Fees

Fees are charged by the matching engine per fill. Spot fees use parts per million (ppm) of notional; prediction fees use the price-dependent formula below. 100 ppm = 1 basis point = 0.01 %. The schedule is engine state: it is applied deterministically in replay and cannot be changed by editing configuration.

Live verification: v2

On 2026-09-14 the feeSchedule object on the authenticated account route (GET /api/v1/accounts/{account}) reported tier 0 "Standard" with spotMakerPpm: 0, spotTakerPpm: 800, mintRedeemPpm: 100 and predictionRatePpm: 40000; an earlier read of GET /api/v1/fees/standing reported the same rates as scheduleVersion: "v2". This is evidence for the observed account, not a promise of identical terms for every account or market. Read your own fee schedule, the current market terms, and the actual fill fees. Do not infer your fees from a historical example or assume a launchpad market uses the ordinary spot rate.

Activation was a sequenced engine action, not an environment switch. Fills executed before the activation carry the fee that applied at the time in their own feeMicro; read it from the fill instead of recomputing it from this page.

Live schedule (v2)

One table per product family. Tiers are assigned by a sequenced daily action from the account's trailing 30-day volume; the tier and its four rates are readable at any time as feeSchedule on GET /api/v1/accounts/{account}.

Tier	30-day volume	Spot taker	Spot maker	Mint / redeem	Prediction / binary rate	Launchpad protocol-share discount
0	≤ $100k	800 ppm (8 bps)	0	100 ppm (1 bp)	40 000 ppm (4.0 %)	0
1	> $100k	700 ppm	0	80 ppm	35 000 ppm (3.5 %)	0
2	> $1M	600 ppm	0	60 ppm	30 000 ppm (3.0 %)	10 %
3	> $10M	500 ppm	0	40 ppm	25 000 ppm (2.5 %)	20 %
4	> $50M	400 ppm	0	30 ppm	20 000 ppm (2.0 %)	30 %
5	> $250M	300 ppm	0	20 ppm	15 000 ppm (1.5 %)	30 %
DMM	granted, not earned by volume	200 ppm	0	10 ppm	10 000 ppm (1.0 %)	30 %

• Makers pay nothing in every tier (spotMakerPpm: 0). Liquidity is rewarded from a rebate pool funded by taker fees and settled from closed daily epochs, never by charging the maker. A spot round trip at tier 0 therefore costs a taker 8 bps and a maker nothing.
• Prediction and binary markets are charged rate × p × (1 − p) per contract, where p is the contract price in USDC (0 to 1). The fee is largest for a 50 ¢ contract — 1.00 ¢ per contract at tier 0 (4 % × 0.5 × 0.5) — and falls toward zero as the price approaches 0 or 1. Only the taker pays it. On a YES/NO fill the maker is charged 0 under v2; p is the fill price, which is the resting maker's price. The result is rounded down to whole micro-USDC and is 0 at p = 0 and p = 1.
• Fee buffer on outcome bids. A new YES/NO bid can execute as a taker on arrival, so its admission check reserves a worst-case taker fee on top of price × qty: the formula at the tier-0 rate, evaluated at the bid price or at 0.50, whichever is lower. A bid that only ever fills as a maker is still charged 0; budget the buffer when sizing bids against free USDC. Asks on YES/NO books sell shares and reserve no USDC fee.
• Mint / redeem (splitting 1 USDC into 1 YES + 1 NO, or merging a complete set back into USDC) is charged mintRedeemPpm of the collateral amount: 100 ppm (1 bp) at tier 0, on the same 30-day tier ladder as trading.
• Launchpad markets carry the deployer's own taker fee, chosen inside a 30–300 bps band at submission (default 150 bps) and bound into the launch signature. The tier discount applies to the protocol's share only, so the creator's share is the same for every taker.

Other charges

Charge	Amount	Where
Withdrawal executor fee	10 bps of the claim (capped at 100 bps), only when the venue's executor finalizes for you; self-execution pays no fee	MultiCollateralVault
Prediction-market resolution fee	1.5 % of the winning-side payout, paid to the final resolver	Resolvement
Prediction-market resolution bond	max(250 USDC, 1 % of the market size), capped at 10,000 USDC; escrowed from the resolver's free engine USDC when the case is accepted, refunded to a correct resolver, slashed otherwise	Resolvement
Launchpad submission	10,000 USDC, non-refundable after minting	Launchpad
Gas	Arbitrum One gas for deposits, vault withdrawal requests and self-executed claims	on-chain

What clients should expose

• estimated fee before submission from the account's current tier,
• executed fee on every fill (feeMicro on the execution stream, FIX Commission(12) with CommType(13)=3, FIXP feeMicros),
• maker/taker classification,
• the applied schedule version and tier from the account bootstrap, and the four live rates from the account's feeSchedule (spotMakerPpm, spotTakerPpm, mintRedeemPpm, predictionRatePpm),
• a clear separation between venue fees and gas.