Pricing · updated 2026-05-050.10–0.20% per transaction.
A volume-tiered fee on every mint and redeem. Symmetric on buy and sell. Tier rolls over your 14-day spot volume — no account, no application. No spread mark-up, no payment for order flow, no hidden routing fees.
0.10–0.20%All-in fee
14-dayRolling volume window
5VIP tiers, automatic
0Spread / PFOF / hidden fees
VIP fee schedule
14-day rolling volume · stocks, ETFs, bonds, commodities, FX, cryptoVIP 1Base0.20%$20 per $10K
VIP 2≥ $100K0.17%$17 per $10K
VIP 3≥ $1M0.15%$15 per $10K
VIP 4≥ $10M0.12%$12 per $10K
VIP 5≥ $50M0.10%$10 per $10K
SymmetricSame fee on buy and sell. No maker / taker split today — that arrives when the GM Markets CLOB ships. Schedule changes get at least 30 days notice, posted here and in the changelog.
Modifiers
Discounts and revenue shares applied on topPair discount5 bps flat on stable ↔ RWASwaps between USDC and tokenized credit (e.g. USDC ↔ pCRED) bypass the VIP schedule.
Creator share30% of trading fee, lifetimeWallet-scoped attribution on every referred trade. Sticky for the lifetime of the wallet, settled in USDC every Friday.
Builder share50% of trading fee on SDK flowAggregators and apps routing volume via the GM Markets SDK split half the fee on every order they bring.
Vault fees
Subscription-style · separate from trading · APY shown net of feesRWA vaults
Tokenized private credit and ABS, run by the issuer.
- Management
- 0%
- Performance
- 10% on yield
DeFi vaults
Lending, looping, delta-neutral, market-neutral strategies.
- Management
- 1% / yr
- Performance
- 10% (70/30 split)
Trading vaults
Active basis, market-making, and directional strategies.
- Management
- 2% / yr
- Performance
- 20% (70/30 split)
Per-vault overrides take precedence — always check the vault detail page. Fees deduct continuously from NAV; the published APY is already net of both.
30%
Earn 30% of the trading fee on every referred trade, plus 30% of the platform fee on referred vault deposits. Wallet-scoped attribution, sticky for the lifetime of the wallet, no expiry. Settled in USDC every Friday.
Frequently asked
How is my tier determined?
By your wallet's 14-day rolling spot volume across all products, recomputed daily in UTC. No account, no application. You start at VIP 1 and the system upgrades you automatically as volume crosses each threshold.
What counts toward volume?
Every spot trade in tokenized stocks, ETFs, bonds, commodities, FX, and crypto. Both legs of a round-trip count. Vault deposits and redemptions do not count — vaults have their own fee structure.
What does the fee cover?
One number, one charge per mint or redeem. It covers execution, settlement, and the on-chain mint or redeem of the tokenized position. There is no separate spread mark-up, no payment for order flow, no hidden routing fee.
Are there maker rebates today?
Not yet. GM Markets currently runs back-to-back execution with our prime brokers, so there is no maker / taker split. Maker rebates arrive when the GM Markets CLOB ships.
How are vault fees different?
Vaults are subscription-style. There is no per-side trading fee on a vault buy or redeem. Vaults charge an annual management fee plus a performance fee on yield, both deducted continuously from NAV. The published APY is already net of both.
What about gas?
Gas is paid by the user in the network's native asset (ETH on Ethereum, Base, Arbitrum). GM Markets does not subsidise or surcharge gas. The UI batches actions where possible.