# Fees

Katana Perps uses a maker-taker fee model. Taker orders (those that immediately match against resting orders) pay a taker fee, while maker orders (those that rest on the order book and add liquidity) pay a lower maker fee. This structure incentivizes liquidity provision and tighter spreads.

## Trading Fees

Default fee rates at launch:

| Fee Type  | Rate  |
| --------- | ----- |
| Taker Fee | 0.04% |
| Maker Fee | 0.01% |

Fees are calculated on the notional value of the trade and deducted from the trader's USDC quote balance at the time of settlement.

Katana Perps defines exchange-wide default fee rates, market-specific fee rates, and wallet-specific fee rates. Markets may be subject to promotional periods with lower rates, and wallets have several opportunities to lower fees via promotional programs. The platform applies the **lowest fee available** across all scopes.

**Referral discount:** Traders who sign up using a referral code receive a 5% discount on trading fees. See the [Referrals](/rewards/referrals.md) section for details.

## Gas Fees

All trade execution and settlement on Katana Perps is gas-free. Users do not pay blockchain transaction fees for placing orders, executing trades, settling positions, or claiming referral rewards.

Users pay standard Katana blockchain gas fees only for depositing funds into and withdrawing funds from the Katana Perps smart contract — the same cost structure as any on-chain token transfer.

## Withdrawal Fees

Katana Perps collects fees on withdrawals to cover gas and bridge fees on behalf of the withdrawing wallet. Unlike deposits, withdrawals are initiated through the REST API — Katana Perps dispatches the resulting transaction to return funds to the wallet and pays the gas directly.

Bridged withdrawal fees can be dynamic. The **Get Gas Fees** endpoint provides up-to-date fee estimates. Users authorize a maximum fee as part of the Withdraw Funds request to protect against rate fluctuations. Withdrawal fees are deducted from the withdrawn quantity.


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