STX Exchange Fee Schedule

Overview

Our exchange uses a maker-taker pricing model designed to reward bettors who provide liquidity to the marketplace.

When a wager executes, the fee charged depends on whether the bettor acted as a:

• Maker – A bettor whose order adds liquidity to the order book and is subsequently matched by another participant.
• Taker – A bettor whose order immediately matches against existing liquidity in the order book.

Makers wager fee-free. Takers pay fees based on their loyalty tier.

Fee Formula

For each executed order, fees are calculated as:

Fee = ceil(f × C × p × (100 − p) / 100)

Where:

Fees are rounded up to the nearest cent after aggregation at the order level.

Fee Factors by Loyalty Tier

Why Fees Vary by Price

The fee formula contains the term:

p × (100 − p) / 100

This value is:

• Small when prices are near 0¢ or $1
• Largest when prices are near 50¢

As a result, fees are highest near the center of the market and lower near either extreme and the fee curve is symmetric. A wager at 20¢ generates the same fee as a wager at 80¢.

Maximum Possible Fees

Because the fee formula includes the term:

p × (100 − p) / 100

the fee reaches its maximum when the wager price is 50¢.

At a price of 50¢:

50 × (100 − 50) / 100 = 25

Therefore:

Maximum Fee per Contract = 25¢ × Fee Factor

The table below shows the highest fee that can be charged for a single contract, before the order’s fee is rounded up to the nearest cent.

Wagers executed above or below 50¢ will incur lower fees.

Order-Level Fee Calculation

Fees are calculated and aggregated at the order level rather than the individual execution level.

If a single order is executed through multiple partial fills, all fills associated with that order are combined before fees are calculated and rounded.

Example

A Rookie-tier bettor submits an order for 100 contracts at 50¢.

The order is filled through 100 separate executions of 1 contract each.

The fee is calculated using:

• Fee Factor = 0.10
• Contracts = 100
• Price = 50¢

Fee = ceil(0.10 × 100 × 50 × (100 − 50) / 100)
Fee = ceil(250¢)
Fee = $2.50

The fee is calculated once using all 100 contracts rather than calculating and rounding fees separately for each partial execution.

Sample Fee Calculations

The examples below assume:

• Rookie loyalty tier
• Taker fee factor of 0.10
• 1 contracts wagered

These examples illustrate that fees are highest near 50¢ and decrease as prices move closer to either 0¢ or $1.