Are there fees on Lyra V2?
Updated over a week ago

What are the fees to trade on Lyra?

Fees on Lyra differ if you are are maker (i.e. you put out a resting limit order that is filled) or if you are a taker (i.e. you buy or sell against an existing order). The fees also differ by instrument (options vs perps), and are set out in the table below:

Instrument

Maker (% of notional volume)

Taker (% of notional volume)

Perp

0.01%

0.06%

Option

0.03%

0.04%

Option fees are capped at 12.5% of the value of the option.

Examples:

  1. Alice buys 1 ETH $2,000 put, fee charged = 0.0004 * $2,000 = $0.80.

  2. Bob buys 1 ETH $2,5000 call, with spot at $2200, fee charged = 0.0004 * $2,200 = $0.88.

What are the fees if I get liquidated?

If a user's position is liquidated, a liquidation fee is levied. The fee is 10% of the liquidated portfolio value, marked to market.

Examples:

  1. Alice has a $10,000 portfolio (marked-to-market) and is below her maintenance margin requirements. If 20% of her portfolio is liquidated to bring her account above maintenance margin, her fee will be 10% x $2,000 = $200.

Other Fees

Interest on Borrowed USDC: Interest charged on the debit balance of borrowed USDC, i.e. the fee only applies if your account has a negative cash component. This is charged according to a utilisation curve, similar to the one in use in AAVE (the more negative cash in the system, the higher the interest rate). Lyra charges a spread on the long/short balance in the system.


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