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Perps trading fees are tiered by an account’s trailing 30-day trading volume. Higher-volume accounts pay lower taker fees, and the top tier earns a maker rebate instead of paying a maker fee.

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Fee Calculation

For each fill, the fee is calculated on the notional value of the trade:
Fees are denominated in the instrument’s quote asset (pUSD). The rate applied to a fill is set by the account’s current volume tier. New accounts start at the $0 tier and move up as trailing 30-day volume crosses each threshold. Fee tiers are re-evaluated every UTC day. A negative maker fee is a rebate: the maker receives the rebate amount, and the fee recipient’s internal ledger is debited by the same amount.
A subset of accounts created during the Perps beta are temporarily on the top-tier fee schedule regardless of trailing 30-day volume. Standard volume-based tiering applies to these accounts once the transition period ends.
If you’re integrating Perps, read the current fee schedule from Trading Fees.

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Fee Metrics

Trailing 7-day activity metrics are available for visibility. They are a rolling view of recent activity and do not, on their own, determine the volume tier used to set fees. These metrics are cached by UTC day and may be stale by up to 24 hours. If you’re integrating Perps, read account metrics from Account Stats.

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Fee Accounting

Every fill’s fee flows through a single fee-recipient account on the internal ledger:
  • Taker fees credit the recipient.
  • Maker fees credit the recipient at every tier where the maker rate is non-negative.
  • At the top tier the maker rate is a rebate, so it debits the recipient and credits the maker.