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dYdX Fees Explained: Tiers, Maker Rebates, and Funding
Every figure on this page was re-read from dYdX's official docs on 2026-09-21 and the fee tiers cross-checked against the live on-chain parameters the same day; the two agree tier for tier. Two corrections since the July version: the mid-cap and long-tail funding caps are 30% and 60% per 8 hours under the docs' current margin table (the page had said 20% and 40%), and the docs now state that traders receive a 50% trading rebate directly on each trade in place of the zeroed DYDX rewards. The schedule is set by governance and can change by vote; the docs point at the app's own fees page for the latest.
dYdX charges 0.01% maker / 0.05% taker at its base tier, under $1M in trailing 30-day volume. Fees are volume-tiered on trailing 30-day USD volume "across sub accounts and markets", are "uniform across all markets", and improve in both directions as volume rises: taker fees fall and maker fees turn into a rebate. The venue itself has retired most of its markets during 2026, which the notice above tracks; the fee schedule below applies to the markets that remain. For the schedule against other venues, see the fee comparison; for the exchange, the dYdX overview.
At a glance
| Item | Amount | Source |
|---|---|---|
| Tier 1 maker / taker | 0.01% / 0.05% | Docs fee-tier table; on-chain 100 / 500 ppm |
| Top tier (over $200M) | −0.011% maker rebate / 0.025% taker | Same; on-chain −110 / 250 ppm |
| Staked DYDX discount | 5% to 50% off net positive fees, by fee tier and bonded stake | Docs staking table (proposal 310) |
| Trading rebate | "50% trading rebates directly after each trade" since the rewards multiplier was set to 0 | Docs rewards page |
| Referral | Referred-by-a-VIP-affiliate accounts start at fee tier 3 in the docs' example; the affiliate earns up to 50% of the taker fee while the taker is at or below $50M 30-day volume | Docs trading-rewards formula |
| Funding | Hourly; premium ÷ 8 plus an interest component (0% cross, 0.125 bps/hour isolated); 8-hour cap 12% / 30% / 60% by market group | Docs funding page |
| Third-party fees | A builder code can add a per-order fee in ppm; order routers can earn a governance-voted share of fees | Docs builder codes, revenue share |
Volume tiers
Seven tiers, the base tier plus six unlocked at $1M, $5M, $25M, $50M, $100M and $200M of trailing 30-day volume. The docs' table and the chain's fee-tier parameters (maker and taker in parts per million) were read on 2026-09-21 and agree:
| Tier | 30-day volume | Maker | Taker | On-chain ppm (maker / taker) |
|---|---|---|---|---|
| 1 | under $1M | 0.010% | 0.050% | 100 / 500 |
| 2 | $1M or more | 0.010% | 0.045% | 100 / 450 |
| 3 | $5M or more | 0.005% | 0.040% | 50 / 400 |
| 4 | $25M or more | 0% | 0.035% | 0 / 350 |
| 5 | $50M or more | 0% | 0.030% | 0 / 300 |
| 6 | $100M or more | −0.007% (rebate) | 0.025% | −70 / 250 |
| 7 | $200M or more | −0.011% (rebate) | 0.025% | −110 / 250 |
Governance can change any of these by vote; the docs say to "refer to the dydx frontend fees page for the latest schedule". Confirm the current tier in the app before sizing a strategy around a rate.
What maker rebates mean
At the top tiers the maker fee does not stop at zero; it goes negative. At −0.011% for accounts at or above $200M of trailing 30-day volume, dYdX pays those makers to provide liquidity rather than charging them. Few perp DEXs publish a true rebate schedule, which is why it is called out on its own. The staking discount below never boosts a rebate.
Staking fee discounts
Separately from volume tiers, staked DYDX cuts fees on a grid the community set by governance vote (proposal 310). The docs' rules: "discounts apply only to net positive trading fees"; "only staked tokens (status: bonded) count", so DYDX in the unbonding period does not qualify; "staking discounts do not apply to maker rebates"; and the grid "can be changed at any time with a dYdX governance proposal". Each fee tier has two stake thresholds:
| Fee tier | Staked DYDX | Discount | Staked DYDX | Discount |
|---|---|---|---|---|
| 1 | 3,000 | 25% | 20,000 | 50% |
| 2 | 20,000 | 20% | 80,000 | 45% |
| 3 | 80,000 | 20% | 200,000 | 40% |
| 4 | 200,000 | 15% | 800,000 | 30% |
| 5 to 7 | 800,000 | 5% | 5,000,000 | 10% |
The shape is deliberate: the deepest discounts sit at the lowest fee tiers. A tier 1 trader staking 20,000 DYDX halves their fees, while the whale tiers max out at 10%. Staking itself is covered on the trading interface guide.
Trading rewards and the 50% rebate
The protocol defines per-block trading rewards paid in DYDX, computed from fees paid, the maker rebate, the affiliate share and the protocol revenue share, all multiplied by a governance constant C. The docs state "the community has voted to set the C parameter to 0", so those DYDX emissions are off, and add: "traders now earn 50% trading rebates directly after each trade as trading rewards via C factor have been set to 0 via governance". The docs do not define the base of that 50% beyond calling it a trading rebate, so this page quotes it without restating it as a rate. There is no points programme among dYdX's documented reward mechanisms.
Who else takes a share of your fee
- Affiliates. The rewards formula sets the affiliate's share of a referred taker's fee at up to 50% of the taker fee rate while the taker's 30-day volume is at or below $50M, and zero above it. The docs' worked example has a trader "referred by a VIP Affiliate, starting at fee tier 3" paying 0.04% taker. This site's code and what it earns are on the referral page.
- Protocol revenue share. The docs' example puts the taker-fee revenue share at 60%: 50% to MegaVault, the protocol's liquidity vault, 10% to the Treasury subDAO, 0% to the market mapper for that market. This is where fees go, not an extra charge to you.
- Order routers. A third-party router can earn "a portion of the trading fees (maker and taker)", in ppm, only after a governance vote, and "affiliate revenue takes priority in the distribution hierarchy".
- Builder codes. An interface can attach a builder address and a "fee enforced on the order in parts per million" to each order, paid on fill. That is the equivalent of Hyperliquid's builder codes: read the fee an app names before trading through it.
Funding
Funding is charged every hour, "calculated at the end of each hour and based on the average of premiums collected over the last 60 minutes". Each block's proposer votes a premium from its view of the book; a one-minute sample takes the median; the hour's premium is the simple average of the 60 samples. The rate is then:
Funding Rate = (Premium Component / 8) + Interest Rate Component
The interest component is 0% for cross-margined markets and, since governance vote 220, "0.125 bps per hour or 1 bps per 8 hours" for isolated markets. Funding flows between traders, longs to shorts or shorts to longs by sign; the docs describe no platform commission on it. The 8-hour rate is capped at "600% × (Initial Margin − Maintenance Margin)" using the docs' margin table:
| Market group | Initial margin | Maintenance margin | 8-hour funding cap |
|---|---|---|---|
| Large-cap | 5% | 3% | 12% |
| Mid-cap | 10% | 5% | 30% |
| Long-tail | 20% | 10% | 60% |
The docs' own example: BTC-USD, large-cap, 600% × (5% − 3%) = 12%. For how funding works across venues see the funding rates guide; for live rates, the funding screener.
Governance caveat
The fee schedule, the staking grid, the rewards constant, the funding parameters and the affiliate and router shares are all set by on-chain governance and can change by vote. The numbers here reflect what the docs and the chain published on 2026-09-21. Before sizing a strategy around a specific tier, rebate or discount, confirm the current schedule in the app rather than relying on a cached figure, including this one.
How dYdX compares
dYdX's base maker fee of 0.01% undercuts Hyperliquid's 0.015%, while its base taker fee of 0.05% sits above Hyperliquid's 0.045%. Which side comes out ahead depends on whether your flow is maker- or taker-heavy, and both schedules move with volume. See Hyperliquid vs dYdX for the side-by-side, including what dYdX's market wind-down means for the comparison.
FAQ
What are dYdX's fees at low trading volume?
At tier 1, under $1M of trailing 30-day volume: 0.01% on maker orders and 0.05% on taker orders. Staking 3,000 bonded DYDX cuts those by 25%, 20,000 by 50%.
Do dYdX makers really get paid to trade?
Yes, at the top tiers: −0.007% from $100M and −0.011% from $200M of 30-day volume, confirmed in the on-chain parameters as −70 and −110 ppm.
Does dYdX take a cut of funding payments?
Not according to its docs, which describe funding as settled between longs and shorts every hour with no platform commission mentioned.
What happened to DYDX trading rewards?
The governance constant that scaled them was voted to zero. The docs say traders now receive a 50% trading rebate directly after each trade instead.
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Affiliate disclosure: PerpDEX Guide may earn a commission if you sign up through links on this page. This does not affect the figures here, which are quoted from dYdX's docs and chain parameters; see our methodology.