💰Trading Fees

Trading fees implementation and structure

We take fees for every order placed in the system (open or closed.) Parameters that are taken into consideration are:

• Order type (Open, Close)

• Order execution (Taker, Maker)

• Min Volume in collateral

• Max Volume in collateral

• Fee taken (percent)

Fees for the order are defined based on the following structure. Fees are defined separately for every collateral. We need to make sure that in some cases (like forced system-wide deleverage we do not take fees.)

Maker orders are orders that do not immediately fill and rest on the order book — these orders add depth and liquidity to the order book.

Taker orders are orders that immediately matched (filled) with existing Maker orders. They remove liquidity from the order book.

Volume is calculated (and tier is set per monetary account) every 24 hours and is defined as traded volume for the last 30 days.

For USDC collateral:

Order type	Order execution	Min volume (≥) (equal or greater than, in collateral)	Max volume (<) (less then, in collateral)	Fee ( % )
Open	Maker	0	1 000 000	0.100%
Open	Maker	1 000 000	5 000 000	0.050%
Open	Maker	5 000 000	10 000 000	0.020%
Open	Maker	10 000 000	50 000 000	0.010%
Open	Maker	50 000 000	∞	0.000%
Close	Maker	0	1 000 000	0.100%
Close	Maker	1 000 000	5 000 000	0.050%
Close	Maker	5 000 000	10 000 000	0.020%
Close	Maker	10 000 000	50 000 000	0.010%
Close	Maker	50 000 000	∞	0.000%
Open	Taker	0	1 000 000	0.10%
Open	Taker	1 000 000	5 000 000	0.080%
Open	Taker	5 000 000	10 000 000	0.050%
Open	Taker	10 000 000	50 000 000	0.040%
Open	Taker	50 000 000	200 000 000	0.020%
Open	Taker	200 000 000	∞	0.020%
Close	Taker	0	1 000 000	0.10%
Close	Taker	1 000 000	5 000 000	0.080%
Close	Taker	5 000 000	10 000 000	0.050%
Close	Taker	10 000 000	50 000 000	0.040%
Close	Taker	50 000 000	200 000 000	0.020%
Close	Taker	200 000 000	∞	0.020%