Nado Fees (2026): VIP Tiers, FX Rates, Funding
Verified against Nado's fee, FX, funding and money-market pages, the fee-schedule image on the fees page, and the public gateway API on 2026-09-30.
Nado runs "a classic maker-taker structure across spot and perpetuals markets", with fees in basis points of notional "settled instantly in USDT0 from your collateral". The main tier table is published only as an image on the fees page; the rates below are read from it, and the public API carries the VIP 0 rates (0.00035 taker, 0.0001 maker) on 76 of 82 perps.
Trading fees: seven VIP tiers
Tiers use "your total trading volume (maker + taker) over the prior 30 days, aggregated across spot and perpetuals", with "epochs resetting on the first of each UTC month". Rates in basis points (1 bp = 0.01%):
| Tier | 30D volume | Taker (bps) | Maker (bps) |
|---|---|---|---|
| VIP 0 | $0 | 3.5 | 1.0 |
| VIP 1 | $5M | 3.3 | 0.8 |
| VIP 2 | $25M | 3.0 | 0.5 |
| VIP 3 | $100M | 2.8 | 0.0 |
| VIP 4 | $250M | 2.5 | 0.0 |
| VIP 5 | $500M | 1.8 | −0.5 |
| VIP 6 | $1B | 1.5 | −0.8 |
Season 2 lowered the volume thresholds for VIP 4, 5 and 6 and says "Fee amounts at each tier are unchanged". The fees page's worked example still labels the top tier "$5B+ volume"; the table above follows the current schedule.
FX perps: a lower schedule
EURUSD, GBPUSD and USDJPY perps have their own tiers. The thresholds below are as the FX page publishes them; the Season 2 change to the VIP 4 to 6 thresholds is described for the main schedule only.
| Tier | 30D volume | Taker (bps) | Maker (bps) |
|---|---|---|---|
| VIP 0 | $0 | 0.70 | 0.20 |
| VIP 1 | $5M | 0.66 | 0.16 |
| VIP 2 | $25M | 0.60 | 0.10 |
| VIP 3 | $100M | 0.56 | 0.00 |
| VIP 4 | $500M | 0.50 | 0.00 |
| VIP 5 | $1B | 0.36 | −0.10 |
| VIP 6 | $5B+ | 0.30 | −0.16 |
Minimum taker fee
A taker order below the market's minimum size pays as if it were that size: the docs' example is a $75 order charged on $100 at 3.5 bps. Maker orders have no minimum.
Sequencer and network fees
| Action | Fee |
|---|---|
| Deposits | 0 USDT0 |
| Order placement (maker or taker) | 0 USDT0 |
| Subaccount transfer | 1 USDT0 · 0.1 USDT0 if either side is isolated |
| Liquidation | 1 USDT0 (to the liquidator) |
| Withdrawal | 1 USDT0 · 0.0006 wETH · 0.00004 kBTC |
These are charged only on success. Withdrawals are batched on-chain and typically settle "within ~30 minutes maximum" in congestion. A fast withdrawal costs an extra 1 USDT0 plus the greater of 5 USDT0 or 10 bps of the amount.
Funding
"Funding is settled every hour", and "the final funding rate is capped at ±2% per day". On crypto markets the 8-hour rate is the premium index plus a clamp of 0.01% interest minus the premium to ±0.05%; the premium compares Nado's best bid and ask with a Stork spot index, sampled every 5 seconds. Equity, FX and commodity markets still use an earlier formula based on the book-to-index price difference, with no interest term.
Money-market interest
Borrowing is priced by a kinked utilization curve recalculated every 15 minutes, and the protocol keeps 20%: lenders receive 80% of the optimal rate as yield. Spot positions can use up to 5x through auto-borrowing, and interest accrues at the pool rate.
FAQ
What does a round trip cost at VIP 0?
Two taker fills cost 0.07% of notional, two maker fills 0.02%, one of each 0.045%, plus funding while you hold and 1 USDT0 to withdraw.
Can I get a maker rebate?
From VIP 5, at $500M of 30-day volume: −0.5 bp, and −0.8 bp at VIP 6. A referral code with a kickback also returns part of your fees.
How does Nado compare with other venues?
Its VIP 0 taker rate of 0.035% is below Hyperliquid's 0.045% base tier. The fee comparison lists every schedule with its verification date, and Hyperliquid vs Nado weighs the two.
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