Liquidity providers deposit funds into APX and receive trading fees from traders (supply-side fees).

APX Finance is a non-custodial exchange for perpetual contracts built on BNB Chain, Arbitrum, and Base.

APX tokenholders own and govern the protocol. They currently take a cut of the total trading fees paid by traders (revenue). APX's investors include Binance Labs, Kronos Research, etc.

github

twitter

etherscan

website

Derivative exchanges

APX V2

# APX V2 Fees Methodology

## 1. Overview

ApolloX fees represent the total trading fees collected by the ApolloX protocol across its two main trading products: perpetual derivatives trading and Dumb Mode trading. The metric captures all user-paid fees from opening and closing positions, as well as fees from prediction-based trading activities. This provides a comprehensive view of ApolloX's fee-generating activities across multiple blockchain networks.

## 2. Data sources

The calculation relies on several key data sources:
- **Blockchain events**: Parsed event logs from ApolloX smart contracts on Arbitrum, BNB Chain, and Base networks
- **Perpetual trading events**: `OpenFee` and `CloseFee` events from multiple ApolloX contract versions (ApolloX2, ApolloX3, ApolloX4)
- **Dumb Mode trading events**: `SettlePredictionSuccessful` and `PredictionCloseFee` events from ApolloX5 contracts
- **External data**: End-of-day token price feeds for USD conversion and token metadata for decimal correction

## 3. Step-by-step calculation

### Component A: Perpetual trading fees
- **Purpose**: Captures fees from standard perpetual derivatives trading activities
- **Logic**: Extracts fee data from `OpenFee` and `CloseFee` events across multiple contract versions. For ApolloX2 and ApolloX3 contracts (on Arbitrum and BNB Chain), both events contain `totalFee`, `daoAmount`, and `brokerAmount` fields. For ApolloX4 contracts (on Arbitrum, BNB Chain, and Base), events contain `totalFee` and `alpPoolAmount` fields. Each event represents a fee collection from opening or closing a perpetual trading position.
- **Key fields**: `totalFee` (total user-paid fee), `token` (fee token address), `daoAmount` and `brokerAmount` (protocol revenue components for v2/v3), `alpPoolAmount` (liquidity pool allocation for v4)

### Component B: Dumb mode trading fees  
- **Purpose**: Captures fees from ApolloX's prediction-based trading feature where users bet on minute-by-minute price movements
- **Logic**: Extracts fee data from two event types on Arbitrum and BNB Chain v2 contracts. `SettlePredictionSuccessful` events contain `closeFee` representing the trading fee paid when a prediction is settled. `PredictionCloseFee` events contain `daoAmount` and `brokerAmount` representing the protocol's revenue share from these trading fees. This creates separate records for total fees paid and protocol revenue collected.
- **Key fields**: `closeFee` (fee paid on prediction settlement), `daoAmount` and `brokerAmount` (protocol revenue components), `token` (fee token address)

### Final aggregation
- **Combining components**: Both perpetual trading fees and Dumb Mode fees are combined using a union operation, creating a unified dataset of all fee-generating activities across both trading products
- **Currency conversion**: Fee amounts are converted to USD using end-of-day token price feeds, with decimal correction applied based on each token's metadata to ensure proper scaling
- **Time aggregation**: All fees are aggregated to daily boundaries using timestamp truncation, grouping all fees collected within each 24-hour period
- **Final calculation**: The daily fees metric represents the sum of all user-paid trading fees (both perpetual and Dumb Mode) collected by ApolloX contracts on each day, expressed in USD terms

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value users pay to use a protocol (gross fees, user-paid fees).

APX V2APX

Fees

Fees

Competitive landscape

Chain breakdown