# Trading Fees

At Backpack Exchange, our commitment to providing a transparent and competitive fee structure is paramount.

The table below outlines the Spot Trading & Perpetual Futures fee tiers, enabling traders to easily identify the fees associated with their trading volume.

* ‍[**Visit Backpack Exchange today.**](https://backpack.exchange/)

We may change these fees for the next phase of launch and will post the updated fees here beforehand.

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**\*SUBJECT TO CHANGE\***

### **Backpack Exchange Trading Fees**

<figure><img src="/files/N3pVgGmRpWPxNGCXpyEi" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
***Important Notes:***

* **Fee tiers are recalculated hourly, and your VIP status is updated accordingly.**
* **Effective tier is determined based on your BP Stake, trading volume and pre-TGE Mad Lad NFT holding, whichever tier is highest.**
* **Our USDT/USDC trading pair is subject to a 0% fee, which means that trades on this pair do not count toward your 30-day volume requirements for fee tier upgrades.**
  {% endhint %}

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### **What are Maker and Taker Fees?**

* **Maker Fee:** A "maker" is someone who places a limit order that adds liquidity to the market. This means the order isn’t filled immediately but waits for a matching order (opposite buy or sell) to come along. The fee incurred for such orders is called the "maker fee". Makers typically pay a lower fee as they contribute to the market's liquidity.<br>
* **Taker Fee:** A "taker" is someone who places an order that matches immediately with an existing order on the order book. This takes liquidity away from the market. The fee for such orders is called the "taker fee". Takers typically pay a slightly higher fee due to the immediate nature of their trades.

### **How do Fee Tiers Work?**

The more you trade, the more you save! Our fee structure is designed to reward high-volume traders with reduced fees. As your 30-day trading volume increases, you ascend through our tier levels, and your applicable fees decrease. Both maker and taker fees decrease as you move to a higher tier, allowing for a more cost-effective trading experience.

Please refer to the table provided to view the fee structure across different tiers and the corresponding 30-day volume requirements. We aim to offer a seamless trading experience with a clear understanding of the associated costs.‍

**Note:** Fee tiers are recalculated **every hour**, so your tier status is updated regularly.


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