Fee Structure
As part of the default settings of the v4 open source software (”dYdX Chain”), dYdX Chain uses a maker-taker fee model for determining trade fees. By default, there are two types of orders on dYdX Chain — Maker and Taker orders.
Maker orders are orders that do not immediately fill and rest on the order book — these orders add depth and liquidity to the order book.
Taker orders, on the other hand, immediately cross existing Maker orders. They remove liquidity from the order book.
The fee schedule contemplated in the initial software on v4 will be subject to adjustments by the applicable governance community. Please click here to view the v4 Deep Dive: Rewards and Parameters blog post.
Where is the fee tier located on dYdX Chain?
As part of the default settings of v4 open source software, traders have the option to navigate to their “Portfolio” page and click “Fees” on the left hand panel. Traders should be able to see the current fee schedule and their position on the table.
How are taker fees calculated on dYdX Chain?
As part of the default settings of dYdX Chain, taker fees are based upon the total USD trading volume over the trailing 30-day period across all Perpetual order books.
How does a Maker order get placed on dYdX Chain?
For a Limit Order, traders have to open to place a Maker order in the book by clicking Advanced, selecting Good Til Time, and checking the Post-Only box in the Trade Column. If the Limit Order would immediately execute, the order is immediately cancelled prior to placement.
Otherwise, placing a trade that does not immediately get filled and instead rests on the order book will make it a Maker order.
Is there a fee associated with canceled orders on dYdX Chain?
As a default settings of the v4 open source software, if an order is open and is then canceled, traders will not be charged a fee. Fees are only charged on filled orders, which by default accrue to validators and their stakers. Like most other settings, this can be adjusted by the applicable governance community.
Are there gas fees associated with trading on dYdX Chain?
No. By default on dYdX Chain, traders would not pay gas fees to trade, but rather pay fees based on trades executed similar to other centralized exchanges, which by default accrue to validators and their stakers. Like most other settings, this can be adjusted by the applicable governance community.
What happens to the collected fees?
The initial software code will contemplate fees accruing to validators, which then may be shared with stakers that provide staking services to validators. Like most other settings, this can be adjusted by the applicable governance community.
Disclaimer and Terms
This document may provide information with respect to the default settings of dYdX Trading Inc. (”dYdX”) v4 software, or non-mandatory guidelines and suggestions that may help with using v4 software. dYdX does not deploy or run v4 software for public use, or operate or control any dYdX Chain infrastructure. dYdX is not responsible for any actions taken by other third parties who use v4 software. dYdX services and products are not available to persons or entities who reside in, are located in, are incorporated in, or have registered offices in the United States or Canada, or Restricted Persons (as defined in the dYdX Terms of Use). The content provided herein does not constitute, and should not be considered, or relied upon as, financial advice, legal advice, tax advice, investment advice or advice of any other nature, and you agree that you are responsible to conduct independent research, perform due diligence and engage a professional advisor prior to taking any financial, tax, legal or investment action related to the foregoing content. The information contained herein, and any use of v4 software, are subject to the v4 Terms of Use.