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Introduction
For perpetual futures investors—especially active traders, market makers, and professionals—rebates are more than just nice perks: they can materially affect profitability. By reducing net transaction costs, rebate programs tilt the economics in favor of disciplined, high-volume trading. This complete guide provides actionable advice on rebate guides for perpetual futures investors. It covers how rebates work, where to find them, strategies to qualify, and caveats to watch out for.
- What Are Rebates & Why They Matter
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1.1 Definition: What Is a Rebate in Perpetual Futures?
A rebate in the perpetual futures market refers to a reward or partial refund paid back to traders who contribute specific types of volume (often maker / liquidity-providing orders) or meet certain criteria established by exchanges. Rebates reduce net trading costs by offsetting fees.
1.2 Key Drivers: Why Traders Seek Rebate in Perpetual Futures
- Lower Costs: Rebates help offset maker/taker/trading fees, improving margins, especially for high-leverage, high-frequency strategies.
- Liquidity Incentives: Exchanges want deep liquidity; offering rebates to liquidity providers (makers) encourages tight spreads and more efficient markets.
- Competitive Edge: For institutional or professional investors, rebates can be a differentiator, especially when margins are tight.
- How Rebate Programs Typically Work
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Understanding the mechanics of rebate schemes is essential before you chase them. Different exchanges have different rules.
2.1 Maker / Taker Models & Liquidity Provision
- Maker Orders: Those that add liquidity (limit orders, passive bids/offers) often qualify for rebates.
- Taker Orders: Those that remove liquidity (market orders or marketable limits) usually pay fees; rarely receive rebates.
2.2 Tiered & VIP Rebates
Many exchanges have tiers—based on volume, order behavior, or liquidity provision share—that unlock different rebate levels. As you trade more or as you provide more liquidity, you climb tiers and get better rebates.
2.3 Reward Pools & Incentive Programs
Beyond simple fee rebates, some platforms offer reward pools that distribute tokens, vouchers, or USDC/other stablecoins in return for participation in maker programs or contributing to ongoing liquidity.
- Where to Find Rebate Programs & Good Offers
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Knowing which exchanges offer meaningful rebates is half the battle. Here are examples of notable rebate programs and what they offer:
3.1 Bybit Market Maker Incentive Program
Bybit offers a tiered Market Maker Incentive Program, with exclusive rebates for perpetual futures and derivative markets. It’s designed for institutional liquidity providers. Bybit
3.2 Backpack Exchange Market Maker Program
On Backpack, market makers in perpetual futures markets are eligible for maker rebates and also participate in monthly reward pools. Backpack Exchange
3.3 Bitget Liquidity Incentive Upgrades
Bitget recently revamped its program: maker rebates up to –0.012% on spot and –0.005% on futures for key perpetual contract pairs like BTCUSDT & ETHUSDT. That’s quite competitive. Bitget+1
3.4 Derive Exchange Institutional Program
Derive (DRV) has a Partner Incentives / Market Maker Rewards scheme. It includes a sizable reward pool (e.g. USDC) every certain epoch for perpetual futures makers and takers. Derive Help Center
- Two Effective Strategies to Maximize Rebate Benefits
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Here we compare two strategies and discuss which might be best depending on your profile.
4.1 Strategy A: Maker-Focused Volume Strategy
How It Works
- You focus on placing more maker orders (limit orders not executed immediately) rather than taker orders.
- Use algorithmic trading or bots to maintain constant liquidity provision.
- Move up in VIP or maker-score tiers by sustaining high volume / high share of maker orders.
Pros
- High potential rebate per trade if you qualify for top tiers.
- Lower net cost, can even reach situations where rebates offset fees or make net maker cost negative.
- Improves profit margins for high-frequency or market-making strategies.
Cons
- Requires consistency and sometimes high technological and infrastructure overhead.
- Maker orders may not always be filled; thus potential opportunity cost.
- During low liquidity or volatile markets, passive maker limit orders might lag or be skipped.
4.2 Strategy B: Promotional / Event-Based Rebate Exploits
How It Works
- Many exchanges offer rebate promotions when launching new perpetual pairs (e.g. early-phase maker rebates) or temporary events tied to trading volume vouchers.
- You time entry into such promotions, trade on promoted pairs, collect rebates, then reduce exposure when the promotion ends.
Pros
- Can get big rebate boosts with relatively lower barrier to entry.
- Less permanent commitment than building high-volume maker infrastructure.
- Good way for retail or small-volume traders to benefit temporarily.
Cons
- Promotions are temporary and can revert back to standard fees.
- Sometimes “bait-and-switch”—exchanges may raise taker fees or restrict rebates afterwards.
- Risk of overexposing in pairs you are less familiar with just for the rebate yield.
4.3 Comparison & Best Approach
| Approach | Best for… | Risks / Trade-offs |
|---|---|---|
| Maker-focused volume | Experienced traders, market makers, HFT-type setups, institutional investors | Needs infrastructure and capital; may have unfilled orders or opportunity costs |
| Promo-driven rebate strategy | Retail / smaller traders trying to lower cost temporarily | Less stable, promotional risk; may sideline strategy if liquidity is poor or spreads widen during promo |
Recommendation: If you expect to trade frequently or want a long-term edge, build a maker-focused strategy and aim for high rebate tiers. Use promotional rebate opportunities opportunistically but don’t base your business model entirely on them.
- Practical Guide: How to Qualify & Optimize for Rebates
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To make rebate programs work for you, you need to meet requirements and optimize behaviors. Here’s how:
5.1 Understand Terms & Conditions
- Minimum maker volume share or total volume over 30 days / epoch.
- Specific perpetual pairs eligible (only major pairs may have rebates).
- Funding rates and net cost of holding overnight positions.
5.2 Tools & Technical Setup
- Use API trading or bots to place limit (maker) orders efficiently.
- Track your maker vs taker proportions, fill rates, average spreads.
- Manage latency; in volatile markets, maker orders too far from midpoint may never get filled.
5.3 Calculating Net Benefit
Your net benefit = Rebate amount – cost of missed opportunity + funding rate cost + slippage. Always compute to ensure the rebate actually helps (not just nominal).
5.4 Volume Scaling & Tier Climbing
- Work toward higher tiers by increasing both spot and perpetual futures maker volume if the platform allows.
- Some exchanges require quoting across multiple pairs or maintaining certain order book presence to qualify as “market maker.”
- Common Pitfalls and Risks
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- Fake Volume / Wash Trading Risks: Exchanges may disqualify questionable volume or non-genuine liquidity.
- Changes in Fee Structure: Exchanges often change tiers, rebate rates, or eligibility—monitor for updates.
- Funding Rate Offsets: If your perpetual holdings pay funding (long positions might pay during positive funding rates), that cost may outweigh rebates.
- Liquidity Risk: Some perpetual pairs, especially for smaller cryptos, have thinner liquidity; your limit orders may suffer slave risk (never executed) or large slippage.
- FAQs: Rebate Guides for Perpetual Futures Investors
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Q1: How to get rebate for perpetual futures?
To get rebates, you typically need to place maker orders on exchanges that offer maker rebates. Ensure you meet the exchange’s criteria—such as minimum maker share, volume thresholds, VIP level, or being part of a liquidity provider program. Some exchanges require an application (market maker/institutional onboarding).
Q2: What are rebate benefits for professional traders vs. retail investors?
- Professional traders often benefit at scale, with negative or near-zero maker fees, rebates, and custom pricing. They can sustain the infrastructure (bots, API, low latency) to capture rebates profitably.
- Retail investors may get smaller rebates or promotional benefits. Retail rebate programs often have lower thresholds but also lower rebate rates. Promotions are particularly helpful but temporary.
Q3: How to maximize rebate in perpetual futures?
- Shift more of your trading toward maker (limit) entries rather than taker (market) entries.
- Choose exchanges with generous maker rebate programs on perp markets and that list the pairs you trade.
- Monitor your tier status, keep up with fee schedule changes, and ensure you maintain good maker fill rates.
- Optimize order placement (distance from mid-price), so your limit orders are more likely to fill.
- Case Studies
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Case Study A: Institutional Market Maker at Bybit
An institutional liquidity provider applications to Bybit’s Market Maker Incentive Program, after meeting volume and spread requirements, receives exclusive rebates on perpetual futures trades. Their net maker costs drop significantly as maker rebates offset nearly all fees for certain pairs.
Case Study B: Retail Trader Using Promotional Rebates
A retail futures trader notices that Binance launches a promotion offering 0.005% maker fee rebates for new USDT-perpetual pairs during the first two weeks of listing. The trader trades mainly in those pairs during that period, gains rebate reductions, but then steps out once base fees return. Net savings improve short-term profitability.
- Best Practices Summary
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- Always read the fine print: rebate eligibility, maker vs taker definitions, pair eligibility.
- Use maker orders wherever possible. Adjust your algos to lean slightly more passive.
- Choose exchanges with stable, transparent rebate programs.
- Track your own performance—rebates + fees + funding rates + slippage—to understand net trading cost.
Conclusion
Rebate programs are underexploited levers that perpetual futures investors can pull to enhance outcomes. Whether you are a professional market maker or a high-volume retail trader, understanding rebate guides for perpetual futures investors gives you a strategic edge. A maker-focused strategy offers long-term benefits; promotional rebate programs can offer short-term boosts. Combine the two wisely, manage risks, and re-evaluate regularly.
If this guide helped you, share it with fellow traders, drop your questions below, and let’s build a smarter trading community together.