📈 Trading
Trading Fees

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, a borrow for USDC will only appear upon someone settling that perp position's 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 or Insurance Fund Stake*.

Fee Structures

Some markets can have discounted or increased fees See Fee-Adjusted Markets

Perp Market Fees

TierMaker FeeTaker FeeReferree Taker DiscountReferrer RewardFiller Reward
1-1 bps10 bps5%15%10%
2-1 bps9 bps5%15%10%
3-1 bps8 bps5%15%10%
4-1 bps7 bps5%15%10%
5-1 bps6 bps5%15%10%
VIP-1 bps3 bps5%15%10%

Spot Market Fees

TierMaker FeeTaker FeeReferree Taker DiscountReferrer RewardFiller Reward
1-2 bps5 bps0%0%10%

Fee Tiers

To qualify for a fee tier you only need to hit one of the cut-offs, not ALL of them. E.g. just meeting the minimum volume quota will qualify you, without needing the Insurance Fund Stake as well.

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

TierRequired USDC Insurance Fund Staked AmountRequired 30D Volume

Fee-Adjusted Markets

These markets have a flat adjustment to all fees

Perp Markets

MarketFee Adjustment
SOL-PERP-75% (discount)
BTC-PERP-75% (discount)
ETH-PERP-75% (discount)
W-PERP+100% (premium)

Spot Markets

MarketFee Adjustment
JTO+100% (premium)
WIF+100% (premium)
JUP+100% (premium)

Taker Fees

Takers are charged a variable Taker Fee depending on which Tier they belong to. (See PERP/SPOT Fee Structures)

Maker Fees

Makers are provided with a flat 1bps rebate regardless of the Taker Fee paid.

Referee Discount / Referer Reward

These apply to accounts that were signed up using a referred account. These percentages are applied to the effective taker fee paid.

Filler Reward

Filler rewards are variable but up to 10% of the effective taker fee paid by the user. See Keeper Incentives.

Spot Fees

Spot Fees are set per market. Most major markets have 5 bps taker and 1bps rebate for maker.

Fee Adjustments

Longer tail assets can have increased fees to stay in line with external markets fee schedules. Some markets will periodically have flat discounts applied to all fee tiers. See Fee-Adjusted Markets


Drift Protocol reserves the right to end the promotional period and the Taker Incentive Program at any time. If the Drift Protocol chooses to do so, it will provide notice to participating users, but such notice is not required in order to conclude the program early or extend the program. Please note that the terms and conditions of this program are subject to change without notice.

There are risks associated with Insurance Fund Staking. Read more about the Insurance Fund Staking and Risks).**