Fees
Trading fees on Hypercall.
Trading Fees
Fees are charged as a percentage of notional value (quantity × underlying price).
| Type | Rate |
|---|---|
| Maker | 0.02% |
| Taker | 0.05% |
Fee Cap
Option fees are capped at 12.5% of the option premium. You'll never pay more than 12.5% of the option's price in fees, protecting traders on low-premium contracts.
Fee = min(rate × notional, 0.125 × option_price × quantity)
Examples
Standard trade:
- Buy 1 ETH call, strike 3,200
- Notional = 1 × 3,200
- Taker fee = 0.05% × 1.60**
Low-premium trade (fee cap applies):
- Buy 10 far-OTM calls at 3,200
- Notional fee = 0.05% × 10 × 16.00
- Capped fee = 12.5% × 0.625
- Actual fee = $0.625 (cap applied)
Settlement Fees
When options expire in-the-money, a settlement fee is charged:
| Type | Rate |
|---|---|
| Settlement | 0.015% of notional |
Settlement fees are capped at 12.5% of intrinsic value.
Options expiring out-of-the-money incur no settlement fee.
Liquidation Fees
When a position is liquidated:
| Type | Rate |
|---|---|
| Liquidation | 1% of liquidated notional |
Liquidation fees compensate the protocol for risk management and incentivize proper margin maintenance.
Builder Codes
Integrators can earn a share of trading fees through builder codes.
When a trade includes a builder code:
- 50% of the trading fee goes to the builder
- 50% goes to the protocol
Builder fees are paid from the protocol's share-traders pay the same fees regardless of builder code.
Fee Distribution
Trading fees accrue to the protocol treasury and are used for:
- Protocol development
- Liquidity incentives
- Insurance fund contributions
Deposits & Withdrawals
| Action | Fee |
|---|---|
| Deposit | Free |
| Withdrawal | Network gas only |
Hypercall does not charge fees on deposits or withdrawals beyond L1 gas costs.