💰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 typeOrder executionMin 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%

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