Fees
Last updated: Jun 16, 2026
Trading on Synthetix Mainnet involves fees that are applied when opening and closing positions. Collateral operations such as withdrawals, voluntary Swap, and forced auto-exchange can also have fees.
Maker vs. Taker
Every time an order is filled, a trading fee is charged. You are either a maker or a taker:
| Role | How it works | Default fee rate |
|---|---|---|
| Taker | Your order executes immediately against existing liquidity (market orders, or limit orders that cross the spread) | 0.05% |
| Maker | Your order rests on the order book and is matched by someone else | 0.02% |
Volume-based Fee Tiers
Fees decrease as your 14-day rolling trading volume increases. Your tier also affects open order limits and the number of subaccounts you can create, see Tiers for the full breakdown.
| Tier | 14-day Volume | Maker | Taker |
|---|---|---|---|
| Regular User | $0+ | 0.020% | 0.050% |
| Tier 1 | >= $100,000 | 0.020% | 0.050% |
| Tier 2 | >= $5,000,000 | 0.016% | 0.040% |
| Tier 3 | >= $25,000,000 | 0.014% | 0.035% |
| Tier 4 | >= $100,000,000 | 0.012% | 0.032% |
| Tier 5 | >= $500,000,000 | 0.008% | 0.025% |
| Tier 6 | >= $2,000,000,000 | 0.003% | 0.020% |
| Tier 7 | >= $5,000,000,000 | 0.000% | 0.017% |
Volume is measured in notional USDT traded across all markets in a rolling 14-day window. Your tier is applied to all subsequent trades.
Fee calculations
Fees are charged on the notional value of each fill, not on the margin you deposit.
Trading Fee = Quantity x Executed Price x Fee Rate- Trade 0.5 BTC at 100,000 USDT gives 50,000 USDT notional.
- At 0.05% taker rate, fee = 50,000 x 0.0005 = 25 USDT.
- Same trade, resting limit order.
- At 0.02% maker rate, fee = 50,000 x 0.0002 = 10 USDT.
Fees are charged per fill. Partial fills are charged on the filled portion only.
When trading fees are charged
- Opening a position
- Closing a position
- Increasing or reducing a position through a filled order
Trading fees settle to your subaccount's USDT balance. If you primarily hold non-USDT collateral, fees can make the USDT balance negative.
Collateral operation fees
| Action | Fee behavior |
|---|---|
| Withdraw | Per-asset withdrawal fee, deducted from the amount received and shown before confirmation. |
| Swap (voluntary) | Exchange fee based on the source asset's lowest-tier haircut, shown in the swap quote before confirmation. |
| Auto-exchange (forced) | Higher exchange fee than voluntary Swap, approximately 2x the voluntary rate, applied automatically with no confirmation step. |
| Deposits and withdrawals | Ethereum Mainnet gas paid in ETH by your wallet. |
| Internal Swap | No wallet gas transaction; the fee is applied in the swap quote. |
Liquidation Clearance Fee
When a position is liquidated, an additional liquidation clearance fee is charged on the notional value of the liquidated position. This fee varies by market:
| Market | Liquidation Clearance Fee |
|---|---|
| BTC-USDT | 0.5% |
| ETH-USDT | 0.5% |
| SOL-USDT | 1.0% |
| XRP-USDT, DOGE-USDT | 1.0% |
| ZEC-USDT, 1000PEPE-USDT | 1.5% |
| FARTCOIN-USDT, PUMP-USDT | 2.0% |
| XMR-USDT | 2.0% |
The liquidation clearance fee is deducted from remaining collateral after the position is closed. Any collateral remaining after the fee is returned to the account.
Perpetuals have no settlement fee
USDT perpetuals do not expire, so there is no scheduled settlement cost unlike dated futures contracts.
See also
- P&L Calculations - worked examples showing fee impact on net return.
- Multicollateral Margin - USDT debt, Swap, and auto-exchange.
- Withdrawing Collateral - withdrawal fees and constraints.
- Markets - liquidation clearance fees per market.