Fee Structure
Last updated
Last updated
D8X applies three types of fees: trading fees, conditional order fees and liquidation fees. D8X offers white-label partners and traders options to reduce some of the fees by increasing their trade volume and by holding $D8X at the address involved in the trade.
Trading fees are implemented to maintain operations. The fees occur at every point of transaction when traders purchase or sell perpetual future contracts
Order execution fees are small fixed amounts that are paid to the order executor. This fee is set so that it slightly overcompensates the gas fees that the order executor pays to execute the order
Liquidation fees are fees that occur when a trader is liquidated. Liquidations require an additional fee, because they are executed through a third party that is remunerated for their liquidation service
Trading fees occur at every point of transaction when traders purchase or sell perpetual future contracts. D8X offers separate fee structures for API traders and white-label partners:
If traders directly interact with the exchange over the API, they pay according to the API traders' fee structure.
If traders interact with the exchange over a white-label partner, they pay according to their white-label partner's fee structure.
API trader fees depend on:
a trader's 30 day trading volume in the entire exchange
a trader's $D8X Balance
(**) $D8X balance relevant for the fee is the one in the trader's wallet that executes the trade at the moment the trade occurs.
Traders that trade over a white-label partner pay fees that depend on their white-label partner's fee structure. If the trader's token holdings and trade volume lead to a lower fee than the fee implied by the white-label partner's credentials, the trader pays the lower fee. On top of that, traders pay an additional white-label partner charge, if a white-label partner decides to levy such a charge.
White-label partner have a liquidity-pool-specific fee structure that depends on:
a white-label partner's trading volume per pool
a white-label partner's $D8X Balance
the number of liquidity lots a white-label partner bought per pool
(**) $D8X balance relevant for the fee is the one in the white-label partner's wallet that figures in the brokerage address of the executed trade at the moment the trade occurs.
(***) To become a white-label partner for perpetuals in a given liquidity pool p, white-label partner have to buy at least one liquidity lot for pool p, to be paid in collateral currency of the pool.
Lot payments are used by the protocol as protocol-owned liquidity for the pool. Typically lots are sized around $100, for example in the Testnet deployment the mockUSD-pool uses 100 tokens as the lot size, the pragMATIC pool 160 MATIC.
Orders are executed by a third part, once the AMM prices meet the order conditions. The executor earns a fee for their service, paid for by the trader.
Conditional orders fees are defined per perpetual and are in the order of 1-10 cents (USD) per trade, charged in collateral currency.
When a position needs to be liquidated, a liquidation fee is subtracted from the trader margin. The liquidation fee is 1% of the position size that is to be liquidated for digital assets, and 0.5% for forex.
Liquidation of positions with margins below the maintenance margin are executed by third parties, termed liquidators. To compensate the liquidator for his work, liquidators earn 50% of the total liquidation fee. The other 50% of the fee is going to the exchange.
| Tier | 30 Day USD Trade Volume (*) | and/or | $D8X Balance (**) | Fee |
|---|---|---|---|---|
(*) 30 Day volume of a trader at time t is computed as a function of the 30 Day Exponential Moving Average (EMA) of the trader's trade volume over the entire exchange: . The EMA implementation optimizes gas costs.
| Tier | 30 Day Trade Volume in liquidity pool (USD) | and/or | $D8X Balance (**) | and/or | # lots paid by partner (***) | Fee |
|---|---|---|---|---|---|---|
(*) 30 Day volume of a white-label partner at time t is computed as a function of the 30 Day Exponential Moving Average (EMA) of the trade volume executed over the white-label partner for perpetuals that share a given liquidity pool p: . The EMA implementation optimizes gas costs.
1
< 100,000 USD
and
< 36 $D8X
0.020%
2
≥ 100,000 USD
and
≥ 36 $D8X
0.016%
3
≥ 1,000,000 USD
and
≥ 360 $D8X
0.014%
4
≥ 5,000,000 USD
and
≥ 1800 $D8X
0.012%
5
≥ 10,000,000 USD
and
≥ 3600 $D8X
0.010%
6
≥ 25,000,000 USD
and
≥ 9000 $D8X
0.008%
7
≥ 50,000,000 USD
and
≥ 18000 $D8X
0.006%
8
≥ 100,000,000 USD
and
≥ 36000 $D8X
0.004%
9
≥ 200,000,000 USD
and
≥ 72000 $D8X
0.002%
10
≥ 300,000,000 USD
and
≥ 108000 $D8X
0%
1
≥ 0
and
≥ 0
and
≥ 0
0.024%
1
≥ 1,000,000
and
≥ 120
and
≥ 2
0.020%
2
≥ 10,000,000
and
≥ 1,200
and
≥ 6
0.016%
3
≥ 50,000,000
and
≥ 6,000
and
≥ 19
0.014%
4
≥ 100,000,000
and
≥ 12,000
and
≥ 44
0.012%
5
≥ 250,000,000
and
≥ 30,000
and
≥ 105
0.010%
6
≥ 500,000,000
and
≥ 60,000
and
≥ 226
0.008%
7
≥ 1,000,000,000
and
≥ 120,000
and
≥ 467
0.006%
8
≥ 2,000,000,000
and
≥ 240,000
and
≥ 948
0.004%
9
≥ 3,000,000,000
and
≥ 360,000
and
≥ 1669
0.002%
10
≥ 5,000,000,000
and
≥ 600,000
and
≥ 2870
0%
