POPA ReconBinance Hikes Rebates to Refill Its Order Books
Binance Hikes Rebates to Refill Its Order Books After the $6.36B hack, Binance raised market maker rebates for one week: Tier 2 and Tier 3 firms now earn the Tier 4 rate on spot and futures. Spot: Tier 2 doubles from 0.004% to 0.008% per maker trade, Tier 3 rises from 0.006% to 0.008%. USDⓈ-M futures: Tier 2 goes from 0.003% to 0.005%, Tier 3 from 0.004% to 0.005%. Tier 4 normally takes 1% of weekly spot maker volume. Binance's BTC depth within 1% of price fell about 30% the day after the hack, from $45M to $32M. The goal is to win that liquidity back: deeper order books and tighter spreads…
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