# Fees

Complete fee structure for all Sova products. Transparent pricing with no hidden fees.

{% hint style="success" %}
**No hidden fees.** What you see is what you pay.
{% endhint %}

***

## Vault Fees

| Fee Type            | Rate | Description                      |
| ------------------- | ---- | -------------------------------- |
| **Management Fee**  | 0%   | No annual fee on AUM             |
| **Performance Fee** | 10%  | Applied only to realized profits |
| **Deposit Fee**     | 0%   | No entry cost                    |
| **Withdrawal Fee**  | 0%   | No exit cost                     |

### Performance Fee Calculation

Protocol only earns when depositors earn:

```
Vault gross yield:    10%
Performance fee:       1%  (10% of 10%)
Net yield to LP:       9%
```

***

## Swap Fees

| Route                     | Total Fee |
| ------------------------- | --------- |
| **USDC → BTC/ZEC**        | 0.5%      |
| **Other Token → BTC/ZEC** | \~0.8%    |
| **BTC/ZEC → EVM**         | 0.5%      |

### Fee Breakdown

<table><thead><tr><th width="200">Component</th><th width="100">Rate</th><th>Recipient</th></tr></thead><tbody><tr><td>Aerodrome DEX</td><td>0.3%</td><td>Liquidity providers</td></tr><tr><td>Bridge Fee</td><td>0.5%</td><td>Sova Protocol</td></tr></tbody></table>

{% hint style="info" %}
**Fee Optimization:** Swap from USDC directly to avoid the 0.3% DEX routing fee.
{% endhint %}

### Fee Examples

**USDC → BTC (1,000 USDC):**

|                   |                 |
| ----------------- | --------------: |
| Input             |   1,000.00 USDC |
| DEX fee           |       0.00 USDC |
| Bridge fee (0.5%) |      -5.00 USDC |
| **Net to BTC**    | **995.00 USDC** |
| Output (at $95k)  |    \~0.0105 BTC |

**DAI → BTC (1,000 DAI):**

|                   |                |
| ----------------- | -------------: |
| Input             |   1,000.00 DAI |
| DEX fee (0.3%)    |          -3.00 |
| Bridge fee (0.5%) |          -4.99 |
| **Net to BTC**    | **\~992 USDC** |
| Output (at $95k)  |   \~0.0104 BTC |

***

## Gas Costs

Transaction fees paid to Base network:

| Action               | Typical Cost  |
| -------------------- | ------------- |
| Token approval       | $0.01 - $0.05 |
| Vault deposit        | $0.05 - $0.15 |
| Vault withdrawal     | $0.05 - $0.15 |
| Swap execution       | $0.05 - $0.15 |
| Limit order creation | $0.05 - $0.20 |

{% hint style="info" %}
Gas costs vary with network congestion. Base maintains consistently low fees.
{% endhint %}

***

## What You Don't Pay

* No account fees
* No inactivity fees
* No subscription fees
* No hidden spreads

***

## Fee Comparison

### Vaults vs Traditional Finance

| Fee         | Sova | Hedge Funds | ETFs   |
| ----------- | ---- | ----------- | ------ |
| Management  | 0%   | 2%          | 0.1-1% |
| Performance | 10%  | 20%         | 0%     |
| Entry/Exit  | 0%   | 0-5%        | 0%     |

### Swaps vs Alternatives

| Route      | Sova     | CEX\*    | Other Bridges |
| ---------- | -------- | -------- | ------------- |
| Base → BTC | 0.5-0.8% | 0.5-1.5% | Variable      |

\*CEX fees exclude withdrawal costs (typically 0.5-1%+)

***

## Fee Recipients

| Fee             | Recipient           |
| --------------- | ------------------- |
| Aerodrome DEX   | Liquidity providers |
| Bridge fee      | `sovalabs.near`     |
| Performance fee | Protocol treasury   |


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