Fee Structure

Fees decrease with increased trading volume, calculated over a rolling 30-day period. The greater the user's trading volume, the lower the fees applied to subsequent trades.

30-Day Volume (USD)	Maker Fee (bps)	Taker Fee (bps)
$0 - $10,000	25 bps	40 bps
$10,001 - $50,000	20 bps	35 bps
$50,001 - $100,000	14 bps	24 bps
$100,001 - $250,000	12 bps	22 bps
$250,001 - $500,000	10 bps	20 bps
$500,001 - $1,000,000	8 bps	18 bps
$1,000,001 - $2,500,000	6 bps	16 bps
$2,500,001 - $5,000,000	4 bps	14 bps
$5,000,001 - $10,000,000	2 bps	12 bps
$10,000,000+	0 bps	10 bps

Fee Structure Explained

All fees are charged and settled in the quote asset. For example, in the ETH/USDC trading pair, the base asset is ETH, and all trading fees are paid in USDC (the quote asset).

All user trading volumes are tracked directly in the smart contract.

Example Calculation:

If a user trades $20,000 USD in volume over the last 30 days, they fall into the second tier.

• Maker fee: 20 bps

• Taker fee: 35 bps

For a trade of 5 ETH at $10,000 per ETH (totaling $50,000 USD):

• Maker fee = $50,000 * 20 bps = $100 USDC

• Taker fee = $50,000 * 35 bps = $175 USDC

Maker and Taker Fees:

• Maker: A maker fee is applied when an existing order in the order book is matched by a newer order.

• Taker: A taker fee is applied when a new order matches an existing one, thus "taking" liquidity from the order book.

Example:

Assume the following trade:

• Order A is placed to buy 10 ETH at $10,000/ETH and sits in the order book.

• Order B is placed later to sell 10 ETH at $10,000/ETH, matching Order A.

Order A pays the maker fee since it was already in the book. Order B pays the taker fee for removing liquidity by matching Order A.

Matcher Fee:

A matcher fee is applied on every trade to cover the cost of processing and matching the order. This fee is always charged in the quote asset and is currently set at $0.001 USDC. However, the matcher fee may be adjusted in response to fluctuations in network gas prices on the Fuel network.

Any user can submit orders to be matched by the smart contract. The matching fee is given to the user that found two or more orders that can be matched by the smart contract.

Order Cancellation:

If a trader cancels an order that has not been matched, no fees are applied.