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The PVP fee structure consists of three components.

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Permanent Level-Based Discounts

Traders unlock permanent fee discounts ending at level 99, with each milestone reducing the base fee progressively. Achieving Level 98 permanently reduces your base fee to low as 0.0250% (2.5bps).
Level RequiredFee Range
10.025% - 0.040%
150.024% - 0.039%
300.023% - 0.038%
400.022% - 0.037%
500.021% - 0.036%
580.020% - 0.035%
650.019% - 0.034%
720.018% - 0.033%
770.017% - 0.032%
810.016% - 0.031%
840.015% - 0.030%
870.014% - 0.029%
900.013% - 0.028%
930.012% - 0.027%
960.011% - 0.026%
980.010% - 0.025%

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30D Volume-Based Discounts

In addition to your level-based discount, trading actively within the last 30 days earns you further fee reductions, up to 1.5 bps. Discounts scale according to your rolling 30-day trading volume:
VolumeDiscount
< $10,000,0000
≥ $10,000,000-0.003% (0.3 bps)
≥ $25,000,000-0.006% (0.6 bps)
≥ $100,000,000-0.009% (0.9 bps)
≥ $500,000,000-0.012% (1.2 bps)
≥ $1,000,000,000-0.015% (1.5 bps)

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Effective Leverage-Based Discount (Per-Trade)

Every individual trade also qualifies for a dynamic discount determined by its effective leverage (notional value ÷ account equity). The discount grows linearly to a maximum of 4 bps at 40× leverage.
Effective LeverageAdditional Discount (bps)
0×0
10×1
20×2
30×3
40× +4 (max)
The leverage discount applies on both the opening and closing side of a position. Total fees can never be negative; any discount that would reduce the fee below 0 bps is capped at 0 bps.

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Spot Fees

Spot fees only apply on sells. Your spot sell fee equals your effective perp fee multiplied by 2. Using the example above, the same trader would pay 0.10 % when selling spot tokens (5 × 0.02 %).
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