Binance cuts TradFi perp fees, shields BULLAUSDT mark price

Binance Futures will change the fee schedule for all traditional-finance-linked perpetual contracts on November 5 at 08:00 UTC, with the promotion continuing until further notice. Under Binance’s fee announcement, regular users through VIP 9 will pay 0 maker fees on TradFi Perps during the promotion period.

The taker discounts are tiered. Binance says regular users through VIP 3 receive 20% off taker fees, while VIP 4 through VIP 9 receive 40% off. Put another way, the first group pays 80% of the standard USDT taker fee rate, calculated as 100% minus 20%; the second pays 60%, calculated as 100% minus 40%. Binance did not state the standard rate in the announcement, so the cash amount saved cannot be calculated from the published terms alone.

That structure cuts the cost of both sides of the trade for eligible accounts: passive orders face no maker charge, while aggressive orders receive a discount that increases at VIP 4. The immediate effect is clearest for traders already active in TradFi Perps, where the promotion changes execution costs from November 5 rather than changing contract specifications.

Binance is also changing the risk controls around BULLAUSDT. At 06:00 UTC on October 28, Binance Futures applied its Last Price Protected Mechanism to the USDⓈ-Margined BULLAUSDT Perpetual Contract, citing spot-price divergence and deposit and withdrawal limits observed across multiple exchanges. The details appear in Binance’s LPP announcement.

During the LPP period, Binance says the mark price will use the average of BULLAUSDT trade prices over the previous 10 seconds, recalculated every second and subject to a ±1% price cap.

Funding changes at the same time. Binance reduced BULLAUSDT’s capped funding rate from +2.00%/-2.00% to +0.005%/-0.005%. That is a 400-fold reduction in the absolute cap: 2.00% divided by 0.005% equals 400. The contract remains on its existing eight-hour funding interval during the LPP period because Binance exempted it from the rule that could move funding from every eight hours to every one hour.

Read together with the TradFi fee schedule, the two notices show Binance reducing stated trading costs for traditional-finance-linked derivatives while imposing tighter pricing controls on a contract where it observed cross-exchange dislocation.