Polymarket US tiers combo taker fees and adds a maker charge
Polymarket US changes combo taker fees on 11 November and starts charging makers on 14 November. See what a 100-contract fill costs across tiers.
Polymarket US is changing what traders pay to execute multi-leg contracts. Under a 9 November exchange notice, combo taker fees were scheduled to start varying by account tier at 1 p.m. ET on 11 November. A separate maker charge was scheduled from midnight ET on 14 November, according to the exchange’s fee schedule.
A combo bundles several outcomes into one trade. The fee applies to the execution price of the whole combo. The changes are for QCX LLC’s US exchange. Polymarket’s international platform publishes its own trading fees for its markets.
Update, 14 November. The worked examples below use Polymarket US’s four-tier public fee schedule, which gives 11 November at 1 p.m. ET as its effective time. An earlier 10 November notification to the CFTC reports eight taker tiers effective 6 November. Both documents apply their tier coefficients to standard and combo trades. The documents give different effective dates. Prediction Frontier has yet to verify a filing reconciling the schedules or actual fees on live fills.
What a 100-contract fill costs
The previous combo formula used the same two coefficients for all takers. The revised formula lowers the fixed part from 0.085 to 0.06 and uses the account’s taker tier for the other part. On the public schedule, the four coefficients run from 0.095 for accounts below $10,000 in trailing 30-day taker volume to 0.0695 for accounts at $250,000 or more. New accounts receive the 0.0695 coefficient for their first seven calendar days, counting the first-fill date as day one, and a transitional provision can give existing accounts a better tier in November.
Prediction Frontier applied both schedules to one fill of 100 contracts at each price. The new taker columns use the lowest and highest volume tiers, before any rebates. The maker column shows the separate charge scheduled for 14 November. All amounts are in US dollars and use the exchange’s nearest-cent, half-to-even rounding.
| Combo price | Previous taker fee | New taker, lowest volume tier | New taker, highest volume tier | New maker fee |
|---|---|---|---|---|
| 10¢ | $1.18 | $1.25 | $1.02 | $0.27 |
| 25¢ | $1.98 | $2.26 | $1.78 | $0.56 |
| 50¢ | $2.00 | $2.56 | $1.92 | $0.75 |
At 25¢, the same fill would cost a taker in the lowest volume tier 28¢ more and a taker in the highest tier 20¢ less. Those differences isolate the fee at a fixed price. The actual cost to a trader also depends on the quote and any taker rebate.
Market makers start paying on 14 November
The published schedule sets a maker fee on combo fills from midnight ET on 14 November. The charge uses a 0.03 coefficient multiplied by the number of contracts, the execution price and one minus that price. The fee schedule says combo fills carry no maker rebate. The next test is whether makers absorb the charge or adjust their prices and the sizes they are willing to quote. Answering that requires comparable live quotes and fills on both sides of the change.
Combos accounted for more than 70% of Polymarket US trading volume on 8 November, CNBC reported in its coverage of the company’s annualised revenue run rate. That figure covers one day’s trading. The fee schedule provides no breakdown of how much combo flow falls into each tier.