Fees

Drake employs a multi-tier fee system:

Trading Fees

• Taker Fee: Charged on orders that remove liquidity (market orders, aggressive limits)

• Maker Fee: Rebate (negative fee) for orders that add liquidity (passive limit orders)

• AMM Fee: Applied to vault-executed portions

• Spread: Additional cost on vault trades (oracle price ± spread)

Typical fee structure:

• Taker: 0.05% of notional value

• Maker: 0.01% of notional value

• AMM spread: 0.02-0.05% depending on conditions

Funding Fees (See Funding Fees)

Periodic payments between longs and shorts based on market imbalance

Borrowing Fees (See Borrowing Fees)

Continuous interest on leveraged positions that scales with vault utilization

Trading Fee

Borrowing Fee

Funding Fee