Derive Fees (2026): Perps, Options, RFQ and Funding
Verified against Derive's trading-fee, funding, perpetuals and liquidation pages and its public instruments API on 2026-10-05.
Derive charges maker and taker fees on order-book trades, a discounted schedule on RFQ trades, and "takers pay a base fee per order regardless of order size." The public API carries 0.0003 taker, 0.0001 maker and a 0.01 base fee on all 15 perps.
Order-book fees
| Instrument | Taker | Maker |
|---|---|---|
| Perp | $0.01 + 0.03% × notional | 0.01% × notional |
| Option | $0.5 + min(0.03% × notional, 12.5% × premium) | min(0.01% × notional, 12.5% × premium) |
| Spot | No fee | No fee |
The docs' perp example: a 0.1 BTC trade at $43,000 costs the maker $0.43 and the taker $1.30. "Options fees are capped at 12.5% of the option value." Lower tiers come from more volume or staking DRV and are shown in the app, not in the docs.
RFQ discounts
RFQ trades pay the taker notional rate on both sides plus the taker base fee, but "multi-leg trades receive up to 100% discounts on the cheaper legs": two-leg option spreads pay nothing on the second leg, and an option hedged with a perp pays nothing on the cheaper leg. Box spreads pay a yield fee of notional × 0.5% × years to expiry on both sides.
Funding
Funding accrues per hour from the premium of the impact bid and ask (on a 4,000 notional) over spot, divided by a convergence period, plus a clamped interest term of 0.00125% an hour. The caps differ between sources:
| Markets | Perpetuals parameter page | API max rate per hour |
|---|---|---|
| BTC, ETH, SOL, HYPE | 0.017123% / hour | 0.0171% (BTC, ETH, SOL, HYPE) |
| LIT, PUMP, VVV | 0.4% / hour | 0.0685% |
| All other markets | 0.068493% / hour | 0.0685%; 0.0457% on XAUT and ZEC |
The separate Perp Funding page gives yet another cap: 0.057% an hour for ETH and BTC and 0.4% for all others. Check the live rate on each market before holding a position.
Liquidation
The two pages disagree. The trading-fee page says "a liquidation fee of 10% of the liquidated
portfolio value, marked to market, is applied." The liquidation page sets
LIQ_FEE_PERCENT = 2% on the fraction that would be liquidatable at zero discount; its
worked example charges $760 on a $100,000 portfolio. On top of the fee, liquidators buy at a discount
of 2% to 20% in the first 100 seconds of the auction.
Interest on borrowed USDC
A negative USDC balance pays interest on "a utilisation curve similar to AAVE: the more negative cash in the system, the higher the interest rate". Lending pools are per risk universe.
FAQ
What does a perp round trip cost?
Two taker fills cost 0.06% of notional plus $0.02 in base fees; two maker fills 0.02%. Funding and any borrowing are extra.
Why are options cheaper to trade as spreads?
Because RFQ discounts remove the fee on the cheaper leg of a two-leg trade.
How does Derive compare with other venues?
Its perp taker rate of 0.03% plus $0.01 sits below Hyperliquid's 0.045% base tier on most trade sizes. The fee comparison lists every schedule with its verification date, and Hyperliquid vs Derive weighs the two.
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