Fees

Last updated: Feb 24, 2026

Trading on Synthetix Mainnet involves fees that are applied when opening and closing positions. These fees support the operation of the protocol and its liquidity providers. This section explains how trading fees are calculated and how they may impact your execution.

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 × Executed Price × Fee Rate

Example - taker order:

Trade 0.5 BTC at $100,000 → notional = $50,000
At 0.05% taker rate → fee = $50,000 × 0.0005 = $25

Example - maker order:

Same trade, resting limit order
At 0.02% maker rate → fee = $50,000 × 0.0002 = $10

Fees are charged per fill. Partial fills are charged on the filled portion only.

When Fees are Charged

Opening a position (entering a trade)
Closing a position (exiting a trade)
Both are executed trades - both incur a fee

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.