# Trading Fees (/fees/trading-fees)





Pear charges fees when you open and close a position on Hyperliquid or Lighter (retail and Agent Pear trades on your linked accounts). Fees are denominated in USDC, the margin asset of every market Pear trades on.

## Open fee [#open-fee]

0.06% (6 bps) on the **total position size** when you open a trade. This covers **all legs**. A pair (2 legs) and a basket (3+ legs) pay the same 6 bps on the total position size, once, not per leg.

## Close fee [#close-fee]

0.06% (6 bps) on the **total position size** when you close a trade. Again, this covers **all legs**, once.

A full round trip therefore costs 12 bps on the total position size. Example: a \$1,000 position costs \$0.60 to open and \$0.60 to close.

## How the fee is charged [#how-the-fee-is-charged]

Pear embeds the fee in the order payload it submits to the venue. There is no separate Pear transaction, no per-trade gas cost, and no subscription or API-access fee. It is collected through the venue's own fee mechanism, which you approve **once** when you connect your trade account: Hyperliquid's builder-fee approval, or Lighter's integrator-fee approval. Without that one-time approval, Pear cannot submit orders with its fee attached and execution does not work.

Every trade also pays the **venue's own trading fee**, a separate layer that Pear does not set, discount, or refund:

* **Hyperliquid**: it charges its own trading fees on top of Pear's. Pear is always a taker on Hyperliquid: every order style (market, trigger, TWAP, ladder) fills as a market order and Pear never rests maker orders on the book. See [Hyperliquid's fee schedule](https://hyperliquid.gitbook.io/hyperliquid-docs/trading/fees) for the live venue rate.
* **Lighter**: it does not currently charge its own per-trade trading fee, so the all-in cost on Lighter is Pear's fee alone. See [Lighter's docs](https://docs.lighter.xyz/) for its current fee model.

Because the venue layer differs, the all-in cost of the same trade can differ by venue even though Pear's own fee is the same. The Pear app shows your effective rate when you trade.

## Discounts [#discounts]

You can reduce the 6 bps fee:

* **stPEAR staking tiers**: up to a 50% discount depending on your staked balance ([stPEAR-based trading discounts](/fees/stpear-based-trading-discounts)).
* **Referral discount**: if you joined through a referral, you get 10% off your fees ([Referrals](/fees/referrals)).

Discounts are applied automatically at execution.

<Callout>
  Volume-based rebates ended with the V3 launch. The current incentives for active traders are stPEAR tiers and the referral discount.
</Callout>

## Pear Pro [#pear-pro]

Pear Pro (institutional) trades under its own fee tier, 2 bps per open or close under the current configuration on Hyperliquid and Lighter, separate from the retail 6 bps. On Pro CEX venues (Binance, Bybit, OKX), Pear monetizes through each venue's broker program rather than a Pear-set per-order fee; that rate is settled off-platform, not in the app.

## Where the fees go [#where-the-fees-go]

Per PIP-3 (ratified January 2026), Pear's fee revenue is applied on-chain: **70% to weekly \$PEAR buybacks, permanent burns, and liquidity provision; 30% to the DAO treasury**. Protocol revenue no longer flows to stakers as ETH. Staking now grants access and fee discounts instead. See [PEAR and stPEAR](/tokenomics/token).