How do stablecoin/FX fees work?

Important:

Fee schedule volume-based discounts are based on crypto trading volume only. Making purchases using the Buy Crypto widget, Kraken app as well as trading stablecoin and FX pairs on our order books does not contribute to the fee schedule 30-day volume.

Want to know what stablecoins are?

Learn about this and more at Kraken Learn.

All trades made on Kraken have a basic trading fee applied to them. For most markets the basic trading fee follows the maker/taker model, incentivizing orders that contribute liquidity by charging a lower fee.

However, orders submitted to stablecoin markets, such as two cash currencies (FX) or in pegged markets such as WBTC/BTC, are charged an identical fee regardless of whether the order was a maker or taker.

You can tell which fees will be applied by checking the currency pair (market) your order is in.

To learn more about currency pairs, see our Trading Glossary.

If the stablecoin is the base currency (e.g. USDT/USD):

If the stablecoin is the quote currency (e.g. BTC/DAI):

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    The maker/taker fee schedule applies.

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    The trade will contribute to your 30 day trading volume.

If the currency pair has two stablecoins (e.g. DAI/USDT):

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    The stablecoin fee schedule applies.

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    The trade will not contribute to your 30 day trading volume.

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    This is because the base asset (traded asset) of the pair is a stablecoin and therefore the order is being submitted to a stablecoin market.

If the currency pair has two cash currencies (e.g. EUR/USD):

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    The stablecoin fee schedule applies.

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    The trade will not contribute to your 30 day trading volume.

If the currency pair is pegged (e.g. WBTC/BTC):

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