BIT will charge a forced liquidation fee of 0.5% of the order value for forced-liquidated orders (applicable to spot/margin/futures/perpetual/options) on BIT. After deduction of trading fees, the rest forced liquidation fees will be automatically allocated into the BIT insurance fund.
For example, if a liquidation order is filled as a taker order, 0.45% of the order value will be allocated into the insurance fund and 0.05% of the order value will be charged as a regular taker fee, which adds up to a total liquidation fee of 0.5% of the order value.