Ondo Perps Fees (2026): Promo Rates, Funding, Liquidation
Verified against Ondo Perps' fees, funding, weekend-mechanics and liquidation pages and its public markets API on 2026-10-05.
"Ondo Perps charges maker and taker fees on completed fills", calculated on filled notional and "assessed in USDC" from your Perps balance. A promotion currently halves the base perp rates. The public API carries 0.0001 maker and 0.00025 taker on every enabled perp, matching the promotional schedule.
Perpetual trading fees
"Promotion: For a limited time, base trading fees are discounted 50% off":
| Fee | Base rate | Promotional rate |
|---|---|---|
| Maker | 0.02% (2 bps) | 0.01% (1 bp) |
| Taker | 0.05% (5 bps) | 0.025% (2.5 bps) |
"Actual fees may be lower depending on your 14-day rolling trading volume (volume-based fee tiers) or individual fee arrangements", but the tier table is not published in the docs. No end date is given for the promotion.
Spot fees
Spot fees are taken from what you receive: a buy pays in the purchased tokenized stock, a sell in USDC. "Spot fee rates are set by market", and the perpetual promotion and tiers do not apply to them.
Funding
"Funding on Ondo Perps is purely peer-to-peer. The protocol takes no cut."
| Parameter | Value |
|---|---|
| Interval | Every hour, on the UTC hour |
| Premium sampling | Every minute, averaged and divided by 8 |
| Interest rate | 0.03% per day (0.00125% per hour) |
| Cap | ±1% per hour |
At zero premium "longs pay shorts 0.00125% per hour", the docs' stated cost of carry. Payments use the oracle price, not the book mid. The cap is set to at most 75% of the gap between initial and maintenance margin, so "a single hour of max funding cannot, by itself, liquidate a margin-compliant position."
Liquidation and the insurance fund
"A 1.5% fee is charged on the notional value of any liquidated position. This fee goes directly to the Insurance Fund." It is reduced if charging it would push your margin balance below maintenance, and is zero if the balance is not positive. "There is no automated split between trading revenue and the insurance fund": trading fees go to the exchange.
Collateral costs
Tokenized stock collateral counts at a haircut, which reduces margin credit but not your token quantity. If Auto-Exchange sells collateral to clear USDC Debt at a weekend or US holiday, "a closed-market settlement fee applies, currently 2.5% of the debt repaid", funded by selling a little more collateral. Token withdrawals carry no fee; "USDC withdrawals may include one", and transfers between your Spot and Perps balances are free.
Builder fees
Interfaces built on the API can add "incremental fee up to 10 bps, added on top of the base maker/taker fee and paid to the builder". Check the fee before trading through a third-party front end.
FAQ
What does a round trip cost at the promotional rates?
Two taker fills cost 0.05% of notional, two maker fills 0.02%, plus funding while you hold.
What happens when the promotion ends?
The base rates of 0.02% maker and 0.05% taker apply, unless volume tiers lower them. The docs give no end date.
How does Ondo Perps compare with other venues?
Its promotional 0.025% taker rate sits below Hyperliquid's 0.045% base tier. The fee comparison lists every schedule with its verification date, and Hyperliquid vs Ondo Perps weighs the fees against custody.
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