Fees
Description of fees within the GRVT product suite.
Fee Model Overview
On a high level, GRVT only charges the following fees:
Trading Fees - this applies to all traded assets
Settlement Fees - this only applies to non-daily options and non-weekly futures.
Liquidation Fees - this applies to all assets that are liquidated
Withdrawal Fees - this applies to all assets that are withdrawn
This means that GRVT does not charge for the following services:
Funding - No fees are charged during hourly funding
Transfers - No fees are charged for transfers
Deposits - No fees are charged for deposits
Trading Fees
Trading fees follow a maker-taker fee model.
Makers are liquidity providers that add liquidity to order books, RFQs, or AXEs.
Takers are liquidity consumers who reduce liquidity from order books, RFQs, or AXEs.
Fee Table
Level | Product | Maker | Taker | 30d Trading Volume (USD) |
---|---|---|---|---|
Level 1 | Futures | 0.03% | 0.05% | $0 |
Options | 0.03% | 0.05% | $0 | |
Level 2 | Futures | 0.026% | 0.045% | $10, 000, 000 |
Options | 0.026% | 0.045% | $10, 000, 000 | |
Level 3 | Futures | 0.022% | 0.040% | $20, 000, 000 |
Options | 0.022% | 0.040% | $20, 000, 000 | |
Level 4 | Futures | 0.018% | 0.035% | $50, 000, 000 |
Options | 0.018% | 0.035% | $50, 000, 000 | |
Level 5 | Futures | 0.014% | 0.030% | $100, 000, 000 |
Options | 0.015% | 0.030% | $100, 000, 000 | |
Level 6 | Futures | 0.009% | 0.025% | $200, 000, 000 |
Options | 0.011% | 0.025% | $200, 000, 000 | |
Level 7 | Futures | 0.005% | 0.020% | $500, 000, 000 |
Options | 0.007% | 0.020% | $500, 000, 000 | |
Level 8 | Futures | 0.001% | 0.015% | $1, 000, 000, 000 |
Options | 0.003% | 0.015% | $1, 000, 000, 000 | |
Level 9 | Futures | -0.003% | 0.01% | $2, 000, 000, 000 |
Options | -0.001% | 0.01% | $2, 000, 000, 000 |
GRVT adopts a 9-tier fee table. Hitting the trading volume requirements on either options or futures contracts would qualify the trading account for the next tier of fees.
Single-Legged Trades
For single-legged trades, fees will be applied as follows:
Futures (Dated & Perpetual)
trading_fee = size * trade_price * fee_percentage
For instance, given the below scenario:
trading 10 ETH USDT Perpetuals
at a price of 2000 USDT
with 0.03% fee percentage
will result in a charged fee of
10 * 2000 USDT * 0.03% = 6 USDT
Options
trading_fee = min(underlying_charge, premium_cap)
Fees are charged according to the lower of two thresholds:
Underlying Charge
underlying_charge = size * underlying_price * fee_percentage
Underlying price refers to the underlying asset’s index price
Premium Cap
premium_cap = size * trade_price * 12.5%
Multi-Legged Trades
For multi-legged trades (block trades), fees will be discounted according to the below rules:
Futures (Dated & Perpetual)
If multiple futures are transacted in a single trade, GRVT applies a 50% discount to the cheapest future leg.
Maker fee rebates are still applied in full.
Options
If multiple options are transacted in a single trade, GRVT applies a 100% discount to the cheaper side (long/short).
Options legs are grouped into buy and sell sides.
Only the fees on the more expensive side are charged. Fees on the cheaper side are waived.
Maker fee rebates are still applied in full.
Settlement Fees
Settlement fees are only charged for non-daily options and non-weekly futures.
Non-Weekly Futures
settlement_fee = size * mark_price * 0.025%
Non-Daily Options
settlement_fee = min(underlying_charge, premium_cap)
Fees are charged according to the lower of two thresholds:
Underlying Charge
underlying_charge = size * underlying_price * 0.015%
Underlying price refers to the underlying asset’s index price
Premium Cap
premium_cap = size * settlement_price * 12.5%
Liquidation Fees
Liquidation Fees are charged for both options and futures. Fees are directly correlated to the size of the contracts being liquidated.
Liquidation fees will be applied as follows:
Futures (Dated & Perpetual)
liquidation_fee = size_liquidated * liquidation_price * 0.9%
Options
underlying_charge = size_liquidated * underlying_price * 0.25%
Liquidation fees collected are directed to our Insurance Fund. This fund plays a vital role in safeguarding the financial stability of our exchange.
Withdrawal Fees
Withdrawal fees are charged whenever spot assets are withdrawn. This is used to cover the gas cost required to process an on-chain withdrawal.
These fees are modified from time to time depending on the current gas cost of the Ethereum network. They are flat rates like 1 USDT
and not percentage-based.
GRVT does not impose a minimum withdrawal amount. The withdrawal amount simply has to be large enough to cover the withdrawal fees.
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