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Trading Fee Rate

The trading fee rate refers to the amount charged to users when they open a position. Our platform, JOJO, applies different rates for different traders. These fees are included in the order structure, with positive values for payments and negative values for Market Makers (MMs) who earn rebates by providing liquidity. Fees are paid upon order confirmation on the chain. The back-end system checks fees for each transaction, and orders with incorrect rates will be disregarded. You can access the rate API interface at:

struct Order {
// address of perpetual market
address perp;
Signer is trader, the identity of trading behavior,
whose balance will be changed.
Normally it shoule be an EOA account and the
order is valid only if the signer signed it.
If the signer is a contract, it must implement
isValidPerpetualOperator(address) returns(bool).
The order is valid only if one of the valid operators
is an EOA account and signed the order.
address signer;
// positive(negative) if you want to open long(short) position
// decimal is 18
int128 paperAmount;
// negative(positive) if you want to open short(long) position
// decimal is the same as primary asset
int128 creditAmount;
║ info component │ type ║
║ makerFeeRate │ int64 ║
║ takerFeeRate │ int64 ║
║ expiration │ uint64 ║
║ nonce │ uint64 ║
bytes32 info;

Maker Fee and Taker Fee

  • Markets consist of makers and takers.

  • Taker: A taker is a type of trader who places market or limit orders that are immediately matched with existing orders, thus consuming liquidity from the order book. This means that takers remove orders from the order book and reduce the liquidity provided by the makers. Takers pay a slightly higher fee than makers because they benefit from the convenience of instant order execution. The TakerFee is calculated based on the taker's credit matching amount. Calculated as:

takerFee=abs(creditChange)baseTakeFeeRate+abs(creditChange)offsettakerFee = abs(creditChange) * baseTakeFeeRate + abs(creditChange) * offset
  • Maker: A maker is a type of trader who helps to increase the liquidity in the order book by placing a limit order. Makers create new orders that are later matched with existing orders. By doing so, they contribute to the market by adding buy or sell orders to the order book. They also act as market stabilizers by placing limit orders, which allows other participants to enter and exit positions quickly. Maker fees are based on the maker's credit matching amount, which is calculated as:
makerFee=abs(creditChange)makeFeeRate+abs(creditChange)offsetmakerFee = abs(creditChange) * makeFeeRate + abs(creditChange) * offset
  • Maker only: To guarantee that your order is a maker order instead of a taker, you should choose "Post Only" when placing your order.

What is Offest in JOJO's Trading Fee Structure?

  • To ensure the safety of users' funds and data accuracy in JOJO, every transaction made on the platform is confirmed on-chain without any gas fee. JOJO will take care of the gas fee required for the on-chain confirmation on the user's behalf. However, if the user's order is too small, JOJO might be unable to cover the gas fee cost of the on-chain confirmation.

  • To address this, JOJO has implemented a tiered trading fee model, which includes an offset to cover the gas fee for on-chain confirmation and reduce the minimum opening amount for users. Consequently, JOJO's minimum opening amount has been reduced from 1500 USDC to 100 USDC, which is sufficient to cover the on-chain confirmation cost. Users are only required to pay the gas fee when the trading amount is less than a specified threshold (dynamic ratio). We estimate the fee ratio in real time dynamically based on gas and the amount of the order placed by the user.

  • Where offset is calculated according to the following formula, that can view the real-time return value through the gasFeeInfo of the exchange api response, Referral Rate is a fixed value that value is 0.3.

FeeRate=TakerBaseFeeRate(1ReferralRate)+MakerBaseFeeRate(1ReferralRate)FeeRate = Taker Base Fee Rate*(1- Referral Rate) + Maker Base Fee Rate*(1- Referral Rate)
Offset=max(0,[GasLimitGasPrice0.000000001ETHsIndexPriceabs(CreditChange)FeeRate]/2)Offset =max(0, [\frac{Gas Limit * Gas Price * 0.000000001 * ETH's Index Price}{abs(CreditChange)} - FeeRate] /2 )

No Deposit or Withdrawal Fee

There are no fees charged to users when depositing or withdrawing USDC to and from the platform.