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fix(fee-compare): remove vault fee — carry settled per-action #2209

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Merged
Flotapponnier merged 1 commit into from
Aug 29, 2026
Merged

fix(fee-compare): remove vault fee — carry settled per-action #2209

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27 changes: 11 additions & 16 deletions src/app/api/fee-compare/route.ts
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Original file line number Diff line number Diff line change
Expand Up @@ -132,6 +132,7 @@ type GainsApiTrade = {
realizedTradingFeesCollateral?: number;
realizedFundingFeesCollateral?: number;
realizedNewBorrowingFeesCollateral?: number;
realizedOldBorrowingFeesCollateral?: number;
};
};
};
Expand Down Expand Up @@ -180,8 +181,7 @@ type HlWalletData = {

type GainsWalletData = {
events: number;
feesUsdc: number; // pure taker fee only (uiRealizedPnlData)
vaultFeesUsdc: number; // OI imbalance vault surcharge (tradeFeesData - uiRealizedPnlData)
feesUsdc: number;
fundingFeesUsdc: number;
fundingEstimated: boolean;
borrowingFeesUsdc: number;
Expand All @@ -193,8 +193,7 @@ type GainsWalletData = {
pair: string;
action: string;
notional: number;
tradingFee: number; // taker fee only
vaultFee: number; // OI vault surcharge
tradingFee: number;
fundingFee: number;
borrowingFee: number;
equivFee?: number; // equivalent fee on the other venue
Expand Down Expand Up @@ -1525,23 +1524,20 @@ export async function GET(req: Request) {
const otherSlug = slug === venueA ? venueB : venueA;
const otherRate = slug === venueA ? rateB : rateA;
let feesUsdc = 0;
let vaultFeesUsdc = 0;
let fundingFeesUsdc = 0;
let borrowingFeesUsdc = 0;
let notionalUsd = 0;
const recentTrades: GainsWalletData["recentTrades"] = [];

for (const t of usdcTrades) {
// uiRealizedPnlData = pure taker fee; tradeFeesData = taker + OI vault surcharge
// Gains settles carry (funding + borrowing) on every action, not just closes.
// uiRealizedPnlData breaks down taker, funding, and borrowing separately — use it for all.
const takerFee = t.meta?.uiRealizedPnlData?.realizedTradingFeesCollateral
?? t.meta?.tradeFeesData?.realizedTradingFeesCollateral ?? 0;
const totalTradingFee = t.meta?.tradeFeesData?.realizedTradingFeesCollateral ?? takerFee;
const vaultFee = Math.max(0, totalTradingFee - takerFee);
const isClose = CLOSE_ACTIONS.has(t.action);
const fundingFee = isClose ? (t.meta?.uiRealizedPnlData?.realizedFundingFeesCollateral ?? 0) : 0;
const borrowingFee = isClose ? (t.meta?.uiRealizedPnlData?.realizedNewBorrowingFeesCollateral ?? 0) : 0;
const fundingFee = t.meta?.uiRealizedPnlData?.realizedFundingFeesCollateral ?? 0;
const borrowingFee = (t.meta?.uiRealizedPnlData?.realizedNewBorrowingFeesCollateral ?? 0)
+ (t.meta?.uiRealizedPnlData?.realizedOldBorrowingFeesCollateral ?? 0);
feesUsdc += takerFee;
vaultFeesUsdc += vaultFee;
fundingFeesUsdc += fundingFee;
borrowingFeesUsdc += borrowingFee;
const tradeNotional = t.size * t.leverage;
Expand All @@ -1550,7 +1546,7 @@ export async function GET(req: Request) {
const equivFee = otherSlug === "hyperliquid"
? tradeNotional * (gainsData.perSide[t.pair.split("/")[0]] ?? otherRate)
: tradeNotional * otherRate;
recentTrades.push({ date: t.date, pair: t.pair, action: t.action, notional: tradeNotional, tradingFee: takerFee, vaultFee, fundingFee, borrowingFee, equivFee, pnl_net: t.pnl_net });
recentTrades.push({ date: t.date, pair: t.pair, action: t.action, notional: tradeNotional, tradingFee: takerFee, fundingFee, borrowingFee, equivFee, pnl_net: t.pnl_net });
}
}

Expand All @@ -1566,17 +1562,16 @@ export async function GET(req: Request) {
}
}

const netCostUsdc = feesUsdc + vaultFeesUsdc + fundingFeesUsdc + borrowingFeesUsdc;
const netCostUsdc = feesUsdc + fundingFeesUsdc + borrowingFeesUsdc;
walletData = {
events: usdcTrades.length,
feesUsdc,
vaultFeesUsdc,
fundingFeesUsdc,
fundingEstimated,
borrowingFeesUsdc,
netCostUsdc,
positionSizeUsdc: notionalUsd,
avgFeeRateBps: notionalUsd > 0 ? (feesUsdc / notionalUsd) * 10000 : 0,
avgFeeRateBps: notionalUsd > 0 ? (netCostUsdc / notionalUsd) * 10000 : 0,
recentTrades,
} satisfies GainsWalletData;
} else if (fetchEvmWallet && slug === "gmx-v2" && gmxWalletData) {
Expand Down
20 changes: 1 addition & 19 deletions src/components/fee-compare-client.tsx
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Original file line number Diff line number Diff line change
Expand Up @@ -75,7 +75,6 @@ type HlWalletData = {
type GainsWalletData = {
events: number;
feesUsdc: number;
vaultFeesUsdc: number;
fundingFeesUsdc: number;
fundingEstimated: boolean;
borrowingFeesUsdc: number;
Expand All @@ -88,7 +87,6 @@ type GainsWalletData = {
action: string;
notional: number;
tradingFee: number;
vaultFee: number;
fundingFee: number;
borrowingFee: number;
equivFee?: number;
Expand Down Expand Up @@ -735,7 +733,6 @@ function WalletSide({
})()}
{venue.slug === "gains" && (() => {
const gW = w as GainsWalletData;
const hasVault = (gW.vaultFeesUsdc ?? 0) > 0.5;
const hasFunding = Math.abs(gW.fundingFeesUsdc) > 0.5;
const hasBorrowing = gW.borrowingFeesUsdc > 0.5;
return (
Expand All @@ -752,19 +749,6 @@ function WalletSide({
<p className="text-[11px] text-ink-faint">Taker fees</p>
<p className="font-mono text-xs font-semibold text-ink">{fmtUsd(gW.feesUsdc)}</p>
</div>
{hasVault && (
<>
<div className="flex items-center justify-between">
<p className="text-[11px] text-ink-faint">Vault fee</p>
<p className="font-mono text-xs font-semibold text-amber-500">
+{fmtUsd(gW.vaultFeesUsdc)}
</p>
</div>
<p className="text-[10px] text-ink-faint/60 leading-snug">
Gains charges an extra fee to LPs when your trade increases the long/short imbalance. Hyperliquid does not have this — it uses funding rates instead.
</p>
</>
)}
{hasFunding && (
<div className="flex items-center justify-between">
<p className="text-[11px] text-ink-faint">
Expand Down Expand Up @@ -1202,8 +1186,7 @@ function GainsTradeTable({
</thead>
<tbody>
{rows.map((t, i) => {
const hasVault = (t.vaultFee ?? 0) > 0.001;
const netCost = t.tradingFee + (t.vaultFee ?? 0) + t.fundingFee + t.borrowingFee;
const netCost = t.tradingFee + t.fundingFee + t.borrowingFee;
const diff = hasEquiv && t.equivFee !== undefined ? t.equivFee - netCost : undefined;
return (
<tr key={i} className="border-b border-ink/5 last:border-0 hover:bg-ink/2 transition-colors">
Expand All @@ -1225,7 +1208,6 @@ function GainsTradeTable({
<p className="font-mono text-xs font-bold text-ink">{fmtUsd(netCost)}</p>
<p className="text-[10px] text-ink-faint/70 mt-0.5 whitespace-nowrap">
{fmtUsd(t.tradingFee)} taker
{hasVault ? ` +${fmtUsd(t.vaultFee)} vault LP` : ""}
{t.borrowingFee > 0.001 ? ` +${fmtUsd(t.borrowingFee)} borrow` : ""}
{Math.abs(t.fundingFee) > 0.001
? ` ${t.fundingFee > 0 ? "+" : "−"}${fmtUsd(Math.abs(t.fundingFee))} fund`
Expand Down
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