Skip to main content

What are network fees and how do they work?

A
Written by Aviv Sugarman
Updated over 5 months ago

Network fees are the fees charged by the underlying blockchain network for the processing of transactions. In addition to basic network costs, Spot also automatically submits transactions with a priority fee, which incurs additional cost in order to increase the chances of transactions being accepted. At times of congestion - when many traders are active on the network - Blockchain network fees typically increase slightly. Spot does not receive any gains from the network fees paid, and does its best to optimize them to be as low as possible while still ensuring orders succeed.

Network fees are encapsulated within the price impact and price differential values displayed at order checkout time, and are not explicitly displayed.

If you have any questions are requests in regards to network fees, please reach out to support.

Did this answer your question?