Binance Market Maker Requirements & Rebate Tiers
Binance runs the deepest spot and derivatives books in the industry, and its MM programmes reward firms that can prove sustained quoting and volume. The published fee schedule is only half the picture — the rebates that matter sit behind the MM+ application and a working relationship with the listings team.
- Programme
- VIP · MM · MM+ · Liquidity Provider
- Headline maker rebate
- Up to -0.005% spot / -0.010% futures
- Min. monthly volume
- USD 50M+ to enter MM
- Core KPIs
- Spread · Depth · Uptime · Volume share
VIP vs MM vs MM+
VIP tiers are volume-based and open to any account. MM is application-only and unlocks negative maker fees in exchange for quoting commitments on assigned pairs. MM+ layers in custom rebates for firms whose flow materially improves book quality on long-tail pairs.
What Binance actually measures
Time-weighted spread inside a target band, bid/ask depth at ±50bps and ±200bps, two-sided uptime, and the firm's share of maker volume on the pair. Miss the band for more than a few minutes a day and the rebate tier drops automatically.
How issuers get on the panel
Token issuers don't apply to MM+ directly — their market maker does. We help issuers structure the panel, the term sheet and the KPI matrix so the MM has both the inventory and the incentive to qualify for MM+ on the issuer's pair from week one.
Can a small-cap token get MM+ treatment on Binance?
Yes — MM+ is pair-specific. A serious MM with a credible quoting plan can negotiate MM+ economics on a new listing even when the token's float is modest. The constraint is the MM's overall standing, not the token's market cap.
Do MM rebates apply to both spot and futures?
They are negotiated separately. Most firms run a combined desk but the rebate schedule, KPIs, and minimum volume thresholds are tracked per venue type.
Live decision on the table?
Panel design, term-sheet review, KPI matrix, or a venue rebate negotiation — direct partner time, no pitch deck.