Fees and trading cost
Trading cost depends on the market and its active execution route. Review the order ticket and live Novrinex fee schedule before submission.
Cost categories
Section titled “Cost categories”| Cost | When it applies |
|---|---|
| Maker fee or rebate | A resting order adds liquidity and later fills on an order book |
| Taker fee | An order removes available order-book liquidity |
| Builder or Novrinex fee | The current route charges an attributed execution fee for Novrinex flow |
| Route fee or spread | The execution venue or contract applies its own charge or price spread |
| Funding | Longs and shorts exchange periodic payments under the market formula |
| Rollover or borrowing cost | Some oracle-priced contracts apply a route-specific carrying charge |
| Slippage and price impact | Execution occurs away from the displayed reference as size consumes liquidity or price moves |
| Network fee | A wallet approval, deposit, withdrawal, bridge, or contract transaction uses a blockchain |
| Bridge or withdrawal fee | Capital moves between networks or market accounts |
| Liquidation fee | The route closes exposure after a margin breach |
Maker and taker classification
Section titled “Maker and taker classification”A Limit order is not automatically a maker order. It receives maker treatment only if it rests without immediately matching. A marketable Limit order can execute as taker liquidity.
Partially filled orders can contain both immediate and resting execution. The authoritative fill record controls the final fee classification.
Funding
Section titled “Funding”Funding is separate from the execution fee. A positive or negative displayed rate indicates the expected transfer direction under the market’s convention. The rate can change before the funding timestamp.
Holding a position across several intervals can create material cost or income. Funding received should not be treated as guaranteed yield because the position remains exposed to market movement and liquidation.
Slippage
Section titled “Slippage”Slippage is an execution result, not an invoiced fee. For order-book markets, it depends on spread, depth, order size, latency, and price movement. For oracle-priced markets, it depends on route rules, reference updates, spread, and contract execution.
Maximum-slippage controls can reject an order outside a permitted range where supported. Triggered stops and gap conditions may follow different route rules.
Capital movement costs
Section titled “Capital movement costs”A market can require capital preparation before trading. Token approvals use gas. Deposits, withdrawals, bridges, and internal transfers can carry network or route charges and can take time to settle.
Moving capital does not reserve the earlier market price. The order is repriced and revalidated after preparation.
Source of truth
Section titled “Source of truth”Pre-trade figures are estimates. The execution receipt, venue-verified fill, funding record, and onchain transaction establish final cost. If this page conflicts with the live market terms or order review, the live terms control.