset will be used to cover the fee before placing your order. Traders can confirm the exact fee amount in the order confirmation dialog and review historical fees in the transaction history section of the BitMEX wallet.

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