OKX upgrades its rebate rules for API and AOuth brokers | Beginners Tutorial| OKX Academy

Starting from Aug 18, 2022, OKX crypto exchange will upgrade its broker rebate tier structure to facilitate the growth of OKX brokers’ business. New rebate rules will separate two business lines, Spot and Contract, and also include an upgrade of hourly rebate frequency and a systematic level upgrade.

Tier structure

Spot trading

Contracts trading (Futures, Perpetual, and Options)

“Rebate rate under affiliate relationships”

Users who trade crypto through your broker platform and are connected to other invitation relationships, are defined as “affiliate invitees”. Brokers can receive rebates based on the “Rebate rate under affiliate relationships” from each of these users’ trade.

“Rebate rate under non-affiliate relationships”

Users who trade crypto through your broker platform and are not connected to other invitation relationships, are defined as “non-affiliate invitees”. Brokers can receive rebates based on the “Rebate rate under non-affiliate relationships” from each of these users’ trade.

Requirements

Requirements are based both on Monthly trading volume and on Monthly active traders.

1) Monthly trading volume: Volume of spot and contract is calculated separately per calendar month. The unit is USDT (Tether).

2) Monthly active traders: The number of spot and contract traders is calculated separately per calendar month.

Level

1) Each broker’s level is assessed and updated each calendar month.

2) The brokers’ level is the maximum level between spot and contract levels. The higher level will be applied.

Upgrades and downgrades

1）Monthly upgrades: On the first day of each month, the brokers who meet a higher level requirement than the previous month will be upgraded automatically.

2) Quarterly downgrades: In the first month of each quarter (Jan, April, July and Oct), OKX will review the broker’s performance in the last three months, and decide on whether to execute a downgrade if the broker doesn’t fulfill requirements.

Rebate timing

Settlement cycles are calculated on an hourly basis – settlement will be executed an hour later when rebate is confirmed.

Effective time is calculated on an hourly basis — rebate will be allocated an hour later when settlement is executed.

Exemption period rules

1) New brokers have a 5-month exemption period and won’t be downgraded in the period.

Details: OKX will set a 5-month exemption period for brokers who launch on or before the 15th of a calendar month; a 6-month exemption period for brokers who launch after the 15th of a calendar month.

2) Existing brokers enjoy an exemption period of three months (they won’t be downgraded during the ongoing quarter).

Affiliation status

Rebates for sub-brokers will be calculated separately, based on whether they are under affiliate or non-affiliate relationships. All other rules remain unchanged.

Example

Let’s say a broker wants to allocate rebates for its sub-brokers. This broker can allocate 40% non-affiliate rebate rate for sub-brokers 10%, end traders 10% and broker itself 20% (40% in total). Then, this broker can allocate affiliate rebate rate. Assuming the broker gets 10% rebate rate under affiliate, the broker can allocate rebate rate as sub-brokers 5%, end traders 3% and broker itself 2% (10% in total).

Refer to the Broker Rules for detailed rebating rules.

Note: OKX reserves the right in its sole discretion to amend this announcement and its description.