Protocol Fees

Helm collects fees from trading activity and liquidity withdrawals. This page explains each fee type, who pays it, and where it goes.

Fee Sources

A dynamic fee is charged on every swap. The fee is composed of multiple components that adjust to real-time market conditions:

Component	Description
Base fee	Minimum fee applied to all swaps
Imbalance fee	Increases when a swap pushes the pool away from ideal balance; discounted when it helps rebalance
Market impact fee	Scales with order size relative to available liquidity
Stablecoin confidence fee	Adds a fee when Pyth stablecoin confidence intervals widen for the quote conversion
Premium adjustment	Adjusts the quoted price (not an added fee) when the perpetual mark price deviates from oracle price

80% of trading fees go to LPs. 20% goes to the protocol. See Dynamic Fees for details on how each component is calculated.

When withdrawing liquidity from a pool:

Method	Fee
Standard (queued) withdrawal	No fee
Instant withdrawal	Small fee (shown before confirmation)

Instant withdrawal fees go to the protocol.