Fees are assessed on every fill and settled immediately in USDC. Your tier is based on rolling 14-day weighted volume across perps and spot markets.
Base schedule
| Market | Maker | Taker |
|---|---|---|
| Perpetuals | 0.015% | 0.045% |
| Spot | 0.040% | 0.070% |
Spot volume counts double toward the perp tier. Sub-account volume counts toward the master account. Vault volume is tracked separately.
Perpetual tiers
| Tier | 14d weighted volume | Maker | Taker |
|---|---|---|---|
| 0 | < 5M | 0.015% | 0.045% |
| 1 | ≥ 5M | 0.012% | 0.040% |
| 2 | ≥ 25M | 0.008% | 0.035% |
| 3 | ≥ 100M | 0.004% | 0.030% |
| 4 | ≥ 500M | 0.000% | 0.028% |
| 5 | ≥ 2B | 0.000% | 0.026% |
| 6 | ≥ 7B | 0.000% | 0.024% |
Staking discounts
Staking NXW reduces both maker and taker fees. The discount applies to the fee after the volume tier.
| Staked NXW | Discount |
|---|---|
| 1,000 | 10% |
| 10,000 | 20% |
| 100,000 | 30% |
| 1,000,000 | 40% |
Staking discounts are applied automatically. You do not need to claim or activate them. See staking.
Referrals and builder codes
- Referral rewards: referrers earn 10% of the referee's fees for the first $1B of volume.
- Builder codes: integrators can attach a builder fee of up to 0.03% per fill. The fee is disclosed before the user signs.
- Maker rebates: negative maker fees are paid continuously on each fill, not at the end of the day.
Fee formula
fee = notional × rate × (1 - staking_discount) + builder_fee
For a maker fill, a negative rate produces a rebate. Builder fees are always positive and are charged in addition to the protocol fee.
Example
A trader with 30,000 NXW staked and $40M of 14-day volume places a 100,000 USDC taker order:
base taker rate = 0.035% (tier 2)
staking discount = 20%
effective rate = 0.028%
protocol fee = 28.00 USDC
builder fee (0.01%) = 10.00 USDC
total fee = 38.00 USDCFee history
The userFees info endpoint returns the current tier, 14-day volume, maker/taker rates, and the next tier threshold. Fees are also included in userFills and in the daily portfolio summary.