# GM Markets — Pricing (machine-readable)

> Last updated: 2026-05-05. Canonical human-readable version: https://gm.markets/pricing

GM Markets charges a single trading fee on every mint and redeem. The fee is volume-tiered against the wallet's 14-day rolling spot volume. Same fee whether buying or selling. No spread mark-up, no payment for order flow, no hidden routing fees.

## Account fees

- Signup fee: 0
- Monthly subscription: 0
- Minimum deposit: 0
- Inactivity fee: 0
- Custody fee: 0 (GM Markets is non-custodial)
- Spread mark-up: 0
- Payment for order flow: 0

## Spot trading — VIP fee schedule

Wallet-keyed, 14-day rolling volume across all spot products. One fee per transaction, charged at execution. Symmetric on buy and sell. Back-to-back execution today, so there is no maker / taker split.

| Tier  | 14-day volume | Fee per transaction |
|-------|---------------|---------------------|
| VIP 1 | Base          | 0.20%               |
| VIP 2 | ≥ $100K       | 0.17%               |
| VIP 3 | ≥ $1M         | 0.15%               |
| VIP 4 | ≥ $10M        | 0.12%               |
| VIP 5 | ≥ $50M        | 0.10%               |

Tier evaluation: 14-day rolling, recomputed daily in UTC. Tier applies across all spot products. Wallet-scoped. No account, no token-balance gating.

## Spot trading — modifiers

- Stable-RWA pair discount: 5 bps flat. Trades between USDC and tokenized credit (USDC ↔ pCRED and similar) bypass the VIP schedule.
- Creator affiliate share: 30% of the trading fee on every referred trade, plus 30% of vault platform fee on referred deposits. Wallet-scoped attribution, sticky, no expiry. Weekly USDC payouts.
- Builder / aggregator share: 50% of the trading fee on flow routed via the SDK or tagged with a builder code, plus 30% of vault platform fee on deposits via the partner UI. Same payout rail.

## Spot trading — when the CLOB ships

GM Markets uses back-to-back execution today. When a central limit order book launches, the schedule above collapses into a maker-taker model:

- Taker fee: a few bps below today's tier fee.
- Maker fee: starts at 0 bps for VIP 1, with maker rebates kicking in at higher tiers to attract professional liquidity.
- VIP tiers become "taker tiers". Maker rebates accrue on top.
- Schedule changes get at least 30 days notice posted on the pricing page and in the changelog.

## Vault fees

### RWA vaults (private credit, ABS)
- Management fee: 0% (issuer-run)
- Performance fee: 10% on yield
- Charged: continuously, deducted from NAV
- Disclosure: APYs displayed are net of all fees

### DeFi vaults
- Management fee: 1% per annum on AUM
- Performance fee: 10% on yield (70/30 manager / protocol split)
- Charged: continuously, deducted from NAV
- Disclosure: APYs displayed are net of all fees

### Trading vaults
- Management fee: 2% per annum on AUM
- Performance fee: 20% on yield (70/30 manager / protocol split)
- Charged: continuously against high-water mark
- Disclosure: no performance fee on losses

## Redemption fees

- Liquid DeFi vaults: 0 (gas only)
- Trading vaults: 0 (gas only, settlement T+1)
- RWA vaults: 0 platform fee. Vault-specific redemption window applies (24h–7 days). Disclosed on each vault detail page.
- Spot tokens: redemption settles via burn into USDC at the broker chain. No platform fee. T+1 to T+2 for tokenized equities.

## Gas

- Paid by the user in the chain's native asset (ETH on Ethereum, Base, Arbitrum).
- GM Markets does not subsidize or surcharge.
- UI batches actions where possible.

## Limits

- No protocol-level deposit cap.
- No protocol-level withdrawal cap.
- Per-vault deposit caps may apply; disclosed on each vault detail page.
- Per-jurisdiction restrictions apply at the asset level via geo-gating.

## Currencies

- Deposit assets: USDC, USDT, ETH (vault-dependent)
- Settlement asset: USDC for redemptions
- Native chain asset: ETH (for gas)

## Contact

- Support: support@gm.markets
- Allocator inquiries: allocators@gm.markets
- Partner inquiries: partners@gm.markets
- Bug bounty: https://gm.markets/bug-bounty