When you swap, two separate fees are in play, and confusing them is common. One goes to the blockchain (gas, covered already); the other goes to the DEX and its liquidity providers. Let's isolate the second.
The pool fee
On an AMM, every swap pays a small percentage that's added to the pool and shared among the liquidity providers who supplied it. This is the DEX's core fee, entirely separate from gas — and it's why providing liquidity can earn yield: you collect these fees.
Uniswap's tiered fees
Uniswap v3 introduced tiered pool fees, so a pair can have pools at different rates depending on its volatility:
| Fee tier | Typical use |
|---|---|
| 0.01% | Stablecoin pairs (e.g. USDC/USDT) |
| 0.05% | Large, correlated pairs (e.g. ETH/stablecoin) |
| 0.30% | Most standard pairs (the classic v2 rate) |
| 1.00% | Exotic or volatile tokens |
A good interface or aggregator routes you to the cheapest pool automatically. The long-standing 0.30% is just the default for ordinary pairs; stablecoin swaps can be far cheaper.
Maker vs. taker (order-book DEXes)
Order-book venues — common for perps — price differently. A maker posts a resting order that adds liquidity and often pays a lower fee or even earns a rebate; a taker fills an existing order, removing liquidity, and pays a bit more. A simple instant swap is taker-style. You can compare maker and taker fees across venues on the ranking.
Other fees to watch
- Interface fee — some front-ends add a small fee on top of the pool fee.
- Aggregator fee — usually tiny, and often outweighed by the better price it finds.
- Funding — on perps, a recurring payment between longs and shorts (Module 7), not a swap fee.
Add it up: total cost = gas + pool/trading fee + slippage. A cheap headline fee can still cost you if slippage is high — which is the next thing to master.
- Comparing only the headline trading fee while ignoring gas and slippage in the total.
- Using a 0.30% pool for a stablecoin swap a 0.01% pool would do far cheaper.
- Assuming 'no trading fee' means free — gas and slippage still apply.