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Documentation Index

Fetch the complete documentation index at: https://docs.raydium.io/llms.txt

Use this file to discover all available pages before exploring further.

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Fee schedule

Raydium Perps uses Orderly Network’s fee model:
  • Maker (resting limit orders that get hit): 0 bps — zero maker fee, no rebate.
  • Taker (market orders and crossing limit orders): volume-tiered, starting at 4.5 bps and scaling down with 30-day trading volume.
  • Orderly infrastructure fee: 1 bps on taker volume, already included in the taker bps figure below (Orderly receives that portion of the fee).
  • Withdrawal fee: 1 USDC flat per withdrawal, charged by Orderly at settlement time.

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Taker fee tiers (30-day volume)

Tier30-day volumeTaker (bps)
1< $500k4.5
2≥ $500k and < $2M4.0
3≥ $2M and < $5M3.5
4≥ $5M and < $25M3.0
5≥ $25M and < $50M2.5
6≥ $50M and < $80M2.25
7≥ $80M2.0
Volume is measured across all Orderly markets the account trades on, not just Raydium Perps.

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Maker-taker in practice

Because the maker fee is 0, market makers on Raydium Perps pay nothing to rest liquidity. Takers pay the full bps shown above. A few implications:
  • A pure market-making strategy pays no venue fees on successful fills. The only running cost is capital lockup and inventory risk.
  • A directional trader that exclusively uses market orders pays full taker bps; at tier 1 this is 0.45% per round-trip (0.225% entry + 0.225% exit), which eats quickly into a leveraged strategy’s expected return.
  • Post-only limit orders can reduce taker exposure to zero at the cost of execution uncertainty — you only fill when the market comes to your price.

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Funding payments

Funding is not a venue fee; it is a peer-to-peer transfer between longs and shorts intended to keep the perp price anchored to the spot reference. Funding charges are a real P&L effect but they flow from trader to trader, not to the venue. Rates are set by Orderly’s funding-rate formula and accrue at fixed intervals (commonly every hour). Check the live rate per market before opening a position, especially on markets where the perp is trading at a persistent premium or discount.

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Liquidation fees

When the liquidation engine closes positions, it charges a liquidation fee to the account being liquidated. The fee funds Orderly’s insurance fund, which backstops clawback scenarios. The fee is not owed to Raydium. Exact liquidation-fee parameters are Orderly-side and vary by market; they are disclosed in the Orderly margin-engine documentation.

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Comparison with spot AMM fees

For context, Raydium’s spot venues charge: Spot trading costs approximately 55–125× more in basis points than a tier-1 taker perp trade — but the products are not substitutes: spot gives you actual asset ownership, perps give you leveraged synthetic exposure with funding overhead.

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Integrator-facing notes

  • Fee rates change. The tier thresholds above are a 2026-04 snapshot — fetch live tiers from Orderly’s fee endpoint before displaying them to a user.
  • Withdrawal fees are denominated in USDC; they come out of the withdrawable balance. A withdrawal of 100 USDC results in 99 USDC actually received.
  • Funding accruals are reported per-interval in Orderly’s API; integrate them into your P&L display or traders will be confused about position-level returns that don’t match (unrealized_pnl − entry_fee − exit_fee).

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Where to go next

Sources:
  • Orderly Network fee schedule.
  • Raydium Perps published fee tiers at perps.raydium.io.