Key Concepts
- Taker: A trader who places an order that is immediately matched with an existing order in the order book, thus "taking" liquidity from the market.
- Maker: A trader who places an order that adds liquidity to the market, waiting for another trader to match it.
1. Summary
This document defines all fees for the decentralized perpetual futures exchange.
2. Fee Categories
Trading Fees
| Fee | Description | Recipients |
|---|
| Open Position Fee | Charged when opening a new position | ... |
| Close Position Fee | Charged when closing a position | ... |
| Order Cancellation Fee | Charged when cancelling a limit order | ... |
| Liquidation Fee | Charged when a position is liquidated | .... |
Funding Fees
| Fee | Description | Recipients |
|---|
| Funding Payment | Periodic payment between longs and shorts | Paid to counterparty |
| Funding Interval | Time between funding payments | XX hours |
Vault Fees
| Fee | Description | Recipients |
|---|
| Creation Fee | Charged when creating a new vault | Protocol: 5USDC |
| Deposit Fee | Charged when depositing to a vault | ... |
| Withdrawal Fee | Charged when withdrawing from a vault | ... |
| Performance Fee | Charged on vault profits | ... |
| Management Fee | Annual fee on vault AUM | ... |
Network Fees
| Fee | Description | Recipients |
|---|
| Gas Fee | Solana transaction fee | Validators |
3. Prototype Fees (Simple)
For the prototype, fees are flat rates:
Trading Fees
Vault Fees
| Type | Fee |
|---|
| Creation | 5 USDC |
| Deposit | XX% |
| Withdrawal | XX% |
| Performance | XX% |
| Management | XX% |
Network Fees
| Type | Fee |
|---|
| Gas | Solana transaction fee |
4. Future Fee Tiers (Volume-Based)
After Prototype, fees will be tiered based on 14-day weighted trading volume.
Tiers
| Tier | 14d Volume |
|---|
| Bronze | > $0 |
| Silver | > $150k |
| Gold | > $... |
| Platinum | > $... |
| Diamond | > $... |