3min

Fees & Rebates

Trading Costs

Drift Protocol currently charges 10bps per taker trade (any order where the POST flag is not explicitly set). The fees are calculated on a per trade basis based on notional position size and calculated in the quote asset (USDC), and are taken directly from a user's collateral account.

Fee

Amount

Details

Maker

-0.05%*

variable rebate > 0, up to 5 bps

Taker

0.10%

10 bps

As an example, if a user takes a notional $10,000 USD position in Drift's SOL-PERP, the trade fee is 0.1% * $10,000 = $10. If a user posts a maker order (limit order + POST flag) for $10,000 USD position, the trade rebate is up to .05% *$10,000 = $5.

See Perpetual Order Types for more details on how fees for limits/advanced orders work.

Position Holder Rebates

Funding payments, repegs, k increases can implicitly issue rebates from the collective fee pool back to position holders. (See Glossary for help understand these terms)

Event

Rebate Amount

Fee Pool Allocation

Details

Funding

baseAssetAmount * fundingRate

up to 50%

capped to 2/3 of remaining pool per interval

Repeg

baseAssetAmount * ฮ” exit price

up to 50%

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K increase

decreased slippage

up to 100%

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In the event of a market failure, when arbitrage trading demand is not enough to push prices to the oracle, k may be lowered. Drift protocol mandates this temporary liquidity withholding to be used as a rebate at later time for market's position holders, ensuring the eventually rebating of position holders.

Event

Temporary Withholding Amount

Fees Pool Limit

Details

K decrease

increased slippage

N/A

max of 2.5% scale reduction per event

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Updated 04 May 2022
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