Perpetual Futures Fees & Revenue

Every perpetual futures trade generates fees that go to the protocol, liquidity providers, or both. On DEX platforms, these fees are transparent and verifiable on-chain. The rankings above show actual revenue collected, not the fee schedule — so higher volume protocols naturally generate more in fees. If you're new to the space, our guide on what perpetual futures are explains the basics.

Fee structures vary significantly. Hyperliquid charges 2.5 bps taker / 0.2 bps maker, while GMX uses a flat 5-7 bps with dynamic pricing based on pool utilization. For a detailed breakdown, see our fee comparison guide or use the fee calculator.

CEX fee estimates are calculated from trading volume multiplied by the standard taker fee rate. Actual CEX revenue varies by user tier. For DEX protocols, fees come directly from DefiLlama's on-chain tracking. Compare fees alongside open interest and volume rankings for the full picture.

Maker fees apply when you place a limit order that adds liquidity to the order book. Taker fees apply when you place a market order that removes liquidity. Most exchanges charge lower maker fees to incentivize liquidity provision — on Binance, makers pay 0.02% while takers pay 0.05%.

Some exchanges go further. MEXC charges 0% maker fees — every limit order is free. Phemex offers 0.01% maker, half the industry standard. For strategies that primarily post limit orders, these differences compound into real savings. At $500K daily maker volume, the gap between 0% and 0.02% saves $100/day.

On DEX protocols, the distinction works differently. AMM-based platforms like GMX charge a single fee regardless of order type. Order book DEXes like Hyperliquid and dYdX use maker/taker splits similar to CEXes.

Use our fee calculator to compare the actual cost of a trade across exchanges. Beyond the posted fee rate, total trading cost includes the bid-ask spread — which varies by exchange, pair, and trade size. Enable "Include Spread" in the calculator for a realistic comparison.

Referral codes reduce fees on most exchanges. Through our deals page, you can get 10-20% off fees at Binance, Bybit, OKX, and 20+ other exchanges. These stack with VIP tier discounts.

For DEX traders, funding rate arbitrage between exchanges can offset fee costs entirely. See our funding rates monitor to spot opportunities, or read the advanced strategies guide for detailed approaches.