API Fee Schedule

    Last updated: September 23, 2020

    Overview

    Orders placed via our API (each, an “Order”) are subject to the rates on this schedule.
    Gemini utilizes a maker-taker fee model for determining trading fees for all Orders. Liquidity-making Orders are charged different fees than liquidity-taking Orders. If you place an Order that is filled immediately, this Order takes liquidity from the marketplace and, therefore, you are considered a taker and will be charged a taker fee. If you place an Order that is not filled immediately, but instead rests on the order book, your Order adds liquidity to the marketplace and, therefore, you are considered a maker and will be charged a maker fee.
    Your Order could be subject to both maker and taker fees. If you place an Order that is partially filled immediately, you will be charged a taker fee on the filled portion. The remainder of your Order will rest on the Order book and will be charged a maker fee when it is filled.

    API Fee Schedule

    Your fee rate for every trading pair is determined by your gross trading volume in notional USD across all of Gemini’s (i) continuous order books, (ii) auction order books (iii), and block trading over a 30-calendar-day trailing window. Your fee rate will be recalculated every day at midnight UTC (7pm EST / 8pm EDT) and applied to all Orders going forward from that time.
    The following rates only apply to your Orders placed via API. For information on rates for orders placed via other applications and interfaces, please see the Marketplace Fee Schedules section of our User Agreement.
    30-DAY TRADING VOLUME IN (USD NOTIONAL)¹ ²TAKER FEEMAKER FEEAUCTION FEE

    0

    0.350%

    0.100%

    0.200%

    ≥ $1,000,000

    0.250%

    0.100%

    0.150%

    ≥ $2,500,000

    0.200%

    0.075%

    0.125%

    ≥ $5,000,000

    0.150%

    0.075%

    0.100%

    ≥ $7,500,000

    0.125%

    0.000%

    0.075%

    ≥ $10,000,000

    0.100%

    0.000%

    0.050%

    ≥ $15,000,000

    0.100%

    0.000%

    0.000%

    ≥ $50,000,000

    0.075%

    0.000%

    0.000%

    ≥ $100,000,000

    0.050%

    0.000%

    0.000%

    ≥ $250,000,000

    0.040%

    0.000%

    0.000%

    ≥ $500,000,000

    0.030%

    0.000%

    0.000%

    Block Trading® Fee Schedule

    The fee rates for all block Orders (each, a “Block Order”) are fixed at the below rates for all trading pairs.
    TAKER FEEMAKER FEE

    0.50%

    0.00%

    0.0%

    We will be waiving all Block Trading fees commencing September 21, 2018 0:00 UTC ending March 31, 2021 @ 0:00 UTC.

    Fee Calculation

    We calculate fees as a fraction of the notional value of each trade (i.e., price × amount). Depending on the Order type, fees will be either deducted from the gross proceeds of a trade or charged to the account at the time a trade is executed. Any fees will be applied at the time an Order is placed. For partially filled Orders, only the executed portion is subject to trading fees.

    Fee Denominations

    Fees are charged in quote currency, or the second currency in the pair. Example: The transaction fee for BTC/USD will be charged in USD. Additionally, the transaction fee for ETH/BTC will be charged in BTC.

    Fee Discount Examples

    Miguel trades $20,000,000 gross volume over four calendar days during a 30-calendar-day window at various times on Gemini continuous and auction order books. His fees paid are as follows:
    EventActionSideTaker FeeMaker/Auction FeeFee Paid30-Day total

    Day 1 @ 4PM

    Limit Buy 1,000 BTC @ $5,000

    Maker

    0.350%

    0.100%

    $5,000

    $5,000,000

    Day 1 @ 7PM

    Fee re-calc

    0.150%

    0.075%

    Day 2 @ 4PM

    Limit Buy 500 BTC @ $5,000

    Taker

    0.150%

    0.075%

    $3,750

    $7,500,000

    Day 2 @ 7PM

    Fee re-calc

    0.125%

    0.000%

    Day 3 @ 4PM

    Limit Sell 25,000 BTC @ $300

    Taker

    0.125%

    0.000%

    $9,375

    $15,000,000

    Day 3 @ 7PM

    Fee re-calc

    0.100%

    0.000%

    Day 4 @ 5PM

    Limit Sell 1,000 BTC @ $5,000

    Maker

    0.100%

    0.000%

    $0

    $20,000,000

    Fee Calculation Examples

    Sell Orders – Fees for limit and market sell Orders are deducted from the proceeds of the resulting trade.
    Example: Evelyn enters a limit sell Order of 10 BTC with a limit price of $100 that fills as a maker at an average price of $101 per BTC. She also enters a market sell Order of 10 BTC that fills as a taker at an average price of $100 per BTC. Her fees paid are as follows:
    ACTIONORDER TYPEAMOUNTFILL PRICEFEEFEE PAIDGROSS SALE PROCEEDSNET SALE PROCEEDS

    Sell

    Limit

    10 BTC

    $101

    0.25%

    $2.525

    $1,010

    $1,007.4750¹

    Sell

    Market

    10 BTC

    $100

    0.15%

    $1.50

    $1,000

    $998.50

    Buy Orders – Fees for limit buy Orders are added to the purchase price as the Order fills; fees for market buy Orders are deducted from the purchase price of the resulting trade.
    Example: Reema enters a limit buy Order for $1,000 of BTC with a limit price of $101 that fills as a maker at an average price of $100 per BTC. She also enters a market buy Order for $1,000 of BTC that fills as a taker at an average price of $100 per BTC. Her fees paid are as follows:
    ACTIONBUYMARKET

    Order Type

    Limit

    Buy

    Amount

    $1000

    $1000

    Fill Price

    $100/BTC

    $100/BTC

    Fee

    0.25%

    0.15%

    Gross Purchase Price

    $1,000

    $1,000

    Fee Paid

    $2.50

    $1.49775336994508³ ⁴

    Net Purchase Price

    $1,002.50

    $998.502246630055

    Total BTC Purchase

    10 BTC

    9.985022466 BTC

    Block Orders – Fees for the taker side of a Block Order, the IOI, are added to the purchase price as the Block Order fills; fees for the maker side of a Block Order are deducted from the proceeds of the resulting trade.
    Example: Aliyah, a taker, enters a Block Order to buy 1000 BTC with a limit price of $100. Market-maker Frank receives an IOI with a quantity of 1000 and a midpoint of $99; she responds by quoting a spread to sell at $99.80 and to buy at $98.20, both for the full quantity of Aliyah’s Block Order. The Block Trading engine then matches them for the full quantity at $99.80. Their fees paid are as follows:
    MARKET PARTICIPANTALIYAHFRANK

    Liquidity Type

    Taker

    Maker

    Action

    Buy

    Sell

    Order Type

    Block Limit

    Block Limit

    Amount

    1000 BTC

    1000 BTC

    Fill Price

    $99.80

    $99.80

    Fee

    0.10%

    0.00%

    Fee Paid

    $99.90

    $0.00

    Gross purchase price / proceeds

    $99,899.80

    $99,800

    Net purchase price / proceeds

    $99,800

    $99,800

    Notice of Changes

    Any change to our API Fee Schedule, including adjustments to any tiers or rates, will be emailed and/or posted no fewer than three calendar days before such changes are to take effect and no changes will be in effect for fewer than 30-calendar-days, subject to any shorter period of time that may be required by applicable law or regulation.
    Any Order placed after the effective date indicated in any such notice will be subject to the new API Fee Schedule and you will be deemed to have agreed to the new API Fee Schedule by continuing to use our API.

    Order Placement

    For more information on how Orders are handled, please see the Order Placement section of our User Agreement.

    ¹New API customers will automatically be charged according to the rates for the ≥ $15,000,000 tier for their API trading activity for their first 30-days. New API customers who indicate they will achieve significantly higher first month volumes may be charged according to the rates for their expected continuing fee tier for their API trading activity for their first 30-days. ²In an effort to foster fair and orderly markets on our Exchange, we may, from time to time, offer fee discounts, rebates, and/or other incentives to certain Gemini Customers, which may include affiliates, who we believe in our sole discretion will provide liquidity to our Marketplace and/or meet liquidity requirements for certain trading pairs on our Exchange. ³Displayed as $1006.46