Bullish does not charge fees for opening an account. All fees are associated with transactions.
Trade fees and interest charges
Important: Automated market making is available within the upper and lower price boundaries of our range-bound liquidity pools and for our standard liquidity pools. Returns may vary with our range-bound versus standard liquidity pools. Learn more by reviewing important information about our range-bound and standard liquidity pools at https://bullish.com/legal/range-bound-liquidity-pools.
Trade
| Currency pair | Maker fee | Taker fee |
| BTC/USD | 0 bps | 1 bps (0.01%) |
| ETH/USD | 0 bps | 1 bps (0.01%) |
| EOS/USD | 0 bps | 1 bps (0.01%) |
| ETH/BTC | 0 bps | 1 bps (0.01%) |
| LTC/USD | 0 bps | 1 bps (0.01%) |
| LTC/BTC | 0 bps | 1 bps (0.01%) |
| LINK/USD | 0 bps | 1 bps (0.01%) |
| LINK/BTC | 0 bps | 1 bps (0.01%) |
| USDC/USD | 3 bps (0.03%) | 3 bps (0.03%) |
Maker fee
Maker fees are paid when you add liquidity to the Bullish Hybrid Order Book (HOB) with a limit order or stop limit order.
Non-stablecoins
We do not charge maker fees for trading non-stablecoin pairs such as BTC/USD, ETH/USD, EOS/USD and ETH/BTC.
Stablecoins
Only the stablecoin pair USDC/USD will incur a 0.03% taker fee.
Taker fees
Taker fees are paid when you remove liquidity from the Bullish HOB with a market order.
For example, if you remove 1,000 EOS at US$4 in the EOS/USD market for a total of US$4,000, your fee will be expressed in USD, (the quote currency of the EOS/USD pair), equalling US$0.4, (0.01% of your total order of US$4,000).
Spread included in quoted prices
Prices quoted in the Hybrid Order Book for liquidity provided by the Bullish Liquidity Pools (BLP) include a spread as a market-making fee. The spread comprises (i) a fixed base spread and (ii) a variable spread that is determined algorithmically by the Automated Market Maker (AMM). The spread is applied to the AMM’s mid price.
| BLP | Base spread included in quoted price |
| BTC/USD, ETH/USD, EOS/USD, ETH/BTC, LTC/USD, LTC/BTC, LINK/USD, LINK/BTC | 7 bps |
| USDC/USD | 0 bps |
Bullish Liquidity Pools (BLPs)
No fees are charged on contributions to or withdrawals from the BLP. Bullish retains for itself a portion of the trading fees, spreads and margin interest earned using assets in the BLP.
Important: Earning via Bullish Liquidity Pools is currently only available to institutional customers.
Interest
- Charged for margin trading.
- The interest fee is charged in the same currency as the loan.
- Is calculated hourly on top of the loan amount
- Starts accruing from the time of opening of a margin position until the position is closed.
To view the daily interest rate %:
- Go to the left-hand navigation and choose Trade.
- Choose Margin Positions under the chart on the Trade screen.
Flat fee
Bullish does not charge a flat fee. Our fiat currency sub-custodian, Silvergate Bank, charges a flat fee, regardless of the amount transferred.
Your bank may also charge additional fees. Please contact your bank for more information.
Deposit and withdrawal fees
Bullish does not charge for wire transfers. However, for a fiat transfer, our fiat currency sub-custodian Silvergate Bank charges a deposit fee and a withdrawal fee, as detailed below.
| Fee type | Fee per transaction |
| Deposit |
|
| Withdrawal |
|
| Other |
|
Your bank may also charge additional fees. For these additional fees, please contact your bank for more information.
Canceled order fees
There is no charge if the order is canceled before it is executed. If the order is partially filled/executed, there is a relevant fee for the executed portion:
- If canceling an order that is partially executed:
- For stablecoins, a 3 bps (0.03%) maker fee and a 3 bps (0.03%) taker fee will be applied.
- For non-stablecoins, no maker fee is applied but a 1 bps (0.01%) taker fee will be applied.
- Fee amount calculation = (Fee * [Quantity executed * Price])
Overnight fee
Bullish does not charge an overnight fee. Bullish charges fees on the amount borrowed according to our schedule.
Wire fees
Bullish does not charge wire fees. However for a fiat transfer, our fiat currency sub-custodian Silvergate Bank charges a deposit and withdrawal fee.
Your bank may also charge additional fees. Please contact your bank for more information.
Viewing charged fees
To view the records of charged fees:
- Go to the left-hand navigation and choose Orders.
- Choose Trade History.
- View the Fees column.
Viewing your paid trade fees
To check your paid trade fee history:
- Go to the left-hand navigation and choose Orders.
- Choose Trade History.
- View the Fee column.
You can also filter your search results by:
- Currency Pair (e.g. BTC/USD, EOS/USD, ETH/USD).
- Side (Buy or Sell).
- Time Span (Hour, Day, Week, Month, Quarter).