Fees
Fees on Conviction apply only when a trade fills. There are no fees on split, merge, or redeem, and no action ever costs gas.
#Makers pay nothing
An order that sits on the book and supplies liquidity (a maker) pays 0% when it fills. Only the side that takes that quote off the book (the taker) pays a fee.
#Where fees are deducted
Fees are always taken as a portion of the funds you receive.
- When a BUY fills and you receive outcomes → part of the received outcome tokens is the fee
- When a SELL fills and you receive USDT → part of the received USDT is the fee
#Taker fee rates
The rate is set per market and defaults to 200 bps. It varies with the fill price and drops once the price rises above $0.50. The feeRateBps signed into each order is a cap — the exchange collects up to it, the operator keeps at most the market's rate times your personal discount (see below), and the rest is refunded.
| Fill price | Buy — paid in outcome tokens | Sell — paid in USDT |
|---|---|---|
| $0.01 | 2.000% | 0.020% |
| $0.10 | 2.000% | 0.200% |
| $0.25 | 2.000% | 0.500% |
| $0.50 | 2.000% | 1.000% |
| $0.60 | 1.333% | 0.800% |
| $0.70 | 0.857% | 0.600% |
| $0.80 | 0.500% | 0.400% |
| $0.90 | 0.222% | 0.200% |
| $0.95 | 0.105% | 0.100% |
| $0.99 | 0.020% | 0.020% |
The buy column is a share of the outcome tokens you receive; the sell column is a share of the $1 face value per share. At the same price and size, a buy and a sell pay the same amount.
Sell 100 shares at $0.50 and the fee is $1.00 out of $50.00 in proceeds, leaving $49.00 in your wallet. The table's 1.000% is measured against the $100 face value; against the $50.00 of proceeds it is 2%. The equivalent buy pays 2 shares — also $1.00.
#Fees by action
| Action | Fee |
|---|---|
| Trade fill — taker | Yes (set per market, 200 bps by default) |
| Trade fill — maker | None |
| Split | None |
| Merge | None |
| Redeem | None |
#Discounts
Two discounts stack additively, capped at 40% in total:
Referee discount — 10%. If you signed up with someone's referral link, you pay 10% less on every taker fee.
Fee tier — rolling 30 days of fees paid. Tiers key off the fees you actually paid as a taker over the last 30 days (not notional volume). There are no permanent tiers: fall out of the window and the tier drops with it.
| Tier | 30-day fees paid | Tier discount | AI market proposals a day |
|---|---|---|---|
| T1 | $10+ | 5% | 1 |
| T2 | $50+ | 10% | 2 |
| T3 | $250+ | 20% | 3 |
| T4 | $1,000+ | 30% | 4 |
The same tier sets how many AI markets you can propose a day — see Market proposals. For now, accounts below T1 can propose one a day too; this may change as we adjust the service.
Rates and thresholds may be adjusted prospectively — already-settled fills are never recharged.
#Gas
- Conviction covers BSC network gas in full.
- You don't need to hold BNB, and no action ever costs you gas.
#Next concepts
- Referrals — the referee discount, and what referrers earn
- Resolution — redemption has zero fees