> ## 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.

# Perps fees

> Maker 0 bps, volume-tiered taker schedule, Orderly's 1 bps cut, and the flat 1 USDC withdrawal fee.

## 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.

## Taker fee tiers (30-day volume)

| Tier | 30-day volume        | Taker (bps) |
| ---- | -------------------- | ----------- |
| 1    | \< \$500k            | 4.5         |
| 2    | ≥ \$500k and \< \$2M | 4.0         |
| 3    | ≥ \$2M and \< \$5M   | 3.5         |
| 4    | ≥ \$5M and \< \$25M  | 3.0         |
| 5    | ≥ \$25M and \< \$50M | 2.5         |
| 6    | ≥ \$50M and \< \$80M | 2.25        |
| 7    | ≥ \$80M              | 2.0         |

Volume is measured across **all** Orderly markets the account trades on, not just Raydium Perps.

## 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.

## 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.

## 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.

## Comparison with spot AMM fees

For context, Raydium's spot venues charge:

* **AMM v4:** 25 bps per trade (22 LP + 3 protocol). See [`products/amm-v4/fees`](/products/amm-v4/fees).
* **CPMM:** 25 bps default, configurable per `AmmConfig`. See [`products/cpmm`](/products/cpmm).
* **CLMM:** tier-dependent, 1 / 5 / 25 / 100 bps. See [`products/clmm`](/products/clmm).

**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.

## 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).

## Where to go next

* [Trading basics](/products/perps/trading-basics)
* [Order types](/products/perps/order-types)
* [Collateral](/products/perps/collateral)
* [`reference/fee-comparison`](/reference/fee-comparison) — spot-side fee matrix.

Sources:

* Orderly Network fee schedule.
* Raydium Perps published fee tiers at perps.raydium.io.