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Random thought: If

were to adjust the spread on $ETHUSD from $0.05 to $0.01 would price swing less? Would people be more willing to trade the contract?

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and

I think that taker fees are probably the larger problem here:

help.ftx.com

Maker vs Taker fees

Nearly all cryptocurrency exchanges have higher taker fees than maker fees, but the spread can vary a lot. On one extreme, there's BitMEX, which charges 0.075% on takes but pays a 0.025% rebate ...

8:57 PM · Nov 30, 2019Twitter Web App

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and

They are indeed — esp on other alt contracts

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I mean, fwiw they did bring in the ETHZ19 taker fees down to the same as the perps, so they're partially cognizant of the effect of taker fee reduction of traded volume

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Nice explanation but I’m not sure retail give a f**k, so unlikely to solve the problem on most exchanges.