Fees & Rebates
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.
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% | ๏ปฟ |
K increase | decreased slippage | up to 100% | ๏ปฟ |
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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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