Spot Rebates and Metrics

Liquidity Providers that have signed the ErisX Liquidity Provider Agreement are eligible for rebates according to their score at the end of the calendar month. Metrics are based upon a set of requirements per contract.

Minimum Quote Size
BTC
ETH
BCH
LTC
ETH/BTC
BCH/BTC
LTC/BTC
1
20
20
50
20
20
50

Metric 1 – Total Quoting Time

On a monthly basis the total amount of time a Market Maker had a quote working equal or greater than the minimum size will be captured. A valid quote will be one where a bid and an offer are working and both have a size of at least the minimum quote size specified above.

 

Metric 2 – Spread

For all eligible quotes a market maker enters into the market, the average spread of the tightest qualifying quote in bps will be computed. From this average spread a multiplier will be applied to metric 1 based upon the table below.

Avg Spread
BTC Multiplier
ETH and ETH/BTC Multiplier
BCH, LTC and BCH/BTC Multiplier
LTC/BTC Multiplier
<= 4 bps
3
3
3
3
<= 7 bps
2
3
3
3
<= 10 bps
1
3
3
3
<= 20 bps
0
3
3
3
<= 25 bps
0
2
3
3
<= 30 bps
0
1
2
3
<= 35 bps
0
0
1
3
<= 45 bps
0
0
0
3
<= 50 bps
0
0
0
2
<= 55 bps
0
0
0
1
<= 60 bps
0
0
0
0

Rebate Formula

The total quoting time will be multiplied using the value in the spread table to calculate the total eligible rebate due to a market maker.

 

Rebate (%) = Total Quoting Time (%) * Multiplier

Futures Rebates and Metrics

We’re offering liquidity provider programs to support trading of the ErisX Futures contracts. Please contact [email protected] for more information.