💰Fees

opt.fun implements a maker-taker fee model designed to incentivize liquidity provision while maintaining competitive trading costs.

Fee Types

Maker Fees (-0.20% of option premium)

• Definition: Fees paid to traders who add liquidity by placing limit orders

• Purpose: Encourages liquidity provision by offering compensation

• Collection: Added to collateral when limit orders are filled

Taker Fees (1.00% of option premium)

• Definition: Fees charged to traders who remove liquidity by placing market orders or crossing the spread

• Purpose: Compensates for immediate execution and liquidity consumption

• Collection: Deducted from collateral at order execution

Liquidation Fees (0.10% of notional exposure)

• Definition: Fees charged to traders who have their positions liquidated

• Purpose: Encourages trade unwinding prior to liquidation

• Collection: Deducted from collateral at position liquidation

Fee Calculation

For Buyers

When buying options, fees are calculated as:

Total Cost = Option Premium x (1 + Fee Rate)

Example:

• Option Premium: 100 USDC

• Notional Exposure: 5000 USDC (50x leverage)

• Taker Fee Rate: 1.00%

• Total Cost: 100 x (1 + 0.01) = 101 USDC

For Sellers

When selling options, fees are calculated as:

Net Premium Received = Option Premium x (1 + Fee Rate)

Example:

• Option Premium: 100 USDC

• Notional Exposure: 5000 USDC (50x leverage)

• Taker Fee Rate: -0.20%

• Net Received: 100 x (1 - 0.02) = 98 USDC

Fees are only charged when an order is matched. Unfilled limit or market orders are not charged a fee. The fee structure is designed to be competitive with centralized options platforms while maintaining the security and transparency benefits of decentralized trading.