> ## Documentation Index
> Fetch the complete documentation index at: https://docs.liquid.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Fees

> Liquid's trading fees: tiered perps and spot schedules, prediction market fees, discounts, and other costs.

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

| Market | Fee | Referral discount applies? |
| - | - | - |
| Perps | Tiered, from 0.095% taker and 0.065% maker | Yes |
| Spot | Tiered, from 0.070% taker and 0.040% maker | No |
| Prediction markets | 0.90% on buys and sells | Yes |

## 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:

$$
\text{14-day weighted volume} = \text{14-day perps volume} + 2 \times \text{14-day spot volume}
$$

* Your exact current rate is shown on the fee screen in the app.

## 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:

| Tier | 14-day weighted volume (\$) | Taker | Maker |
| - | - | - | - |
| 0 | | 0.095% | 0.065% |
| 1 | > 5M | 0.090% | 0.062% |
| 2 | > 25M | 0.085% | 0.058% |
| 3 | > 100M | 0.080% | 0.054% |
| 4 | > 500M | 0.078% | 0.050% |
| 5 | > 2B | 0.076% | 0.050% |
| 6 | > 7B | 0.074% | 0.050% |

## 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:

| Tier | 14-day weighted volume (\$) | Taker | Maker |
| - | - | - | - |
| 0 | | 0.070% | 0.040% |
| 1 | > 5M | 0.060% | 0.030% |
| 2 | > 25M | 0.050% | 0.020% |
| 3 | > 100M | 0.040% | 0.010% |
| 4 | > 500M | 0.035% | 0.000% |
| 5 | > 2B | 0.030% | 0.000% |
| 6 | > 7B | 0.025% | 0.000% |

## 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%.

## 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](https://docs.liquid.trade/referrals/referral-bonuses.md) for what referrers earn.

## Other costs

* **Funding** is not a fee. Traders pay it to each other, and Liquid doesn't collect it. See [Funding rates](https://docs.liquid.trade/trading/funding-rates.md).
* **Withdrawals** to Arbitrum cost a \$1 network fee. See [Withdraw](https://docs.liquid.trade/account/withdraw.md).
* **Card and payment providers** can charge their own fees on deposits. The provider shows them before you pay.

> [!NOTE]
>
> 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.


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