> For the complete documentation index, see [llms.txt](https://docs.nocktrade.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.nocktrade.xyz/concepts/fees.md).

# Fees

## The schedule

| You are                                           | Fee                 |
| ------------------------------------------------- | ------------------- |
| Taking liquidity (market orders, crossing limits) | 2.0 bps of notional |
| Providing liquidity (resting limit orders)        | 0.0 bps             |

On a 20,000 USDC market order, 2.0 bps is 4.00 USDC. Lighter charges retail traders nothing, so on most trades our fee is the entire cost of the trade — and it is printed in the ticket before you can press anything, then again on every fill.

Maker flow is free on purpose. We would rather you post than cross, and a fee schedule should say that out loud instead of burying it in a document nobody opens.

## The ceiling you approve

Fees work through Lighter's permissionless integrator mechanism. Before we can charge anything, you sign a single approval that sets a ceiling on what NockTrade may collect — 2.0 bps taker, 0.0 bps maker. Mechanically:

* every order we build carries our integrator account index and the fee, inside the signed order itself;
* the venue enforces the ceiling: we cannot charge above what you approved without asking you to sign a new approval;
* you can revoke at any time by re-signing the approval with the fees set to zero.

## What we never touch

* Funding payments flow between longs and shorts. None of it comes to us.
* Deposits and withdrawals carry no NockTrade fee.
* There are no subscription tiers, no "VIP levels", no hidden spread.

## Current status

While our integrator account is being provisioned on the venue, the fee line in the ticket reads 0.0 bps and you are charged nothing. The ledger always shows exactly what the order carries — when the fee goes live, it will say so in the same row, in advance.


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