How Crypto Exchange Referral Codes Work
A referral code is a string you enter when you register that permanently links your new account to whoever referred you. The exchange pays that referrer a share of the trading fees you generate, and the referrer can pass part of it back to you as a rebate. The percentages in the table above are the share Coinperps passes back.
Two mechanics matter more than the headline number. First, a rebate is calculated on the fees you actually pay, so promotional zero-fee pairs return nothing. Second, almost every exchange on this page binds the referral at the moment the account is created and offers no way to attach one afterwards, which means the code has to be in place before you finish registering.
Welcome bonuses are a separate thing from the rebate, and they are almost never a single credit. Exchanges release them against tasks: identity verification, a first deposit above a threshold, a first trade above a threshold. The advertised total is the sum of every task, and most of it sits behind trading volume you may not reach.
How to Choose Between These Codes
The largest rebate is not automatically the best deal. A 20% rebate on an expensive fee schedule can cost more than a 4% rebate on a cheap one, so read the rebate and the underlying maker/taker fees together. Each deal page shows both.
What you trade matters as much as what you pay. If you run a maker-heavy strategy, a venue with free maker orders beats a bigger rebate. If you need deep books on major perpetuals, liquidity is worth more than a few basis points. If you are subject to strict regulation, the venue’s licensing decides the question before fees enter into it.
Check eligibility before you count on anything. Several of these programmes exclude entire countries, welcome bonuses are unavailable in more places than the exchanges themselves are, and a rebate can be time-limited or capped by volume. The conditions are listed in full on each deal page.