Drift Protocol v2

โŒ˜K
๐Ÿ‘พWelcome to Drift Protocol
๐ŸงฎDrift DEX
๐Ÿ‘‹Getting Started
๐Ÿ“ˆPerpetual Futures
๐Ÿ“ŠSpot Margin Trading
๐ŸฆBorrow & Lend
๐Ÿ›๏ธStaking
๐Ÿ”ฌTechnical Explanations
๐Ÿ“Accounting and Settlement
โž—Borrow Interest Rate
๐Ÿ“œDelisting Process
โ›ฒDrift AMM
๐ŸƒJust-In-Time (JIT) Auctions
๐Ÿ“šKeepers & Decentralised Orderbook
โ˜ ๏ธLiquidators
๐Ÿ’งLiquidity Providers (LPs)
๐Ÿ“‹Protocol Guard Rails
๐Ÿ“Risks
๐Ÿ–ฅ๏ธDeveloper Resources
๐Ÿ“”Overview
โŒจ๏ธSDK Documentation
โŒจ๏ธTutorial: Bots
โš ๏ธTroubleshooting
๐Ÿ› ๏ธKeeper Bots
๐Ÿ› ๏ธTrading Bots
โŒจ๏ธHistorical Data (v1)
โŒจ๏ธAPI
๐Ÿ›ก๏ธSecurity
๐Ÿ›ก๏ธAudits
๐Ÿ›ก๏ธBug Bounty
โš–๏ธLegal and Regulations
๐Ÿ“Terms of Use
๐Ÿ“Disclaimer
๐Ÿ“Privacy Policy
๐Ÿ“Competition Terms and Conditions
๐Ÿ“šGlossary
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5min

Trading Fees

Trading fees on Drift are calculated on a per-trade basis and are based on the filled notional position size.

Trading fees are calculated in the market's quote asset (USDC) and show up in Perpetual Markets as a penalty on the cost basis of position. In the circumstance where a user only holds non-USDC assets on Drift, no outstanding borrow for USDC will appear until someone else settles their loss (see P&L).

Drift Protocol has a tiered fee structure for all futures markets based on an on-chain calculation of 30-Day Volume*. This document outlines how trading fees for the different order types on Drift are charged. Please visit the Fee Schedule to see the base fees.

Market Orders

Market Orders are first passed through the JIT Auction process and then to the DAMM if no makers step in.

๏ปฟMarket Orders incur a fixed fee which is calculated as a percentage of the notional order size. If the Market Order is partially filled, the user will only pay trading fees for the size of the order that was partially filled.

Limit Orders

Taker Limit Orders

Taker Limit Orders are conditional limit orders that are filled via the DAMM.

Takers pay a fixed trading fee.

Keepers that fill the order receive up to 10% of this trading fee.

Maker (Post-Only) Limit Orders

Maker Limit Orders are post-only limit orders that provide liquidity to the exchange (as opposed to taking available liquidity).

Maker Orders must be specified as post-only before placing the order.

๏ปฟ*Maker/Taker 30-Day Volume is tracked ๏ปฟon-chain๏ปฟ. The calculation uses an aggregate rolling sum estimate across all the user's subaccounts.๏ปฟ

Updated 18 Nov 2022
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Standard Fee Schedule
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TABLE OF CONTENTS
Market Orders
Limit Orders
Taker Limit Orders
Maker (Post-Only) Limit Orders