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    Optional Liquidity Requirements for Bybit Market Maker
    bybit2023-11-22 12:01:27

    The liquidity requirements for Spot and Derivatives Market Makers to qualify for the top incentive tier are outlined below. For detailed information on the Market Maker Program, please refer to this article. 



    Spot: Liquidity Requirements for MM3

     

    Symbols

    Sum.Quote Size in Depth (USDT)

    Coverage

    BTCUSDT

    5bps 40,000 per symbol

    10bps 50,000 per symbol

    50%

    ETHUSDT

    5bps 20,000 per symbol

    10bps 50,000 per symbol

    AVAXUSDT

    FILUSDT

    LDOUSDT

    LINKUSDT

    LTCUSDT

    MATICUSDT

    OPUSDT

    RNDRUSDT

    SANDUSDT

    SHIBUSDT

    SOLUSDT

    TRXUSDT

    XLMUSDT

    XRPUSDT

    10bps 6,000 per symbol

    30%

    AAVEUSDT

    ADAUSDT

    AGIXUSDT

    APEUSDT

    APTUSDT

    ARBUSDT

    ATOMUSDT

    DOGEUSDT

    DOTUSDT

    DYDXUSDT

    FTMUSDT

    GALAUSDT

    HFTUSDT

    LUNAUSDT

    MAGICUSDT

    SUIUSDT

    UNIUSDT

    WAVESUSDT

    10bps 3,000 per symbol

    30%

    Percentage of qualified days in a month ≥ 75%

     

    Notes: 

    — Qualified days refer to the days on which Market Makers (MMs) fulfil daily requirements. Snapshots are taken every 10 seconds to determine MM status based on the qualifying criteria above. MMs are deemed qualified for the day if their qualified snapshots constitute at least 75% of the total snapshots.

    — MM3 status could be extended if the qualified days to evaluation days is at least 75%. Reviews take place at the end of each calendar month to determine the client's new MM status for the upcoming month.

    — Please note that Bybit reserves the right to change the quotation requirements in response to market changes.




    Perpetual & Futures: Liquidity Requirements for MM2

    1. Market Volume Share

    If your Maker Volume Share meets the liquidity requirements of one or multiple segments below, an MM2 rebate will be granted in the respective segment(s).

     

    Segment

    Maker Volume Share Requirement (30day)

    Maker Fee Rebate 

    All Symbols

    0.5%

    -0.005%

    All Linear Perpetual

    0.5%

    -0.005%

    BTCUSDT and ETHUSDT

    0.5%

    -0.005%

    USDT Perpetuals excluding BTCUSDT and ETHUSDT

    0.5%

    -0.005%

    Inverse Perpetual

    0.5%

    -0.005%

    Inverse Futures

    0.5%

    -0.005%




    2. Quote Value

    If your Quote Value meets the liquidity requirements of one or multiple segments below, MM2 will be applied to corresponding contracts in the respective segment (s) accordingly.

     

    BTCUSDT and ETHUSDT

     

    Segment

    Required Coverage 

    (No. of qualified symbols)

    Quote Value Requirements within the Corresponding Depth

    BTCUSDT and ETHUSDT

    Either BTCUSDT or ETHUSDT

    BTCUSDT 

    5bps 35,000 USD or 

    30bps 140,000 USD

    ETHUSDT

    10bps 30,000 USD or 

    30bps 90,000 USD

    Percentage of qualified days in a month ≥ 90% (27 days)



    Linear Perpetuals (excluding BTCUSDT and ETHUSDT)

     

    Segment

    Required Coverage 

    (No. of qualified symbols)

    Quote Value Requirements within the Corresponding Depth

    USDT Perpetuals 

    (excluding BTCUSDT and 

    ETHUSDT)

    60 USDT Perpetuals 

    (excluding BTCUSDT and ETHUSDT)

    1000PEPEUSDT
    ADAUSDT
    APEUSDT
    APTUSDT
    ARBUSDT
    ATOMUSDT
    AVAXUSDT
    AXSUSDT
    BCHUSDT
    BNBUSDT
    CFXUSDT
    DOGEUSDT
    DOTUSDT
    ETCUSDT
    FTMUSDT
    GALAUSDT
    GMTUSDT
    LINKUSDT
    LTCUSDT
    MATICUSDT
    NEARUSDT
    OPUSDT
    SHIB1000USDT
    SOLUSDT
    XRPUSDT

    50 bps

    4,000 USD

    10000LADYSUSDT
    1000XECUSDT
    AAVEUSDT
    ARPAUSDT
    BLURUSDT
    BSVUSDT
    COMPUSDT
    DYDXUSDT
    EOSUSDT
    FILUSDT
    FLMUSDT
    FLOWUSDT
    GPTUSDT
    GRTUSDT
    INJUSDT
    KAVAUSDT
    LDOUSDT
    LINAUSDT
    MASKUSDT
    MAVUSDT
    MDTUSDT
    MKRUSDT
    MTLUSDT
    RNDRUSDT
    SANDUSDT
    STORJUSDT
    STXUSDT
    SUIUSDT
    TOMOUSDT
    WAVESUSDT
    XVGUSDT

    50 bps

    2,000 USD

    Other contracts

    50bps

    1,000 USD

    Percentage of qualified days in a month ≥ 90% (27 days)




    Inverse Perpetuals and Futures

     

    Segment

    Required Coverage 

    (No. of qualified symbols)

    Quote Value Requirements within the Corresponding Depth

    Inverse Perpetual

    25% of inverse perpetual

    BTCUSD

    ETHUSD

    XRPUSD

    Others

    5bps

    10bps

    50bps

    50bps

    10,000 USD

    15,000 USD

    25,000 USD

    2,500 USD

    Inverse Futures

    25% of inverse futures

    BTCUSD Futures

    ETHUSD Futures

    5bps

    10bps

    3,000 USD

    3,000 USD

    Percentage of qualified days in a month ≥ 90% (27 days)

     

    Notes: 

    — Percentage of qualified days in a month ≥ 90% means MMs need to meet the requirements for at least 27 days on a 30-day basis.

    — Please note that Bybit reserves the right to change the quotation requirements in response to market changes.



    Calculation of Quote Value

    • Mid-price: the middle value of bid1 and ask1 of each snapshot is taken as the mid-price.

    For example:
    If the bid1 price of a BTCUSDT snapshot is $16,999, the ask1 price is $17,001, then the mid-price is (16,999+17,001)/2= $17,000.

    • Quote value of a symbol per snapshot: The average quote value within the corresponding depth range of both ask and bid sizes.

    Quote Value = [∑(Ask Quote Value) + ∑(Bid Quote Value)] / 2

    For example:
    The mid-price is $17,000. The depth range of 5bps is between ($17,000 - 0.05% × $17,000) and ($17,000 + 0.05% × $17,000), which are $16,991.5 and $17,008.5 respectively.


    The total ask quote value and total bid quote value within the above range will be counted. The Quote Value is half the value of your counted total asks and total bids.

    • Number of snapshots per day: There are 2,880 snapshots taken every day, with 2 random snapshots taken every minute.
    • Quote value of the symbol per day: The average value of 2,880 snapshots of the symbol. 
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