How to verify your rebate on your own exchange statement (BingX and LBank)

Posted by the operator of RebateMax

I earn a commission from BingX and from LBank when you register through my links. On BingX that commission is 60% of the trading fees your account generates; 50 of those 60 points go back to you as the standing discount and roughly 10 stay here. So everything on this site that says "you pay less" comes from someone with a stake in you believing it. The legit page promises that you never have to. This is the post that makes good on it: the exact check, in the exact place, with the exact number you should see.

The whole thing takes one small order. The exchange applies the discount, not this site, so the proof is on the exchange's own paperwork, and there is nothing I could do to it either way.

The numbers you are checking against

These are the published perpetual-futures schedules for a new account, and what the same account pays through our links. Every figure is per fill, on the notional value of the position.

The two deals work differently, which matters for what you will see. On BingX, the exchange applies a 50% discount to the standard schedule, so on the base tier, which is where almost every reader is, the discounted rate is exactly half the published one. On LBank, the account simply carries the 0.0015% / 0.003% rates from the first order, with no ladder underneath. BingX spot follows the same halving: 0.1% each side standard, 0.05% through the link. LBank's spot rates have not been verified here, so this post does not check them.

Neither discount expires, neither has a volume requirement, and neither can be added to an account you already have. That last one is the whole reason to check on your first order rather than your hundredth.

Step 1: find what the schedule says you pay

BingX has a fee page inside your account that shows your current tier and its maker and taker rates. LBank publishes its schedule.

BingX. The account menu has a Fees entry with the trading-fee schedule (when I last walked through it, that was the menu in the bottom corner, then Fees, then Trading Fees; the exchange moves things, so if it is not there, the public schedule at bingx.com/en/vip/introduction shows the same tiers). Almost everyone is on the base tier. The lowest rung, Elite, asks for $5 million of 30-day futures volume or $500,000 of spot volume, and the asset door only opens at VIP 1 with $50,000 held on the exchange, so unless you are there, your schedule rate is 0.02% maker and 0.05% taker on perpetuals.

LBank. The published schedule for a standard account is 0.02% maker and 0.06% taker on perpetuals. Those are the two numbers to write down.

Write your two schedule rates down. The schedule page tells you what your tier costs. It is not the proof that the referral is attached. The proof is the next step.

Step 2: place one small order and read the fee line

Open a small perpetual-futures position with a market order, so you know it is a taker fill. Then open that order in your trade history and find the fee. The exchange usually shows one fee amount per fill, in the currency the contract settles in.

The fee is the notional value multiplied by the rate. Here is what it should read on a $10,000 notional taker fill and on a $1,000 one:

If you used a limit order that sat on the book before filling, it is a maker fill and the numbers are lower: on $10,000, BingX $2.00 standard against $1.00 through the link; LBank $2.00 standard against $0.15 with the code.

Four things trip people up when they read this line.

Leverage does not change the fee. A $10,000 position at 10x leverage has $1,000 of margin and $10,000 of notional, and the fee is charged on the $10,000. The same position at 25x pays the same fee. If your fee looks ten times too high, you are dividing by your margin.

A limit order can still be a taker. A limit buy placed above the current price fills immediately against the book, and it is charged the taker rate. The order type on the ticket is not what decides it; whether the order waited on the book is.

Partial fills are separate lines. An order filled in three pieces shows three fee amounts. Add them, or check any one of them against its own filled size.

Funding is not a fee. If you hold the position across a funding window, you will see a funding payment on the position, paid to or by other traders. It is not on the fee line and it is not part of this check.

That is the check. One order, one line, one multiplication. If the fee on your filled order is half the schedule rate on BingX, or 0.003% on LBank, the discount is on the account and it stays there. If it matches the standard schedule instead, go to the section below on what that means.

Step 3: reconcile a whole month

One order proves the rate. A month proves nothing changed. Both exchanges let you export your trade history; the two columns that matter are the fee charged and the notional value filled.

Add up the fees. Add up the notional (entries and exits both, because every fill pays). Divide the first by the second. That is your effective fee rate, and it should sit inside one of these bands:

Where the number lands inside the band depends on your maker/taker mix. A trader who is 60% taker on a discounted BingX account should see about 0.019%. The same mix on a standard account is about 0.038%.

There is one ambiguity worth naming on BingX. A standard account that trades only maker orders pays 0.02%, and a discounted account that trades only taker orders pays 0.025%, so an effective rate between those two could be either. If yours lands there, do not average; look at individual taker fills, which are 0.05% or 0.025% and nothing in between. On LBank there is no overlap at the base tier, because 0.003% is far below the 0.02% a standard account pays on its cheapest fills.

A worked month: $200,000 filled on BingX perpetuals, $76 in fees. That is 0.038%, squarely in the standard band, and the referral is not on that account. The same volume at $38 in fees is 0.019%, and it is.

The fee comparison runs the same arithmetic on any volume you type in, if you want to see what a month should have cost before you export one.

If the discount is not there

The cause I know of is that the referral was not attached when the account was registered. On both exchanges, referral attribution happens at sign-up. BingX reads the code from the link or the "Referral Code" field on the sign-up form; LBank reads code 60VZB from the link or the referral field on the sign-up form. If the field was empty, or the account already existed, there is nothing on the account to discount, and no partner can add it afterwards. There is no portal, no claim button and no monthly renewal on either deal, which is what makes it verifiable, and also why it cannot be fixed later.

Two other readings of a wrong number:

The fee is lower than the schedule but not half. BingX applies smaller discounts through other public referral codes. The widely promoted ones generally deliver 20% for life, with the advertised 50% applying only for a promotional window of 30 to 60 days after registration; VIP tiers and token holdings change the rate too. If your fill is 0.04% against a 0.05% schedule, some discount is on the account, and it is not this one.

The fee is exactly the schedule rate on your first order but you are sure you used the link. Take the order id to the exchange's support and ask which referral, if any, the account is attributed to. That is the record that decides it; we have no way to change attribution from our side, and I would rather you had the exchange's answer than mine.

I am not going to suggest opening a second account to get the discount. Each exchange's account rules are its own, and that decision is yours to make with those rules in front of you.

What this check cannot tell you

It tells you what you pay in trading fees on one exchange. It does not tell you whether that exchange is safe, whether the trade was a good one, or what the position cost in spread, slippage and funding, which for a leveraged trader held overnight is often more than the fee. The BingX fees post and the LBank fees post have the full schedules and the year-of-trading arithmetic; BingX vs LBank is the side-by-side.

If your number disagrees with this post

Then this post is wrong, or the deal has changed, and either way I want to know. The operator's public channels are linked on every page. Send the schedule rate, the fill size and the fee line, with nothing else from your account, and I will check it against the agreements and correct the post at the top, dated, as the LBank post promises and the BingX fees post has already had to do once.

To register: BingX through the BingX referral page, LBank through rebatemax.trading/lbank or with code 60VZB on the sign-up form. If you already trade on either, the check above still tells you exactly what you are paying, which is worth knowing whoever you registered through.

Trading involves risk. Leveraged futures can lose your whole margin quickly. Nothing here is financial advice.