Trading fees on Drift are calculated on a per trade basis and is based on the filled notional position size.
Trading fees are calculated in the market's quote asset (in 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 ).
Drift Protocol has a tiered fee structure for all futures markets based on an on-chain calculation of 30-Day Volume*. This document outlines the base trading fees for the different order types on Drift.
The Fee Schedule will be published closer to Drift v2 launch.
Market Orders are first passed through the JIT Auction process and then to the DAMM if no Makers step in.
Market Orders incur a fixed fee which is calculated as a % 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.
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 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.
*Volume is tracked for both maker and taker volume individually. The calculation uses an aggregate rolling sum estimate across all the user's subaccounts