Estimated Fees and Rewards APR

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There are two main benefits that accrue to makers who providing liquidity on Perp:

  1. They can earn fee income in USDC from the trades facilitated by their liquidity position(s),

  2. They can also earn OP and PERP tokens as part of our Pool Party initiative.

When selecting a pool, the base APR from the expected fee earnings (USDC) and the rewards APR from the expected Pool Party rewards are displayed on the page.

APRs shown on are estimated based on 7 days of historical data and do not guarantee any rate of return.

Why is a Range Shown for the APR?

A range is shown since the exact amount of rewards you earn depend on the price range you set for your liquidity positions. The lower end of the range applies to those providing liquidity for the full range of price while the upper end shows an estimate based on a very tight price range.

For instance, the example above shows that you can earn anywhere between 0.2% to 167.8% from the base APR for providing liquidity to the BTC-USD market. The tighter your price range, the closer your expected returns will be to 167.8% while if you use the full range, your APR will be around 0.2%. The same applies to the rewards APR.

When adding liquidity using the Easy LP mode, your estimated fees (in USDC), weekly rewards (in OP and PERP) and overall risk will be shown before entering a liquidity position.

How is the Total APR Shown in the UI Calculated?

Some time after opening a liquidity position, the estimated total APR will be displayed, along with the net return, total liquidity, margin ratio, total fees and impermanent loss.

The total APR shown here is calculated by estimating the fees collected for the entire week (Sunday 00:00 UTC to Saturday 23:59 UTC) based on the fee collected at that moment in time, then divided by the value of the user's liquidity.

Do I Need to Claim My Fees or Pool Party Rewards?

You do not need to claim the fees. The USDC that is earned from facilitating volume is automatically added to your balance.

However, Pool Party rewards must be claimed here: OP and PERP tokens are distributed every week on Monday.

Connect your wallet and you'll be able to see the rewards for providing liquidity that you've earned (by market). The liquidity mining rewards are claimable every Monday for any liquidity positions opened in the previous week (i.e., before Sunday 00:00 UTC).

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