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Fees & Rebates

Fees

Drift currently charges a 10bps taker fee per trade (for all order types). 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

Taker

0.1% (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.

See Orders FAQ for more details on how fees for limits/advanced orders work.

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 temporarily. Drift protocol mandates this temporary liquidity withholding to be used 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 11 Mar 2022
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