Fees and Rebates
Vela uses a maker-rebate / taker-fee model. Specific rates will be published before mainnet.
Maker vs Taker
Every fill on Vela involves two parties: the maker, who had a resting limit order in the book, and the taker, whose incoming order matched against it. These roles determine how fees are assessed.
- Maker: Provides liquidity to the book. Earns a rebate — a negative fee that increases your balance. Resting GTC and Post-Only limit orders are maker orders when they fill.
- Taker: Removes liquidity from the book. Pays a fee. Market orders are always taker. IOC and FOK orders are taker for the quantity that fills immediately.
Fee Structure
Specific fee rates will be published in the official fee schedule before mainnet launch. The beta operates with placeholder rates. The structure follows the standard exchange model:
| Role | Fee direction | Rate (beta) |
|---|---|---|
| Maker | Rebate (added to balance) | TBD — published at mainnet |
| Taker | Fee (deducted from balance) | TBD — published at mainnet |
Fee Calculation
Fees are calculated on the notional value of each fill: fee = price × size × rate. For a taker fill of 1 ETH at $3,200 with a 0.05% taker fee, the fee is $1.60 USDC. This is deducted from the fill proceeds (for sells) or added to the cost (for buys).
Maker rebates work the same way: for a maker fill of 1 ETH at $3,200 with a 0.02% maker rebate, the maker receives $0.64 USDC in addition to the fill proceeds.
Fee Tiers
Volume-based fee tiers are planned for mainnet. Market makers with consistently high volume may negotiate custom rates. Contact the Vela team through official channels for information on institutional fee arrangements.
fee field in a fill message is signed positive for taker fees and signed negative for maker rebates.