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Liquid’s fee depends on the market and on your rolling 14-day trading volume. The order ticket shows the total before you confirm.

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How fee tiers work

  • Fees are based on your account’s rolling 14 day trading volume.
  • Fees are assessed at the end of each day (UTC).
  • Maker rebates are paid out continuously on each trade directly to your wallet.
  • Liquid uses separate fee schedules for perps and spot trading.
  • Perps and spot volume are counted together to determine your fee tier.
  • Spot volume counts double toward your fee tier:
14-day weighted volume=14-day perps volume+2×14-day spot volume\text{14-day weighted volume} = \text{14-day perps volume} + 2 \times \text{14-day spot volume}
  • Your exact current rate is shown on the fee screen in the app.

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Perps

Liquid charges a 5 bps (0.05%) base fee on every perps fill: market, limit, trigger, and close. It is already included in the rates below, so the table is what you actually pay. Stocks, commodities and other builder-deployed perps use their own tiered schedule, plus the same 5 bps. Perps fee tiers:

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Spot

On spot you buy the underlying asset, and Liquid adds no fee of its own. You pay the tiered rate below. Spot fee tiers:

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Prediction markets

Liquid charges a 0.90% fee on prediction markets, on both buys and sells, paid in USDC. Opening a position is not free. If you joined with a referral code, you pay 0.81%.

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Discounts

A referral code gives you 10% off Liquid’s fee on eligible fees:
  • Perps: the 5 bps base fee becomes 4.5 bps, so every rate in the perps table above drops by 0.005 percentage points (at tier 0, 0.095% taker becomes 0.0945%).
  • Prediction markets: 0.90% becomes 0.81%.
The discount doesn’t apply to spot, where Liquid charges no fee of its own, or to funding.
  • Some affiliates offer their own discount. It replaces the referral discount; only one applies.
  • Some accounts get the discount back as a claimable rebate instead of at order time. The app shows which applies to you.
  • You can only enter a code at sign-up, it can’t be your own, and only if you don’t already have a referrer.
See Referral bonuses for what referrers earn.

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Other costs

  • Funding is not a fee. Traders pay it to each other, and Liquid doesn’t collect it. See Funding rates.
  • Withdrawals to Arbitrum cost a $1 network fee. See Withdraw.
  • Card and payment providers can charge their own fees on deposits. The provider shows them before you pay.
Some older markets are close-only: you can’t open a new position, but you can still close what you hold. Closing those is free.