Trading
Fees
Taker 5 bps, maker rebates, settlement and liquidation fees.
Trading fees
Maker0–2 bps
Free at base, rebates at higher tiers
Taker5 bps
Flat, no volume discounts
Settlement3 bps
At game conclusion
Liquidation5 bps
On liquidated notional
Fee distribution
20%
Insurance Fund
55%
Protocol Treasury
25%
Liquidity Incentives
Taker fees are flat — takers extract liquidity and should pay for it. Makers trade free or earn rebates. See LP Incentives for details.
Related
- LP Incentives — contrarian rebates up to −3 bps
- Risk Management — where the insurance fund flows
- Fee Buffer — how fees protect the vault