How Much Does a Referral Code Really Save? Fee Savings at $10k, $100k and $1M a Month
By Alex Wu · Published
"20% off trading fees" sounds good, but 20% of what? For a casual trader it may be a few dollars a year. For an active futures trader it can be more than a month's rent. We worked out the real savings for all 21 exchanges on TradeSavings at three trading volumes, using each exchange's base fees and the discount its code gives.
Data checked: November 2026. Fees are base-tier taker rates (no VIP level, no token discount).
The short version
- At $100,000 a month of futures, a code saves about $144 a year on the typical exchange.
- At $1 million a month, savings run into thousands. On Weex it is $1,920 a year.
- Cheaper exchanges save less in dollars. On MEXC the futures taker fee is only 0.02%, so 20% off is worth less in cash, even though the total cost is still the lowest.
- The saving is the same effort at every size: you type a code once at sign-up.
Futures: yearly savings by monthly volume
Yearly saving = monthly volume × taker fee × code discount × 12.
| Exchange | Code | Futures taker | Code discount | $10k / month | $100k / month | $1M / month |
|---|---|---|---|---|---|---|
| Weex | `gfek` | 0.08% | 20% | $19.20 | $192 | $1,920 |
| Bitget | `TSAVINGS` | 0.06% | 20% | $14.40 | $144 | $1,440 |
| KuCoin | `rMDYQZ5` | 0.06% | 20% | $14.40 | $144 | $1,440 |
| Phemex | `FFYVG9` | 0.06% | 20% | $14.40 | $144 | $1,440 |
| BloFin | `TSAVINGS` | 0.06% | 20% | $14.40 | $144 | $1,440 |
| OurBit | `LD3C2N` | 0.06% | 20% | $14.40 | $144 | $1,440 |
| Crypto.com | `2qmq7tsbt4` | 0.06% | 20% | $14.40 | $144 | $1,440 |
| CoinW | `3497957` | 0.06% | 20% | $14.40 | $144 | $1,440 |
| Toobit | `6fRmWR` | 0.06% | 20% | $14.40 | $144 | $1,440 |
| LBank | `4WFCB` | 0.06% | 20% | $14.40 | $144 | $1,440 |
| Coinstore | `LEVQKz` | 0.06% | 20% | $14.40 | $144 | $1,440 |
| Bitunix | `TSAVINGS` | 0.06% | 20% | $14.40 | $144 | $1,440 |
| Bybit | `93065` | 0.055% | 20% | $13.20 | $132 | $1,320 |
| Binance | `K6O8CPLG` | 0.05% | 20% | $12 | $120 | $1,200 |
| OKX | `TSAVINGS` | 0.05% | 20% | $12 | $120 | $1,200 |
| BingX | `FM9ROY` | 0.05% | 20% | $12 | $120 | $1,200 |
| HTX | `p55577` | 0.05% | 20% | $12 | $120 | $1,200 |
| Gate.io | `AlNHBFgJ` | 0.05% | 20% | $12 | $120 | $1,200 |
| WhiteBIT | `TSAVINGS` | 0.04% | 20% | $9.60 | $96 | $960 |
| MEXC | `1Ek3q` | 0.02% | 20% | $4.80 | $48 | $480 |
| Hyperliquid | `PERPLIST` | 0.045% | 4% | $2.16 | $21.60 | $216 |
Spot: yearly cost and saving at $100,000 a month
Spot fees are higher per trade than futures, so the discount is worth more on the same volume.
| Exchange | Spot taker | Yearly fees | Yearly saving with code |
|---|---|---|---|
| HTX | 0.2% | $2,400 | $480 |
| Binance | 0.1% | $1,200 | $240 |
| Bybit | 0.1% | $1,200 | $240 |
| OKX | 0.1% | $1,200 | $240 |
| Bitget | 0.1% | $1,200 | $240 |
| KuCoin | 0.1% | $1,200 | $240 |
| MEXC | 0.1% | $1,200 | $240 |
| BingX | 0.1% | $1,200 | $240 |
How to read these numbers
Volume means the total value of your trades, not your deposit. If you deposit $1,000 and trade it 10 times a day with 10x leverage, your monthly futures volume is about $3 million. Leveraged traders reach high volumes quickly, which is why the discount matters most to them.
Maker orders cut costs further. Limit orders that wait in the order book pay the maker fee, which is 0.02% or less on most exchanges. The code discount applies to maker fees too.
Savings stack with VIP tiers on most exchanges. As your volume grows you move to lower fee tiers; the referral discount usually continues on top. See our guide to fee tiers.
Forex brokers: rebates instead of discounts
Brokers don't discount spreads. Instead, partner programmes like Exness and RoboForex pay a rebate on the commission your trading earns the partner, credited daily. Our guide to forex rebates explains how that works, and the Ask box on each broker page works out an estimate for your own lot size.
How we collected the data
We used the base-tier spot and futures taker fees and the referral discount listed on each TradeSavings exchange page, which we check against the exchanges' own fee schedules. Savings are calculated as volume × taker fee × discount, without VIP tiers, token discounts, funding or spreads.
TradeSavings may earn a commission when you sign up with a code or link on this site, at no extra cost to you. Trading crypto, forex and CFDs, especially with leverage, carries a high risk of loss. This page is information, not financial advice.
Frequently asked questions
- How much does a crypto referral code save?
- Most codes on TradeSavings give up to 20% off trading fees. At $100,000 of futures volume a month that is about $144 a year on a typical exchange.
- Does a referral code lower maker and taker fees?
- Yes. On most exchanges the discount applies to both, on spot and futures.
- Is the discount worth it for small traders?
- At $10,000 a month the saving is usually under $20 a year, but it costs nothing, so there is no reason not to use it.
- Which exchange gives the biggest saving in dollars?
- Exchanges with higher base fees save the most in dollars. On our list that is Weex, because its futures taker fee is 0.08%.
- Do I need to do anything to keep the discount?
- No. Once the code is linked at sign-up, the discount is applied to your trades automatically.