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Trading fees depend on whether an execution adds or removes liquidity and on the fee policy that applies to the account and market.

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Makers and takers

A resting limit order provides liquidity and pays the applicable maker fee when it fills. An incoming order that executes against available liquidity is taker flow. A limit order can do both: part may trade immediately as a taker, while the remaining amount rests and later fills as a maker. A post-only order is intended to provide liquidity only.

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Published fee schedule

One basis point is 0.01%. The threshold signs above follow the supplied schedule; read the account’s assigned tier rather than inferring it solely from a locally calculated volume. The current mainnet deployment has 1 bp maker and 2 bps taker defaults, matching tier 0. Its 100 bp market fields are caps, not the normal charge. For example, on a 250 USDC trade, tier 0 costs 0.05 USDC as a taker or 0.025 USDC as a maker before token-unit rounding. At tier 1, the same notional costs 0.035 USDC as a taker or 0.01875 USDC as a maker. These calculations illustrate the schedule, not a live quote. Actual charges use the effective account and market rates and the token’s smallest units. The user fee-tier API reports the latest indexed account assignment; it does not calculate market caps, referral discounts, or builder fees. Direct contract integrations can read effectiveSpotMakerFeePps and effectiveSpotTakerFeePps for the account and market.

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Buy and sell accounting

Protocol trading fees are charged in the quote asset. For a WETH/USDC buy, allow for the USDC price of the purchase and the applicable protocol fee. For a sell, the protocol fee reduces the USDC proceeds. Resting buy orders reserve maker-fee headroom along with the purchase amount. Canceling the unfilled remainder releases its remaining reservation; it does not refund fees on trades already executed.

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Application fees

An application may request an additional builder fee within an approval granted by the account owner. This is separate from the protocol’s maker or taker fee. On a buy, a builder fee is charged from the base-asset output; on a sell, it is charged from quote proceeds. Review both charges when comparing the amount spent with the amount received.

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For integrators

Use effective fee reads rather than assuming the deployment rate is the account’s final rate. Maker fees are recorded per active fill; taker and builder fee rounding follows execution-match boundaries. See AccountCore for fee policy and OrderBook indexing for exact reconstruction.