What are the fees?

What are the fees to trade on Derive?

Fees on Derive differ if you are are maker (i.e., you put out a resting limit order that is filled) or if you are a taker (i.e., you buy or sell against an existing order) - takers pay a base fee per order, regardless of order size. The fees also differ by instrument (options vs. perps) and are set out in the table below:

Option fees are capped at 12.5% of the value of the option.

What are the fees if I get liquidated?

If a user's position is liquidated, a liquidation fee is levied. The fee is 10% of the liquidated portfolio value, marked to market.

Examples:

Other Fees

Interest on Borrowed USDC: Interest charged on the debit balance of borrowed USDC, i.e. the fee only applies if your account has a negative cash component. This is charged according to a utilisation curve, similar to the one in use in AAVE (the more negative cash in the system, the higher the interest rate). Derive charges a spread on the long/short balance in the system.

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