DXAP pricing and the cost of an executed round trip

DXAP's published platform fee is one line in a trade's cost ledger. To estimate a complete round trip, count filled openings and closings, then account separately for venue fees, funding, and the prices actually achieved. We would avoid judging a strategy from the headline platform percentage alone.

As inspected October 3, 2026, the fees reference publishes 2.5 basis points, or 0.025%, on filled volume routed with DXAP's builder code. It says the current offer has no subscription or separate model charge. Manual closes routed through DXAP can also carry that builder fee. Unrelated venue trades have a different routing context.

Work from filled volume

Illustrative arithmetic: a position opens with $2,000 of filled notional and later closes with $2,000. Total filled volume is $4,000. At 0.00025 per dollar, the DXAP builder fee is $1.00: $0.50 for the opening and $0.50 for the closing.

The example assumes equal opening and closing notionals for easy arithmetic. Actual closing notional can change with price, and partial fills produce their own ledger rows. Use actual filled volume for reconciliation. A requested order that never fills contributes no filled-volume row in this calculation.

Now add separate hypothetical venue fees of $1.20 and a hypothetical funding debit of $0.40. Those three cash-cost rows sum to $2.60. These venue and funding amounts are illustrative, rather than published Hyperliquid rates. They demonstrate accounting categories without implying the same cost for every account or holding period.

Keep price impact in the right place

Suppose the position's gross trading result, calculated from actual fill prices, is $6.00. Subtracting the illustrative $2.60 gives $3.40 before any other relevant cash flows. If the fill-price result already incorporates buying above and selling below a reference price, subtracting that same difference again would double-count execution impact.

For forecasting, an estimate of spread crossing or slippage can help compare an expected move with expected costs. For accounting, reconcile actual prices and cash debits. Our execution discussion separates the intended action from settlement evidence; the continuous record shows why fee eras and paper-engine assumptions matter when reading historical results.

A small ledger can change the decision

Keep columns for fill identity, timestamp, notional, builder fee, venue fee, and funding settlement. Include the source of each amount and whether it is estimated or observed. Funding may arrive on a different clock from a trade, so assign it according to an explicit holding-period rule.

Before approving a strategy change that increases turnover, estimate the additional filled volume it would create. Higher volume mechanically increases volume-based charges even when average position size stays constant. The owner's useful question is whether the proposed behavior has a credible expected benefit after its incremental costs. The published fee explains charging mechanics; measured trading records must establish the economic result.