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Fee Credits

Platform-issued vouchers that reimburse your perp trading fees. 1 Fee Credit = $1 of fee reimbursement, applied automatically.

What they cover

Fee typeCovered
Perpetual contract trading feesYes
Spot trading feesNo
Deposit / withdrawal and other feesNo

How they work

  1. Distribution — credits from a campaign land in your balance, visible in the Fee Credits Center. Nothing to claim.
  2. Consumption — every eligible perp fill consumes credits against the fee charged. If your balance does not cover the whole fee, the remainder is charged to your account as normal.
  3. Charge — the trading fee is still charged in full at fill time and still shows in your trade history. Credits are tracked against it rather than waiving it at the point of trade.
  4. Daily settlement — the day's consumed credits are totalled and paid back as USDC to your perp account. The USDC you receive is ordinary collateral and can be used as margin.
  5. History — the Fee Credits Center keeps an Earn record, a per-trade Spend record, and a daily breakdown.

Interaction with a referral discount

If you joined with a referral code, the 5% referee discount is applied first; credits then offset what is left:

original fee → −5% referee discount → −Fee Credits → amount actually paid

The amount actually paid is also the basis for your referrer's commission, so if your credits cover a fee in full, that trade generates no commission for the referrer.

StepCredits cover it fullyCredits cover part of it
Original fee$10.00$10.00
After 5% referee discount$9.50$9.50
Fee Credits applied−$9.50−$4.00 (balance was $4.00)
You pay$0.00$5.50
Referrer's commission basis$0.00$5.50

The 5% referee discount itself runs out after your first $25M of combined volume — see Referral. Fee Credits keep working past that point.

Expiry and restrictions

  • Credits expire on their own schedule. Unused credits are forfeited at expiry and are not reissued.
  • Non-transferable — valid only for the account they were issued to.
  • Non-withdrawable — they cannot be sent to an external wallet or converted to another asset.
  • No cash value — usable only as a fee offset.

Your balance, earn history, spend history, and daily breakdown are all in the Fee Credits Center in the app.